Non-Destructive Testing (NDT) Services

Global Non-Destructive Testing (NDT) Services Market to Reach US$11.5 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Non-Destructive Testing (NDT) Services estimated at US$7.1 Billion in the year 2020, is projected to reach a revised size of US$11.5 Billion by 2027, growing at a CAGR of 7.2% over the analysis period 2020-2027.Visual Inspection Testing (VT), one of the segments analyzed in the report, is projected to grow at a 8.4% CAGR to reach US$1.4 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Magnetic Particle Testing (MPT) segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 21.9% share of the global Non-Destructive Testing (NDT) Services market.

The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 11% CAGR for the Period of 2020-2027

The Non-Destructive Testing (NDT) Services market in the U.S. is estimated at US$1.9 Billion in the year 2020. The country currently accounts for a 27.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.6 Billion in the year 2027 trailing a CAGR of 11% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 6.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$2.6 Billion by the year 2027.

Liquid Penetrant Testing (LPT) Segment Corners a 11.9% Share in 2020

In the global Liquid Penetrant Testing (LPT) segment, USA, Canada, Japan, China and Europe will drive the 6.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$633.2 Million in the year 2020 will reach a projected size of US$975.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2027, while Latin America will expand at a 8.3% CAGR through the analysis period.

Select Competitors (Total 72 Featured) -

• ALS Limited
• Applus+
• Bureau Veritas SA
• Dekra SE
• Intertek Group Plc
• MISTRAS Group, Inc.
• NDT Global
• Nikon Metrology NV
• NVI, LLC
• SGS SA
• TEAM, Inc.
• TUV Rheinland AG
• YXLON International GmbH
• Zetec, Inc.

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