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Nondestructive Testing Services in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 16, 2024
Length 78 Pages
SKU # IBSS19343000

Description

Nondestructive Testing Services in the US - Industry Market Research Report


Nondestructive Testing Services in the US

Nondestructive testing (NDT) is used for numerous applications across a wide range of markets, from manufacturing plants and construction sites to nuclear power plants, oil refineries and shipyards. NDT services are used to detect flaws, cracks, variations and minute changes in structures and surface finish without damaging the products being tested. Overall, the industry has benefited from rapidly changing technology and the increasing complexity of products and processes that need testing have boosted demand for industry services. Although, industry performance was undermined by the COVID-19 pandemic and the economic volatility in oil prices. Companies experienced severe losses during 2020, with profit margins, measured as earnings before interest and taxes, falling into the negative. Still, industry revenue has been growing at an average annualized 6.1% over the past five years and is expected to total $5.8 billion in 2023, when revenue will jump an estimated 15.2%

This industry includes companies that primarily perform nondestructive tests and inspections on industrial assets. It excludes medical tests and nondestructive testing equipment manufacturing.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."

Table of Contents

78 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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