NDT and inspection are incredibly useful techniques for evaluating and diagnosing product flaws in a timely manner. It is a critical quality control tool in the production process since it allows for the early detection of surface and subsurface faults in both finished and work-in-progress (WIP) goods. Factory buildings, platforms, bridges, railway lines, piping systems, and industrial machinery are examples of industrial assets and public infrastructures where NDT is utilised to detect flaws and structural integrity. Government regulations governing public safety and product quality, as well as ongoing advancements in electronics, automation, and robots, are driving the market's growth. The rapid penetration of IoT devices, as well as the growing requirement to monitor the health of aged assets, are driving the NDT and inspection industry forward.
Region Analysis:
North America is the largest market for nondestructive testing equipment in the world, and this dominance is projected to continue. Significant investments in energy verticals such as oil and gas are principally responsible for North America's growth. The second-largest share of the global nondestructive testing equipment market was held by Europe, followed by Asia Pacific. The fastest-growing geographical market for nondestructive testing equipment is predicted to be Asia Pacific. The increased use of testing equipment in the manufacturing, automotive, and industrial sectors is driving the Nondestructive Testing Equipment Market in Asia Pacific.
Key Highlights:
- In May 2021, Nikon added a new offset CT reconstruction algorithm to its industrial microfocus X-ray CT inspection systems to achieve unrivalled scan speed and image resolution. The use of X-ray CT for non-destructive quality control of larger components such as aluminium castings or battery modules for electric vehicles will reduce inspection cycle times without sacrificing resolution. High X-ray intensity, or flux, is one requirement for attaining this.
- The company introduced the new DP series cameras in January 2021, which share a suite of smart capabilities and exquisite colour accuracy to make industrial microscope imaging easier. The DP28 camera has a 4K resolution for high-quality photos devoid of artefacts, while the DP23 camera's full HD resolution is paired with useful features to deliver exceptional value for practically any industrial imaging application.
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Key Market Insights from the report:
Global Non-Destructive Testing Equipment Market accounted for US$ 8.45 billion in 2020 and is estimated to be US$ 15.21 billion by 2030 and is anticipated to register a CAGR of 6.10%. The Global Non-Destructive Testing Equipment Market report segments the market on the basis of solution, method, technology, end-user and region.
- Based on Solution, Global Non-Destructive Testing Equipment Market is segmented into Instruments, Software and Testing Services.
- Based on Method, Global Non-Destructive Testing Equipment Market is segmented into Volumteric, Surface Examination and Others.
- Based on Technology, Global Non-Destructive Testing Equipment Market is segmented into Radiography Testing, Ultrasonic Testing, Magnetic Particle Testing and Liquid Penetrant Testing.
- Based on End-User, Global Non-Destructive Testing Equipment Market is segmented into Oil & Gas, Power & Energy, Aerospace & Defense and Automotive & Transportation.
- By Region, the Global Non-Destructive Testing Equipment Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Non-Destructive Testing Equipment Market:
The key players operating in the Global Non-Destructive Testing Equipment Market includes General Electric (US), Olympus Corporation (Japan), MISTRAS Group (US), Nikon Metrology (Belgium), and Ashtead Technology (Scotland), YXLON International (Germany), Sonatest (UK), Zetec, Inc. (US), T.D. Williamson Inc. (US), Bosello High Technology srl (Italy), Eddyfi (Canada), and Magnaflux (US), Fischer Technology Inc. (US), Cygnus Instruments Ltd. (UK), NDT Global GmbH (Germany), Acuren (US), and LynX Inspection (Canada)
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