Latest News- Non-Destructive Testing (NDT) Equipment Market: Oil and gas is expected to lead the End-user segment during 2025-2029

The Non-Destructive Testing (NDT) Equipment Market is being driven by Increase in oil and gas and power generation projects

The Non-Destructive Testing (NDT) Equipment Market is expected to grow at a CAGR of 6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 950.5 million. In the realm of Non-Destructive Testing (NDT), ultrasonic testing has emerged as a preferred method for industrial inspections. This technique, which utilizes high-frequency sound waves to detect defects, offers several advantages over traditional methods like radiography or computed tomography. Ultrasonic testing provides precise measurement of defect height, superior detection of planar flaws, and is free from radiation emissions. Additionally, it generates no waste material and does not require the use of chemicals. Regulatory bodies such as the American Society of Mechanical Engineers (ASME) and the American Petroleum Institute (API) have established codes permitting the substitution of radiography with ultrasonic testing in specific applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Oil and gas
  • Power generation
  • Aerospace and defense
  • Automotive and transportation
  • Others
• Product Type
  • Ultrasonic testing equipment
  • Radiography testing equipment
  • Visual testing equipment
  • Others
• Product
  • Portable equipment
  • Stationary equipment
  • Software solutions
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in oil and gas and power generation projects
• Growing regulatory compliance requirements for preventing accidents
• Growing demand for RVI in aerospace industry

However, the market also witnesses some limitations, which are as follows:

• Growing availability of pre-used variants of NDT equipment
• Growing dependence on third-party service providers for NDT
• Stringent regulations on NDT

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Market Scope in Non-Destructive Testing (NDT) Equipment Market Research Report

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Research Analysis Overview

The Non-Destructive Testing (NDT) Equipment Market encompasses various solutions including portable and handheld NDT equipment, automated NDT systems, NDT probes, and software upgrades. Services such as maintenance contracts, repair services, consulting, engineering, and equipment rentals are also part of this market. Key drivers include material science, process optimization, cost reduction, efficiency improvements, and downtime reduction. Risk mitigation, compliance assurance, industry regulations, safety procedures, and supply chain management are crucial considerations. Global markets and emerging technologies continue to shape the industry.

Market Research Overview

The Non-Destructive Testing (NDT) equipment market is a significant segment of the global industrial machinery and supplies and components market, encompassing companies that manufacture ultrasonic testing, radiographic testing, magnetic particle testing, dye penetrant testing, eddy current testing, acoustic emission testing, visual inspection, and leak testing systems. According to Technavio's market research, the global industrial machinery and supplies and components market size is determined by the combined revenue generated by manufacturers of machinery and components used in industrial applications. Factors driving the growth of this market include the increasing industrial output in process and discrete industries due to the expanding economies of developing countries, resulting in capacity additions for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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