Latest News- Non-Destructive Testing (NDT) Equipment Market: Oil and Gas is expected to lead the End-user segment during 2024-2028

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 5.79% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 866 million. Ultrasonic testing, a non-destructive evaluation (NDT) method, has gained significant traction in industrial applications due to its advantages over traditional techniques such as radiography or computed tomography. Ultrasonic testing utilizes high-frequency sound waves to detect and measure defects with high accuracy. This method offers several benefits over radiography, including the ability to precisely measure defect height, superior detection of planar flaws, absence of radiation exposure, generation of no waste material, and the elimination of chemical usage. Regulatory bodies like the American Society of Mechanical Engineers (ASME) and the American Petroleum Institute (API) have issued codes permitting the substitution of radiography testing with ultrasonic testing in certain applications, further underscoring its importance in the NDT industry. 

Get more information on Non-Destructive Testing (NDT) Equipment Market by requesting a sample report

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
• Geography
  • North America
    • US
  • APAC
    • China
    • India
  • Europe
    • UK
  • South America
  • 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

Benefits of Buying Global Non-Destructive Testing (NDT) Equipment Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

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

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Non-Destructive Testing (NDT) equipment market witnesses significant growth due to increasing manufacturing activities and the need for fault detection in various materials, components, and structures. Ultrasonic and radiographic testing equipment are popular choices for NDT processes. Urbanization drives the demand for NDT in infrastructure inspection. Robotics, automated crawlers, and drones are revolutionizing NDT with their efficiency and precision. Aerospace and defense industries rely heavily on traditional NDT methods for ensuring safety and quality. NDT inspection techniques continue to evolve, offering innovative solutions for industry and infrastructure maintenance.

Market Research Overview

The Non-Destructive Testing (NDT) equipment market is a significant segment of the larger industrial machinery and supplies and components market. This market encompasses companies manufacturing equipment and components for NDT processes, including ultrasonic equipment, robotics, automated crawlers, and drones. Factors driving growth in this market include urbanization and infrastructure development, increasing demand for fault detection in various industries, and the expanding aerospace and defense sectors. The global industrial machinery and supplies and components market, which covers manufacturers of machinery and components used in industrial settings, is expected to grow due to rising industrial output in process and discrete industries, particularly in developing countries, and the demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/