The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s NDT Services Global Market Report 2024 offers crucial insights into the NDT services market help businesses analyse and build stronger strategies.

• Rapid Market Growth: The NDT services market has seen remarkable expansion, with its size projected to soar from $14.84 billion in 2023 to $16.38 billion in 2024, representing a compound annual growth rate (CAGR) of 10.3%.
• Driving Forces: This growth is attributed to infrastructure development, skills enhancement, environmental concerns, and cyclical industry trends.
• Forecasted Growth: Expectations are high as the market is poised to reach $23.75 billion by 2028, growing at a CAGR of 9.7%, fueled by factors like aerospace industry expansion, renewable energy uptake, and digitalization.
• Renewable Energy Impact: Non-destructive testing plays a pivotal role in renewable energy production, particularly in areas like wind turbine testing utilizing ultrasonic waves.
• India’s Momentum: India, with a notable 9.83% year-on-year growth in renewable energy additions in 2022, exemplifies the increasing reliance on renewable energy sources, further propelling the NDT services market forward.

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Innovative Horizons Transformative Technological Advances In The NDT Services Market

• Technological Momentum: Technological advancements stand as a prominent trend within the NDT services market, with major players focusing on innovation to maintain competitiveness.
• Case Study: In October 2022, ICR Integrity introduced INSONO, a groundbreaking NDT technique aimed at inspecting composite repairs applied to metallic components, ensuring long-term performance and integrity validation.
• Previan Technologies Acquisition: In May 2023, Previan Technologies bolstered its portfolio by acquiring Sensor Networks Inc. (SNI), a move aimed at enhancing Previan’s NDT Global unit and benefiting from SNI’s expertise in sensing tools and technologies.

Segmentation and Market Dynamics

• Segment Breakdown:
  1. Type: The NDT services market is segmented into Inspection Services, Equipment Rental Services, Training Services, and Calibration Services.
  2. Testing Technique Model: Includes Visual Inspection, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, and Terahertz Imaging.
  3. Vertical Type: Encompasses Manufacturing, Oil and Gas, Aerospace, Government Infrastructure and Public Safety, Automotive, Power Generation, and Other Verticals.
• Regional Dominance: North America emerged as the largest region in the NDT services market in 2023, indicating a robust market presence in the region.

Key Players Driving NDT Services Market

• Industry Leaders: Major companies operating in the NDT services market include Mistras Group Inc., Olympus Corporation, Nikon Metrology NV, TÜV Rheinland Group, Intertek Group PLC, and more.
• Market Dynamics: Market consolidation, asset management focus, and stringent quality assurance requirements emerge as prominent trends shaping the market’s trajectory.

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The NDT Services Global Market Report 2024 provides a comprehensive outlook of the NDT services market for the historic years (2010 -2021) and ten years forecast (2023 – 2032).The NDT services market forecast offers a thorough analysis onNDT servicesmarket size, NDT services market share,prominent players and their strategies.

The Table Of Content For The NDT Services Market Include:
1. NDT Services Market Executive Summary
2. NDT Services Market Segments
3. NDT Services Market Size And NDT Services Market Growth Rate
4. Key NDT Services Market Trends
5. Major NDT Services Market Drivers
……
25. Key Mergers And Acquisitions In The NDT Services Market
26. Top NDT Services Companies
27. NDT Services Market Opportunities And Strategies
28. NDT Services Market, Conclusions And Recommendations
29. Appendix

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