Non-Destructive Inspection Equipment Market Size and Share Report
Non-Destructive Inspection Equipment Market Driven by Rising Demand for Enhanced Inspection Technologies
AUSTIN, TX, UNITED STATES, November 18, 2024 /
EINPresswire.com/ -- Market Size & Industry Insights
According to the SNS Insider Report, “The
Non-Destructive Inspection (NDI) Equipment Market, valued at USD 11.50 billion in 2023, is set for significant growth, projected to reach USD 24.77 billion by 2032 at a CAGR of 8.90% from 2024 to 2032.”
The global Non-Destructive Inspection Equipment Market is witnessing robust growth driven by demand across multiple sectors, including manufacturing, aerospace, oil and gas, and power generation. With the rise of stringent safety and quality regulations, companies increasingly rely on NDI equipment to identify potential defects, preventing costly repairs and extending asset lifespans. Visual, surface and volumetric inspection methods are among the diverse techniques available, providing solutions tailored to industry-specific needs. Advancements in digital and automation technologies are fueling market growth, as modern NDI systems incorporate AI and machine learning to enhance defect detection and data analysis. Automation of inspection processes not only improves precision but also reduces manual intervention, further ensuring safety and efficiency. As industries face mounting challenges regarding safety compliance and operational efficiency, the adoption of NDI equipment is expected to rise, particularly in rapidly industrializing regions.
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SWOT Analysis of Key Players as follows:
- Previan Technologies
- Bureau Veritas
- Fischer Technologies Inc.
- Mistras Group Inc.
- Comet Group (YXLON International GmbH)
- MME Group
- TWI Ltd
- Nikon Metrology Inc.
- Olympus Corporation
- Sonatest
- Zetec Inc.
- Intertek Group plc
Segment Analysis
By Method: Volumetric Inspection emerged as the dominant segment in 2023 in the NDI equipment market. Known for its ability to detect internal flaws, volumetric inspection techniques like ultrasonic and radiographic testing are widely used in industries requiring high-precision inspections, such as aerospace and oil & gas. This method is critical for assessing subsurface defects that could compromise the structural integrity of components, making it essential for detecting wear, cracks, and voids.
By Service: Inspection Services held the largest share in 2023 and led the market. These services provide comprehensive assessments of equipment and materials, ensuring they meet regulatory and quality standards. Companies across manufacturing, oil & gas, and aerospace industries increasingly outsource inspection services due to the technical expertise required for accurate evaluations. The demand for inspection services is further heightened by industries’ needs to avoid unplanned downtime and reduce operational risks, particularly in sectors with heavy machinery.
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By Vertical: The Manufacturing sector led the market in 2023 with a major market share in the NDI equipment market. Manufacturers rely on NDI to maintain stringent quality control across production lines, enabling them to detect flaws early in the process and reduce waste. NDI is instrumental in industries such as automotive and electronics, where precise defect detection is essential.
Regional Analysis
North America, with a revenue share exceeding 37% in 2023, dominated the NDI market. This dominance is attributed to the extensive adoption of NDI techniques across multiple sectors, a highly skilled workforce, and numerous specialized NDI training institutes. In the U.S., the increasing use of shale oil in power generation and the region’s focus on preventing unplanned system failures drive demand.
Asia Pacific is projected to experience the highest CAGR, over 9.3%, during the forecast period 2024-2032. This growth stems from the region’s expanding manufacturing, construction, and power generation industries. Despite challenges such as skilled labor shortages, awareness and adoption of NDI practices are rising, supported by training programs and government initiatives. In this region, the oil and gas sector also presents opportunities for NDI applications.
Recent Developments
-October 2024 - Dyne Testing, a brand of Intertronics, has introduced the CleanoSpector, a device that offers non-contact cleanliness assessment and supports the quality assurance of industrial cleaning operations.
-May 2024 - Waygate Technologies, a frontrunner in non-destructive testing (NDT) solutions for industrial inspection, has introduced the Krautkrämer CL Go+, its latest ultrasonic precision thickness gauge
-October 2024 - Bowers Group has revealed the introduction of an entirely new selection of Moore & Wright portable testing devices.
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Future Trends
Future trends in the Non-Destructive Inspection Equipment Market include the growing integration of AI and machine learning to enhance defect detection accuracy. IoT and cloud-based data solutions are expected to enable real-time monitoring, particularly valuable for industries like oil and gas where remote monitoring is essential. Additionally, there is a rising trend toward portable, easy-to-use NDI devices that facilitate quick, on-site inspections without the need for specialized personnel. These advancements align with the global focus on safety, sustainability, and operational efficiency, driving sustained demand for innovative NDI solutions.
Key Points From TABLE OF CONTENT
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Market Dynamics Impact Analysis
Chapter 5. Statistical Insights and Trends Reporting
Chapter 6. Competitive Landscape
Chapter 7. Non-Destructive Inspection Equipment Market Segmentation, by Technique
Chapter 8. Non-Destructive Inspection Equipment Market Segmentation, by Method
Chapter 9. Non-Destructive Inspection Equipment Market Segmentation, by Service
Chapter 10. Non-Destructive Inspection Equipment Market Segmentation, by Vertical
Chapter 11. Non-Destructive Inspection Equipment Market Segmentation, by Application
Chapter 12. Regional Analysis
Chapter 13. Company Profiles
Chapter 14. Use Cases and Best Practices
Chapter 15. Conclusion
Continued…
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