Non-Destructive Testing Services Market Highlights
The global non-destructive testing services market is projected to witness a rapid growth during the forecast period owing to increasing demand for extending the useful life of ageing infrastructure and increasing emergence of industrial internet of things. Moreover, increasing demand for non-destructive testing services across various industry verticals is driving the growth of the global non-destructive testing services market.
The global Non-Destructive Testing Services Market is segmented by geography into North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to witness significant growth and hold the largest share of the global market during the forecast period. U.S. and Canada are anticipated to drive the growth of the non-destructive testing services market in North America region owing to the presence of a large number of established key players such as MISTRAS Group, Inc., GE Inspection Technologies, Nikon Metrology, Inc., and Ashtead Technology, Inc. The market is likely to show immense growth in future due to the sustainable and well-established economies in the region. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ensures better connectivity. The growth of the market is also attributed to the increasing focus of business organizations on safety of the workers and the increase in stringent safety regulations formulated by governments. In the global non-destructive testing services market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions, owing to the increasing outsourcing of non-core activities and technical resource constraints across countries in the region.
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Non-Destructive Testing Services Market Key Players:
Some of the prominent players in the global non-destructive testing services market are MISTRAS Group, Inc. (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), SGS S.A. (Switzerland), Olympus Corporation (Japan), Nikon Metrology, Inc. (U.S.), Ashtead Technology, Inc. (U.S.), Sonatest Ltd. (U.K), Bosello High Technology S.R.L. (Italy), and Fujifilm Holdings Corporation (Japan).
Non-Destructive Testing Services Market Analysis
North America is expected to account for the largest market share, whereas Europe market is projected to grow at the fastest rate during the forecast period. The market in North America is witnessing a rapid growth due to the technological advancements and the rise in demand for non-destructive testing services across industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue and due to the increased demand for the better use of the ageing infrastructure.
Non-Destructive Testing Services Market Segmentation
The global non-destructive testing services market is segmented by type, technique, application and vertical. However, the application segment is classified into flaw detection, leak detection, dimensional measurement, estimation of physical properties, chemical composition determination, and stress & structure analysis. Increasing demand for flaw detection and leak detection applications is driving the growth of non-destructive testing services market. This is due to the increasing demand to ensure safety of the workers and employees.
- Technology Investors
- Research/Consultancy firms
- Government Bodies
- Service Providers
- Information Technology (IT) developers
- Consulting service providers
- Technology Providers
- System integrators
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