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Fior Markets launched a study titled “Non-Destructive Testing and Inspection Market by Technique (Projector, Mirror, Motor & Position Sensor, Others), Method, Service, Vertical, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026.”

The global non-destructive testing and inspection market is expected to grow from USD 9.1 Billion in 2018 to USD 19.4 Billion by 2026 at a CAGR of 9.9% during the forecast period from 2019-2026. Technological improvements in non-destructive testing and rising rate of industrialization and urbanization are two factors which may boost the market growth.

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The Ultrasonic Testing (UT) segment is dominating the market with the highest share of 29.50% in 2018

Technique segment is divided into segments such as Ultrasonic Testing (UT), Visual Inspection Testing (VT), Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy-Current Testing (ECT), Radiographic Testing (RT), Acoustic Emission Testing (AET) and others. The Ultrasonic Testing (UT) segment is dominating the market and valued around USD 2.68 Billion in 2018. It is presently the most popular NDT technique owing to its ability to accurately identify defects and determine their severity.

The volumetric inspection segment valued around USD 3.84Billion in 2018

The method segment includes visual inspection, surface inspection, volumetric inspection and other methods. The volumetric inspection segment is dominating the market with the highest share of 42.30% in 2018 as it offers various benefits. Volumetric testing or ultrasonic testing are both used to examine the internal or volumetric integrity of welds or materials where the joint quality is usually critical.

The inspection services segmentheld the market share of40.90% in 2018

The service segment is classified into inspection services, equipment rental services, calibration services and training services. The inspection services segment is dominating the market and valued around USD 3.72 Billion in 2018. The main aim of NDT techniques is to inspect objects, materials, machinery, and structures for defects so that they can be rectified in a timely and cost-effective manner

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Regional Segmentation Analysis:

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately45.60% in 2018.The North America region is dominating the market due to increasing implementation of NDT techniques across numerous end-use sectors. Also, the availability of a skilled workforce and the presence of numerous NDT training institutes in the region is also affecting the market share. Power generation using shale oil in the U.S. and Canada is also likely to positively impact the growth of the regional market

Competitive Analysis:

The major players of market include GE Inspection Technologies, YXLON International, Mistras, Nikon Metrology, Olympus Corporation, Eddyfi, Sonatest Ltd., Magnaflux Corporation, Zetec Inc., Nikon Metrology, Ashtead Technology, etc, T.D. Williamson Inc., Bosello High Technology srl, Magnaflux, Fischer Technology Inc., Cygnus Instruments Ltd., NDT Global GmbH, Acuren, LynX Inspection

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