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NON-DESTRUCTIVE TESTING (NDT) EQUIPMENT MARKET SIZE & SHARE
The Non-Destructive Testing (NDT) Equipment Market is segmented by Technology (Radiography Testing Equipment, Ultrasonic Testing Equipment, Magnetic Particle Testing Equipment, Liquid Penetrant Testing Equipment, Visual Inspection Equipment, Eddy Current Equipment), by End-user Industry (Oil and Gas, Power and Energy, Aerospace and Defense, Automotive and Transportation, Construction), by Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). For each segment, the market sizing and forecasts have been provided on the basis of value (in USD million) and volume (in metric tons).
Non-destructive testing (NDT) involves the inspection, testing, or evaluation of components, materials, or assemblies. It involves examining disparities in characteristics or discontinuities, primarily without hampering the product's serviceability or part.
The market sizing encompasses the revenue generated through the sales of different types of NDT equipment for different end-user industries such as oil and gas, power and energy, aerospace and defense, automotive & transportation, construction, etc. in different regions across the world. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period.
Several governmental agencies and regional bodies across the world formulated stringent measures, primarily for assuring the safety of buildings. These measures have mandated the use of NDT and other evaluation techniques for conducting fitness checks. This is important for gaining building clearances from concerned authorities for infrastructural projects. These checks include structural strength evaluation, fire safety, and emergency protocol compliance tests.
Non-Destructive Testing Equipment Industry Segmentation
Non-destructive testing (NDT) instruments are used to scan, inspect, and quantify flaws, corrosions, and other material conditions without permanently damaging or altering the examined product or part. NDT equipment encompasses a broad set of equipment, such as flaw detectors, thickness gages, material condition testers, visual inspection devices, acoustic emission testers, and eddy current instruments, along with devices that measure resistivity, conductivity, and corrosion.
The report is segmented by technologies, such as radiography testing equipment, ultrasonic testing equipment, and magnetic particle testing equipment, among others, used across various end-user industries, such as oil and gas, power and energy, aerospace and defense, automotive and transportation, construction, and other end-users industries, in different geographies. The study covers a comprehensive analysis of the impact of COVID-19 on the market studied.
The oil and gas industry accounts for the largest market share as nondestructive testing plays a critical role in the industry for both the integrity of equipment and the safety of petroleum refining and extraction operations. Ultrasonic and eddy current NDT testing solutions are often used in the industry for careful inspection of welds and metals for flaws and corrosion, which helps keep potentially hazardous chemicals and fluids safely contained within pipes and pressure vessels.
Moreover, oil and gas have carbon, hydrogen, and sulfides that have the ability to corrode steel unpredictably and with unexpected speed. NDT provides an effective method for inspecting these materials and detecting corrosion before it creates a larger-scale issue. According to Baker Hughes, as of October 2022, there were 966 land rigs in that region, with a further 14 rigs located offshore.