Business Opportunities and Investment Strategies for Global Non Destructive

Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT)

Business Opportunities and Investment Strategies for Global Non Destructive

Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT)


Analysis of the Non-Destructive Testing (NDT) Market reveals emerging trends, consumer adoption rates, and competitive strategies among leading manufacturers worldwide.

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Opportunity and Strategy Analysis

This report focuses on identifying opportunities and strategies for investing in the global Non-destructive testing (NDT) Equipment market within the forecast period. It provides a complete analysis of the global market both quantitatively and qualitatively. The quantitative analysis includes market size and revenue data of the total demand, sub-markets, and regional/national levels throughout 2023-2033. Qualitative analysis depicts a full picture of market dynamics and trends including drivers, restraints and challenges, emerging products/market trends, and Porter’s Fiver Forces analysis.

Based on the market data and analysis, the report highlights Increasingly Attractive Segments (IAS) and business opportunities in each segmentation. Moreover, a systematic evaluation of Internal Risks (factors arising within the industry development) and External Risks (factors arising from the surrounding environments) is provided for the Non-destructive testing (NDT) Equipment industry and market. This in-depth risk assessment offers a comprehensive understanding of the current risk factors and their developing trends. Furthermore, this report concludes risk management strategies and Critical Success Factors (CSFs) to help companies make intelligence-based business decisions in the global Non-destructive testing (NDT) Equipment industry.

Market Coverage & Overview

The report is based on studies for 2021-2023 and provides a forecast from 2024 till 2033 with 2023 as the base year. Considering impact of COVID-19 and regional conflicts such as Russia-Ukraine war, the trend and outlook of global market is forecast in optimistic, balanced, and conservative scenarios. In the balanced view, the global Non-destructive testing (NDT) Equipment market is expected to reach $6.95 billion by 2033, growing by 7.5% annually over the coming years.

Segmentation Analysis

Highlighted with 86 tables and 93 figures, this 204-page report represents a 360-degree view on the global market with extensively detailed segmentations by Technology, Method, Industry Vertical, and Region/Country as shown below. Annual revenue 2023-2033 for each segment is included in the report.

By Technology

• Ultrasonic Testing Equipment

• Radiography Testing Equipment

• Visual Inspection Equipment

• Magnetic Particle Equipment

• Liquid Penetrant Testing Equipment

• Eddy Current Equipment

• Acoustic Emission Equipment

• Other Technologies

By Method

• Volumetric Examination

• Surface Examination

• Visual Inspection

• Other Methods

By Industry Vertical

• Oil and Gas

• Manufacturing

• Power and Energy

• Aerospace and Defense

• Automotive and Transportation

• Construction & Infrastructure

• Electronics & Semiconductors

• Other Industry Verticals

By Region

• North America (U.S., Canada, and Mexico)

• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)

• • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

• South America (Brazil, Chile, Argentina, Rest of South America)

• MEA (UAE, Saudi Arabia, South Africa, and Rest of MEA)

The breakdown of all regional markets by country and the breakdown of each national market by Technology, Method, and Industry Vertical over the forecast years are also included.

Key Companies

The report also covers the current competitive scenario and profiles key vendors including market leaders and important emerging players. A selection of companies profiled in this report includes:

• Acuren Inspection Inc.

• Applied Technical Services, Inc.

• Applus+ Laboratories

• Ashtead Technology Ltd.

• Baker Hughes

• Bureau Veritas SA

• Controle Mesure Systemes SAS

• Fujifilm Corporation (Fujifilm Holdings Corporation)

• Innospection Limited

• Intertek Group PLC

• Magnaflux Corp. (Illinois Tool Works Inc.)

• Mistras Group Inc.

• Nikon Metrology Nv (Nnikon Corporation)

• Okondt Group

• Olympus Corporation

• SGS Group

• TEAM Inc.

• Yxlon International GMBH (Comet Holding AG)

1 Introduction 10

1.1 Industry Definition and Research Scope 10

1.1.1 Industry Definition 10

1.1.2 Research Scope 11

1.2 Research Methodology 14

1.2.1 Overview of Market Research Methodology 14

1.2.2 Market Assumption 15

1.2.3 Secondary Data 15

1.2.4 Primary Data 15

1.2.5 Data Filtration and Model Design 16

1.2.6 Market Size/Share Estimation 17

1.2.7 Research Limitations 18

1.3 Executive Summary 19

2 Market Overview and Dynamics 22

2.1 Market Size and Forecast 22

2.1.1 Impact of COVID-19 on World Economy 24

2.1.2 Impact of COVID-19 on the Market 28

2.1.3 Impact of Russia-Ukraine Conflict 30

2.1.4 Impact of Israel-Palestine War 32

2.2 Major Growth Drivers 33

2.3 Market Restraints and Challenges 38

2.4 Emerging Opportunities and Market Trends 41

2.5 Porter’s Fiver Forces Analysis 44

3 Segmentation of Global Market by Technology 48

3.1 Market Overview by Technology 48

3.2 Ultrasonic Testing Equipment 51

3.3 Radiography Testing Equipment 52

3.4 Visual Inspection Equipment 53

3.5 Magnetic Particle Equipment 54

3.6 Liquid Penetrant Testing Equipment 55

3.7 Eddy Current Equipment 56

3.8 Acoustic Emission Equipment 57

3.9 Other Technologies 58

4 Segmentation of Global Market by Method 59

4.1 Market Overview by Method 59

4.2 Volumetric Examination 62

4.3 Surface Examination 63

4.4 Visual Inspection 64

4.5 Other Methods 65

5 Segmentation of Global Market by Industry Vertical 66

5.1 Market Overview by Industry Vertical 66

5.2 Oil and Gas 69

5.3 Manufacturing 70

5.4 Power and Energy 71

5.5 Aerospace and Defense 72

5.6 Automotive and Transportation 73

5.7 Construction & Infrastructure 74

5.8 Electronics & Semiconductors 75

5.9 Other Industry Verticals 76

6 Segmentation of Global Market by Region 77

6.1 Geographic Market Overview 2023-2033 77

6.2 North America Market 2023-2033 by Country 82

6.2.1 Overview of North America Market 82

6.2.2 U.S. 86

6.2.3 Canada 90

6.2.4 Mexico 93

6.3 European Market 2023-2033 by Country 96

6.3.1 Overview of European Market 96

6.3.2 Germany 100

6.3.3 U.K. 103

6.3.4 France 106

6.3.5 Spain 109

6.3.6 Italy 112

6.3.7 Russia 115

6.3.8 Rest of European Market 118

6.4 Asia-Pacific Market 2023-2033 by Country 120

6.4.1 Overview of Asia-Pacific Market 120

6.4.2 Japan 124

6.4.3 China 128

6.4.4 Australia 131

6.4.5 India 134

6.4.6 South Korea 137

6.4.7 Rest of APAC Region 140

6.5 South America Market 2023-2033 by Country 142

6.5.1 Argentina 146

6.5.2 Brazil 149

6.5.3 Chile 152

6.5.4 Rest of South America Market 155

6.6 MEA Market 2023-2033 by Country 156

6.6.1 UAE 160

6.6.2 Saudi Arabia 163

6.6.3 South Africa 166

6.6.4 Other National Markets 169

7 Competitive Landscape 170

7.1 Overview of Key Vendors 170

7.2 New Product Launch, Partnership, Investment, and M&A 174

7.3 Company Profiles 175

Acuren Inspection Inc. 175

Applied Technical Services, Inc. 177

Applus+ Laboratories 178

Ashtead Technology Ltd. 179

Baker Hughes 180

Bureau Veritas SA 181

Controle Mesure Systemes SAS 182

Fujifilm Corporation (Fujifilm Holdings Corporation) 183

Innospection Limited 184

Intertek Group PLC 185

Magnaflux Corp. (Illinois Tool Works Inc.) 186

Mistras Group Inc. 187

Nikon Metrology Nv (Nnikon Corporation) 188

Okondt Group 189

Olympus Corporation 190

SGS Group 191

TEAM Inc. 192

Yxlon International GMBH (Comet Holding AG) 193

8 Investing in Non-Destructive Testing (NDT) Equipment Industry: Risk Assessment and Management 194

8.1 Risk Evaluation of Global Market 194

8.2 Critical Success Factors (CSFs) 201

RELATED REPORTS 204

Tables & Figures:
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Research Methodology:
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Non-Destructive Testing (NDT) Market Size Estimation

To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.

Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.

Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.

We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.

Data Source

Secondary Sources

This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.

These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.

Market Size
  • Segmental value
  • Geographic Penetration
  • Product Adoption Rate for Different market
  • Journals, Websites, and Press Releases
  • Annual Reports and SEC Filings
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Market Intellix Data Repository
Market Position of Top Company
  • Product Financials
  • Geographic value Mix
  • Total Company value
  • Business/Segmental value Mix
Qualitative Analysis
  • Influence Factors
  • Market Potential
  • Market Risks and Opportunities
  • Industry Trends
  • Geographical Features
  • Government Policies
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Annual Reports
  • Industry Associations
  • Market Intellix Data Repository

Primary Sources

As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.

On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.

These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.

Key Data Information from Primary Sources

Primary Sources Parameters Key Data
Market Segments(by Application, by Type)
  • Value by Type
  • Status and Forecast
  • Value by Application
  • Value by Regions, Status and Forecast (2025-2031)
  • Value Market Share by Type
  • Value Growth Rate by Type
  • Value by Application
  • Percentage and Growth Rate by Application
  • Value Growth Rate and Market Share by Regions
  • Market Size Status and Forecast (2025-2031)
Total Market
  • Overall Size, Status and Forecast
  • Market Size Status and Forecast (2025-2031)
Frequently asked questions(FAQ's):
Is the Non-Destructive Testing (NDT) Market shifting its focus from growth to value?
Recognize the areas along the Non-Destructive Testing (NDT) Market's value chain where players are generating value. To get a complete picture, kindly read the entire report.
What years are taken into account in the Non-Destructive Testing (NDT) Market study?
The Non-Destructive Testing (NDT) Market study evaluates the year spans as follows: Historical year: 2019 to 2024; Base year: 2024; Forecast period**: 2025 to 2030 [** unless otherwise stated]
What trends may have an impact on the Non-Destructive Testing (NDT) Market's growth?
A handful of disruptive trends, nevertheless, will have a contradictory and significant impact on the development of the Non-Destructive Testing (NDT) Market as well as its distribution among its players
What is the estimated global market value of the Non-Destructive Testing (NDT) Market?
The Non-Destructive Testing (NDT) Market is expected to reach a considerable market valuation.