Business Opportunities and Investment Strategies for Global Non Destructive Testing and Inspection Market

Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT) and Inspection Market 2023-2033

Business Opportunities and Investment Strategies for Global Non Destructive Testing and Inspection Market

Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT) and Inspection Market 2023-2033


Insights into the Non-Destructive Testing (NDT) and Inspection Market include supply chain optimization, Non-Destructive Testing (NDT) and Inspection challenges, and growth forecasts segmented by region and service type.

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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) and inspection 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) and inspection 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) and inspection 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) and inspection market is expected to reach $22.26 billion by 2033, growing by 8.7% annually over the coming years.

Segmentation Analysis

Highlighted with 91 tables and 116 figures, this 231-page report represents a 360-degree view on the global market with extensively detailed segmentations by Offering, Technology, Method, Application, Material, Industry Vertical, and Region/Country as shown below. Annual revenue 2023-2033 for each segment is included in the report.

By Offering

• Hardware

o Detectors

o Transducers & Probes

o Gauges

o Scanners

o Microscopes

o Other Hardware

• Services

o Inspection Services

o Calibration Services

o Equipment Rental Services

o Training Services

o Consulting Services

• Software

o Standard Software

o Customized Software

By Technology

• Ultrasonic Testing

• Radiography Testing

• Visual Testing

• Magnetic Particle Testing

• Liquid Penetrant Testing

• Eddy Current Testing

• Acoustic Emission Testing

• Other Technologies

By Method

• Volumetric Examination

• Surface Examination

• Visual Inspection

• Other Methods

By Application

• Flaw Detection

• Dimensional Measurement

• Chemical Composition Determination

• Stress and Structure Analysis

• Physical Properties Estimation

• Leak Detection

• Other Applications

By Material

• Ferrous Forgings & Stampings

• Ferrous Raw Materials & Rolled Products

• Ferrous Tube & Pipe

• Iron & Steel Castings

• Non-Ferrous Components & Materials

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 Offering, Technology, and Application 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 12

1.1 Industry Definition and Research Scope 12

1.1.1 Industry Definition 12

1.1.2 Research Scope 13

1.2 Research Methodology 16

1.2.1 Overview of Market Research Methodology 16

1.2.2 Market Assumption 17

1.2.3 Secondary Data 17

1.2.4 Primary Data 17

1.2.5 Data Filtration and Model Design 18

1.2.6 Market Size/Share Estimation 19

1.2.7 Research Limitations 20

1.3 Executive Summary 21

2 Market Overview and Dynamics 24

2.1 Market Size and Forecast 24

2.1.1 Impact of COVID-19 on World Economy 25

2.1.2 Impact of COVID-19 on the Market 29

2.1.3 Impact of Russia-Ukraine Conflict 31

2.1.4 Impact of Israel-Palestine War 33

2.2 Major Growth Drivers 34

2.3 Market Restraints and Challenges 39

2.4 Emerging Opportunities and Market Trends 42

2.5 Porter’s Fiver Forces Analysis 45

3 Segmentation of Global Market by Offering 49

3.1 Market Overview by Offering 49

3.2 Hardware 52

3.3 Services 54

3.4 Software 56

4 Segmentation of Global Market by Technology 58

4.1 Market Overview by Technology 58

4.2 Ultrasonic Testing 61

4.3 Radiography Testing 62

4.4 Visual Testing 63

4.5 Magnetic Particle Testing 64

4.6 Liquid Penetrant Testing 65

4.7 Eddy Current Testing 66

4.8 Acoustic Emission Testing 67

4.9 Other Technologies 68

5 Segmentation of Global Market by Method 69

5.1 Market Overview by Method 69

5.2 Volumetric Examination 72

5.3 Surface Examination 73

5.4 Visual Inspection 74

5.5 Other Methods 75

6 Segmentation of Global Market by Application 76

6.1 Market Overview by Application 76

6.2 Flaw Detection 79

6.3 Dimensional Measurement 80

6.4 Chemical Composition Determination 81

6.5 Stress and Structure Analysis 82

6.6 Physical Properties Estimation 83

6.7 Leak Detection 84

6.8 Other Applications 85

7 Segmentation of Global Market by Material 86

7.1 Market Overview by Material 86

7.2 Ferrous Forgings & Stampings 89

7.3 Ferrous Raw Materials & Rolled Products 90

7.4 Ferrous Tube & Pipe 91

7.5 Iron & Steel Castings 92

7.6 Non-Ferrous Components & Materials 93

8 Segmentation of Global Market by Industry Vertical 94

8.1 Market Overview by Industry Vertical 94

8.2 Oil and Gas 97

8.3 Manufacturing 98

8.4 Power and Energy 99

8.5 Aerospace and Defense 100

8.6 Automotive and Transportation 101

8.7 Construction & Infrastructure 102

8.8 Electronics & Semiconductors 103

8.9 Other Industry Verticals 104

9 Segmentation of Global Market by Region 105

9.1 Geographic Market Overview 2023-2033 105

9.2 North America Market 2023-2033 by Country 110

9.2.1 Overview of North America Market 110

9.2.2 U.S. 114

9.2.3 Canada 118

9.2.4 Mexico 121

9.3 European Market 2023-2033 by Country 124

9.3.1 Overview of European Market 124

9.3.2 Germany 128

9.3.3 U.K. 131

9.3.4 France 134

9.3.5 Spain 137

9.3.6 Italy 140

9.3.7 Russia 143

9.3.8 Rest of European Market 146

9.4 Asia-Pacific Market 2023-2033 by Country 148

9.4.1 Overview of Asia-Pacific Market 148

9.4.2 Japan 152

9.4.3 China 156

9.4.4 Australia 159

9.4.5 India 162

9.4.6 South Korea 165

9.4.7 Rest of APAC Region 168

9.5 South America Market 2023-2033 by Country 170

9.5.1 Argentina 174

9.5.2 Brazil 177

9.5.3 Chile 180

9.5.4 Rest of South America Market 183

9.6 MEA Market 2023-2033 by Country 184

9.6.1 UAE 188

9.6.2 Saudi Arabia 191

9.6.3 South Africa 194

9.6.4 Other National Markets 197

10 Competitive Landscape 198

10.1 Overview of Key Vendors 198

10.2 New Product Launch, Partnership, Investment, and M&A 201

10.3 Company Profiles 202

Acuren Inspection Inc. 202

Applied Technical Services, Inc. 204

Applus+ Laboratories 205

Ashtead Technology Ltd. 206

Baker Hughes 207

Bureau Veritas SA 208

Controle Mesure Systemes SAS 209

Fujifilm Corporation (Fujifilm Holdings Corporation) 210

Innospection Limited 211

Intertek Group PLC 212

Magnaflux Corp. (Illinois Tool Works Inc.) 213

Mistras Group Inc. 214

Nikon Metrology Nv (Nnikon Corporation) 215

Okondt Group 216

Olympus Corporation 217

SGS Group 218

TEAM Inc. 219

Yxlon International GMBH (Comet Holding AG) 220

11 Investing in Non-Destructive Testing (NDT) and Inspection Industry: Risk Assessment and Management 221

11.1 Risk Evaluation of Global Market 221

11.2 Critical Success Factors (CSFs) 228

RELATED REPORTS 231

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) and Inspection 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) and Inspection Market shifting its focus from growth to value?
Recognize the areas along the Non-Destructive Testing (NDT) and Inspection 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) and Inspection Market study?
The Non-Destructive Testing (NDT) and Inspection 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) and Inspection 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) and Inspection Market as well as its distribution among its players
What are the top priorities for the growth of the Non-Destructive Testing (NDT) and Inspection Market?
In this highly competitive and rapidly evolving Non-Destructive Testing (NDT) and Inspection Industry, top strategic priorities such as innovation, diversification, and M&A would remain consistent.