Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT) and Inspection Market 2023-2033
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
List of Tables:
Table 1. Snapshot of Global Non-Destructive Testing (NDT) and Inspection Market in Balanced Perspective, 2023-2033 22
Table 2. World Economic Outlook, 2024-2036 26
Table 3. World Economic Outlook, 2022-2024 28
Table 4. Scenarios for Economic Impact of Ukraine Crisis 32
Table 5. Scenarios for Economic Impact of Israel-Palestine War 33
Table 6. Main Product Trends and Market Opportunities in Global Non-Destructive Testing (NDT) and Inspection Market 42
Table 7. Global Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 50
Table 8. Global Non-Destructive Testing (NDT) and Inspection Market: Hardware by Type, 2023-2033, $ mn 53
Table 9. Global Non-Destructive Testing (NDT) and Inspection Market: Services by Type, 2023-2033, $ mn 55
Table 10. Global Non-Destructive Testing (NDT) and Inspection Market: Software by Category, 2023-2033, $ mn 57
Table 11. Global Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 59
Table 12. Global Non-Destructive Testing (NDT) and Inspection Market by Method, 2023-2033, $ mn 70
Table 13. Global Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 77
Table 14. Global Non-Destructive Testing (NDT) and Inspection Market by Material, 2023-2033, $ mn 87
Table 15. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical, 2023-2033, $ mn 95
Table 16. Global Non-Destructive Testing (NDT) and Inspection Market by Region, 2023-2033, $ mn 107
Table 17. Leading National Non-Destructive Testing (NDT) and Inspection Market, 2023 and 2033, $ mn 109
Table 18. North America Non-Destructive Testing (NDT) and Inspection Market by Country, 2023-2033, $ mn 112
Table 19. U.S. Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 116
Table 20. U.S. Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 116
Table 21. U.S. Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 117
Table 22. Canada Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 119
Table 23. Canada Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 119
Table 24. Canada Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 120
Table 25. Mexico Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 122
Table 26. Mexico Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 122
Table 27. Mexico Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 123
Table 28. Europe Non-Destructive Testing (NDT) and Inspection Market by Country, 2023-2033, $ mn 126
Table 29. Germany Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 129
Table 30. Germany Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 129
Table 31. Germany Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 130
Table 32. U.K. Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 132
Table 33. U.K. Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 132
Table 34. U.K. Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 133
Table 35. France Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 135
Table 36. France Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 135
Table 37. France Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 136
Table 38. Spain Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 138
Table 39. Spain Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 138
Table 40. Spain Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 139
Table 41. Italy Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 141
Table 42. Italy Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 141
Table 43. Italy Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 142
Table 44. Russia Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 144
Table 45. Russia Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 144
Table 46. Russia Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 145
Table 47. Non-Destructive Testing (NDT) and Inspection Market in Rest of Europe by Country, 2023-2033, $ mn 147
Table 48. APAC Non-Destructive Testing (NDT) and Inspection Market by Country, 2023-2033, $ mn 150
Table 49. Japan Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 154
Table 50. Japan Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 154
Table 51. Japan Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 155
Table 52. China Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 157
Table 53. China Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 157
Table 54. China Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 158
Table 55. Australia Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 160
Table 56. Australia Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 160
Table 57. Australia Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 161
Table 58. India Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 163
Table 59. India Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 163
Table 60. India Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 164
Table 61. South Korea Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 166
Table 62. South Korea Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 166
Table 63. South Korea Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 167
Table 64. Non-Destructive Testing (NDT) and Inspection Market in Rest of APAC by Country/Region, 2023-2033, $ mn 169
Table 65. South America Non-Destructive Testing (NDT) and Inspection Market by Country, 2023-2033, $ mn 172
Table 66. Argentina Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 175
Table 67. Argentina Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 175
Table 68. Argentina Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 176
Table 69. Brazil Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 178
Table 70. Brazil Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 178
Table 71. Brazil Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 179
Table 72. Chile Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 181
Table 73. Chile Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 181
Table 74. Chile Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 182
Table 75. MEA Non-Destructive Testing (NDT) and Inspection Market by Country, 2023-2033, $ mn 186
Table 76. UAE Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 189
Table 77. UAE Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 189
Table 78. UAE Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 190
Table 79. Saudi Arabia Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 192
Table 80. Saudi Arabia Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 192
Table 81. Saudi Arabia Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 193
Table 82. South Africa Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, $ mn 195
Table 83. South Africa Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, $ mn 195
Table 84. South Africa Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, $ mn 196
Table 85. Acuren Inspection Inc.: Company Snapshot 202
Table 86. Acuren Inspection Inc.: Business Segmentation 203
Table 87. Acuren Inspection Inc.: Product Portfolio 203
Table 88. List of Risk Factors and Weight Percentages/Theoretical Maximum 222
Table 89. Definition of GMD Relative Risk Index Number (Relative RIN) and GMD Risk Intensity Level (RIL) 224
Table 90. Risk Evaluation for Investing in Global Market, 2023-2033 225
Table 91. Critical Success Factors and Key Takeaways 229List of Figures:
Figure 1. Research Method Flow Chart 16
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 19
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2023-2033 21
Figure 4. Global Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 24
Figure 5. Impact of COVID-19 on Business 29
Figure 6. Primary Drivers and Impact Factors of Global Non-Destructive Testing (NDT) and Inspection Market 34
Figure 7. World Construction Industry, 2019-2030, $ trillion 37
Figure 8. Global Maintenance, Repair & Overhaul (MRO) Market, 2019-2030, $ bn 37
Figure 9. Freighter Global Fleet 2012-2021 38
Figure 10. Primary Restraints and Impact Factors of Global Non-Destructive Testing (NDT) and Inspection Market 39
Figure 11. Porter’s Fiver Forces Analysis of Global Non-Destructive Testing (NDT) and Inspection Market 45
Figure 12. Growth Opportunity Analysis by Offering 49
Figure 13. Breakdown of Global Non-Destructive Testing (NDT) and Inspection Market by Offering, 2023-2033, % of Revenue 50
Figure 14. Global Addressable Market Cap in 2024-2033 by Offering, Value ($ mn) and Share (%) 51
Figure 15. Global Non-Destructive Testing (NDT) and Inspection Market by Offering: Hardware, 2023-2033, $ mn 52
Figure 16. Global Non-Destructive Testing (NDT) and Inspection Market by Offering: Services, 2023-2033, $ mn 54
Figure 17. Global Non-Destructive Testing (NDT) and Inspection Market by Offering: Software, 2023-2033, $ mn 56
Figure 18. Growth Opportunity Analysis by Technology 58
Figure 19. Breakdown of Global Non-Destructive Testing (NDT) and Inspection Market by Technology, 2023-2033, % of Sales Revenue 59
Figure 20. Global Addressable Market Cap in 2024-2033 by Technology, Value ($ mn) and Share (%) 60
Figure 21. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Ultrasonic Testing, 2023-2033, $ mn 61
Figure 22. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Radiography Testing, 2023-2033, $ mn 62
Figure 23. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Visual Testing, 2023-2033, $ mn 63
Figure 24. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Magnetic Particle Testing, 2023-2033, $ mn 64
Figure 25. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Liquid Penetrant Testing, 2023-2033, $ mn 65
Figure 26. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Eddy Current Testing, 2023-2033, $ mn 66
Figure 27. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Acoustic Emission Testing, 2023-2033, $ mn 67
Figure 28. Global Non-Destructive Testing (NDT) and Inspection Market by Technology: Other Technologies, 2023-2033, $ mn 68
Figure 29. Growth Opportunity Analysis by Method 69
Figure 30. Breakdown of Global Non-Destructive Testing (NDT) and Inspection Market by Method, 2023-2033, % of Sales Revenue 70
Figure 31. Global Addressable Market Cap in 2024-2033 by Method, Value ($ mn) and Share (%) 71
Figure 32. Global Non-Destructive Testing (NDT) and Inspection Market by Method: Volumetric Examination, 2023-2033, $ mn 72
Figure 33. Global Non-Destructive Testing (NDT) and Inspection Market by Method: Surface Examination, 2023-2033, $ mn 73
Figure 34. Global Non-Destructive Testing (NDT) and Inspection Market by Method: Visual Inspection, 2023-2033, $ mn 74
Figure 35. Global Non-Destructive Testing (NDT) and Inspection Market by Method: Other Methods, 2023-2033, $ mn 75
Figure 36. Growth Opportunity Analysis by Application 76
Figure 37. Breakdown of Global Non-Destructive Testing (NDT) and Inspection Market by Application, 2023-2033, % of Revenue 77
Figure 38. Global Addressable Market Cap in 2024-2033 by Application, Value ($ mn) and Share (%) 78
Figure 39. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Flaw Detection, 2023-2033, $ mn 79
Figure 40. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Dimensional Measurement, 2023-2033, $ mn 80
Figure 41. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Chemical Composition Determination, 2023-2033, $ mn 81
Figure 42. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Stress and Structure Analysis, 2023-2033, $ mn 82
Figure 43. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Physical Properties Estimation, 2023-2033, $ mn 83
Figure 44. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Leak Detection, 2023-2033, $ mn 84
Figure 45. Global Non-Destructive Testing (NDT) and Inspection Market by Application: Other Applications, 2023-2033, $ mn 85
Figure 46. Growth Opportunity Analysis by Material 86
Figure 47. Breakdown of Global Non-Destructive Testing (NDT) and Inspection Market by Material, 2023-2033, % of Revenue 87
Figure 48. Global Addressable Market Cap in 2024-2033 by Material, Value ($ mn) and Share (%) 88
Figure 49. Global Non-Destructive Testing (NDT) and Inspection Market by Material: Ferrous Forgings & Stampings, 2023-2033, $ mn 89
Figure 50. Global Non-Destructive Testing (NDT) and Inspection Market by Material: Ferrous Raw Materials & Rolled Products, 2023-2033, $ mn 90
Figure 51. Global Non-Destructive Testing (NDT) and Inspection Market by Material: Ferrous Tube & Pipe, 2023-2033, $ mn 91
Figure 52. Global Non-Destructive Testing (NDT) and Inspection Market by Material: Iron & Steel Castings, 2023-2033, $ mn 92
Figure 53. Global Non-Destructive Testing (NDT) and Inspection Market by Material: Non-Ferrous Components & Materials, 2023-2033, $ mn 93
Figure 54. Growth Opportunity Analysis by Industry Vertical 94
Figure 55. Breakdown of Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical, 2023-2033, % of Revenue 95
Figure 56. Global Addressable Market Cap in 2024-2033 by Industry Vertical, Value ($ mn) and Share (%) 96
Figure 57. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Oil and Gas, 2023-2033, $ mn 97
Figure 58. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Manufacturing, 2023-2033, $ mn 98
Figure 59. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Power and Energy, 2023-2033, $ mn 99
Figure 60. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Aerospace and Defense, 2023-2033, $ mn 100
Figure 61. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Automotive and Transportation, 2023-2033, $ mn 101
Figure 62. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Construction & Infrastructure, 2023-2033, $ mn 102
Figure 63. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Electronics & Semiconductors, 2023-2033, $ mn 103
Figure 64. Global Non-Destructive Testing (NDT) and Inspection Market by Industry Vertical: Other Industry Verticals, 2023-2033, $ mn 104
Figure 65. Global Market Snapshot by Region 105
Figure 66. Growth Opportunity Analysis of Global Market by Region 106
Figure 67. Geographic Spread of Worldwide Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, % of Sales Revenue 107
Figure 68. Global Addressable Market Cap in 2024-2033 by Region, Value ($ mn) and Share (%) 108
Figure 69. North American Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 111
Figure 70. Growth Opportunity Analysis of North America Market by Country 111
Figure 71. Breakdown of North America Non-Destructive Testing (NDT) and Inspection Market by Country, 2023 and 2033, % of Revenue 112
Figure 72. Contribution to North America 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 113
Figure 73. U.S. Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 115
Figure 74. Canada Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 118
Figure 75. Non-Destructive Testing (NDT) and Inspection Market in Mexico, 2023-2033, $ mn 121
Figure 76. European Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 125
Figure 77. Growth Opportunity Analysis of Europe Market by Country 125
Figure 78. Breakdown of European Non-Destructive Testing (NDT) and Inspection Market by Country, 2023 and 2033, % of Revenue 126
Figure 79. Contribution to Europe 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 127
Figure 80. Non-Destructive Testing (NDT) and Inspection Market in Germany, 2023-2033, $ mn 128
Figure 81. Non-Destructive Testing (NDT) and Inspection Market in U.K., 2023-2033, $ mn 131
Figure 82. Non-Destructive Testing (NDT) and Inspection Market in France, 2023-2033, $ mn 134
Figure 83. Non-Destructive Testing (NDT) and Inspection Market in Spain, 2023-2033, $ mn 137
Figure 84. Non-Destructive Testing (NDT) and Inspection Market in Italy, 2023-2033, $ mn 140
Figure 85. Non-Destructive Testing (NDT) and Inspection Market in Russia, 2023-2033, $ mn 143
Figure 86. Non-Destructive Testing (NDT) and Inspection Market in Rest of Europe, 2023-2033, $ mn 146
Figure 87. Asia-Pacific Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 149
Figure 88. Growth Opportunity Analysis of Asia-Pacific Market by Country 149
Figure 89. Breakdown of APAC Non-Destructive Testing (NDT) and Inspection Market by Country, 2023 and 2033, % of Revenue 150
Figure 90. Contribution to APAC 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 151
Figure 91. Non-Destructive Testing (NDT) and Inspection Market in Japan, 2023-2033, $ mn 153
Figure 92. Non-Destructive Testing (NDT) and Inspection Market in China, 2023-2033, $ mn 156
Figure 93. Non-Destructive Testing (NDT) and Inspection Market in Australia, 2023-2033, $ mn 159
Figure 94. Non-Destructive Testing (NDT) and Inspection Market in India, 2023-2033, $ mn 162
Figure 95. Non-Destructive Testing (NDT) and Inspection Market in South Korea, 2023-2033, $ mn 165
Figure 96. Non-Destructive Testing (NDT) and Inspection Market in Rest of APAC, 2023-2033, $ mn 168
Figure 97. South America Non-Destructive Testing (NDT) and Inspection Market, 2023-2033, $ mn 171
Figure 98. Growth Opportunity Analysis of South America Market by Country 171
Figure 99. Breakdown of South America Non-Destructive Testing (NDT) and Inspection Market by Country, 2023 and 2033, % of Revenue 172
Figure 100. Contribution to South America 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 173
Figure 101. Non-Destructive Testing (NDT) and Inspection Market in Argentina, 2023-2033, $ mn 174
Figure 102. Non-Destructive Testing (NDT) and Inspection Market in Brazil, 2023-2033, $ mn 177
Figure 103. Non-Destructive Testing (NDT) and Inspection Market in Chile, 2023-2033, $ mn 180
Figure 104. Non-Destructive Testing (NDT) and Inspection Market in Rest of South America, 2023-2033, $ mn 183
Figure 105. Non-Destructive Testing (NDT) and Inspection Market in Middle East and Africa (MEA), 2023-2033, $ mn 185
Figure 106. Growth Opportunity Analysis of MEA Market by Country 185
Figure 107. Breakdown of MEA Non-Destructive Testing (NDT) and Inspection Market by Country, 2023 and 2033, % of Revenue 186
Figure 108. Contribution to MEA 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 187
Figure 109. Non-Destructive Testing (NDT) and Inspection Market in UAE, 2023-2033, $ mn 188
Figure 110. Non-Destructive Testing (NDT) and Inspection Market in Saudi Arabia, 2023-2033, $ mn 191
Figure 111. Non-Destructive Testing (NDT) and Inspection Market in South Africa, 2023-2033, $ mn 194
Figure 112. Non-Destructive Testing (NDT) and Inspection Market in the Rest of MEA, 2023-2033, $ mn 197
Figure 113. Growth Stage of Global Non-Destructive Testing (NDT) and Inspection Industry over the Forecast Period 198
Figure 114. Comparison of Risk Factors by GMD RIN in 2023 225
Figure 115. GMD Relative RIN of Internal Risk Factors in 2023 on Radar Chart 226
Figure 116. GMD Relative RIN of External Risk Factors in 2023 on Radar Chart 226
Methodology/Research Approach
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.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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