North America Non-Destructive Testing Equipment Market, By Type (Radiography Testing Equipment, Ultrasonic Testing Equipment, Magnetic Particle Testing Equipment, Liquid Penetrant Testing Equipment, Visual Inspection Equipment, Eddy Current Equipment, Other Technologies), Method (Visual Inspection, Surface Inspection, Volumetric Inspection), Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), Vertical (Manufacturing, Oil and Gas, Aerospace and Defence, Public Infrastructure, Automotive, Power Generation) – Industry Trends and Forecast to 2030.
North America Non-Destructive Testing Equipment Market Analysis and Size
Safety is the major concern for workers in any process plant. In last few years, stringent government rules and regulations have been formulated to ensure product quality and public safety. Codes defining the best practices require asset owners to use non-destructive testing equipment to agree with an inspection regime in a cost-beneficial way. The “volumetric inspection “is expected to be the fastest-growing method segment during the forecast period due to the widespread usage of volumetric examination in the oil and gas industry.
Data Bridge Market Research analyses that the non-destructive testing equipment market is expected to reach USD 7.38 billion by 2030, which is USD 3.96 billion in 2022, registering a CAGR of 8.10% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
North America Non-Destructive Testing Equipment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Radiography Testing Equipment, Ultrasonic Testing Equipment, Magnetic Particle Testing Equipment, Liquid Penetrant Testing Equipment, Visual Inspection Equipment, Eddy Current Equipment, Other Technologies), Method (Visual Inspection, Surface Inspection, Volumetric Inspection), Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), Vertical (Manufacturing, Oil and Gas, Aerospace and Defence, Public Infrastructure, Automotive, Power Generation)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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General Electric (U.S.), Fujilim Corporation (Japan), Ashtead Group plc (U.K.), SOCOMORE (U.S.), Mistras Group (U.S.), Olympus Corporation (Japan), Nikon Metrology NV. (U.S.), Magnaflux (U.S.), Zetec Inc. (U.S.), Eddfyi (Canada), Sonatest (U.K.), Carestream Health (U.S.), Intertek Group Plc (U.K.), and SGS SA (U.S.)
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Market Opportunities
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Market Definition
Non-destructive testing equipment is a valuable equipment which is used by many industries to estimate the properties of a structure, material, component or system without causing any damage. Numerous types of non-destructive testing equipment include ultrasonic testing, magnetic particle testing, visual inspection, radiography and penetrant testing.
North America Non-Destructive Testing Equipment Market Dynamics
Drivers
- Increasing demand of non-destructive testing equipment for safety and quality control purposes
Non-Destructive testing equipment is used for quality control and safety assessment purposes. Their usage has extensive advantages over applications, such as in aerospace for inspecting the aircraft, in automotive for maintaining quality assurance, and many others. The equipment is based on the medical radiography which is used in a hospital. It is extensively used in petrochemical, chemical, and building industries for radiographic inspection of boilers, pipes and structures. It is employed to inspect aircraft parts, metal welding, vehicle parts and, in the airport, to examine both carry-on hand luggage and hold luggage.
- Growing demand of non-destructive testing equipment in power generation industry
The non-destructive testing equipment market accounted for an augmented demand from the power generation industry because most of these established plants have aged and were constructed and designed using materials, standards and components, therefore, meeting industrial practices prevalent at the time of construction. Exposure to environmental conditions can cause damages to unforeseen. Non-destructive testing equipment provides that purpose to check any such flaws and aid solve the problem before it increases.
Opportunities
- Increasing advancement in new development projects
Growing oil and gas projects in the North America is anticipated to deploy non-destructive testing equipment techniques to complete the projects in suggested timelines and with finesse, thus boosting the demand for non-destructive testing equipment in these regions and create lucrative opportunities for the market growth. Moreover, the technological advancements in non-destructive testing technology have led to the growth of radiographic testing equipment for instance industrial CT scanners, which accurately detect faults in components and machinery.
Restraints/ Challenges
- High cost and lack awareness associated with non-destructive testing equipment
Lack of qualified technicians and high cost of these equipment are anticipated to obstruct the market's growth. Moreover, lack of awareness regarding new non-destructive testing equipment inspection methods is expected to challenge the market growth during the forecast period of 2023-2030.
This non-destructive testing equipment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the non-destructive testing equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Covid-19 Impact on North America Non-Destructive Testing Equipment Market
The outbreak of COVID-19 pandemic has turned out to be unforeseen and unfavourable for almost all industries globally, including manufacturing, automotive, construction, and airlines among others. As a preventive measure, numerous governments implemented lockdowns to contain the coronavirus's spread and its consequent negative effects worldwide. The decreased industrial productivity and disrupted global supply chain strained the global economy. The companies' manufacturing and production capabilities were also disturbed due to the coronavirus outbreak.Moreover, the impact of the pandemic on the non-destructive testing equipment market stems from the increasing reaction of relatable industries, which uses these testing for their operations, to the pandemic. For instance, the defense sector has been affected slightly as compared to other sectors, owing to budget government spending, which protects the demand and supply ecosystem
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
North America Non-Destructive Testing Equipment Market Scope
The non-destructive testing equipment market is segmented on the type, method, service, vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Radiography Testing Equipment
- Ultrasonic Testing Equipment
- Magnetic Particle Testing Equipment
- Liquid Penetrant Testing Equipment
- Visual Inspection Equipment
- Eddy Current Equipment
- Other Technologies
Method
- Visual Inspection
- Surface Inspection
- Volumetric Inspection
Service
- Inspection Services
- Equipment Rental Services
- Calibration Services
- Training Services
Vertical
- Manufacturing
- Oil and Gas
- Aerospace and Defence
- Public Infrastructure
- Automotive
- Power Generation
Non-Destructive Testing Equipment Market Regional Analysis/Insights
The non-destructive testing equipment market is analyzed and market size insights and trends are provided by country, type, method, service, vertical as referenced above.
The countries covered in the non-destructive testing equipment market report U.S., Canada and Mexico in North America.
U.S. dominates the North America non-destructive testing equipment market in terms of revenue and market share. This is mainly due to the increase in technological developments in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Non-Destructive Testing Equipment Market Share Analysis
The non-destructive testing equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to non-destructive testing equipment market.
Some of the major players operating in the non-destructive testing equipment market are:
- General Electric (U.S.)
- Fujilim Corporation (Japan)
- Ashtead Group plc (U.K.)
- SOCOMORE (U.S.)
- Mistras Group (U.S.)
- Olympus Corporation (Japan)
- Nikon Metrology NV. (U.S.)
- Magnaflux (U.S.)
- Zetec Inc. (U.S.)
- Eddfyi (Canada)
- Sonatest (U.K.)
- Carestream Health (U.S.)
- Intertek Group Plc (U.K.)
- SGS SA (U.S.)
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