NDT Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Non Destructive Testing (NDT) Equipment Manufacturers and it 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 Equipment Market Size

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Non-Destructive Testing (NDT) Equipment Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 3.02 Billion
Market Size (2029) USD 4.28 Billion
CAGR (2024 - 2029) 7.20 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Non-Destructive Testing (NDT) Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Non-Destructive Testing Equipment Market Analysis

The Non-Destructive Testing Equipment Market size is estimated at USD 3.02 billion in 2024, and is expected to reach USD 4.28 billion by 2029, growing at a CAGR of 7.20% during the forecast period (2024-2029).

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.
  • NDT emerged as the most feasible method for monitoring the aging of structures periodically, in place of traditional methods. The restrictive cost and challenge of constructing new infrastructure resulted in the notable aging of existing structures and prompted companies to explore ways to extend the life of existing assets.
  • There has been an incremental rise in the demand for skilled NDT technicians across the world. The demand currently outweighs the supply due to many reasons. Non-destructive testing can only be performed by certified professionals who undergo detailed training in the presence of subject-matter experts to gain expertise on the various techniques and skills involved in analyzing the data.
  • During the beginning of the pandemic, lockdown measures significantly reduced electricity demand in the commercial and industrial sectors. The International Energy Agency (IEA) estimated that the global electricity demand would be decreased by 2.5% in Q1 2020, and it showed an approximately 5% contraction by the end of the year. This contraction ultimately resulted in the slowdown of expansion projects, which, in case, slowed down the requirement for radiography testing in the projects. After experiencing a steep decline in 2020, global electricity demand was expected to rebound modestly in 2021. With the recovery of the world economy in 2021, electricity demand was forecast to grow by around 3%. Moreover, the growth of renewable power generation was forecast to continue in 2021, with an increase of more than 6% .

Non-Destructive Testing Equipment Market Trends

This section covers the major market trends shaping the Non-Destructive Testing Equipment Market according to our research experts:

Oil and Gas holds Highest Market Share

  • 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.
  • One of the primary drivers of the increased deployment of NDT technologies is the rising number of oil and gas projects globally. Though oil demand decreased in 2020 due to the pandemic, it has gradually started recovering. For instance, as per IEA, global oil consumption is projected to reach 104.1 mb/d by 2026, representing an increase of 4.4 mb/d from 2019 levels. Moreover, in 2021, there was a significant increase in the global rig fleet as oil demand increased again following the pandemic-induced economic slump.
  • Another driver is the stringent regulatory environments, largely enforced to reduce the number of personnel safety incidents in the oil and gas industry. The increasing instances of infrastructure failures, such as refinery blasts, leakages in nuclear reactors, and pipeline explosions, in recent times have prompted governments around the world to enact stringent safety regulations, driving increased adoption of NDT equipment.
  • Moreover, Waygate Technologies, a provider of (NDT) solutions for industrial inspection, presented selected highlights of advanced robotic and remote visual inspection at the SPRINT Robotics World Conference 2022. The exhibited solutions were expected to create new ways to inspect the oil and gas as well as petrochemical industries by eliminating the need for a human entry in confined and hazardous spaces.
Non-Destructive Testing (NDT) Equipment Market : Number of Oil and Gas Rigs, Global, by Region, 2022

Asia Pacific is Expected to be the Fastest Growing Market

  • The end-user industries in the United States, such as manufacturing, transportation, aviation, oil and gas, marine, and power generation, among others, are governed by many different federal and state agencies that require mandatory NDT testing for inspection. Non-destructive testing (NDT) ensures the continued operation and safety of infrastructure and equipment across the United States. Often, the use of non-destructive testing equipment is required in the United States as a law.
  • For instance, according to the Federal Aviation Administration (FAA), the 200,000+ aircraft in the United States must undergo periodic safety inspections using NDT. Also, the military equipment is subjected to Department of Defense NDT standards. These standards are often made using the information provided by independent testing associations, such as the American Society for Nondestructive Testing (ASNT).
  • According to the US Energy Information Administration, US crude oil production averaged 9.9 million b/d in February 2021, which was down by 1.2 million b/d from January. The US crude oil production in the forecast averages 11.3 million b/d in the fourth quarter of 2021 and then rises to an average of 11.8 million b/d in 2022. The need for more pipeline transportation capacity and increasing crude oil production have propelled the expansion of crude oil pipeline infrastructure. Such an increase in the need for oil and gas infrastructure is expected to fuel the demand for NDT equipment in the market.
  • The Canadian GDP is majorly dominated by the oil and gas sector, with capital investments and exports. Attractive provincial incentives to encourage drilling, increased implementation of long horizontal wells and multistage fracturing in shale resources are the major drivers in the growth of the Canadian oil and gas industry. Also, in 2021, the country's oil and gas extraction industry saw growth in revenue after experiencing a turbulent 2020, driven by a rebound in economic activity and demand for energy products. For instance, in 2021, Canada's oil and gas extraction companies reported total assets of USD 452.9 billion, up 2.6% from 2020, as per Statistics Canada.
  • With NDT being one of the most common methods to evaluate the properties of oil and gas pipelines without destroying the serviceability of the original system, the increase in oil and gas production translates to a higher demand for the market. The aerospace industry in Canada continues to be a significant contributor to the economy and accounts for a substantial portion of the total demand for NDT equipment in the region. As per the State of Canada's Aerospace Industry Report released by the Aerospace Industries Association of Canada (AIAC), in partnership with Innovation, Science, and Economic Development Canada (ISED), the Canadian aerospace industry contributed over USD 24 billion in GDP in 2021.
Non-Destructive Testing (NDT) Equipment Market : Growth By Region

Non-Destructive Testing Equipment Industry Overview

The Non-Destructive Testing (NDT) Equipment Market concentration is moderately high with the presence of key players like Olympus Corporation, Baker Hughes, YXLON International GmbH (COMET Holding AG), OkoNDT group, and Applus+ Laboratories among others. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

  • September 2022 - WaygateTechnologies, a Baker Hughes business and world leader in nondestructive testing (NDT) solutions for industrial inspection, introduced Krautkrämer SpotVision, a new phased array ultrasonic solution for spot weld inspection. By using the inspection device, e.g., on chassis parts during the manufacturing process, car companies can reduce downtime while ensuring that their products meet high-quality standards and product safety is guaranteed. The Krautkrämer SpotVisionsolution combines a new phased array probe with the latest software and the KrautkrämerMentor UT flaw detector.
  • March 2022 - Bureau Veritas joined VAKT, a blockchain-enabled platform designed to shape trust between commodities traders. With its help, the company would receive nominations digitally via the platform and upload all test and inspection data once work is complete.

Non-Destructive Testing Equipment Market Leaders

  1. Olympus Corporation

  2. Baker Hughes

  3. YXLON International GmbH (COMET Holding AG)

  4. OkoNDT group

  5. Applus+ Laboratories

*Disclaimer: Major Players sorted in no particular order

Non-Destructive Testing (NDT) Equipment Market Concentration.jpg
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Non-Destructive Testing Equipment Market News

  • November 2022 - Evident introduced a new video scope IPLEX G Lite-W, designed for wind turbines makes turbine gearbox inspection faster and more efficient. To reduce damage during the inspection, the IPLEX G Lite-W videoscope is IP65-rated dust and water-resistant and designed to meet US Department of Defense Testing (MIL-STD) standards. Designed specifically for some challenges, the IPLEX G Lite-W Videoscope combines portability and high-performance imaging capabilities in a small, ergonomic form factor.
  • October 2022 - Nikon announced a new metrology system named APDIS Intelligent Quality (IQ) for industries aiming to measure the geometry of medium-to-large parts-from a car door, casting, or fabrication to a whole car chassis or airframe structure. According to the company, this new system would offer a spectrum of laser radar solutions as an alternative to traditional, slow, monolithic, inflexible panel machines and large-volume, horizontal-arm CMMs.
  • July 2022 - WaygateTechnologies, a Baker Hughes business, signed a Memorandum of Understanding (MoU) with the UK Battery Industrialisation Centre(UKBIC). The aim of this MoU is to accelerate battery technology development by combining UKBIC's pioneering manufacturing research facility and WaygateTechnologies' deep domain knowledge as a world-class provider of digital industrial computed tomography (CT) inspection solutions to deliver a digital twin, optimizing the production of all types of batteries and the yield of gigafactories.

Non-Destructive Testing Equipment Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five ForceS Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Stringent Regulations Mandating Safety

      2. 5.1.2 Aging Infrastructure and Increasing Need for Maintenance

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Skilled Personnel and Training Facilities

  6. 6. MARKET SEGMENTATION

    1. 6.1 Technology

      1. 6.1.1 Radiography Testing Equipment

      2. 6.1.2 Ultrasonic Testing Equipment

      3. 6.1.3 Magnetic Particle Testing Equipment

      4. 6.1.4 Liquid Penetrant Testing Equipment

      5. 6.1.5 Visual Inspection Equipment

      6. 6.1.6 Eddy Current Equipment

      7. 6.1.7 Other Technologies Equipment

    2. 6.2 End-user Industry

      1. 6.2.1 Oil and Gas

      2. 6.2.2 Power and Energy

      3. 6.2.3 Aerospace and Defense

      4. 6.2.4 Automotive and Transportation

      5. 6.2.5 Construction

      6. 6.2.6 Other End-user Industries

    3. 6.3 Geography

      1. 6.3.1 North America

        1. 6.3.1.1 United States

        2. 6.3.1.2 Canada

      2. 6.3.2 Europe

        1. 6.3.2.1 United Kingdom

        2. 6.3.2.2 Germany

        3. 6.3.2.3 France

        4. 6.3.2.4 Russia

        5. 6.3.2.5 Italy

        6. 6.3.2.6 Rest of Europe

      3. 6.3.3 Asia Pacific

        1. 6.3.3.1 China

        2. 6.3.3.2 India

        3. 6.3.3.3 South Korea

        4. 6.3.3.4 Australia

        5. 6.3.3.5 Rest of Asia Pacific

      4. 6.3.4 Latin America

        1. 6.3.4.1 Mexico

        2. 6.3.4.2 Brazil

        3. 6.3.4.3 Argentina

        4. 6.3.4.4 Rest of Latin America

      5. 6.3.5 Middle East and Africa

        1. 6.3.5.1 Saudi Arabia

        2. 6.3.5.2 United Arab Emirates

        3. 6.3.5.3 Qatar

        4. 6.3.5.4 Rest of Middle East and Africa

  7. 7. COMPETITIVE INTELLIGENCE

    1. 7.1 Company Profiles

      1. 7.1.1 Olympus Corporation

      2. 7.1.2 Baker Hughes

      3. 7.1.3 YXLON International GmbH (COMET Holding AG)

      4. 7.1.4 OkoNDT group

      5. 7.1.5 Applus+ Laboratories

      6. 7.1.6 Mistras Group Inc.

      7. 7.1.7 Controle Mesure Systemes SA

      8. 7.1.8 Fujifilm Corporation

      9. 7.1.9 Bureau Veritas SA

      10. 7.1.10 Nikon Metrology NV

      11. 7.1.11 Intertek Group PLC

      12. 7.1.12 Innospection Limited

      13. 7.1.13 Magnaflux Corp.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability
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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.

For each segment, the market sizing and forecasts have been provided on the basis of value (in USD million) and volume (in metric tons).

Technology
Radiography Testing Equipment
Ultrasonic Testing Equipment
Magnetic Particle Testing Equipment
Liquid Penetrant Testing Equipment
Visual Inspection Equipment
Eddy Current Equipment
Other Technologies Equipment
End-user Industry
Oil and Gas
Power and Energy
Aerospace and Defense
Automotive and Transportation
Construction
Other End-user Industries
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Russia
Italy
Rest of Europe
Asia Pacific
China
India
South Korea
Australia
Rest of Asia Pacific
Latin America
Mexico
Brazil
Argentina
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Qatar
Rest of Middle East and Africa
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Non-Destructive Testing Equipment Market Research FAQs

The Non-Destructive Testing (NDT) Equipment Market size is expected to reach USD 3.02 billion in 2024 and grow at a CAGR of 7.20% to reach USD 4.28 billion by 2029.

In 2024, the Non-Destructive Testing (NDT) Equipment Market size is expected to reach USD 3.02 billion.

Olympus Corporation, Baker Hughes, YXLON International GmbH (COMET Holding AG), OkoNDT group and Applus+ Laboratories are the major companies operating in the Non-Destructive Testing (NDT) Equipment Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Non-Destructive Testing (NDT) Equipment Market.

In 2023, the Non-Destructive Testing (NDT) Equipment Market size was estimated at USD 2.82 billion. The report covers the Non-Destructive Testing (NDT) Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Non-Destructive Testing (NDT) Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Non-Destructive Testing Equipment Industry Report

Statistics for the 2024 Non-Destructive Testing Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Non-Destructive Testing Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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NDT Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)