Non-Destructive Testing (NDT) Services Market Overview
The Non-Destructive
Testing Services Market will
obtain a CAGR of 13.50 % and a value of 23.2 billion between 2022 to 2030 in
the forecast period. Nowadays, the demand for
non-destructive drug testing services is increasing as different workplaces and
businesses have understood the significance of ensuring that employees are away
from illegal controlled substances. They must be responsible for having information
from all sources regarding the materials in question.
The
non-destructive drug testing services market is driving the market growth due
to the high use of internet connectivity in many industries and companies'
dependence on renewable energy sources to operate with electrical energy.
Further, the high investment in research and development has brought more
opportunities for the global market players and manufacturers.
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However,
the Non-Destructive Testing Services are quite expensive and easily affordable
for the larger companies, but the real sufferers are the small companies who
cannot afford this. Hence, this can hamper the Non-Destructive
Testing (NDT) Services Market Trends. For instance, the demand
for non-destructive drug testing services has been reduced during the covid-19
period due to the closure of offices or the rising work from home facilities.
Non-Destructive
Testing (NDT) Services Market Segmentation
The global
market report has segmented the current market based on technique, type,
verticals, and applications.
Based on
the technique segment, the Non-Destructive Testing Services Market Trends have
been segmented into radiographic testing, ultrasonic testing, penetrant
testing, eddy-current testing, magnetic particle testing, and liquid testing.
The ultrasonic testing sub-segment is projected to generate the largest Non-Destructive
Testing (NDT) Services Market Share during the review
period.
The global
market has been classified into advanced and traditional testing services based
on type segments. The current market has been segmented into infrastructure,
aerospace and defense, oil and gas, automotive, and power in the vertical
segment. The worldwide market has been divided into flaw detection, physical
properties estimation, leak detection, stress and structure analysis, chemical
composition determination, and dimensional measurement based on the application
segment.
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Non-Destructive
Testing (NDT) Services Market Regional Analysis
The
global Non-Destructive Testing (NDT) Services Market Trends segregated
based on regional segments that include North America, South America, Europe,
Asia Pacific, and others.
The North
American region dominates the global market by generating the largest market
share for the research timeframe. This region is growing the Non-Destructive
Testing (NDT) Services because of America's rising use of drugs.
Moreover,
the countries like America and Canada are leading the regional market due to
the more prevalent usage of the Internet of Things and better technologies. For
example, the Fitbit smart watch wearable technology and Alexa. In addition,
North America has a well-built infrastructure and advanced technologies to
operate, boosting the market growth in the research period.
Industry
News
Recently,
a major Japanese company named Olympus Corporation has shifted its attention
towards research and development and significant investments. This spending has
allowed the company to become an industry leader in the global market. Apart
from that, the prominent market player Mistras Group has developed new testing
services to show its presence in the worldwide market.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The
Study
2.2.1 Research
Objectives
2.2.2 Assumptions
& Limitations
2.3 Markets
Structure
3 Market Research Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
4 Market Landscape
4.1 Five Forces
Analysis
4.1.1 Threat Of
New Entrants
4.1.2 Bargaining
Power Of Buyers
4.1.3 Threat Of
Substitutes
4.1.4 Segment
Rivalry
4.2 Value
Chain/Supply Chain Of Global Non-Destructive Testing Services Market
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