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The Business Research Company's NDT Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 It will grow to $23.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.”
— The Business Research Company
LANDON, GREATER LANDON, UNITED KINGDOM, October 4, 2024 /EINPresswire.com/ -- The ndt services market has experienced robust growth in recent years, expanding from $14.84 billion in 2023 to $16.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to infrastructure development, skills development, environmental concerns, cyclical industry trends.
What Is The Estimated Market Size Of The Global NDT Services Market And Its Annual Growth Rate?
The ndt services market is projected to continue its strong growth, reaching $23.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to aerospace industry growth, renewable energy expansion, safety and quality assurance, digitalization and industry 4.0 integration, cost-effective solutions.
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Growth Driver Of The NDT Services Market
An increase in the use of renewable energy resources is expected to propel the growth of the NDT services market going forward. Renewable energy refers to the energy that comes from natural sources that regenerate themselves more quickly than they are used up. Non-destructive testing is used in the production of renewable energy sources, such as the testing of wind turbines using ultrasonic waves.
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Who Are The Key Players Shaping The NDT Services Market Trends?
Key players in the market includeMistras Group Inc., Olympus Corporation, Nikon Metrology NV, TÜV Rheinland Group, Intertek Group plc, TEAM Inc., General Electric Company, Ashtead Technology Ltd., Zetec Inc., Yxlon international GMBH, ALS Limited, Applus+, Bureau Veritas SA, Dekra SE, Fischer Technologies Inc., Previan Technologies, SGS SA, Det Norske Veritas, Registro Italiano Navale, NDT Global Limited, NDT Kit Inc., NDT Systems Inc., Sonatest plc, Eddyfi Technologies Inc., HMT Inspection Inc., NDT Solutions Inc., Carl Zeiss Industrial Metrology GmbH, American Bureau of Shipping, Lloyd's Register, NDT Services Limited.
What Are The Dominant Trends In NDT Services Market Growth?
Major companies operating in NDT service are focused on introducing innovative products such as Eddyview II portable eddy current flaw detector to sustain their position in the market. Eddyview II portable eddy current flaw detector incorporates features and functionality to allow both standard eddy current testing and Eddy Current Array (ECA) capabilities.
How Is The Global NDT Services Market Segmented?
1) By Type: Inspection Services, Equipment Rental Services, Training Services, Calibration Services2) By Testing Technique Model: Visual Inspection, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging3) By Vertical Type: Manufacturing, Oil and Gas, Aerospace, Government Infrastructure and Public Safety, Automotive, Power Generation, Other Verticals
Geographical Insights: North America Leading The NDT Services MarketNorth America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
NDT Services Market Definition
NDT refers to a variety of inspection techniques that permit inspectors to assess and gather information about a material, system, or component without causing any long-term changes to it. These are used to examine the characteristics of a material, component, structure, or system without affecting the original part in order to look for typical variations or welding faults and discontinuities.
NDT Services Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future•Macroeconomic factors affecting the market in the short and long run•Analysis of the macro and micro economic factors that have affected the market in the past five years• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global ndt services market report covering trends, opportunities, strategies, and more
The NDT Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ndt services market size, ndt services market drivers and trends, ndt services market major players and ndt services market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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October 04, 2024, 19:49 GMT
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