The Global Non-Destructive Testing Market for the infrastructure industry is estimated to account for US$ 6,300 Mn in terms of value by the end of 2021. Non-destructive testing services have become an increasingly important part of manufacturing processes. Demand is expected to rise faster than supply. Consequently, many market players are focusing on expanding globally and developing a highly qualified workforce. Increasing government regulations and high complexity of inspection processes will increase the need for skilled testers.
Global Non-Destructive Testing Market for the Infrastructure Industry: Drivers
Growing number of oil and gas projects in regions such as North America and Middle East are expected propel growth of the global non-destructive testing market for the infrastructure industry over the forecast period. With increasing oil and gas projects, the deployment of NDT methods is also growing for completing projects with finesse and timelines. This further increases the demand for NDT equipment in North America and Middle East region. Moreover, technological development of NDT is leading to growing development of equipment of radiographic testing such as industrial CT scanners to detect faults precisely in the components and machinery. Thus, this factor is expected to augment the market growth.
Global Non-Destructive Testing Market for the Infrastructure Industry: Opportunities
Increasing growth of railway sector all over the world is expected to create growth opportunities for market players in the global non-destructive testing market for the infrastructure industry over the forecast period. In the system of railway transport management, the sound and regular diagnostics along with the timely detection of defects in railways at early phases are the major elements. Eddy-current testing and ultrasonic testing NDT methods are gaining popularity in railway infrastructure to detect rail defects such as head checks, transverse cracks and other defects. Thus, with growing railway sector the market is expected to witness strong growth in the future.
Global Non-Destructive Testing Market for the Infrastructure Industry: Restraints
Factors such as dearth of trained technicians are major factors restraining growth of the global non-destructive testing market for the infrastructure industry over the forecast period. Technicians needed for the inspection process require certification and important skills for performing inspection with satisfactory quality levels. Moreover, most of the training institute do not possess new systems, and technicians are trained on old products that are obsolete. Thus, lack of skilled professionals is likely to hinder the market growth.
Global Non-Destructive Testing Market - Impact of Coronavirus (Covid-19) Pandemic:
The outbreak of coronavirus negatively impacted growth of the global non-destructive testing market for the infrastructure industry. The pandemic affected several industries around the world. Many of the construction projects were closed down temporarily under the lockdown regulations. Thus, several assembly workers returned to their home due to suspended work. This largely affected projects on bigger scale. Hence, demand for NDT for infrastructure industry declined around the world, which adversely impacted growth of the market. However, as the pandemic situation is going back to normal in several regions, the market is likely to retain growth in the near future.
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Key Takeaways:
- The global Non-Destructive testing market was valued at US$ 6,300 Mn in 2021 and is forecast to reach a value of US$ 15,764 Mn by 2030 at a CAGR of 12.0% between 2022 and 2030. This is owing to growing infrastructure maintenance services
- The Construction Industry segment was valued US$ 135,709 Mn in 2021 and is expected to witness a CAGR of 4.6% over the forecast period. This is owing to growing construction industry globally
Global Non-Destructive Testing Market for the Infrastructure Industry Trends:
Growing construction sector in Europe is one of the major trends in the global non-destructive testing market for the infrastructure industry, which anticipated to fuel the market growth over the forecast period. Construction industry is one the biggest segment of the economy of Europe. It substantially affects NDT adoption in the construction segment across the region. For instance, as per the Office for National Statistics (UK), Great Britain witnessed an increase in the construction output index of infrastructure. It grew to 123.9 in 2019 from 84.8 in 2013. This trend is projected to continue in the market and fuel the market growth.
Furthermore, major players in the global non-destructive testing market for the infrastructure industry are focusing on growth strategies such as partnership and acquisitions, which is expected to fuel the market growth. For instance, in August 2020, SGS acquired Groupe Moreau, having headquarter in Indre-et-Loire, France. With this acquisition, SGS gained, A.S.M. Contrôle Technique, Contrôle Technique RIALTO - C.T.R. and B.C.L. Contrôle Technique. The acquisition is likely to consolidate market leading position of SGS in vehicle inspection services in France.
Global Non-Destructive Testing Market for the Infrastructure Industry: Competitive Landscape
Tech4Imaging LLC, SGS SA, ROSEN Group, Acuren Group Inc., Olympus Corporation, Mistras Group Inc., Intertek Group PLC, Applus Services SA, Infrastructure Preservation Corporation, Bureau Veritas SA, and FLIR Systems Inc.
Global Non-Destructive Testing Market for the Infrastructure Industry: Recent Developments
In January 2020, Infrastructure Preservation Corporation entered into partnership agreement with Bureau Veritas, which is a leading company in testing, inspection and certification (TIC) services. With the partnership Bureau Veritas is likely to provide new solutions of robotics as well as technology inspection in Canada and the U.S.
In July 2020, Rosen Group launched the new TBIT Ultra service, intended for inspection of above ground storage tanks. This new service includes a state-of-the-art technology that can find, quantify and report defects from 10% wall loss, which also includes defects of pitting corrosion.
