The global non destructive testing and inspection market will reach a valuation of US$ 11.7 billion in 2024, driven by integration of augmented reality and virtual reality. The trend is set to create new opportunities for the market, leading to a projected CAGR of 10.2% between 2024 and 2034, and reaching a total valuation of approximately US$ 31.0 billion by 2034.
The testing plays a crucial role in ensuring the reliability and performance of renewable energy systems, driving demand for inspection services in this sector. The increasing use of advanced materials such as composites, ceramics, and alloys in various industries poses challenges for traditional inspection methods. The techniques are evolving to accommodate the unique properties of these materials, creating opportunities for innovation in inspection technology.
Get Exclusive Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-19368
Industries are increasingly adopting predictive and condition based maintenance strategies to optimize asset performance and minimize downtime. The testing methods provide valuable data for predictive maintenance algorithms, allowing companies to anticipate equipment failures and schedule maintenance proactively.
Key Takeaways
- Global non destructive testing and inspection market was valued at US$ 10.6 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 12.0%.
- The market in Japan to expand at a CAGR of 12.2% through 2034.
- By method, the surface inspection segment to account for a CAGR of 10.0% through 2034.
- The market in Korea will expand at a CAGR of 13.0% through 2034.
- In terms of service, the training services segment to account for a CAGR of 9.8% through 2034.
Competitive Landscape
Prominent players in the non destructive testing and inspection market are Circle Systems, Inc, SREM Technologies (Fluxo), Gould-Bass Company, Inc, Johnson and Allen Ltd, KARL DEUTSCH, Magwerks Corporation, McGean, and MR Chemie GmbH, among others.
Company Portfolio
- Gould-Bass Company Inc. is a trusted supplier of non destructive testing equipment and solutions. Their offerings encompass a wide range of inspection technologies, including ultrasonic testing, radiographic testing, magnetic particle inspection, and dye penetrant testing. The company also provides training, consulting, and calibration services to support non destructive testing professionals.
- Johnson and Allen Ltd. is a leading manufacturer and distributor of non destructive testing equipment and accessories. Their product portfolio includes ultrasonic flaw detectors, magnetic particle inspection systems, dye penetrant testing kits, and radiographic testing instruments. The company also offers bespoke NDT solutions and training services.
Buy this Exclusive Report: https://www.futuremarketinsights.com/checkout/19368
