Global NDT Services Market Poised to Reach $12.6 Billion by 2026

Global Industry Analysts, Inc. (GIA), August 30, 2021

According to a recent report from Global Industry Analysts, Inc., the global nondestructive testing (NDT) services market is projected to reach US$12.6 Billion by 2026, growing at a CAGR of 6.6% during the forecast period. NDT services include inspection services, equipment rental services, training services, and calibration services.

Stringent product usage specifications that industries have to adhere to, strong government safety regulations mandating safety of personnel and workplace where a range of physical assets are used, and tight quality control requirements that govern industries especially are expected to drive long term demand for NDT services. Furthermore, growing complexity of processes and products that require continuous inspection and testing has a bearing on market growth. At the same time, issues and challenges associated with in-house NDT departments also favor the market. High up-front costs of equipment, shortage of trained personnel, lack of full-scale training facilities for advanced equipment, and operator safety concerns are some of the issues that encourage enterprises to prefer third party NDT services.

The report analyzes all major global markets, including China - where the NDT services market is forecasted to reach an estimated market size of US$1.6 Billion in the year 2026, trailing a CAGR of 9.8% through the analysis period. The NDT services market in the U.S. is currently estimated at US$3.3 Billion in the year 2021, roughly a 37% share of the global market. 

NDT techniques covered in the report include:

Click here to read the full article from Global Industry Analysts, Inc. (GIA).

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