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Ultrasonic Non-Destructive Testing (NDT) Market Size

  • Report ID: GMI9018
  • Published Date: Apr 2024
  • Report Format: PDF

Ultrasonic Non-Destructive Testing Market Size

Ultrasonic Non-Destructive Testing Market size was valued at USD 3.8 billion in 2023 and is estimated to register a CAGR of over 13% between 2024 and 2032. The increasing adoption of continuous monitoring techniques to prevent sudden failure across various industries is driving growth in the market. Ultrasonic NDT is very effective in detecting developing fractures, voids, and other flaws in materials. Industries may detect these faults early, before they become serious problems, by regularly monitoring crucial components using ultrasonic technology.

 

Early detection allows for scheduled repairs or replacements during planned downtime, reducing disturbance and expenses when compared to unexpected equipment failure. Furthermore, detecting problems early decreases the danger of catastrophic failures, which might result in accidents or casualties. Continuous monitoring with ultrasonic NDT helps to prevent unexpected equipment failures, resulting in less downtime for repairs and replacements. This results in enhanced production efficiency and cost savings.
 

Governments often mandate the use of NDT for specific applications in critical industries. This includes nuclear power plants where strict regulations ensure regular NDT inspections of reactor components to identify potential cracks or weaknesses that could lead to catastrophic accidents. Similarly, in oil & gas pipelines, regulations often stipulate NDT inspections during pipeline construction and at regular intervals throughout their lifespan to ensure pipeline integrity and prevent leaks or explosions. The regulatory environment creates a robust demand for NDT services in these industries, driving market growth for ultrasonic NDT equipment and qualified personnel.
 

The high initial investment in ultrasonic non-destructive testing (NDT) is a major challenge for the market, potentially slowing down its growth. Ultrasonic NDT equipment, particularly sophisticated procedures such as Phased Array Ultrasonic Testing (PAUT), may be rather costly. These systems can cost from tens of thousands to hundreds of thousands of dollars.
 

Smaller enterprises may lack the funds to invest in advanced NDT equipment, restricting their capacity to use ultrasonic NDT and possibly compromising their competitiveness in some industries. Along with this, qualified staff is essential to efficiently operate ultrasonic NDT equipment. The training and certification procedure for NDT technicians is costly and time consuming, increasing the total financial burden for firms striving to employ ultrasonic NDT.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of ultrasonic non-destructive testing (NDT) recorded USD 3.8 billion in 2023 and is set to depict over 13% CAGR from 2024 to 2032, due to the increasing adoption of continuous monitoring techniques to prevent sudden failure across various industries.

The volumetric inspection method segment is estimated to exceed USD 5 billion by 2032, on account of its essential role in ensuring the safety and dependability of equipment and infrastructures.

Europe market accounted for 34% revenue share in 2023, owing to the strong manufacturing base, high quality requirements, and growing emphasis on industrial safety and asset integrity.

Applus+, Bureau Veritas, Eddyfi NDT Inc., Intertek Group PLC, Mistras Group, Olympus Corporation, SGS, TEAM Industrial Services, TUV Nord, and TUV Rheinland are some of the major ultrasonic NDT companies worldwide.

Ultrasonic Non-Destructive Testing Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 300
  • Countries covered: 25
  • Pages: 240
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