Nondestructive Testing Equipment Market Expected to Reach $8.1 Billion by 2030

The NDT market forecast holds high potential in infrastructure and automotive & transportation industry vertical. Presently, rapid development in smart infrastructure and  vehicle technology have resulted in desire to adopt this technology, particularly in the developing countries such as China, India, Brazil, Mexico, and UAE. Companies in the nondestructive testing equipment industry adopt various innovative techniques to provide customers with advanced and innovative features which is lucrative for the nondestructive testing equipment market size.

Non destructive testing machine features enhanced functionality & accuracy and quick & cost-effective monitoring and reporting procedure. It is used to address a variety of difficulties in the process with goal of increasing quality and productivity which increases the nondestructive testing equipment market share globally.

Leak detections are increasingly used in oil & petroleum industry, chemical industry, and air conditioning & refrigeration industry. Usage of leak detectors prevent potential accidents and risk analysis for future concerns. This technology promotes safe orientation among users in various situations. Governments all across the globe are setting up regulations to promote adoption of leak detectors among various industry verticals. For instance, the U.S. federal government regulates pipelines through the Code of Federal Regulations (CFR) 49, which insist adoption of leak detectors. In addition, the air conditioning and refrigeration industry uses leak detectors to measure and prohibit carbon dioxide to reduce global warming potential, which is assisting the nondestructive testing equipment market growth.

COVID-19 Impact Analysis:

COVID-19 has caused overall semiconductor industry to mobilize quickly and to make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across value chain with numerous raw materials, assembly, test, package, and equipment suppliers and partners, globally.

The demand from wireless communication segment is expected to increase due to factors such as increased broadband usage, higher demand for cloud services, and video streaming. In addition, in  medium to long term, COVID-19 is expected to further push up the need for digital transformation, technologies such as 5G, internet of things, artificial intelligence, and intelligent edge computing for future optimization.

The end users of NDT inspection equipment represent mixed trends during the COVID-19 pandemic. Industry vertical such as transportation and construction show minimal demand for its services. However, demand for NDT equipment from defense sector, power plants, and oil & refineries remain unaffected. Furthermore, quality check and maintenance of products, components, or structures is of important for every industry. As a result, budget remains unaffected even in the pandemic.

According to nondestructive testing equipment market trends, aging infrastructure, including roads, buildings, and aircraft, provide a new measurement and monitoring challenges for NDT equipment engineers and technicians. The trend in nondestructive testing machine increases emphasis on use of NDT to improve productivity of manufacturing processes. Quantitative non-destructive testing (QNDT) increases amount of information about failure modes and speed with which information can be obtained and facilitates development of in-line measurements for process control.

New equipment in nondestructive testing equipment market analysis is being developed to reduce involvement of operator as much as possible through automating functions and computerizing results. Continuous technical developments result in novel and improved techniques for carrying out NDT. Presently, product development allow NDT to be carried out in cheaper and effective way.