According to the report titled ‘Global Non-destructive Testing Market Size study, by Offering (Services and Equipment), by Method (Visual Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy Current Testing, Ultrasonic Testing and Radiographic Testing), by Vertical (Oil & Gas, Manufacturing, Aerospace and Defense, Construction, Automotive, Power Generation and Others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global non-destructive testing market was valued at USD 573.57 million in 2020 and is expected to grow at 4.4% CAGR over the next six years, thus reaching a valuation of USD 2072.93 million by the year 2027.
 

Enhanced demand for flaw detection because of increasing automation in industrial manufacturing, legislative requirements for equipment safety and regular inspections, and new product launches are fueling the growth of global non-destructive testing market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4285245/
 

For the unversed, non-destructive testing is a method of evaluating the properties of a material, component, system, or structure for welding defects, discontinuities, and characteristic differences without causing damage to the original part.
 

Rising research investment by major players and increasing awareness about non-destructive testing methods among manufacturers are estimated to accelerate the development of the industry in the coming years.
 

On the contrary, dearth of skilled professionals, along with high cost of equipment are restraining the industry growth.
 

Based on offering, worldwide non-destructive testing market is divided into services, and equipment. In terms of method, the industry is categorized into ultrasonic testing, magnetic particle testing, eddy current testing, visual testing, liquid penetrant testing, and radiographic testing. Concerning verticals, the market is bifurcated into power generation, construction, oil & gas, automotive, manufacturing, aerospace & defense, and others.
 

From the regional standpoint, the market spans across Asia Pacific (India, China, Australia, Japan, South Korea), North America (U.S., Canada), Europe (U.K., German, Spain, Italy, France), and Latin America (Brazil, Mexico).
 

The report cites that North America held a considerable market share in the recent past, attributable to the presence of skilled labor and cognizance of non-destructive testing methods. Meanwhile, Asia Pacific market is anticipated to grow at a significant rate during the forecast period, owing to surge in industrial production, rising construction, and more power generation.
 

The competitive landscape of global non-destructive testing market is defined by top tier players such as Zetec Inc., Fischer Technologies Inc., Olympus Corporation, Ashtead Technology Ltd., Nikon Metrology Inc., Mistras Group Inc., General Electric Company, YXLON International GmbH, Eddyfi Technologies, and Sonatest Ltd. among others.