NDT in Oil & Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global NDT in Oil and Gas Market is segmented by Type (Equipment, Services), Type (Upstream, Midstream, Downstream), Technique (Ultrasonic, Radiography, Visual Inspection, Liquid Penetrant), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value (in USD million) for all the above segments.

Non-Destructive Testing in Oil and Gas Market Size

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Non-Destructive Testing Market in Oil and Gas Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR 6.52 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Non-Destructive Testing Market in Oil and Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Non-Destructive Testing in Oil and Gas Market Analysis

The non-destructive testing (NDT) market in oil and gas is expected to register a CAGR of 6.52% during the forecast period.

  • According to the British Institute of Non-Destructive Testing, more than 25,000 inspections are done every day in factories and on-site in the UK to find flaws and damage in a wide range of products, plants, and structures. It is thought that more than 120,000 inspectors are working around the world.
  • The NDT market is driven by the increasing complexity of machines, the need for accurate product usage specifications, the strict enforcement of government rules to keep workers safe, and the need for tighter quality control.
  • As a result of refinery leaks, pipeline explosions, and refinery explosions in the past, governments around the world have tightened safety rules for NDT, which has helped the market grow.
  • Significant growth is expected in ultrasonic testing. This is where the broadcast of low-frequency waves (20 kHz to 100 kHz) can detect and identify changes in material properties, often indicating that the mechanical integrity of the part is compromised. This is frequently used to detect corrosion in underwater or buried pipelines.
  • The COVID-19 pandemic outbreak turned out to be unfavorable and unforeseen for almost all industries globally, including automotive, construction, airlines, and manufacturing. As a precaution, many governments around the world put lockdowns in place to stop the spread of the new coronavirus and its bad effects.
  • The disrupted global supply chain and decreased industrial productivity strained the global economy. The companies' production and manufacturing capabilities were also disrupted due to the sudden outbreak of the virus.

Non-Destructive Testing in Oil and Gas Market Trends

This section covers the major market trends shaping the Oil & Gas Non-Destructive Testing Market according to our research experts:

The Rising Usage of Drones in the Market

  • Over the last few years, camera-equipped drones have become another commonly used tool in NDTs for collecting visual data. Due to technical limitations, drones could only provide inspectors with supplementary visual data for a short time. Still, they were not a substitute for inspectors who physically collect the visual data themselves. However, as drone technology has improved, inspectors can now use the drone as an RVI tool, eliminating the need to collect visual data manually in some cases.
  • Drones improve workplace safety by eliminating the need for inspectors to enter dangerous areas to collect visual data. For outdoor inspections of assets like refineries, pipelines, and oil reserves, drones can collect visual data to reduce the amount of time a person needs to be on a tower or line.
  • For indoor inspection of assets such as pressure vessels and boilers, using a drone like the Elios 2 from FlyAbility to collect visual data eliminates the need for inspectors to enter confined spaces and significantly reduces the risk.
  • To date, the primary use of drones in NDT has been collecting visual data. However, thermal sensors mounted on drones have allowed inspectors to collect thermal data on a drone-by-drone basis over the past few years. Over time, new sensors developed for drones may emerge to support more NDT technologies.
Non-Destructive Testing Market in Oil and Gas Market : Comparison of Sense Fly eBee Drone Maximum Flight Time, by Model, In Minutes,Global,2022

North America to Remain the Largest Market

  • With the rise of oil and gas projects in countries such as the United States, Canada, and Mexico, the region can grow strongly over the next few years. The United States is one of the largest producers of natural gas and crude oil.
  • The United States has one of the world's largest technically recoverable shale gas reserves and the second-largest tight oil reserves. New developments in hydraulic fracturing and break-even technology support upstream oil and gas in the onshore region. This means that NDT companies are in high demand.
  • Canada is one of the world's largest producers of gas and oil. The oil and gas industry is vital to the country's economy. Oil sands remain a significant source of hydrocarbon production, accounting for more than 90% of total oil reserves. According to the Canadian Oil Producers Association (CAPP), the country's oil production is projected to reach 5.4 billion barrels per day in 2030, with oil sands accounting for 70.7% of the total output.
  • The factors mentioned earlier contribute to the increasing demand for Non-Destructive Testing in the oil & gas market in the region during the forecast period.
Non-Destructive Testing Market in Oil and Gas Market - Growth Rate by Region

Non-Destructive Testing in Oil and Gas Industry Overview

The NDT market is competitive. The increasing regulations, which make it mandatory for different organizations to undergo a life assessment procedure as a safety measure, coupled with the regular inspection required to check for any damage in the equipment and take necessary action, create a market for NDT. Thus, companies are entering this market, seeing a huge opportunity. Some key players are Magnaflux Corp., Zetec Inc., YXLON International Gmbh (COMET Group), Fujifilm Corporation, Olympus Corporation, and Bureau Veritas SA, among others. Some recent developments are:

In September 2022, Waygate Technologies teams up with RINA. This collaboration combines digital expertise and data intelligence in non-destructive inspection to create exceptional customer benefits and added value. The joint solution will help detect potential defects during and after welding, optimize production processes, reduce the risk of rework and scrap, and eventually improve the quality of welded joints.

In May 2022, TWI signed an MoU with Tech Eurolab Ltd. for delivering funded projects and non-destructive testing programs across a range of industries and technologies for attaining the highest standards of quality and safety for products and processes.

Non-Destructive Testing in Oil and Gas Market Leaders

  1. YXLON International

  2. Fujifilm Corporation

  3. Olympus Corporation

  4. Bureau Veritas SA

  5. Magnaflux Corp

*Disclaimer: Major Players sorted in no particular order

Non-Destructive Testing Market in Oil and Gas Market Concentration
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Non-Destructive Testing in Oil and Gas Market News

  • September 2022 : Waygate Technologies introduced the Ruby|plate 240 calibration phantom for industrial computed tomography (CT). Features high-resolution insights and captures extremely accurate and effective calibration bodies to determine the exact voxel size and allows operators to detect any deviation quickly and non-destructively in geometry.
  • October 2022 : Videray Technologies Inc. Launched PX Ultra, the industry's first 160 keV Handheld Backscatter X-ray Imager that can identify anomalies through up to 10mm of steel. It will be globally adopted by the safety and security markets and various industrial and commercial markets for non-destructive testing (NDT) applications.

Non-Destructive Testing in Oil and Gas Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Stakehholder Analysis

    3. 4.3 Market Drivers

      1. 4.3.1 Rising need to run refinery assets at full cap

      2. 4.3.2 Upstream sector expected to gain momentum in key markets

    4. 4.4 Market Challenges

      1. 4.4.1 Production cuts and lack of skilled workforce

    5. 4.5 Assessment of the Impact of COVID-19 on the Market

    6. 4.6 Comparative Analysis of NDT Equipment VS Service Industry

    7. 4.7 Market Opportunities

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Equipment

      2. 5.1.2 Services

    2. 5.2 By Type

      1. 5.2.1 Upstream

      2. 5.2.2 Midstream

      3. 5.2.3 Downstream

    3. 5.3 By Technique

      1. 5.3.1 Ultrasonic

      2. 5.3.2 Radiography

      3. 5.3.3 Visual Inspection

      4. 5.3.4 Liquid Penetrant

      5. 5.3.5 Others (Magnetic Particle & Eddy Current)

    4. 5.4 By Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles*

      1. 6.1.1 Magnaflux Corp

      2. 6.1.2 YXLON International Gmbh (COMET Group)

      3. 6.1.3 Fujifilm Corporation

      4. 6.1.4 Olympus Corporation

      5. 6.1.5 Bureau Veritas SA

      6. 6.1.6 GE Measurement and Control (Baker Hughes)

      7. 6.1.7 Karl Storz Ndtec Gmbh

      8. 6.1.8 Intertek Group PLC

      9. 6.1.9 Applus Services SA

      10. 6.1.10 Magnetic Analysis Corporation

      11. 6.1.11 Zetec Inc

  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

**Subject to Availability
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Non-Destructive Testing in Oil and Gas Industry Segmentation

Non-Destructive Testing (NDT) is the process of inspecting, testing, or evaluating materials, components, or assemblies for discontinuities or differences in characteristics without destroying the serviceability of the part or system. Aerospace, defense, oil and gas, power generation, and automotive are leading sectors that use NDT techniques to ensure the quality of products. These sectors use the NDT test to determine the physical properties of materials such as impact resistance, ductility, yield, ultimate tensile strength, fracture toughness, and fatigue strength. Visual testing is the most widely used nondestructive testing (NDT) method. The market is segmented by Type (Equipment, Services), Type (Upstream, Midstream, Downstream), Technique (Ultrasonic, Radiography, Visual Inspection, Liquid Penetrant), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

The market sizes and forecasts are provided in terms of value (in USD million) for all the above segments.

By Type
Equipment
Services
By Type
Upstream
Midstream
Downstream
By Technique
Ultrasonic
Radiography
Visual Inspection
Liquid Penetrant
Others (Magnetic Particle & Eddy Current)
By Geography
North America
Europe
Asia-Pacific
Rest of the World
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Non-Destructive Testing in Oil and Gas Market Research FAQs

The Non-Destructive Testing Market in Oil and Gas Market is projected to register a CAGR of 6.52% during the forecast period (2024-2029)

YXLON International, Fujifilm Corporation, Olympus Corporation, Bureau Veritas SA and Magnaflux Corp are the major companies operating in the Non-Destructive Testing Market in Oil and Gas Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Non-Destructive Testing Market in Oil and Gas Market.

The report covers the Non-Destructive Testing Market in Oil and Gas Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Non-Destructive Testing Market in Oil and Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

NDT in Oil and Gas Industry Report

Statistics for the 2024 NDT in Oil and Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. NDT in Oil and Gas analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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NDT in Oil & Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)