Non-Destructive Testing Market in Oil and Gas Market Size

Statistics for the 2023 & 2024 Non-Destructive Testing Market in Oil and Gas market size, created by Mordor Intelligence™ Industry Reports. Non-Destructive Testing Market in Oil and Gas size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Non-Destructive Testing Industry in Oil and Gas Market

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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.

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