NDT in Power Generation Market Size

Non-Destructive Testing In Power Generation Market Analysis

The Non-Destructive Testing in Power Generation Market is expected to witness growth at a CAGR of 6.31% over the forecast period (2022- 2027). In response to the crisis caused by the pandemic, a dedicated addendum to various programs was introduced, which cover compliance with the WHO COVID-19 guidelines and those of other recognized bodies, allowing businesses to resume their operations confidently. With the implementation of such guidelines, the demand for the market studied is anticipated to increase. For instance, associations such as BINDT are extending the validity of PCN certificates. Also, in April 2020, NDT.net launched a virtual showroom to support the NDT companies in the market in keeping the global conversation alive during these difficult times.

• The power generation industry has undergone various changes, including enhanced overall efficiency and quality of the materials used. Exposure to operating and environmental conditions can cause damages to unforeseen. NDT serves that purpose to check any such flaws and help solve the problem before it elevates.
• The main scope of NDT applications in the power industry is to help ensure plant equipment's safety, integrity, and reliability, such as pressure vessels, boilers, heat exchangers, pipework, and pipelines. The inspection of concrete structures is a part of plant life assessment, as these materials often form an essential part of constructing such plant equipment.
• North America has been the flag bearer for the NDT equipment market in the power generation sector and still has opportunities for advanced NDT applications. Recently, Asia-Pacific has experienced an enormous boom in power demand, mainly from China, India, Japan, and South Korea. This shift has created significant market opportunities for companies providing equipment and services in the NDT market for electricity generation. Due to emerging eco-friendly natural gas power plants, the demand for NDT equipment is expected to be higher in the APAC region.
• Further, the increasing utilization and adaptability of digital imaging technology are also expected to increase the cost-effectiveness of the NDT equipment methods in the power generation industry. Continuous data collection, storage, online inspection, advanced simulation of data in real-time, and interpretation of the information are also possible with new NDT equipment techniques. These techniques are creating greater opportunities in the market.
• Moreover, various regulations make it mandatory for power plants to undergo a life assessment procedure as a safety measure. Apart from this, inspection is also required to check for any damages to the equipment and take necessary countermeasures to control them. This situation is expected to create increased opportunities in the nuclear power sector. 
• Several governmental agencies and regional bodies, like the American Society of Mechanical Engineers (ASME) and the International Organization for Standardization (ISO), have been instructed to formulate stringent measures for assuring the safety of instruments, while overseeing the process of engineering services testing. This is crucial for gaining clearances and certificates from the concerned authorities thereby creating a positive impact on the NDT market.