USA NDT Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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USA NDT Equipment Market Analysis
The United States NDT equipment market will register a CAGR of 8.12% over the forecast period. Non-destructive testing is mostly used to assess whether a component is compromised or if a replacement is necessary. The tests are made to ensure that both the testers and the tested products are safe.
- The aspect that has substantially contributed to the growth of the NDT equipment market throughout the region is the optimization of maintenance activities by various industries to maintain machine safety and effective performance.
- Moreover, The automotive, infrastructure, aerospace, power generation, petrochemical, and mechanical sectors are some of the end-user industries that demand non-destructive inspection (NDI) at each stage. Technological advancements in the telecommunications and medical industries are primarily driving the expansion of this market.
- Modern NDT techniques with enhanced fault identification and safety have been developed as a result of technological advancements. Furthermore, it is anticipated that improved adoption of NDT techniques in the upcoming years will result in manufacturers becoming more aware of the usage of NDT.
- However, the high cost of equipment and lack of skilled technicians who can conduct the test with the proper reference standards and thorough interpretation of the results, as well as an increase in pipeline sabotage threats, would hamper the market growth.
- The market for non-destructive testing equipment has experienced a slowdown in growth since the introduction of COVID-19, and this trend is anticipated to continue. The main cause of this slowdown is the widespread use of partial or total lockdowns in numerous nations worldwide.
USA NDT Equipment Market Trends
This section covers the major market trends shaping the USA NDT Equipment Market according to our research experts:
Ultrasonic Testing to Witness the Growth
- Ultrasonic testing is one of the NDT techniques that are most frequently utilized. With the help of probe-generated high-frequency sound waves, ultrasonic testing equipment scans the material. These probes track the return of sound waves from a substance, and instrumentation displays the findings for examination.
- An efficient nondestructive testing technique for checking the quality of concrete materials and spotting damage to structural elements is ultrasonic pulse velocity (UPV). Equipment sales have increased due to the expansion of the US construction industry in recent years. It was anticipated that there would be a focus on constructing new infrastructure and fixing current capital assets that create safety issues after the presidential election. Public-private partnerships (PPPs) are additionally anticipated to rise for significant infrastructure projects.
- Over the next few years, pipeline construction projects like the Pecos Trail Pipeline Project, Penn East Pipeline Project, and Atlantic Coast Pipeline are among those that will be finished. Over the following several years, it is anticipated that these projects will significantly increase demand in the nation for ultrasonic nondestructive testing equipment.
- Additionally, the effectiveness of defect identification and ease of operation of ultrasonic equipment, compared to other NDT equipment, are the primary factors driving the expanding use of the ultrasonic test method throughout the region.
- According to the US Census Bureau, with USD 79.9 billion reported in 2020, the value of new commercial buildings has returned to pre-recession levels. Construction starts in the United States are projected to be worth USD 135 billion in the last year. In 2019, private offices were the nation's most widely used commercial development. In the upcoming years, private offices, warehouses, and shopping/retail centers are anticipated to be preferred. The US ultrasonic NDT testing gear market may rise due to the expanding growth of the construction industry.
Power and Energy is to Witness the Growth
- Since most of these established plants are older and were built using materials, standards, and components that complied with industry norms at the time of construction, they exhibited an increased demand for non-destructive testing equipment.
- Assuring the safety, integrity, and dependability of plant equipment, such as pressure vessels, boilers, heat exchangers, pipework, and pipelines, is the primary goal of NDT applications in the power sector. As these materials frequently play a crucial role in constructing such plant equipment, inspecting concrete structures is a component of plant life evaluation.
- Unlike nuclear power plants, where NDT techniques are used to inspect rods, miniature valves, waste containers, and waste management infrastructure, the power industries use NDT techniques to check pressure systems, steam turbines, and gas turbines, which presents opportunities for market growth throughout the region.
- Additionally, it is anticipated that increased use and adaptability of digital imaging technology will improve the cost-effectiveness of NDT equipment approaches in the power generation sector. With innovative NDT equipment approaches, continuous data gathering, storage, online inspection, enhanced real-time data modeling, and information interpretation are also possible. More opportunities are being created in the industry thanks to these strategies.
USA NDT Equipment Industry Overview
The US NDT equipment market is moderately consolidated, with many businesses with a very small market share. The main elements fostering the market's fragmented nature are the growth of regional markets and the rising participation of local companies in foreign direct investments.
- August 2022 - Baker Hughes announced it has agreed to acquire the Power Generation division of BRUSH Group from One Equity Partners. BRUSH is an established equipment manufacturer specializing in electric power generation and management for the industrial and energy sectors. This acquisition supports Baker Hughes' strategic commitment to lead in providing decarbonization solutions for the natural gas industry, and historically hard-to-abate sectors with the company also plan to optimize its supply chain by leveraging BRUSH Power Generation's manufacturing base and expanding its scope on customer projects in both the industrial and energy sectors.
USA NDT Equipment Market Leaders
Baker Hughes
NDT Global LLC
Applied Technical Services
Triumph Group
Mistras Group Inc.
*Disclaimer: Major Players sorted in no particular order
USA NDT Equipment Market News
- September 2022 - Applied Technical Services announced a collaboration with C&W Meter Service, LLC, where the company will together continue to work alongside their pipeline, refinery, marketing terminal, airport refueling, and power/utility clients with no interruption to service C&W Meter Service's access to resources through this new partnership would expand its capabilities and service area.
- March 2022 - Baker Hughes announced a collaboration on industrial asset management (IAM) solutions with C3 AI, Accenture, and Microsoft for customers in the industrial and energy industries. The partnership will be concentrated on developing and implementing Baker Hughes IAM solutions that use digital technology to enhance the safety, effectiveness, and emissions profile of industrial machinery, field equipment, and other physical assets.
USA NDT Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness: Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Competitive Rivalry
4.3.5 Threat of Substitute Products
4.4 Assessment of the Impact of COVID-19 on the Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Stringent Regulations Mandating Safety
5.1.2 Aging Infrastructure and Increasing Need for Maintenance
5.2 Market Restraints
5.2.1 Lack of Skilled Personnel and Training Facilities
6. MARKET SEGMENTATION
6.1 By Technology
6.1.1 Radiography Testing Equipment
6.1.2 Ultrasonic Testing Equipment
6.1.3 Magnetic Particle Testing Equipment
6.1.4 Liquid Penetrant Testing Equipment
6.1.5 Visual Inspection Equipment
6.1.6 Eddy Current Equipment
6.1.7 Other Technologies
6.2 By End-user Industry
6.2.1 Oil and Gas
6.2.2 Power and Energy
6.2.3 Aerospace and Defence
6.2.4 Automotive and Transportation
6.2.5 Construction
6.2.6 Other End-user Industries
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Baker Hughes
7.1.2 Triumph Group
7.1.3 Mistras Group Inc.
7.1.4 NDT Global LLC
7.1.5 Applied Technical Services
7.1.6 TEAM Inc.
7.1.7 NVI Nondestructive & Visual Inspection
7.1.8 Innerspec Technologies Inc.
7.1.9 TesTex Inc.
7.1.10 National Inspection Services LLC
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
USA NDT Equipment Industry Segmentation
Nondestructive testing (NDT) instruments can scan, inspect, and quantify flaws, corrosions, and other material conditions without permanently damaging or altering the examined product or part. NDT equipment encompasses a broad set of equipment, such as flaw detectors, thickness gages, material condition testers, visual inspection devices, acoustic emission testers, and eddy current instruments, along with devices that measure resistivity, conductivity, and corrosion.
The United States NDT equipment market is segmented by technology (radiography testing equipment, ultrasonic testing equipment, magnetic particle testing equipment, liquid penetrant testing equipment, visual inspection equipment, and eddy current equipment) and end-user industry (oil and gas, power and energy, aerospace and defense, automotive and transportation, and construction). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| By Technology | |
| Radiography Testing Equipment | |
| Ultrasonic Testing Equipment | |
| Magnetic Particle Testing Equipment | |
| Liquid Penetrant Testing Equipment | |
| Visual Inspection Equipment | |
| Eddy Current Equipment | |
| Other Technologies |
| By End-user Industry | |
| Oil and Gas | |
| Power and Energy | |
| Aerospace and Defence | |
| Automotive and Transportation | |
| Construction | |
| Other End-user Industries |
USA NDT Equipment Market Research FAQs
What is the current US NDT Equipment Market size?
The US NDT Equipment Market is projected to register a CAGR of 8.12% during the forecast period (2024-2029)
Who are the key players in US NDT Equipment Market?
Baker Hughes, NDT Global LLC, Applied Technical Services, Triumph Group and Mistras Group Inc. are the major companies operating in the US NDT Equipment Market.
What years does this US NDT Equipment Market cover?
The report covers the US NDT Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US NDT Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US NDT Equipment Industry Report
Statistics for the 2024 US NDT Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US NDT Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
