Non-Destructive Testing Market for the Infrastructure Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global non-destructive testing market for the infrastructure industry was valued at USD 35.3 billion in 2020, and it is projected to be worth USD 51.46 billion by 2026, registering a CAGR of 6.2% during the period 2021-2026. Countries are increasingly focusing on the inspection of commercial and residential buildings. Ground-penetrating radar (GPR) is currently growing in importance because of the cost advantages. It is increasingly being used for bridge and tunnel inspections, roadway investigations and to ensure properly compacted asphalt on roads. Using the GPR technology, Kentucky Transportation Center, United States found out the location of large voids in Cumberland Gap Tunnel, which links Kentucky and Tennessee. It was also able to significantly reduce the repair costs by using GPR, to confirm that no voids needed to be fixed on one end of the tunnel.
Key HighlightsThe non-destructive testing market for the infrastructure industry is fragmented in nature. In the market studied, the competitive rivalry between various firms is dependent on price, product, or market share, along with the intensity with which they compete in the market. Sustainable competitive advantage can be gained through innovation. Market incumbents have been adopting powerful competitive strategies based on product differentiation, market expansion, and mergers and acquisition activities. Key players are SGS SA, Acuren Group Inc., and others. Recent developments in the market are -
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