Global Nondestructive Inspection Market (Instruments and Service Business) in FY2028 Expected to Generate 4,923.7 Billion Yen
Yano Research Institute (the President, Takashi Mizukoshi) carried out a survey on the global and domestic nondestructive inspection markets, which led us to find out the trends of global and domestic inspection instrument markets, the trend of global and domestic inspection service business trends, the trends of market players, and the future outlook.
The global market size of nondestructive inspection (instruments and service business) in FY2019, based on the business sales, was estimated as 3,127,300 million yen. Of the total market size, the global market of instruments generated 966,100 million yen, while that of service business 2,161,200 million yen.
For FY2020, the global market size of nondestructive inspection instruments was estimated to end up with 822,500 million yen, 85.1% on a year-on-year basis, while that of service business estimated as 2,011,200 million yen, 93.1% on the same basis, diminishing the total market size to 2,833,700 million yen. The shrinkage in FY2020 was caused by the COVID-19 pandemic, which led both the market sizes of inspection instruments and inspection service business to decline. As the whole world restricted people to move around and/or to go outside, the impact of modification in people’s behavior has brought about some changes in social and economic activities.
The market size of nondestructive inspection (instruments and service business) in FY2019 in Japan, based on the business sales, was estimated as 235,200 million yen. Of the total market, the domestic market size of instruments was 98,100 million yen, while that of service business 137,100 million yen. For FY2020, the domestic market size of inspection instruments is expected to be 85,600 million yen, 87.3% on a YoY basis, and that of inspection service business to be 132,100 million yen, 96.4% on the same basis, making the total market size as 217,700 million yen. In Japan, too, the market of nondestructive inspection services as well as instruments resulted in negative growth, because of the COVID-19 pandemic. In the domestic market of inspection service business, the statuses differ by the respective fields. Drastic fall in business brought about inspection service business to decrease. In addition, the domestic market of nondestructive inspection instruments saw cancelling as well as postponement of purchases and decline in consumables caused by fewer frequencies of inspections.
Deregulations Brought about Fiercer Competitions and Vigorous Development of New Products and Services in Domestic Inspection Instrument Market
In 2019, there were deregulations in the inspections of social infrastructure including tunnels and bridges in Japan, which led to allow indirect inspections using secondary data, etc. instead of just close visual inspections. In addition, the performance catalogue for inspection instruments compiled by MLIT disclosed the assessment information on performance of some efficient inspection instruments other than conforming products, which helped service providers as well as their clients select instruments. This increased the frequency of inspections using unstandardized technologies and services, encouraging the studies and development of new products and services for inspections.
In and after FY2021, the vaccines for COVID-19 infections together with the changes in social activities are expected to suppress the pandemic and regenerate the demand for inspection instruments and service business, upturning the total global market size to an increase. By FY2028, the global market of nondestructive inspection instruments is forecasted to reach 1,771,800 million yen, while that of inspection service business to attain 3,151,900 million yen. As a result, the total market is expected to achieve 4,923,700 million yen.
For inspection services in the emerging countries, prevalence of infrastructure (mainly civil engineering, bridges, gas, and waterworks) has been prioritized. Therefore, inspection demand is not high yet, but sudden concentration in use of infrastructure may increase the demand for inspections.
In advanced countries, inspections and repairing have been performed at many regions, as aging of infrastructure is severer than in Japan. In Europe and U.S., where many inspection instrument manufacturers exist, steadfast demand for nondestructive inspections is often generated because inspections for infrastructure have been proactively performed. The market of inspection instruments consists of not only the existing inspection technologies but also gradually increasing new methods and systems, which is likely to make it higher growth rate than the market of service business. The growth also stems from use of instruments at enterprises for in-house inspections instead of relying on inspection services.
The market in Japan is also likely to recover in and after FY2021, with the forecast of the domestic nondestructive inspection market size to attain 317,400 million yen by FY2028.
The inspection service business is expected to grow steadily after FY2021, as some inspection demands are expected to recover by the following year. Especially, remarkable growth is anticipated in the field of civil engineering, bridges and constructions. Digitization, DX, and updating of inspection guidelines, performed every 5 years, are expected to significantly improve the work efficiency of nondestructive inspections and of their related paper works, bringing about improvement of unit price per service and increase in the number of services commissioned. Inspections in the construction industry has a high affinity with that of the civil engineering and bridge industry, which can expect horizontal development that can lead to maximized work efficiency at both sides, making the inspections at both industries to continue growing. As many businesses enter the market to deal with both industries, the inspection market in these fields is likely to go through healthy price competitions and competitions for survival. Still, the market is projected to expand, as popularization and increase of users outperform such competitions. The domestic nondestructive inspection service business market size, therefore, is likely to achieve 185,100 million yen by FY2028.
The domestic market of inspection instruments is projected to continue growing due to continuous generation of inspection demands as well as to proactive investment at companies performing in-house inspections. The market size is expected to attain 132,300 million yen by FY2028.
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