Electromagnetic NDT Market Overview
NDT (Non-Destructive Techniques) are used in metal industry and science in order to evaluate the wide variety of material without causing damage. Few of the most commonly used techniques are electromagnetic, ultrasonic and penetration testing. Further, the electromagnetic method is used for inspection of conductive material such as copper, aluminum or steel in eddy current non-destructive testing.
Market Size and Forecast
The global Electromagnetic NDT market is expected to expand at a robust CAGR over the forecast period i.e. 2017-2014. Factor such as, increasing demand of NDT from different verticals such as oil & gas, industrial, aerospace and automotive, mostly for investigating the integrity of equipment and assets is anticipated to increase the growth of global Electromagnetic NDT market over the forecast period.
In the regional market, Europe is projected to dominate the overall Electromagnetic NDT market during the forecast period. Factor such as, increasing demand of industrial scanners and transducers are expected to positively impact the growth of Electromagnetic NDT market over the forecast period. Moreover, rising thickness gauges is anticipated significantly for the growth of Electromagnetic NDT market in Europe.
North America Electromagnetic NDT market is poised to grow at a poised rate over the upcoming years. Moreover, increasing growth of automotive and aerospace sector is fostering the growth of global Electromagnetic NDT market over the forecast period. Asia-Pacific region is expected to observe outstanding growth in the upcoming years. Increase in the manufacturing of ultrasonic testing equipment’s in countries like India and China is anticipated to drive the growth of global Electromagnetic NDT market over the upcoming years.
Based on type, Electromagnetic NDT market is segmented into, eddy current testing, alternating current field measurement (ACFM), remote field testing and others, out of which, eddy current testing is accounted for the largest market share in overall global Electromagnetic NDT market over the forecast period.
Our in-depth analysis has segmented global Electromagnetic NDT market into the following segments:
Global Electromagnetic NDT market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factor such as, increase in demand of ACFM crack detection solution and enhanced sensitivity to small cracks across the globe is anticipated to intensify the growth of global Electromagnetic NDT market over the forecast period. Further, effectual detection of surface and near surface defects is expected to positively drive the growth of the global Electromagnetic NDT market over the upcoming years.
In addition, increasing government regulation regarding safety and advancement in the electromagnetic technologies and NDT techniques is anticipated to be the dynamic factor behind the growth of the global Electromagnetic NDT market over the forecast period. Further, growing demand over product reliability is likely to further strengthen the growth of global Electromagnetic NDT market over the forecast period. Moreover, increasing advanced industrial machinery and aging public infrastructure across the globe is expected to robust the growth of the global Electromagnetic NDT market over the forecast period.
However, high cost of equipment and lack of skilled technicians are some of the key factors which are expected to limit the growth of global Electromagnetic NDT market over the forecast period.
Scope and Context
Overview of the Parent Market
The global Electromagnetic NDT market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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