Menu ×

IT & TELECOM

Electromagnetic NDT Market By Type (Eddy Current Testing, Alternating Current Field Measurement (ACFM), Remote Field Testing, Others) - Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

  • Report ID: 619
  • Text Size:

Extensive insights into the Growth of Electromagnetic NDT Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More

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.

Electromagnetic NDT Market

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.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis has segmented global Electromagnetic NDT market into the following segments:

By Type

  • Eddy Current Testing
  • Alternating Current Field Measurement (ACFM)
  • Remote Field Testing
  • Others

By Region

Global Electromagnetic NDT market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

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.

Key Players

  • General Electric
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Olympus Corporation
  • NDT Technologies
  • Foerster Holding GmbH
  • Zetec Inc.
  • Magnetic Analysis Corporation
  • Eddyfi
  • Ashtead Technologies
  • Mistras Group

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global Electromagnetic NDT market is segmented as follows:

  • By Type Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

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

 


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2020 Research Nester. All Rights Reserved