Market Overview:
The global eddy current NDT equipment market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for eddy current NDT equipment from various end-use industries, such as oil & gas, transportation, defense and aerospace, industrial manufacturing, and others. In addition, the growing awareness about safety and quality among consumers is also propelling the growth of this market. Based on type, the global eddy current NDT equipment market can be segmented into portable eddy current NDT equipment and desktop eddy current NDT equipment.
Product Definition:
Eddy current NDT equipment is used to detect and measure discontinuities in metal objects. The importance of eddy current NDT equipment is that it can detect very small discontinuities in a metal object, which could cause a failure in the object if not fixed.
Portable Eddy Current NDT Equipment:
Portable eddy current NDT equipment is used for inspection and testing of pipeline systems, subsea oil & gas pipelines, industrial process plants and other underground processes. The primary function of portable eddy current equipment is to detect the discontinuities in a conductive medium such as soil or water. Eddy currents are generated by magnetic fields created by moving electric charges which occur naturally due to the motion of ions in a conductor such as soil water or rock saltwater.
Desktop Eddy Current NDT Equipment:
Desktop eddy current NDT equipment is used for inspection of pipelines, tanks, and other metallic objects. It works on the principle of attraction and repulsion between two conductive surfaces which are placed close to each other. One of the key features that makes this device different from others is its ability to inspect small area at a time which reduces risk while working in tight spaces.
Application Insights:
The industrial manufacturing segment dominated the global eddy current NDT equipment market in terms of revenue in 2017. The growth can be attributed to the increasing demand for high-precision manufactured products. In addition, a large number of inspection activities are carried out during production processes such as metal cutting and drilling operations at different stages which requires eddy current equipment for testing purposes.
The oil & gas application segment is expected to witness significant growth over the forecast period owing to rising demand from operators for onshore and offshore exploration activities coupled with an increase in investment by companies operating in this sector including Statoil, BP, Repsol YPF, Eni among others. For instance; Eni SPA has announced plans to invest USD 2 billion every year until 2020 which will lead to an increase in requirement of Nondestructive Testing (NDT) tools including eddy Current Inspection Tools (ICIT). Such investments are anticipated drive the global industry thereby supporting the overall market growth over forecast period.
Regional Analysis:
North America dominated the global eddy current NDT equipment market in 2016. The growth of the region can be attributed to increasing government spending on defense and aerospace, which has resulted in increased demand for Eddy Current Systems (ECS). Moreover, growing oil & gas industry is also expected to drive the regional market over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to rapid industrialization and expanding oil & gas industry base across countries such as China, India, Indonesia, Malaysia and Thailand. Furthermore rising transportation sector across developing economies such as China and India will further boost product demand in this region. ‘’’The European Commission announced a funding program worth USD X million for research on new technologies related to underwater robots at University of Bath in 2017.
Growth Factors:
- Increasing demand for non-destructive testing (NDT) services in the aerospace, automotive, and manufacturing industries
- Growing popularity of eddy current NDT equipment owing to its ability to detect discontinuities and defects in a wide range of materials
- Rising investments by governments and private companies in research and development (R&D) activities for advanced NDT technologies
- Proliferation of digital technologies that are helping improve the accuracy and efficiency of eddy current NDT equipment
- Emergence of new applications for eddy current NDT technology such as condition monitoring, failure analysis, etc
Scope Of The Report
Report Attributes
Report Details
Report Title
Eddy Current NDT Equipment Market Research Report
By Type
Portable Eddy Current NDT Equipment, Desktop Eddy Current NDT Equipment, Others
By Application
Oil & Gas, Transportation, Defense and Aerospace, Industrial Manufacturing, Others
By Companies
Olympus, General Electric, Foerster, PRUFTECHNIK, Eddyfi, Zetec, UniWest, Rohmann, Magnetic Analysis, Ibg Prufcomputer GmbH
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Eddy Current NDT Equipment Market Report Segments:
The global Eddy Current NDT Equipment market is segmented on the basis of:
Types
Portable Eddy Current NDT Equipment, Desktop Eddy Current NDT Equipment, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Transportation, Defense and Aerospace, Industrial Manufacturing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Olympus
- General Electric
- Foerster
- PRUFTECHNIK
- Eddyfi
- Zetec
- UniWest
- Rohmann
- Magnetic Analysis
- Ibg Prufcomputer GmbH
Highlights of The Eddy Current NDT Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Portable Eddy Current NDT Equipment
- Desktop Eddy Current NDT Equipment
- Others
- By Application:
- Oil & Gas
- Transportation
- Defense and Aerospace
- Industrial Manufacturing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Eddy Current NDT Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Eddy Current NDT equipment is a type of inspection equipment that uses an electric current to detect the presence of metal in a material.
Some of the key players operating in the eddy current ndt equipment market are Olympus, General Electric, Foerster, PRUFTECHNIK, Eddyfi, Zetec, UniWest, Rohmann, Magnetic Analysis, Ibg Prufcomputer GmbH.
The eddy current ndt equipment market is expected to grow at a compound annual growth rate of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Eddy Current NDT Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Eddy Current NDT Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Eddy Current NDT Equipment Market - Supply Chain
4.5. Global Eddy Current NDT Equipment Market Forecast
4.5.1. Eddy Current NDT Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Eddy Current NDT Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Eddy Current NDT Equipment Market Absolute $ Opportunity
5. Global Eddy Current NDT Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Eddy Current NDT Equipment Market Size and Volume Forecast by Type
5.3.1. Portable Eddy Current NDT Equipment
5.3.2. Desktop Eddy Current NDT Equipment
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Eddy Current NDT Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Eddy Current NDT Equipment Market Size and Volume Forecast by Application
6.3.1. Oil & Gas
6.3.2. Transportation
6.3.3. Defense and Aerospace
6.3.4. Industrial Manufacturing
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Eddy Current NDT Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Eddy Current NDT Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Eddy Current NDT Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Eddy Current NDT Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Eddy Current NDT Equipment Demand Share Forecast, 2019-2026
9. North America Eddy Current NDT Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Eddy Current NDT Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Eddy Current NDT Equipment Market Size and Volume Forecast by Application
9.4.1. Oil & Gas
9.4.2. Transportation
9.4.3. Defense and Aerospace
9.4.4. Industrial Manufacturing
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Eddy Current NDT Equipment Market Size and Volume Forecast by Type
9.7.1. Portable Eddy Current NDT Equipment
9.7.2. Desktop Eddy Current NDT Equipment
9.7.3. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Eddy Current NDT Equipment Demand Share Forecast, 2019-2026
10. Latin America Eddy Current NDT Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Eddy Current NDT Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Eddy Current NDT Equipment Market Size and Volume Forecast by Application
10.4.1. Oil & Gas
10.4.2. Transportation
10.4.3. Defense and Aerospace
10.4.4. Industrial Manufacturing
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Eddy Current NDT Equipment Market Size and Volume Forecast by Type
10.7.1. Portable Eddy Current NDT Equipment
10.7.2. Desktop Eddy Current NDT Equipment
10.7.3. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Eddy Current NDT Equipment Demand Share Forecast, 2019-2026
11. Europe Eddy Current NDT Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Eddy Current NDT Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Eddy Current NDT Equipment Market Size and Volume Forecast by Application
11.4.1. Oil & Gas
11.4.2. Transportation
11.4.3. Defense and Aerospace
11.4.4. Industrial Manufacturing
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Eddy Current NDT Equipment Market Size and Volume Forecast by Type
11.7.1. Portable Eddy Current NDTEquipment
11.7.2. Desktop Eddy Current NDT Equipment
11.7.3. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Eddy Current NDT Equipment Demand Share, 2019-2026
12. Asia Pacific Eddy Current NDT Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Eddy Current NDT Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Eddy Current NDT Equipment Market Size and Volume Forecast by Application
12.4.1. Oil & Gas
12.4.2. Transportation
12.4.3. Defense and Aerospace
12.4.4. Industrial Manufacturing
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Eddy Current NDT Equipment Market Size and Volume Forecast by Type
12.7.1. Portable Eddy Current NDT Equipment
12.7.2. Desktop Eddy Current NDT Equipment
12.7.3. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Eddy Current NDT Equipment Demand Share, 2019-2026
13. Middle East & Africa Eddy Current NDT Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Eddy Current NDT Equipment Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Eddy Current NDT Equipment Market Size and Volume Forecast by Application
13.4.1. Oil & Gas
13.4.2. Transportation
13.4.3. Defense and Aerospace
13.4.4. Industrial Manufacturing
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Eddy Current NDT Equipment Market Size and Volume Forecast by Type
13.7.1. Portable Eddy Current NDT Equipment
13.7.2. Desktop Eddy Current NDT Equipment
13.7.3. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Eddy Current NDT Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Eddy Current NDT Equipment Market: Market Share Analysis
14.2. Eddy Current NDT Equipment Distributors and Customers
14.3. Eddy Current NDT Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Olympus
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. General Electric
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Foerster
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. PRUFTECHNIK
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Eddyfi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Zetec
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. UniWest
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Rohmann
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Magnetic Analysis
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Ibg Prufcomputer GmbH
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook