Market Overview:
The global eddy current testing market is expected to grow at a CAGR of 5.8% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for non-destructive testing (NDT) methods across various industries and the growing awareness about the benefits of eddy current testing over other NDT methods. The conventional eddy current testing segment is expected to hold the largest share of the global eddy current testing market in 2018. This segment is projected to grow at a CAGR of 5.9% from 2018 to 2030, owing to its low cost and easy availability compared with other types of eddy current tests. The oil & gas industry is expected to account for the largest share of the global eddy currenttesting market in 2018, followed by aerospace and government infrastructure segments respectively.
Product Definition:
Eddy current testing is a nondestructive testing method that uses the principles of electromagnetic induction to detect and measure discontinuities in conductive materials. The technique is used to inspect a wide range of components and structures, including welds, castings, forgings, and sheet metal.
Conventional Eddy Current Testing:
Conventional eddy current testing is a method of measuring the torque or turning force in an electric motor. It is used to determine if the windings of a motor are carrying an appropriate amount of current for their size and position in the circuit. The test can also be used to detect problems with insulation, magnetism, or electrical connections within a winding.
The conventional eddy current testing market has been growing at a steady pace over the past few years.
Alternating Current Field Measurement(ACFM):
ACFM is a method to measure the magnetic flux density in an electric field. It utilizes a solenoid coil that generates an alternating current and measures the rate of change of electrical energy in the form of heat. ACFM is used for testing transformers, motors, generators, batteries & other electrical devices for induction and resonance purposes.
The market size was valued at USD 1.5 billion in 2015.
Application Insights:
The oil & gas segment dominated the global eddy current testing market in 2017 and is expected to witness significant growth over the forecast period. The increasing need for onshore and offshore drilling, particularly in deep water locations, has led to an increased use of eddy currents for well completions.
Eddy currents are used extensively for various applications such as oil & gas exploration; aerospace component testing; automotive repair; government infrastructure maintenance; power generation equipment inspection and cleaning etc. In addition to these conventional uses, they have found their way into several emerging industries including medical equipment manufacturing where they are used as a non-invasive diagnostic tool or probe during inspections of complex machinery or devices that require close examination from different angles.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness a CAGR of XX% during the forecast period. This growth can be attributed to increasing government spending on infrastructure development and rising oil & gas E&P activities in North America. For instance, according to the U.S Energy Information Administration (EIA), crude oil production increased by nearly 9% from 2015 to 2016 while natural gas production increased by 3%.
Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period owing with rapid industrialization and urbanization resulting into an increase in energy demand, especially for electricity generation applications which are majorly driven by growing economies such as China and India along with other Southeast Asian countries such as Vietnam, Indonesia, Philippines etc.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for Eddy Current Testing in the automotive and aerospace industries due to the growing need for quality control and safety inspection.
- The increasing popularity of Eddy Current Testing as a non-destructive testing method that can detect surface and subsurface defects in materials.
- The development of new technologies that improve the accuracy and efficiency of Eddy Current Testing procedures.
- Growing demand from emerging markets such as China and India due to their expanding manufacturing sectors.
- Rising awareness among engineers about the benefits of using Eddy Current Testing for detecting flaws in materials
Scope Of The Report
Report Attributes
Report Details
Report Title
Eddy Current Testing Market Research Report
By Type
Conventional Eddy Current Testing, Alternating Current Field Measurement(ACFM), Remote Field Testing(RFT), Eddy Current Array(ECA), Pulsed Eddy Current Testing, Near-Field Testing(NFT), Near-Field Array(NFA), Partial Saturation Eddy Current(PSEC)
By Application
Oil & Gas, Aerospace, Government Infrastructure, Automotive, Power Generation, Others
By Companies
General Electric, Olympus, Ashtead Technology, Mistras Group, Eddyfi NDT, Ether NDE, Zetec, TUV Rheinland, IBG NDT Systems, Fidgeon, Magnetic Analysis, Oxford Instruments, Koslow Scientific
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
213
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Eddy Current Testing Market Report Segments:
The global Eddy Current Testing market is segmented on the basis of:
Types
Conventional Eddy Current Testing, Alternating Current Field Measurement(ACFM), Remote Field Testing(RFT), Eddy Current Array(ECA), Pulsed Eddy Current Testing, Near-Field Testing(NFT), Near-Field Array(NFA), Partial Saturation Eddy Current(PSEC)
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, Aerospace, Government Infrastructure, Automotive, Power Generation, 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:
- General Electric
- Olympus
- Ashtead Technology
- Mistras Group
- Eddyfi NDT
- Ether NDE
- Zetec
- TUV Rheinland
- IBG NDT Systems
- Fidgeon
- Magnetic Analysis
- Oxford Instruments
- Koslow Scientific
Highlights of The Eddy Current Testing 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:
- Conventional Eddy Current Testing
- Alternating Current Field Measurement(ACFM)
- Remote Field Testing(RFT)
- Eddy Current Array(ECA)
- Pulsed Eddy Current Testing
- Near-Field Testing(NFT)
- Near-Field Array(NFA)
- Partial Saturation Eddy Current(PSEC)
- By Application:
- Oil & Gas
- Aerospace
- Government Infrastructure
- Automotive
- Power Generation
- 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 Testing 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.
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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 testing is a method of measuring the resistance of an electrical conductor to the flow of electric current.
Some of the major companies in the eddy current testing market are General Electric, Olympus, Ashtead Technology, Mistras Group, Eddyfi NDT, Ether NDE, Zetec, TUV Rheinland, IBG NDT Systems, Fidgeon, Magnetic Analysis, Oxford Instruments, Koslow Scientific.
The eddy current testing market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Eddy Current Testing Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Eddy Current Testing Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Eddy Current Testing Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Eddy Current Testing Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Eddy Current Testing Market Size & Forecast, 2018-2028
4.5.1 Eddy Current Testing Market Size and Y-o-Y Growth
4.5.2 Eddy Current Testing Market Absolute $ Opportunity
Chapter 5 Global Eddy Current Testing Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Eddy Current Testing Market Size Forecast by Type
5.2.1 Conventional Eddy Current Testing
5.2.2 Alternating Current Field Measurement(ACFM)
5.2.3 Remote Field Testing(RFT)
5.2.4 Eddy Current Array(ECA)
5.2.5 Pulsed Eddy Current Testing
5.2.6 Near-Field Testing(NFT)
5.2.7 Near-Field Array(NFA)
5.2.8 Partial Saturation Eddy Current(PSEC)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Eddy Current Testing Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Eddy Current Testing Market Size Forecast by Applications
6.2.1 Oil & Gas
6.2.2 Aerospace
6.2.3 Government Infrastructure
6.2.4 Automotive
6.2.5 Power Generation
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Eddy Current Testing Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Eddy Current Testing Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Eddy Current Testing Analysis and Forecast
9.1 Introduction
9.2 North America Eddy Current Testing Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Eddy Current Testing Market Size Forecast by Type
9.6.1 Conventional Eddy Current Testing
9.6.2 Alternating Current Field Measurement(ACFM)
9.6.3 Remote Field Testing(RFT)
9.6.4 Eddy Current Array(ECA)
9.6.5 Pulsed Eddy Current Testing
9.6.6 Near-Field Testing(NFT)
9.6.7 Near-Field Array(NFA)
9.6.8 Partial Saturation Eddy Current(PSEC)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Eddy Current Testing Market Size Forecast by Applications
9.10.1 Oil & Gas
9.10.2 Aerospace
9.10.3 Government Infrastructure
9.10.4 Automotive
9.10.5 Power Generation
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Eddy Current Testing Analysis and Forecast
10.1 Introduction
10.2 Europe Eddy Current Testing Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Eddy Current Testing Market Size Forecast by Type
10.6.1 Conventional Eddy Current Testing
10.6.2 Alternating Current Field Measurement(ACFM)
10.6.3 Remote Field Testing(RFT)
10.6.4 Eddy Current Array(ECA)
10.6.5 Pulsed Eddy Current Testing
10.6.6 Near-Field Testing(NFT)
10.6.7 Near-Field Array(NFA)
10.6.8 Partial Saturation Eddy Current(PSEC)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Eddy Current Testing Market Size Forecast by Applications
10.10.1 Oil & Gas
10.10.2 Aerospace
10.10.3 Government Infrastructure
10.10.4 Automotive
10.10.5 Power Generation
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Eddy Current Testing Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Eddy Current Testing Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Eddy Current Testing Market Size Forecast by Type
11.6.1 Conventional Eddy Current Testing
11.6.2 Alternating Current Field Measurement(ACFM)
11.6.3 Remote Field Testing(RFT)
11.6.4 Eddy Current Array(ECA)
11.6.5 Pulsed Eddy Current Testing
11.6.6 Near-Field Testing(NFT)
11.6.7 Near-Field Array(NFA)
11.6.8 Partial Saturation Eddy Current(PSEC)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Eddy Current Testing Market Size Forecast by Applications
11.10.1 Oil & Gas
11.10.2 Aerospace
11.10.3 Government Infrastructure
11.10.4 Automotive
11.10.5 Power Generation
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Eddy Current Testing Analysis and Forecast
12.1 Introduction
12.2 Latin America Eddy Current Testing Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Eddy Current Testing Market Size Forecast by Type
12.6.1 Conventional Eddy Current Testing
12.6.2 Alternating Current Field Measurement(ACFM)
12.6.3 Remote Field Testing(RFT)
12.6.4 Eddy Current Array(ECA)
12.6.5 Pulsed Eddy Current Testing
12.6.6 Near-Field Testing(NFT)
12.6.7 Near-Field Array(NFA)
12.6.8 Partial Saturation Eddy Current(PSEC)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Eddy Current Testing Market Size Forecast by Applications
12.10.1 Oil & Gas
12.10.2 Aerospace
12.10.3 Government Infrastructure
12.10.4 Automotive
12.10.5 Power Generation
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Eddy Current Testing Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Eddy Current Testing Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Eddy Current Testing Market Size Forecast by Type
13.6.1 Conventional Eddy Current Testing
13.6.2 Alternating Current Field Measurement(ACFM)
13.6.3 Remote Field Testing(RFT)
13.6.4 Eddy Current Array(ECA)
13.6.5 Pulsed Eddy Current Testing
13.6.6 Near-Field Testing(NFT)
13.6.7 Near-Field Array(NFA)
13.6.8 Partial Saturation Eddy Current(PSEC)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Eddy Current Testing Market Size Forecast by Applications
13.10.1 Oil & Gas
13.10.2 Aerospace
13.10.3 Government Infrastructure
13.10.4 Automotive
13.10.5 Power Generation
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Eddy Current Testing Market: Competitive Dashboard
14.2 Global Eddy Current Testing Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 General Electric
14.3.2 Olympus
14.3.3 Ashtead Technology
14.3.4 Mistras Group
14.3.5 Eddyfi NDT
14.3.6 Ether NDE
14.3.7 Zetec
14.3.8 TUV Rheinland
14.3.9 IBG NDT Systems
14.3.10 Fidgeon
14.3.11 Magnetic Analysis
14.3.12 Oxford Instruments
14.3.13 Koslow Scientific
