Market Overview:
The global magnetic NDT equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for non-destructive testing (NDT) services across various industries, such as electricity, oil and gas, automotive, aerospace and others. In addition, the growing awareness about safety and quality among consumers is also propelling the demand for magnetic NDT equipment globally. Based on type, the global magnetic NDT equipment market can be segmented into potable equipment and standby equipment. The potable equipment segment is expected to account for a larger share of the global market than the standby equipment segment during the forecast period. This can be attributed to factors such as ease of use and portability of these equipments.;and othersincluding education& research institutes etc.
Product Definition:
Magnetic NDT equipment is used to detect and examine defects in ferromagnetic materials. This type of equipment uses a magnetic field to identify areas of damage or irregularity in the material. The importance of Magnetic NDT Equipment is that it can help identify potential problems with a material before they become an issue.
Potable Equipment:
Potable equipment is the water-based or non-alcoholic liquid used by Magnetic Resonance Imaging (MRI) scanners to produce powerful magnetic fields. The term potable is derived from the French word for drinkable, and thus refers to a beverage that can be consumed without being purified or processed in any way. In medical terms, it means suitable for drinking rather than technical usage.
Standby Equipment:
Magnetic Resonance Imaging (MRI) is an advanced medical imaging technology that uses powerful magnets and radio waves to produce images of body organs, tissues, and bones. Standby equipment are the systems which are used along with MRI machines for various operations such as cooling of the magnet after each scan, maintaining a constant magnetic field around the patient during the scan etc. The major component in any standby system is electric power supply which has to be uninterrupted for proper functioning of all components.
Application Insights:
Electricity application segment accounted for the largest market share in 2017 and is projected to grow at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the growing demand for NDT equipment in power generation, transmission & distribution, oil & gas, and other industries.
The use of magnetic field strength tester has been increasing since past few years owing to its effectiveness in testing electrical conductivity across various mediums such as water, oil & gas pipelines and soil. These devices help detect low levels of copper or steel wire corrosion that may go undetected with the naked eye or conventional detectors. In addition, these devices are used during maintenance activities on power lines and other utility infrastructure components so that defects can be detected early before they cause any damage or defect further down the line.
Regional Analysis:
North America dominated the global market in terms of revenue share in 2017. The growth can be attributed to the increasing demand for magnetic field inspection equipment from various application sectors, such as oil and gas, power generation, and others. In North America, U.S.
Asia Pacific is expected to witness significant growth over the forecast period owing to rising investments by prominent players in this region coupled with growing awareness regarding Magnetic Particle Detection (MPD) systems among users operating under high-risk environments such as nuclear power stations.
The Middle East region is anticipated to exhibit lucrative growth opportunities due its rapidly expanding oil & gas industry coupled with an increase in government spending on infrastructure development activities within this region will drive demand over next eight years (2030).
Growth Factors:
- Increasing demand for non-destructive testing (NDT) services in the automotive and aerospace industries
- Growing popularity of magnetic particle inspection (MPI) as a reliable and efficient NDT method
- Rising number of infrastructure projects across the globe
- Proliferation of digital technologies that have led to the development of advanced MPI systems
- Growing awareness about the benefits of using magnetic NDT equipment among end users
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic NDT Equipment Market Research Report
By Type
Potable Equipment, Standby Equipment
By Application
Electricity, Oil and gas, Automotive, Aerospace, Others
By Companies
CHiNDT, YG-NDT, Jebsen Industrial, Helling Gmbh, Ril-Chemie, Spectronics, LCNDT
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
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic NDT Equipment Market Report Segments:
The global Magnetic NDT Equipment market is segmented on the basis of:
Types
Potable Equipment, Standby Equipment
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
Electricity, Oil and gas, Automotive, Aerospace, 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:
- CHiNDT
- YG-NDT
- Jebsen Industrial
- Helling Gmbh
- Ril-Chemie
- Spectronics
- LCNDT
Highlights of The Magnetic 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:
- Potable Equipment
- Standby Equipment
- By Application:
- Electricity
- Oil and gas
- Automotive
- Aerospace
- 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 Magnetic 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?
Magnetic NDT equipment is a type of inspection equipment that uses magnetic fields to detect defects in metal parts. The device can be used to identify areas where the metal has been affected by corrosion, pitting, or other problems.
Some of the major companies in the magnetic ndt equipment market are CHiNDT, YG-NDT, Jebsen Industrial, Helling Gmbh, Ril-Chemie, Spectronics, LCNDT.
The magnetic ndt equipment market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Magnetic NDT Equipment 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 Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size & Forecast, 2018-2028
4.5.1 Magnetic NDT Equipment Market Size and Y-o-Y Growth
4.5.2 Magnetic NDT Equipment Market Absolute $ Opportunity
Chapter 5 Global Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size Forecast by Type
5.2.1 Potable Equipment
5.2.2 Standby Equipment
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size Forecast by Applications
6.2.1 Electricity
6.2.2 Oil and gas
6.2.3 Automotive
6.2.4 Aerospace
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Magnetic NDT Equipment 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 Magnetic NDT Equipment 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 Magnetic NDT Equipment Analysis and Forecast
9.1 Introduction
9.2 North America Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size Forecast by Type
9.6.1 Potable Equipment
9.6.2 Standby Equipment
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 Magnetic NDT Equipment Market Size Forecast by Applications
9.10.1 Electricity
9.10.2 Oil and gas
9.10.3 Automotive
9.10.4 Aerospace
9.10.5 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 Magnetic NDT Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size Forecast by Type
10.6.1 Potable Equipment
10.6.2 Standby Equipment
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 Magnetic NDT Equipment Market Size Forecast by Applications
10.10.1 Electricity
10.10.2 Oil and gas
10.10.3 Automotive
10.10.4 Aerospace
10.10.5 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 Magnetic NDT Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size Forecast by Type
11.6.1 Potable Equipment
11.6.2 Standby Equipment
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 Magnetic NDT Equipment Market Size Forecast by Applications
11.10.1 Electricity
11.10.2 Oil and gas
11.10.3 Automotive
11.10.4 Aerospace
11.10.5 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 Magnetic NDT Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America Magnetic NDT Equipment 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 Magnetic NDT Equipment Market Size Forecast by Type
12.6.1 Potable Equipment
12.6.2 Standby Equipment
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 Magnetic NDT Equipment Market Size Forecast by Applications
12.10.1 Electricity
12.10.2 Oil and gas
12.10.3 Automotive
12.10.4 Aerospace
12.10.5 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) Magnetic NDT Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Magnetic NDT Equipment 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) Magnetic NDT Equipment Market Size Forecast by Type
13.6.1 Potable Equipment
13.6.2 Standby Equipment
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) Magnetic NDT Equipment Market Size Forecast by Applications
13.10.1 Electricity
13.10.2 Oil and gas
13.10.3 Automotive
13.10.4 Aerospace
13.10.5 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 Magnetic NDT Equipment Market: Competitive Dashboard
14.2 Global Magnetic NDT Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 CHiNDT
14.3.2 YG-NDT
14.3.3 Jebsen Industrial
14.3.4 Helling Gmbh
14.3.5 Ril-Chemie
14.3.6 Spectronics
14.3.7 LCNDT
