Non- destructive testing techniques are utilized in several end usage enterprises related to welds and metals. The fundamental reason is to anticipate the attributes of the materials devoid of harming them. The eddy current NDT is unique among the different technique utilized to identify defects or change in the attributes of the materials with the assistance of eddy current instigated in the test that infiltrates into the conductive surface of the test material as well as reflects bending in the instrument in the event of any blemish or break.
The worldwide market for eddy current NDT equipment is projected to be estimated at US$ 324.6 Million during 2018 and is estimated to account for an evaluation of US$ 538 Million during 2026 end, reflecting a 6.7% CAGR for the period of assessment 2026.
• On the basis of the equipment type, the global market includes offline, inline, full-body and rotational. The inline testing equipment is anticipated to account for a market estimation of US$ 16.6 Million towards 2026 end.
• On the basis of the technology, the worldwide market includes array scanning, single frequency, pulsed eddy current and multi-frequency. The array scanning category is expected to grow at a remarkable CAGR and is likely to be an emergent technology on account of its less inspection time.
• On the basis of the application, the global market is categorized into testing & inspection(includes hardness testing, weld inspection, conductivity testing, bolt hole & tubing inspection and surface inspection), detection(includes flaw & crack and corrosion) and measurement( includes metal thickness and non-conductive coating thickness). The measurement category was estimated at US$ 54.9 Million through 2017 end.
• On the basis of the end use industry, the global market includes power generation, transportation(includes marine, automotive and aerospace), heavy engineering equipment and oil & gas. The transportation segment will be accounting for 65.3% of the overall market share in value terms by 2018 end.
• On the basis of the region, the global market includes North America, Europe, Latin America, China, South East Asia Pacific, Middle East & Africa and Japan. North America regional market was estimated at US$ 123.2 Million during 2017 and is anticipated to reflect a 6.5% CAGR over the assessment period.
Key Market Players
The key market players functioning in the global market include
• Magnetic Analysis Corporation
• General Electric
• ETher NDE
• Olympus Corporation
• Ashtead Technology
• Zetec, Inc.
• Thermo Fisher Scientific Inc.
• Ibg NDT System Corporation
• Criterion NDT, Inc.
• IMG ULTRASUONI Srl
• Rohmann GmbH
• Fischer Technology Inc.
• Foerster Holding GmbH