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Eddy-current Testing Market by Technique (Conventional Eddy Current Testing, Remote Field Testing, Alternating Current Field Measurement, Eddy Current Array, and Others), Service (Inspection Services, Equipment Rental Services, Calibration Services and Training Services), and Industry Verticals (Manufacturing, Oil & Gas, Automotive, Power Generation, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12139
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Sep 2021 | 78 Views
   
Author(s) : Vijay Poola
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COVID-19

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Eddy-current testing (ECT) is a testing technique that makes use of electromagnetic waves in order to determine the defect over the surface or sub-surface of a conductive material. The eddy-current testing techniques are usually non-destructive in nature.

In the past decade, this technique was abundantly used due to the benefits it provides such as its ability to detect cracks through surface coatings, measure accurate conductivity, ultra-sensitive to surface defects, and portability. Some of the major applications of eddy-current testing (ECT) are tubing inspection and surface inspection. Therefore the benefits and wide application is expected to increase eddy-current testing market size. The increase in safety regulation made by the governing agencies has led to the market growth.  Since this technique is electric in nature, therefore its applications are limited to conductive materials.

The eddy-current testing market share is segmented on the basis of technique, service, industry verticals, and region. Based on technique, the market is bifurcated into conventional eddy current testing, remote field testing, alternating current field measurement, eddy current array, and others. By service, it is categorized into inspection services, equipment rental services, calibration services and training services. By industry verticals, it is categorized into manufacturing, oil & gas, automotive, power generation, and others. Based on region, the market is analyzed across North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Key players operating in the eddy-current testing market include Mistras Group Inc., Magnetic Analysis Corporation Inc., Ashtead Technology Ltd., Ether NDE Limited, Zetec Inc., Olympus Corporation Fidgeon Limited, General Electric Company, Ibg NDT System Corporation, Eddyfi NDT Inc. and UV Rheinland AG. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the eddy-current testing industry and develop new products for enhancing product portfolio.

COVID-19 Scenario Analysis

The COVID-19 pandemic has spread to almost all the countries in the globe. Its outbreak has been declared a global public health emergency by the World Health Organization (WHO) on March 11, 2020. The COVID-19 pandemic has imposed global lockdowns and strict social distancing measures as a solution to control the COVID-19 outbreak. These control measures have significantly affected almost all the industries such as food & beverages, energy & power, consumer goods, automobile & transportation, mining & glass, pharma & healthcare, retail & commerce, chemical & material, electronics & semiconductor, and banking & financial services.

The eddy-current testing industry is adversely affected by this COVID-19 outbreak as the manufacturing plants were shut down, the supply chain was disrupted, and the demand in the market for eddy current testing declined, all of which have negatively impacted the market growth. Therefore, this COVID-19 pandemic has given irreparable losses to almost all the businesses.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The technological development in the eddy-current testing techniques has encouraged the customers to adopt this technology. Moreover, by using the eddy-current testing techniques for testing, no harm is caused to the examined material. This has led to rise in demand for eddy-current testing in the market.

The end-users of the oil & gas industries have increased at a rapid pace. The need for testing of the materials involved in the oil & gas industry has risen. Owing to the advantages of using the eddy-current testing such as accurate detection of cracks and causing no harm to the testing material, manufacturers prefer eddy-current testing techniques. Ultimately, this leads to the demand for eddy-current testing in the market. Thereby increasing the eddy-current testing market size.

One of the major restraining factors in the eddy-current testing industry is the lack of skilled labor, qualified person and awareness about these eddy-current testing techniques. Furthermore, since the eddy-current testing technique is used to test the conductive materials it is not useful for detecting the defects for other materials such as fiber, glass, plastic, and rubber.

The Eddy-current Testing Market Trends

The Expansion of the Oil & Gas Industry

In the past decade, there has been a tremendous rise in demand for fossil fuel-based energy sources such as petrol, diesel, and crude oil. And this has led to the surge in infrastructure development for oil production and transportation systems. In order to avoid any accident in the due process such as pipeline leakage and oil spills, the materials used for the development of infrastructure in the oil & gas industry were thoroughly tested by using the eddy-current testing techniques. This has led to the rise in demand for eddy-current testing in the market. Oil & gas industry is expected to have a major eddy-current testing market share. Therefore, the eddy-current testing industry forecast is expected to grow significantly.

Advancement in ECT Technology

The growth of eddy-current testing is quite evident with the advancement in eddy-current testing technology. The conductive material used in the industrial sector should be properly checked in order to avoid any mishaps which are ensured with the help of eddy-current testing. And also, according to the government safety protocols, all the industrial equipment should undergo certain safety procedures. All these factors have driven the growth of the demand of eddy-current testing in the market. Therefore, the eddy-current testing industry forecast is expected to grow significantly.

Market Scope and Structure Analysis

Report Metric

Details

 Market Size Available for Years

 2020–2030

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Units 

 Value (USD)

 Segments Covered

 Technique, Service, and Industry Verticals

 Regions Covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

 Companies Covered

Mistras Group Inc., Magnetic Analysis Corporation Inc., Ashtead Technology Ltd., Ether NDE Limited, Zetec Inc., Olympus Corporation Fidgeon Limited, General Electric Company, Ibg NDT System Corporation, Eddyfi NDT Inc. and UV Rheinland AG.

 

Key Benefits of the Report

  • This study presents the analytical depiction of the eddy-current testing market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed Eddy-current Testing Market analysis.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the Eddy-current Testing Market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
  • The report provides a detailed eddy-current testing market analysis based on competitive intensity and how the competition will take shape in coming years.

Key Segments Covered

Segments

Subsegments

 Technique

  • Conventional Eddy Current Testing
  • Remote Field Testing
  • Alternating Current Field Measurement
  • Eddy Current Array
  • Others

 Service

  • Inspection Services
  • Equipment Rental Services
  • Calibration Services
  • Training Services

 Industry Verticals

  • Manufacturing
  • Oil & Gas
  • Automotive
  • Power Generation
  • Others (aerospace, Government, Infrastructure & Public Safety, Petrochemical Industry)


Questions Answered in the Research Report

  • Which are the leading players active in the eddy-current testing market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and Eddy-current Testing Market opportunities?
  • What are the projections for the future that would help in taking further strategic steps?
 
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