About Electromagnetic NDT Equipment
Electromagnetic NDT, a form of NDT, is a process of inducing electric currents or magnetic fields or both inside a test object and observing the electromagnetic response which detects defects in ferromagnetic materials with a poor surface finish, or located beneath insulating material or other types of conducting materials (as is the case of vessel walls with cladding). These techniques are widely used in various industries, including aerospace, automotive, construction, and energy, to ensure safety, quality, and reliability.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.0% |
The electromagnetic NDT equipment Market is a fragmented market due to the presence of various players. The players are focusing on developing and originating innovation. Further, the growing demand for high-quality technology will contribute to increasing the market presence. The companies are also planning strategic activities such as product launches, collaborations, mergers, and acquisitions to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Electromagnetic NDT Equipment market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OKOndt Group (Ukraine), Testex NDT India Pvt. Ltd. (India), Morgan Ward NDT Ltd (United Kingdom), TesTex Incorporated (United States), Technologies Consulting International, Inc. (United States), Contrôle Mesure Systèmes (France), NDT Supply (United States), Renu Engineering Inspections Pte Ltd (Singapore), Centurion NDT (United States) and Eddyfi (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are General Electric (United States), IMG ULTRASUONI (Italy) and ETher NDE (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Electromagnetic NDT Equipment market by Type (Eddy Current Testing, Alternating Current Field Measurement and Remote Field Testing), Application (Petrochemical & Gas Industries, Mining Industry, Power Generation and Steel Industry) and Region.
On the basis of geography, the market of Electromagnetic NDT Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Growth Drivers:
Regular Maintenance of Infrastructure in Oil and Gas Sectors and Increased Service Intervals in Manufacturing Units
Challenges:
Lack of Skilled Labor Due To Increase in Aging Population
Restraints:
Validation of New Technology Is Costly
Opportunities:
Emergence in Energy Sectors and Aerospace Sectors
Market Leaders and their expansionary development strategies
In August 2023, Zeiss, a German optics and metrology giant, partnered with SonoCheck, a leading provider of ultrasonic NDT equipment, to develop advanced phased array inspection solutions for the aerospace industry.
In June 2023, Inspecta, a provider of NDT services, partnered with GE Inspection Technologies, a subsidiary of General Electric, to collaborate on developing and offering advanced electromagnetic NDT solutions for various industries.
Key Target Audience
Manufacturer, Suppliers & Distributors, New Entrance, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.