This Electromagnetic Ndt market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Electromagnetic Ndt market.
Nondestructive testing (NDT) is the process of inspecting materials, components and assemblies in order to find discontinuities or differences in their characteristics without damaging the particular system. NDT testing through electric currents or magnetic fields or both to observe the electromagnetic response is termed as Electromagnetic NDT. The basic principle of working for Electromagnetic NDT is induction of an electric current or magnetic field into a conductive part, after which the response of the material with respect to the induced current is evaluated. These techniques are widely used to detect and measure faults, thickness, electrical conductivity, bond or weld integrity and also to perceive the presence of rebar or metals.
Stringent government regulations regarding safety and environmental issues are currently driving the market for Electromagnetic NDT. Increasing demand for NDT from the verticals such as industrial, oil & gas, automotive and aerospace, mainly for investigating the integrity of equipment and assets, are further strengthening the market growth. However, factors such as high cost of equipment and technical anomalies are holding back the market growth.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
NDT differs from the other destructive testing techniques. It is used on most of the materials, components and assemblies which are used during operations, as against destructive testing, which has its application limited to few systems. Destructive tests are generally utilized for examining the physical characteristics of materials such as ductility, tensile strength, yield, impact resistance, fracture toughness and fatigue strength. On the other hand, NDT are used for discontinuities and differences in material properties, which cannot be effectively traced using destructive testing.
Improved sensitivity to small cracks, efficient detection of surface and near surface defects, requirement of minimum part preparation are few of the significant factors driving the growth of Electromagnetic NDT market. Additionally, Electromagnetic NDT enables inspection of complex shapes and sizes of conductive materials, further propelling the adoption of these techniques in the various industry verticals.
However, the Electromagnetic NDT market growth is restrained by the high cost of equipment (which are used at several stages of testing) and lack of skilled technicians. Additionally, technical limitations encountered during Electromagnetic NDT have compelled the industry to look out for the alternatives, in turn restraining the market growth. Some of these limitations include accurate inspection of conductive materials only, significant interference of surface finish, limited depth of penetration, and mandatory requirement of roughness reference standards for setup.
Growing demand of ensuring product reliability, maintain a uniform quality level and lower production costs, during manufacturing and fabrication stages, across various industries is expected to drive the growth of the Electromagnetic NDT market during the forecast period. Additionally, technological advances in the field of electromagnetism and related NDT techniques have increased its deployment in in complex industry operations. For instance, Electromagnetic NDT are being readily used in the inspection of reactor vessels of nuclear power plants, which earlier utilized ultrasonic techniques.
Electromagnetic NDT market is mainly classified on the basis of type and geography.
Among these techniques, eddy-current testing is the most commonly used and is employed for near-surface cracks and corrosion detection, in metallic objects such as tubes and aircraft fuselage.
Key Market Players:
Key players in the industry include General Electric, Olympus Corporation, NDT Technologies, Institut Dr. Foerster GmbH & Co. KG, Zetec Inc., Magnetic Analysis Corporation and Eddyfi.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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On the basis of type, Electromagnetic NDT is segmented as:
- Eddy Current Testing
- Alternating Current Field Measurement (ACFM)
- Remote Field Testing (RFT)
- Others (Barkhausen Noise Analysis (BNA) method, Ground Penetrating Radar (GPR) and Magnetic Resonance Imaging (MRI))
On the basis of geographies, global market of Electromagnetic NDT is segmented as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa
The report covers exhaustive analysis on:
- Electromagnetic NDT Market Segments
- Electromagnetic NDT Market Dynamics
- Historical Actual Market Size, 2012 - 2014
- Electromagnetic NDT Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- Electromagnetic NDT Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Electromagnetic NDT Market Drivers and Restraints
Regional analysis for Electromagnetic NDT Market includes development of these systems in the following regions:
- North America
- Latin America
- Rest of LATAM
- Western Europe
- Rest of the Western Europe
- Eastern Europe
- Rest of the Eastern Europe
- Western Europe
- Asia Pacific excluding Japan (APEJ)
- Australia and New Zealand (ANZ)
- Rest of APEJ
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Electromagnetic Ndt Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Electromagnetic Ndt Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Electromagnetic Ndt Market report?
In addition to up-to-date market figures and customized of the Electromagnetic Ndt Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.