Press release
Eddy-Current Testing Market is Estimated to Reach $2.3 Billion by 2030, Growing at a CAGR of 9.5%
Eddy-current Testing Market
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The expansion of the global eddy current testing market is majorly driven by advancements in the new ECT technology paired with rising safety regulations by governments. Moreover, a rise in safety regulations by governments is anticipated to drive the growth of eddy current testing market However, the lack of a skilled and qualified workforce is acting as a prime restraint of the global eddy current testing market.
On the contrary, increased infrastructural developments in emerging economies and manufacturing opportunities in BRICS are anticipated to provide lucrative opportunities for the eddy current testing industry during the forecast period.
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According to the eddy-current testing market analysis, the conventional eddy current testing segment was the highest contributor to the market in 2020. The manufacturing and oil & gas segments collectively accounted for around 49.2% market share in 2020. The surge in adoption of safety regulations across prime manufacturing and oil & gas sectors has led to the growth of the remote field-testing segment; thereby, enhancing the eddy-current testing market growth.
Competitive Analysis:
The company profile section of the Eddy-current Testing Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global Eddy-current Testing Market include,
• General Electric Company
• Ether NDE Limited
• Olympus Corporation
• Eddyfi NDT Inc
• Mistras Group Inc.
• Ashtead Technology Ltd.
• TUV Rheinland AG
• Ibg NDT System Corporation
• Fidgeon Limited
• Magnetic Analysis Corporation
Report Overview:
https://www.alliedmarketresearch.com/eddy-current-testing-market-A12139
According to Himanshu Jangra, Lead Analyst, Semiconductor and Electronics, at Allied Market Research, "The global eddy-current testing market share is expected to witness considerable growth, owing to surge in demand for digital entertainment solution paired with safety laws across emerging economies, especially in Asia-Pacific and LAMEA region, which is expected to drive the eddy-current testing market size."
Region-wise, North America holds a significant share in the global eddy current testing market, owing to the presence of prime players in this region. Further, the U.S. holds a dominating position in the eddy current testing market, owing to a rise in investment by prime players and government agencies to develop next-generation eddy current testing solutions.
Key Benefits For Stakeholders
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the eddy-current testing market analysis from 2020 to 2030 to identify the prevailing eddy-current testing market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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