Press release
Eddy Current NDT Equipment Market to Reach US$ 1.06 Billion by 2034, Expanding at 6.1% CAGR | Fact.MR Report
The detection segment, valued at US$ 228.1 million in 2024, leads with a 6.6% CAGR, while offline NDT equipment is widely used for its reliability. Challenges include high equipment costs and a lack of skilled professionals. East Asia, led by China (US$ 168 million by 2034), holds significant growth potential.
For More Insights into the Market, Request a Sample of This Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=10368
Market Analysis
The eddy current NDT equipment market is fueled by the need for non-invasive quality control to ensure structural integrity in aging infrastructure and critical industries. From 2019 to 2023, the market grew steadily, with demand rising due to infrastructure maintenance and power sector expansion. Short-term (2024-2027), growth is driven by increased adoption in construction and energy sectors. Medium-term (2027-2030), urbanization in emerging markets like China and India boosts demand. Long-term (2030-2034), nuclear power plant inspections and renewable energy trends will sustain growth. High costs of advanced NDT technologies and a shortage of skilled operators pose challenges, particularly in developing regions.
Segment Analysis
The market is segmented by equipment type, technology, application, and region. Offline NDT equipment (US$ 135 million in 2024, 4.1% CAGR) dominates due to its versatility and reliability in industries like aerospace and manufacturing. The detection segment (US$ 430.5 million by 2034) leads applications, focusing on flaw detection. Technologies like pulsed eddy current and multi-frequency systems are gaining traction for their precision. Inline equipment (US$ 457.1 million by 2034) is prominent in high-throughput industries. North America and East Asia lead regionally, with South Asia & Pacific showing high growth potential due to infrastructure development.
Country-wise Insights
The U.S. market, valued at US$ 141 million in 2024, grows at a 5.2% CAGR to reach US$ 234.9 million by 2034, driven by heavy equipment industries like aerospace and oil and gas. China, with a US$ 82 million market in 2024, expands at a 7.4% CAGR to US$ 168 million, fueled by its large population and infrastructure needs.
Japan's market grows at a 7.7% CAGR, supported by advanced manufacturing. Western Europe, including Germany and the UK, benefits from stringent quality standards. Emerging markets like India and Mexico show promise due to rapid industrialization.
Key Players
• Rohmann GmbH
• Thermo Fisher Scientific, Inc.
• UniWest Corporation
• Zetec Inc.
• Fischer Technology Inc.
• Foerster Holding GmbH
• General Electric Company
• ibg NDT Systems Corporation
• IMG ULTRASUONI Srl
• Magnetic Analysis Corporation Inc.
• Olympus Corporation
• Ashtead Technology Ltd.
• Criterion NDT, Inc.
• Eddyfi NDT Inc.
• Ether NDE Ltd.
Browse Full Report on:
https://www.factmr.com/report/eddy-current-ndt-equipment-market
Strategic Outlook and Industry Trends
Key players are innovating to meet industry demands. In November 2023, Nikon Metrology NV launched three new VOXLS 30 Series X-ray CT systems for enhanced non-destructive inspection. In October 2023, Eddyfi Technologies introduced the VersaTrax automated inspection crawlers, improving accuracy in challenging environments.
Companies are focusing on advanced technologies like pulsed eddy current and automated systems to enhance efficiency. The market is driven by aging infrastructure, power sector growth, and urbanization but faces challenges from high costs and a lack of skilled professionals. Expansion into emerging markets and technological advancements will drive growth through 2034.
Segmentation of Eddy Current NDT Equipment Market
By Equipment Type:
• Inline
• Offline
• Rotational
• Full-Body
By Technology:
• Single Frequency
• Array Scanning
• Multi-Frequency
• Pulsed Eddy Current
By Application:
• Measurements
- Non-Conductive Coating Thickness
- Metal Thickness
• Detections
Corrosion
Flaw
• Testing & Inspection
- Hardness Testing
- Conductivity Testing
- Weld Inspection
- Surface Inspection
- Bolt Hole & Tubing Inspection
By Region:
• North America
• Western Europe
• Eastern Europe
• Latin America
• East Asia
• South Asia & Pacific
• Middle East & Africa
Explore More Related Studies Published by Fact.MR Research
Current Transformer Market:
https://www.factmr.com/report/2620/current-transformer-market
Farm Equipment Rental Market:
https://www.factmr.com/report/farm-equipment-rental-market
Power Equipment Rental Market:
https://www.factmr.com/report/power-equipment-rental-market
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com
About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Eddy Current NDT Equipment Market to Reach US$ 1.06 Billion by 2034, Expanding at 6.1% CAGR | Fact.MR Report here
News-ID: 4105921 • Views: …
More Releases from Factmr
Baby Wipes Market to Hit USD 7.55 Billion by 2033 | Procter & Gamble, Kimberly-C …
The global baby wipes market size stands at US$ 5.1 billion in 2023 and is expected to reach US$ 7.55 billion by the end of 2033. Global demand for baby wipes has been predicted by Fact.MR to increase at a CAGR of 4% during the next 10 years.This steady growth is driven by increasing parental awareness of infant hygiene, rising disposable incomes, and a surge in demand for eco-friendly and…
Household Air Care Products Market to Hit USD 16.3 Billion by 2033 | Godrej AER, …
In 2023, global demand for household air care products is estimated at US$ 12.13 billion and is forecasted to reach US$ 16.3 billion by the end of 2033. The global household air care products market is projected to exhibit expansion at 3% CAGR over the forecast period (2023 to 2033).This steady growth is driven by rising air pollution concerns, increasing awareness of indoor hygiene, and a surge in demand for…
Baby Training Diaper Market Valued at US$ 54.57 billion by the end of 2033| Domt …
Global demand for baby training diapers currently stands at US$ 25.04 billion and is forecasted to reach a market size of US$ 54.57 billion by the end of 2033. The global baby training diaper market is pegged for expansion at a high-value 8.1% CAGR from 2023 to 2033.This strong growth is fueled by rising awareness of toddler health, increasing global population, and evolving consumer preferences for convenient childcare products. The…
Baby Cloth Diaper Market to Hit USD 9.83 Billion by 2033 | Procter & Gamble, Kim …
The global baby cloth diaper market is estimated at US$ 5.98 billion in 2023. Worldwide demand for baby cloth diapers is forecasted to rise at 5.1% CAGR and reach a market value of US$ 9.83 billion by the end of 2033.This growth is fueled by rising environmental awareness, increasing preference for reusable and cost-effective diapering solutions, and government initiatives promoting sustainable baby care products. The shift from disposable diapers to…
More Releases for NDT
Seamless Digital RT Workflow with DRIVE NDT and D-Tect X from DÜRR NDT
For an optimal digital workflow in radiographic testing (RT), the X-ray inspection software D-Tect X can be integrated with the NDT management software DRIVE NDT. The closely meshed interaction between DRIVE NDT and D-Tect X means that a large part of the process takes place automatically. This not only saves time, but the automatic exchange of data also minimizes the possibility of human error. As all the steps and processes…
Rapid CUI Inspection with the DRA 3543 NDT Flat Panel Detector from DÜRR NDT
NDE Solutions Pty Ltd, located in Adelaide, South Australia with a team of over 60 employees provides non-destructive testing and inspection solutions to the oil and gas, defence, power, and mining industries.
NDE Solutions has been using the DÜRR NDT DRA 3543 digital flat panel since 2021 in combination with Iridium-192 radiation sources to perform Corrosion-Under-Insulation (CUI) radiography for confirming pipe wall loss in oil and gas plants and refineries. The…
DRIVE NDT enables DEKRA to increase its efficiency with digital NDT workflow man …
DEKRA has approximately 48,000 employees and ranks as one of the foremost testing companies worldwide. A pioneering team is introducing the innovative DRIVE NDT to organize non-destructive testing and its peripheral processes at the BAYERNOIL site in Neustadt.
Digital processes are firmly embedded in all industrial fields these days. The resulting advantages are clearly seen by all companies and industries and their potential is also increasingly recognized for non-destructive testing. Benjamin…
Corrosion-Under-Insulation Inspection Made Easy with the CR 35 NDT from DÜRR ND …
Stork Technical Services, located in Kwinana, Western Australia with a team of over 30 employees provides asset integrity and fabric maintenance services to the oil and gas, chemical, power and mining industries.
Stork Technical Services has been using the CR 35 NDT Computed Radiography scanner since 2019 and uses it with Iridium-192 in combination with high-sensitivity white imaging plates to perform Corrosion-Under-Insulation (CUI) radiography and digital gap shots which are…
Applus+ Entrusts DRIVE NDT with Digitization of NDT Workflow
Applus+ Germany is one of the largest providers of non-destructive testing (NDT) services in Germany and with more than 20,000 employees in over 70 countries is one of the largest companies in the industry worldwide.
In order to cement its leading position over the longer term, Applus+ is investing in future technologies. One of the key challenges of the future is the digitalization of all NDT processes. "A key promise is…
HD-CR 35 NDT from DÜRR NDT Increases Efficiency of Oil & Gas RT Inspection Task …
ENOD S.R.L is an NDT service company based in Buenos Aires, serving the energy sector in Argentina since August 1980.
ENOD is one of the largest service providers in Argentina, offering a wide range of inspection methods to fit their customers' needs. They have largely invested in the latest technologies to be one of the pioneers in their local market. A few years ago, they stepped into digital radiography to replace…
