Eddy Current Testing Market Size, Share, Growth Report 2032

Eddy Current Testing Market Size

The global eddy current testing market size was worth around USD 372.34 million in 2023 and is predicted to grow to around USD 613.22 million by 2032 with a compound annual growth rate (CAGR) of roughly 5.7% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million). The report covers a forecast and an analysis of the eddy current testing market on a global and regional level.

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Global Eddy Current Testing Market: Overview

A technique of testing that uses the concept of electromagnetism is known as eddy current testing or ECT. This non-destructive testing characterizes the surface and detects the sub-surface flaws in the materials that are conductive. The important applications of eddy current testing include surface inspection and tubing inspection. It helps in detecting the tight cracks in the different surfaces. The inspection can be done on both ferromagnetic and non-ferromagnetic materials. 

Global Eddy Current Testing Market: Growth Factors

The major factor that is driving the eddy current testing (ECT) market is the technological advancements that are made in the eddy testing methods. The developments made in these techniques are encouraging the customers to adopt this technology. The supporting government regulations and the rising development of the infrastructure are also contributing to the market growth. The manufacturing segment is the dominating segment in the end-user industrial category. The policy by the government regarding safety awareness is also likely to drive the market growth in the coming years. The increasing demand for the consumer durable goods and electronic equipment is driving the eddy current testing market. As ECT is electrical in nature its usage is limited to the conductive materials thus affecting the market growth.

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Global Eddy Current Testing Market: Segmentation

The eddy current market is globally segmented into its techniques, service, vertical, and regions.

On the basis of technique, the global market is segregated into conventional eddy current testing, alternating current field measurement, pulsed eddy current testing, near-field array, remote field testing, eddy current array, near-field testing, and partial saturation eddy current.

Based on the service, the market is categorized into equipment rental services, training services, inspection services, and calibration services.

Based on the verticals, the market is divided into oil & gas, government infrastructure & public safety, power generation, manufacturing, aerospace, automotive, and others.

Eddy Current Testing Market: Report Scope

Global Eddy Current Testing Market: Regional Analysis

Region-wise, the eddy testing market is diversified into North America, Asia-Pacific, Europe, and Rest of the World. The region that holds the largest market share in the global eddy current testing market is the North America. The oil and gas industry holds the major share in the North American market. The other sector that is contributing to the market growth is the power generation industry in this region. Europe and Asia Pacific holds a substantial market share in the global eddy current testing market. The increasing demand for the consumer goods in the Asia Pacific region is contributing to the market growth. The Latin American eddy current testing market is growing owing to the rise in the demand for the consumer electronics.

Global Eddy Current Testing Market: Competitive Players

The major market players in the eddy current testing market

• General Electric Company
• Ashtead Technology Ltd.
• Eddyfi NDT Inc.
• Zetec Inc.
• IBG NDT System Corporation
• Magnetic Analysis Corporation Inc.
• Olympus Corporation
• Mistras Group Inc.
• Ether NDE Limited
• TUV Rheinland AG
• Fidgeon Limited

The Global Eddy Current Testing Market is segmented as follows:

By Technique 

• Conventional Eddy Current Testing
• Alternating Current Field Measurement
• Pulsed Eddy Current Testing
• Near-Field Array
• Remote Field Testing
• Eddy Current Array
• Near-Field Testing
• Partial Saturation Eddy Current

By Service 

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

By Verticals 

• Oil & Gas
• Government Infrastructure & Public Safety
• Power Generation
• Manufacturing
• Aerospace
• Automotive
• Others

Global Eddy Current Testing Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.