Business Industry

Electromagnetic NDT Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Press Release

The global Electromagnetic NDT market is segmented into type such as eddy current testing, alternating current field measurement (ACFM), remote field testing and others. Among these segments, eddy current testing is expected to grow at highest CAGR in overall global Electromagnetic NDT market during the forecast period. Factor such as, sorting alloys and verifying heat treatments is believed to impetus the growth of the eddy current testing segment over the forecast period.

Global Electromagnetic NDT market is expected to flourish at a significant CAGR over the forecast period. Factor such as, maintaining uniform quality level and lower production cost is anticipated to drive the growth of the global Electromagnetic market over the forecast period. Moreover, increase of electromagnetic NDT across various industries is expected to increase the overall market of Electromagnetic NDT in upcoming years.

Europe dominated the overall Electromagnetic NDT market and is expected to continue its control over the forecast period. Further, increasing demand of industrial scanners and transducer is expected to accelerate the growth of the market in the upcoming years which in turn is likely to propel the demand for Electromagnetic NDT. Furthermore, North America Electromagnetic NDT market is anticipated to witness robust growth during the forecast period. Further, rising growth of the automotive and aerospace sector in the region is anticipated to positively impact the growth of the global Electromagnetic NDT in North America.

Government Initiatives

Factor such as, rising government initiatives regarding safety is anticipated to robust the growth of the global Electromagnetic NDT market over the forecast period. Increase in demand of various electromagnetic testing solutions and advancement of technologies is expected to increase the overall market of Electromagnetic NDT over the forecast period.

Adoption of Techniques

In addition, Electromagnetic NDT is adopting new techniques such as inspection of complex shapes and sizes of conductive materials is anticipated to robust the growth of the global Electromagnetic NDT market over the forecast period. Further, improved function for efficient detection is a key factor which is expected to dominate the growth of global Electromagnetic NDT market in the upcoming years.

However, high cost of equipment and lack of skilled technicians is likely to limit the growth of global Electromagnetic NDT market over the forecast period.

The report titled Electromagnetic NDT Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluationdelivers detailed overview of the global Electromagnetic NDT market in terms of market segmentation by type and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global Electromagnetic NDT market which includes company profiling of General Electric, Olympus Corporation, NDT Technologies, Foerster Holding GmbH, Zetec Inc., Magnetic Analysis Corporation, Eddyfi, Ashtead Technologies and Mistras Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Electromagnetic NDT market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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