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Eddy Current NDT Equipment - Global Market Trajectory & Analytics

  • ID: 5029917
  • Report
  • April 2021
  • Region: Global
  • 385 Pages
  • Global Industry Analysts, Inc
Global Eddy Current NDT Equipment Market to Reach $513.8 Million by 2027

Amid the COVID-19 crisis, the global market for Eddy Current NDT Equipment estimated at US$352.3 Million in the year 2020, is projected to reach a revised size of US$513.8 Million by 2027, growing at a CAGR of 5.5% over the analysis period 2020-2027. Inline Testing Equipment, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$19.8 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Offline Testing Equipment segment is readjusted to a revised 5.8% CAGR for the next 7-year period.



The U.S. Market is Estimated at $95.4 Million, While China is Forecast to Grow at 8.5% CAGR

The Eddy Current NDT Equipment market in the U.S. is estimated at US$95.4 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$107.9 Million by the year 2027 trailing a CAGR of 8.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Rotational Testing Equipment Segment to Record 4.7% CAGR

In the global Rotational Testing Equipment segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$34.2 Million in the year 2020 will reach a projected size of US$45.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$68.9 Million by the year 2027, while Latin America will expand at a 5.7% CAGR through the analysis period.

Select Competitors (Total 46 Featured):
  • Ashtead Technology Ltd.
  • Criterion NDT, Inc.
  • Eddyfi NDT Inc.
  • Ether NDE Ltd
  • Fischer Technology Inc.
  • Foerster Holding GmbH
  • General Electric Company
  • ibg NDT Systems Corporation
  • IMG ULTRASUONI Srl
  • Magnetic Analysis Corporation Inc.
  • Olympus Corporation
  • Rohmann GmbH
  • Thermo Fisher Scientific, Inc.
  • UniWest Corporation
  • Zetec Inc.
Frequently Asked Questions about the Global Market for Eddy Current NDT Equipment

What is the estimated value of the Global Market for Eddy Current NDT Equipment?

The Global Market for Eddy Current NDT Equipment was estimated to be valued at $352.3 Million in 2020.

What is the growth rate of the Global Market for Eddy Current NDT Equipment?

The growth rate of the Global Market for Eddy Current NDT Equipment is 5.5%, with an estimated value of $513.8 Million by 2027.

What is the forecasted size of the Global Market for Eddy Current NDT Equipment?

The Global Market for Eddy Current NDT Equipment is estimated to be worth $513.8 Million by 2027.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • Impact of Covid-19 and a Looming Global Recession

III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 46
Note: Product cover images may vary from those shown