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 grow at a 5.2% CAGR to 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. This segment currently accounts for a 75.4% share of the global Eddy Current NDT Equipment market.
The U. S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 8.5% CAGR for the Period of 2020-2027
The Eddy Current NDT Equipment market in the U. S. is estimated at US$95.4 Million in the year 2020. The country currently accounts for a 27.08% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$107.9 Million in the year 2027 trailing a CAGR of 8.5% through 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 while Rest of European market (as defined in the study) will reach US$107.9 Million by the year 2027.
Rotational Testing Equipment Segment Corners a 12.8% Share in 2020
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. The publisher brings years of research experience to this 6th edition of our report. The 385-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others
- 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.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Global Competitor Market Shares
Eddy Current NDT Equipment Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Eddy Current NDT Equipment Market Share (in %) by Company: 2019 & 2025
Market Facts & Figures
European Eddy Current NDT Equipment Market: Competitor Market Share Scenario (in %) for 2019 & 2025
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 46