NEWARK, Del, March 29, 2023 (GLOBE NEWSWIRE) -- It is expected that size of the global market for eddy current testing would be US$ 2.6 billion by 2032. It is anticipated to increase steadily between 2022 and 2032 at a CAGR of 8.3%. The Eddy Current Testing Market was worth US$ 1.1 billion in 2022.
When doing eddy current testing, a specifically created coil that is controlled by a current that flows is brought close to the testing area. It helps to create a fluctuating magnetic field that interacts with a particular sample. Eddy current measurements are also produced as a result.
Eddy current testing is the basis for the physics phenomenon known as electromagnetism. An alternating current passing through a wire coil creates an oscillating magnetic field in an eddy current sensor.
When a magnet and its magnetosphere are brought close to an electrical conductor, eddy currents, or the moving round electrons, begin to flow through the metal. It resembles a test piece made of metal.
The eddy current in the metal would combine with the magnetic field of a coil. Via mutual inductance, it would generate its own magnetic field.
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A knowledgeable user can map fluctuations in resistivity loudly using eddy current equipment. In seeking out changes in the substance that is to be measured, phase differences can also be used. The global market is expected to rise as new eddy current testing methods are invented.
Average penetration is defined as the point where the eddy flow rate is 37% of the surface value. The test frequency, polarizability, and conductivity of test samples can all be used to calculate this depth.
Changes in the conductivity of test materials might have an impact on precision, test receptivity, and solubility. It can also be influenced by the coil's design, velocity of the AC impulses driving the circuit, and the material's magnetic permeability.
High standards for substance, design, and durability are required by the global aircraft industry. Numerous fatal occurrences and grave injuries can result from smoothness, roughness, and crevice breakdowns.
Key Takeaways from Eddy Current Testing Market Study:
- North America eddy current testing market stood at US$ 434.4 million in 2021.
- The USA eddy current testing market size is expected to be worth US$ 821.5 million by 2032.
- The United Kingdom eddy current testing market is likely to broaden at a CAGR of 5% in the forecast period.
- China eddy current testing industry is likely to be worth US$ 212.1 million in 2032.
- By technique, the remote field testing segment exhibited growth at a CAGR of 0% from 2017 to 2021.
“In the oil & gas business, eddy current testing is frequently used for safety inspections and to find flaws on surfaces & tubes. These flaws could result in tragic accidents and stop the entire production process. Hence, it is anticipated that demand for eddy current testing will increase as oil production surges worldwide.” – Says a lead analyst.
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Competitive Landscape: Eddy Current Testing Market
To develop novel solutions, leading businesses in the worldwide eddy current testing market are concentrating on research and development operations. Other businesses are forming alliances, mergers, and acquisitions with regional small businesses. They are doing so to increase their geographic presence and jointly develop novel solutions.
For instance,
- In June 2021, ETher NDE announced the launch of ETi-300n. It was developed to improve the end-to-end workflow of inspection. It is an eddy current equipment that was developed to inspect the non-ferrous tubing from an inner diameter and deliver accurate inspection results.
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Eddy Current Testing Market Outlook by Category
By Technique:
- Altering Current Field Measurement
- Eddy Current Array
- Conventional Eddy Current Testing
- Remote Field Testing
- Others
By Service:
- Inspection Services
- Equipment Rental Services
- Calibration Services
- Training Services
By Industry Verticals:
- Manufacturing
- Oil & Gas
- Automotive
- Power Generation
- Government Infrastructure & Public Safety
Table of Content
1. Executive Summary | Eddy Current Testing Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ billion) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ billion) Projections, 2022 to 2032
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