The global eddy current testing market is forecasted to reach a value of US$ 2.6 billion by the year 2032. This market is anticipated to experience consistent growth, with a CAGR of 8.3% from 2022 to 2032. To put things in perspective, in 2022, the global market for eddy current testing was valued at US$ 1.1 billion.
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 the Eddy Current Testing Market Report:
- 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.
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.
Leading Key Players:
- Ashtead Technology Ltd
- Eddyfi NDT Inc.
- ETher NDE Ltd
- Fidgeon Ltd
- General Electric Company
- ibg NDT System Corporation
- Magnetic Analysis Corporation
- MISTRAS Group Inc.
- Olympus Corporation
- TÜV Rheinland Inc.
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Eddy Current Testing Market Segmentation:
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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