Global Eddy Current Testing Solutions Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio
According to the latest market study released by Technavio,
the global
eddy current testing solutions market is projected to
grow to USD 1.53 billion by 2021, at a CAGR of more than 10% over the
forecast period.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170524006002/en/
Technavio has published a new report on the global eddy current testing solutions market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global
Eddy Current Testing Solutions Market 2017-2021’ provides an
in-depth analysis of the market in terms of revenue and emerging market
trends. This market research report also includes up to date analysis
and forecasts for various market segments and all geographical regions.
Eddy current testing is a technique that is used to detect flaws,
conductivity, and corrosion on the surface of the conductive material
from the workpiece. The global eddy current testing solutions market is
segmented on techniques such as pulsed, array, and conventional testing.
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.
Based on the end-users, the report categorizes the global eddy current
testing solutions market into the following segments:
-
Oil and gas, and mining industries
-
Manufacturing industry
-
Power generation industry
-
Aerospace industry
-
Others
The top three revenue-generating end-user segments in the global eddy
current testing solutions market are discussed below:
Oil and gas, and mining industries
“Eddy current testing solutions have applications in heat
exchanger tubes and pipelines in petrochemical and refinery industries.
These industries, in turn, form integral parts of process industries
such as oil and gas, and mining,” says Raghav Bharadwaj
Shivaswamy, a lead analyst at Technavio for automation
research.
The exploration of new oil and gas fields in African countries and
increased investments in pipelines in the Americas, the Middle East, and
APAC are further expected to boost the market growth. The requirement
for eddy current testing solutions in the oil and gas industry will
increase in sync with the expansion in offshore and shale-related
exploration activities.
Manufacturing industry
The global eddy current testing solutions market by the manufacturing
industry includes automotive, metal fabrication, shipbuilding, and
transportation sectors. The high demand for eddy current testing in the
automotive and metal fabrication applications will provide a major boost
to the market from this sector.
The increasing use of eddy current testing solutions to inspect crane
bearings and drive systems in the manufacturing industry will also
provide significant growth opportunities for the vendors. The
availability of low-cost inspection tools and equipment and the presence
of affordable workforce has made APAC an established hub for
manufacturing, which is a key driver for the eddy current testing market.
Power generation industry
“The power generation industry is expected to be the
fastest-growing segment of the eddy current testing solutions market,
driven by the ever-increasing consumption of electricity worldwide and
rising investments towards the development of advanced technologies and
equipment to scale up production capacities,” says Raghav.
The power generation industry is inclusive of nuclear power plants,
solar power, wind power, and fossil fuel power industries. Eddy current
testing solutions empower end-users in this industry with high
efficiency, better control, and faster inspection services. Increasing
renewable power generation investments have also fueled the growth of
eddy current testing solutions market.
The top vendors highlighted by Technavio’s research analysts in this
report are:
Browse Related Reports:
Become a Technavio
Insights member and access all three of these reports for a
fraction of their original cost. As a Technavio Insights member, you
will have immediate access to new reports as they’re published in
addition to all 6,000+ existing reports covering segments like robotics.
This subscription nets you thousands in savings, while staying connected
to Technavio’s constant transforming research library, helping you make
informed business decisions more efficiently.
About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
resellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170524006002/en/
Copyright Business Wire 2017