Eddy Current NDT Equipment Market

Eddy Current NDT Equipment Market Outlook (2024 to 2034)

Expanding at a CAGR of 6.1%, the global eddy current NDT equipment market is projected to increase from a valuation of US$ 589.4 million in 2024 to US$ 1.06 billion by 2034, as stated in the Fact.MR report.

When assessing the material qualities and structural integrity of several parts and equipment without causing damage, NDT and inspection techniques are essential. These methods are essential quality control checks that are used during the production process. These procedures enable the early detection of surface and subsurface flaws in completed goods as well as ongoing projects (WIP). Additionally, they play a crucial role in locating flaws and guaranteeing fundamental dependability throughout public and industrial infrastructure, including buildings, bridges, factory pipelines, railroad tracks, and equipment.

NDT and inspection techniques include a variety of strategies designed for particular uses, enabling accurate fault identification and numerical assessment. These methods help in the proper inspection and detection of faults. Methods including Eddy-Current Testing (ECT), Liquid Penetrant Testing (LPT), Magnetic Particle Testing (MPT), and Visual Testing (VT) are a few of the recent innovations happening to increase the efficiency of the product. The three most important types of testing are radiographic (RT), acoustic emission (AET), and ultrasonic (UT).

Report Attribute	Detail
Eddy Current NDT Equipment Market Size (2024E)	US$ 589.4 Million
Forecasted Market Value (2034F)	US$ 1.06 Billion
Global Market Growth Rate (2024 to 2034)	6.1% CAGR
East Asia Market Value (2034F)	US$ 364.4 Million
North America Market Share (2034F)	27.7%
Inline Segment Value (2034F)	US$ 457.1 Million
United States Market Value (2034F)	US$ 234.9 Million
Key Companies Profiled	Rohmann GmbH; Thermo Fisher Scientific, Inc.; UniWest Corporation; Zetec Inc.; Fischer Technology Inc.; Foerster Holding GmbH; General Electric Company; ibg NDT Systems Corporation; IMG ULTRASUONI Srl; Magnetic Analysis Corporation Inc.; Olympus Corporation; Ashtead Technology Ltd.; Criterion NDT, Inc.; Eddyfi NDT Inc.; Ether NDE Ltd.; Fischer Technology Inc.; Foerster Holding GmbH; General Electric Company.

How are the Profits for Eddy Current NDT Equipment Manufacturers Steadily Rising?

“Old Infrastructure Requiring Repair and Maintenance Enhancing Market Condition”

The aging of infrastructures and the rising need for maintenance in places, such as North America and Western Europe are the key factors driving the need for NDT and inspection tools and services. Building new infrastructure by tearing down the old one requires a large financial outlay as well as time commitments. As a result, to prolong the operational life of existing aging infrastructures, frequent health monitoring examinations are preferred. Non-destructive testing (NDT) and non-destructive evaluation (NDE) methods are essential for minimizing damage to aging assets as they reduce the chance of unexpected and early failures and provide correct data during inspections.

Information on structural performance characteristics, such as displacements, strains, and stresses, is gathered using these NDT and assessment techniques. The data is subsequently analyzed with sophisticated post-processing technologies, which enable the determination of the structures' remaining life and operating status. This procedure relies heavily on methods, including infrared thermography (IRT), digital image correlation (DIC), ultrasonics (UT), and acoustic emission (AE).

Because they are getting older, several industries need inspections, including oil and gas facilities and infrastructure parts, such as buildings, bridges, and power plant structures. The NDT and inspection industry is growing globally in part because of the continuous inspection and health monitoring of steel and concrete structures.

“Growing Power Generation Sector Driving Eddy Current NDT Equipment Market Growth”

Increased use of NDT and inspection services is due to the projected expansion of the worldwide power generation sector. When it comes to examining pressure systems, steam, gas turbines, and other parts of nuclear power plants including rods, waste containers, tiny valves, and waste management infrastructure, NDT methods are essential. The NDT and inspection industry has a strategic chance to grow as a result of this trend.

Large-scale infrastructure development projects are taking place in potentially high growth countries, such as China, India, and Mexico, with a particular focus on electricity production facilities. The US Department of Energy projects that by 2040, global energy consumption will have increased by around 56%. It is anticipated that China and India will account for around 50% of the world's energy consumption.

“Government Using Nuclear Power Plants to Make Energy”

The proliferation of nuclear power plants and the increasing need for machinery in power-generating facilities present profitable opportunities for suppliers of non-destructive testing (NDT) and inspection tools and services customized for the power generation industry.

Non-destructive testing (NDT) and inspection procedures provide safe and thorough testing of essential components in nuclear power reactors without compromising the existing equipment. Given the trend toward the use of renewable energy sources for power generation on a worldwide scale, this change presents a significant potential for the NDT and inspection industry growth, subsequently leading to increasing eddy current NDT equipment market size.

What is Responsible for Declining Profit of NDT Equipment Manufacturers?

“High Expenses Related to NDT Equipment Holding Sales Opportunities”

The market's growth is hampered by the high costs associated with nondestructive testing (NDT) equipment and cutting-edge technologies like computed tomography, radiography, and infrared thermography. Several undeveloped and disadvantaged countries are not able to afford the high expenses of these advanced instruments, which is restricting their capacity to use NDT technology. This cost barrier leads to a decrease in the adoption rates of equipment by reducing the use of NDT equipment in certain regions.

“Lack of Skilled Professional to Work with Complex NDT Equipment”

Complex industry equipment includes circuit boards, heat exchangers, circuit boards, pipelines, lithium-ion batteries, turbomachinery in liquid-fuel rockets, oil and gas, packaging, maritime, and power production. Over their lives, these operational assets-which are essential to production cycles-struggle with varied degrees of wear and strain.

Complexity is increased by the use of carbon fiber-reinforced plastic (CFRP) in aerospace and automotive applications, where integrated components are bonded and cured using sophisticated techniques to form a single CFRP structure. It is now essential to use scan plans, inspection procedures, and extremely advanced NDT equipment to guarantee the dependability and safety of industrial equipment.

To analyze components, materials, and products and identify both intrinsic flaws (such as fractures or cracks) and service-induced faults brought on by usage, NDT and inspection technologies are essential. To maintain strict quality requirements and ensure inspection of smaller items, such as circuit boards, needs the knowledge of highly qualified specialists.

More importantly, complex programming is required for the analysis of examined data, necessitating the writing of codes by qualified software developers. Thereby, the growing complexity of several industrial equipment presents issues for the whole NDT and inspection process.

Country-wise Analysis

Expanding urban cities are contributing to the expansion of the construction industry on a global level. Several major countries contributing to this market include the United States, China, Canada, Mexico, and South Korea. China in East Asia is forecasted to hold a strong eddy current NDT equipment market share in the coming 10 years.

Which Components are Considerably Increasing Sales Revenue in the United States?

“Presence of Heavy Equipment Industries Enticing Sales Opportunities”

Attribute	United States
Market Value (2024E)	US$ 141 Million
Growth Rate (2024 to 2034)	5.2% CAGR
Projected Value (2034F)	US$ 234.9 Million

The existence of heavy equipment industries is a major factor driving the growth of the Non-Destructive Testing (NDT) equipment market in the United States. The manufacturing, oil and gas, aerospace, and automotive sectors are all generating significant sales prospects for NDT equipment vendors. As these industries place a higher priority on asset integrity, safety, and quality control, the need for NDT equipment is growing. To find defects and guarantee structural integrity without causing harm to the materials or components being tested, advanced nondestructive testing (NDT) methods including radiography, eddy current testing, and ultrasonic testing are becoming indispensable.

What is Steadily Leading to Rising Sales of NDT Equipment in China?

“Large Population Requiring Strong Infrastructure Base with Solid Strength”

Attribute	China
Market Value (2024E)	US$ 82 Million
Growth Rate (2024 to 2034)	7.4% CAGR
Projected Value (2034F)	US$ 168 Million

Sales of non-destructive testing (NDT) equipment are steadily increasing in China, mainly due to the country's large population and need for reliable infrastructure. China, the most populated country in East Asia, needs a vast network of utilities, buildings, and transportation to sustain its people and expanding economy.

For the safety and lifespan of this enormous infrastructure base, routine inspections and maintenance are required. To inspect materials and buildings without inflicting harm, specialists need to use NDT equipment, which is a critical component of this procedure. To identify defects, evaluate structural soundness, and avert possible catastrophes in everything from power plants and skyscrapers to bridges and railroads, technology is needed.

Category-wise Evaluation

Manufacturers and suppliers in the market are launching a variety of products to make sure the testing of machineries are top notch. Several prominent equipment types available in the market are inline, offline, rotational, and full-body.

Which Equipment is Widely Becoming Popular in the Global Market?

“Offline NDT Equipment are More Frequently Used by End-Use Industries Globally”

Attribute	Offline
Segment Value (2024E)	US$ 135 Million
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 201.4 Million

Offline NDT equipment has been gaining significant popularity in the end market due to its widespread usage. It is more frequently employed by several industries and professionals due to its effectiveness and reliability. Its capability to perform non-destructive testing on materials and components without disrupting operations has made it a preferred choice in the marketplace. Offline NDT equipment offers a versatile and accurate solution for conducting inspections, ensuring structural integrity, and identifying flaws in several industrial applications, as a result, it is becoming a new eddy current NDT equipment market trend.

For Which Application NDT Equipment is Primarily Used?

“NDT Equipment More Commonly Used in Detection Purposes”

Attribute	Detection
Segment Value (2024E)	US$ 228.1 Million
Growth Rate (2024 to 2034)	6.6% CAGR
Projected Value (2034F)	US$ 430.5 Million

NDT equipment is primarily utilized for detection purposes across a wide range of industries and applications. The non-destructive testing (NDT) equipment is commonly employed to inspect and evaluate the integrity of materials, components, and structures without causing damage. Industries such as aerospace, manufacturing, construction, oil and gas, automotive, and more rely on NDT equipment for detecting defects, irregularities, cracks, and flaws in critical assets. The use of NDT equipment helps in ensuring the safety, reliability, and quality of infrastructure, products, and materials.

Market Landscape

Key players in the eddy current NDT equipment market are primarily focusing on advancing with new tools and types of machinery including:

• Three new variants of Nikon Metrology NV's VOXLS 30 Series of X-ray CT (computed tomography) equipment for non-destructive inspection were introduced in November 2023. The 30 C 225, 30 C 320, and 30 C 450 variants of VOXLS are now offered.
• Eddyfi Technologies, a leader in cutting-edge robotic systems, was proud in October 2023. The company launched the ground-breaking VersaTrax line of automated inspection crawlers. These
  Robots with adaptability are poised to revolutionize industrial inspections by offering accuracy, versatility, as well as security in challenging settings.

Fact.MR provides detailed information about the price points of key manufacturers of eddy current NDT equipment positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Eddy Current NDT Equipment Market Research

• By Equipment Type :

  • Inline
  • Offline
  • Rotational
  • Full-Body

• By Technology :

  • Single Frequency
  • Array Scanning
  • Multi-Frequency
  • Pulsed Eddy Current

• By Application :

  • Measurements
    • Non-Conductive Coating Thickness
    • Metal Thickness
  • Detections
    • Corrosion
    • Flaw & Crack
  • Testing & Inspection
    • Hardness Testing
    • Conductivity Testing
    • Weld Inspection
    • Surface Inspection
    • Bolt Hole & Tubing Inspection

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa