A CAGR of 7% is expected of the global electromagnetic NDT market, due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 391.73 Mn by 2033, up from US$ 199.14 Mn in 2023.
The global electromagnetic NDT market is estimated to increase at a CAGR of 7% during the forecast period, owing to rising demand. It is expected to be valued at US$ 391.73 Mn by 2033, up from US$ 199.14 Mn in 2023.
Nondestructive testing (NDT) is the process of inspecting materials, components and assemblies in order to find discontinuities or differences in their characteristics without damaging the particular system. NDT testing through electric currents or magnetic fields or both to observe the electromagnetic response is termed as Electromagnetic NDT.
he basic principle of working for Electromagnetic NDT is induction of an electric current or magnetic field into a conductive part, after which the response of the material with respect to the induced current is evaluated. These techniques are widely used to detect and measure faults, thickness, electrical conductivity, bond or weld integrity and also to perceive the presence of rebar or metals.
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Stringent government regulations regarding safety and environmental issues are currently driving the market for Electromagnetic NDT. Increasing demand for NDT from the verticals such as industrial, oil & gas, automotive and aerospace, mainly for investigating the integrity of equipment and assets, are further strengthening the market growth.
Market Overview
NDT differs from the other destructive testing techniques. It is used on most of the materials, components and assemblies which are used during operations, as against destructive testing, which has its application limited to few systems. Destructive tests are generally utilized for examining the physical characteristics of materials such as ductility, tensile strength, yield, impact resistance, fracture toughness and fatigue strength.
On the other hand, NDT are used for discontinuities and differences in material properties, which cannot be effectively traced using destructive testing.
Market Dynamics
Improved sensitivity to small cracks, efficient detection of surface and near surface defects, requirement of minimum part preparation are few of the significant factors driving the growth of Electromagnetic NDT market. Additionally, Electromagnetic NDT enables inspection of complex shapes and sizes of conductive materials, further propelling the adoption of these techniques in the various industry verticals.
However, the Electromagnetic NDT market growth is restrained by the high cost of equipment (which are used at several stages of testing) and lack of skilled technicians. Additionally, technical limitations encountered during Electromagnetic NDT have compelled the industry to look out for the alternatives, in turn restraining the market growth.
Some of these limitations include accurate inspection of conductive materials only, significant interference of surface finish, limited depth of penetration, and mandatory requirement of roughness reference standards for setup.
Growing demand of ensuring product reliability, maintain a uniform quality level and lower production costs, during manufacturing and fabrication stages, across various industries is expected to drive the growth of the Electromagnetic NDT market during the forecast period.
Additionally, technological advances in the field of electromagnetism and related NDT techniques have increased its deployment in in complex industry operations. For instance, Electromagnetic NDT are being readily used in the inspection of reactor vessels of nuclear power plants, which earlier utilized ultrasonic techniques.
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Key Market Players
Key players in the industry include General Electric, Olympus Corporation, NDT Technologies, Institut Dr. Foerster GmbH & Co. KG, Zetec Inc., Magnetic Analysis Corporation and Eddyfi.
The report covers exhaustive analysis on
Regional analysis for Electromagnetic NDT Market includes development of these systems in the following regions
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Electromagnetic Ndt Market Segmentation
Electromagnetic NDT market is mainly classified on the basis of type and geography.
On the basis of type, Electromagnetic NDT is segmented as:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Dec 19, 2022
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