Eddy-current Testing Market size is expected to cross USD 3.6 Billion by the end of 2036, growing at a CAGR of 8.5% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of eddy-current testing was over USD 1.5 Billion. The industrial possibilities in BRICS and rising infrastructure development in emerging economies are anticipated to offer attractive potential for the growth of the eddy-current testing market. India has already made significant progress towards building national highways that connect all points for travelers, commerce, and freight. In 2014–15, India has a total of 97,830 km of national highways. By March 2023, that number would increase to 145,155 km. According to government figures, the country would see a 28.6 km increase in daily road construction from 12.1 km in 2014–15 to 12.6 km in 2021–22.
Additionally, the market of eddy-current testing industry is being driven by the rising demand for electronic equipment and durable consumer items. In India, the market for electrical equipment was estimated to be worth USD 50 billion in 2021. By 2025, it was predicted that this would increase to USD 72 billion, a rise over prior years.
Growth Drivers
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 8.5% |
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Base Year Market Size (2023) |
~ USD 1.5 Billion |
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Forecast Year Market Size (2036) |
~ USD 3.6 Billion |
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Regional Scope |
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Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services)
The calibration segment in the eddy-current testing market is anticipated to grow with about 39% revenue share, considering that it can detect any discrepancies and flaws in measurement tools and dimensional standards. During calibration, data that deviates from "normal" are found. The measurement device or method is then used to bring tolerances to acceptable limits.
Technique (Conventional Eddy-current Testing, Remote Field Testing, Alternating Current Field Measurement, Eddy-current Array)
The conventional eddy-current testing market attracted the biggest revenue share of approximately 42%.Steam generator tubes in nuclear reactors and heat exchanger tubing in the power and petrochemical sectors are inspected using conventional ECT. The method is quite sensitive to pit detection and size. Although sizing is imprecise, wall loss or corrosion can be detected. There were 436 nuclear reactors in use as of May 2023, spread across 32 different nations. At the time, the United States led the world with 93 operational nuclear power reactors. Those nuclear reactors that are wired into the grid are operational.
Our in-depth analysis of the global market includes the following segments:
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Technique |
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Service |
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Industry Verticals |
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North American Market Forecast
North America region is anticipated to grow at a significant CAGR with about 37% of the global eddy-current testing market share during the forecast period. In the oil and gas business, eddy-current testing is frequently used for safety inspections and to find flaws on surfaces and tubes in the region. Thus, the demand for eddy-current testing will increase as oil production increases regionally. With a daily production of 23.0 million barrels in 2021, North America will be a big oil producer globally. The average daily production of oil in 2020 was 23.5 million barrels.
European Market Statistics
Europe region is attributed to grow at a significant CAGR with about 23% market share. Since nuclear power plants are subject to stringent public safety requirements, eddy-current testing is widely used for the detection of defects in the region. Demand in the United Kingdom is anticipated to rise as eddy-current testing becomes more prevalent in nuclear power facilities. Around nine nuclear reactors are now in operation in the UK, while two more are being built. An important share of the nation's energy needs is met by nuclear energy.
Author Credits: Abhishek Verma
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