Eddy Current Testing Market Size

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.