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Global Eddy Current Testing Market to Reach $1.68 Billion by 2022

MarketsandMarkets, August 22, 2016

According to the report "Eddy Current Testing Market by Type (Conventional Eddy Current, ACFM, RFT, Eddy Current Array, Pulsed Eddy Current, Near-Field Testing, Near-Field Array, Partial Saturation Eddy Current), Service, Vertical, and Geography - Global Forecast to 2022," recently released by MarketsandMarkets, the global Eddy Current Testing (ECT) market is expected to grow from USD $866 million (2015) to USD $1.68 billion by 2022. The report provides a detailed analysis of eddy current testing market based on type, service, vertical, and geography. The market within this study has been classified on the basis of ECT types into conventional eddy current, remote field testing, eddy current array, alternating current field measurement, pulsed eddy current testing, near-field testing, near-field array, and partial saturation eddy current. The application in the oil & gas vertical is expected to hold the largest market share between 2016 and 2022. The demand for testing in this sector is largely driven by various governments’ mandates for ensuring the safety of the environment by avoiding pipeline leakages, oil spills, and other accidents. The market in the Asia-Pacific Region is estimated to grow at the highest rate during the forecast period. The demand for eddy current testing in this region is expected to be driven by increasing number of power plants, since ECT is used to inspect the heat exchangers, tanks, and other equipment which are key part of power plants operations.

 

Click here to read the full article from MarketsandMarkets.


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