North America Electromagnetic NDT Market by Method, by Vertical, by Country - Trends & Forecast to 2015 - 2020

Nov 10, 2015, 21:59 ET from ReportBuyer

LONDON, Nov. 10, 2015 /PRNewswire/ -- The North American electromagnetic NDT equipment market is expected to reach $223.76 million by 2020, at a CAGR of 8.84% between 2015 and 2020. This report covers the key verticals of the North American electromagnetic NDT equipment market including oil & gas, power generation, aerospace, automotive, foundries, process industries, and others (medical and healthcare, infrastructure, and mining). Of all the verticals, power generation is expected to be the largest contributor to the overall electromagnetic NDT equipment market in North America, accounting for 24% of the market share; its market size is expected to reach $48.65 million by 2020, at a CAGR of 7.59% between 2015 and 2020. However, its market share is projected to reduce during the forecast period, owing to the shutdown of coal power projects in the North American region, especially in Canada and the U.S.

The overall electromagnetic NDT equipment market in North America comprises different NDT methods, namely, eddy-current testing, remote field testing, magnetic flux leakage testing, and alternating current field measurement. The eddy-current testing method currently accounts for a major share of ~62% of the overall electromagnetic NDT equipment market in the North American region and it is expected to grow at a CAGR of 9.77% between 2015 and 2020. The major players in NDT equipment market include Olympus Corporation (Japan), GE Measurement & Control Solutions (U.S.), Ashtead Technology (U.K.), Zetec, Inc. (U.S.), and Eddyfi (Canada).

Scope of the report

The North American magnetic & electromagnetic NDT equipment market study covers various types of Non-Destructive Testing methods, used in various verticals, to arrive at the NDT market size during the forecast period. For this analysis, the North American magnetic & electromagnetic NDT equipment market is segmented into different countries, namely, the U.S., Mexico, and Canada.

By method

The North American electromagnetic NDT equipment market is segmented on the basis of various NDT methods, namely, eddy-current testing, remote field testing, magnetic flux leakage testing, and Alternating Current Field Measurement.

By vertical

The various industrial verticals considered in the analysis of the North American electromagnetic NDT equipment market size are oil & gas, power generation, aerospace, automotive, foundry, process industry, and others (medical and healthcare, infrastructure, and marine).

By geography

The North American magnetic & electromagnetic NDT equipment market has been classified on the basis of countries into the U.S., Canada, and Mexico. The purpose of this segmentation is to give a detailed country-wise analysis and to estimate the size of the overall North American electromagnetic NDT equipment market.

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