The Europe Eddy-current Testing Market would witness market growth of 9.4% CAGR during the forecast period (2022-2028).
It is common practice to use eddy current testing to detect defects and make measurements in a wide range of sectors. The most common application is when the fault is well understood. A probe design and test conditions must be developed with a thorough understanding of the problem to be identified, since the technique is often used to inspect a small region. Eddy currents can only be utilized to detect surface and near-surface flaws since they tend to concentrate at the material's surface. Furthermore, during the forecast period, the spike in outsourcing of services is expected to boost the eddy current testing market forward.
Eddy current is a useful tool for monitoring rusting and other degradation that causes material thinning. The method is used to measure corrosion thinning on airplane coverings and in the sidewalls of tubing used in heat exchanger systems. Paint and other coating thicknesses are also measured using eddy current testing. Eddy currents are influenced by materials' electrical conductivity and magnetic transparency. Materials can thus be sorted using eddy current measurements, and they can be identified if they have been subjected to high temperatures or heated, both of which alter their resistivity.
The European semiconductor sector is headquartered in Germany. Across the value chain, the country has an unrivaled concentration of world-leading device makers and providers for materials, components, and equipment. There are numerous and diverse investment options available, ranging from design and manufacturing to applications. Industrial electronics is Germany's second-largest microelectronics segment, responsible for nearly 24% of the nation's semiconductor industry. Strong growth rates, due to a broad domestic and foreign industrial base, have allowed Germany to maintain its dominance in technical advancement. Building technology, mechanization, and electronic payment systems have traditionally been the major segments.
In the coming years, the German power semiconductor market would provide a diversity of market opportunities. Switching to renewable energy sources by 2022 will necessitate a massive research effort and investment in high-performance power semiconductors, particularly metal oxide semiconductor field effect transistors (MOSFET) and insulated gate bipolar transistors (IGBT). IGBTs are creeping into MOSFET territory and progressively growing their market share because they are used in the high-voltage segment.
The Germany market dominated the Europe Eddy-current Testing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $123.1 million by 2028. The UK market is anticipated to grow at a CAGR of 8.5% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 10.2% during (2022 - 2028).
Based on Service, the market is segmented into Inspection Services, Equipment Rental Services, Training Services, and Caliberation Services. Based on Technique, the market is segmented into Conventional Eddy Current Testing, Eddy Current Array, Alternating Current Field Measurement, Remote Field Testing, and Others. Based on Industry, the market is segmented into Manufacturing, Automotive, Power Generation, Government Infrastructure & Public Safety, Oil & Gas, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Eddy-current Testing Market will Hit $1.8 Billion by 2028, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Olympus Corporation, Eddyfi Technologies, ETher NDE Ltd., Fidgeon Ltd., ibg NDT Systems Corporation, Magnetic Analysis Corporation, Mistras Group, Inc., TÜV Rheinland AG, Ashtead Group PLC, and Waygate Technologies.
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