DUBLIN, June 03, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/gw2sbq/north_america) has announced the addition of the "North America Electromagnetic NDT Market by Method, by Vertical, by Country - Trends & Forecast 2015-2020" report to their offering.
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.
The North American electromagnetic NDT market is expected to grow at a CAGR of 8.84% between 2015 and 2020. The electromagnetic NDT equipment present a huge scope in various industry verticals for increasing their operational efficiency and providing quality products. However, the major factor restraining the growth of the NDT equipment market is the high cost of equipment. Since the use of NDT inspection is not very frequent in the industries and requires specialized workforce to carry out the inspection, many industry players prefer to rent rather than buy the equipment.
The stringent government safety regulations and growing demand from the automotive and aerospace segments are the key factors driving the North American electromagnetic NDT equipment market. The development of infrastructure, increasing industrial development, and the strict regulations of the governments regarding safety and environmental issues are boosting the growth opportunities for the North American electromagnetic NDT market.
This report on the North American electromagnetic NDT equipment market covers various types of Non-Destructive Testing (NDT) inspection methods such as eddy-current testing (ECT), remote field testing (RFT), and alternating current field measurement (ACFM) testing, which are used by the industry verticals. The report also describes the industry trends, drivers, restraints, and opportunities of the magnetic & electromagnetic NDT market and forecasts the market to 2020, segmented on the basis of methods, verticals, and geography.
It covers the key verticals of the magnetic and electromagnetic NDT equipment market including the oil & gas, power generation, aerospace, automotive, foundries, process industries, and others (medical and healthcare, infrastructure, and mining). Among all the verticals, power generation is expected to be the largest contributor to the overall magnetic and electromagnetic NDT equipment market in North America. This vertical accounted for 24% of the market share and its market size is expected to reach $48.65 million by 2020, at a CAGR of 7.59% between 2015 and 2020. For this analysis, the Electromagnetic NDT Market has been segmented into countries such as the U.S., Mexico, and Canada.
The key players in the North American electromagnetic NDT equipment market included in the report are GE (U.S.), Olympus Corporation (Japan), Foerster (U.S.), Zetec, Inc. (U.S.), and Magnetic Analysis Corp. (U.S.), and others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 the North American Magnetic and Electromagnetic NDT Equipment Market, By Method
8 the North American Magnetic and Electromagnetic NDT Equipment Market, By Vertical
9 the North American Magnetic and Electromagnetic NDT Equipment Market, By Country
10 Competitive Landscape
11 Company Profiles
- Ashtead Technology
- Dr. Foerster GmbH & Co. KG
- General Electric Company
- Magnetic Analysis Corporation
- Mistras Group, Inc.
- Olympus Corporation
- Russell NDE Systems, Inc.
- TSC Inspection Systems
- United Western Technologies
- Zetec, Inc.
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SOURCE Research and Markets