Eddy Current NDT Equipment Market is estimated to be valued at US$ 324.6 Mn in 2018 and is forecasted to reach a valuation of US$ 537.9 Mn in 2026, exhibiting a CAGR of 6.5% during the period of forecast 2018-2026.
Introduction to Eddy Current NDT Equipment Market
Non-destructive testing methods are employed in various end use industries associated with metals and welds. The main purpose is to estimate the properties of the materials without damaging them. Eddy Current NDT (Non-Destructive Testing) is one among the various methods used to detect flaws or change in the properties of the materials with the help of eddy current induced in the probe that penetrates into the conductive surface of the test material and shows deflection in the equipment in case of any flaw or crack.
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Research Methodology
Persistence Market Research utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
Data Collection
Persistence Market Research collects data from secondary sources including company annual reports_bk_01_01_2020, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
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Data Validation
In this phase, Persistence Market Research validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports_bk_01_01_2020, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Standard Report Structure
Executive Summary
Market Definition
Macro-economic analysis
Parent Market Analysis
Market Overview
Forecast Factors
Segmental Analysis and Forecast
Regional Analysis
Competition Analysis
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