Under Industry 4.0, which implies the fourth industrial revolution, the concept of automation of factories is mooted in such a manner that the production continues even without any kind of human intervention.
Albany, NY -- (SBWIRE) -- 06/14/2018 -- To Understand the Eddy Current NDT Equipment Market Industry Status worldwide, MRRSE has included the latest Forecast report titled "Global Eddy Current NDT Equipment Sales Market Size, Trends, Overview, Demand, and Analysis, Future & Forecast Until 2026", to its vast database. This study offers data about the prime regions operating in the Eddy Current NDT Equipment Market, along with their production, consumption, revenue and market share details. Further, the intelligent report also anticipates that the market would grow at a constructive CAGR until 2026.
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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.
MRRSE 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.
MRRSE Market Research collects data from secondary sources including company annual reports, 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.
In this phase, MRRSE 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.
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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, 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
Parent Market Analysis
Segmental Analysis and Forecast
Subject Matter Experts
Key Questions Answered
How the market has performed over the past few years?
What have been the challenges for market participants and how did they overcome them?
How has the technology landscape evolved over the past years?
How the competitors have performed and what have been their growth strategies?
What is the market potential expected to look like in near future across the globe?
How to sustain and grow market share?
What should be the future course of action?
Where do I currently stand?
Which are the segments, factors, regions offering promising growth potential?
What are the trends in the market and am I ready for them?
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A key trend which is impacting the eddy current NDT equipment market has been the progressive shift in demand for NDT equipment and systems from the developed regions of Western Europe and North America, to the developing markets of Eastern Europe and Asia Pacific. With the drive to reduce cost, as well as to expand their scope to newer markets due to near saturation like trends in the existing markets, a number of manufacturing and service industries are moving towards newer technologies. With the promise of infrastructure development, rapid technology adoption, focus on quality, lucrative domestic market and a large pool of workforce, these markets offer strong opportunities for manufacturers. The dealers of NDT equipment are constantly investing in these developing markets by investing money, or building their dealership network as they sense a tremendous opportunity being offered by such developing markets.
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