Industrial Radiography Market is Projected to Reach USD 0.93 Billion by 2032 at a CAGR of 7.20% from 2023 to 2032

Pune, India, July 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Industrial Radiography Market.

Market Highlights

Global Industrial Radiography Market is expected to register a CAGR of 7.20% during the forecast period of 2023–2032. There are various factors contributing to the growth of the global industrial radiography market such as increasing demand for improved and efficient productivity from the manufacturing units, increasing adoption of the testing technology by the automotive and aerospace & defense manufacturing companies for rectifying the defects and the flaws.  

Regional Analysis

The global industrial radiography market is estimated to grow at a significant rate in the future. The geographical analysis of the industrial radiography market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

North America accounted for the largest share in 2019 for the global industrial radiography market. North America is one of the developed regions having large-scale industries such as aerospace & defense, consumer electronics, food and beverages, oil & gas, and others which demands the requirement and production of defect-free products that are driving the market growth. Additionally, the presence of various companies in the region is also driving the growth of the market in the region.

Europe accounts for the second-largest market share in the industrial radiography market due to increasing regulations associated with the safety in the region. Additionally, Germany holds the largest share for the industrial radiography market in 2019 due to the presence of the automobile industry in the country and the high demand for defects of fewer products by the industry. France is expected to be the fastest-growing country in the region during the forecast period.

Asia-Pacific is expected to be the fastest-growing regional market during the forecast period; rising urbanization, technological advancements, and increasing investments by the manufacturing industries for enhancing their product quality. Similarly, the growing number of manufacturing facilities in the region is also fueling the growth of the market. China accounts for the largest market share in the region for the industrial radiography market due to increasing investments by the private and government sectors for the development of new and advanced technology for the manufacturing industries.

The rest of the world is expected to register a significant CAGR during the forecast period due to increasing investments made by the government and companies for the development of advanced technology in the region. Further, the region has been segmented into South America and the Middle East & Africa.

Key Players

MRFR recognizes the key players in the global industrial radiography market are General Electric Company (US), Fujifilm Holdings Corporation (Japan), Nikon Corporation (Japan), Shimadzu Corporation (Japan), Baker Hughes (US), Anritsu Corporation (Japan), Mettler-Toledo (US), PerkinElmer, Inc. (US), 3DX-Ray Ltd.(UK), Bosello High Technology srl (Italy), COMET Holding AG (Switzerland) among others.

The prominent players keep innovating and investing in research and development to offer a cost-effective product portfolio. There have been recent mergers and acquisitions among the key players, a strategy of business entities for strengthening their reach to the customers.

Key Segments

Global Industrial Radiography Market has been segmented based on imaging technology, radiation type, end-user, and region.

By component, the market has been segmented as hardware and software.

By imaging technology, the market has been segmented into film-based radiography and digital radiography.

By radiation type, the market has been segmented into X-rays and gamma rays

By end-user, the market has been segmented into automotive, consumer electronics, oil & gas, aerospace & defense, manufacturing, power generation, and others

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.