ID: MRFR/SEM/8544-HCR | February 2021 | Region: Global | 100 pages
Industrial Radiography Market Synopsis
Industrial Radiography Market is estimated to reach USD 837.1 Million by 2025, registering a CAGR of 7.2% during the forecast period of 2020–2025. Industrial radiography is a type of nondestructive testing which are being used by the industries for test purpose. The industrial radiography utilizes a variety of techniques including film-based radiography, digital radiography with X-ray technology for detecting cracks or flaws within materials. In this testing, the object, product, or material are exposed in the radiation between the transmitter and the receiver, if the intensity of radiation passed through the material is directly reached to the receiver than there is a crack within the object. However, the intensity of the rays is low when passed through the object or material than there is no issue in the material, which further can be used for manufacturing the product.
Similarly, industrial radiography provides high versatility, ability, and reliability to provide permanent information associated with the material or the object which increases the overall efficiency of the final product. There are various factors that are driving the growth of the industrial radiography market for instance increasing demand for improved and efficient productivity from the manufacturing units, increasing adoption on the testing technology by the automotive and aerospace & defense manufacturing companies for rectifying the defects and the flaws. Furthermore, the stringent regulations made from various governments associated with safety and high accuracy inspection by various manufacturers is also boosting the growth of Industrial Radiography Market across the globe. The rising adoption and use of consumer electronics are also driving the market as the radiography equipment are used for reducing failure and maintenance cost for the product. Currently, the manufacturers are competing based on the quality which is also expected to drive the Industrial Radiography Market growth during the coming years.
Industrial Radiography Market has been segmented based on Imaging Technology, Radiation Type, End-User and Region.
By Component, the Industrial Radiography Market has been segmented as hardware and software.
By Imaging Technology, the Industrial Radiography Market has been segmented into film-based radiography and digital radiography.
By Radiation Type, the Industrial Radiography Market has been segmented into X-rays and gamma rays
By End-User, the Industrial Radiography 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.
Global Industrial Radiography Market, 2018–2025 (USD Million)
Source: MRFR Website
Industrial Radiography Market is estimated to grow at a significant rate during the forecast period from 2020 to 2025. The geographic analysis of Industrial Radiography has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).
The increasing industrialization and rising demand for defect-free products such as pipes, metal sheets, and others from various industries are one of factor which is driving the industrial radiography market. North America holds the largest share for the industrial radiography market in 2019 due to the presence of various key players including General Electric Company, Baker Hughes, Mettler-Toledo, and others which offers various products and imaging technologies. Additionally, the presence of various manufacturing units, oil & gas, automotive companies in the region has also increased the demand for radiography testing. However, the Asia-Pacific region is expected to be the fastest-growing region due to increasing investments by the government and manufacturing units, chemical plants and others are boosting the growth of the market.
MRFR recognizes the key players in the industrial radiography market as 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 present a cost-effective product portfolio. There have been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Frequently Asked Questions (FAQ) :
The global industrial radiography market size can reach USD 837.1 million by 2025.
The global industrial radiography market can showcase a CAGR of 7.2% from 2019 to 2025.
Adoption of major testing technologies for automotive and aerospace sectors and demand for improved productivity from the manufacturing sector are major drivers of the global industrial radiography market.
North America holds the largest share of the global industrial radiography market.
PerkinElmer, Inc., Bosello High Technology srl, 3DX-Ray Ltd., General Electric Company, Anritsu Corporation, Baker Hughes, Shimadzu Corporation, COMET Holding AG, Mettler-Toledo, Fujifilm Holdings Corporation, and Nikon Corporation are key players of the global industrial radiography market.