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For the year 2023, the industrial radiography market was estimated to be worth $142.11 billion. Forecasts indicate that the industrial radiography market will expand from $0.63 billion in 2024 to $0.98 billion in 2031, a CAGR (compound annual growth rate) of 9.20% from 2024 to 2031. Key market drivers promoting industry expansion include increasing need for enhanced and efficient productivity from industrial units and expanding acceptance and use of consumer electronics.
The special physical characteristics of X-rays and γ-rays enable them to pass through different kinds of materials, such carbon and steel, and then come out the other side. By checking for flaws in the machine's metals and welding components, this quality guarantees that the goods will last and are safe to use. In addition, radiography allows for testing in industrial buildings without causing any damage. To prevent radiation exposure, radiography equipment is constantly shielded. For the purposes of observation, evaluation, and analysis, industrial radiography employs ionizing electromagnetic radiations.
The market is being propelled by the increasing use of industrial radiography in the aerospace and automotive sectors. However, worries about the detrimental consequences of radiation exposure and the greater expenses of this equipment make it difficult to implement. Industrial radiography market participants may look forward to prosperous chances in the coming years as a result of rising automation in testing machines and fast industrialization.
The United States has the highest number of COVID-19 cases in North America, with over 20 million instances reported; states including California, Texas, Florida, and New York have been hit particularly hard. The federal government did not implement a nationwide lockdown in 2020; but, a small number of state governors chose to do so, which had a negative impact on the aerospace and industrial sectors, among others. The pharmaceutical and fast-moving consumer goods (FMCG) industries, on the other hand, had to keep running.
The industrial radiography market is dominated by North America. This is because radiography is widely used in the aerospace sector in the US and the automobile industry in Mexico. A growing number of businesses are reevaluating their product lines with an eye toward reducing radiation-related risks and choosing portable alternatives. The supply side was also affected, in addition to the demand side. Keeping up with quarterly revenues was a significant problem for original equipment manufacturers (OEMs) due to supply chain disruptions and pauses in raw material procurement caused by shuttered or low-capacity manufacturing plants in the region.
The increasing need for enhanced and effective production from manufacturing facilities is propelling the industrial radiography market CAGR. To improve overall efficiency, industrial radiography can record information about a material or object permanently. The need for testing technologies to identify and fix problems is on the rise in the automotive, aerospace, and military industries, as is the demand from manufacturing units for more efficient and effective production. The worldwide industrial radiography market is expanding due to stringent government laws regarding safety and high-precision inspection, which are being enforced by various manufacturers. The decreasing device failure and maintenance costs made possible by radiography equipment are contributing factors to the market's growth, together with the increasing popularity and usage of consumer electronics. During the predicted period, the industrial radiography market is expected to experience growth due to manufacturers' focus on quality.
There will likely be many uses for industrial radiography in many different industries, including manufacturing, petrochemical and gas, aerospace, power generation, transportation and automotive, and others, all of which are experiencing rising demand for economical, high-quality items. The demand from the aerospace and automotive industries is on the rise, which is supporting the industrial radiography market. This is mainly because of the stringent safety regulations that have been put in place by various governments, as well as the practice of preventative maintenance of industrial equipment. Consequently, propelling the revenues of the Industrial Radiography industry.
Report Coverage
Global Industrial Radiography research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Industrial Radiography report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Industrial Radiography competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Industrial Radiography market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Industrial Radiography market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Industrial Radiography market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Industrial Radiography market based on the below-mentioned segments:
Global Industrial Radiography Market, By Radiation Type
X-Rays
Gamma Rays
Global Industrial Radiography market, By Component
Hardware
Software
Global Industrial Radiography Market, By End User
Automotive
Oil & Gas
Consumer Electronics
Aerospace & Defense
Manufacturing
Power Generation
Others
Global Industrial Radiography market, Regional Analysis
The special physical characteristics of X-rays and γ-rays enable them to pass through different kinds of materials, such carbon and steel, and then come out the other side. By checking for flaws in the machine's metals and welding components, this quality guarantees that the goods will last and are safe to use. In addition, radiography allows for testing in industrial buildings without causing any damage. To prevent radiation exposure, radiography equipment is constantly shielded. For the purposes of observation, evaluation, and analysis, industrial radiography employs ionizing electromagnetic radiations.
The market is being propelled by the increasing use of industrial radiography in the aerospace and automotive sectors. However, worries about the detrimental consequences of radiation exposure and the greater expenses of this equipment make it difficult to implement. Industrial radiography market participants may look forward to prosperous chances in the coming years as a result of rising automation in testing machines and fast industrialization.
The United States has the highest number of COVID-19 cases in North America, with over 20 million instances reported; states including California, Texas, Florida, and New York have been hit particularly hard. The federal government did not implement a nationwide lockdown in 2020; but, a small number of state governors chose to do so, which had a negative impact on the aerospace and industrial sectors, among others. The pharmaceutical and fast-moving consumer goods (FMCG) industries, on the other hand, had to keep running.
The industrial radiography market is dominated by North America. This is because radiography is widely used in the aerospace sector in the US and the automobile industry in Mexico. A growing number of businesses are reevaluating their product lines with an eye toward reducing radiation-related risks and choosing portable alternatives. The supply side was also affected, in addition to the demand side. Keeping up with quarterly revenues was a significant problem for original equipment manufacturers (OEMs) due to supply chain disruptions and pauses in raw material procurement caused by shuttered or low-capacity manufacturing plants in the region.
The increasing need for enhanced and effective production from manufacturing facilities is propelling the industrial radiography market CAGR. To improve overall efficiency, industrial radiography can record information about a material or object permanently. The need for testing technologies to identify and fix problems is on the rise in the automotive, aerospace, and military industries, as is the demand from manufacturing units for more efficient and effective production. The worldwide industrial radiography market is expanding due to stringent government laws regarding safety and high-precision inspection, which are being enforced by various manufacturers. The decreasing device failure and maintenance costs made possible by radiography equipment are contributing factors to the market's growth, together with the increasing popularity and usage of consumer electronics. During the predicted period, the industrial radiography market is expected to experience growth due to manufacturers' focus on quality.
There will likely be many uses for industrial radiography in many different industries, including manufacturing, petrochemical and gas, aerospace, power generation, transportation and automotive, and others, all of which are experiencing rising demand for economical, high-quality items. The demand from the aerospace and automotive industries is on the rise, which is supporting the industrial radiography market. This is mainly because of the stringent safety regulations that have been put in place by various governments, as well as the practice of preventative maintenance of industrial equipment. Consequently, propelling the revenues of the Industrial Radiography industry.
Report Coverage
Global Industrial Radiography research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Industrial Radiography report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Industrial Radiography competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Industrial Radiography market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Industrial Radiography Market from 2021 to 2031.
- Market Forecast for Industrial Radiography Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Industrial Radiography competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Industrial Radiography
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Industrial Radiography market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Industrial Radiography market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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)
Primary Target Market
- Market Players of Industrial Radiography
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Industrial Radiography market based on the below-mentioned segments:
Global Industrial Radiography Market, By Radiation Type
X-Rays
Gamma Rays
Global Industrial Radiography market, By Component
Hardware
Software
Global Industrial Radiography Market, By End User
Automotive
Oil & Gas
Consumer Electronics
Aerospace & Defense
Manufacturing
Power Generation
Others
Global Industrial Radiography market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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