Market Research Report
Industrial Radiography Market by Imaging Technique (Film-based Radiography, Digital Radiography), End User (Petrochemicals & Gas, Power Generation, Manufacturing, Aerospace, and Automotive & Transportation), and Geography - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||929368|
|Published||Content info||150 Pages
Delivery time: 1-2 business days
|Industrial Radiography Market by Imaging Technique (Film-based Radiography, Digital Radiography), End User (Petrochemicals & Gas, Power Generation, Manufacturing, Aerospace, and Automotive & Transportation), and Geography - Global Forecast to 2025|
|Published: March 19, 2020||Content info: 150 Pages||
"Industrial radiography market to exhibit significant growth during 2020-2025"
The industrial radiography market is estimated to grow from USD 532 million in 2020 to USD 784 million by 2025; growing at a CAGR of 8.1%. Major factors fueling the growth include increasing demand for NDT services in automotive and aerospace industries, advancements in software that are integrated into radiography systems, stringent regulations by various governments regarding industrial safety and product quality, and the preventive maintenance of industrial equipment.
The market for the digital radiography technique is expected to grow at a higher CAGR during the forecast period. Digital radiography is the latest development in industrial X-ray imaging, requires less time and effort, and the output is highly reliable; therefore, it is in greater demand in almost all the industries. Digital radiography offers many benefits over film-based technology such as saving of time, greater dynamic range, wider exposure latitude, post-processing capabilities, and image manipulation.
The automotive & transportation end user is expected to hold the majority of market share in 2025. The automotive sector is developing rapidly and is focusing more on high-value proposition along with cost reductions. Industrial radiography tools have become invaluable in these efforts as they provide manufacturers the ability to engineer products of higher quality with tighter tolerances, while also providing them a way to inspect the products during the production process. Further, the growing focus on automotive production and infrastructure development in an emerging region has boosted the growth of the industrial radiography market for the automotive and transportation end user.
The adoption of industrial radiography equipment is high in North America due to well-developed manufacturing, mining, aerospace, and automotive & transportation industries in the region, which are the major application areas of industrial radiography. Similarly, the production of oil in this region has boosted the growth of the region's petroleum industry, which has applications for industrial radiography in its day-to-day operations.
The key players in the market include: 3DX-Ray LTD (U.K.), Anritsu Corporation (Japan), Bosello HT (Italy), PerkinElmer, Inc. (U.S.), General Electric (U.S.), FujiFilm Holdings Corporation, and Others.
The global industrial radiography market has been segmented based on imaging technique, end user, and region. Based on imaging technique, the market has been segmented into film-based radiography and digital radiography. Based on end user, the industrial radiography market has been classified into petrochemicals & gas, power generation, manufacturing, aerospace, automotive & transportation, and others. The report covers 4 major geographic regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
*Business Overview, Products/Services/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.