The global industrial radiography market is worth US$ 608.7 Mn as of now and expected to reach US$ 1.34 Bn by the year 2032 at a CAGR of 8.2% between 2022 and 2032.
With growing awareness about the fact that industrial radiography is synonymous to reliability, ability, and variety with respect to provision of information regarding an object or substance, that too, on a permanent basis, the industrial radiography market is slated to go great guns in the forecast period. Another factor is stern regulations laid down by the governments all across regarding high-precision inspection and safety. Radiography also helps in reducing maintenance costs as failure of devices could be detected at an early stage.
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Transparent foundation along with emulsion layer are used as far as film-based radiography is concerned. They help in measuring faults. Digital radiography is doing the rounds. It’s, in fact, looked upon as a good alternative to X-Ray films. Digital image-capturing equipment coupled with computer processing could aid in enhancing the quality of image. Image gets saved in the digital format, thereby facilitating creation of database for referrals in the long run.
Additionally, there is an excessive need for products like metal sheets, pipes, and various other items that are free of defects. All these factors are bound to take the industrial radiography market by storm in the upcoming period.
At the same time, it should be noted that costly implementation and significant exposure to radiation could hinder the industrial radiography market. Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘Industrial Radiography Market’. It has its team of analysts and consultants to execute.
Key Takeaways from Industrial Radiography Market
- North America holds more than 30% of the market share. It could be attributed to the US being home to the biggest aerospace industry. The market players are increasingly emphasizing on reduction of risks related to radiation, and, as such, prefer portability solutions, which has actually compelled them to refurbish their product portfolio.
- Europe holds over 20% of the market share due to players like BAE Systems (a leading defense contractor) being present over here. Also, with Germany dominating Industry 4.0, the market’s dynamics are bound to change in the upcoming period.
- The Asia-Pacific is expected to grow at the highest pace in the industrial radiography market. This could be attributed to automotive vertical growing at an alarming rate in the near future.
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Competitive Radiography
- Dürr AG, in September 2020, acquired US-based Megtec/Universal with the objective of expanding the portfolio by adding vital competencies in the battery manufacturing technology. As such, Dürr Megtec makes way for solutions for 3 essential steps in producing lithium-ion batteries. These 3 steps include drying, coating, and solvent recovery systems.
- YXLON International, in September 2020, upgraded its CT (computed tomography) systems, so as to render them compliant with VGSTUDIO MAX 3.4. It’s the latest version regarding visualization and analysis software for industrial computed tomography data, that too, from ‘Volume Graphics GmbH’.
- Waygate Technologies, in August 2020, tabled 2 novel portable X-Ray detectors as an extension of DXR’s (digital X-Ray family’s) offerings. These direct radiography detectors ‘DXR75P-HR’ and ‘DXR140P-HC’ do combine the technological advances and claim to render efficient imaging with high quality.
- Comet Group, through its ‘e-beam technologies’ sector, manufactures, develops, and markets portable X-Ray modules and metal-ceramic X-Ray sources for security inspection and non-destructive testing. The application areas include aerospace, automotive, semiconductors, energy, and solar energy-based industries.
What does the Report encompass?
- The research study is based on imaging technique (digital radiography and film-based radiography), and by industry (power generation (wind power, fossil fuel, nuclear power, and solar power), aerospace (airframe manufacturing, maintenance, engine part production, and material and component analysis), petrochemical and gas (refining, subsea pipeline, liquefaction of natural gas, and transmission pipeline & storage tanks), manufacturing (metal industry, shipbuilding, mining industry, and pipe and tube manufacturing & foundry), automotive & transportation (metal casting, wheel and axle manufacturing, and critical components manufacturing), and likewise).
- Industrial radiography is used for viewing or inspecting flaws and cracks in materials that naked eyes can’t see. This realization is expected to drive the industrial radiography market going forward.
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Key Segments Covered in the industrial radiography Industry Analysis
By Imaging Technique:
- Digital Radiography
- Film-Based Radiography
By Industry:
- Power Generation
- Wind Power
- Fossil Fuel
- Nuclear Power
- Solar Power
- Aerospace
- Airframe Manufacturing
- Maintenance
- Engine Part Production
- Material and Component Analysis
- Petrochemical and Gas
- Refining
- Subsea Pipeline
- Liquefaction of Natural Gas
- Transmission Pipeline & Storage Tanks
- Manufacturing
- Metal Industry
- Shipbuilding
- Mining Industry
- Pipe and Tube Manufacturing & Foundry
- Automotive & Transportation
- Metal Casting
- Wheel and Axle Manufacturing
- Critical Components Manufacturing
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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