Global Radiation Survey Meters Market 2017-2021

Overview of the global radiation survey meters market

According to Technavio’s market research report, the global radiation survey meters market will grow at a steady rate and post a CAGR of more than 5% during the forecast period. The increasing use of nuclear energy for electricity generation will drive the growth prospects for the global radiation survey meters market during the projected period. The market is witnessing a huge shift from natural gas or coal for the generation of energy towards the use of nuclear energy because the use of natural gas or coal produces a huge amount of carbon dioxide. Continuous energy production, high performance, and resisting the volatility in the prices of other fuels such as diesel and petrol are some of the benefits of using nuclear power plants for the generation of energy. Consequently, the demand for safety equipment like radiological survey meters to ensure the safety of people and environment will increase from various countries that highly depend on nuclear energy.

In terms of geographic regions, North America accounted for the maximum shares of the radiation survey meters market during 2016. The huge demand for radiation detectors and radiation meters from the homeland security and defense sectors will be a major factor fueling the demand for radiation survey meters in this region. According to this market research and analysis, this region will continue to dominate the radioactive detector market throughout the predicted period as well.

Competitive landscape and key vendors

The global radiation survey meters market is characterized by the presence of well-established vendors and is highly competitive. The major vendors focus on acquiring highly-specialized companies that offer services to various sectors such as medical or nuclear power. The radiation meter manufacturers provide radiation measurement services for various application industries such as defense, healthcare, nuclear plants, academia, and research. New product launches and the introduction of products with additional features such as background noise calibration will intensify the level of competition among the market players in the radioactive detector market.

Key vendors in this market are -

• Fuji Electri
• Hitachi
• Ludlum Measurements
• Mirion Technologies

Other prominent vendors in the market include Polimaster and Thermo Fisher Scientific.

Segmentation by application and analysis of the radiation survey meters market

• Healthcare
• Industry and manufacturing
• Defense

During 2016, the healthcare segment accounted for the largest share of the radiation survey meters market and will continue to dominate the market until the end of the forecast period. Since the healthcare industry involves a high degree of radiation therapy exposure for the treatment of cancer, a large number of healthcare units increasingly rely on survey meters for radiation sterilization. Computed tomography (CT), fluoroscopy, and nuclear medicine are the three major sources of radiations in the healthcare segment.

Segmentation by product and analysis of the radiation survey meters market

• Scintillation detector
• Nuetron detector
• Geiger counter

The scintillation detector segment accounted for the majority shares of the radioactive detector market during 2016. The production of scintillation detectors is inexpensive and their performance is highly-efficient. This propels the application of scintillation detectors among various end users. Additionally, benefits such as radiation protection, high-speed performance, quick readings, and tolerance towards high magnetic field, will also fuel the demand of scintillation detectors.  

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global radiation survey meters market?
• What are the key market trends impacting the growth of the global radiation survey meters market?
• What are the challenges to market growth?
• Who are the key vendors in the global radiation survey meters market?
• What are the market opportunities and threats faced by the vendors in the global radiation survey meters market?
• What are the trending factors influencing the market shares of APAC, EMEA, and North America?
• What are the key outcomes of the five forces analysis of the global radiation survey meters market?

Technavio also offers customization on reports based on specific client requirement.

Radiation survey meters are portable radiation detection and monitoring instruments that are used to measure external radiation hazards. Technavio’s research reports cover an array of product markets including computing devices and embedded systems. Also, in order to present an extensive collection of market research reports that will support vendors in the hardware sector, market research analysts at the research firm Technavio take into account various parameters such as the change in customer behavior, factors that challenge market growth, and the major players.

By following a mix of proven quantitative and qualitative research techniques and by considering several aspects including the market size and the changing market dynamics in multiple markets across geographical regions, research analysts at Technavio predict the industry’s growth prospects, which will support clients in the semiconductor equipment sector to infer effective growth strategies. This forthcoming report on radiation survey meters market also considers the growth of the similar markets such as internet of things devices market and smart home M2M market,  which are expected to grow at a CAGR of almost 4% and close to 32%, respectively until 2021. According to our market research analyst, the increasing dependency on nuclear energy as the primary source of electricity supply may result in the growth of this market over the next few years. This, in turn, is expected to project growth in the radiation survey meter market in the coming years.

The upcoming industry research report for radiation survey meters’ market also identifies the key drivers, trends, along with the challenges currently experienced by vendors in the semiconductor equipment sector.