Industrial Radiography Equipment Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR46546
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The industrial radiography equipment market size has the potential to grow by USD 197.32 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.09%. 

This report provides a detailed analysis of the market by product (digital and analog), end-user (automotive, aerospace and defense, power generation, oil and gas, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • ADANI
  • Anritsu Corp.
  • Comet Group
  • DURR NDT GmbH & Co. KG
  • General Electric Co.
  • Illinois Tool Works Inc.
  • Image Scan Holdings plc.
  • MATSUSADA PRECISION Inc.
  • Mettler-Toledo International Inc.
  • Nikon Corp.

 

The industrial radiography equipment market is fragmented and the vendors are deploying growth strategies such as offering differentiated products to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the replacement of analog radiography systems with digital radiography systems to achieve growth opportunities. However, factors such as high initial cost will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the industrial radiography equipment market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This industrial radiography equipment market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Industrial Radiography Equipment Market: Key Drivers and Trends

  • The replacement of analog radiography systems with digital radiography systems is a key growth driver for the industrial radiography equipment market.
  • Digital X-ray systems offer several benefits, including increased output, better image quality, faster scanning, and multiple storage options.
  • The images of digital systems can be stored on hard drives or discs, and users have better control over the quality of produced images.
  • Although digital radiography systems are expensive than analog radiography systems, high return on investments is encouraging end-user industries to upgrade their radiography systems.
  • The demand for industrial radiography systems is further boosted by the need for better test and measurement in tubing assemblies, multi-layer printed circuit boards, and semiconductor chips. 
  • The renewed demand from the energy sector will also fuel the growth of the industrial radiography equipment market size.
  • The oil and gas and power industries are a few of the significant end-users of radiography testing equipment.
  • The demand for radiography equipment is high in the upstream oil and gas sector. The midstream oil and gas sector is also significantly using radiography equipment.
  • Pipeline leaks are grave issues for oil and gas operators. Therefore, oil and gas industries have been using radiography equipment to minimize leaks.
  • In the power industry, investments in power plants globally are increasing to meet the rising electricity demand.
  • The new power generation projects in developing countries are expected to drive the demand for radiography equipment in the power industry. 

 

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Industrial Radiography Equipment Market: Segmentation by Geography

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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for industrial radiography equipment in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The increasing demand for digital radiography equipment particularly from the automotive and semiconductor and electronics industry will facilitate the industrial radiography equipment market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Industrial Radiography Equipment Market: Segmentation by Product

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Digital radiography uses computer-aided inspection technology for radiography testing. Digital radiography offers accurate images, consistent quality, lower radiation levels, and proper image storage and retrieval facility. These beneficial attributes have been spurring the demand for digital radiography equipment over the years. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial radiography equipment market size. Fetch actionable market insights on post COVID-19 impact on each segment.   

 

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Industrial Radiography Equipment Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial radiography equipment market growth during the next five years
  • Precise estimation of the industrial radiography equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial radiography equipment market across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial radiography equipment market vendors

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Industrial Radiography Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2021-2025

$ 197.32 million

Market structure

Fragmented

YoY growth (%)

5.71

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

US, China, Germany, Japan, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ADANI, Anritsu Corp., Comet Group, DURR NDT GmbH & Co. KG, General Electric Co., Illinois Tool Works Inc., Image Scan Holdings plc., MATSUSADA PRECISION Inc., Mettler-Toledo International Inc., and Nikon Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces analysis
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Digital - Market size and forecast 2020-2025
    • Analog - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End user
    • Automotive - Market size and forecast 2020-2025
    • Aerospace and defense - Market size and forecast 2020-2025
    • Power generation - Market size and forecast 2020-2025
    • Oil and gas - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Competitive scenario
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • ADANI
      • Anritsu Corp.
      • Comet Group
      • DURR NDT GmbH & Co. KG
      • General Electric Co.
      • Illinois Tool Works Inc.
      • Image Scan Holdings plc.
      • MATSUSADA PRECISION Inc.
      • Mettler-Toledo International Inc.
      • Nikon Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The industrial radiography equipment market growth will increase by $197.32 million during 2020-2025.
      The industrial radiography equipment market is expected to grow at a CAGR of 6.09% during 2020-2025.
      Technavio has segmented the industrial radiography equipment market by product (Digital and Analog) ,end user (Automotive, Aerospace and defense, Power generation, Oil and gas, and Others) , and geographic (APAC, North America, Europe, South America, and MEA).
      ADANI, Anritsu Corp., Comet Group, DURR NDT GmbH & Co. KG, General Electric Co., Illinois Tool Works Inc., Image Scan Holdings plc., MATSUSADA PRECISION Inc., Mettler-Toledo International Inc., Nikon Corp. are a few of the key vendors in the industrial radiography equipment market.
      APAC will register the highest growth rate of 44.74% among the other regions. Therefore, the industrial radiography equipment market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the industrial radiography equipment market growth are:
      • Replacement of analog radiography systems with digital radiography systems
      The industrial radiography equipment market vendors should focus on grabbing business opportunities from the digital segment as it accounted for the largest market share in the base year.
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