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

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.