Industrial Radiography Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Imaging Techniques (Film Based, Digital), By Application (Power Generation, Manufacturing, Aerospace, Automotive, Others), And By Geography - Forecasts From 2022 To 2027

  • Published : Jul 2022
  • Report Code : KSI061610205
  • Pages : 133

The industrial radiography market is projected to grow at a CAGR of 6.45% during the forecast period to reach US$939.316 million by 2027, from US$606.399 million in 2020. Industrial radiography is a type of non-destructive testing method that employs ionizing radiation to inspect materials and components to track down and quantify anomalies and degradation in the material characteristics that would cause structural components to fail. It is critical to the science and technology required to ensure product quality and reliability. This modality exploits the traits of gamma rays, X-rays, and neutrons to penetrate many materials. Industrial radiography is used in a wide range of applications from aircraft maintenance to food inspection, including casting parts, welding, composite piece inspection, counterfeit drug control, coating thickness measurement, and many others. The growing demand for industrial radiography in manufacturing, aerospace, automotive, and power generation is expected to drive the market's growth onward. The industrial radiography market landscape is segmented based on the types of imaging techniques, application industries, and geographical regions.

The increasing demand for industrial radiography methods in multiple industries is expected to drive the market growth onward.

Non-destructive industrial radiography solutions are increasingly being used and have progressively evolved as an indispensable tool due to their versatile range of applications in a variety of industries.  From inspecting, quantifying, and qualifying malfunctions and abnormalities to access internal and external geometric features, industrial radiography has diverse applications based on the type, size, and inspection criterion of the materials. Examples of applications include pre-production qualification in manufacturing, structural integrity analysis or packaging in the packaging industry, ballistics in automotive, and stints in medical devices. The increasing number of nuclear power plants is another factor contributing to the growing demand for industrial radiography. According to the Nuclear World Organisation, for instance, there are about 441 operable nuclear power reactors as of May 2022 globally. Furthermore, about 53 reactors are under development, while 325 more such reactors are currently under the proposal.

The strategic developments deployed by the key players to meet the increasing demand for the industrial radiography market and enhance their brand presence are further accelerating the growth of the market. For instance, in June 2020, North Star Imaging relocated its X-ray inspection business to a larger site in California. The new site is equipped with more space, a larger warehouse, an X3000, and two X5000. The latter two devices facilitate the new facility to scan objects, from micron-sized objects to objects as huge as a 50-gallon barrel. The launch of a high-energy CT scanner by Wagayate Technologies, a global leader in inspection solutions, in December 2020 is another such example of this. The new CT system, Phoenix Power Scan HE, can scan and detect the internal attributes of high-density critical components. This 9 MeV machine is about 2 metres in diameter and height.

North America and Europe are expected to occupy a dominant share of the global industrial radiography market.

Geographically, the market is segmented into the Americas, Europe, the Middle East and Africa (EMEA), and the Asia Pacific. The growing aerospace and automotive industries are eliciting demand for industrial radiography in the regions. The growth in North America is predominantly attributed to the presence of the largest aerospace segments in the United States and the United Kingdom. While Mexico and Germany house many automotive giants. The increasing concerns for the environment and the stringent rules and regulations deployed by the governments to decrease the consumption of non-renewable resources are also contributing to the increasing demand for industrial radiography solutions in the power plants, further adding impetus to the industrial radiography market in the regions. The increasing developments in +countries like China, India, and Japan are rapidly driving the market growth in the Asia Pacific region. The presence of various industry giants, including General Electric, COMET Group, and FunjiFilm Holdings, in the above regions is further extending the market growth.

Restraints

Nevertheless, the high deployment costs and risk of high radiation exposure associated with the increasing use of industrial radiography could slow down the growth of the market. Furthermore, the shortage of skilled human resources is another factor affecting the industry. Due to the high technical requirements, finding and training suitable employees is one of the challenges faced

COVID -19 Insights

The outbreak of COVID-19 has negatively affected the industrial radiography market. Several manufacturing industries had to temporarily close due to the mandated lockdowns.  Furthermore, the surge in active cases and social distancing measures reduced staffing, thereby reducing productivity. The recession in the economy observed forced many companies to halt their ongoing projects. Consequently, the demand for the industrial radiography market decreased during the period due to the factors mentioned above.

Industrial Radiography Market Scope:

Report Metric Details
 Market size value in 2020  US$606.399 million
 Market size value in 2027  US$939.316 million
 Growth Rate  CAGR of 6.45% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments covered  Imaging Techniques, Applications, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered 3D X-RAY Ltd, Anritsu Corporation, Perkin Elmer, Carl Zeiss X-ray Technologies, FUJIFILM Holding Corporation, Shimadzu Corporation, COMET Holding AG, Nikon Corporation, Hitachi Ltd., Carestream
 Customization scope  Free report customization with purchase

 

Key Market Segments

  • By Imaging Techniques
    • Film Based
    • Digital
  • By Applications
    • Power Generation
    • Manufacturing
    • Aerospace
    • Automotive
    • Others
  • By Geography
    • Americas
      • USA
      • Canada
      • Mexico
      • Others
    • Europe, Middle East, and Africa
      • UK
      • Germany
      • France
      • Saudi Arabia
      • UAE
      • Others
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the industrial radiography market size by 2027?
A1. The industrial radiography market is projected to reach a market size of US$939.316 million in 2027.


Q2. What are the growth prospects for the industrial radiography market?
A2. The global industrial radiography market is projected to grow at a CAGR of 6.45 during the forecast period.


Q3. What is the size of the global industrial radiography market?
A3. Industrial Radiography Market was valued at US$606.399 million in 2020.


Q4. How is the global industrial radiography market segmented?
A4. The industrial radiography market has been segmented by imaging techniques, application, and geography.


Q5. What factors are anticipated to drive the industrial radiography market growth?
A5. The growing demand for industrial radiography in manufacturing, aerospace, automotive, and power generation is expected to drive the industrial radiography market growth.


1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. Industrial Radiography Market Analysis, By Imaging Technique
5.1. Introduction
5.2. Film Based
5.3. Digital

6. Industrial Radiography Market Analysis, By Application Industries
6.1. Introduction
6.2. Power Generation
6.3. Manufacturing
6.4. Aerospace
6.5. Automotive
6.6. Others

7. Industrial Radiography Market Analysis, Geography
7.1. Introduction
7.2. Americas
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.2.4. Others
7.3. Europe, Middle East and Africa
7.3.1. UK
7.3.2. Germany
7.3.3. France
7.3.4. Saudi Arabia
7.3.5. UAE
7.3.6. Others
7.4. Asia-Pacific
7.4.1. China
7.4.2. India
7.4.3. Japan
7.4.4. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Vendor Matrix Analysis
8.2. Recent Deals
8.3. Strategies of Key Players

9. COMPANY PROFILES
9.1. 3D X-RAY Ltd
9.2. Anritsu Corporation
9.3. Perkin Elmer
9.4. Carl Zeiss X-ray Technologies
9.5. FUJIFILM Holding Corporation
9.6. Shimadzu Corporation
9.7. COMET Holding AG
9.8. Nikon Corporation
9.9. Hitachi Ltd.
9.10. Carestream

3D X-RAY Ltd

Anritsu Corporation

Perkin Elmer

Carl Zeiss X-ray Technologies

FUJIFILM Holding Corporation

Shimadzu Corporation

COMET Holding AG

Nikon Corporation

Hitachi Ltd.

Carestream