Press release
Industrial X-ray Market Forecasting Analysis By Radiography Ndt, Equipment, Weld Inspection, Test, Inspection Machine, Radiography Camera, Supplies Study and Forecast 2018
Industrial X-ray Market
The major factors driving the growth of this market are rising growth of automobile and aviation industries, technological advancements in industrial x-ray products, growing consumer awareness regarding enhanced quality of products, rising government funding is boosting the growth of the global industrial X-ray market. On the other hand, regulatory scenario and high cost of equipment may hinder the growth of the market. The industrial X-ray market in the global region is leading in North America.
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The key market players for Global Industrial X-ray Market are listed below:
General Electric
North Star Imaging Inc. (ITW)
Yxlon International
Nikon Corporation
DAGE (Nordson)
The global industrial X-ray market is segmented on the basis of product type, and industry. Based on product type, the global industrial X-ray market is segmented into instruments, and consumables. X-ray inspection devices are sub segmented on the basis of automation into manual X-ray devices, and fully automated X-ray devices. X-ray inspection devices are sub segmented on the basis of technology into microfocus, minifocus, and nanofocus. Consumables are sub segmented into X-ray tubes, X-ray detectors, and others. In 2017, instruments segment is expected to dominate the global industrial X-ray market with 69.9% market share and is expected to reach USD 605.39 million by 2024, with the highest CAGR of 6.6% in the forecast period 2017 to 2024.
The global industrial X-ray market is segmented based on industry into segments; automotive, aerospace, semiconductors, electronics, Li-battery, academia and R&D, and others. In 2017, aerospace is expected to dominate the global industrial X-ray market with 34.9% market share and is expected to reach USD 290.25 million by 2024. However, automotive is expected to grow at the highest CAGR of 7.3% in the forecast period, to reach USD 246.37 million by 2024 from USD 140.99 million in 2016 in the forecast period 2017 to 2024.
North America Industry Segmentation
The North America Industrial X-ray Market is accounted to reach USD 348.92 million by 2024 from USD 217.27 million in 2016, at a CAGR of 6.2% in the forecast period 2017 to 2024
Product Type: North America Industrial X-ray market is dominated by polystyrene foam with 38.7% market share in 2016, growing at a CAGR of 5.8% in the forecast period.
Industry: North America Industrial X-ray market is segmented based on end user into four notable segments; building & construction, transportation, consumer appliances and others. The building & construction market segment is expected to dominate the market.
Europe Industry Segmentation
The Europe Industrial X-ray Market is accounted to reach USD 232.05 million by 2024 from USD 150.98 million in 2016, at a CAGR of 5.6% in the forecast period 2017 to 2024
Product Type: Instruments is expected to dominate the Europe industrial X-ray market with 71.3% market share and is expected to reach USD 169.81 million by 2024, with the highest CAGR of 6.0% in the forecast period 2017 to 2024.
Industry: Aerospace segment is expected to dominate the Europe industrial X-ray market with 39.7% market share and is expected to reach USD 89.34 million by 2024, with a CAGR of 5.1% in the forecast period 2017 to 2024. However, automotive is expected to grow at the highest CAGR of 7.1% in the forecast period, and is expected to reach USD 64.05 million in 2024 from USD 37.34 million in 2016.
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Asia-Pacific Industry Segmentation
Asia-Pacific Industrial X-ray Market is expected to reach USD 226.94 million by 2024 from USD 132.05 million in 2016, at a CAGR of 7.1% in the forecast period 2017 to 2024. The industrial X-ray market in the Asia-Pacific region is leading in Japan.
Product Type: Instruments is expected to dominate the Asia-Pacific industrial X-ray market with 70.5% market share and is expected to reach USD 164.90 million by 2024, with the highest CAGR of 7.6% in the forecast period 2017 to 2024.
Industry: Aerospace segment is expected to dominate the Asia-Pacific industrial X-ray market with 33.8% market share and is expected to reach USD 77.59 million by 2024, with a CAGR of 7.2% in the forecast period 2017 to 2024. However, automotive is expected to grow at the highest CAGR of 8.0% in the forecast period, and is expected to reach USD 65.88 million in 2024 from USD 35.70 million in 2016.
Table Of Content
Introduction
1.1. Objectives Of The Study
1.2. Market Definition
1.3. Overview Of Global Industrial X-Ray Market
1.4. Currency And Pricing
1.5. Limitation
1.6. Markets Covered
Market Segmentation
2.1. Markets Covered
2.2. Geographic Scope
2.3. Years Considered For The Study
2.4. Currency And Pricing
2.5. Research Methodology
2.6. Primary Interviews With Key Opinion Leaders
2.7. Secondary Sources
2.8. Assumptions
Market Overview
3.1. Drivers
3.1.1. Rising Growth Of Automobile And Aviation Industries
3.1.2. Technological Advancementsin Industrial X-Ray Products
3.1.3. Growing Consumer Awareness Regarding Enhanced Quality Of Products
3.1.4. Rising Government Funding
3.2. Restraints
3.2.1. Regulatory Scenario
3.2.2. High Cost Of Equipment
3.3. Opportunity
3.3.1. Emerging Markets
3.3.2. Miniaturization Of Products
3.4. Challenges
Continue…
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