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Industrial Radiography Equipment Market worth $2.03 billion by 2030, growing at a CAGR of 8.38% - Exclusive Report by 360iResearch
Industrial Radiography Equipment Market | 360iResearch
The Global Industrial Radiography Equipment Market to grow from USD 1.15 billion in 2023 to USD 2.03 billion by 2030, at a CAGR of 8.38%.
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Industrial radiography equipment is a specialized device used to perform non-destructive testing (NDT) using radiographic imaging techniques. It is primarily used to inspect the internal structures and integrity of materials, components, and welds in various industries, such as manufacturing, construction, oil & gas, aerospace, and power generation. Industrial radiography utilizes either X-rays or gamma rays to penetrate the object being inspected, creating an image that reveals internal flaws, defects, and irregularities. Growing demand for non-destructive testing (NDT) and the availability of stringent safety regulations and quality control standards across industries is elevating the demand for industrial radiography equipment. High initial investment and health and safety concerns owing to the usage of ionizing radiation hampers the commercialization of industrial radiography equipment. The ongoing technological advancements to improve imaging technology, such as higher resolution, faster image acquisition, and advanced image analysis software by market vendors, are expected to expand the application of industrial radiography equipment.
Growing regulatory requirements and quality assurance needs are expanding the scope of industrial radiography equipment in the Americas, APAC, and Europe. The Americas region has a complex regulatory landscape with varying requirements across countries and industries. The U.S. Food and Drug Administration (FDA), Environmental Protection Agency (EPA), and Occupational Safety and Health Administration (OSHA) are some of the regulatory authorities in the region that introduce rules and regulations associated with the manufacturing, commercialization, and usage of several products and services. The expanding industrial sectors, such as manufacturing, automotive, electronics, healthcare, and construction, contribute to the increasing demand for industrial radiography equipment in Asia-Pacific to ensure compliance with quality, safety, and environmental standards. The increase in oil & gas exploration activities in the EMEA, particularly Saudi Arabia, Iraq, Kuwait, and Iran, supports the deployment of industrial radiography equipment in the region. The expanding oil & gas industry in the Middle East and Africa is expected to elevate the need for industrial radiography equipment in EMEA.
Market Segmentation & Coverage:
This research report categorizes the Industrial Radiography Equipment Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Imaging Technique, market is studied across Digital Radiography and Film-Based Radiography. The Digital Radiography is further studied across Computed Radiography, Computed Tomography, and Direct Radiography. The Film-Based Radiography is projected to witness significant market share during forecast period.
Based on Application, market is studied across Aerospace & Defense, Automotive & Transportation, Electronics, Oil & Gas, and Pharmaceutical. The Aerospace & Defense is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Industrial Radiography Equipment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Industrial Radiography Equipment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Industrial Radiography Equipment Market, highlighting leading vendors and their innovative profiles. These include 3DX-Ray Ltd., Anritsu Corporation, Baker Hughes Company, Blue Star Limited, Bolax NDT Engineering, Carestream Health, Inc., Comet Holding AG, DÜRR NDT GmbH & Co. KG, Fujifilm Corporation, GE Company, Golden Engineering Inc., Hamamatsu Photonics, K. K., Matsusada Precision Inc., Metrix NDT Ltd., Mettler-Toledo International Inc., Minebea Intec GmbH, Nikon Corporation, Nordson Corporation, North Star Imaging, Inc., PerkinElmer Inc., Pexray Oy, Precision X-Ray Inc., Seamark ZM Technology Co., Ltd., Shimadzu Corporation, Smiths Group PLC, Source Production & Equipment Co., Inc., Teledyne Technologies Incorporated, and Vision Medicaid Equipments Pvt., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Industrial Radiography Equipment Market, by Imaging Technique
7. Industrial Radiography Equipment Market, by Application
8. Americas Industrial Radiography Equipment Market
9. Asia-Pacific Industrial Radiography Equipment Market
10. Europe, Middle East & Africa Industrial Radiography Equipment Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Industrial Radiography Equipment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Industrial Radiography Equipment Market?
3. What is the competitive strategic window for opportunities in the Industrial Radiography Equipment Market?
4. What are the technology trends and regulatory frameworks in the Industrial Radiography Equipment Market?
5. What is the market share of the leading vendors in the Industrial Radiography Equipment Market?
6. What modes and strategic moves are considered suitable for entering the Industrial Radiography Equipment Market?
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