Industrial Radiography Equipment Market to Hit USD 950 Mn by 2026

Acumen Research and Consulting, recently published report “Industrial Radiography Equipment Market - Global Industry Analysis, Size and Forecast, 2019 - 2026”


LOS ANGELES, April 27, 2019 (GLOBE NEWSWIRE) -- The global Industrial Radiography Equipment Market size is estimated to grow at 6.5 % CAGR over the forecast time frame 2019-2026 and reach the market value around USD 950 Million by 2026.

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In order to detect faults and integrity of the manufactured components, industrial radiography equipment is used. In particular industrial radiography equipment are used for applications such as product inspection, airport safety, welding inspection and intruder-free cargo scanning. The growth of the automotive and aerospace sectors increases demand for industrial radiography equipment by helping to reduce waste and increase productivity. By regularly checking for defects or defects in gas & oil pipeline systems, the chemical industries ensure the safety of their manufacturing plants.

Increasing popularity in the field of Industrial Radiography Equipment worldwide

In order to ensure that products are structurally integral and to detect defects, if any, during the fabrication of components, industrial radiography is increasingly used in different areas, such as aerospace & defense, semi-conductor and oil / gas. The demand for industrial radiographs worldwide is projected to increase. In turn, this will probably fuel the market of industrial radiography equipment during the prediction period.

On the basis of imaging, the world market for industrial radiography equipment is divided into film-based radiography equipment and digital radiography equipment. In addition, direct radiography equipment, computer radiography equipment and computed tomography were subdivided into the segment of digital x-ray technology. The digital radiography segment is expected to expand quickly during the forecast period due to the high quality of images generated with the help of digital radiography. High image quality enables the quality of the components to be better analyzed.

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Application Insights

For its implementation, aeronautics & defense, automotive & transportation, electronics, manufacturing, oil & gas, and many others are classified on the global industrial radiography equipment market. The increased use of industrial x-ray technique in the manufacturing industry can be attributed to ensuring high component quality. In addition, different manufacturers are using industrial radiography for the analysis of the quality of additives in additive production. Therefore, during the projected period, the manufacturing segment is expected to grow to a significant 7% CAGR.

Regional Snapshots

Geographical aspects are divided into North America, Europe, the Asia-Pacific, the Middle East & Africa and South America, the world's industrial radiography equipment markets. North America, followed by Europe, was the leading market in 2018. Due to growing popularity and increased use of industrial radiographs in different industries in the region, market in Asia-Pacific is projected to increase by maximum CAGR from 2019 to 2026. During the forecast period, North America is expected to hold a substantial share of the global market for industrial radiography equipment. This growth is primarily due to the growing demand for industrial x-ray equipment from different industries in the region such as aerospace and defense, semiconductors, oil and gas, and production.

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Key Players & Strategies

The key players in the world market for industrial Radiography equipment focus on developing and marketing new products to achieve competitiveness and improve their brand positioning in the market. In November 2018, for instance, Fujifilm has announced that they will add to their portfolio digital radiography solutions, two new digital radiography equipment, i.e. Calneo Dual (only available in Japan) and the FDR ES.

In addition, major players form strategic alliances with peers and less well-established players to gain market share. Fujifilm Corporation, Shimadzu Corporation, Comet Group, Nikon Corporation and North Star Imaging are the key players in the global market for industrial radiography equipments.

The market seems fragmented and the competitive environment is quite intense in the presence of several companies including Anritsu and Comet Holding. Factors such as the increasing opportunity for radiography equipment in additive production and the growing compliance with the safety regulations will provide the manufacturers of industrial radiography equipment with substantial growth opportunities.

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