Global Industrial Radiography Market: Full Year 2015-2027 Results | Estimated To Be Worth USD 551 Million In 2019 And Is Projected To Reach USD 809 Million By 2027: Proficient Market
Proficient Market announces the release of the report “Global Industrial Radiography Market by Product Type (Film-Based and Digital) and by End-Users/Application (Petrochemical & Gas, Power Generation, Manufacturing, Aerospace, Automotive & Transportation and Others) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2015 – 2027″ to its research database. This Industrial Radiography Market report analyzes the comprehensive overview of the market comprising an executive summary that covers core trends evolving in the market.
According to the report, global industrial radiography market in 2019 stood at USD 551 million and is expected to reach USD 809 million by 2027 growing at a CAGR of 8.1% from 2020 to 2027.
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Industrial radiography is a technique which is used for inspection of materials for internal flaws by using short wavelength electromagnetic radiation. The defects which are not visible to naked eye are detected by making use of industrial radiography. This technique is mainly used in flaw detection, crack detection, and surface infection of products in manufacturing plants. Also, the examination of gas & oil pipelines as well as pressure vessels in chemical plants is carried out using industrial radiography.
Global Industrial Radiography Market Key Players: The research study includes profiles of leading companies operating in the global industrial radiography market. Key players profiled in the report include:
Comet Holding AG
Fujifilm Holdings Corporation
and Mettler-Toledo International Inc.
Bosello High Technology SRL
Drivers for the Global Industrial Radiography Market: According to current market condition, rising concerns regarding food safety due to rising number of cases of food borne illness arising from packaged food and beverages is expected to drive the industrial radiography market further across the globe. Moreover, increasing awareness within the consumer population regarding quality packaged food is estimated to help the industrial radiography market grow. Furthermore, with growing automotive industry on account of rise in disposable income, demand for equipment customization is rising which is subsequently impacting the industrial radiography market positively around the globe. Growing research and developmental activities associated with industrial radiography is anticipated to push the market strongly during the forecast period.
Opportunities for the Global Industrial Radiography Market: The rising demand for industrial radiography for various processes for instance, equipment inspection in automotive and manufacturing industries, food quality checking in food and beverage as well as in pharmaceutical industries are expected to create opportunity for the market rapidly over the forecast period. Also, growing aerospace and automotive industry requiring safety components and equipment inspection along with government initiated strict safety regulations in device manufacturing is anticipated to drive the industrial radiography market significantly over the forecast period. Additionally, rapid industrialization and economic development with a thriving manufacturing sector is expected to boost the industrial radiography market in the developed as well as the developing regions across the globe.
Restrains for the Global Industrial Radiography Market: Health issues associated to the use of industrial radiography due to high risk of radiation exposure leading to acute radiation syndrome, skin burns or radiation induced cancer in the human body which is expected to restrict the industrial radiography market. Additionally, cost constraints associated with equipment deployment is anticipated to serve as another restraint in the growth of the industrial radiography market during the forecast period.
Region Wise, Global Industrial Radiography Market Analysis: The market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is the dominating region in the global industrial radiography market, which is expected to continue this dominance in the near future too. The well-developed petroleum, manufacturing, and aerospace industries in this region, contributes to the market growth. North America region is followed by Asia pacific and Europe.
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Global Industrial Radiography Market: Product analysis
The digital radiography segment is expected to expand at a rapid pace throughout the forecast period, because of high accuracy and better image quality of components under consideration offered by this method.
Global Industrial Radiography Market: Application analysis
Petrochemical & Gas
Automotive & Transportation
The demand of global industrial radiography Market is highest from Petrochemical & Gas. As, industrial radiography testing in this end user includes monitoring pipelines, storage tanks, and refining equipment for measuring internal corrosions without externally damaging the material. Industrial radiography is extremely important for the deep-sea oil and natural gas industry. In this industry, oil leaks or spills can occur over a period of time if the infrastructure of the refineries is not monitored carefully, which leads to extremely high costs of cleanup.
Global Industrial Radiography Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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