Industrial Radiography Market is Expected to Reach USD 539.0 Million by 2020

Date: 2015-10-29

Industrial radiography is a method of inspecting materials for hidden flaws using the capacity of short-wavelength electromagnetic radiation (high-energy photons) to penetrate various materials. In this report, the market has been segregated on the basis of imaging techniques, application industries, and geographical regions. The market on the basis of imaging techniques has been further subdivided into film-based radiography and digital radiography. Digital radiography is further segmented into computed tomography, computed radiography, and direct radiography.
Industrial radiography is widely used in petrochemical and gas, power generation, manufacturing, aerospace, automotive and transportation, and others. The automotive and transportation industry is expected to hold the largest share of the industrial radiography market during the forecast period, mainly because it provides automotive manufacturers the ability to engineer products of higher quality with tighter tolerances, while also providing them a way to inspect the products during the production process.

The total market is expected to reach USD 539.0 million by 2020, at a CAGR of 8.2% between 2015 and 2020. The market for the petrochemical and gas industry is expected to grow at a CAGR of 9.1% during the forecast period mainly owing to the  increasing use of industrial radiography by the petrochemical and gas industry to inspect the manufacturing process and during in-service operations above water and underwater..

The report analyzes the entire market on the basis of all the major geographical regions, namely, the Americas, Europe, Asia-Pacific, and Rest of the World which comprises the Middle East and Africa. The Americas are currently a major market for industrial radiography; however, APAC is expected to grow at the highest CAGR of 9.6% during the forecast period. 

Key players in the industrial radiography market are 3DX-RAY LTD. (U.K.), Anritsu Corporation (Japan), Bosello High Technology srl (Italy), PerkinElmer, Inc. (U.S.), General Electric (U.S.), FUJIFILM Holdings Corporation (Japan), Nikon Corporation (Japan), Shimadzu Corporation (Japan), Mettler-Toledo International Inc. (Switzerland), and  COMET Holding AG (Switzerland) among others.

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