Industrial radiography equipment: Key market research findings
- Increasing demand to reduce radiation exposure drives market
- The Americas dominate the market geographically
- Key vendors – 3DX-RAY, ANRITSU INFIVIS, Bosello High Technology, COMET, GE, Mettler-Toledo, Nikon, North Star Imaging, and VJ Technologies
Technavio’s market research analysts predict the global industrial radiography equipment market to grow at a CAGR of almost 9% between 2016 and 2020. The demand for industrial radiography equipment is growing due to the need to minimize radiation exposure. Digital radiography equipment helps industries achieve regulatory standards by complying with stringent inspection legislations. During 2015, the Americas dominated the global industrial radiography equipment market by accounting for almost 38% of the total market share. The growing need for improved and rapid imaging methods and the replacement of old computed radiography and digital radiography systems are factors driving growth in the industrial radiography equipment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the industrial radiography equipment segments based on the technology.
“The emergence of portable radiography equipment is the latest trend in the market. Portable radiography equipment is fully automated, versatile, and easy to use. They reduce the cost of testing by eliminating the need for in-house radiography equipment. Portable radiography equipment is gaining traction in the market as it enables the testing of multiple objects at different locations using a single device,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The digital radiography segment accounts for almost 71% of the overall market space to become the dominant shareholder in the global industrial radiography equipment market. In digital radiography, the inspection is computer-aided, which ensures accurate results, consistent image quality, less radiation level, and low per image cost. Advances in technology, such as dual-energy subtraction, are expected to fuel growth in the digital industrial radiography equipment market in the coming years.
The key vendors in the market include 3DX-RAY, ANRITSU INFIVIS, Bosello High Technology, COMET, GE, Mettler-Toledo, Nikon, North Star Imaging, and VJ Technologies. Due to the presence of numerous industrial radioactive equipment suppliers offering similar products, this market appears highly competitive. Focusing on product improvements, providers extensively invest in R&D to develop a broad range of advanced and high-end industrial radiography equipment. The availability of similar products leads to price wars and vendors focus on providing products at a comparatively lower price than others.
A more detailed analysis is available in the Technavio report, Industrial Radiography Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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