Global Industrial Radiography Market Analysis, Trends, and Industry Size will grow with a CAGR of 7.20% by 2032

The Industrial Radiography Market demonstrates notable revenue growth in the future. Rising demand for improved and efficient productivity from the manufacturing units is a key market driver. Market Research Future (MRFR) states that the global industrial radiography market will escalate from USD 142.1 BN in 2022 to USD 0.93 BN by 2032, registering a 7.20% CAGR during the forecast period (2023-2032).

Besides, the increasing adoption of consumer electronics boosts the industrial radiography market size. The wide use of industrial radiography testing in manufacturing and military & civil aircraft maintenance substantiates the market shares. Also, the growing global energy demand and the stable growth in the petrochemical, gas, and energy & power sectors worldwide accelerate industrial radiography market revenues.

In the energy industry, industrial radiography testing is widely used to detect infrastructure/equipment defects. Growing investments in the energy sectors drive opportunities in the industrial radiography market. In the aerospace sector, radiography testing is used to identify internal defects in thick & complex, metallic & non-metallic shapes and verify the quality of critical aerospace components, structures, and assemblies.

Major Players 

Leading industrial radiography market Players include

• Fujifilm Holdings Corporation (Japan)
• General Electric Company (US)
• Nikon Corporation (Japan)
• Baker Hughes (US)
• Shimadzu Corporation (Japan)
• Anritsu Corporation (Japan)
• PerkinElmer Inc. (US)
• Mettler-Toledo (US)
• 3DX-Ray Ltd. (UK)
• COMET Holding AG (Switzerland)
• Bosello High Technology Srl (Italy)

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Industrial Radiography Market – Segments

The market report is segmented into components, imaging technology, radiation types, end-users, and regions. The component segment is sub-segmented into hardware and software. The imaging technology segment is sub-segmented into film-based radiography and digital radiography.

The radiation type segment is sub-segmented into x-rays and gamma rays. The end-user segment is sub-segmented into automotive, consumer electronics, oil & gas, aerospace & defense, manufacturing, power generation, and others. By region, the industrial radiography market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Industrial Radiography Market – Regional Analysis 

The Asia-Pacific region dominates the global industrial radiography market. Rigid government regulations regarding safety create a huge demand for industrial radiography equipment. Besides, growing technological advances and the rising focus of manufacturers on R&D boost the industrial radiography market size. The presence of a number of key players in this region substantiates the industrial radiography market share. Also, the introduction of multiple safety standards in industrial environments creates opportunities for the market to grow.

Industrial Radiography Market – Competitive Analysis

The industrial radiography market appears highly competitive, owing to the presence of several large-scale players. Industry players incorporate strategic approaches such as mergers & acquisitions, collaborations, expansion, and product/technology launches to gain a larger competitive share. They consistently focus on developing the latest communication networking technologies and interoperability solutions.

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Industry/Innovation/Related News: 

May 03, 2022 — Waygate Technologies showcased its premium products, including industrial radiography (X-ray), computed tomography (CT), visual inspection (RVI), and ultrasonic testing (UT) at the CONTROL exhibition. The company’s main focus was on the microCT system Phoenix V|tome|x M. Waygate Technologies is a Baker Hughes business and leader in non-destructive testing (NDT) solutions for industrial inspection.  

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