Industrial Radiography Market worth $784 million by 2025

Friday 24 April 2020, Amsterdam

The report "Industrial Radiography Market by Imaging Technique (Film-based Radiography, Digital Radiography), End User (Petrochemicals & Gas, Power Generation, Manufacturing, Aerospace, and Automotive & Transportation), and Geography - Global Forecast to 2025", is estimated to grow from USD 532 million in 2020 to USD 784 million by 2025; growing at a CAGR of 8.1% during the forecast period. Major factors fueling the market growth are advancements in software that are integrated into radiography systems, stringent regulations by various governments regarding industrial safety and product quality, increasing demand for NDT services in automotive and aerospace industries, and the preventive maintenance of industrial equipment.

Digital radiography to lead industrial radiography market in 2025

Digital radiography is the latest development in industrial X-ray imaging. A digital image-capturing device is used in digital radiography instead of X-ray films. Further, digital radiography has made radiography systems easy-to-use, safe, and fast, thus driving its adoption for industrial applications than that of traditional film-based radiography.

Market for petrochemicals & gas end user to grow at higher CAGR during forecast period

The rising adoption of industrial radiography equipment for inspecting the welds of pipelines and pressure vessels in the petrochemical & gas industry is expected to drive the growth of the industrial radiography market during the forecast period. Further, workplace safety is of utmost importance in this industry hence, radiographic techniques are used to keep constant checks on the equipment, which further encourages the adoption of Industrial radiography equipment.

Market in APAC to grow at highest CAGR during forecast period

The industrial radiography market in APAC is growing rapidly due to several advancements and technological innovations in different manufacturing industries. The adoption of industrial radiography solutions is high in APAC due to the growing manufacturing sector in the region. The adoption of automation in manufacturing and rapid infrastructural growth in countries such as India and China are the major factors driving the growth of the industrial radiography market in this region. The aerospace and defense industries also contribute to the growth of the industrial radiography market as many countries in APAC are involved in the manufacturing of defense aircraft.

Major players in the industrial radiography market are 3DX-Ray LTD (U.K.), Anritsu Corporation (Japan), Bosello HT (Italy), PerkinElmer, Inc. (U.S.), General Electric (U.S.), and FujiFilm Holdings Corporation.