Global radiography test equipment demand is anticipated to be valued at US$ 18 Billion in 2021, forecast to grow at a CAGR of 6.3% to be valued at US$ 35 Billion from 2022 to 2032. Growth is attributed to increasing growth in construction and manufacturing industries coupled with rising demand for radiography testing equipment for material science research in both developed and developing economies.
Report Attribute | Details |
---|---|
Estimated Base Year Value (2021) | US$ 18 Billion |
Expected Market Value (2022) | US$ 19 Billion |
Anticipated Forecast Value (2032) | US$ 35 Billion |
Projected Growth Rate (2022 to 2032) | 6.3% CAGR |
Radiography test equipment is employed in industrial radiography applications which is the primary driver of the market. With the rise in investments in industrial infrastructure, growth is inevitable for the radiography test equipment industry.
Radiography test equipment is employed to test material content used in cement, asphalt, bituminous rocks, and others. Furthermore, this is considered a prerequisite before engaging in any construction activity. With the rise in construction industries and material science labs to conduct testing operations, North America, Europe, and Asia Pacific are expanding. Radiography uses a safe technique to identify internal flaws such as fissures in the material. The technique involves subjecting the material to an ultrasonic wave passing through it and eliminating the requirement of intrusive destructive testing.
Aging infrastructure coupled with incendiary reactions causing fire eruptions in exploding pipelines and power plant leakages drive the market.
The market is being pulled down because of the high costs of the equipment, lack of experienced technicians, and risks of high exposure to radiation have pulled the plugs on the radiography test equipment market.
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Radiography test equipment growth lies in demand from aerospace and automotive sectors with safeguards prominent to industry growth. With the prevalence of digitalization over analogue systems, the radiography test equipment market is emerging as a key industry in different verticals.
When a robust concrete structure shows anomalies in the grain direction and strength, the radiography test equipment market is a viable solution for detecting the variations likewise. Safeguards to electrical equipment are also exhibiting diverse growth in the market which adds to the market growth of the radiography testing equipment market.
Swift development in the manufacturing industry in regional markets including Asia Pacific with countries such as India, China, and Japan is driving the radiography test equipment market. The inherent use of radiography equipment in industries such as electronics, pulp and paper, and semiconductors for testing equipment and complying with industrial regulations is driving the radiography test equipment market.
Some prominent industrial bodies such as the Internal Organization for Standardization (ISO) and the American Society of Mechanical Engineering (ASME) have made it mandatory to follow guidelines to maintain instrument safety which drives the growth prospects of the radiography test equipment market.
The primary challenge the radiography test equipment industry faces is the health constraints associated with exposure to radiation. The other constraints include the dearth of skilled technicians and the high cost of radiography test equipment which are major factors causing growth to backfire in the radiography test equipment market.
Asia Pacific is witnessing overpowering industrial activity in the region with a boom in the manufacturing, energy, and power sectors. This has created a rapid penetration in the Asia-Pacific market which is expected to grow at a high CAGR during the forecast period.
According to Future Market Insights, North America is expected to hold a major market share in terms of value in the radiography test equipment market due to the rapid adoption of radiography test equipment and non-destructive testing technologies across various industries such as automotive and aerospace, and defense. Furthermore, the radiography test equipment market in the region benefits from high access to skilled labor in the United States of America.
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Some of the major players covered in the radiography test equipment market report are Siemens Healthcare GmbH, Jones X-Ray, Inc, Konica Minolta Business Solutions India Private Limited, Euroteck Systems, Multi, Inc, MXR Imaging Inc, Desert Health Imaging Technologies, LLC, FUJIFILM Corporation and Koninklijke Philips N.V, Johnson and Johnson Services, Inc., B. Braun Melsungen AG, MedicalTek Co., Ltd., and Solos Endoscopy, among other domestic and global players
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 6.3% from 2022 to 2032 |
Market Value in 2022 | US$ 19 Billion |
Market Value in 2032 | US$ 35 Billion |
Base Year for Estimation | 2021 |
Historical Data | 2015 to 2021 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
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Regions Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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Customization | Available Upon Request |
FMI projects the global radiography test equipment market to expand at a 6.3% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic radiography test equipment market expanding at a CAGR
Siemens Healthcare GmbH, Jones X-Ray, Inc, Konica Minolta Business Solutions India Private Limited, Euroteck Systems, are some prominent radiography test equipment manufacturers
1. Executive Summary | Radiography Test Equipment Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and Their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Imaging Methods 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Imaging Methods, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Imaging Methods, 2022 to 2032 5.3.1. Film Radiography 5.3.2. Digital Radiography 5.3.3. Computed Radiography 5.3.4. Real-time Radiography 5.3.5. Computed Tomography 5.4. Y-o-Y Growth Trend Analysis By Imaging Methods, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Imaging Methods, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Industry 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Industry, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Industry, 2022 to 2032 6.3.1. Automotive 6.3.2. Aerospace & Defence 6.3.3. Oil & Gas 6.3.4. Petrochemical 6.3.5. Energy & Power 6.3.6. Others 6.4. Y-o-Y Growth Trend Analysis By Industry, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Industry, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia & Pacific 7.3.6. Middle East and Africa(MEA) 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Imaging Methods 8.2.3. By Industry 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Imaging Methods 8.3.3. By Industry 8.4. Key Takeaways 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. Mexico 9.2.1.2. Brazil 9.2.1.3. Rest of Latin America 9.2.2. By Imaging Methods 9.2.3. By Industry 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Imaging Methods 9.3.3. By Industry 9.4. Key Takeaways 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. United Kingdom 10.2.1.5. Spain 10.2.1.6. BENELUX 10.2.1.7. Russia 10.2.1.8. Rest of Europe 10.2.2. By Imaging Methods 10.2.3. By Industry 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Imaging Methods 10.3.3. By Industry 10.4. Key Takeaways 11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Imaging Methods 11.2.3. By Industry 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Imaging Methods 11.3.3. By Industry 11.4. Key Takeaways 12. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. ASEAN 12.2.1.3. Australia and New Zealand 12.2.1.4. Rest of South Asia & Pacific 12.2.2. By Imaging Methods 12.2.3. By Industry 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Imaging Methods 12.3.3. By Industry 12.4. Key Takeaways 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. Turkey 13.2.1.3. South Africa 13.2.1.4. Rest of Middle East and Africa(MEA) 13.2.2. By Imaging Methods 13.2.3. By Industry 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Imaging Methods 13.3.3. By Industry 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2021 14.1.2.1. By Imaging Methods 14.1.2.2. By Industry 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2021 14.2.2.1. By Imaging Methods 14.2.2.2. By Industry 14.3. Mexico 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2021 14.3.2.1. By Imaging Methods 14.3.2.2. By Industry 14.4. Brazil 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2021 14.4.2.1. By Imaging Methods 14.4.2.2. By Industry 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2021 14.5.2.1. By Imaging Methods 14.5.2.2. By Industry 14.6. Italy 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2021 14.6.2.1. By Imaging Methods 14.6.2.2. By Industry 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2021 14.7.2.1. By Imaging Methods 14.7.2.2. By Industry 14.8. United Kingdom 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2021 14.8.2.1. By Imaging Methods 14.8.2.2. By Industry 14.9. Spain 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2021 14.9.2.1. By Imaging Methods 14.9.2.2. By Industry 14.10. BENELUX 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2021 14.10.2.1. By Imaging Methods 14.10.2.2. By Industry 14.11. Russia 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2021 14.11.2.1. By Imaging Methods 14.11.2.2. By Industry 14.12. China 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2021 14.12.2.1. By Imaging Methods 14.12.2.2. By Industry 14.13. Japan 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2021 14.13.2.1. By Imaging Methods 14.13.2.2. By Industry 14.14. South Korea 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2021 14.14.2.1. By Imaging Methods 14.14.2.2. By Industry 14.15. India 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2021 14.15.2.1. By Imaging Methods 14.15.2.2. By Industry 14.16. ASEAN 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2021 14.16.2.1. By Imaging Methods 14.16.2.2. By Industry 14.17. Australia and New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2021 14.17.2.1. By Imaging Methods 14.17.2.2. By Industry 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2021 14.18.2.1. By Imaging Methods 14.18.2.2. By Industry 14.19. Turkey 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2021 14.19.2.1. By Imaging Methods 14.19.2.2. By Industry 14.20. South Africa 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2021 14.20.2.1. By Imaging Methods 14.20.2.2. By Industry 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Imaging Methods 15.3.3. By Industry 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. General Electric 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Nikon Metrology Inc. 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. YXLON International 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Olympus Corporation 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Hitachi Ltd. 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Rigaku Corporation 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Carl Zeiss X-ray Technologies Srl 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Canon Inc. 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. North Star Imaging Inc. 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. Hamamatsu Photonics KK. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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