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Radiography Test Equipment Market Size (2024 - 2029)

The radiography test equipment market is experiencing growth driven by increased demand from the aerospace and automotive sectors, which require adherence to stringent industry standards and safety regulations. The transition from analog to digital technology is revitalizing the market, expanding the application of X-ray inspection systems. Companies are focusing on reducing radiation risks and enhancing portability, leading to product portfolio revamps. However, challenges such as competition from ultrasonic systems, radiation risks, and high deployment costs may impede market expansion.

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Market Size of Radiography Test Equipment Industry

radiography test equipment market
Study Period 2019 - 2029
Market Size (2024) USD 1.22 Billion
Market Size (2029) USD 2.12 Billion
CAGR (2024 - 2029) 11.75 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

Radiography Test Equipment Market Analysis

The Radiography Test Equipment Market size is estimated at USD 1.22 billion in 2024, and is expected to reach USD 2.12 billion by 2029, growing at a CAGR of 11.75% during the forecast period (2024-2029).

The Coronavirus (COVID-19)pandemic has affected every aspect of life globally. This has brought along several changes in market conditions and affected the manufacturing and automotive sector for the market majorly. According to the Ministry of Statistic and Program Institute (MOSPI) India, the impact of COVID-19 on Gross value-added on the construction, manufacturing, and mining sector has accounted for -13.3%,-6.3%, and -14.7%, respectively. Thus, the decline in the growth of these industries has reduced the demand for the radiography test equipment process activities that impact the market growth.

  • Increase in demand from aerospace and automotive sectors, primarily due to conformance to high industry standards and safety regulations is boosting the adoption of radiography testing solutions.
  • The shift from analog to digital technology has given the industrial radiography market a new lease of life for NDT applications, broadening the scope of X-ray inspection systems beyond traditional applications.
  • Companies are increasingly focusing on reducing radiation-related risks, and preferring portability solutions, which has prompted companies to revamp their product portfolio. For instance, Samsung has adopted radiography to test their batteries after the much-publicized Note 7 fiasco.
  • Incidents, like the BP Macondo disaster, the San Bruno pipeline explosion, and the BP Texas City refinery explosion, have further emphasized on the need for safety, environmental sustainability, therefore governmental agencies and regional bodies like ASME & ISO have taken stringent measures to assure safety and regulatory compliances.
  • Intense competition from ultrasonic systems, high risk of radiation, lack of skilled personnel, to handle radiography equipment which uses gamma rays (especially in digital radiography). Also, relatively high deployment costs are expected to hinder the growth of the study market.

Radiography Test Equipment Industry Segmentation

Radiographic testing is a non-destructive inspection technique to view the physiological construction of a component by practicing X-Rays or Gamma Rays. Their usage has wide advantages over applications like in aerospace, to inspect the aircraft; in automotive, to maintain the quality assurance, and others. The market also study regarding the geographical trends and segments, along with the impact of covid-19 on the market studied.

Technology
Film Radiography
Computed Radiography
Direct Radiography
Computed Tomography
End-user Vertical
Aerospace and Defense
Energy and Power
Construction
Oil and Gas
Automotive
Manufacturing
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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Radiography Test Equipment Market Size Summary

The radiography test equipment market is poised for significant growth, driven by increasing demand from the aerospace and automotive sectors. This demand is largely due to the need for compliance with stringent industry standards and safety regulations. The transition from analog to digital technology has revitalized the industrial radiography market, expanding the application of X-ray inspection systems beyond traditional uses. Companies are focusing on minimizing radiation risks and enhancing portability, leading to innovations in product offerings. However, challenges such as competition from ultrasonic systems, radiation risks, and high deployment costs may impede market expansion. The market's growth is further supported by the need for safety and environmental sustainability, as highlighted by past industrial incidents, prompting regulatory bodies to enforce strict compliance measures.

In the aerospace sector, radiography test equipment is essential for detecting internal defects in critical components, with a shift from conventional to digital radiography expected to dominate the market. The United States, as a pioneer in manufacturing automation, is leveraging automated solutions to mitigate the shortage of skilled personnel. The Canadian oil and gas industry, driven by attractive provincial incentives, also contributes to the market's growth. Major companies in the market are heavily investing in research and development to enhance equipment accuracy, resulting in a fragmented market landscape. Government initiatives in countries like India aim to boost infrastructure and clean energy sectors, further driving the demand for radiography testing equipment.

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Radiography Test Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Impact of COVID-19 on the Market

    3. 1.3 Market Drivers

      1. 1.3.1 Advent of Portable Radiography Equipment

    4. 1.4 Market Challenges

      1. 1.4.1 High Risk of Radiation Since it Uses Gamma Rays and X-Rays

      2. 1.4.2 Requirement of Highly Skilled Personnel

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Porters Five Force Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology

      1. 2.1.1 Film Radiography

      2. 2.1.2 Computed Radiography

      3. 2.1.3 Direct Radiography

      4. 2.1.4 Computed Tomography

    2. 2.2 End-user Vertical

      1. 2.2.1 Aerospace and Defense

      2. 2.2.2 Energy and Power

      3. 2.2.3 Construction

      4. 2.2.4 Oil and Gas

      5. 2.2.5 Automotive

      6. 2.2.6 Manufacturing

      7. 2.2.7 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East & Africa

Radiography Test Equipment Market Size FAQs

The Radiography Test Equipment Market size is expected to reach USD 1.22 billion in 2024 and grow at a CAGR of 11.75% to reach USD 2.12 billion by 2029.

In 2024, the Radiography Test Equipment Market size is expected to reach USD 1.22 billion.

Radiography Test Equipment Market Report Snapshots

Radiography Test Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)