The global industrial linear accelerator market is expected to exhibit a robust growth of around 6.3% CAGR over the projection period from 2022 to 2032. The global market is expected to reach US$ 2,979.8 Million in 2022 and is likely to be valued at US$ 5,486.4 Million by 2032. According to the historical evaluation of the market, it accounted for around 4.5% CAGR from 2016 to 2021. In addition to that, it also utilizes scanning devices for vehicles and cargo since they do not disturb the material being inspected along with saving time and money during inspecting materials in the security sector.
Demand for industrial linear accelerators is on the rise majorly because it is utilized for non-destructive testing that assists in evaluating the properties of different material without damaging them. A wide range of applications has been adopted by the industrial linear accelerators in both private and government sectors during the forecast period.
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The market is anticipated to surge at a phenomenal pace with a high CAGR during the forecast period. Furthermore, the industrial linear accelerator is massively utilized for maintenance services and manufacturing industries. Such as cargo inspection, medical waste disposal, agriculture, food irradiation, gemology, aerospace, automotive, rocket motors, castings inspection, and missile/defense systems. All these end-use industries are driving the industrial linear accelerator market growth throughout the projection period.
Key Takeaways
- The market is being fueled over the assessment period due to the rising scanning equipment in industries and increasing awareness among people. Whereas on the other hand, surging demand for high yields and decreasing costs without compromising quality is growing the market size during the forecast period. Industrial linear accelerators are utilized in radiation therapy in order to treat cancer, increasing the demand for industrial linear accelerators in the medical sector.
- LINAC is known as a device that efficiently treats cancer patients due to its cost-effectiveness. Marketers are good at observing patient behaviors and patients are drastically shifting towards non-invasive treatment processes which are likely to surge the adoption of industrial linear accelerators in recent years. This therapy offers advanced treatment and is applicable for various cancers with surgery and other procedures.
- In addition to that, industrial linear accelerators are gradually becoming an integral part of several industries such as food and preservative, mining, metal casting, waste management industries, etc., which is resulting in flourishing market growth. However, the present trend is used for better technology and equipment in order to get better results which will increase the demand for industrial linear accelerators during the forecast period.
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Competitive Landscape
The market is fragmented by several key vendors present during the market during the forecast period. These key vendors are innovating products and focusing on the customer’s requirements during the forecast period.
Some of the key players in the market are:
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Wasik Associates Inc.
- VIVIRAD S.A
- Iotron Industries Canada, Inc.
- IBA group
- Jiangsu dasheng accelerator manufacturer co., LTD
- DIONDO GMBH
- High Voltage Engineering Europa B.V. (HVE)
- NISSIN ELECTRIC Co.,Ltd.
- Varian Medical Systems, Inc.
More Insights into the Industrial Linear Accelerator Market
The global market is segmented into several prominent regions including North America, Europe, Asia Pacific, Latin America, and MEA. Europe is expected to account for 28% of the total share of the industrial linear accelerator market over the projection period. In addition to that, the major consumers in the market are focusing on extensive applications of industrial linear accelerators in the manufacturing industry. However, increasing globalization, evident from the increase in international trade and outbound-inbound, led to positive growth in the European industrial linear accelerator.
The North American industrial linear accelerator market is expected to secure a surprising CAGR of 24% throughout the forecast period. A reasonable increase in industrial production is witnessed in several countries including the United States, with high growth in PMI (purchase manager index) numbers, which accelerates the market growth during the forecast period. Moreover, rising advanced technologies are surging the demand for industrial linear accelerators in North America in recent years.
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Table of Content
1. Executive Summary
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
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