The global demand for radiography test equipment was valued at USD 18 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.3%, reaching an estimated USD 35 billion by 2032. This growth is fueled by the expanding construction and manufacturing sectors, along with an increasing need for radiography testing equipment in material science research across both developed and emerging markets.
Radiography test equipment is a type of non-destructive testing equipment, and it is used in a wide range of applications which includes engineering, forensics, and medicine. The increasing adoption of radiography test equipment for inspecting materials for hidden flaws is one of the major factors which drives the growth of radiography test equipment market. Also, the growing usage of radiography test equipment because of its ability to use short wavelength electromagnetic radiation to penetrate various materials for image processing is also supporting the growing adoption of radiography test equipment.
Radiography test equipment is testing equipment which is used for verifying the internal structure and integrity and for ensuring the asset reliability for controlling the manufacturing process. The rising need for enhancing the life of aging assets and to expand their capabilities is creating potential growth opportunities for the radiography test equipment market. Also, the increasing number of safety, reliability, and environmental standards for industrial products is compelling various industries for the adoption of radiography test equipment and therefore, due to these factors, the radiography test equipment market is expected to expand rapidly in coming few years.
Radiography Test Equipment Market: Drivers and Challenges
The increasing usage of radiography test equipment for industrial radiography applications is the key factor driving the growth of radiography test equipment market. Moreover, the continuous adoption of radiography test equipment in manufacturing industries such as electronics, pulp & paper, and semiconductors for testing equipment while adhering to industry regulations is also one of the major factors which is enhancing the growth of radiography test equipment market.
Apart from this, the increasing industrial radiography market along with the growing investments in the industrial infrastructure development is promoting the growth of radiography test equipment market. Moreover, government organizations such as ISO (International Organization for Standardization) and ASME (American Society of Mechanical Engineers) have established measures for assuring the safety of instruments and for the administration of engineering testing services which is generating high demand for radiography test equipment.
The health risk associated with the radiation is the key challenge for the growth of radiography test equipment market. Also, the lack of skilled professionals and high cost of radiography test equipment are also some of the major factors which hampers the growth of radiography test equipment market.
Key Companies Profiled
- General Electric Company
- Nikon Metrology Inc.
- YXLON International
- Olympus Corporation
- Hitachi Ltd.
- Rigaku Corporation
- Carl Zeiss X-Ray Technologies S.r.l
- Canon Inc.
- North Star Imaging Inc.
- Hamamatsu Photonics KK
Key Segments Profiled in the Radiography Test Equipment Industry Survey
By Imaging Methods:
- Film
- Digital
- Computed
- Real-Time
- Computed Tomography
By Industry:
- Automotive
- Aerospace & Defence
- Oil & Gas
- Petrochemicals
- Energy & Power
- Other Industries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/radiography-test-equipment-market
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