NEWARK, Del, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The report highlights that the worldwide industrial radiography market is poised to achieve a value of US$ 649.5 million in 2023, with a projected consistent CAGR of 8.3% from 2023 to 2033. The demand for industrial radiography is on track for a substantial increase, projected to reach around US$ 1,446.0 million by 2033. The digital radiography segment is expected to lead the industry, maintaining a significant 63.4% market share over the same period.
Factors Shaping the Industrial Radiography Industry:
Pioneering Precision: Empowering Industries with Specialized Radiography Services for Accurate Defect Detection and Quality Assessment.
Trailblazing Radiography Firms: Transformative Technology and Expertise by Esteemed Radiography Companies Across Varied Sectors.
Propelling NDT Progress: Radiography's Vital Role in Non-Destructive Testing, Safeguarding Structural Soundness and Operational Security.
Metamorphosis of Radiography Gear: Elevating Inspection Precision and Efficiency through Cutting-Edge Radiography Equipment.
Radiography's Technological Wonders: Redefining Inspection Capabilities with Innovations like Digital Radiography and Computed Tomography.
Download the PDF Sample Summary to learn how to reach a US$ 1,446.0 million Industrial Radiography Market revenue by 2033.
Industrial Radiography Market: Category-wise Insights
In 2023, the United States dominate the industrial radiography market with a 15.2% market share, driven by integrating artificial intelligence (AI) algorithms into radiographic analysis.
Germany follows with a 9.2% market share, characterized by the fusion of radiographic data with digital twin technology. Japan holds a 6.4% market share, with a focus on augmented reality (AR) in radiographic training and analysis.
Australia's market is steadily evolving with a CAGR of 2.8% through 2033, with an increasing reliance on drones for radiographic inspection in remote and challenging environments.
China's robust CAGR of 10.3% through 2033 is propelled by the rapid adoption of radiographic robotics, enhancing worker safety and efficiency.
India's industrial radiography industry is expected to expand at a CAGR of 12.3% through 2033, with the symbiotic integration of radiography with AI algorithms.
The United Kingdom is poised for a CAGR of 8.2%, focusing on radiographic data analytics for predictive maintenance and performance optimization. These trends highlight the global commitment to radiographic excellence, driven by technological innovation and the pursuit of operational efficiency.
Industrial Radiography Market Research Report Scope:
| Report Attribute | Details | |||
| Growth Rate | CAGR of 8.3% from 2023 to 2033 | |||
| Market Value in 2023 | US$ 649.5 million | |||
| Market Value in 2033 | US$ 1,446.0 million | |||
| Base Year for Estimation | 2022 | |||
| Historical Data | 2018 to 2022 | |||
| Forecast Period | 2023 to 2033 | |||
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 | |||
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | |||
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Industrial Radiography Market: Competitors’ Winning Strategies
Competitors in the industrial radiography market focus on developing new products and services that their customers demand. With this, they stay ahead in the market. They are expanding their businesses into new markets like the automotive industries. From this, they can get new customers from new markets. They are also building partnerships with other businesses. With this, they can expand their reach and access new technologies.
YXLON International, DanDong Huari, Nikon Metrology, Nordson, Aolong Group, COMET Group, Fujifilm, General Electric (GE), Hitachi, and Shimadzu are some of the competitors in the industrial radiography market.
Recent Developments
- YXLON International introduced a new cloud-based radiography software system that enables customers to view and control radiography data from anywhere globally. The software is aimed to facilitate cooperation and communication amongst radiography teams.
- DanDong Huari created new portable radiography equipment that utilizes AI to spot faults in welds automatically. The device may be used to check welds in real-time without human involvement.
- Nikon Metrology unveiled a new 3D X-ray scanner that can scan items up to 10 meters in length. The scanner is developed for usage in the aerospace and automotive sectors, where it may be utilized to check big elements.
- Nordson released a new radiography software platform that enables customers to build and handle radiography processes. The platform provides a collection of pre-built procedures and a tool for constructing bespoke processes.
Get a detailed competition analysis, sales footprint, product portfolio, and strategy overview with this comprehensive report. Buy now at a discounted price: https://www.futuremarketinsights.com/checkout/1154
Comparative View of the Adjacent Industrial Radiography Market
Digital Radiography Sensor Market, is expected to reach US$ 5.28 Billion by 2032, the growth is fuelled by increasing demand for high-resolution imaging in medical diagnostics and industrial flaw detection.
Radiography Test Equipment Market 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.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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