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Global Industrial Radiography Market to reach USD 992.01 billion by 2028.

Global Industrial Radiography Market Size study, By Type (Film-based Radiography, Digital Radiography), By End-User (Petrochemical & Gas, Power Generation, Manufacturing, Aerospace, Automotive & Transportation), and Regional Forecasts 2022-2028

Product Code: OIRIME-68434881
Publish Date: 10-05-2022
Page: 200

Global Industrial Radiography Market is valued at approximately USD 575.09 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.10% over the forecast period 2022-2028. Industrial radiography is a method of non-destructive testing that uses ionizing radiation to scrutinize the components and materials to locate and quantify shortcomings and degradation in the properties that can lead to the failure of engineering structures. Industrial radiography is used for detecting cracks and flaws, as well as surface infection of products in manufacturing plants. The thriving growth of the automotive and aerospace industry increased accuracy of inspection with the integration of advanced software, and imposition of stringent government policies are key factors bolstering the market demand across the globe. For instance, as per Crescendo Worldwide in 2018, the global automotive industry has grown by around 3 %. The annual sales of automobiles are projected to reach approximately 110 million units by 2022. It is found that globally around 70 million cars and about 25 million commercial cars, vans, trucks, and buses were made in 2018 and the output was equivalent to a global turnover of about USD 2 trillion. Consequentially, the rapid growth of the automotive industry is positively influencing the market demand, which, in turn, leads the market development at a substantial rate. However, the high risk of radiation since it uses gamma rays, X-Rays, and high deployment costs impede the growth of the market over the forecast period of 2022-2028. Also, emerging economic developments and increasing R&D investments are anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Industrial Radiography Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is leading the global market in terms of market share owing to increasing investments in R&D activities and rising government support. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as exponential growth of end-use industries, as well as development of the emerging countries such as India and China, would create lucrative growth prospects for the Industrial Radiography Market across the Asia-Pacific region.

Major market players included in this report are:
3DX-RAY Ltd.
Bosello High Technology SRL
Anritsu Corporation
General Electric
PerkinElmer Inc.
FUJIFILM Holdings Corporation
Shimadzu Corporation
Nikon Corporation
Mettler-Toledo International Inc.
COMET Holding AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Film-based Radiography
Digital Radiography
By End-User:
Petrochemical & Gas
Power Generation
Manufacturing
Aerospace
Automotive & Transportation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Industrial Radiography Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Industrial Radiography Market, by Region, 2020-2028 (USD Billion)
1.2.2. Industrial Radiography Market, by Type, 2020-2028 (USD Billion)
1.2.3. Industrial Radiography Market, by End-User, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Industrial Radiography Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Industrial Radiography Market Dynamics
3.1. Industrial Radiography Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Thriving growth of the automotive and aerospace industry
3.1.1.2. Increased accuracy of inspection with the integration of advanced software
3.1.2. Market Challenges
3.1.2.1. High risk of radiation since it uses gamma rays, X-Rays
3.1.2.2. High deployment costs
3.1.3. Market Opportunities
3.1.3.1. Emerging economic developments
3.1.3.2. Increasing R&D investments
Chapter 4. Global Industrial Radiography Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Industrial Radiography Market, by Type
6.1. Market Snapshot
6.2. Global Industrial Radiography Market by Type, Performance – Potential Analysis
6.3. Global Industrial Radiography Market Estimates & Forecasts by Type, 2018-2028 (USD Billion)
6.4. Industrial Radiography Market, Sub Segment Analysis
6.4.1. Film-based Radiography
6.4.2. Digital Radiography
Chapter 7. Global Industrial Radiography Market, by End-User
7.1. Market Snapshot
7.2. Global Industrial Radiography Market by End-User, Performance – Potential Analysis
7.3. Global Industrial Radiography Market Estimates & Forecasts by End-User, 2018-2028 (USD Billion)
7.4. Industrial Radiography Market, Sub Segment Analysis
7.4.1. Petrochemical & Gas
7.4.2. Power Generation
7.4.3. Manufacturing
7.4.4. Aerospace
7.4.5. Automotive & Transportation
Chapter 8. Global Industrial Radiography Market, Regional Analysis
8.1. Industrial Radiography Market, Regional Market Snapshot
8.2. North America Industrial Radiography Market
8.2.1. U.S. Industrial Radiography Market
8.2.1.1. Type breakdown estimates & forecasts, 2018-2028
8.2.1.2. End-User breakdown estimates & forecasts, 2018-2028
8.2.2. Canada Industrial Radiography Market
8.3. Europe Industrial Radiography Market Snapshot
8.3.1. U.K. Industrial Radiography Market
8.3.2. Germany Industrial Radiography Market
8.3.3. France Industrial Radiography Market
8.3.4. Spain Industrial Radiography Market
8.3.5. Italy Industrial Radiography Market
8.3.6. Rest of Europe Industrial Radiography Market
8.4. Asia-Pacific Industrial Radiography Market Snapshot
8.4.1. China Industrial Radiography Market
8.4.2. India Industrial Radiography Market
8.4.3. Japan Industrial Radiography Market
8.4.4. Australia Industrial Radiography Market
8.4.5. South Korea Industrial Radiography Market
8.4.6. Rest of Asia Pacific Industrial Radiography Market
8.5. Latin America Industrial Radiography Market Snapshot
8.5.1. Brazil Industrial Radiography Market
8.5.2. Mexico Industrial Radiography Market
8.6. Rest of The World Industrial Radiography Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. 3DX-RAY Ltd.
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Bosello High Technology SRL
9.2.3. Anritsu Corporation
9.2.4. General Electric
9.2.5. PerkinElmer Inc.
9.2.6. FUJIFILM Holdings Corporation
9.2.7. Shimadzu Corporation
9.2.8. Nikon Corporation
9.2.9. Mettler-Toledo International Inc.
9.2.10. COMET Holding AG
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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