According to a new market research report “Industrial Radiography Market by Imaging Technique (Film-Based and Digital), Industry (Petrochemical and Gas, Power Generation, Manufacturing, Aerospace, and Automotive and Transportation), and Geography – Global Analysis and Forecast to 2020“, published by Markets and Markets, the global Industrial Radiography Market is expected to grow at a Compound Annual Growth Rate of 8.2% between 2015 and 2020 and reach $539 Million by the year 2020.
The increasing adoption of modern industrial radiography techniques in the automotive and aerospace industry has helped to improve the productivity of manufacturing plants while reducing the wastage significantly. The automotive and transportation application currently dominates the overall industrial radiography market. Industrial radiography has become one of the important tools for automotive manufacturers to engineer products of high quality with tighter tolerances, while also providing them a way to inspect the products during the production.
The report covers all the aspects of the industrial radiography market, namely, opportunities, drivers, and restraints in detail. In this report, the overall market has been divided into 3 major segments, namely, imaging techniques, application industries, and geography. The market is segmented on the basis of imaging techniques into film-based radiography and digital radiography. Digital radiography is further segmented into computed tomography, computed radiography, and direct radiography. The application industries include petrochemical and gas, power generation, manufacturing, aerospace, automotive and transportation, including others. The increasing demand for industrial radiography in the petrochemical and gas industry is driving this market and it is expected to grow at a high Compound Annual Growth Rate of 9.1% during the forecasted period.
The geographical split of the industrial radiography market has been included in the report. The overall market has been divided into 4 major geographical regions, namely, the Americas, Europe, Asia-Pacific, and the Rest of the World, including the Middle East and Africa. Of these, the Americas led the industrial radiography market in 2014 and its dominance is expected to continue during the forecasted period. The Asia-Pacific market is expected to have an increasing demand for industrial radiography during the forecast period.
Credit Article/Photo: PRNewswire – MarketsandMarkets (Mr. Rohan)