Research and Markets - Global Industrial Radiography Equipment Market 2016-2020 with 3DX-RAY, Anritsu, Bosello High Technology, COMET, GE Measurement & Control, Mettler-Toledo, Nikon, North Star Imaging & VJ Dominating
The global industrial radiography equipment market to grow at a CAGR of 8.71% during the period 2016-2020.
Non-destructive testing (NDT) techniques are used to find discontinuities in test materials. NDT equipment is used to examine and evaluate the properties of an object, system, or material without damaging it. Some NDT methods such as UT, radiography testing, TOFD testing, and phased array are known for high accuracy, reliability, reproduction of output, and material characterization. NDT equipment comprises three major technologies: ultrasonic, radiography, and visual testing.
A trend which is positively impacting the market is the emergence of portable radiography equipment. The introduction of portable radiography equipment that is fully automated, versatile, and easy to use will generate interest among end-users. These systems reduce the cost of testing, as end-users that do not have in-house radiography equipment often get their products tested at the vendor's location. Portable radiography equipment cost less compared to their conventional counterparts. The adoption of such systems is increasing as end-users can test multiple objects at different locations using a single device.
According to the report, a key growth driver is the increased demand from power generation and oil and gas sectors. Radiography equipment is used for inspection activities in power plants. At power plant sites, radiography equipment is used mainly for quality check and inspection of storage vessels, turbine parts, compressors, and plant infrastructure.
Growing demand for power from developing countries like China, India, and Brazil has resulted in increased construction of multiple new power plants. As a result, the demand for industrial radiography equipment has increased, as the equipment used in these power plants requires stringent testing to maintain high quality and efficiency standards.
Further, the report states that one challenge that could hinder market growth is the adoption of used and refurbished systems.
To calculate the market size, the report considers revenue generated from sales of the following equipment: