Global Industrial Computed Radiography Market

MARKET SCOPE:

The global Industrial Computed Radiography market is projected to grow significantly, registering a CAGR of 6.9% during the forecast period (2024 – 2032).

Industrial Computed Radiography (CR) stands out as a sophisticated non-destructive testing method widely employed across diverse industrial sectors to meticulously examine and evaluate the internal structure of materials and components. This advanced technology utilizes either X-rays or gamma rays to generate digital images capturing the internal features of objects, including welds, castings, and other materials vital for industrial applications. The procedure entails subjecting the object to radiation, where digital detectors like phosphor plates or sensors capture the transmitted radiation to form digital images. Unlike conventional radiography relying on film, industrial computed radiography provides the advantage of immediate access to digital data, facilitating prompt and effective analysis. Employing specialized software, inspectors can process these digital images, enhancing visibility to identify defects or irregularities in materials, such as cracks or voids. Industries such as aerospace, automotive, manufacturing, and petrochemicals rely on industrial computed radiography for its swiftness, precision, and the capability to manipulate digital images for superior defect detection. This technology significantly contributes to enhancing quality control and ensuring safety in various industrial processes.

MARKET OVERVIEW:

Driver: Increasing demand for improved and efficient productivity is fueling the industry expansion.

The growth of the industrial radiography market is influenced by the increasing need for enhanced and efficient productivity in manufacturing units. Industrial radiography offers the capability to permanently document information about substances or objects, contributing to overall efficiency improvements. The growing demand for heightened productivity from manufacturing units and the increasing adoption of testing technology by automotive, aerospace, and defense manufacturing companies to rectify defects and flaws are key factors driving market growth. Additionally, stringent government regulations pertaining to safety and the meticulous inspection requirements imposed by several manufacturers are significant contributors to the global expansion of the industrial radiography market. Furthermore, the market is propelled by the expanding acceptance and utilization of consumer electronics, where radiography equipment plays a role in reducing device failure and maintenance costs. The competition among manufacturers for quality standards is expected to further advance the industrial radiography market in the foreseeable future. Moreover, the industrial radiography market is anticipated to find diverse applications across various sectors such as petrochemical and gas, manufacturing, automotive and transportation, aerospace, and power generation, driven by the increasing demand for high-quality and cost-effective products. The aerospace and automotive industries, in particular, are experiencing rising demand due to strict safety standards implemented by governments and the emphasis on preventive maintenance of industrial equipment. These factors collectively contribute to the growth of industrial radiography market revenue.

Opportunities: Nondestructive testing is anticipated to pave the way for industrial computed radiography market growth in the upcoming years.

Computed radiography, a form of non-destructive testing (NDT), is employed in industrial environments to verify the safety and integrity of manufactured components and assemblies. For instance, in industries like oil and gas, NDT plays a crucial role in ensuring the fitness for purpose of all in-service and critical parts. The pipes used for the transportation of oil or gas are pivotal components that require meticulous maintenance and inspection. Consequently, the rising demand for NDT across industries is leading to an increased adoption of computed radiography techniques in industrial applications. Moreover, the surge in automation within the industrial manufacturing and infrastructure sectors has generated substantial demand for flaw detection, encompassing issues such as cracks, porosity, and manufacturing disorders.

Additionally, various governmental agencies and regional bodies, including the American Society of Mechanical Engineers (ASME) and the International Organization for Standardization (ISO), have implemented stringent measures to guarantee instrument safety and oversee testing in engineering services. This has contributed to a growing demand for non-destructive testing across diverse industries. Furthermore, in the aerospace sector, computed radiography applications involve the detection of internal defects in thick and intricate shapes, both metallic and non-metallic. This technology assesses the quality of critical aerospace components, structures, and assemblies. The computed radiography market in the aerospace segment is driven by factors such as an increased focus on safety standards, reduced service intervals, adherence to low emission targets, and the introduction of new materials and processes.

COVID IMPACT:

The global industrial computed radiography market has witnessed significant effects due to the COVID-19 pandemic. In the initial stages of the pandemic, disruptions in supply chains, manufacturing processes, and an overall decrease in industrial activities had a direct impact on the demand for solutions related to industrial computed radiography. Industries such as aerospace, automotive, and manufacturing underwent temporary shutdowns or reduced operations, influencing the requirement for non-destructive testing services. Additionally, the pandemic has expedited the digital transformation in various sectors, fostering a greater acceptance of digital technologies, including computed radiography. The capacity to remotely access and analyze digital data has become increasingly vital for ensuring operational continuity while adhering to safety guidelines.

SEGMENTATION ANALYSIS:

The oil & gas sector is anticipated to grow significantly during the forecast period.

The oil & gas sector emerged as the highest revenue-generating category, driven by its increasing application in monitoring pipelines and refining equipment for the assessment of internal corrosion. Within the oil & gas industry, there is a notable emphasis on utilizing industrial radiography solutions for monitoring oil spills or leaks. Additionally, the aerospace industry is experiencing a growing adoption of industrial radiography solutions, particularly in computed radiography, to guarantee the integrity and safety of manufactured assemblies and components. This technology not only minimizes chemical waste but also delivers real-time high-quality images, enabling efficient interpretation and inspection—thus, establishing itself as a crucial component in aerospace manufacturing.

REGIONAL ANALYSIS:

The North American region is set to witness significant growth during the forecast period.

North America is poised to lead the global computed radiography market, driven by the increasing adoption of advanced radiography equipment and technological advancements in the region. Notably, key players such as Fujifilm Corporation and Siemens Healthcare have a significant presence. In September 2021, Ford and SK Innovation unveiled plans to invest USD 11.4 billion, creating nearly 11,000 new jobs in the United States. The establishment of three new BlueOval SK battery plants, two in Kentucky and one in Tennessee, will contribute to a substantial annual US production capacity of 129 gigawatt hours for Ford. In February 2021, President Joe Biden emphasized the prioritization of domestic semiconductor manufacturing as a key focus for the country's administration. This initiative aims to address chip shortages and mitigate concerns about the vulnerability of the United States to supply chain disruptions caused by outsourcing chip production. Through executive action, Biden initiated a 100-day review to potentially enhance support for American chip companies with new government policies. Additionally, the growth of healthcare services in the North American region, along with increased applications in the healthcare industry, is contributing to the market's growth in the area.

COMPETITIVE ANALYSIS

The global Industrial Computed Radiography market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

DÜRR NDT GmbH & Co. KG.

• In September 2022, DÜRR NDT GmbH & Co. KG had patterned with JME Ltd. This partnership has done to produce an innovative X-ray solution. The collaboration will allow JME Ltd. to utilize the D-Tect X software in conjunction with the DXB:1 for examining circumferential welds in various applications, including the inspection of new pipelines.

L3Harris Technologies

• In July 2022, L3Harris Technologies had collaborated with DÜRR NDT GmbH & Co. KG to utilize the ScanX Discover HC computed radiography scanner, enabling the electronic capture of X-ray images and their subsequent digital projection on a monitor for evaluation.

General Electric Company

Fujifilm Holdings Corporation

Nikon Corporation

Shimadzu Corporation

Baker Hughes

Anritsu Corporation

Mettler-Toledo

PerkinElmer Inc.

3DX-Ray Ltd. (UK)

Bosello High Technology Srl

COMatitionET Holding AG

Scope of the Report

By Component

Hardware

Software

By Imaging Technology

Film-Based Radiography

Digital Radiography

By Radiation Type

X-Rays

Gamma Rays

By End-User

Automotive

Consumer Electronics

Oil & Gas

Aerospace & Defense

Manufacturing

Power Generation

Others

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, Latin America, and Rest of The World)

Keys reasons to purchasing this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the industrial computed radiography market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which industrial computed radiography submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.