Industrial radiography market in APAC to grow at highest CAGR during forecast period

March 25 15:37 2020

Radiographic testing, better known as industrial radiography, uses short-wavelength electromagnetic radiation to detect the imperfections in a given test object. With the ever-increasing evolution of robotics and automation in industrial manufacturing and allied ancillaries, there is a surge in the demand for equipment that can detect flaws, cracks, and related disorders, thereby ensuring adherence to industrial safety and security norms and reducing the downtime of complex machinery. To stay competitive, companies look toward to radiographic testing to maintain high levels of product quality. The industrial radiography market is estimated to grow from USD 532 million in 2020 to USD 784 million by 2025; growing at a CAGR of 8.1% during the forecast period. General Electric (U.S.), FujiFilm Holdings Corporation (Japan), and COMET Group (Switzerland) dominate the industrial radiography market.

 

General Electric:

General Electric (US) is one of the world’s largest multinational conglomerates, operating as an infrastructure company worldwide. The company develops and manufactures products that are used in the generation, transmission, distribution, utilization, and control of electricity. GE operates through 8 business segments: Aviation, Power, Healthcare, Oil & Gas, Capital, Lighting, Transportation, and Renewable Energy. The company provides industrial radiography solutions under the Oil & Gas business segment. In July 2017, GE merged its Oil & Gas business segment with Baker Hughes and currently Baker Hughes operates as the forefront company for GE’s Oil & Gas segment. Baker Hughes supplies products related to industrial radiography to more than 120 countries across the world. The company’s industrial radiography solutions fulfill critical requirements for distinctive applications and deliver productivity, quality, and safety. GE is primarily focusing on merging with strategic companies.

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Comet Group:

Comet Group (Switzerland) is a globally leading technology firm developing and producing innovative high-tech components and systems based on x-ray, radiofrequency, and e-beam technology. The company markets its components, systems, and services under the COMET, YXLON, and ebeam brands. The company operates through four business segments, which include Plasma Control Technologies, X-Ray Systems, Industrial X-Ray Modules, and e-beam Technologies. The e-beam Technologies segment develops, manufactures, and markets metal-ceramic X-ray sources and portable X-ray modules for non-destructive testing and security inspection, as well as e-beam sets for the eco-friendly sterilization of surfaces. COMET, YXLON, and e-beam are the company’s three strong brands, which serve different markets. Its products are used in automotive, aerospace, electronics, energy, semiconductors, and solar industries, as well as in airport security applications.

 

Fujifilm Holdings Corporation:

FUJIFILM Holdings (Japan) is a holding company of two operating companies Fujifilm and Fuji Xerox. The company is constantly transforming itself to cope up with the changes in the business environment where the market for photographic materials is rapidly shrinking with the rise of digitalization. Fujifilm operates through three segments, Imaging Solutions, Document Solutions, and Healthcare and Material Solutions. The Healthcare and Materials Solutions segment develops, manufactures, markets, and services equipment and materials for medical systems, life science products, pharmaceutical products, graphic art products, flat panel display materials, recording media, electronic materials, and related products, primarily for commercial enterprises. The company operated through 279 consolidated subsidiaries globally as of 2019.

 

Other companies involved in the development of the industrial radiography market are 3DX-Ray LTD (U.K.), Anritsu Corporation (Japan), Bosello HT (Italy), PerkinElmer, Inc. (U.S.), Nikon Corporation (Japan), Shimadzu Corporation (Japan), and METTLER-TOLEDO International, Inc. (Switzerland).

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