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Report ID: ICT0004
Pages: 190
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
MARKET SCOPE:
The global Industrial Computed Radiography market is projected to grow significantly, registering a CAGR of 6.93 % during the forecast period (2023 – 2032).
The Industrial Computed Radiography Market is currently experiencing a significant shift towards sustainability, mirroring a broader trend observed in various industries, including mining. The sector is increasingly prioritizing environmentally friendly practices, responsible resource extraction, and ethical business conduct. This transformation is largely influenced by growing consumer awareness, particularly in the context of rising demand for robotics and smart motors that adhere to sustainable principles.
Transparency and ethical supply chain practices have become critical aspects of the Industrial Computed Radiography Market. Companies are meticulously examining their supply chains to ensure they are free from unethical or unsustainable practices. Sustainable mining solutions are emerging as a clear pathway for companies to meet the rising demand for transparent and responsible supply chains. Companies are not only aiming to comply with existing requirements but are also proactively adopting sustainable practices to position themselves favorably for anticipated regulatory changes. Corporate Social Responsibility (CSR) has gained prominence in the industry, with companies realizing that sustainable manufacturing practices contribute not only to a positive brand image but also to increased market acceptance of their products.
MARKET OVERVIEW:
Driver: Driving Efficiency and Safety: The Impact of Non-Destructive Testing Applications on the Growth of Industrial Computed Radiography Market:
Non-Destructive Testing (NDT) plays a crucial role in ensuring the integrity and safety of industrial structures and components, driving the growth of the Industrial Computed Radiography (CR) market. Industrial CR is a method of NDT that utilizes X-ray or gamma-ray radiation to create detailed images of the internal structures of objects, allowing for the detection of defects without causing damage to the tested material. This non-destructive nature is particularly advantageous in industries such as aerospace, automotive, oil and gas, and manufacturing, where the quality and reliability of materials are paramount. The ability of CR to provide high-resolution images enables the identification of defects such as cracks, porosity, and corrosion, contributing to the prevention of catastrophic failures and ensuring compliance with industry standards and regulations.
The adoption of Industrial Computed Radiography is further accelerated by its advantages over traditional film-based radiography methods. Digital radiography offers faster image acquisition, immediate results, and enhanced image processing capabilities, streamlining inspection processes and reducing downtime in industrial operations.
Opportunities: Enhancing Industrial Radiography Growth through Infrastructure Expansion
The burgeoning growth of industrial infrastructure is poised to catalyze the expansion of the Industrial Computed Radiography (CR) market in the coming years. This surge is primarily driven by the escalating demand for robust non-destructive testing (NDT) methods in the wake of expanding industrial operations. Industrial computed radiography, with its ability to inspect materials without causing damage, emerges as a pivotal solution for ensuring the integrity and quality of critical components. As industries increasingly emphasize quality control and assurance, the efficiency and cost-effectiveness of CR technology play a vital role, offering swift acquisition, processing, and analysis of digital images. Furthermore, the technology’s adaptability to diverse applications across sectors such as manufacturing, construction, aerospace, and energy positions it as a versatile and indispensable tool in the evolving landscape of global industrial operations.
This growth trajectory is reinforced by ongoing technological advancements in CR, including higher sensitivity, faster image acquisition, and superior image processing capabilities. As industrial infrastructure undergoes rapid globalization, there is a growing need for standardized inspection and testing methods, a demand that industrial computed radiography adeptly addresses. The technology not only ensures compliance with stringent regulatory standards but also provides a digital, standardized approach that can be seamlessly implemented across different regions. In essence, the expansion of industrial infrastructure acts as a catalyst for the Industrial Computed Radiography market, fostering efficiency, reliability, and compliance in the ever-evolving industrial landscape.
COVID IMPACT:
The Industrial Computed Radiography (CR) market has witnessed a notable impact from the COVID-19 pandemic, as the global crisis has disrupted various industries and supply chains. With lockdowns, restrictions, and economic uncertainties, several end-user industries of industrial CR, such as manufacturing, aerospace, and automotive, experienced a slowdown in operations, leading to a decreased demand for inspection and testing solutions. The restrictions on movement and work have also affected the installation and maintenance of CR systems. However, as the world adapts to the new normal and economic activities gradually resume, the industrial CR market is expected to recover, driven by the need for non-destructive testing solutions and the emphasis on quality control in manufacturing processes. The industry may witness increased adoption of digital radiography technologies as businesses prioritize efficiency and automation in post-pandemic recovery.
SEGMENTATION ANALYSIS:
The aerospace and defense and oil and gas are expected to dominate the market during the forecast period
The Industrial Computed Radiography (CR) Market is diversified across multiple applications to cater to the unique needs of various industries. In the aerospace and defense sector, CR ensures the integrity of critical components, while in automotive applications, it aids in quality control of welds and castings. The oil and gas industry benefits from CR for inspecting pipelines and welds, ensuring infrastructure reliability. Power and energy facilities utilize CR for efficient equipment operation, and security applications involve baggage and cargo screening.
CR plays a crucial role in explosive ordnance disposal, electronics quality control, and inspection within the food and pharmaceutical industries. Additionally, it contributes to the assessment of transportation infrastructure, construction welds, marine components, and quality assurance in manufacturing and heavy industries. The “Others” category reflects the technology’s versatility in addressing diverse applications beyond the specified sectors, highlighting the broad spectrum of industries benefitting from Industrial Computed Radiography.
Based on components, imaging plates are anticipated to exert a substantial influence in terms of volume, given their status as the primary consumables in the industrial computed radiography market.
The Industrial Computed Radiography Market is segmented by components, including Imaging Plates, Computed Radiography Reader (Digitizer), and Review Station with Acquisition Software. Imaging Plates serve as the primary medium for capturing X-ray images of industrial components. The Computed Radiography Reader, or digitizer, plays a pivotal role in converting these images into digital format by scanning the imaging plates.
The Review Station, equipped with specialized acquisition software, provides a platform for professionals to analyze and interpret the digitized X-ray images, facilitating crucial tasks such as quality control and defect detection in industrial applications. This segmentation reflects the integral components involved in the comprehensive process of industrial computed radiography.
REGIONAL ANALYSIS:
The European region is set to witness significant growth during the forecast period.
The European market for Industrial Computed Radiography (CR) has been characterized by a growing adoption of digital imaging technologies across various industries. Countries within the European Union, such as Germany, France, and the United Kingdom, have witnessed a steady transition from traditional film-based radiography to more advanced and efficient computed radiography systems. Stringent safety regulations, particularly in sectors such as manufacturing, aerospace, and automotive, have played a pivotal role in driving the demand for CR solutions. The emphasis on precision, speed, and the need for non-destructive testing methods in critical industries has fueled the integration of industrial computed radiography, with a notable focus on enhancing inspection accuracy and reducing operational costs.
However, challenges persist in the European market, including economic uncertainties, regulatory complexities, and the high initial costs associated with adopting advanced radiography technologies. Additionally, competition from other non-destructive testing methods continues to be a factor influencing market dynamics. Despite these challenges, opportunities for market growth in Europe lie in the continuous innovation of CR technologies, strategic collaborations between key industry players, and expanding applications in emerging sectors. As the region progresses, developments in artificial intelligence and automation within computed radiography systems are expected to further shape the European market by offering more sophisticated and efficient solutions for industrial inspections.
COMPETITIVE ANALYSIS
The global Industrial Computed Radiography market is reasonably competitive with mergers, acquisitions, and Application launches. See some of the major key players in the market.
Scope of the Report
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.