Northrook, IL -- (SBWIRE) -- 05/26/2020 -- 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%. The market growth is propelled by stringent regulations by various governments regarding industrial safety and product quality, increasing demand for NDT services in automotive and aerospace industries, advancements in software that are integrated into radiography systems, and the preventive maintenance of industrial equipment.

Request Free Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=249604981

Market for direct radiography to grow at higher CAGR from 2020 to 2025

The market for direct radiography is expected to grow at the highest CAGR during the forecast period. Direct radiography is also known as real-time radiography as this technique is capable of generating real-time images of objects being tested, which is the ultimate need of the time. This is expected to drive the demand for direct radiography technique in the near future.

Petrochemicals & gas end user to exhibit high growth in industrial radiogrpahy market during forecast period

The market for the petrochemicals & gas end user is expected to register the highest CAGR during the forecast period. Industrial radiography testing in this end user includes monitoring pipelines, storage tanks, and refining equipment for measuring internal corrosions without externally damaging the material. Industrial radiography is extremely important for the deep-sea oil and natural gas industry. In this industry, oil leaks or spills can occur over a period of time if the infrastructure of the refineries is not monitored carefully, which leads to extremely high costs of cleanup.

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

The industrial radiography market in APAC is expected to grow at the highest CAGR during the forecast period. Stringent government regulations regarding safety have created a huge demand for industrial radiography equipment in this region. Further, the consumer electronics sector is also expanding rapidly due to the globally increasing demand for various consumer electronic devices, which leads to the rise in the adoption of radiography equipment to reduce failures and maintenance costs. Further, rapid technological advancements and the increased focus of manufacturers on R&D are expected to create a significant opportunity for the growth of the industrial radiography market.

Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=249604981

Key Market Players
As of 2019, General Electric (U.S.), FujiFilm Holdings Corporation (Japan), and COMET Group (Switzerland) dominated the industrial radiography market.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441