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Miniaturization to Boost the Industrial Radiography Equipment Market: Technavio

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
industrial radiography equipment market
provides an analysis of the
most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The global industrial radiography equipment market is expected to grow
at a CAGR of more than 11% during the forecast period. This is due to
the adoption of radiography systems across a wide range of sectors. The
automotive, aerospace, and manufacturing sectors have significantly
increased their spending on such equipment.

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The top three emerging market trends driving the global industrial
radiography equipment market
according to Technavio research
analysts are:

  • Rising demand for portable radiography equipment
  • Customization of radiography equipment
  • Miniaturization of radiography systems

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Rising demand for portable radiography equipment

The advent of automated portable radiography equipment has generated
considerable interest from end-users. As most of the inspection
activities are carried out in different locations and positions, the
development of miniaturized and portable testing equipment is a
necessity. For instance, equipment used to test automotive components
and other minute components must be small and portable. These systems
reduce testing expenditure, as the products can be tested at the
vendor's location, thereby eliminating the high installation costs.

“Portable radiography equipment is much cheaper compared to their
conventional counterparts and offers a better ROI. Multiple objects can
be tested at different locations using a single device using this
technology. These devices are also highly functional for oil rigs, where
testing must be carried out at locations that are tough to access.
Vendors are currently focused on reducing the size of their products to
cater to this emerging demand,” says Chetan Mohan, a lead analyst at
Technavio for embedded

Customization of radiography equipment

The global radiography market is witnessing a trend in equipment
customization. Market vendors are customizing test machines based on the
client's manufacturing process. Solutions being offered include separate
equipment for tube or bar manufacturing and rolling processes for plate
manufacturing. Customized equipment is specially used in production
lines for testing products across end-user segments with a wide variety
of applications.

“The trend of customized radiography equipment can act as a
significant boon for vendors if customer-specific requirements are met
efficiently during the forecast period. This trend can also negatively
impact the market if manufacturers are unable to match customer
requirements,” says Chetan.

Miniaturization of radiography systems

The trend of miniaturization has heavily impacted the radiography
equipment market. Since most of the testing and inspection is undertaken
at different locations, the need for portable and miniaturized equipment
is on the rise. For instance, radiography equipment used for automotive
components must be small in size as most of the components are
themselves small. Similarly, in the oil and gas sector, radiography
equipment needs to be compact and lightweight for inspection at
locations that are difficult to access. This will ensure an easy
inspection procedure.

Moreover, technological advances in manufacturing will propel the market
for flexible and compact devices. Hence, Technavio predicts that
radiography equipment vendors will continue miniaturizing their systems
to meet the emerging demand for compact electronic devices.

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