Report : Asia-Pacific Gamma Ray Spectroscopy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Hardware, Software, and Services) and End-User (Space Research, Nuclear Facilities, and Mineral Exploration)
At 8.0% CAGR, the Asia-Pacific Gamma Ray Spectroscopy Market is speculated to be worth US$ 297.82 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia-Pacific gamma ray spectroscopy market was valued at US$ 187.66 million in 2022 and is expected to reach US$ 297.82 million by 2028, registering a CAGR of 8.0% from 2022 to 2028. Use of lightweight gamma ray spectrometers and introduction of portable gamma ray spectrometer information system are the critical factors attributed to the Asia-Pacific gamma ray spectroscopy market expansion.
The lightweight gamma ray spectrometers can be used in unmanned aerial vehicles (UAVs) for field spectroscopy. The airborne gravitational reference sensor (GRS) measurements can be utilized to determine radionuclide concentrations in the ground. For the GRS sensors’ successful applications, the correct measurement of absolute values of concentrations is necessary. For the correct measurement of height from the ground, the airborne gamma ray data must determine the absolute radionuclide concentrations. A lightweight CeBr3 gamma ray spectrometer was developed for the small UAV radiation monitoring systems. Several trial runs were conducted post development, which resulted in generating high energy resolution that ultimately helped users gain substantial data. The companies started offering lightweight gamma ray spectrometers due to its varied applications in end-user industries. For instance, Geo-Matching offers MS-1000, a gamma ray detector for UAVs. Thus, the high adoption of gamma ray spectrometers in UAVs bring in lucrative growth opportunities for the gamma ray spectroscopy manufacturers, thereby driving the Asia-Pacific gamma ray spectroscopy market.
On the contrary, adverse effects of gamma rays on consumer’s health hurdles the growth of Asia-Pacific gamma ray spectroscopy market.
Based on type, the Asia-Pacific gamma ray spectroscopy market is segmented into hardware, software, and services. The hardware segment held 64.2% market share in 2022, amassing US$ 120.50 million. It is projected to garner US$ 186.06 million by 2028 to expand at 7.5% CAGR during 2022–2028,
Based on end-user, the Asia-Pacific gamma ray spectroscopy market is segmented into space research, nuclear facilities, and mineral exploration. The nuclear facilities segment held 60.7% market share in 2022, amassing US$ 113.93 million. It is projected to garner US$ 187.52 million by 2028 to expand at 8.7% CAGR during 2022–2028.
Based on country, the Asia-Pacific gamma ray spectroscopy market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific. Our regional analysis states that China captured 32.6% market share in 2022. It was assessed at US$ 61.14 million in 2022 and is likely to hit US$ 98.46 million by 2028, exhibiting a CAGR of 8.3% during the forecast period.
Key players dominating the Asia-Pacific gamma ray spectroscopy market are AMETEK Inc.; ANTECH; ATOMTEX; CAEN S.p.A.; Geomatrix Earth Science Ltd; Linde Plc; Mirion Technologies, Inc.; NATS, Inc.; NUVIATech Instruments; and Sander Geophysics Limited, among others.
- In July 2019, ATOMTEX announced the extension of STB ISO 9001-2015 Quality management system conformity certificate to acknowledge that development, manufacture, maintenance of instruments and equipment for nuclear measurements and radiation control conforms to all requirements.
- In Sep 2021, Mirion Technologies, Inc. announced the release of its new Apex-Guard software, an exciting addition to the Mirion Apex-Gamma Lab Productivity Suite.
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