Report : Europe 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 6.0% CAGR, the Europe Gamma Ray Spectroscopy Market is speculated to be worth US$ 303.59 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe gamma ray spectroscopy market was valued at US$ 213.62 million in 2022 and is expected to reach US$ 303.59 million by 2028, registering a CAGR of 6.0% from 2022 to 2028. Rising usage of HPGe detectors and increased preference for gamma rays in medical industry are the critical factors attributed to the Europe gamma ray spectroscopy market expansion.
Germanium and silicon-based detectors are a proven solution for gamma ray detection and have improved the measurement capability of gamma ray detectors. The HPGe detectors are considered one of the best solutions for gamma ray spectroscopy due to germanium’s high efficiency for radiation compared to silicon. This is because germanium’s atomic number is much higher than silicon and its average energy, i.e., 2.9 eV, which is necessary to create an electron hole pair, is lower than silicon, i.e., 3.6 eV. Germanium has a sensitive thickness of centimeters; thus, it can be used as a total absorption detector for gamma rays. Hence, the increased usage of HPGe detectors is contributing to the Europe gamma ray spectroscopy market growth.
On the contrary, adverse effects of gamma rays on consumer’s health hurdles the growth of Europe gamma ray spectroscopy market.
Based on type, the Europe gamma ray spectroscopy market is segmented into hardware, software, and services. The hardware segment held 62.7% market share in 2022, amassing US$ 133.87 million. It is projected to garner US$ 185.18 million by 2028 to expand at 5.6% CAGR during 2022–2028.
Based on end-user, the Europe gamma ray spectroscopy market is segmented into space research, nuclear facilities, and mineral exploration. The nuclear facilities segment held 58.0% market share in 2022, amassing US$ 123.99 million. It is projected to garner US$ 182.72 million by 2028 to expand at 6.7% CAGR during 2022–2028.
Based on country, the Europe gamma ray spectroscopy market has been categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 31.4% market share in 2022. It was assessed at US$ 67.02 million in 2022 and is likely to hit US$ 102.56 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players dominating the Europe 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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