Digital Radiography Segment is Expected to be the Fastest Growing During Forecast Period for SAM Industrial Radiography Market during 2019–2028

According to a new market research study on “SAM Industrial Radiography Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technique and End-User Industry,” is expected to reach US$ 28.98 million by 2028 from US$ 16.90 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the SAM industrial radiography market along with the drivers and restraints pertaining to the market growth. Growing MRO operation is the major factor driving the growth of the SAM industrial radiography market. However, radiation hazards, government regulations, and lack of high skilled labour may hinder the growth of SAM industrial radiography market.

In South America, Brazil is the worst impacted country due to the COVID-19 outbreak. As of April 2021, the country is still facing significant surge in COVID-19 cases. Also, countries such as Peru, Argentina, Uruguay, and Venezuela were impacted by the pandemic and are still facing the significant impact of the second wave of the pandemic. Countries such as Brazil and Argentina were under lockdown, and some parts of the region are still under lockdown, halting the business operation and manufacturing process. In some parts of the region, there are travelling restrictions, and various manufacturing projects also slowed down. This has lowered the demand for various new machines and equipment that are used for inspecting defects in the production line in industries. Further, manufacturers are facing challenges in procuring raw materials and managing supply chain and logistics. The COVID-19 pandemic has a negative impact on the industrial radiography market in major SAM countries.

The SAM industrial radiography market is segmented on the basis of technique, end-user industry, and country. Based on technique, the market is bifurcated into digital radiography and film-based radiography. In 2020, the digital radiography segment held the largest share SAM industrial radiography market. By end-user industry, the market is segmented into petrochemical and gas, power generation, manufacturing, aerospace, automotive & transportation, and others. In 2020, the automotive & transportation segment held the largest share SAM industrial radiography market. Based on country, the market is segmented into Brazil, Argentina, and rest of SAM. In 2020, Brazil held the largest share SAM industrial radiography market. 

Anritsu, Fujifilm Corporation, GENERAL ELECTRIC, METTLER TOLEDO, Nikon Corporation, SHIMADZU CORPORATION, and ZEISS International are among the leading companies in the SAM industrial radiography market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Mettler-Toledo International Inc. Announces Acquisition of PendoTECH.