RADIATION SURVEY METERS MARKET REPORT OVERVIEW
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The global radiation survey meters market size was USD 401.4 million in 2021 and is projected to touch USD 527 million by 2031, exhibiting a CAGR of 3.1%.
The global COVID-19 pandemic has been unprecedented and staggering, with radiation survey meters’ market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
Radiation survey meters are useful for determining a source's radiation output in terms of quantity, intensity, and kind. Depending on where it comes from, radiation may be natural or artificial. Ionizing radiations, which include alpha, beta, and gamma rays, are the main forms of radiation. When ionizing radiation interacts with matter (elements), atoms lose their electrons and change into charged ions because of the energy involved (positively or negatively). Ionization is the process involved, and these high-energy wave types are capable of permeating human body tissues.
Scintillation detectors can be used to measure the environment because they are gamma radiation sensitive. When ionizing particles strike a scintillator crystal, which is commonly sodium iodide doped with thallium, it emits light, which is how these detectors work. An incoming particle's energy deposit determines the light's intensity, which reveals information about the particle's identification. The quantity and energy of neutrons are measured by a neutron detector. Pulsed and continuous detectors can be separated into two groups. Electronics are used by pulsed neutron detectors to calculate the distance that neutrons in water or other materials travel in between pulses. Continuous devices rely on semiconductor materials like silicon, which when hit by neutrons, produce an electronic pulse proportionate to the neutron's energy.
Ionizing radiation can be found and measured using a Geiger counter. The device consists of an electrode at each end of a gas-filled tube known as the "geometer," which, for the majority of solid materials, causes current to flow between the electrodes in pulses. As a result, it is only sensitive to photons with energy higher than 0.25 eV. (Which are unable to pass through this thick window). Free electrons react to this by moving in the direction of the positive voltage on the anode (see the photoelectron effect), which accelerates them through electric forces and results in its remarkable sensitivity to even weak radiation sources like alpha particles or low energy X-rays.
COVID-19 Impact: Temporary Shutdowns at Factories Worldwide to Hamper Market Growth
COVID-19 had significantly affected almost every industry, including aerospace, chemical, automotive, manufacturing, chemical, mining, and metallurgy, and others. To combat the COVID-19 epidemic, the bulk of the countries imposed a lockdown, which is gradually being lifted industry by industry and phase by phase. As a result of temporary closures at plants all over the world, this had a significant impact on the industrial sector. The market for electro hydraulic servo valves was significantly impacted on both the supply and demand sides by the global COVID-19 problem. Businesses have to evaluate the effects on the supply chain, the radiation survey meters’ market demand, and the labor force.
LATEST TRENDS
"Use of the Radiation Survey Meters in Defense System to Promote Market Growth"
Recently, radiation survey meters have been widely utilized in the military to monitor radiation levels and calculate dose rates. This enables them to keep a safe distance from sources or locations that may contain radiation that could be dangerous to human health. Soldiers and first responders must look out for potential risks before approaching an area with high levels of radioactivity since weapons and explosives can produce radiation. Gamma rays are detected by Geiger-Muller tubes, which are used to quantify radiation, while neutrons are detected by neutron sensors, which are used in nuclear fission operations. The defense system has benefited from radiation survey meters, and this is what is expected to fuel the market's expansion.
RADIATION SURVEY METERS MARKET SEGMENTATION
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- By Type
Based on type; the market is divided into scintillation detector, neutron detector, Geiger counter and other.
In terms of product, scintillation detector is the largest segment.
- By Application
Based on application; the market is divided into Healthcare, Defense, Industry and Manufacturing and Other.
In terms of application, industry and manufacturing is the largest segment.
DRIVING FACTORS
"Meters Providing Aid in Implementing Safety Precautions to Fuel Market Growth"
Due to their non-intrusive process monitoring capabilities, radiation survey meters are being used more frequently in a variety of industries, including oil & gas, chemical, mining, and metallurgy, among others, which has increased demand for these devices globally. This monitoring aids in keeping an eye on potentially dangerous regions so that prompt action can be done before things spiral out of control and cause accidents or injuries. Through real-time measurements and an alert system that warns workers about high radioactivity levels when they enter hazardous zones with handheld devices equipped with alarms, radiation survey meters assist in keeping an eye on potential threats.
"Use of the Meters in Healthcare to Enhance Market Growth"
In order to enforce safety procedures against risks posed by radioactive material, equipment, or gadgets within hospitals, staff members employ radiation survey meters. Radiation survey meters assist medical practitioners in ensuring that patients and staff members aren't exposed to excessive levels of radioactivity by monitoring low-level gamma/neutron emissions coming from medicinal isotopes like cobalt-60 (used in radiotherapy for cancer treatment). This is anticipated to drive the radiation survey meters’ market growth.
RESTRAINING FACTORS
"Inefficiency of the Radiation Survey Meters to Constrain Market Growth"
Due to safety concerns, radiation survey meters are employed with very low activity radiation sources. The measurement could be impacted by external radiation, and it is rather pricey. The meters’ expensive costs make them less consumer-friendly, and their inefficiency has an impact on market sales.
RADIATION SURVEY METERS MARKET REGIONAL INSIGHTS
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"North America to Dominate the Market Due to Rising Investments"
Due to the presence of important players and increased investments in research and development, North America is anticipated to hold a significant portion of the global radiation survey meters’ market share. Due to its expanding industrialization, North America is anticipated to be one of the emerging markets among other continents.
KEY INDUSTRY PLAYERS
The research offers in-depth information on the development strategies employed by the major market players. The radiation survey meters’ study provides in-depth analysis of the major market participants and information on their level of competition. The paper also analyses the primary business tactics employed by these players, including mergers and acquisitions (M&A), partnerships, affiliations, and contracts.
List of Market Players Profiled
- Thermo Fisher Scientific (U.S.)
- Fuji Electri (Japan)
- Hitachi (Japan)
- Ludlum Measurements (U.S.)
- Mirion Technologies (U.S.)
- Polimaster (U.S.)
REPORT COVERAGE
The primary goal of the radiation survey meters’ market research is to provide a map of the market's progress, which will aid in giving clients the knowledge they need to formulate strategies to achieve their individual company objectives. In-depth information about radiation survey meters for the anticipated years as well as the market's anticipated CAGR are also provided in the study. This research provides information on the definition, classifications, applications, and engagements of the market as well as a summary of the future market circumstances. This study also intends to assess market developments for radiation survey meters, including market growth, market share, and other factors that are typically handled by the leading players and brands of the manufacturing and construction industry.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 401.4 Million in 2021 |
Market Size Value By |
US$ 527 Million by 2031 |
Growth Rate |
CAGR of 3.1% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the radiation survey meters market expected to touch by 2031?
The global radiation survey meters market expected to touch USD 527 million by 2031.
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What CAGR is the radiation survey meters market expected to exhibit by 2031?
The radiation survey meters market is expected to exhibit a CAGR of 3.1% by 2031.
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Which are the driving factors of the radiation survey meters market?
Meters providing aid in implementing safety precautions and use of the meters in healthcare are the driving factors of the radiation survey meters market.
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Which are the top companies operating in the radiation survey meters market?
Thermo Fisher Scientific, Fuji Electri, Hitachi, Ludlum Measurements, Mirion Technologies and Polimaster, are the top companies operating in the radiation survey meters market.