The industrial linear accelerator market is anticipated to secure USD 2,979.8 Million in 2022 and is likely to be valued at USD 5,486.4 Million by 2032. The market is estimated to exhibit a CAGR of 6.3% during the forecast period. The historic CAGR stood at 4.5% from 2016 to 2021.
Demand for the industrial linear accelerator is rising as it is mainly used for non-destructive testing that helps to evaluate the properties of different material without damaging them. The adoption of the industrial linear accelerators has a wide range of applications in both private and government sectors during the forecast period.
| Report Attribute | Details |
|---|---|
| Industrial Linear Accelerator Market Value (2022) | USD 2,979.8 million |
| Industrial Linear Accelerator Market Anticipated Value (2032) | USD 5,486.4 million |
| Industrial Linear Accelerator Projected Growth Rate (2032) | 6.3% |
The market is growing at a moderate pace registering a high CAGR during the forecast period. Moreover, the industrial linear accelerator is widely used for maintenance services and manufacturing industries. Such as cargo inspection, medical waste disposal, agriculture, food irradiation, gemology, aerospace, automotive, rocket motors, castings inspection, and missile/defense systems. All these end-use industries are driving the industrial linear accelerator market growth during the forecast period.
Furthermore, it uses scanning devices for vehicles and cargo as they do not affect the material being inspected and also save time and money during inspecting materials in the security sector.
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Rising scanning equipment in industries and growing awareness among people are driving the market share in recent years. On the other hand, rising demand for high yields and decreasing costs without compromising quality is growing the market size during the forecast period. On the other hand, it is also used in radiation therapy to treat cancer, increasing the demand for industrial linear accelerator in the medical sector.
LINAC innovates a device that treats cancer patients due to its cost-effectiveness. The marketers are observed well towards patients and shift the preference towards non-invasive treatment processes are likely to increase the adoption of industrial linear accelerator in recent years. This therapy provides advanced treatment and is applicable for various cancers with surgery and other procedures.
In addition, industrial linear accelerators have become an integral component of the food and preservative, mining, metal casting, waste management industries, etc., which are flourishing market growth. However, the current trend to use better technology and equipment to get better results will increase the demand for industrial linear accelerator during the forecast period.
The presence of alternatives, the high price of industrial linear accelerators, and a general lack of awareness among people may restrain the growth of the global market. In addition, a decline in the sales of industrial linear accelerator may also hamper the market growth in recent years.
Principal Consultant
The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). Europe holds a major share in the industrial linear accelerator market by acquiring 28% of the share. Moreover, major consumers are owing to the extensive applications of industrial linear accelerators in the manufacturing industry.
However, increasing globalization, evident from the increase in international trade and outbound-inbound, led to positive growth in the European industrial linear accelerator.
The North American industrial linear accelerator market is securing a higher CAGR of 24% during the forecast period. An increase in industrial production in countries like the USA, with high growth in PMI (purchase manager index) numbers, accelerates the market growth during the forecast period. In addition, rising advanced technology are increasing the demand for industrial linear accelerators in North America in recent years.
Based on the end-user segment, the market is further divided into automotive, metal casting, aerospace, food processing, medical waste disposal services, and defense industries. The medical waste disposal service industry is likely to dominate the market by securing a higher share during the forecast period.
The industry is treating cancer patients efficiently are likely to upsurge the market share in recent years. Some companies such as Bevatech GmbH, Elekta, and Varian are growing the demand for an industrial linear accelerator to treat patients.
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Essential Vendors in the Industrial Linear Accelerator Market?
The market is fragmented by several key vendors present during the market during the forecast period. These key vendors are innovating products and focusing on the customer's requirements during the forecast period. Some of the key player's developments are mentioned below:
Recent Developments in the Industrial Linear Accelerator
Some of the key players in the market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Varying Energy Ranges, Application, End Use Industry, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC, South Africa |
| Key Companies Profiled | MITSUBISHI HEAVY INDUSTRIES, LTD.; Wasik Associates Inc.; VIVIRAD S.A; Iotron Industries Canada, Inc.; IBA group; Jiangsu dasheng accelerator manufacturer co., LTD; DIONDO GMBH; High Voltage Engineering Europa B.V. (HVE); NISSIN ELECTRIC Co., Ltd.; Varian Medical Systems, Inc. |
| Customization | Available Upon Request |
The growth outlook of the industrial linear accelerator market is predicted to advance at a CAGR of 6.3% from 2022 to 2032.
Europe is anticipated to lead the industrial linear accelerator market during the forecast period.
The industrial linear accelerator market is likely to hold a valuation of USD 5,486.4 million by 2032.
The medical sector is the key driver in the industrial linear accelerator market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use Industry 5.1. Automotive Industry 5.2. Metal Casting Industry 5.3. Aerospace Industry 5.4. Missile/Defence Industry 5.5. Food Processing Industry 5.6. Medical Waste Disposal Services Industry 5.7. Others 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Energy Ranges 6.1. 2 MeV - 4 MeV 6.2. 5 MeV - 7 MeV 6.3. 8 MeV - 10 MeV 6.4. 10 MeV - 12 MeV 6.5. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Industrial Radiography 7.2. Cargo Screening 7.3. Radiation Processing 7.4. Polymer Modification 7.5. Sterilization 7.6. Food Preservation 7.7. Waste Treatment 7.8. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. MITSUBISHI HEAVY INDUSTRIES, LTD. 16.2. Wasik Associates Inc 16.3. VIVIRAD S.A 16.4. Iotron Industries Canada, Inc 16.5. IBA group 16.6. Jiangsu Dasheng Accelerator Manufacturer Co., LTD 16.7. DIONDO GMBH 16.8. High Voltage Engineering Europa B.V. (HVE) 16.9. NISSIN ELECTRIC Co., Ltd. 16.10. Varian Medical Systems, Inc 17. Assumptions & Acronyms Used 18. Research Methodology
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Industrial Linear Accelerator Market
