Report : Asia Pacific Linear Accelerator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Energy Range (Less than 4 MeV, 4 MeV to 8 MeV, 8 MeV to 12 MeV, and More than 12 MeV), Application (Industrial Radiography, Cargo Screening, Radiation Processing, and Others), Industry (Automotive, Aerospace & Defense, Medical, Food & Beverages, Metals & Mining, and Others)
Cargo Screening Segment to Dominate APAC Linear Accelerator Market during 2019–2027
According to The Insight Partners market research study on “APAC Linear Accelerator Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Energy Range, Application, and Industry,” the market is expected to reach US$ 2204.39 million by 2027 from US$ 1108.85 million in 2019. The market is estimated to grow at a CAGR of 9.3% from 2020 to 2027. The report provides trends prevailing in the APAC linear accelerator market along with the drivers and restraints pertaining to the market growth. Incremental growth is the major factor driving the growth of the APAC linear accelerator. However, lack of radiotherapy linear accelerators technology adaptation in low income developing and underdeveloped countries hinder the growth of APAC linear growth cable market.
The APAC linear accelerator market is segmented into cable energy range, application, industry, and country. Based on energy range, the market is segmented into less than 4 MeV, 4 MeV to 8 MeV, 8 MeV to 12 MeV, and more than 12 MeV. In 2019, the 8 MeV to 12 MeV segment held the largest share of the APAC linear accelerator market. Based on application, the APAC linear accelerator market is divided into industrial radiography, cargo screening, radiation processing, and others. The Cargo screening segment is expected to be the fastest growing segment during the forecast period in APAC linear accelerator market. Similarly, based on industry, the market is sub segmented into automotive, aerospace & defense, medical, food & beverages, metal & mining, and others. The medical segment contributed a substantial share in 2019.
APAC is characterized by numerous developing economics backed by high industrial presence, large population, and increasing disposable income, which majorly drive the growth of the linear accelerator market. However, the outbreak of COVID-19 and lockdown imposed by the governments across APAC is anticipated to have a huge disruption in the growth of various industries across APAC. Although, China is the leading global hub of manufacturing and largest raw material supplier for various industries, it is one of the worst affected countries due to the outbreak of COVID-19. The governments across APAC are taking measure like travel bans, business shutdowns, and lockdown, which is expected to hamper the anticipated revenue generation and growth opportunities for coming months.
Altair Technologies, Inc.; BEVATECH GmbH; CGN Dasheng; Elekta AB; IBA.; diondo GmbH.; Iotron Industries; Mitsubishi Heavy Industries Machinery Systems, LTD; Varex Imaging Corporation; and Varian Medical Systems, Inc. are among the leading companies in APAC linear accelerator market . The companies are focused on adopting organic growth strategies such as product launches and business expansions to sustain their position in the dynamic market. For instance, CGN Dasheng acquired 60% equity of the Yangzhou Xinqite electric company and 51% equity of Shenzhen Gerui radiation technology. Gerui specializes in industrial linear accelerator and expertise in the design of beam tubes. It is one of the leading companies in China, which can design linear accelerator beam tubes.
The Report Segments the APAC Linear Accelerator Market as Follows:
APAC Linear Accelerator Market – By Country