Radiation Measuring Device Manufacturing in the US Industry Market Research Report Now Available from IBISWorld

Share Article

In the five years to 2012, IBISWorld estimates that revenue for the Radiation Measuring Device Manufacturing industry has risen at an average annual rate of 0.6% to $938.1 million. During the recessionary years, demand for industry products declined as demand from downstream industrial production industries declined. Demand from government and medical sectors stayed strong, however, helping offset some of the declines. The industry has had to battle the fact that no new nuclear power plants have gone online since 1996. However, global demand for industry products surged ahead following the Japan Tsunami and subsequent meltdown of Japan's Fukushima nuclear power plant. In the five years to 2017, the industry's revenue is forecast to increase. During this period, an increase in industrial production, research and development funding and medical spending will drive industry growth as businesses expand budgets. For this reason, industry research firm IBISWorld has added a report on the Radiation Measuring Device Manufacturing industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Stronger industrial production and medical spending will heat up growth

In the five years to 2012, IBISWorld estimates that revenue for the Radiation Measuring Device Manufacturing industry has risen at an average annual rate of 0.6% to $938.1 million, including an increase of 8.7% in 2012 alone. The industry manufactures a variety of devices used to measure radiation in an environment or in a person who has been exposed. During the recessionary years, demand for industry products declined as demand from downstream industrial production industries declined. Demand from government and medical sectors stayed strong, however, helping offset some of the declines. The industry has had to battle the fact that no new nuclear power plants have gone online since 1996. Nevertheless, according to IBISWorld industry analyst Nima Samadi, “global demand for industry products surged ahead following the Japan Tsunami and subsequent meltdown of Japan's Fukushima nuclear power plant, with revenue growing 19.6% to $863.2 million in 2011.” These conflicting trends have kept revenue growth flat on average over the past five years.

The industry has also been boosted by strong growth in international trade. In the five years to 2012, industry exports are expected to grow at an average annual rate of 8.7% to $674.9 million. This growth is largely due to an increase in global demand for industry products in 2011. That year, exports grew 25.8%, with exports to Japan having grown 146.0% from 2012 due to the Fukushima nuclear power plant meltdown. Industry imports are expected to increase at an average annual rate of 4.6% to $237.1 million in the five years to 2012. Samadi says, “industry imports also experienced a boost in response to the Fukushima meltdown, growing 27.5% in 2011.” Most industry operators (including major player Thermo Fisher Scientific) have significant operations overseas, capitalizing on global demand.

In the five years to 2017, the Radiation Measuring Device industry's revenue is forecast to increase. During this period, an increase in industrial production, research and development funding and medical spending will drive industry growth as businesses expand budgets after reducing spending during the Great Recession. The industry will continue aggressive growth in 2012 and 2013 due to heightened demand for industry products in response to the Fukushima reactor meltdown in 2011, helping push demand and growth rates back to historical levels.

For more information visit IBISWorld’s Radiation Measuring Device Manufacturing in the US industry page

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

This industry manufactures radiation measuring devices and systems for use by the private and public sectors.

IBISWorld industry Report Key Topics

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Gavin Smith
IBISWorld
+1(310) 866 5042
Email >
Visit website