Radon Measurement Instrument Market Share, Growth Analysis, Company Profiles and Forecast to 2030
The Radon Measurement Instrument Market Share is expected to reach $1.1 billion by 2030
The Radon Measurement Instrument Market Share was valued at $0.5 billion in 2020, and is expected to reach $1.1 billion by 2030, registering a CAGR of 7.5% from 2021 to 2030.
The major players profiled in the radon measurement instrument market include ABB, Bertin Instruments, Durridge, FJ Specialty, Ludlum Measurements, Inc., Pylon Electronics, Rad Elec Inc., SARAD GmbH, SunRADON LLC and Tracerlab GmbH. Major players in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the radon measurement instrument market.
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Radon measurement instrument is also known as radon testers, radon detectors, and radon analyzers. The basic application of this instrument is to test presence of radon in the surrounding by collecting air samples for longer or shorter period as per requirement. These radon measurement instrument analyze radon level through active and passive detection method. Radon measurement instruments are used in industries, research laboratories, and houses & commercial spaces.
The major driving factor of the radon measurement instrument is its installation in workplaces to detect radon levels and further plan measures to reduce it, if the levels are higher than recommended. In addition, radon causes lung cancer and excess exposure to radon is harmful to human health. Therefore, awareness about human health is another factor that drives the radon measurement instrument market globally.
However, high cost of installation of radon measurement instruments and the system that operates the instrument acts as restraint for the radon measurement instrument market. Furthermore, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the radon measurement instrument market growth.
However, this situation is expected to improve as governments have started relaxing norms around the world for resuming business activities.
On the contrary, integration of IoT in the radon measurement instrument makes them operate more efficiently and is anticipated to open new avenues for the radon measurement instrument market during the forecast period.
The radon measurement instrument market is segmented into mechanism, measurement duration, application and region. By mechanism, the market is segregated into active and passive. On the basis of measurement duration, it is divided into long term and short term. The applications covered in the study include residential & commercial, research laboratories and industrial. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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