The radon measurement instrument market size was valued at $569.7 million in 2020, and is expected to reach $1,179.3 million by 2030, registering a CAGR of 7.5% from 2021 to 2030. Radon is a toxic chemical or gas and it can cause lung cancer in humans if it gets into the body. Radon is a radioactive noble gas that has no taste, odor, or color. Radon measurement instrument is a device that detects the concentration of radon in the surrounding air. Radon measurement instrument offers active and passive modes for radon detection in the atmosphere. Further the analysis can be carried out for long term period of 3 months to 1 year and for short term period of 2 days to 3 months. Radon levels are tested in residential, commercial, laboratories, and industrial infrastructures.
The major driving factor of the radon measurement instrument market is installation of radon measurement instrument in work spaces such as residential and commercial spaces. In addition, research laboratories and manufacturing industries are also sensitive zones and thus, radon testing is an essential process that is carried out. Moreover, radon is a toxic chemical or gas and it can cause lung cancer. Thus for safety of employees or people working in closed environment such as air-conditioned offices and at homes, radon measurement instrument are installed at work places. These are the major driving factors of the radon measurement instrument market. However, high cost of new instrument and its detection system acts as restraint to the market. The cost of the system is high, owing to the high cost of software, which actually detects radon gas and through sensors and further analyzes samples in the air. Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Offices and industries were closed. This led to decline in manufacturing of radon measurement instrument as well as their demand in the market, thereby restraining the radon measurement instrument market growth. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of radon measurement instrument companies at their full-scale capacities, which is expected to help the radon measurement instrument market to recover by end of 2021.
On the contrary, integration of IoT in systems to detect performance of radon testers further boost 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. 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).
By Mechanism
Passive segment is projected to grow at a significant 8.5% CAGR
On the basis of mechanism, in 2020, the active segment dominated the radon measurement instrument market, in terms of revenue, whereas the passive segment is expected to witness growth at the highest CAGR during the forecast period. In 2020, the long-term segment dominated the radon measurement instrument market, whereas the short-term segment is expected to witness growth at the highest CAGR in the future. By application, the industrial segment led the market in 2020, in terms of revenue; however, the residential & commercial segment is anticipated to register highest CAGR during the forecast period.
Region wise, Europe garnered the highest revenue in 2020; however, Asia-Pacific is anticipated to register highest CAGR during the forecast period.
By Application
Residential & Commercial segment is expected to grow at a significant rate during the forecast period.
Competition analysis
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 strategy to offer better products and services to customers in the radon measurement instrument market.
By Region
Europe holds a dominant position in 2020 and Asia-Pacific is expected to grow at a highest rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current trends, future estimations, and dynamics of the radon measurement instrument market.
- In-depth radon measurement instrument market analysis is conducted by estimations for the key segments between 2021 and 2030.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
- The market forecast analysis from 2021 to 2030 is included in the report.
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the radon measurement instrument industry.
Radon Measurement Instrument Market Report Highlights
| Aspects | Details |
 By MECHANISM |
|
 By MEASUREMENT DURATION |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | SARAD GmbH, Rad Elec Inc., Durriage, Tracerlab GmbH, ABB, Pylon Electronics, FJ Specialty, Bertin Instruments, SunRADON LLC (Sun Nucear Corporation), Ludlum Measurements, Inc. |
Analyst Review
The radon measurement instrument market was valued at $569.7 million in 2020, and is expected to reach $1,179.3 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.
Growth of the radon measurement instrument market is majorly driven by rise in health awareness among people as exposure to radon can cause lung cancer. In addition, installation of radon measurement instrument in workspaces to detect radon level drives the radon measurement instrument market.
However, high cost of radon measurement instrument and its operating systems act as a major restraint for the market. On the contrary, adoption of IoT in radon measurement instruments is expected to create opportunities for growth of the radon measurement instrument market during the forecast period.
Major companies in the market have adopted strategies such as product launch and business expansion to offer better services to customers in the radon measurement instrument market.
The radon measurement instrument market was valued at $569.7 million in 2020, and is expected to reach $1,179.3 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.
The forecast period considered for the global radon measurement instrument market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
To get latest version of global radon measurement instrument market report can be obtained on demand from the website.
The base year considered in the global radon measurement instrument market report is 2020.
The top companies holding the market share in the global radon measurement instrument market report include ABB, Bertin Instruments, Durridge, FJ Specialty, Ludlum Measurements, Inc., Pylon Electronics, Rad Elec Inc., SARAD GmbH, SunRADON LLC and Tracerlab GmbH.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
By mechanism, the active segment dominated the global radon measurement instrument market, in terms of revenue and is expected to maintain this trend during the forecast period.
By application, the industrial segment is the highest share holder of global radon measurement instrument market.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
The market value of the global radon measurement instrument market is $614.1 million in 2021.
Loading Table Of Content...
