Industrial X-ray Inspection Systems Market: Meticulous Research® Uncovers the Reasons for Market Growth at a CAGR of 10.3% to Reach $1.03 Billion by 2028 - Digital Journal

2022-05-27 22:40:43 By : Mr. Simon Zhao

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Industrial X-ray inspection systems are used to detect defects or flaws in any product without any destruction or disassembly. These systems are used in several industries, including oil & gas, electronics, semiconductors, automotive, and aerospace. The adoption of industrial X-ray inspection systems is increasing in various industries as it detects defects without compromising the structural integrity of the products while providing high efficiency, precision, and speed, thus maintaining high product quality.

Industrial X-ray systems play an important role in product R&D, manufacturing, fabrication, and installation processes. The end-user demand for industrial X-ray inspection systems is increasing due to various factors, including stringent safety standards, increasing consumer awareness for quality products and finished goods, rising security concerns, increasing manufacturing automation, and miniaturization of products and internal components.

In its latest publication on the industrial X-ray inspection systems market, Meticulous Research® states that the market will grow at a CAGR of 10.3% from 2021–2028 to reach $1.03 billion by 2028.

Stringent government regulations regarding the safety of assets, increasing consumer awareness regarding quality standards, and rising security concerns in strategic infrastructure installations are the factors driving the growth of the industrial X-ray inspection systems market.

However, the availability of substitute technologies and high equipment and maintenance costs are expected to restrain the growth of this market to a certain extent.

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To provide efficient analysis, Meticulous Research® has segmented this market based on component (hardware, software, support services, consumables), imaging technique (digital imaging, film-based imaging), dimension (2D X-ray systems, 3D X-ray systems), vertical (electronics & semiconductors, aerospace, automotive, public infrastructure, power generation, oil & gas, food & beverage, manufacturing, other verticals), and geography.

Based on component, the industrial X-ray inspection systems market is segmented into hardware, software, support services, and consumables. The hardware segment is expected to command the largest share of the industrial X-ray inspection systems market in 2021. The large market share of this segment is attributed to the increasing demand for high-quality X-ray detection solutions and technological advancements.

Based on imaging techniques, the industrial X-ray inspection systems market is segmented into digital imaging and film-based imaging. The digital imaging segment is estimated to account for the larger share of the industrial X-ray inspection systems market in 2021. The large market share of this segment is due attributed to factors such as digitalization, rising industrial automation, rising quality standards, and safety. Additionally, this segment is expected to register the highest CAGR throughout the forecast period.

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Based on type, the digital imaging market is segmented into direct radiography, computed radiography, and computed tomography. The direct radiography segment is expected to account for the largest market share in 2021. The large market share of this segment is attributed to its effective dynamic range, high contrast detectability, accurate image capture, less radiation exposure, high flexibility, and lower operational costs. These features contribute to the adoption of direct radiography in various industries.

Based on dimensions, the industrial X-ray inspection systems market is segmented into 2D X-ray systems and 3D X-ray systems. The 2D X-ray system is expected to account for the larger market share in 2021. The major factors attributed to the large market share of this segment are its use in various automotive, aerospace, defense, and manufacturing industries to detect defects or faults in the final products. Additionally, the increasing adoption of 2D X-ray systems across these industries drives the growth of this segment.

Based on the vertical, the industrial X-ray inspection systems market is segmented into electronics and semiconductors, aerospace, automotive, public infrastructure, power generation, oil & gas, food & beverages, manufacturing, and other verticals. Among these verticals, the electronics and semiconductors segment is expected to account for the largest market share in 2021. The large market share of this segment is attributed to the rising usage of X-ray inspection systems for 3D packaging in electronics and the integration of X-ray inspection in non-destructive testing of components, PCB assemblies, and solder joints. Additionally, this segment is expected to register the highest CAGR during the forecast period.

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Based on geography, this market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the industrial X-ray inspection systems market in 2021. The large market share of this region is attributed to the rising demand for industrial X-ray systems in the oil & gas industry.

 North America is followed by Asia-Pacific and Europe in terms of revenue share. Asia-Pacific is expected to register the highest CAGR during the forecast period.

The COVID-19 pandemic had a massive negative impact on the industrial X-ray inspection systems market in North America. Major oil & gas companies in the region decreased their investments in inspection-related activities due to low production and depressed oil prices.

The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market participants in the industrial X-ray inspection systems market over the last four years (2018–2021).

The key players profiled in the industrial X-ray inspection systems market are North Star Imaging, Inc. (U.S.), Nikon Metrology, Inc. (U.S.), Nordson Corporation (U.S.), YXLON International GmbH (Germany), VJ Group, Inc. (U.S.), 3DX-RAY Ltd (U.K.), VisiConsult X-ray Systems & Solutions GmbH (Germany), Smiths Detection Group Ltd. (U.K.), Mettler Toledo International Inc. (U.S.), Maha X-ray Equipment Private Limited (India), Baker Hughes Company (U.S.), Ishida Co., Ltd. (Japan), Carl Zeiss AG (Germany), Ametek.Inc. (U.S.), and Thermo Fisher Scientific Inc. (U.S.).

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