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Industrial X-Ray Inspection Systems Market by Component (Hardware, Software, Support Services, Consumables, Other) by Imaging Technique (Film-based Imaging, Direct Radiography, Computed Tomography, Computed Radiography , Others) by Dimensions (2D X-ray Systems, 3D X-ray Systems) by Vertical (Oil & Gas, Aerospace, Automotive, Electronics & Semiconductor, Public Infrastructure, Power Generation, Manufacturing etc) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

Industrial X-Ray Inspection Systems Market Analysis

The industrial X-ray inspection systems market will sustain a steady growth over the next decade. There is a rapid change in how industries operate with the continued evolution of advanced technologies. Industrial X-ray inspection systems are essential for risk management and quality control in industrial facilities.

X-ray inspection systems make identifying defects, inconsistencies, and problems in products easier. Important industries where these systems are widely used include the oil and gas, automotive, aerospace, industrial, scientific, and electronics sectors. The demand for X-ray equipment continues to be high in these industries since quality requirements and standards are increasingly stringent.

industrial-x-ray-inspection-systems-market

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The global Industrial X-Ray Inspection Systems market was valued at around USD 426.94 million and is projected to grow at a CAGR of over 10.2% during the forecast period to generate revenue of USD 955.92 million in 2027. The global Industrial X-Ray Inspection Systems market is likely to offer a cumulative growth opportunity equivalent to USD 5.24 billion in the next few years. 

Interesting Facts about Industrial X-Ray Inspection Systems Industry

  • Industrial X-Ray Inspection Systems cost ranges from USD 10,000 to USD 30,000
  • Leading Industrial X-Ray Inspection Systems markets in the world include the U.S., U.K., Japan, Brazil, and France
  • North America and Europe hold the largest share in the global Industrial X-Ray Inspection Systems market
  • The hardware segment dominated the global Industrial X-Ray Inspection Systems market with over 40%b shares in 2020
  • End-users are increasingly adopting 3D Industrial X-Ray Inspection Systems

A multitude of Benefits Offered by Industrial X-Ray Inspection Systems

A key benefit of X-ray inspection equipment is that it gives thorough information on equipment regardless of its contained package. Since X-ray imaging is non-invasive and provides comprehensive information, it is appropriate for industrial settings where it continues to find increased usage.

There are several more advantages to X-rays, including high precision and repeatability. Thanks to these characteristics, the identification, and detection of metal and non-metal defects can be easily identified using industrial X-ray equipment. Owing to these factors, the demand for X-ray inspection systems will continue to rise strongly during the coming years.

Innovative Techniques and Materials to Drive the Growth

Several trends are fuelling the growth of the industrial X-ray inspection system market. Introducing new processes and materials, increasing service life, low emissions targets, and a heightened focus on safety regulations are driving the growth of industrial X-ray systems. In addition, there are other significant drivers for the development of this market, like improved hardware, technological advancements, increased compactness of inspection systems, and digitalization.

North America to Rule the Industry

North America may become the worldwide leader in industrial X-ray inspection systems in five years. There are various reasons why this could happen. These include the increased rate of industrialization and more stringent safety standards.

Wide-Ranging Applications

Industrial X-ray inspection systems find use in several different industries. These systems reveal hidden defects that may be present under the surface. Hence, with the help of such equipment, potentially dangerous imperfections like cracks and voids that could cause failure can be discovered at the early stages. Therefore, industrial X-ray scanning systems inspect solid materials like rubber, silicon, composites, plastic, and metal.

Owing to its versatility, industrial X-ray inspection systems are now essential for various industrial procedures like installation, fabrication, manufacturing, and research and development.

Some factors driving the growth of the industrial X-ray inspection system market are increased government regulations about safety standards and increased consumer concerns over safety.

Hardware, Software, Support Services, and Consumables are some major component segments in the global industrial X-ray inspection system market. Hardware dominated with over 40% share in 2020. While based on technique, the industrial X-ray inspection system is segmented into Film-based Imaging, Direct Radiography, Computed Tomography, and Computed Radiography. Film-based imaging is the largest segment, with over 35% share in 2020.

On the other hand, 3D X-ray Systems are expected to grow at a rapid pace over the forecast period to trail behind 2D X-ray Systems. Oil & Gas, Aerospace, Automotive, Electronics & Semiconductor, Public Infrastructure, Power Generation, Manufacturing, Food & Beverages, and Other Verticals are major end-user industries of industrial x-ray inspection systems. Aerospace is the leading vertical with the highest share in 2020.

However, the covid-19 outbreak is a restraining factor for the industrial X-ray inspection system market. Industries worldwide have seen a decline in production levels, especially the automotive sector. Petroleum products are also in less demand owing to lockdowns and travel bans. Hence, these factors adversely affect the industrial X-ray inspection system market.

3DX-RAY Ltd., Anritsu Infivis Ltd., Baker Hughes Company, Bosello High Technology Srl, Mettler-Toledo International Inc., Minebea Intec, Nikon Metrology NV, Nordson DAGE, North Star Imaging, Inc., Shimadzu Corporation, Thermo Fisher Scientific, Inc., Toshiba I.T. & Control Systems Corporation, Vision Medicaid Equipments Pvt. Ltd., V.J. Group, Inc. and YXLON International GmbH are some of the leading players in global Industrial X-Ray Inspection Systems market.

Frequently asked questions about global Industrial X-Ray Inspection Systems industry

Likewise other industries, COVID 19 also taken a toll on Industrial X-Ray Inspection Systems market with around 14.27% decline in 2020 in its revenue as compare to 2019

North America is the largest regional market with highest share in the total volume of Industrial X-Ray Inspection Systems consumed in 2020

Increasing security standards and growing awareness among end-users

Hardware segment dominated the Industrial X-Ray Inspection Systems market in 2020

Aerospace was the largest distribution channel of Industrial X-Ray Inspection Systems in 2020

Industrial X-Ray Inspection Systems Report Scope

Report Attribute Details
Market Value in 2020 USD 426.94 million
Market Value in 2027 USD 955.92 million
CAGR 10.20% between 2021 and 2027
Benchmarking Year 2020
Past data 2016 – 2019
Forecast period 2021 – 2027
Report coverage Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Application, Company Share, Competitive Landscape and Trends Analysis
Segments covered

Component

Hardware

Software

Support Services

Consumables

Imaging Technique

Film-based Imaging

Direct Radiography

Computed Tomography

Computed Radiography

Dimensions

2D X-ray Systems

3D X-ray Systems

Vertical

Oil & Gas

Aerospace

Automotive

Electronics & Semiconductor

Public Infrastructure

Power Generation

Manufacturing

Food & Beverages

Other Verticals

Major Players Analysed 3DX-RAY Ltd., Anritsu Infivis Ltd., Baker Hughes Company, Bosello High Technology srl, Mettler-Toledo International Inc., Minebea Intec, Nikon Metrology NV, Nordson DAGE, North Star Imaging, Inc., Shimadzu Corporation, Thermo Fisher Scientific, Inc., Toshiba IT & Control Systems Corporation, Vision Medicaid Equipments Pvt. Ltd., VJ Group, Inc. and YXLON International GmbH
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Jan 2022
Category:  Technology & Media
Report ID:   60472
Report Format:   PDF
Pages:   134
Rating:    4.5 (23)
Delivery Time: 24 Hours to 48 Hours   
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