New York, Jan. 11, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Bank, the value added by the manufacturing industry around the globe touched USD 13.47 Trillion (in current USD) in the year 2020, up from USD 9.333 Trillion in the year 2009. Moreover, the value of exports of goods and services worldwide grew from USD 7.93 Trillion (in current USD) in the year 2000 to USD 22.435 Trillion in the year 2020.
Kenneth Research has recently added a report on “Global X-Ray Detector in Industrial Sector Market” which is studied for the forecast period, i.e., 2021-2030. The report includes the latest market trends, key opportunities along with the factors that are anticipated to drive the market growth in the coming years. Moreover, the report also utilizes various analytical tools to analyze the growth strategies of the different organizations operating in the market.
The manufacturing industries around the world are growing significantly. With the growing number of manufacturers worldwide and their increasing trade, there is also a growing need amongst these organizations to improve their product quality. X-ray machines are one such piece of equipment that is used for analyzing the quality of a product in a manufacturing process line. The rise in the use of these X-ray machines is expected to drive the demand for X-ray detectors, and in turn, contribute to market growth. The global X-ray detector in industrial sector market registered a revenue of USD 209.53 Million in the year 2020 and is further projected to garner a revenue of USD 336.74 Million by the end of 2030 by growing with a CAGR of 4.95% during the forecast period.
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The market is also anticipated to grow on account of the growing use of X-ray detectors in the automobile industry, backed by the surge in the production of automobile vehicles worldwide. According to the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), the production of vehicles globally touched 91786861 units in the year 2019, up from 58374162 units in the year 2000. Besides this, the surge in the trade of apparatus based on the use of X-rays other than for medical purposes, the value of imports of which according to the statistics by the International Trade Center (ITC), touched USD 3104810 Thousand in the year 2019, up from USD 2286566 Thousand in the year 2014, is also projected to contribute to the market growth in the coming years.
The global X-ray detector in industrial sector market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America registered the largest revenue of USD 68.77 Million in the year 2020 and is further expected to touch USD 112.51 Million by the end of 2030. The market in the region is further segmented by country into the United States and Canada. Out of these, the market in the United States is anticipated to garner the largest revenue by the end of 2030, and also grow with the highest CAGR of 5.26% during the forecast period.
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On the other hand, the market in the Asia Pacific is projected to garner the second-largest revenue of USD 93.82 Million by the end of 2030 by growing with the highest CAGR of 6.14% during the forecast period. The market in the region generated a revenue of USD 52.11 Million in the year 2020. The market in the region is further segmented by country into China, India, Japan, South Korea, Australia, Singapore, and the Rest of Asia Pacific. Amongst the market in these countries, the market in China registered the largest revenue of USD 19.37 Million in the year 2020 and is further expected to reach USD 37.46 Million by the end of 2030. Moreover, the market in India is projected to grow with the highest CAGR of 7.35% during the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global X-ray detector in industrial sector market is segmented on the basis of technology into flat-panel detectors, computed radiography (CR) detectors, line scan detectors, and charge-coupled device detectors. Amongst these segments, the flat-panel detectors segment registered the largest revenue of USD 103.47 Million in the year 2020 and is further expected to reach USD 165.16 Million by the end of 2030. In North America, the segment is projected to reach a revenue of USD 55.03 Million by the end of 2030, up from a revenue of USD 33.96 Million by the end of 2020. Additionally, in the Asia Pacific, the segment registered a revenue of USD 25.73 Million in the year 2020, and is further projected to reach USD 45.89 Million by the end of 2030.
The global X-ray detector in industrial sector market is further segmented by end-use applications into aerospace & defense, automotive, electronics & semiconductors, heavy industries & manufacturing, construction, oil & gas, and others. Amongst these segments, the heavy industries & manufacturing segment registered the largest revenue of USD 53.97 Million in the year 2020, and is further expected to touch USD 89.41 Million by the end of 2030. In North America, the segment is projected to garner the largest revenue of USD 30.17 Million by the end of 2030, up from a revenue of USD 17.90 Million in the year 2020. Moreover, in Europe, the segment generated the largest revenue of USD 14.27 Million in the year 2020 and is further expected to touch USD 22.61 Million by the end of 2030.
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The global X-ray detector in industrial sector market is also segmented on the basis of portability.
Global X-Ray Detector in Industrial Sector Market, Segmentation by Portability
- Fixed Detectors
- Portable Detectors
Some of the prominent industry leaders in the global X-ray detector in industrial sector market that are included in our report are Varex Imaging Corporation, Thales Group, Teledyne Digital Imaging Inc., Canon Inc., Hamamatsu Photonics K.K., FUJIFILM Holdings Corporation, Carestream Health, DRTECH Co., Ltd., Vieworks Co., Ltd., Konica Minolta, Inc., iRay Technology, CareRay Medical Technologies, PROTEC GmbH & Co. KG, Waygate Technologies (Baker Hughes Company), and others.
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