Pune, India, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The global x-ray inspection system market size was valued at USD 2.27 billion in 2022 and is expected to be worth USD 2.37 billion in 2023. The market is projected to reach USD 3.44 billion by 2030, recording a CAGR of 5.4% during the forecast period.
X-ray inspection is a technique of non-invasive testing that uses radiography to detect Corrosion Under Insulation or CUI. X-ray inspection methods are widely used in the automotive, pharmaceutical, and food industries to enhance the quality of the final product. The ability of this inspection system to detect the most minute flaws and help industries improve their operations is predicted to fuel the x-ray inspection system market growth.
Fortune Business Insights™ displays this information in a report titled, "X-Ray Inspection System Market, 2023-2030."
Get a Sample Research Report:
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- North Star Imaging Inc. (U.S.)
- Nikon Metrology, Inc. (U.S.)
- Nordson Corporation (U.S.)
- YXLON International GmbH (Germany)
- VJ Group, Inc. (U.S.)
- Mettler Toledo International Inc. (U.S.)
- Ametek, Inc. (U.S.)
- Viscom AG (Germany)
- ViTrox Corporation Berhad (Malaysia)
- Test Research, Inc. (Taiwan)
Report Scope & Segmentation:
| ATTRIBUTE | DETAILS |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.4 % |
| 2030 Value Projection | USD 3.44 Billion |
| Market Size in 2023 | USD 2.37 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 147 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| X-Ray Inspection System Market Growth Drivers | Market Growth to be Driven by Increasing Need for Quality Assurance Checks from Different Sectors |
| Stringent Safety Regulations to Augment Market Development |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/x-ray-inspection-system-market-105227
COVID-19 Impact:
COVID-19 Restrained Market Growth due to Reduced Demand for X-Ray Inspection Systems from Various Sectors
The COVID-19 pandemic had a major impact on the global supply chains, which also adversely affected the availability and supply of x-ray inspection machines and services. The production, procurement, and shipment of x-ray inspection systems faced several delays due to temporary closure of manufacturing facilities, which compelled producers to scale back their production. These factors negatively influenced the market growth.
Segments:
Rising Use of Digital Imaging to Conduct Non-Destructive Testing to Boost Market Progress
Based on technique, the market is classified into film-based imaging and digital imaging. The digital imaging segment is expected to be the dominating and fastest growing segment during the forecast timeline as digital x-rays instantly convert the image into digital data, which can be viewed in seconds. Moreover, the growing number of non-destructive tests will further bolster the demand for digital imaging.
Advancements in Medical Scanning Technologies to Fuel Adoption of Direct Radiography
Based on digital imaging, the market is segmented into computed tomography, computed radiography, and direct radiography. The direct radiography segment will be the dominant segment in the future due to the introduction of advanced scanning technologies in the healthcare sector. Direct radiography does not need intermediate processing steps to receive digital signals, making scans quicker and easier to obtain.
Ultra-HD Scan Technology to Gain Traction due to Rising Security Concerns
Based on scanning technology, the market is classified into HD and ultra-HD. The ultra-HD segment is anticipated to dominate the x-ray inspection system market share during the forecast period due to rising security concerns at airport terminals, public places, and transit stations.
Growing Need for 3D Imaging Solutions in Aerospace & Defense to Augment Market Progress
In terms of dimension, the market is classified into 2D and 3D. The 3D segment held the maximum share in 2022 as the demand for 3D imaging machines is rising across the aerospace & defense sector to boost public security.
Non-Destructive Testing to Dominate due to High Demand for Advanced Inspection Services
Based on application, the market is divided into PCB & passive electronics inspection, non-destructive testing, foreign contaminants inspection, agricultural, bird & animal imaging & inspection, flaw detection & dimensional inspection, leak detection & weld verification, physical properties estimation, case depth determination, and others. The non-destructive testing segment will dominate the market due to rising demand for quality inspection services from various end-user industries
Growing Demand for X-Ray Systems to Inspect Oil & Gas Infrastructure to Augment Product Use in Oil & Gas Segment
Based on end-user, the market is classified into oil & gas, energy & utilities, food processing, healthcare & pharmaceuticals, agricultural, bird & animal imaging & inspection, aerospace & defense, industrial manufacturing, automotive, and others. The oil & gas segment is estimated to dominate the x-ray inspection system market share as these systems are being widely demanded to check for corrosion, welding issues, and storage tank checks that are a part of the oil & gas infrastructure.
With respect to region, the market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Get a Quote Now:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/x-ray-inspection-system-market-105227
Report Coverage:
The report covers various factors such as quality control, research & development capabilities, optimization of operations, and raw material production. It provides valuable insights into the latest market trends, forecast, and competitive landscape of key market players. Apart from the abovementioned factors, the report encompasses several factors boosting the market’s growth.
Drivers and Restraints:
Rising Demand for Quality Assurance from Different Industries to Amplify Market Growth
The demand for x-ray inspection products and services has increased considerably over the years as they play a crucial role in identifying defects, verifying the quality and integrity of materials, and preventing accidents. Several industry verticals, such as aerospace, automotive, power, manufacturing, and oil & gas, give high importance to quality assurance. This factor has prompted manufacturers to innovate their existing offering of x-ray inspection systems to increase their accuracy and effectiveness in identifying hidden flaws. These developments will boost the product adoption.
However, high machine costs and shortage of skilled labor force can hinder the market growth.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/x-ray-inspection-system-market-105227
Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest Technological Advancements
- Porter’s Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of COVID-19 Pandemic on Global X-Ray Inspection System Market
- Global X-Ray Inspection System Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definition
- Market Analysis, Insights and Forecast - By Technique
-
- Film Based Imaging
- Digital Imaging
-
- Market Analysis, Insights and Forecast - By Digital Imaging
-
- Computed Tomography
- Computed Radiography
- Direct Radiography
-
- Market Analysis, Insights and Forecast - By Scanning Technology
-
- HD
- Ultra-HD
-
- Market Analysis, Insights and Forecast - By Dimension
-
- 2D
- 3D
-
- Market Analysis, Insights and Forecast - By Application
-
- PCB & Passive Electronics Inspection
- Non-Destructive Testing
- Foreign Contaminants Inspection
- Agricultural, Bird & Animal Imaging & Inspection
- Flaw Detection & Dimensional Inspection
- Leak Detection & Weld Verification
- Physical Properties Estimation
- Case Depth Determination
- Others
-
- Market Analysis, Insights and Forecast - By End User
-
- Industrial Manufacturing
- Energy & Utilities
- Food Processing, Healthcare and Pharmaceuticals
- Agricultural, Bird & Animal Imaging & Inspection
- Aerospace and Defense
- Oil & Gas
- Automotive
- Others
-
- Market Analysis, Insights and Forecast - By Region
-
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
-
TOC Continued…!
Speak to Our Expert:
Regional Insights:
North America to Dominate due to the Presence of Key OEMs and Service Providers
North America dominated the global market in 2022 and is expected to maintain its dominance in the coming years as well due to the notable presence of well-known OEMs and service providers. These OEMs are manufacturing state-of-the-art x-ray inspection products and solutions to increase their customer base.
Europe held the second-largest market share due to the rising demand for Non-Destructive Testing (NDT) systems from the region’s power industry.
Competitive Landscape:
Key Players to Focus on Corporate Growth Strategies to Gain Competitive Edge
The market has a vast presence of key players such as Nikon Metrology, Inc., North Star Imaging Inc., YXLON International GmbH, and Nordson Corporation, among others. These companies are focusing on various corporate growth strategies, such as mergers, acquisitions, partnerships, technological innovations, and new product launches, to obtain a strong competitive edge.
Ask For Customization:
Key Industry Development:
December 2022 - 3DX-Ray received a major contract to deliver 16 of its ThreatScan-LT3 units to an unidentified security agency in southern Europe to use them in Explosive Ordinance Disposal (EOD) operations. The ThreatScan-L3 is a high-throughput and compact x-ray scanning solution that can penetrate steel up to 40mm at 120kV and up to 60mm at 150kV.
Read Related Insights:
Reusable Launch Vehicle Market to Be Worth USD 5.41 Billion By 2030; Increased Usage of High Payload Rockets to Drive Market Forward
LiDAR Drone Market is projected to grow USD 455.0 million by 2028, at a CAGR of 17.98%
Aero Wing Market Size to grow USD 20.35 billion in 2028 with exhibiting a CAGR of 8.98%
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune - 411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Follow Us: LinkedIn | Facebook | Twitter
Attachment
