Overview and Scope
Industrial X-ray inspection equipment and imaging software are tools used in various industries to inspect the quality and integrity of products without damaging them. Industrial X-ray inspection equipment utilizes X-rays to penetrate materials and create images of the internal structure. This allows for detecting defects, faults, or foreign objects hidden from view.
Sizing and Forecast
The industrial X-ray inspection equipment and imaging software market size has grown rapidly in recent years. It will grow from $0.80 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to demand for non-destructive testing (NDT), regulatory standards, growth in manufacturing industries, cost efficiency, and increased demand for quality assurance.
The industrial X-ray inspection equipment and imaging software market size is expected to see rapid growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to industry 4.0 integration, emerging applications, demand for high-resolution imaging, focus on sustainability, and evolving regulatory landscape. Major trends in the forecast period include integrating artificial intelligence (AI), portable and handheld solutions, digitalization of workflows, multi-modal imaging systems, and advanced materials and additive manufacturing.
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Segmentation & Regional Insights
The industrial x-ray inspection equipment and imaging software market covered in this report is segmented –
1) By Offering: Equipment, Software
2) By Technology: Film Radiography, Computed Radiography, Direct Radiography, Computed Tomography
3) By End-User Industry: Aerospace, Food Industry, Construction, Oil And Gas, Automotive And Manufacturing, Energy And Power, Semiconductor And Electronics, Other End-User Industries
Top 5 Major Players:
Asia-Pacific was the largest region in the industrial X-ray inspection equipment and imaging software market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial x-ray inspection equipment and imaging software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing automotive production is expected to propel the growth of the industrial X-ray inspection equipment and imaging software market going forward. There is growing automotive production due to several factors, including increasing consumer demand, globalization of manufacturing processes, and government incentives promoting the automotive industry. Industrial X-ray inspection equipment and imaging software allow manufacturers to inspect internal structures and detect defects or inconsistencies in automotive parts, such as welds, castings, and composite materials. For instance, in May 2023, according to the European Automobile Manufacturers Association (ACEA), a Belgium-based association, 85.4 million motor vehicles were produced globally in 2022, an increase of 5.7% compared to 2021. Therefore, the growing automotive production is driving the growth of the industrial X-ray inspection equipment and imaging software market.
Key Industry Players
Major companies operating in the industrial x-ray inspection equipment and imaging software market are Hitachi Ltd., Siemens AG, General Electric Company, Thermo Fisher Scientific Inc., Danaher Corporation, Canon Inc., Baker Hughes Company, OMRON Corporation, Olympus Corporation, Teledyne Technologies Inc., Nikon Corporation, Bruker Corporation, Hamamatsu Photonics K.K., Carestream Health, Mistras Group Inc., Rigaku Corporation, Eddyfi Technologies, YXLON International, North Star Imaging Inc., Sonatest Ltd., Zetec Inc., Durr NDT GmbH & Co. KG, Aran Electronics Ltd., Bosello High Technology SRL, Fischer Technology Inc
The industrial x-ray inspection equipment and imaging software market report table of contents includes:
1. Executive Summary
2. Industrial X-Ray Inspection Equipment And Imaging Software Market Characteristics
3. Industrial X-Ray Inspection Equipment And Imaging Software Market Trends And Strategies
4. Industrial X-Ray Inspection Equipment And Imaging Software Market – Macro Economic Scenario
5. Global Industrial X-Ray Inspection Equipment And Imaging Software Market Size and Growth
…
32. Global Industrial X-Ray Inspection Equipment And Imaging Software Market Competitive Benchmarking
33. Global Industrial X-Ray Inspection Equipment And Imaging Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial X-Ray Inspection Equipment And Imaging Software Market
35. Industrial X-Ray Inspection Equipment And Imaging Software Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Industrial X-Ray Inspection Equipment And Imaging Software Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Industrial X-Ray Inspection Equipment And Imaging Software Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Industrial X-Ray Inspection Equipment And Imaging Software Market, Segmentation By End-User Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Hitachi Ltd. Financial Performance
Table 75: Siemens AG Financial Performance
Table 76: General Electric Company Financial Performance
Table 77: Thermo Fisher Scientific Inc. Financial Performance
Table 78: Danaher Corporation Financial Performance
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