Global Industrial Computed Tomography Market By Application (Flaw Detection & Inspection, Failure Analysis, Assembly Analysis, Dimensioning & Tolerancing Analysis and Others), By Offering (Equipment and Services), By Vertical (Automotive, Electronics, Aerospace & Defense, Oil & Gas and Others), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Global Industrial Computed Tomography Market size is expected to reach $719.2 Million by 2027, rising at a market growth of 6.9% CAGR during the forecast period. In the field of clinical diagnostics, x-ray computed tomography has been popular for quite a long. Moreover, x-ray computed tomography is increasingly becoming prevalent in industrial NDT (nondestructive testing). However, the primary principles are the same for both domains; a medical CT scanner needs a complicated system of a rotating X-ray source and detection system - the so-called gantry - to keep the patient in a stable position, while the object itself can be easily rotated by a turntable in an industrial CT system.
A high number of industries are realizing the fact that X-ray CT scanning is a crucial device in order to ensure maximum product quality. Flaw detection, assembly analysis, metrology, failure analysis, and reverse engineering applications are a few of the major uses for industrial CT scanning. With the help of high-powered x-rays, Industrial CT scanning can penetrate the internal parts of an object, developing an ideal inspection device for high-value parts where destructive testing is financially banned.
Industrial CT scanners are deployed to examine the strength and abilities of the designs/structures created with the help of the additive manufacturing process. These scanners are useful for the makers to examine and calculate the capabilities/features of the complicated structures without damaging the product. Thus, the industrial computed tomography market would witness new avenues for growth due to the massive demand for 3D printing technology across healthcare, automotive, electronics, and other industries.
COVID-19 Impact Analysis
The market has witnessed different kinds of challenges due to the global outbreak of the COVID-19 pandemic. The demand for industrial CT scanners has been reduced due to the disruptions in the supply chain, along with the decrease in manufacturing abilities of several companies. On the other hand, the global industrial computed tomography would witness gradual growth due to the relaxations in the lockdown norms around the world, and the rising dissemination of coronavirus vaccines. In addition, organizations are adopting strategic changes in their mode of operations to be ready for the same kind of future uncertainties, which would revive the market growth in the next few years.
Market Growth Factors:
Non-destructive method of testing
Industrial CT scanning takes the help of radiographic technology in order to generate multiple 2D pictures of an object. Due to this non-destructive factor of industrial CT scanning, it becomes a viable and ideal choice for advanced analysis, reverse engineering, and quality inspection for parts and assemblies with complicated geometry and hard to evaluate features.
The growing number of applications of industrial CT scanning
The results of industrial CT scanning enable users to examine the internal and external geometries of an object. These results can be utilized for various kinds of applications such as coordinate measurement and GD&T programming. In addition, an industrial CT scan can also be utilized to assess internal errors like cracks, structural integrity, and variations from the initial design.
Market Restraining Factor:
Some technological limitations will hamper the market growth
The possibility of artifacts in the data is one of the major limitations of CT imaging. An artifact refers to anything in the image that does not precisely display the real geometry in the part being scanned. As they are not real, artifacts restrict the ability of the user to quantitatively obtain dimensional, density, or other data from the image. Few of the image artifacts can be decreased or ruined with CT scanning by enhanced scanning procedures.
Based on Application, the market is segmented into Flaw Detection & Inspection, Failure Analysis, Assembly Analysis, Dimensioning & Tolerancing Analysis and Others. The flaw detection & inspection segment acquired the biggest revenue share of the industrial computed tomography market in 2020. Factor that is responsible for the massive share of this segment includes a surge in the requirement for inspection of the items to identify any fault, crack, or deviation from the manufactured product. By deploying industrial CT systems for product inspections, manufacturers can substantially decrease the cost of production or manufacturing.
Based on Offering, the market is segmented into Equipment and Services. The services segment would be the fastest-growing segment during the forecast period. The massive growth of the segment is due to the high amount of investment required for industrial CT scanners. Organizations are more willing to outsource the CT services to the vendors in the market because of the low cost, thereby substantially lowering down their capital investment.
Based on Vertical, the market is segmented into Automotive, Electronics, Aerospace & Defense, Oil & Gas and Others. The electronics segment would display the fastest growth rate during the forecast period. CT scanning is a non-destructive testing mode for inspection which is highly utilized in the electronics sector in order to examine the internal parts & assemblies, molded circuits, and check whether the electronic components are showing the ideal functioning.
|Market size value in 2020||USD 435.1 Million|
|Market size forecast in 2027||USD 719.2 Million|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 6.9% from 2021 to 2027|
|Number of Pages||247|
|Number of Tables||384|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Offering, Vertical, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific would exhibit the fastest growth rate during the forecast period. Factor such as the massive acceptance of industrial CT systems for testing and inspection purposes among several industries, like aerospace & defense, electronics, and automotive is responsible for the growth of this region. The region is increasingly becoming a hub for automotive and electronics manufacturing organizations.
KBV Cardinal Matrix - Industrial Computed Tomography Market Competition Analysis
Free Valuable Insights: Global Industrial Computed Tomography Market size to reach USD 719.2 Million by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Illinois Tools Works, Inc. is the forerunner in the Industrial Computed Tomography Market. Companies such as Omron Corporation, Nikon Corporation, and Shimadzu Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, Carl Zeiss AG, Shimadzu Corporation, Baker Hughes Company, Comet Holding AG (YXLON International), VJ Group, Inc., Werth, Inc. (Werth Messtechnik GmbH), Rigaku Corporation, Illinois Tools Works, Inc. (North Star Imaging, Inc.), and Nikon Corporation (Nikon Metrology NV).
Recent Strategies Deployed in Industrial Computed Tomography Market
Partnerships, Collaborations, and Agreements:
- Mar-2021: Zeiss signed a multi-year partnership with Williams Racing, a British Formula One motor racing team, and constructor. Under this partnership, Zeiss Industrial Quality Solutions would deliver a variety of equipment benefiting departments across the business that includes Quality & Inspection, Wind Tunnel, and Prototype & Test.
- Jun-020: Rigaku came into an agreement with JEOL, developer, and manufacturer of electron microscopes and other scientific instruments, industrial equipment, and medical equipment. This agreement aimed to jointly develop a MicroED platform to resolve the structures of sub-micron crystals utilizing electron crystallography. The objective of the joint development is the combination of Rigaku’s high-sensitivity, high-speed HPC detector and state-of-the-art CrysAlisPro structure analysis software platform along with JEOL’s top-performance transmission electron microscope technology. The resulting system would offer researchers a comprehensive integrated solution for carrying out MicroED experiments.
- May-2020: Nikon Metrology came into a distribution partnership with WENZEL, a provider of modern solutions for industrial coordinate measuring technology. This partnership aimed to offer customers the unique integration of innovative CMMs, with Nikon Metrology’s unequaled laser scanning technology.
Acquisitions and Mergers:
- May-2021: Zeiss announced the acquisition of Capture 3D, a leader in 3D Scanning technology, photogrammetry, and automated inspection solutions. This acquisition will expand the presence of the company in the US for its Industrial Quality & Research segment. Through this acquisition, the user will get advantage from an effortless combined experience to gain the best measuring solutions for their particular tasks.
- Dec-2020: Zeiss announced the acquisition of a majority of stakes in BOSELLO HIGH TECHNOLOGY. This acquisition will safeguard the long-term development of the company and its existing customers. This acquisition aims at gaining new customers, opening up new markets, and further improves their existing systems.
Product Launches and Product Expansions:
- Jul-2021: North Star Imaging (NSI) unveiled a new range of High Energy X-ray systems, MeVX product line, which is available in 3, 6, and 9 Million Electron Volts (MeV). The MeVX line fulfills the requirements for higher energy X-ray inspection to deeply penetrate, dense parts, which cannot be scanned utilizing standard, lower energy, X-ray tool. Usage of a 3, 6, or a 9 MeVX is a high time-saving solution, particularly for defense, aerospace, automotive, and other latest technologies in which speed and superior, high-resolution images are needed for mission-crucial components.
- Jun-2021: Omron launched the latest technology for fulfilling inspections in the needed inline take time. It is among the most challenging needs for computed tomography (CT) X-ray automatic inspection equipment. There is a need for highly precise positioning control and high-speed image sensing for continuous imaging technology.
- Jun-2021: Zeiss released Entry-Level CT Solution, Zeiss METROTOM 1. Through this solution, Zeiss is launching an entry-level solution for the non-destructive inspection of components. Further, this system is a compact computed tomography system, which provides accurate outcomes and is easy to operate.
- May-2021: Nikon Metrology launched a new offset CT reconstruction algorithm in the industrial microfocus X-ray CT inspection solutions. This algorithm aims to provide better scan speed and image resolution. Through this new offset CT reconstruction algorithm in the new version of the manufacturer’s Inspect-X software, bigger components could be scanned and can also perform at higher geometric magnification.
- May-2021: Nikon introduced a microfocus spot CT system with upgraded levels of X-ray flux and magnification. This upgraded system aims to provide unrivaled acquisition speed and image quality. In addition, this innovation has been integrated with two other attributes, one is Offset.CT and another is the ability to differ the distance between the source and flat-panel detector.
- Apr-2021: Nikon Metrology introduced various advancements to its latest, 225 kV, microfocus X-ray CT system, the XT H 225 ST 2x. These advancements include Rotating.Target 2.0, which due to more efficient cooling allows a 3x smaller focal spot size for clearer imaging and Half.Turn CT, which is a novel way for almost halving the angle by which a specimen rotates in the X-ray cycle, accelerating the procedure without compromising on image quality.
- Mar-2021: Nikon Corporation launched the 225 kV, microfocus X-ray CT system, the XT H 225 ST 2x. This system allows both the exterior and interior of a sample to be examined and calculated non-destructively. This system can detect inside of the components that is not visible for failure analysis, quality control, and material research.
- Mar-2021: Zeiss Research Microscopy Solutions unveiled the Xradia CrystalCT micro-computed tomography system. This system includes advanced scanning modes that eliminate limitations of size and acquisition speed for routine samples in the high-productivity lab environment. The capability of the system to operate bigger sample sizes eliminates limitations in the lab, which leads to faster time to evaluate.
- Dec-2020: Waygate Technologies, a Baker Hughes business launched its first high-energy Computed Tomography (CT) system, the Phoenix Power|scan HE. This system is developed particularly for customers in tightly regulated industries, which are driven to consistently launch new materials and boost efficiency in production procedures.
- Jun-2020: YXLON International unveiled its latest universal X-ray and CT system, the Yxlon UX20. The operation of this system needs no specialized X-ray knowledge, which enables it to be utilized by even untrained persons to gain optimal inspection outcomes.
Scope of the Study
Market Segments Covered in the Report:
- Flaw Detection & Inspection
- Failure Analysis
- Assembly Analysis
- Dimensioning & Tolerancing Analysis
- Aerospace & Defense
- Oil & Gas
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Omron Corporation
- Carl Zeiss AG
- Shimadzu Corporation
- Baker Hughes Company
- Comet Holding AG (YXLON International)
- VJ Group, Inc.
- Werth, Inc. (Werth Messtechnik GmbH)
- Rigaku Corporation
- Illinois Tools Works, Inc. (North Star Imaging, Inc.)
- Nikon Corporation (Nikon Metrology NV)
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How valuable will the industrial computed tomography market be in the future?
The global industrial computed tomography market size is expected to reach $719.2 Million by 2027.
What are the key driving factors and challenges in the industrial computed tomography market?
The growing number of applications of industrial CT scanning are driving the market in coming years, however, some technological limitations will hamper the market growth limited the growth of the market.
What are the major top companies in the competitive landscape?
Omron Corporation, Carl Zeiss AG, Shimadzu Corporation, Baker Hughes Company, Comet Holding AG (YXLON International), VJ Group, Inc., Werth, Inc. (Werth Messtechnik GmbH), Rigaku Corporation, Illinois Tools Works, Inc. (North Star Imaging, Inc.), and Nikon Corporation (Nikon Metrology NV).
Has COVID-19 impacted the industrial computed tomography market?
Yes, The global industrial computed tomography would witness gradual growth due to the relaxations in the lockdown norms around the world, and the rising dissemination of coronavirus vaccines.
Which segment shows a high revenue share of the industrial computed tomography market in 2020?
The equipment segment procured the maximum revenue share of the industrial computed tomography market in 2020.
Which region shows high revenue share in the market?
The North America garnered the maximum revenue share of the industrial computed tomography market in 2020. The region will showcase a promising growth rate during the forecast period.