USD 339.52 million
Industrial Computed Tomography Market Size, Share, Growth Analysis, By Offering(Equipment and Services), By Type(High-voltage CT, Micro CT, and Others), By Scanning Technique(Fan-beam CT, Cone-beam CT, and Other), By Application(Flaw Detection & Inspection, Failure Analysis, Assembly Analysis, Dimensioning & Tolerancing Analysis), By Vertical(Oil & Gas, Aerospace & Defense, Automotive, Electronics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2411 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
95
|Figures:
66
Industrial Computed Tomography Market Insights
Industrial Computed Tomography Market size was valued at USD 339.52 million in 2021 and is poised to grow from USD 360.23 million in 2022 to USD 578.50 million by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).
The market growth of industrial computed tomography (CT) is being driven by the increasing adoption of additive manufacturing techniques in various industries, including automotive, aerospace, defense, and electronics. Additive manufacturing, or 3D printing, allows for the production of complex designs and structures that are difficult and expensive to create using traditional manufacturing methods.
Industrial CT scanners play a crucial role in testing the strength and capabilities of structures produced through additive manufacturing. These scanners enable manufacturers to evaluate complex designs without causing any damage to the product.
The advantages of industrial CT, such as precise scanning of micro and large parts, help reduce product development costs. Additionally, various inspection capabilities offered by this technology, such as failure analysis, flaw detection, and assembly analysis, contribute to improved product quality and lower product recall risks. As a result, the use of computed tomography in the industrial sector is expected to drive market growth in the foreseeable future.
US Industrial Computed Tomography Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Equipment
Fastest Growth
Equipment
Growth Rate
6% CAGR
Industrial Computed Tomography Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Industrial Computed Tomography Market Segmental Analysis
Global Industrial Computed Tomography Market is segmented by offering, type, scanning technique, application, vertical, and region. Based on offering, the market can be segmented into Equipment and Services. Based on type, the market is segmented into High-voltage CT, Micro CT, and Others. Based on scanning technique, the market is segmented into Fan-beam CT, Cone-beam CT, and Other. Based on application, the market is segmented into Flaw Detection & Inspection, Failure Analysis, Assembly Analysis, Dimensioning & Tolerancing Analysis, and Others. Based on vertical, the market is segmented Oil & Gas, Aerospace & Defense, Automotive, Electronics, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Industrial Computed Tomography Market Analysis By Offering
The market is categorized into two segments, namely services and equipment. The equipment segment held the largest market share of 51.8% in 2022 and is projected to grow at a CAGR of 7.1% during the forecast period. Market players offer a variety of equipment options, with software for computed image reconstruction typically included in the system price. Innovations in industrial CT software, such as ZEISS Group's ZEISS Automated Defect Detection (ZADD), which utilizes Artificial Intelligence (AI) for automated defect analysis, are expected to drive growth in this segment.
On the other hand, the services segment is expected to exhibit the fastest CAGR of 7.7% throughout the forecast period. This segment includes computed tomography inspection services, support, maintenance, and consulting services. The high cost of industrial CT scanners has led to the increased outsourcing of CT services to third-party providers, allowing companies to reduce their capital investment significantly. This trend has contributed to the strong growth of the services segment in the market.
Industrial Computed Tomography Market Analysis By Application
The market is segmented by application into failure analysis, assembly analysis, flaw detection and inspection, dimensioning and tolerancing analysis, and others. The flaw detection and inspection segment held the largest share of 25.0% in 2022 and is projected to witness the highest CAGR of 8.6% throughout the forecast period.
The significant share of the flaw detection and inspection segment can be attributed to the increasing need for product inspection to identify flaws, cracks, damages, or deviations from the intended design. Industrial CT systems are effective in reducing production costs by enabling manufacturers to quickly and accurately test and analyze minor defects that may not be easily traceable through traditional inspection methods.
The assembly analysis segment is expected to grow at a CAGR of 7.2% during the forecast period. Industries such as automotive, aerospace, and electronics are increasingly utilizing assembly analysis to inspect and analyze assembled products, gaining insights into the placement and condition of internal components without disassembling or damaging the product. Computed tomography plays a crucial role in detecting incorrectly assembled or missing components, contributing to the growth of this segment.
Industrial Computed Tomography Market By Offering
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Industrial Computed Tomography Market Regional Insights
In 2022, Asia Pacific emerged as the dominant region in the industrial CT market, holding a revenue share of 33.6%. It is projected to experience the fastest CAGR of 8.2% throughout the forecast period. The region boasts prominent market players like Nikon Corporation, OMRON Corporation, and Shimadzu Corporation, and benefits from high manufacturing activities in countries such as China, Japan, and India. The significant share in global Manufacturing Value Added (MVA) held by Asia & Oceania, as reported by United Nations Industrial Development Organization (UNIDO), further drives market growth in the region.
Meanwhile, North America is expected to exhibit substantial growth, with a CAGR of 7.6% during the forecast period. The region benefits from its well-developed technology infrastructure and the presence of key industrial CT market players like Baker Hughes Company and North Star Imaging Inc. (Illinois Tool Works Inc.). Increased investments by industry players in the adoption of new and advanced technologies are contributing to the growth of the North American market. Additionally, the presence of various industrial CT inspection services providers, such as Jesse Garant Metrology Center in Canada and Exact Metrology in the U.S., further support the regional market's expansion.
Industrial Computed Tomography Market By Geography
- Largest
- Fastest
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Industrial Computed Tomography Market Dynamics
Industrial Computed Tomography Market Drivers
Advancements in Additive Manufacturing
- The increasing use of additive manufacturing in various industries is driving the demand for industrial computed tomography. CT scanning enables non-destructive testing and validation of complex 3D printed parts.
Industrial Computed Tomography Market Restraints
High Initial Investment
- The implementation of industrial computed tomography systems requires an initial investment that includes equipment cost, software, and skilled personnel. This can be a barrier for small and medium-sized enterprises (SMEs) with limited financial resources.
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Industrial Computed Tomography Market Competitive Landscape
The market for industrial CT equipment and services is moderately consolidated and expected to face high competition due to the presence of numerous providers. Prominent players in the market are adopting innovative strategies and focusing on product development to gain a competitive advantage. For instance, in May 2022, Shimadzu Corporation, based in Japan, introduced the XSeeker 8000, a compact and lightweight X-ray CT system capable of producing images of various samples, including aluminum die-cast and resin-molded parts. Through this product launch, the company aimed to enhance its offerings and meet the evolving needs of its customers.
Industrial Computed Tomography Market Top Player’s Company Profile
- Nikon Metrology NV
- OMRON Corp.
- Baker Hughes Company
- YXLON International
- ZEISS Group
- VJ Group
- Rigaku Corp.
- Shimadzu Corp.
- Werth, Inc.
- North Star Imaging, Inc.
Industrial Computed Tomography Market Recent Developments
- In March 2021, ZEISS unveiled the ZEISS Xradia CrystalCT micro-computed tomography (microCT) system. This advanced technology facilitates three-dimensional crystallographic imaging of various polycrystalline materials. It finds applications across diverse sectors, including metal and alloy analysis, additive manufacturing, ceramics, and pharmaceutical studies, serving both industrial and academic laboratories.
- In December of 2020, Waygate Technologies introduced a groundbreaking high-energy Computed Tomography (CT) system called Phoenix Power|scan HE. This innovative system stands out with an impressive energy level of 9 mega electron volts (MeV), signifying a significant advancement of 20 times in penetration energy in comparison to the conventional 450 kilo electron volts (keV) standard. The Phoenix Power|scan HE system's augmented energy capacity enables exceptional precision in scanning and measuring internal characteristics within crucial high-density components and assemblies. Noteworthy is its capability to accommodate considerably large components, boasting dimensions of up to 2 meters in diameter and height, and a maximum weight capacity of 1000 kg. For streamlined handling and loading, the system comes equipped with an integrated crane mechanism.
Industrial Computed Tomography Key Market Trends
- Increased Applications in Research and Development:: The industrial CT market is expanding its applications in research and development activities. CT scanning is being used to study and analyze materials, components, and prototypes during the product development phase. This enables manufacturers to identify flaws, optimize designs, and improve product performance, ultimately reducing time-to-market and development costs.
Industrial Computed Tomography Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Industrial Computed Tomography Market analysis, the rising adoption of additive manufacturing techniques and the focus on non-destructive testing (NDT) across industries are the key growth drivers. Advancements in software capabilities, increased applications in research and development, and the demand for customization are driving market expansion. Asia-Pacific is emerging as a significant market, driven by growing manufacturing activities and investments in advanced technologies. Integration with Industry 4.0 and the focus on environmental sustainability are additional factors contributing to market growth. The industrial CT market's diverse applications, including precise inspections of complex structures, make it crucial for various industries seeking efficient and reliable testing solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 339.52 million |
| Market size value in 2030 | USD 578.50 million |
| Growth Rate | 6% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Industrial Computed Tomography Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Industrial Computed Tomography Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Industrial Computed Tomography Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Computed Tomography Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Computed Tomography Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industrial Computed Tomography Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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