Global Industrial Computed Tomography Market

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.

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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 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. 'Nikon Metrology NV', 'OMRON Corp.', 'Baker Hughes Company', 'YXLON International', 'ZEISS Group', 'VJ Group', 'Rigaku Corp.', 'Shimadzu Corp.', 'Werth, Inc.', 'North Star Imaging, Inc.'

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.

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.

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.

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Global Industrial Computed Tomography Market

Report ID: SQMIG15E2411

$5,300
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