Global Industrial Computed Tomography market will reach 430.43 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/10/16

In the past five years, industrial CT scanning has garnered a lot of interest within the part manufacturing industry and has become one of the more viable NDT methods used today, and for three distinct reasons: the accuracy industrial CT scanning offers, the wide variety of parts that can be inspected, and the ability to perform metrology and run various types of analysis with the scan results. QYR pointed out that the industry is mainly affected by the downstream industry due to its high price. Due to the weak industrial system in Southeast Asia, India, Africa and other places, the consumption of industrial CT in these areas is very small. The automotive industry in Europe and Japan; the US and Chinese aerospace industries and defense applications are the main drivers of the industry.

One of the contributing factors to industrial CT scanning’s growth is how the technology for digital detectors has improved. Not only have digital detectors improved in capturing better image quality, the increase in detector sizes has also allowed manufacturers who produce larger parts to use industrial CT scanning effectively as well. The ability to inspect internal features on a part with various complexities without the need to disassemble the part is one of the biggest contributing factors to why industrial CT scanning’s use is increasing among part manufacturers.

Precision measurements are able to be taken with the use of industrial CT scanning services. Even the most minor flaws are able to be identified with 3D imaging, allowing adjustments early in the process of development so that the final product has a higher degree of accuracy and quality. This yields increased customer satisfaction and, ideally, repeat business which is critical for long-term success.

Today’s industrial marketplace is increasingly competitive and requires the ability to reduce costs, raise production and increase accuracy for any business that is going to survive. For businesses that will truly thrive, the ability to lead development and get products to market faster is also critical.

The global sales of industrial CT increased from 204 units in 2013 to 296 units in 2017, at a CAGR of 9.75%. In 2017, the global industrial CT market is led by Europe. USA is the second-largest region-wise market. The global industrial CT market is valued at USD 268.05 million in 2017 and is expected to reach USD 430.43 million by the end of 2025, growing at a CAGR of 7.0% between 2017 and 2024.

Globally, the industrial CT is more concentrated due to its very high technical barriers. And some enterprises, like GE Measurement & Control, Yxlon International, ZEISS, Nikon Metrology and North Star Imaging, etc. are well-known for the wonderful performance of their x-ray inspection systems and industrial CT. At the same time, Europe, occupied 45.95% market share in 2017, is remarkable in the global industrial CT industry because of their market share and technology status of industrial CT.

The basic hardware configuration of an industrial CT scanner consists of three key components: the X-ray source, an adequate detection System and a very precise turntable. The recorded images are processed by dedicated computer software, which uses mathematic reconstruction algorithms, to generate the three-dimensional distribution of the absorption coefficient inside the object. Special visualization software enables a three-dimensional or cross-sectional viewing of the object. The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.

QYR analysis of the industrial CT market indicated that Europe would account for the highest revenue in 2024 with close to 47 percent of global sales coming from this region, but Asia has the highest growth rate. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks. In the future, QYR predicts that more and more companies will join the industry due to its potential market size. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves. 

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