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Industrial X-ray Inspection Equipment and Imaging Software Market Size (2024 - 2029)

The Industrial X-ray Inspection Equipment and Imaging Software market is experiencing growth driven by its increasing adoption in industries such as aerospace, defense, and semiconductors, with a notable rise in demand within the electronics sector due to advancements in component technology. The expansion of semiconductor fabrication plants, particularly in the Asia-Pacific region, is significantly contributing to the market's growth. Additionally, the oil and gas industry continues to be a major sector for this market, focusing on asset protection of aging infrastructure. Despite potential supply chain disruptions from events like the COVID-19 outbreak, the market is poised for recovery as manufacturing operations resume.

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Market Size of Industrial X-ray Inspection Equipment and Imaging Software Industry

Industrial X-ray Inspection Equipment And Imaging Software Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.70 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Industrial X-ray Inspection Equipment And Imaging Software Market Key Players

*Disclaimer: Major Players sorted in no particular order

Industrial X-ray Inspection Equipment and Imaging Software Market Analysis

The Industrial X-ray Inspection Equipment and Imaging Software market was valued at USD 604.3 million in 2020, and it is expected to reach USD 1032.14 million by 2026, registering a CAGR of 7.7%, during the period of 2021 - 2026. Some of the initial industries that pioneered the use of X-ray inspection for quality control include the aerospace and defense and semiconductor industries.

  • Computed Tomography (CT) has found an increasing acceptance in the manufacturing landscape, particularly in the electronics industry, largely due to the evolution of components in focal point sizes and which need advanced inspection systems.
  • Increasing number of semiconductor fabrication plants or fabs are expected to drive the demand for X-ray inspection equipment, especially in Asia-Pacific. For instance, in 2019, Screen Holdings, a semiconductor and electronics company (headquartered in Japan), announced the completion of its manufacturing facility, to produce semiconductor equipment.
  • According to Shin-Etsu Micro Inc., by 2019, the total number of 300 mm foundries reached 155, opening several opportunities for the X-ray inspection equipment and imaging software market.
  • The oil and gas industry remains one of the most prominent industries in the market and is expected to retain its position over the forecast period. Asset protection of aging infrastructure, in contrast to new investments in equipment, due to the plummeting crude oil prices, is driving the radiography market in the oil and gas industry.
  • The recent COVID-19 outbreak in China could bring instability in the supply chain of the market; however, according to the latest updates, many companies have restored or will restore their manufacturing operations soon. For instance, in April 2020, Europe-based Detection Technology PLC announced the official production launch at its new production and service site in the Greater Shanghai area.

Industrial X-ray Inspection Equipment and Imaging Software Industry Segmentation

X-ray technology has been commonly associated with the healthcare and R&D sectors for several years. However, in recent times, technology has expanded into the manufacturing environments, which is helping several end-user industries improve the quality of production. Industrial x-ray is a method of non-destructive testing where many types of manufactured components can be examined to verify the internal structure and integrity of the specimen.

Offering
Equipment
Software
Technology
Film Radiography
Computed Radiography
Direct Radiography
Computed Tomography
End-user Industry
Aerospace
Food Industry
Construction
Oil and Gas
Automotive and Manufacturing
Energy and Power
Semiconductor and Electronics
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
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Industrial X-ray Inspection Equipment and Imaging Software Market Size Summary

The industrial X-ray inspection equipment and imaging software market is experiencing significant growth, driven by its application in various sectors such as aerospace, defense, and semiconductors. The increasing complexity of components, particularly in the electronics industry, has led to a rising acceptance of computed tomography (CT) in manufacturing processes. The demand for X-ray inspection equipment is further bolstered by the expansion of semiconductor fabrication plants, especially in the Asia-Pacific region. The oil and gas industry remains a major end user, with the need for inspection services growing rapidly, particularly in North America. Despite challenges posed by fluctuating oil prices and the COVID-19 pandemic, which affected supply chains, the market is poised for continued expansion.

The market landscape is moderately concentrated but is shifting towards fragmentation due to lower initial investment requirements for manufacturing and reverse engineering. Key players such as North Star Imaging Inc., General Electric Company, and Nikon Corporation are prominent in the market. Strategic partnerships and initiatives, like the collaboration between ULC and Nikon, aim to enhance X-ray imaging techniques, benefiting various sectors from medicine to aerospace. Additionally, developments in the automotive and nuclear energy sectors, particularly in China, Japan, and India, are expected to drive demand for industrial X-ray inspection equipment and imaging software. These factors collectively contribute to the market's growth trajectory over the forecast period.

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Industrial X-ray Inspection Equipment and Imaging Software Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Market Drivers

      1. 1.4.1 Growing Demand for Portable and Miniaturized Equipment

      2. 1.4.2 Recovering Demand from the Oil and Gas Industry

    5. 1.5 Market Challenges

      1. 1.5.1 High Cost of the Equipment

      2. 1.5.2 Training and Regulatory Concerns

    6. 1.6 Assessment of Impact of Covid-19 on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Offering

      1. 2.1.1 Equipment

      2. 2.1.2 Software

    2. 2.2 Technology

      1. 2.2.1 Film Radiography

      2. 2.2.2 Computed Radiography

      3. 2.2.3 Direct Radiography

      4. 2.2.4 Computed Tomography

    3. 2.3 End-user Industry

      1. 2.3.1 Aerospace

      2. 2.3.2 Food Industry

      3. 2.3.3 Construction

      4. 2.3.4 Oil and Gas

      5. 2.3.5 Automotive and Manufacturing

      6. 2.3.6 Energy and Power

      7. 2.3.7 Semiconductor and Electronics

      8. 2.3.8 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia-Pacific

      4. 2.4.4 Latin America

      5. 2.4.5 Middle East and Africa

Industrial X-ray Inspection Equipment and Imaging Software Market Size FAQs

The Industrial X-ray Inspection Equipment and Imaging Software Market is projected to register a CAGR of 7.70% during the forecast period (2024-2029)

YXLON International, General Electric Company, Nikon Corporation, North Star Imaging Inc. and Carestream Health Inc. are the major companies operating in the Industrial X-ray Inspection Equipment and Imaging Software Market.

Industrial X-ray Market Report Snapshots

Industrial X-ray Inspection Equipment & Imaging Software Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)