Industrial Computed Tomography Industry Overview
The global industrial computed tomography market size is expected to reach USD 765.8 million by 2028, registering a CAGR of 7.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The increasing use of CT scanners in industries, such as automotive, electronics, oil & gas, and aerospace among several others, is anticipated to boost the market growth over the forecast period. Moreover, a rise in the demand for advanced electronics is expected to support market growth.
Industrial Computed Tomography Market Segmentation
Grand View Research has segmented the global industrial computed tomography market on the basis of offering, application, vertical, and region:
Based on the Offering Insights, the market is segmented into Equipment, Services.
- The equipment segment accounted for the highest revenue share of more than 58% in 2020, contributing to more than 58% of the global market revenue in 2020.
- Previously, companies preferred to buy CT scanners, including the line and cone beam scanners, due to confidentiality issues with the product design process, which is the primary reason for the high share of the equipment segment in the market.
- The services segment is anticipated to register the fastest CAGR of over 8.5% from 2021 to 2028. The capital-intensive nature of the industrial CT scanners has paved the way for the high growth of the services segment in the market.
Based on the Application Insights, the market is segmented into Flaw Detection & Inspection, Failure Analysis, Assembly Analysis, Dimensioning & Tolerancing Analysis, Others.
- The flaw detection & inspection segment accounted for the highest revenue share of more than 26% in 2020. The increasing need for inspection of the products to detect any flaw, crack, damage or variation from the designed product has been the key driver for the high share of this segment.
- The use of industrial CT systems for product inspections helps the manufacturer considerably reduce production/manufacturing costs. In addition, industrial CT scanners can quickly test and analyze minor defects that are not efficiently and effectively traceable using traditional inspection methods.
- The fastest growth is credited to the growing use of 3D printing technology and the increasing complexity of the products/parts. Furthermore, CT scanners are also used for several other purposes, including failure analysis, assembly analysis, dimensioning & tolerance analysis.
Based on the Vertical Insights, the market is segmented into Oil & Gas, Aerospace and Defense, Automotive, Electronics, Others.
- The automotive segment held the largest revenue share of more than 34% in 2020. The industrial CT systems are used in the automotive industry at various stages of the production process that include pre-production inspection, production inspection, parts sorting, as well as failure investigation.
- The scanners generate precise metrology data that enables the user to validate the conformity of the parts with the original CAD designs, which, in turn, helps in improving the overall product quality. In addition, dimensioning analysis is also conducted at various intervals during the production process, along with the tolerance analysis of the produced parts.
- The other verticals that use industrial computed tomography systems include oil & gas, aerospace & defense, and electronics. The electronics segment is anticipated to register the fastest CAGR of more than 8.5% from 2021 to 2028.
Industrial Computed Tomography Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is moderately consolidated with the presence of several equipment and service providers. These companies consistently undertake various strategical steps to strengthen their market presence and gain an advantage over their competitors.
Some prominent players in the global industrial computed tomography market include
- Nikon Metrology NV
- OMRON Corp.
- Baker Hughes Company
- YXLON International
- ZEISS Group
- VJ Group
- Rigaku Corp.
- Shimadzu Corp.
- Werth, Inc.
- North Star Imaging, Inc.
Order a free sample PDF of the Industrial Computed Tomography Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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