The global industrial x-ray market accounted for US$ 644 Mn in 2021 and is expected to reach US$ 1,170 Mn by 2030 with a considerable CAGR of 7% during the forecast timeframe of 2022 to 2030.
X-rays are the use of electromagnetic radiation to create images of things or objects that the naked eye cannot see. In the healthcare profession, x-rays are being used to create an image that reveals the condition of the human body, such as images of tissue, bones, or internal organs. Similarly, in industrial applications, X-rays are being used to assist examiners to identify faults and defects that might not be visible to the naked eye. Furthermore, industrial x-rays have two primary applications: for manufacturers, it is used to look for defects within the material, and for inspectors, it is used to look for defects in infrastructure and resources to ensure they are safe to use and meet mandated inspection requirements. In recent times, industrial x-rays have been widely used in automotive and aviation applications to examine vehicle and aircraft parts using x-ray testing. However, the industrial x-ray monitoring system has provided aerospace and automotive manufacturers with a better and more efficient way to detect any manufacturing and production errors.
|Market||Industrial X-Ray Market|
|Market Size 2020||US$ 644 Mn|
|Market Forecast 2028||US$ 1,170 Mn|
|CAGR||7% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Type, By Dimension, By End-User, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Nikon Metrology NV, YXLON International GmbH, VJ Group Inc., Nordson DAGE, Samsung Medison Co., Ltd., 3DX-RAY Ltd., Smiths Detection Inc., North Star Imaging Inc., VisiConsult X-ray Systems & Solutions GmbH, Mettler-Toledo International Inc., Smiths Group Plc., and General Electric Co.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Industrial X-Ray Market Dynamics
Industrial x-ray systems aid in improving the overall production of industries to identifying the reliability of products, and verifying the internal structure's integrity. As a result, the primary factor driving the market growth is their rising applications across various end-user industries, such as oil and gas, automotive, semiconductor and electronics, aerospace, construction, and food and beverage. Furthermore, the industry's leading players are working on next-generation digital radiography automated systems that are incorporated with flat-panel detectors to provide better resolution and increased efficiency, which is catalyzing the market growth. Aside from that, the growing demands for compact devices, as well as the rising trend of electronics micromachining, are driving up the demand for the industrial x-rays market.
Moreover, Safety is an important issue for production workers in process plants because equipment problems or defects can hinder the safety of workers and the general public. Manufacturing facility authorities must ensure that their assets are performing optimally to save money on machinery replacement or repair. Asset reliability is important for avoiding asset breakdowns and unplanned maintenance. These factors increase the demand for Industrial X-ray Systems for asset monitoring and repair to ensure asset stability and security.
Market By Type
Based on the type, digital radiography is expected to grow at a rapid pace in the coming years. Digital radiography is a system that provides inspection data that is faster, safer, and more detailed than traditional radiography. Improved discontinuity evaluation, improved image clarity and data storage, relatively small perimeters, enhanced performance, and minimal safety hazards are some of the advantages. Furthermore, digital radiography enhances the ability to detect errors and insolvency in damaged structures, particularly those caused by corrosion and erosion.
Market By Dimension
Based on the dimension, the 2D x-ray system is expected to have a larger market share in 2021. This segment's large market share can be attributed to its use in the automotive, aerospace, defense, and manufacturing sectors to detect defects or errors in final products. Furthermore, the 3D segment is expected to grow at the fastest rate during the forecasted time span. The growing demand for 3D industrial x-ray systems in a variety of industries, from semiconductors and electronics to automotive and aerospace manufacturing, as well as their critical role in quality control, can be attributed to the expansion of the industrial x-ray market.
Market By End-Use Industry
In terms of the end-use industry, the oil and gas industry held the largest market share in 2021. If the refinery facilities are not carefully monitored, oil leaks or spills can eventually occur in the oil and gas sector, resulting in extremely high cleanup costs. As a result, the popularity of industrial x-rays is increasing in these industries. For safe and uninterrupted operations, the deep-sea petroleum industry needs to rely on trusted equipment. Therefore, non-destructive equipment has become critical in the oil and gas industry, creating opportunities for the industrial x-ray. Furthermore, industrial x-rays are highly beneficial in the oil and gas industry for evaluating welded joints and rust on a gas pipeline and pressure vessels. This method includes the use of X-rays to investigate or examine the internal integrity and stability of the equipment.
Industrial X-Ray Market Regional Overview
During the forecast period, the APAC industrial x-ray market is expected to grow at the fastest CAGR. Strict government safety regulations have resulted in a high trend for industrial x-ray systems in this region. Furthermore, the consumer electronics sector is rapidly expanding as a result of the global increase in demand for numerous consumer electronic products, which is leading to an increase in the deployment of such systems to reduce errors and maintenance costs. In addition, an increase in infrastructural development, a rapid recovery in the semiconductor industry, government consumer protection laws, and increased R&D investments are propelling growth opportunities in the region. Furthermore, rapid technological developments and a greater emphasis on R&D by manufacturers are expected to generate tremendous opportunities for the growth of the industrial x-ray market.
Some of the prominent players in global Industrial X-Ray market are Nikon Metrology NV, YXLON International GmbH, VJ Group Inc., Nordson DAGE, Samsung Medison Co., Ltd., 3DX-RAY Ltd., Smiths Detection Inc., North Star Imaging Inc., VisiConsult X-ray Systems & Solutions GmbH, Mettler-Toledo International Inc., Smiths Group Plc., and General Electric Co.
The estimated value of Global Industrial X-Ray Market in 2021 was accounted to be US$ 644 Mn and market projected to reach US$ 1,170 by 2030
The projected CAGR of Global Industrial X-Ray Market during the analysis period of 2021 to 2030 is 7%
The prominent players of the global Industrial X-Ray market involve Nikon Metrology NV, YXLON International GmbH, VJ Group Inc., Nordson DAGE, Samsung Medison Co., Ltd., 3DX-RAY Ltd., Smiths Detection Inc., North Star Imaging Inc., VisiConsult X-ray Systems & Solutions GmbH, Mettler-Toledo International Inc., Smiths Group Plc., and General Electric Co.
Asia-Pacific held the dominating share for industrial x-ray during the analysis period of 2022 to 2030
North America region exhibited fastest growing CAGR for industrial x-ray during the analysis period of 2022 to 2030
Growing demands for NDT services in the aerospace and automotive industries and strict government regulations regarding safety aspects are the prominent factors that fuel the growth of global industrial x-ray market
Based on dimension, 2D held the maximum share for industrial x-ray market in 2021