Industrial Computed Tomography Equipment Market by End-user, Application, and Geography - Forecast and Analysis 2023-2027

Industrial Computed Tomography Equipment Market Forecast 2023-2027 

The industrial computed tomography equipment market is estimated to grow by USD 131.34 million at a CAGR of 8.15% between 2022 and 2027. The growth of the market depends on several factors, including the renewed demand from the oil and gas industry, the technological benefits of using these, and the growing regulatory compliance requirements. 

 It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Industrial Computed Tomography Equipment Market During the Forecast Period?

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Market Dynamics

Growing regulatory compliance requirements are notably driving the market growth, although factors such as disruption of the image quality due to the presence of scattering particles may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Growing regulatory compliance requirements are notably driving the market growth. The manufacturing sector is governed by regulations and national and regional policies. End-users or product manufacturers must comply with policies and regulations to avoid product recalls or penalties. Over the years, the regulations pertaining to product quality and safety in industries have increased. The oil and gas, and chemical industries are some of the most hazardous industries as they involve the use of heavy equipment and machinery, flammable chemicals, and operations that are performed under high-pressure conditions. New regulations related to workforce safety and carbon emissions have increased the need for CT testing in these industries.

This is used to ensure that the machines and devices do not have defects. The testing of such equipment is extensively used for the monitoring and maintenance of pipelines in the oil and gas industry. Pipelines require a significant level of scrutiny. Therefore, growing regulatory compliance requirements is one of the drivers which is expected to boost the growth of the global market during the forecast period. 

Market Trend

The advent of new types of materials is the primary trend in the market. Stakeholders of industries are experimenting with new types of materials in manufacturing processes to meet the changing requirements of end-users. For instance, in the automotive and aerospace industries, many new grades of advanced high-strength steel are being used, such as AHSS 101. The welding of high-strength steel poses a problem as it is prone to cracks compared with mild steel. Therefore, high-strength steel requires a higher level of inspection. These industries use CT equipment to identify cracks. Furthermore, automotive OEM companies are increasingly adopting lightweight materials for the vehicle body, chassis, interior, power train, and under-the-hood applications. Hence, lightweight materials are one of the top priorities among OEM manufacturers.

CT is also used for inspecting plastic parts. During the plastic injection molding process, every change in the molding process can cause a significant delay and incur huge costs. Therefore, it is imperative to use a technique that can find anomalies thoroughly and quickly. CT is known for offering accuracy and speed, reducing the overall process with respect to time and cost. The use of new composite materials to produce plastic components has also increased the need for CT. Therefore, the advent of new types of materials is a growing trend, which is expected to drive the growth of the global market during the forecast period.

Key Market Challenge

The disruption of the image quality due to the presence of scattering particles is the major challenge impeding the growth. End-users of this require precise data and automated inspection to simplify the workflow. This would include identifying a defective part in a product, initiating the CT scanning process, acquiring data rapidly, and verifying results. CT equipment is required to inspect objects with detectors for both the NDT as well as a metrology of complex outer and inner structures. Despite technological advances enabling CT equipment to scan at a much higher speed, the reconstruction of images is impacted by scattering particles.

Scatter particles affect the image of a product and may make the detection of very small and minute errors difficult. Therefore, complete accuracy may not be guaranteed by these due to the presence of scattering particles. This creates the need for technologies that can make the scanning system more autonomous as well as provide clearer and more accurate and vivid results. Substitutes for these such as industrial magnetic resonance imaging (MRI), provide a higher image resolution and have fewer scattered particles. This makes the images more clear and more vivid. This advantage poses a challenge to these in fields such as NDT. Hence, disruption of the image quality due to the presence of scattered particles can become a major challenge for the growth of the global market during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Industrial Computed Tomography Equipment Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Baker Hughes Co.  - The company operates under multiple segments including oilfield services, and oilfield equipment among others with a high focus on oilfield services. The company under this segment offers advanced drilling and evaluation technologies to drill and place wells in productive zones to ensure well integrity and reservoir connectivity. The company's key offerings include industrial computed tomography equipment across industries.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Avonix Imaging
• Blue Star Ltd.
• Bruker Corp.
• Carl Zeiss AG
• Comet Yxlon GmbH
• CyXplus SAS
• Dandong Aolong Radiative Instrument Group Co. Ltd.
• General Electric Co.
• Nikon Corp.
• North Star Imaging Inc.
• OMRON Corp.
• Pinnacle X ray Solutions Inc.
• ProCon X Ray GmbH
• Rigaku Corp.
• RX Solutions

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

The market share growth by the flaw detection and inspection segment will be significant during the forecast period. CT equipment is widely used across industries to check for any flaws in the product design or to inspect the construction of end products after production. The segment is expected to grow during the forecast period because of the need to ensure defect-free end products and their maximum safety and performance.

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The flaw detection and inspection segment shows a gradual increase in the global market share of USD 74.47 million in 2017 and continued to grow until 2021. These can replace four popular types of flaw detection and inspection methods, magnetic part inspection, eddy current testing, ultrasonic testing, and optical NDT. The key products used for flaw detection and inspection include XT H 320 from Nikon Corporation for the X-ray and CT inspection of large samples. Such wide applications of these are estimated to drive the growth of the global market in the flaw detection and inspection segment during the forecast period.

Which are the Key Regions for the Market?

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APAC is projected to hold a 34% share in 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The automotive sector is the most common end-user of this equipment. Many automotive manufacturing centers are present in the region. This is because of the availability of low-cost labor in APAC countries such as China, India, Vietnam, South Korea, and Malaysia compared with countries such as the US, the UK, and Germany in other regions. Some of the companies operating in the market in focus in the region are Carl Zeiss, Illinois Tool Works, Nikon, and Shimadzu.

Also, the region is witnessing substantial investments in the automotive value chain, especially for manufacturing and R and D facilities, mainly in China, South Korea, India, Vietnam, and Thailand. For instance, in December 2018, the Government of India articulated its objectives for the development of the automotive industry in the country through the Automotive Mission Plan 2016-2026. Through the plan, the government aims to increase investments from global companies operating in the automotive sector. This can increase the production and sales of automobiles in the region and increase the demand used in scanning and inspection applications.

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook (USD Million, 2017 - 2027)
  • Automotive
  • Aerospace
  • Electronics
  • Oil and gas
  • Others

• Application Outlook (USD Million, 2017 - 2027)
  • Flaw detection and inspection
  • Assembly analysis
  • Failure analysis
  • Others

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile 
    • Brazil
    • Argentina

Market Analyst Overview

The Market is experiencing rapid growth across various segments including automotive, electronics, oil & gas, and aerospace industries. Industrial CT scanners such as high-voltage CT, micro CT, fan-beam CT, and cone-beam CT are revolutionizing inspection processes with their high precision and efficiency. Major players like ZEISS Group, Baker Hughes Company, and Collins Aerospace Systems are driving innovation in this sector, integrating artificial intelligence and additive manufacturing technologies. Companies like McLaren, Rolls Royce, and BAE Systems leverage industrial CT scanning for quality assurance in aerospace applications. The U.S. Industrial Computed Tomography Market, along with global organizations like OECD, plays a pivotal role in shaping industry standards and regulations. With increasing demand for accurate inspection and quality control, the Industrial Computed Tomography Equipment Market is poised for continued expansion.

The industrial landscape encompasses various segments, each with its unique characteristics and requirements. The automotive segment, driven by technological advancements and consumer demand, continues to evolve with a focus on electric and autonomous vehicles. The electronics segment, characterized by rapid innovation, shapes modern life with cutting-edge devices and components. In contrast, the oil & gas segment navigates fluctuating market dynamics, balancing supply and demand amid geopolitical factors and environmental concerns. The equipment segment, vital for industrial operations, encompasses a wide range of machinery and tools essential for manufacturing and infrastructure development.

Complementing these segments is the services segment, which provides critical support and expertise, ranging from maintenance and repair to consulting and logistics. Application insights offer valuable perspectives into how technologies are utilized across industries, driving innovation and efficiency. Vertical insights delve deeper into specific industries such as aerospace, electronics, and oil & gas, highlighting trends, challenges, and opportunities unique to each sector. In the aerospace industry, advancements in materials and technology drive innovation in aircraft design and manufacturing, while the electronics industry continues to push boundaries with miniaturization and connectivity. Industrial imaging research and industrial automation research play crucial roles in enhancing productivity and quality across various sectors, leveraging technologies like automation and artificial intelligence. Industrial CT scanning has emerged as a valuable tool for non-destructive testing and inspection, with companies like Jesse Garant Metrology Center leading the way in providing advanced scanning services.

Energy companies like GDF Suez, EDF, and Areva navigate the complexities of the global energy landscape, adapting to regulatory changes and investing in renewable energy technologies. International organizations like the Organisation for Economic Co-operation and Development (OECD) provide valuable insights and guidance for economic development and policy-making. Innovations such as 3D printing and artificial intelligence are transforming industries, offering new possibilities for design, manufacturing, and data analysis. Within this dynamic environment, the aerospace computed tomography business is poised for growth, offering specialized imaging solutions tailored to the unique needs of the aerospace sector. As industries continue to evolve, collaboration and innovation will drive progress and shape the future of industrial sectors worldwide.

Industrial Computed Tomography Equipment Market Scope
Report Coverage	Details
Page number	181
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.15%
Market growth 2023-2027	USD 131.34 million
Market structure	Fragmented
YoY growth (%)	7.28
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 34%
Key countries	US, China, Japan, Germany, and France
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Avonix Imaging, Baker Hughes Co., Blue Star Ltd., Bruker Corp., Carl Zeiss AG, Comet Yxlon GmbH, CyXplus SAS, Dandong Aolong Radiative Instrument Group Co. Ltd., General Electric Co., Nikon Corp., North Star Imaging Inc., OMRON Corp., Pinnacle X ray Solutions Inc., ProCon X Ray GmbH, Rigaku Corp., RX Solutions, Shanghai Eastimage Equipment Co. Ltd., Shimadzu Corp., VJ Group Inc., and Werth Messtechnik GmbH
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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