Redding, California, Jan. 03, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled “Industrial X-ray Inspection System Market by Component (Hardware, Software), Imaging Technique (Digital, Film-Based), Dimension (2D X-Ray Systems, 3D X-Ray), Vertical (Electronics & Semiconductors, Oil & Gas), and Geography - Global Forecasts to 2028”, published by Meticulous Research®, the industrial X-ray inspection system market is expected to grow at a CAGR of 10.3% from 2021 to 2028 to reach $1.03 billion by 2028.
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Industrial X-ray inspection systems are used to detect defects or flaws in any product without any destruction or disassembly. These systems are used in several industries, including oil & gas, electronics, semiconductors, automotive, and aerospace. The adoption of industrial X-ray inspection system is increasing in various industries as it detects defects without compromising the structural integrity of the product while providing high efficiency, precision, and speed, thus maintaining high product quality.
Industrial X-ray systems play an important role in product R&D, manufacturing, fabrication, and installation processes. The end-user demand for industrial X-ray inspection systems is increasing due to various factors, including stringent safety standards, increasing consumer awareness for quality products and finished goods, rising security concerns, increasing manufacturing automation, and miniaturization of products and internal components.
Stringent government regulations regarding the safety of assets, increasing consumer awareness regarding quality standards, and rising security concerns in strategic infrastructure installations are the factors driving the growth of the industrial X-ray inspection systems market. Increasing automation in digital X-ray inspection systems, miniaturization of X-ray inspection systems for higher mobility, and increase in user-friendly interfaces due to technological advancements are projected to provide significant growth opportunities for vendors operating in this market.
However, the availability of substitute technologies and high equipment and maintenance costs are expected to restrain the growth of this market to a certain extent. Additionally, the lack of qualified personnel poses a major challenge for the growth of the industrial X-ray inspection systems market.
Impact of COVID-19 on the Industrial X-ray Inspection System Market
The COVID-19 pandemic had a major impact across numerous industries globally, with some industries either completely shutting down manufacturing operations following the directives issued by local governments or operating at minimal capacities to keep personnel safe.
The revenues of major companies decreased significantly due to disruptions in operations. X-ray inspection is an important process in various industries, including automotive, aerospace, and oil & gas. Hence the industrial X-ray inspection systems market was severely impacted due to reduced economic activity and operations in these industries.
The automotive sector, one of the major end-users of industrial X-ray inspection systems, witnessed a significant decrease in top-line revenues due to the COVID-19 pandemic. Disrupted supply chains and production losses lowered the requirements for industrial X-ray inspection services in the automotive industry.
Various factors, such as disruptions in the export of automotive parts from China, interruptions in Europe’s manufacturing sector, and the closure of assembly plants in the United States, further contributed to the decline, increasing pressure on an industry already coping with a lack of demand and increased mergers & acquisitions.
The rapid spread of the COVID-19 outbreak across borders resulted in lockdowns and border closures. The COVID-19 pandemic affected the demand for air travel globally, impacting the aerospace sector, specifically the airline industry, due to passenger behavior changes, government travel restrictions, and global economic downturns. There was an acute reduction of 40%–60% in passenger traffic across major regions. Hence, the sector faced reduced production, supply chain challenges, workforce limitations, and inventory bottlenecks due to travel restrictions.
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The electronics & semiconductors industry suffered considerable losses due to the COVID-19 pandemic. Despite the losses, the market is expected to recover once the situation normalizes. Manufacturing industries will gradually resume using X-ray inspection systems, but it is unlikely to be enough to compensate for the previous losses.
However, post-COVID-19, the demand for miniaturized X-ray systems is expected to increase among airports and commercial spaces to improve operational efficiency. The resumption of electronics & semiconductor manufacturing is also expected to contribute to market recovery.
Industrial X-ray Inspection System Market Overview
The industrial X-ray inspection system market is segmented based on component, imaging techniques, dimension, vertical, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on component, the industrial X-ray inspection system market is segmented into hardware, software, support services, and consumables. The hardware segment is expected to account for the largest share of the industrial X-ray inspection systems market in 2021. The large market share of this segment is attributed to the increasing demand for high-quality X-ray detecting solutions and technological advancements. However, the software segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to performing several functionalities, such as managing the workflow, image processing & determining, converting, and storing the signals received from various sensors digitally in a computer system.
Based on imaging techniques, the industrial X-ray inspection system market is segmented into digital imaging and film-based imaging. The digital imaging segment is expected to hold the larger share of the industrial X-ray inspection systems market in 2021. The large market share of this segment is attributed to factors such as digitalization, rising industrial automation, rising quality standards, and safety. Additionally, this segment is expected to register the highest CAGR throughout the forecast period.
Based on type, the digital imaging market is segmented into direct radiography, computed radiography, and computed tomography. The direct radiography segment is expected to account for the largest market share in 2021. Effective dynamic range, high contrast detectability, accurate image capture, less radiation exposure, high flexibility, and lower operational costs are some of the key factors attributed to the large market share of this segment. These features contribute to the adoption of direct radiography in various industries.
Based on dimensions, the industrial X-ray inspection system market is segmented into 2D X-ray systems and 3D X-ray systems. The 2D X-ray system is estimated to hold a larger market share in 2021. The large market share of this segment is attributed to its use in various automotive, aerospace, defense, and manufacturing industries to detect defects or faults in the final products. The increasing adoption of 2D X-ray systems across these industries drives the growth of this segment. However, the 3D X-ray systems segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to their use in used in numerous sectors, including manufacturing, electronics, and aerospace.
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Based on the vertical, the industrial X-ray inspection system market is segmented into electronics and semiconductors, aerospace, automotive, public infrastructure, power generation, oil & gas, food & beverages, manufacturing, and other verticals. Among these verticals, the electronics and semiconductors segment is expected to hold the largest market share in 2021. The large market share of this segment is attributed to the rising use of X-ray inspection for 3D packaging in electronics and the integration of X-ray inspection in non-destructive testing of components, PCB assemblies, and solder joints. Additionally, this segment is expected to register the highest CAGR during the forecast period.
Based on geography, the global industrial X-ray inspection system market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is estimated to account for the largest share of the global industrial X-ray inspection system market in 2021. The large market share of this region is primarily attributed to the rising demand for industrial X-ray systems in the oil & gas industry. The COVID-19 pandemic had a massive negative impact on the industrial X-ray inspection systems market in North America. Major oil & gas companies in the region decreased their investments in inspection-related activities due to low production and depressed oil prices.
The key players operating in the overall industrial X-ray inspection system market are North Star Imaging Inc. (U.S.), Nikon Metrology, Inc. (U.S.), Nordson Corporation (U.S.), YXLON International GmbH (Germany), VJ Group, Inc. (U.S.), 3DX-RAY Ltd (U.K.), Visiconsult GmbH (Germany), Smiths Detection Group Ltd. (U.K.), Mettler Toledo International Inc. (U.S.), Maha X-ray Equipment Private Limited (India), Baker Hughes Company (U.S.), Ishida Co., Ltd. (Japan), Carl Zeiss AG (Germany), Ametek, Inc. (U.S.), and Thermo Fisher Scientific Inc. (U.S.) among others.
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Scope of the Report:
Industrial X-ray Inspection System Market, by Component
- Hardware
- Software
- Support Services
- Consumables
Industrial X-ray Inspection System Market, by Imaging Technique
- Digital Imaging
- Digital Radiography
- Computed Radiography
- Computed Tomography
- Film-Based Imaging
Industrial X-ray Inspection System Market, by Dimension
- 2D X-ray Systems
- 3D X-ray Systems
Industrial X-ray Inspection System Market, by Vertical
- Electronics & Semiconductors
- PCB Inspection
- Solder Joint Inspection
- Wafer Inspection
- Automated Optical Inspection
- Other Applications
- Aerospace
- Aircraft Maintenance
- Composite Material Analysis
- Automotive
- Public Infrastructure
- Airport Security
- Railway Tracks
- Bridges and Tunnels
- Power Generation
- Nuclear Power Plants
- Renewable Energy Plants
- Non-Renewable Energy Plants
- Oil & Gas
- Subsea Pipeline Monitoring
- Transmission Pipeline Monitoring
- Storage Tank Monitoring
- Refinery Plant Monitoring
- Food & Beverages
- Manufacturing
- Product Quality Control
- Additive Manufacturing
- Plant Health Monitoring
- Other Verticals
Industrial X-ray Inspection System Market, by Geography
- North America
- U.S.
- Canada
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
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