Industrial Computed Tomography Equipment Market, 34% of Growth to Originate from APAC, Technavio

NEW YORK, May 6, 2024 /PRNewswire/ -- The global industrial computed tomography equipment market size is estimated to grow by USD 131.34 million from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 8.15% during the forecast period.

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Region Outlook

1. APAC
2. North America
3. Europe
4. South America
5. Middle East & Africa

1. APAC - By 2027, APAC is expected to account for 34% of the market share. Analysts at Technavio have detailed the regional trends and factors driving market growth. The automotive sector is the primary user of this equipment, benefitting from the region's abundant low-cost labor in countries like China, India, Vietnam, South Korea, and Malaysia. Major players like Carl Zeiss, Illinois Tool Works, Nikon, and Shimadzu operate in the region.

• Significant investments are being made in the automotive value chain, particularly in China, South Korea, India, Vietnam, and Thailand. In December 2018, the Indian government outlined its goals for the Automotive Mission Plan 2016-2026, aiming to attract more global investments in the automotive sector. This initiative is expected to boost automobile production and sales in the region, consequently driving demand for scanning and inspection applications.

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Segmentation Overview

1. Application 
• 1.1 Flaw detection and inspection
• 1.2 Assembly analysis
• 1.3 Failure analysis
• 1.4 Others
2. End-user 
• 2.1 Automotive
• 2.2 Aerospace
• 2.3 Electronics
• 2.4 Oil and gas
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Flaw detection and inspection:

The flaw detection and inspection segment is set to experience significant growth in market share during the forecast period. CT equipment finds extensive usage across industries for examining product designs and inspecting final products post-production. This segment's growth is driven by the imperative need to ensure defect-free products, maximizing their safety and performance. From 2017 to 2021, the segment witnessed steady growth, starting at USD 74.47 million.

• It's anticipated to replace four popular inspection methods: magnetic part inspection, eddy current testing, ultrasonic testing, and optical NDT. Key products like XT H 320 from Nikon Corporation cater to X-ray and CT inspection of large samples, further fueling market expansion. These broad applications are expected to propel global market growth in flaw detection and inspection during the forecast period.

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Research Analysis

The Industrial Computed Tomography (CT) Equipment Market plays a significant role in various sectors, including Aerospace and Defense, Automotive, Electronics, and the Industrial X-ray segment for Non-destructive testing. CT scanning technology is essential for flaw detection and quality assurance in the manufacturing and Maintenance, Repair, and Overhaul (MRO) processes of aircraft parts and other materials. The Equipment and Services sectors benefit from the advanced capabilities of CT scanners for defects and faults detection, enhancing quality control and overall safety.

Market Overview

The Industrial Computed Tomography (CT) Equipment market encompasses advanced technologies such as Artificial Intelligence (AI) and deep learning techniques. These technologies are integrated into CT systems, enabling them to analyze complex data and provide actionable insights. The market is driven by the increasing demand for non-destructive testing in various industries, including automotive, aerospace, and electronics. The adoption of CT technology is also fueled by its ability to provide high-resolution images, enabling precise diagnosis and quality control.

Furthermore, the market is expected to grow due to the rising trend of Industry 4.0 and smart manufacturing, which require advanced imaging technologies for process optimization and predictive maintenance.  These companies invest heavily in research and development to offer innovative solutions and maintain their market position. The market is also witnessing the emergence of new players, making it a dynamic and evolving landscape.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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