Industrial X-ray Inspection Systems Market Worth $919.1 Million by 2027 -- Exclusive Report Covering Pre and Post COVID-19 Market Analysis by Meticulous Research®

LONDON, Dec. 3, 2020 /PRNewswire/ -- According to a new market research report titled, "Industrial X-ray Inspection Systems Market by Component, Dimensions, Imaging Technique (Film-Based Imaging, Digital Imaging), Vertical (Oil & Gas, Aerospace, Automotive, Electronics & Semiconductor) and Geography – Global Forecast to 2027," published by Meticulous Research®, the industrial X-ray inspection systems market is expected to grow at a CAGR of 8.8% from 2020 to 2027 to reach $919.1 million by 2027.

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Factors such as the increasing consumer awareness regarding quality standards, stringent government regulations regarding the safety of assets, and the rising security concerns in strategic infrastructure installations are driving the growth of the industrial X-ray inspection systems market. However, the availability of alternative technology and high equipment & maintenance cost is expected to obstruct this market's growth to some extent.

COVID-19 impact on the industrial X-ray inspection systems market

COVID-19 has had a wide-scale impact on small-scale and large-scale businesses. This pandemic is expected to drastically affect the industrial X-ray inspection systems market due to declining automotive production & sales of new vehicles, declined requirement of petroleum products and travel ban, disrupted supply chain, and reduction in new investments. Due to the COVID-19 pandemic, the market has observed a sudden dip in the overall sales revenue in the 2^nd and 3^rd quarters of 2020.

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The global travel ban has severely impacted the aerospace industry, with ~40% to 60% reduction in passenger traffic across major regions. Major end users are significantly facing reduced production levels, supply chain challenges, limited workforce, and inventory bottlenecks due to travel restrictions. The present imbalance and crisis circumstances have adversely affected the market of industrial X-ray inspection systems. Despite the significant setback, the market is expected to recover once the situation begins to normalize. Manufacturing activities will gradually enhance the adoption of industrial X-ray inspection systems but is unlikely to be enough to compensate for the previous loss.

Key findings in the industrial X-ray inspection systems market

Based on component, the hardware segment is poised to command the largest share of the overall industrial X-ray inspection systems market in 2020. Technological advancements, such as radiation sources, flat-panel detectors, and tubes, significantly increase the user-friendliness and efficiency of X-ray inspection systems, which, in turn, is expected to drive the growth of this segment in the coming years.

Based on imaging technique, the digital imaging segment is expected to account for the largest share of the overall industrial X-ray inspection systems market in 2020. This segment's large share is attributed to the vindication of chemical hazards of the X-ray processes, lesser radiation requirement, better image quality, faster processing time, quick image sharing, easy storage, and lower operation & maintenance costs.

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Based on vertical, the electronics & semiconductor segment is poised to command the largest share of the overall industrial X-ray inspection systems market in 2020. Also, this segment is projected to grow at the highest CAGR during the forecast period. Factors such as large-scale digitalization, automation, miniaturization of electronic devices, and increasing the demand for sophisticated plasma control and X-ray inspection solutions are driving the growth of this segment.

This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (France, Germany, Spain, Italy, U.K., and Rest of Europe), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America (Brazil Mexico, and RoLATAM), and the Middle East & Africa (Saudi Arabia, UAE, and Rest of MEA).

In 2020, North America is poised to command the largest share of the global industrial X-ray inspection systems market, followed by Asia-Pacific and Europe. The large share of this region is majorly attributed to the stringent government safety regulations for the automotive and aerospace sector and the rapid growth in power generation, oil & gas, and defense industries. The adoption of the updated version of the ISO 9712 standard by the Canadian General Standard Board to address issues, such as lack of skilled personnel and work efficiency, is also a contributing factor. The updated ISO 9712 standard will fast track the certification programs and allow inspectors to get certified in two years.

The key players operating in the industrial X-ray inspection systems market are North Star Imaging, Inc. (U.S.), Nikon Metrology NV (Belgium), Nordson DAGE (U.K.), YXLON International GmbH (Germany), VJ Group, Inc. (U.S.), 3DX-Ray Ltd (U.K.), VisiConsult X-ray Systems & Solutions GmbH (Germany), Smiths Detection, Inc. (U.S.), Mettler-Toledo International Inc. (U.S.), GE Measurement and Control (U.S.), OSI Systems (U.S.), Ishida Co. Ltd. (Japan), Comet Holding AG (Switzerland), Micro-Poise Measurement Systems LLC (U.S.), and Thermo Fisher Scientific (U.S.) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-x-ray-inspection-system-market-5148/

Scope of the Report:

Industrial X-ray Inspection Systems Market, by Component

• Hardware
• Software
• Support Services
• Consumables

Industrial X-ray Inspection Systems Market, by Imaging Technique

• Film-based Imaging
• Digital Imaging
• Direct Radiography
• Computed Tomography
• Computed Radiography

Industrial X-ray Inspection Systems Market, by Dimensions

• 2D X-ray Inspection Systems
• 3D X-ray Inspection Systems

Industrial X-ray Inspection Systems Market, by Vertical

• Oil & Gas
• Transmission Pipeline Monitoring
• Subsea Pipeline Monitoring
• Storage Tank Monitoring
• Refinery Plant Monitoring
• Aerospace
• Aircraft Maintenance
• Composite Material Analysis
• Automotive
• Electronics & Semiconducto
• PCB Inspection
• Automated Optical Inspection
• Wafer Inspection
• Solder Joint Inspection
• Others (Sensors, Electromechanical Packages, and Insulators)
• Public Infrastructure
• Railway Tracks
• Bridges & Tunnels
• Airport Security
• Power Generation
• Renewable Energy Plants
• Nuclear Power Plant
• Non-renewable Energy Plants
• Manufacturing
• Plant Health Monitoring
• Product Quality Control
• Additive Manufacturin
• Food & Beverage
• Other Verticals

Industrial X-ray Inspection Systems Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific (APAC)
• China
• Japan
• South Korea
• India
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of MEA

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