Global Industrial X-Ray Inspection Systems Industry

Global Industrial X-Ray Inspection Systems Industry

  • April 2021 •
  • 430 pages •
  • Report ID: 681907 •
  • Format: PDF
Abstract:
- Battered Business Confidence Forces a -15% Decline in 2020. Global Market to Reach US$753.5Million by 2027
- The global market for Industrial X-Ray Inspection Systems is projected to reach a revised market size of US$753.5million by the year 2027 after posting a -15% decline in growth in the year 2020. Business confidence in countries like the United States has been declining since the outbreak of COVID-19. With U.S heading for a larger second wave of infections, business confidence remains subdued. With W.H.O declaring the worst of the pandemic as "yet to come" even as death toll surges past 500,000, businesses remain impacted. Fears over a deep recession in Asia has resulted in foreign investors pulling out over US$28 billion from Asian countries and over US$15 billion from India alone as the world’s most populous country moves up the steep fearful curve to peak infections. Profitability challenges, liquidity crunch, financial disruption and low investor confidence will drive double digit declines in demand for Industrial X-Ray Inspection Systems.
- In the post COVID-19 period, growth will be driven by the rise of non-destructive testing as a key factor in building manufacturing and production competencies in a global manufacturing industry increasingly characterized by high focus shed on safety and quality standards. For instance, in the electronics and medical device manufacturing sectors, defect tolerance is becoming more important as form factors continue to shrink. Supported by developments in robotics and digital technology, the launch of automated industrial x-ray testing systems will generate new opportunities for upgrades and replacements. Benefits such as speed, efficiency and cost will additionally help spur adoption of automated X-ray inspection systems. Stringent safety norms and quality standards are playing a key role in fueling growth in the food & beverage and pharmaceutical end-use sectors where industrial x-ray systems are used for manufacturing process verification and validation. Poised to benefit growth in the diamond mining sector will be the growing use of X-rays to detect rocks containing diamonds as an alternative to traditional mining techniques that risk the fragmentation of diamonds. China and Rest of Asia-Pacific will emerge to be major markets led by factors such as growing government focus on improving the quality of manufactured products especially in export oriented economies and the ensuing adoption of quality control techniques with digital assistance systems, and steady growth of the automotive, aerospace, and electronics sectors.

- Select Competitors (Total 74 Featured) -
  • 3DX-RAY Ltd.
  • Anritsu Infivis Ltd.
  • Baker Hughes Company
  • Bosello High Technology srl
  • Mettler-Toledo International Inc.
  • Minebea Intec
  • Nikon Metrology NV
  • Nordson DAGE
  • North Star Imaging, Inc.
  • Shimadzu Corporation
  • Thermo Fisher Scientific, Inc.
  • Toshiba IT & Control Systems Corporation
  • Vision Medicaid Equipments Pvt. Ltd.
  • VJ Group, Inc.
  • YXLON International GmbH