The X-ray
inspection system market is expected to be valued at USD 860.5 Million by
2023, at a CAGR of 6.51% between 2017 and 2023. Growing consumer awareness
raising the bar of safety and quality standards acts as a driver for the growth
of the market. Moreover, stringent government regulations due to security
concerns, and demand from both developed and developing economies also drive
the growth of this market.
This
report segments the market on the basis of technique, dimension, vertical, and
geography. Digital imaging held a larger share of the market based on technique
in 2016. The increased use of systems based on digital imaging technique for
detection of damages such as cracks, reduction in time of image processing, and
3D visualization ability contribute to a high growth of the market for this
segment.
3D
X-ray inspection system market is expected to grow at a higher CAGR during the
forecast period. The growth of this market can be attributed to the use of 3D
X-ray inspection systems in a wide range of industries, from semiconductors to
automotive manufacturing, and their vital role in quality control. These
systems also allow manufacturers to diagnose issues such as metal bridging,
foreign materials, and construction defects in 3D planes.
The
oil and gas vertical held the largest share of the X-ray inspection system
market in 2016. X-ray inspection systems are widely used in both the downstream
as well as upstream segments of the oil and gas wells. X-ray inspection systems
are highly efficient in delivering solutions for the pressure vessels, pipes,
boilers, and valves inspections, which, in turn, is driving the growth of this
market.
The
X-ray inspection system market in Asia Pacific (APAC) is expected to grow at
the highest CAGR during the forecast period. This growth can be attributed to
the continuous demand for cost-effective and fast-processing X-ray inspection
systems from the oil and gas, and power generation verticals.
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The
key players in the X-ray inspection system market include North Star Imaging,
Inc. (US), Nikon Metrology NV (Belgium), Nordson DAGE (UK), YXLON International
GmbH (Germany), VJ Group, Inc. (US), 3DX-RAY Ltd. (UK), VisiConsult X-ray
Systems & Solutions GmbH (Germany), Smiths Detection, Inc. (UK),
Mettler-Toledo International Inc. (Switzerland), and General Electric Co. (US).
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