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Industrial Computed Tomography Market to Grow at a CAGR of 6.37% During the Forecast Period 2020-2025

Industrial Computed

iCrowdNewswire   Jul 23, 2020  11:00 AM ET

Industrial Computed Tomography Market size was valued at $290 million in 2019, and it is estimated to grow at a CAGR of 6.37% during 2020-2025. The growth is mainly attributed to increasing investments in industries for precise measurement equipment, 3D scanners and computed tomography (CT) techniques. High adoption of CT method over industrial radiography techniques will further boost the Industrial Computed Tomography market during the forecast period.

Scan – Segment Analysis

Cone beam scan held the major market share of 51.36% in 2019. Cone beam scanning is the advanced method and it is highly adopted in major number of industries owing to its converting nature of 2D images to 3D volume rendering of the internal and external geometries of the inspection part. These scanning is highly used in healthcare applications and therefore increases the use of this equipment, thereby driving the market.

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End User – Segment Analysis

Automotive is the fastest growing segment in Industrial Computed Tomography market and estimated to grow at a CAGR of 7.10%. In automotive industry, CT is used for analyzing the quality and function of specific vehicle parts, especially in the non-destructive analysis of vehicle parts. According to International Organization of Motor Vehicle Manufacturers (OICA), there has been increasing production of passenger cars and commercial vehicles vehicles in countries such as Austria, Hungary, Malaysia, Uzbekistan and others. In 2018, BMW group was the first automotive company which used computed tomography method to improve methods of prototype development, production and analysis.

Geography- Segment Analysis

APAC dominated the Industrial Computed Tomography market in 2019 with a market share of 33.60%, followed by North America and Europe. As China is the manufacturing hub for automotive and various industries, there has been high adoption of computed tomography techniques in automotive, aerospace and other industries which is poised to drive the market. Additionally, increasing research and development activities in other APAC countries such as Japan, South Korea and India further boost the market.

Drivers –Industrial Computed Tomography Market

Increasing usage of radiography in additive manufacturing

Increasing incorporation of 3D printing techniques in their manufacturing process of various industries is fueling the CT market as the technology is moved from prototyping stage to the production stage. This has led to the significant increase in usage of additive manufacturing for production of various things from 3D modeling. Subsequently, the need for radiography testing technique such as CT in order to analyze internal geometries of the 3D printed objects has also been increased. The growing trend for usage of computed tomography in additive manufacturing activities coupled with 3D printing is set to drive the market.

Increasing usage of computed tomographic techniques in aerospace industry set to drive the market

Aircraft original equipment manufacturers (OEMs) are focusing on CT methods for inspection of large components such as piston engines, turbines and other equipment in a single run in order to save money and time. Increasing demand for high precision and reliability requirements for analyzing complex parts under high temperatures have been pushing the Computed tomography industry in aerospace sector. Additionally, CT can also be used to inspect smaller and medium sized components such as aluminum castings, tube welds, turbine blades and others. High adoption of CT techniques in aerospace sector is driving the industrial CT market.

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Challenges – Industrial Computed Tomography Market

Technical problems and inaccurate results

One of the major challenge with industrial computed tomography is the possibility of artifacts in the data. Some of the machines also make noise interruptions which corrupts the information or data of the inspection part. Sometimes, this provides inaccurate results which restricts the adoption of computed tomography methods in industries.

Market Landscape

Product Launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Computed Tomography market. Industrial Computed Tomography top 10 companies include Bruker, General Electric, Nikon Corporation, OMRON Corporation, ZEISS International, Siemens AG, Carl Zeiss, Baker Hughes, Shimadzu Corp and others.

Acquisitions/Technology Launches

In July 2019, Zeiss had introduced Zeiss crossbeam 350 which is an enhanced workflow for 3D tomography to ensure 3D data volume generation. Introduction of new methods with advanced features is poised to increase the industrial computed tomography market share.

In January 2019, Omron Corporation introduced the VT-M121 2D dimension and visual inspection machine which performs dimension and visual inspection simultaneously to detect scratches and cracks on products. This is majorly used for achieving zero defect in automotive electronics. This is set to drive the market.

Key Takeaways

APAC dominated the Industrial Computed Tomography market in 2019 owing to rapid industrialization and high investments in adoption of industrial computed tomography.

Increasing adoption of cone beam scanning method for accurate 3D images with increasing healthcare applications set to drive the industrial computed tomography industry.

High adoption of industrial CT for flaw detection, assembly analysis, metrology, failure analysis, and reverse engineering applications have pushing the market.

Technique failures such as noise interruption and high cost hampers the growth of the market.

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