Technavio's Industrial Computed Tomography (CT) Equipment Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

Baker Hughes Co., Bruker Corp., Carl Zeiss AG, General Electric Co., Illinois Tool Works Inc., Nikon Corp., OMRON Corp., ProCon X-Ray GmbH, Shimadzu Corp., YXLON International GmbH among others are some of the few key vendors competing to maintain their market position in the market.

Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the industrial computed tomography (CT) equipment industry. For instance, In November 2020, Baker Hughes Co. signed a contract to acquire Compact Carbon Capture (3C). In December 2020, the company announced the formation of a joint venture with Aramco. Product launches In December 2020, the company's subsidiary Waygate Technologies launched Industry's Fastest High Energy CT Scanner for Large Industrial Components.

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

• Segmentation by End-User: 
• Automotive: 
• The automotive segment's share of the industrial computed tomography equipment market will expand significantly during the projected period.  The necessity for foolproof quality control across production processes is driving this trend. During the forecast period, the structural integrity of automobiles that can be obtained with the use of current and upcoming industrial computed tomography equipment scanning in the automotive sector is predicted to drive the segment's growth. Though there are traditional ways for inspecting automobile body parts, such as destructive testing, the automotive industry is seeing an increasing need for non-destructive 3D inspection technologies.
• Aerospace
• Electronics
• Oil and Gas
• Others

Request a FREE Sample of this report for more highlights into the market segments.

Regional Market Outlook
APAC will contribute to 40% of the market growth during the forecast period. The growth of this region can be attributed to the substantial investments in the automotive value chain, especially for manufacturing and R&D facilities.

The region is home to several car manufacturing plants. This is due to the availability of low-cost labor in APAC countries such as China, India, Vietnam, South Korea, and Malaysia, as opposed to countries in other areas such as the United States, the United Kingdom, and Germany. Furthermore, the need for new oil and gas projects in APAC is being driven by the need for energy security. In countries like China, India, Pakistan, and Australia, significant investments are being made in the oil and gas business, notably in natural gas projects.

Apart from regions, if we look at the country-wise market growth, the US, China, Germany, France, and Japan will contribute to the highest market growth.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Industrial Computed Tomography Equipment Market

• Market Driver:
• Renewed demand from the oil and gas industry:

The technological advantages of employing industrial computed tomography equipment are a major element driving the growth of the industrial CT equipment market. 3D CT reconstruction models can be easily compared to CAD models and other CT models to see how measurements, densities, and voids differ or are comparable.

Modern industrial computed tomography scanners have made numerous advancements. As a result, it becomes a more realistic option for inspection purposes. These advantages are contributing to an increase in the use of industrial computed tomography equipment in the aerospace industry, where complex parts must work with extreme precision and reliability at high temperatures.

• Market Trend:
• Rising demand for portable radiography equipment:

End-users are increasingly turning to portable radiography equipment, particularly in industries like oil and gas, where assets are spread across multiple locations. The use of portable industrial computed tomography equipment allows for inspection activities to be carried out in a variety of places and postures. Similarly, portable CT equipment can be used to inspect pipes at various places along the pipeline.

The deployment of portable radiography equipment can also benefit the automotive and aerospace industries. Small and portable equipment should be used to test minute components. As a result, the use of tiny and portable radiography equipment will help to reduce testing costs by allowing products to be tested at the vendor's location, avoiding the need for costly installation expenses.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

Need More? Are You Looking for Information Not Covered in This Report?

• Want to understand more about the various research methodology?
• Evaluate a specific segment or region in detail
• Identify key suppliers, customers, or other market players
• Analyze market regulations

Tailor this report according to your needs. Get it done with our $1000 worth of free customization. Speak to Our Analyst Now!

Related Reports:

Sensors Market for Smartphones Market by Price and Geography - Forecast and Analysis 2021-2025

Smart Led Indoor Signage Market by Application and Geography - Forecast and Analysis 2022-2026

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

Contact:
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