Industrial Computed Tomography Equipment Market to grow at a CAGR of 8.46% during 2024-2028
The Industrial Computed Tomography Equipment Market is expected to grow at a CAGR of 8.46% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 147.3 million. In the industrial sector, portable computed tomography (CT) equipment is experiencing increased adoption due to its convenience and flexibility, particularly in industries such as oil and gas. With assets dispersed across vast territories, portable CT solutions enable inspection activities to be carried out efficiently and effectively at various locations and positions. In the oil and gas industry, a single portable CT system can be utilized for multiple rigs and pipeline points. Furthermore, the automotive and aerospace industries can also reap significant benefits from the implementation of portable CT technology, streamlining their inspection processes and enhancing operational efficiency.
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Technavio analysts predict that the Flaw detection and inspection subsegment will lead the Application segment during 2024 and 2028 The Industrial Computed Tomography (CT) Equipment market showcases robust growth, driven by the increasing demand for non-destructive testing and quality assurance in various industries. CT technology's ability to produce high-resolution, cross-sectional images of complex structures offers significant advantages in sectors like aerospace, automotive, and pharmaceuticals. Market players focus on innovation, improving efficiency, and cost reduction to cater to this burgeoning demand.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish renewed demand from the oil and gas industry
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Industrial Computed Tomography (CT) equipment plays a crucial role in ensuring precision, quality control, and safety in various industries, including electronics, aerospace, automotive, services, equipment, and inspection sectors. CT scanners use advanced CT scanning technology to detect faults and defects in materials and components, enabling non-destructive testing and improving product quality. Precision and quality assurance are paramount in the electronics sector, where even the smallest flaw can lead to significant issues. CT scanners help in identifying defects in semiconductors, printed circuit boards, and other electronic components. In the aerospace and defense industry, CT scanning technology is used to inspect aircraft parts, ensuring safety and reliability. CT scanners are also essential in the automotive sector for detecting defects in engine components, chassis, and other critical parts. In the MRO (Maintenance, Repair, and Overhaul) processes, CT scanning technology is used to inspect and diagnose complex systems, reducing downtime and maintenance costs. Leading companies in the CT equipment market include Areva, Collins Aerospace Systems, and Cyient. These companies provide CT scanning solutions to various industries, helping them improve product quality, enhance safety, and optimize production processes. The use of CT scanning technology in additive manufacturing is also gaining popularity, enabling the detection of defects in 3D-printed parts and ensuring the production of high-quality components. Overall, the CT equipment market is expected to grow significantly in the coming years, driven by the increasing demand for non-destructive testing and flaw detection solutions in various industries.
The Industrial Computed Tomography Equipment Market is a segment of the expansive global electrical components and equipment market. This market encompasses businesses involved in the production of electrical components and equipment, including water heaters and accessories, motors, motor control, encoders and amplifiers, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. The market size is determined by the consolidated revenue generated from the sales of these products, as well as rental and leasing services to industrial, commercial, and residential consumers.
The Industrial Computed Tomography Equipment Market is experiencing significant growth, fueled by the renewed demand from the oil and gas industry. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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