Industrial X-Ray Global Market Poised for Significant Growth, Projected to Reach $3.99 Billion at a CAGR of 7.5% By 2028

Overview and Scope
The industrial X-ray market consists of revenues earned by entities by providing services such as computed tomography scanners, X-ray inspection and testing services, calibration and maintenance of X-ray equipment, rental and leasing of X-ray equipment, and imaging plates and films. The market value includes the value of related goods sold by the service provider or included within the service offering. The industrial X-ray market also includes sales of industrial X-ray machines, digital radiography systems, and portable X-ray devices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast
The industrial X-ray market size has grown strongly in recent years. It will grow from $2.79 billion in 2023 to $2.99 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%.  The growth in the historic period can be attributed to the adoption of X-ray technologies in the food and beverages sector, increasing demand for X-ray products, demand for point-of-care imaging, increase in the demand for early-stage diagnosis of chronic diseases, increasing use of X-ray systems in new applications.

The industrial X-ray market size is expected to see strong growth in the next few years. It will grow to $3.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.  The growth in the forecast period can be attributed to growing demand for advanced medical imaging systems, rising awareness about the benefits of digital X-ray imaging, growing focus towards improving the patient-centric healthcare systems, growing expenditure on healthcare infrastructure, and growing adoption of digital radiography technology. Major trends in the forecast period include technological advancements, expansion of X-ray systems, product innovation, strategic partnership and collaboration with peer companies, and integration of X-ray systems with robotics and automation.

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Segmentation & Regional Insights
The industrial X-ray market covered in this report is segmented –
1) By Product Type: X-Ray Instruments, X-Ray Consumables, X-Ray Services
2) By Imaging Technique: Digital Radiography, Film-Based Radiography
3) By Range: Micro Focus X-Ray, High Energy X-Ray, Other Ranges
4) By Application: Aerospace Industries, Defense And Military, Power Generation Industry, Automotive Industry, Manufacturing Industry, Food And Beverages Industry, Other Applications
5) By Distribution Channel: Direct Channel, Indirect Channel

North America was the largest region in the industrial X-ray market in 2023. The regions covered in the industrial X-ray market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing food and beverage sector is expected to propel the growth of the industrial X-ray market going forward. The food and beverage industry encompass the production, processing, distribution, and sale of edible goods and non-alcoholic drinks. The expansion of the food and beverage industry is driven by factors such as changing consumer preferences, population growth, globalization, and technological advancements. Industrial X-rays in the food and beverage sector are used for quality control, detecting foreign objects, and ensuring product safety without damaging the items. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australian government statistical agency, in the 2020–21 period, supermarkets, grocery stores, convenience stores, specialty food stores, and fresh food markets in Australia collectively sold 14.7 million metric tons of food and non-alcoholic beverages. This marked a 1.4% increase (equivalent to 204,100 metric tons) compared to the preceding 12 months (2019–20). Therefore, the increasing food and beverage sector is driving the growth of the industrial X-ray market.

Key Industry Players
Major companies operating in the industrial X-ray market are Hitachi Ltd., Siemens AG, General Electric Company, Fujifilm Holdings Corporation, Rolls-Royce Holdings plc, BAE Systems, Mettler-Toledo International Inc., Varian Medical Systems Inc., PerkinElmer Inc., Bruker Corporation, Agfa-Gevaert Group, ZEISS Group, Carestream Health, Varex Imaging, Comet Group, Rigaku Corporation, CANON MEDICAL SYSTEMS CORPORATION, Gulmay, Metrix NDT, Krystalvision Image Systems Pvt. Ltd., Vision Medicaid Equipment Private Limited, X-Innovations Technologies Ltd, Lucky Healthcare Co. Ltd., PROTEC GmbH & Co. KG

The industrial x-ray market report table of contents includes:
1. Executive Summary
2. Industrial X-Ray Market Report Structure
3. Industrial X-Ray Market Trends And Strategies
4. Industrial X-Ray Market – Macro Economic Scenario
5. Industrial X-Ray Market Size And Growth
…..
27. Industrial X-Ray Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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