The increasing demand of the industrial digital x-ray due to growing dominance towards portable x-ray systems is set be the driving factor for the market during the forecast period 2020-2025. The market for LATAM Industrial Digital X-Ray is forecast to reach $ 139.22 million by 2025, growing at a CAGR of 6.64% from 2020 to 2025.
LATAM Industrial Digital X-ray market is analyzed to witness notable growth during the forecast period 2020-2025, owing to the growing damages caused in the plant machinery and equipments due to high wear and tear. The increasing demand from various growing sectors like automotives, food and beverage, power generation and others is set to boost the industrial digital x-ray market.
As the plant machinery undergoes regular workloads pressure, there are high chances of damages and faults, which can affect the industrial growth. This marks a high requirement towards efficient inspection to improve the safety standards within hazardous environments. Growing adoption for portable systems is expected to boost the market growth of industrial digital x-ray during the forecast period 2020-2025. Since portable x-ray systems climates the need for plugins as well as a larger space area, it has been gaining much popularity in the market. Portable systems help in improving the workflow efficiency across an organization by providing faster and higher quality fault detection results, thus raising the portability and flexibility standards. Moreover, the systems being highly economical makes it highly demand by manufactures in food and beverage industry, automotives, medical and many others have been causing a positive impact on the market growth of industrial digital x-ray equipments.
Brazil holds the highest market share in the industrial digital x-ray market which is mainly attributed to the high presence of major industries such as automotives, chemicals, iron and steel among others in the country. As production statistics from OICA, Brazil accounted for higher market growth for commercial vehicles production during 2019 compared to previous year. Moreover, government regulations regarding installing of inspection systems to avoid industrial hazard conditions have been also driving the market growth in Brazil. Higher investments towards research and development towards improving the inspection standards are also affecting the market growth of industrial digital x-ray.
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LATAM Industrial Digital X-ray Market Growth Drivers:
- Higher inspection efficiency
Major industries such as oil and gas, power generation, automotives and many others have been constantly raising the market demands towards efficient industrial inspection systems. Since these industries offer a hazardous environment, regular monitoring of the machinery and equipments used during manufacturing products becomes highly essential. Deployment of industrial digital x-ray systems helps the manufacturers to reduce the risks and threats caused during plant operations. Industrial digital x-ray systems are highly efficient and helps in faster detection of damages or faults related to machinery. Usage of industrial digital x-ray has been rising rapidly due to its capabilities of identifying and providing high quality scanning of valves, turbine blades, vessel nozzles and many others, reducing the risks of machine failure related accidents, fires and others. Such factors play a vital role in improving the work efficiency across various industries, thus acting as a major driver for its market growth.
- Rising demand of portable systems
Rising growth of portable systems has been acting as a major driver towards significant growth of industrial digital x ray market. Portable x-ray systems have been getting highly deployed majorly in automotive, food and beverage and many others due to its capability of enhancing the inspection process across an organization. Since portable systems are not fixed within one place, they can be shifted anywhere depending on the user requirement, which improves flexibility and reliability. Moreover, industries have been majorly deploying portable systems to reduce the workload pressures of its workers along with no requirement for electric plugins at times. At times of sudden failures in the industry, these systems can be shifted easily to inspect the defects or damages concerning the equipment or machinery used during plant operations, thus boosting its market demand.
- In 2019, Nano-X Imaging Limited had introduced the first commercial digital x-ray based on silicon MEMS technology to cause a significant reduction in the field of medical imaging systems.
- In 2019, Fujifilm Medical Systems USA, Inc. has announced three digital X-ray suites named FDA Clinica U, FDR Clinica X and D-EVO Suite FSx as an expansion to its comprehensive imaging technologies portfolio.
The Major Players in this Market Include
The major companies in the Industrial Digital X-ray market include Baker Hughes, OR Technology, Carestream, North Star Imaging, Durr NDT GmbH, Teledyne DALSA, Sanying Precision Instruments and Fujifilm among others.
With the significant need for improving quality standards of machines inspection across various industry verticals is set to boost the demand for the industrial digital x-ray market. Rising investments towards developments along with shift towards digitalization from major industry verticals is expected to propel the demands in the industrial digital x-ray market.
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