Industrial Computed Tomography Market Size, Share, Growth Analysis, By Offering(Equipment, Line Beam Scanners), By Application(Flaw Detection & Inspection, Failure Analysis), By Vertical(Oil & Gas, Aerospace and Defense) - Industry Forecast 2024-2031

In 2022, Asia Pacific emerged as the dominant region in the industrial CT market, holding a revenue share of 33.6%. It is projected to experience the fastest CAGR of 8.2% throughout the forecast period. The region boasts prominent market players like Nikon Corporation, OMRON Corporation, and Shimadzu Corporation, and benefits from high manufacturing activities in countries such as China, Japan, and India. The significant share in global Manufacturing Value Added (MVA) held by Asia & Oceania, as reported by United Nations Industrial Development Organization (UNIDO), further drives market growth in the region.

Meanwhile, North America is expected to exhibit substantial growth, with a CAGR of 7.6% during the forecast period. The region benefits from its well-developed technology infrastructure and the presence of key industrial CT market players like Baker Hughes Company and North Star Imaging Inc. (Illinois Tool Works Inc.). Increased investments by industry players in the adoption of new and advanced technologies are contributing to the growth of the North American market. Additionally, the presence of various industrial CT inspection services providers, such as Jesse Garant Metrology Center in Canada and Exact Metrology in the U.S., further support the regional market's expansion.