New York, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The projected value of the global failure analysis equipment market is anticipated to reach US$ 7.3 billion by 2023, with a compound annual growth rate (CAGR) of 7.4% from 2023 to 2033. The market is expected to surge to US$ 15 billion by the year 2033.
The application of failure analysis techniques holds significant importance across various industries, particularly in the development of new products and the enhancement of operational efficiency in existing equipment and machinery.
In the oil & gas sector, the utilization of such equipment is crucial for optimizing current assets and machinery, preventing service failures, and ensuring safety incidents are minimized. The global failure analysis equipment market is poised for growth, driven by factors such as the evolution of microelectronics, the complexity of sophisticated electronic systems, and advancements in failure analysis technology.
The increasing compactness and integration of new microelectronic components are expected to boost the demand for failure analysis equipment in the foreseeable future. The market is set to benefit from technological advancements like artificial intelligence, big data, and cloud computing.
A surge in demand for automated failure analysis systems is anticipated, and as electronic components become more reliable and durable, the need for failure analysis equipment will persist. However, challenges such as the high cost of failure analysis equipment and a shortage of skilled personnel are likely to impede market growth.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 7.3 billion | |
| Estimated Revenue 2033 | US$ 15 billion | |
| Growth Rate - CAGR | 7.4% | |
| Forecast Period | 2023 to 2033 | |
| No. of Pages | 308 Pages | |
| Market Segmentation |
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| Regions Covered |
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| Key Companies Profiled |
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Market Dynamics of Failure Analysis:
Driving Force: Implementation of safety regulations by governments and international organizations
The utilization of Failure Analysis techniques is integral for identifying defects in both existing and cutting-edge equipment/devices across diverse industries. The heightened demand for failure analysis equipment is spurred by strict product usage specifications, government safety regulations, and stringent quality control standards. Various countries have regulatory bodies overseeing the development and publication of technical industrial standards. As an illustration, the American Society for Non-destructive Testing (ASNT) is a non-profit professional society that provides NDT-related reference material, certification documents for NDT training, and hosts technical conferences.
Instances of infrastructure failures in the past, such as leaks in nuclear refineries, pipeline explosions, and refinery blasts, have compelled governments to enact rigorous safety regulations, resulting in an increased need for failure analysis equipment. Regulatory approval is a pivotal factor in the market launch of new devices or instruments. According to the Code of Federal Regulation 21 (CFR 21) LIS FDA, microscopes are classified as Class I medical devices. Devices not labelled or represented as sterile are exempt from Current Good Manufacturing Practice (cGMP) regulations and premarket notification procedures, allowing for a swift market launch.
Challenge: Elevated Ownership and Maintenance Expenses
There is a noticeable shift in the usage trends of microscopes, with traditional microscopes gradually giving way to high-end alternatives like electron microscopes, scanning probe microscopes, and digital microscopes, owing to their advanced features, superior resolution, and magnification capabilities. However, the significant drawback lies in their cost, ranging from USD 25,000 to USD 2 million, posing a substantial barrier to their adoption in settings such as hospitals, pathological laboratories, and small-scale industries.
Moreover, the ongoing expenses associated with microscope maintenance contribute to the overall ownership costs. For example, the maintenance cost for a transmission electron microscope falls within the range of USD 15,000 to USD 100,000 per year. The steep expenses have resulted in users heavily relying on government and private research funding, thereby limiting market growth to a certain extent.
Opportunity: Fusion of Microscopy and Spectroscopy
The merging of microscopy with spectroscopy is poised to create significant opportunities for research communities, presenting a diverse range of applications. For example, the amalgamation of Raman spectroscopy with either atomic force microscopy or optical microscopy yields intricate insights into nanoscale properties and composition. The synergies of these combined techniques extend to precise sample alignment, efficient optical signal transfer from the microscope to the spectrometer, and accurate focusing of excitation light at the detection point.
The immense potential of integrating microscopy technologies has given rise to innovations such as the DXR2 Raman Imaging Microscope introduced by Thermo Fisher Scientific. This instrument features an optical microscope seamlessly integrated with a Raman spectrometer, enabling the acquisition of both traditional optical and petrochemical images.
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Failure Analysis Market Trends in the Automotive Sector:
The demand for cost-effective, high-quality components in the automotive industry has continually risen, presenting ongoing challenges. Ensuring the design and manufacture of such components meet quality standards to withstand diverse service environments is crucial. Defective products within the automotive sector can lead to safety concerns, product recalls, financial losses, and damage to brand reputation. Visual defect detection enables manufacturers to identify and classify defects like scratches, dents, or cracks in vehicle parts with high accuracy, preventing the entry of faulty components into production lines. This enhances overall quality, safety, and legal compliance.
The automotive industry has experienced significant advancements in technologies such as Advanced Driver Assistance Systems (ADAS), connected vehicles, Internet of Things (IoT) devices, and smart sensors. These technologies contribute to preventing potential accidents resulting from malfunctions in vital vehicle components. A report by the World Health Organization (WHO) in June 2022 highlighted that approximately 1.3 million lives are lost annually due to road traffic crashes, with 20 to 50 million people suffering non-fatal injuries.
Possible causes of automotive device failures include product design, manufacturing processes, material source contamination, product packaging, improper handling, and incorrect calibration. These factors raise concerns about the quality of manufacturing automotive parts and the need for preventive measures to avoid incidents.
The Asia-Pacific region has witnessed substantial growth in the automotive industry, driven by the rising demand for passenger and advanced vehicles. The high population density in the region contributes to increased usage of passenger vehicles, leading to the growth of the market. In 2022, China's automotive industry produced approximately 23.8 million passenger cars, according to the International Organization of Motor Vehicle Manufacturers (OICA).
Identifying the failure modes of automobile components is crucial, as different failure modes can result in severe accidents. Failure analysis plays a vital role in determining the cause of an accident, helping identify which component in the automobile contributed to the incident.
Segmental Analysis:
The Focused Ion Beam (FIB) Systems Segment Expected to Exhibit the Highest CAGR
The FIB systems segment is experiencing widespread applications in material science and bioscience. Manufacturers are actively engaged in developing commercially oriented FIBs to address error correction challenges in material sciences. The extensive use of FIB in tasks such as in-circuit editing and sample preparation for transmission electron microscopy (TEM), along with its applications in microstructural analysis and Nano-machining prototyping, contributes significantly to the growth of this segment.
Electronics and Semiconductor Application Segment Commands the Largest Market Share
The electronics and semiconductor application segment is poised to dominate the failure analysis market, holding the largest share. This is attributed to the growing demand for miniature transistor chips, Nano electronics, and optoelectronics in various industries. The electronics and semiconductor sector is emerging as a key player, driven by the increasing adoption of robotics and automation in electronics device manufacturing. This surge has created a need for high-density, integrated, and miniaturized devices for the production of smart devices, wearables, and intelligent industrial equipment.
Regional Analysis:
During the forecast period, the Asia Pacific region is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR). The substantial mass production of electronic goods like smartphones, tablets, sensors, industrial equipment, wearables, and white goods in China and Taiwan is poised to drive the growth of the failure analysis market in the region.
Japan holds the dominant position as the largest market for microscopy equipment in the Asia Pacific. Key industry players, including Nikon, JEOL Ltd., Olympus, and Hitachi High-Technologies, are headquartered in Japan, boasting a robust customer base that includes major research institutes and pharmaceutical & biotechnology companies.
In China, the manufacturing sector is actively adopting industrial robots for the automation and modernization of various manufacturing processes. This shift has generated a need for monitoring device failures, presenting new growth opportunities for the failure analysis market in the country.
Future Outlook of the Global Failure Analysis Equipment Market: Innovations, Growth, and Regional Dynamics
The future of the global failure analysis equipment market holds promise with a trajectory marked by continuous innovation, sustained growth, and evolving regional dynamics. Anticipate ongoing technological advancements, particularly in focused ion beam (FIB) systems, broad ion milling (BIM), and chemical mechanical planarization (CMP), enhancing accuracy and efficiency in failure analysis processes. The electronics sector is expected to remain a pivotal driver, driven by the increasing integration of electronic components across industries, emphasizing safety compliance and component miniaturization.
North America, led by the United States, is projected to maintain dominance, while the Asia Pacific region, spearheaded by China, is poised for robust growth due to expanding semiconductor and polymer industries. Beyond traditional sectors, industries like biomedical, life science, and fibre optics are expected to contribute to market expansion.
Challenges, including the high cost of equipment and a shortage of skilled professionals, present opportunities for innovation and investment in skill development to overcome barriers to growth. In summary, the global failure analysis equipment market is set for a dynamic future characterized by technological excellence, diverse industry applications, and shifts in regional market dynamics. Stakeholders can leverage these insights to navigate the evolving landscape and capitalize on emerging opportunities.
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