Trends, opportunities and forecast in this market to 2022 by product type (static and handheld), technology (VLF, multi frequency, pulse induction, and others), end use industry (industrial, security, consumer, and countermine), and region (North America, Europe, Asia Pacific, and the Rest of the World)
According to a new market report published by Lucintel, the future of the metal detector market looks attractive with opportunities in the government, commercial, consumer, food & beverage, pharmaceutical, and textile industries. The global metal detector market is expected to reach an estimated $1.6 billion by 2022 and is forecast to grow at a CAGR of 5.1% from 2017 to 2022.
The major growth drivers for this market are rapidly increasing terrorism activities, expansion in infrastructure, and increasing stringency in government compliances in various sectors to maintain high level of security and safety.
This report has 90 figures/charts and 70 tables spread through 160 pages.
For more detail on this report please click link www.lucintel.com/metal-detector-ma…-2017-2022.aspx
In this market, static and handheld metal detectors are used to ensure the safety and security of people, assets, and critical infrastructure. Lucintel forecasts that static metal detector is expected to remain the largest segment due to increasing usage of metal detectors in the food and pharmaceutical industries, transit, educational buildings, and hospitals.
Handheld metal detector is expected to witness the highest growth in the forecast period supported by the increasing demand for security in government and commercial sectors along with increasing consumer demand due to growing archeological activities and hobbies.
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Within the metal detector market, the industrial segment is expected to remain the largest end use industry due to stringent government regulations for consumer protection in food processing, pharmaceutical, and chemical industries. Lucintel predicts that the demand for metal detectors in security will witness the highest growth during the forecast period.
This growth will be supported by government spending on security for ports, borders, and critical infrastructure to ensure safety from terrorism and crime. Another factor that adds to the growth of the security segment is increasing passenger traffic in airport.
Asia Pacific is expected to remain the largest market and will experience the highest growth over the forecast period supported by expansion of infrastructure. Factors influencing this are growth in the global economy, rise in the standard of living, and increasing tourism.
The awareness regarding metal contamination in the food, pharmaceutical, and chemical industries also creates tremendous opportunities for metal detectors in China, Australia, India, and other countries.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing trend towards advancement in metal detector technology for superior performance and growing use of metal detectors in new applications such as sports and medical applications. Mettler Toledo (Safeline), Codan (Minelab), CEIA (Costruzioni Elettroniche Industriali Automatismi S.p.A.), Garrett Metal Detectors, and Eriez Manufacturing Co.
are among the major suppliers of metal detectors.
Download free sample here www.lucintel.com/ds/metal-detector…-2017-2022.aspx
The study includes a forecast for the global metal detector market by product type, technology, end use industry, and region as follows:
By Product Type [$M shipment analysis for 2011 – 2022]:
- Handheld Metal Detectors
- Static Metal Detectors
By Technology [$M shipment analysis for 2011 – 2022]:
- Very Low Frequency (VLF)
- Multi Frequency (MF)
- Pulse Induction (PI)
By End Use Industry [Volume (Kilotons) and $M shipment analysis for 2011 – 2022]:
- − Food and Beverage
- − Other Industrial
- − Transit
- − Government
- − Commercial
By Region [$M shipment analysis for 2011 – 2022]:
- North America
- Asia Pacific
- Rest of the World
Category: Market Research Publishers and RetailersCompany about: Lucintel, the premier global market research and management consulting firm creates your equation for growth - whether you need to understand market dynamics, identify new opportunities or increase your profitability. Lucintel team of trusted industry experts for materials and manufacturing industries have executed over hundreds of consulting projects for clients, ranging from small, emerging organizations up to multinational companies such as 3M, Audi, BASF, Cytec, DSM, Eastman, GE, H ...
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