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.
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.
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.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global metal detector market by end use segment, by product type, by technology,
and region. Lucintel has prepared a comprehensive research report entitled “Growth
Opportunities in the Global Metal Detector Market 2017-2022: Trends, Forecast,
and Opportunity Analysis.” This Lucintel report serves as a
catalyst for growth strategy as it provides a comprehensive data and analysis
on trends, key drivers, and directions. 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)
- Others
By End Use Industry
[Volume (Kilotons) and $M shipment analysis for 2011 – 2022]:
- Industrial
−
Food and Beverage
−
Other Industrial
- Security
−
Transit
−
Government
−
Commercial
- Consumer
- Countermine
By Region [$M shipment analysis for 2011 –
2022]:
·
North America
·
Europe
·
Asia Pacific
·
Rest of the World
This
160-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings
include energy
market report, energy
industry, commercial
due diligence report, business strategy
consulting and market research
reports online.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising
potential, high-growth opportunities for the global metal detector market 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)?
Q. 2 Which segments will grow at a faster pace
and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some changing demands of
customers in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via material or product substitution?
Q.11 What M & A activities have taken
place in the last 5 years in this market?
This comment has been removed by the author.
ReplyDeleteHey Great One, Got valuable Information, Just wanted to share Gasket Manufacturers in India you might like
ReplyDeleteHey Great share, Thank you for the Useful Information. You Might Like Alloy 926 manufacturers in India. Looking Forward to more.
ReplyDelete