Industrial Metal Detector Market Is Expected to Expand US$ 900 Mn by 2026
Region - North America, Latin America,Europe, Japan, APEJ, MEA;
New York, NY -- (SBWire) -- 04/09/2018 --According to a report recently compiled by Persistence Market Research, the global industrial metal detector market is projected to register an above average expansion through the forecast period, 2017 to 2026. Over US$ 900 Mn worth of industrial metal detectors are estimated to be sold globally by 2026-end.
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Metal is considered to be one of the most commonly found contaminants in food products. Metal fragments in food products may invade from various sources including bits of farm tools during the process of harvesting, or parts of robotic systems during processing of food products.
In addition, the more food products undergo processing, the more difficult detection of metallic contaminants gets, as relatively larger and easier to seek metal pieces are crushed down into smaller fragments, which escape visual checks done by workers. It is therefore imperative to ensure screening out of metal pieces in processed food, which can be efficiently done by using industrial metal detectors.
Technically utilization of metal detectors in industries is not mandatory, however they are highly recommended on the back of their simplicity, cost, and the higher prevalence of metal contaminants in various industrial products. Metal detectors are placed at various nodes of production processes in order to achieve optimum efficiency.
However other potential contaminants such as paint chips, hair, glass and wood cannot be detected by metal detectors alone. X-ray detection is the most commonly employed alternative to industrial metal detectors, and can detect metal as well as other physical contaminants.
On the basis of capability type, non-ferrous metal detectors are anticipated to remain sought-after among end-use industries, followed by non-magnetic metal detectors. Revenue share of industrial metal detectors with hot metal detection (HMD) capability in the market is likely to remain relatively lower than that of non-ferrous and non-magnetic metal detectors.
However, revenues from HMD segment will increase at a higher CAGR than those from non-ferrous segment. Sales of non-magnetic metal detectors will exhibit the fastest expansion through 2026.Based on end-use industry, food & beverage and pharmaceutical will continue to account for the largest revenue shares of the market during the forecast period.
Mining and plastic & rubber industries will also remain financially worthwhile in the market, with sales collectively forecast to exceed US$ 300 Mn in revenues by 2026-end. However, sales of industrial metal detectors in the textile industry is projected to reflect a relatively higher CAGR than all the other end-use industries through 2026.
In-line/gravity fed – free flowing metal detectors are anticipated to remain the top-selling product in the market, with revenues set to hold approximately one-third revenue share of the market by 2026-end. In-line/conveyed media metal detectors are also expected to account for a major portion of the market's revenue share through the forecast period. In-line/conveyed media metal detectors are projected to exhibit the highest CAGR in the market through 2026.
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North America will continue to be the most remunerative market for industrial metal detectors, albeit sales in the region are projected to register the lowest CAGR through 2026. Europe and APEJ will also remain lucrative for growth of the industrial metal detector market. In addition the market in Europe and MEA are projected to ride on a similar CAGR through 2026. In addition, Latin America will continue to be the fastest-expanding market for industrial metal detectors.
Key companies identified by the report include Eriez, Mettler- Toledo International Inc., CEIA, Loma, Antitsu, Sesotec, Nissin Electronics, Mesutronic, Thermo Fisher, Fortess Technology, Nikka Densok, Cassel Messtechnik, VinSyst, Foremost, COSO, Ketan, and Shanghai Shenyi.
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