Optical Sorters Market Projected to worth a Value of US$ 3,350.2 Mn by 2026 |Industry Key Players - TOMRA Systems ASA, Buhler AG, Key Technology, Binder+Co AG, Satake Corporation

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Optical Sorters Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018–2026” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Optical Sorters Market have been elaborated upon in the research report.

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The Optical Sorters Market the optical sorters market is expected to reach US$ 3,350.2 Mn by 2026. The market is projected to expand at a CAGR of 10.4% from 2018 to 2026. According to the report, the optical sorters market is expected to be influenced by a range of factors such as cost reduction and increase in productivity through automation, growing labor costs, and stringent government regulations pertaining to food safety. Additionally, market players are focused on research and development to enable development of innovative and technologically advanced optical sorting solutions. Some of the majorly used technologies include Near Infra-Red (NIR) spectroscopy, fluorescent lighting and lasers, X-rays, and cameras. These technologically advanced optical sorters detect and remove the smallest foreign materials (FM) and defects, and automate the operation lines. Further, in the near future, optical sorters are expected to adopt more sophisticated algorithms which can allow them to better understand and process the information collected from sensors.

Repair and maintenance services are expected to be more lucrative for the optical sorters market

In terms of component, the optical sorters market is bifurcated into products and services. The services segment is further classified into consulting, repair and maintenance, and training. Products segment is anticipated to witness a significant CAGR growth rate. Nonetheless, hardware prices of optical sorters are projected to decrease over the forecast period. Consulting, and repair and maintenance services segments are estimated to expand at a significant CAGR of more than 11% during the forecast period. Substantial growth in adoption of advisory services provided by market players to evaluate the current operational processes of clients is pushing the revenues from the consulting services segment.

Market in North America to expand at a significant CAGR during the forecast period

North America is expected to hold substantial share of the global optical sorters market during the forecast period. Expansion of the market in the region is primarily due to the stringent government regulations pertaining to food safety especially in the U.S., significant mergers and acquisitions in the region, and significant growth in adoption of optical sorters in waste recycling facilities. Effective analysis and food sorting equipment have a huge role to play in brand and consumer protection. In the past, many companies experienced food-related recalls due to issues related to contaminations. In the U.S., the FDA Food Safety Modernization Act (FSMA), defines the FDA mandates, oversight tools, and authority to establish modern food safety standards for those who process, grow, store, and transport food. In June 2017, Penn Waste, Inc., a Pennsylvania, U.S.-based commercial and residential waste recycling and removal services provider, introduced NRT MetalDirector and NRT optical sorters in its materials recovery facility (MRF). The new system integration will improve output material purity and throughput to more than 45 tph (tons per hour).

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TOMRA Systems ASA, Buhler AG, Key Technology, Binder+Co AG, and Satake Corporation are some of the major players operating in the optical sorters market, profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as a part of company profiling. Various market players are establishing partnerships, entering into strategic M&As, and expanding in the emerging economies in order to enhance their market position. For instance, in May 2018, Satake Corporation launched FMSR Series optical sorters in Brazil for a wide range of applications. Two models, FMSR03-L (3 chutes) and FMSR02-L (2 chutes), use RGB technology to remove unwanted products, including irregular-shape defects, and discoloration from small products such as coffee beans.

Global Optical Sorters Market Segmentation

Global Optical Sorters Market, by Component

Products
Services
Consulting
Repair and Maintenance
Training
Global Optical Sorters Market, by Type

Camera
Laser
NIR
X-ray
Combined
Others
Global Optical Sorters Market, by End-use

Food Processing
Tobacco Processing
Waste recycling
Mining
Others
Global Optical Sorters Market, by Geography

North America
The U.S.
Canada
Rest of North America
Europe
The U.K
Germany
France
Rest of Europe
Asia Pacific (APAC)
China
India
Australia
Rest of APAC
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
South America
Brazil
Rest of South America

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