Press release
The Industrial Metal Detector Market to witness catalysis based on digitized liquid analysis at aa CAGR of 4%
The global industrial metal detector market growth is expected to be led by developed regions - North America and Europe. The global industrial metal detector market is moderately fragmented and leading manufacturers in the market are based in the US, Germany, France, and Italy. Technological advancements are a key factor, as top 10 leading players are investing in enhancing the competitiveness of their products.
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Market entry for new players is moderately difficult as regional and global players have a strong presence in the industrial metal detector market. Top 7 players cover ~40% of the global industrial metal detector market share. Further, the import of industrial metal detectors is also driving sales for manufacturers based in India, China, and Taiwan.
Key Takeaways - Industrial Metal Detector Market
Inline/gravity fed free flowing is going to prevail as a prominent segment in the global industrial metal detector market.
Manufacturers of industrial metal detectors are focusing on introducing and launching new products suiting customized industry requirements.
Adoption of advanced technologies such as multi-scan results in excellent sensitivity and accuracy during metal detection. Detectors based on multi-scan and micro-scan technologies are thus gaining traction in the global industrial metal detectors market.
Manufacturers are increasingly using advanced technologies such as surface mount (SMT) and multiband for enhancing their product portfolios.
Investments in new processing and packaging lines are driving opportunities for the installation of industrial metal detectors.
F&B and pharma industries are driving market growth of industrial metal detectors globally. In the forecast period, these segments are projected to capture a sizable share in the global industrial metal detector market due to rising investments in packaging lines, new production bases, and detection of micro foreign particles.
The market in North America is estimated to have a stronghold with a prominent position in the global industrial metal detector market. However, market in Asia Pacific excluding Japan will display a higher CAGR.
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Referring to strong growth prospects of food & beverages and pharma industries in ASEAN countries, the market for industrial metal detector in India, China, and Brazil will witness robust growth in the near future. Furthermore, the efforts to accelerate the production rate and enhance the quality of contaminant identification are anticipated to accelerate the sales of industrial metal detectors.
Developing Regional Markets - Goldmine of Opportunity
Manufacturers of industrial metal detectors are focusing on product launches, in addition to mergers and collaborations. Such competitive moves by manufacturers will enable them to establish a prominent customer base in developing regions such as ASEAN Countries, India, Brazil, and Turkey. The strategic move to invest in new manufacturing bases in ASEAN countries will help companies provide industrial metal detectors at lower costs. This would help them enhance their sales performance at significant margins. Besides, this strategy reduces operation costs without compromising on profit margins.
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Market in countries such as India, China, Indonesia, Thailand, Vietnam, Brazil, and Mexico will witness maximum growth opportunities generated by the incessant growth of packaged foods sector. Key market participants identified are Mettler-Toledo International Inc., Illinois Tool Works Inc., CEIA (Costruzioni Elettroniche Industriali Automatismi S.p.A.), Thermo Fisher Scientific Inc., and several others.
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