Global Metal Detectors Market
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Metal Detectors Market : Drivers and Challenges
The global metal detectors market is expected to be significantly driven by increasing government investments in security owing to the rising violence and conflicts worldwide. Furthermore, ongoing infrastructural development across countries to develop new airports, stadiums and other such infrastructures will create demand for metal detectors. Security application is expected to hold a major share of the demand for metal detectors and witness robust growth over the forecast period. The global metal detectors market has also witnessed increased adoption of metal detectors in industrial application.
Moreover, day-by-day general public is understanding the importance of security equipment and as a result systems such as metal detectors are also being increasingly deployed in residential buildings/apartments/townships so as to ensure safety of residents.
One of the factors restraining growth is the higher cost, however this factor has only a moderate impact over the growth of the market. Government regulations in some of the countries, which ban the use of metal detectors for applications such as precious metal detection is expected to hamper market growth.
Metal Detectors Market: Key Players
Examples of some of the market participants identified in the global metal detectors market are;
Fisher Research Laboratory
Garrett Metal Detectors
XP Metal Detectors
Nokta Metal Detectors
Tesoro Metal Detectors
Makro Metal Detectors
Metal Detectors, Inc.
Metal Detectors Market: Regional Overview
Asia Pacific is expected to remain a major market for metal detectors over the forecast period. The region is expected to generate significant demand for metal detectors for security screening application owing to the ongoing infrastructural developments in the countries such as China and India. North America and Europe are expected to be the next big markets for metal detectors. These regions are expected to witness significant CAGR over the forecast period. Latin America and Middle East & Africa are estimated to expand at a slower growth rate as compared to Asia Pacific, North America and Europe.
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