DUBLIN, July 18, 2017 /PRNewswire/ --
The "Growth Opportunities in the Global Metal Detector Market" report has been added to Research and Markets' offering.
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.
Emerging trends, which have a direct impact on the dynamics of the metal detector 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.
The report 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. The report 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.
- CEIA-Costruzioni Elettroniche Industriali Automatismi S.p.A.
- Codan Limited (Minelab)
- Eriez Manufacturing Co.
- Fisher Research Labs
- Garrett Electronics, Inc.
- L3 Security & Detection Systems
- Lock Inspection Systems
- Mettler-Toledo (Safeline)
- Rapiscan Systems, Inc. (OSI Systems)
- Smiths Detection Inc.
- Tesoro Electronics, Inc.
- Thermo Fisher Scientific Inc.
- White's Electronics, Inc.
- XP Metal Detectors
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
For more information about this report visit https://www.researchandmarkets.com/research/nr5q56/growth
Laura Wood, Senior Manager
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SOURCE Research and Markets