Handheld Chemical and Metal Detector Market to Reach $5.7 billion, Globally, by 2032 at 10.4% CAGR: Allied Market Research
The global handheld chemical and metal detector market is driven by factors such as growing application of rigid metal detector and surge in preference for handheld chemical and metal detector in sector.
New Castle, Delaware, Aug. 31, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Handheld Chemical and Metal Detector Market, by Type (Metal, and Chemical), Application (Law Enforcement Agencies, Forensic Departments, Customs and Borders, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032″. According to the report, the global handheld chemical and metal detector market was valued at $2.2 billion in 2022, and is projected to reach $5.7 billion by 2032, registering a CAGR of 10.4% from 2023 to 2032.
Prime determinants of growth
The global handheld chemical and metal detector market is driven by factors include a rise in governmental regulations which fuels the demand for handheld metal and chemical detectors. In addition, there is a surge in need for reliable detection of metal contaminants in industrial products. However, the high cost of handheld chemicals, explosives, and narcotics detectors hamper the market growth to a certain extent. Moreover, the surge in need for airport security provides lucrative opportunities for market growth.
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Report coverage & details:
|Market Size in 2022||$2.2 billion|
|Market Size in 2032||$5.7 billion|
|No. of Pages in Report||327|
|Segments covered||Type, Application, and Region.|
|Drivers||Rise in government regulations for public safety. Surge in need for reliable detection of metal contaminants in industrial products|
|Opportunities||Surge in need for airport security|
|Restraints||High cost of handheld chemical, explosive, and narcotics detectors|
- The COVID-19 epidemic significantly changed the dynamics of the supply chain, raised demand for preventing chemicals, and brought attention to health and safety precautions, all of which influenced the handheld chemical and metal detector market.
- Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that can endure the rigours of shipping and handling.
- The pandemic had intensified the attention on sustainable handheld chemical and metal detector solutions as people looked for eco-friendly choices.
The chemical detector segment to maintain its leadership status throughout the forecast period
Based on type, the chemical detector segment held the highest market share in 2022, accounting for more than three-fifths of the global handheld chemical and metal detector market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment also held the major CAGR of 10.67% in 2032, owing to the need for solutions for preventing chemical assaults. One important factor propelling the market’s growth is the rise in security risks throughout time. The usage of chemical monitoring systems in the defense sector has increased because of this.
The law enforcement agencies segment to maintain its leadership status throughout the forecast period
Based on application, the law enforcement agencies segment held the highest market share in 2022, accounting for more than two-fifths of the global handheld chemical and metal detector market and is estimated to maintain its leadership status throughout the forecast period. This segment held the major CAGR of 10.99% in 2032. There is an increasing focus on multi-functionality to streamline officer’s toolkits and increase operational effectiveness. Handheld detectors are being built to integrate metal and chemical detection capabilities in a single instrument.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the global handheld chemical and metal detector market revenue and is likely to dominate the market during the forecast period. The region held the major CAGR of 11.31% in 2032. Its dominance is due to its broad range of end users, which includes law enforcement and forensic departments, personnel working in border and customs security, members of the armed services, airports, and the pharmaceuticals sector.
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Leading Market Players: –
- Osi Systems, Inc.
- Teledyne Technologies Incorporated
- Smith Group Plc
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Bruker Corporation
- Garrett Metal Detectors
- Nuctech Co. Ltd.
- Airsense Analytics Gmbh
The report provides a detailed analysis of these key players in the global handheld chemical and metal detector market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This study comprises analytical depiction of the global handheld chemical and metal detector market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall global handheld chemical and metal detector market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global handheld chemical and metal detector market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the handheld chemical and metal detector.
- The report includes the market share of key vendors and global handheld chemical and metal detector market trends.
Handheld Chemical and Metal Detector Market Key Segments:
- Customs and Borders
- Forensic Departments
- Law Enforcement Agencies
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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