26 C
New York
Monday, June 24, 2024
HomeResearchHandheld Chemical and Metal Detector Market Size is expected to reach at...

Handheld Chemical and Metal Detector Market Size is expected to reach at USD 8.62 Billion by 2031 With CAGR of 12.75% | Rising Demand in Security & Safety Applications

Date:

Related stories

spot_imgspot_img


The Handheld Chemical and Metal DetectorMarketSizewas valued at USD 3.30 billion in 2023. By 2031, it is projected to reach USD 8.62 billion.

Stringent government regulations demanding stricter security measures play a major role, with law enforcement agencies and border security projected to account for over 55% of the market by 2031.

Moreover, the travel and tourism boom, with an increasing number of passengers demanding safe transportation experiences, is expected to promote demand by over 20% in the coming years. Additionally, the rise in chemical and explosive threats is a key factor. Industrial accidents and the illegal transportation of hazardous materials are driving the need for these detectors, particularly in sectors like manufacturing and logistics, expected to contribute over 15% to the market share.

Download Sample Copy of Report: https://www.snsinsider.com/sample-request/2452

Some of Major Keyplayers:

  • OSI Systems, Inc.
  • Teledyne Technologies Incorporated
  • Smiths Group plc
  • Thermo Fisher Scientific Inc.
  • Agilent Technologies, Inc.
  • Bruker Corporation
  • Leidos
  • Garrett Metal Detectors
  • 908 Devices Inc.
  • Nuctech Company Limited

According to SNS Insider a major challenge is achieving high accuracy in chemical detection, particularly for complex mixtures or low concentrations.

Industry reports suggest that false positives can be as high as 20%, leading to unnecessary delays and disruptions. Additionally, these devices can be expensive, with sophisticated models reaching upwards of $10,000, which may limit affordability for some security applications. Furthermore, operator training plays a crucial role in effective utilization. Studies indicate that user error can contribute to missed detections in up to 15% of scenarios.

Market Dynamics: Key growth opportunities and Trends.

Law enforcement agencies, customs departments, and border security are expected to be key contributors to this growth, utilizing these portable detectors for efficient on-site inspections at a rate exceeding 70%. Moreover, the market is self-assured for expansion in developing regions like China and India, where growing populations and stricter government regulations are driving a security focus of over 65%. This several of factors underscores the immense potential for handheld chemical and metal detectors in safeguarding people and infrastructure in an increasingly complex world.

Enquiry Before Buy: https://www.snsinsider.com/enquiry/2452

Chemical detection sub-segment in By Application holds the maximum share, anticipated to grow at a rate exceeding 13.5% CAGR.

This rise is driven by rising concerns over hazardous materials, chemical threats, and illegal substances. Narcotics detection follows closely, projected for a significant growth due to heightened efforts to combat drug trafficking. Metal detection, though currently holding a dominant revenue share, is expected to experience a steadier growth as its application remains crucial in security checkpoints and access control. These trends highlight the evolving security landscape, where an emphasis on chemical and narcotics threats is shaping the demand for specialized detection solutions within the handheld chemical and metal detector market.

While North America remains a dominant player due to established security measures accounting for over 50% of the market share in 2023, Asia Pacific is expected to witness the most significant rise projected at over 14% CAGR. This growth is driven by factors like rising security concerns due to increasing terrorist activities and population density, along with growing government investments in infrastructure and stricter regulations on hazardous materials. Latin America and the Middle East & Africa (LAMEA) are also expected to witness healthy growth due to similar factors, with LAMEA showing particular promise in the mining and oil & gas sectors, which require strong safety protocols.

Recent Developments:

  • Recently, 908 Devices Inc.’s MX908 update introduced a game-changing  aerosol detection module, boosting its ability to identify chemical threats by a significant margin. This provides to a critical gap in response workflows.
  • Bruker Corporation is launching their RoadRunner explosives trace detector, specifically designed for efficient passenger and baggage security screening at airports. This focus on improved detection methods reflects a wider trend, with governments playing a role too.
  • As security concerns rise, particularly in developing regions like China, favorable government policies are providing a tailwind for the market, promoting the adoption of these advanced handheld devices by law enforcement, customs, and border security agencies.

Key Takeaways:

  • This translates to a significant demand from law enforcement over 50%, customs and border security, and the military.
  • The chemical detection segment is anticipated to capture the largest market share over 50% due to heightened concerns over chemical and explosive threats.
  • Technological advancements like Raman spectroscopy and ion mobility spectrometry are constantly improving detection accuracy and driving market growth.
  • However, factors like relatively high device costs and limitations in identifying certain substances can hinder wider adoption.

Buy Complete Report: https://www.snsinsider.com/checkout/2452

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we’re proud to be recognized as one of the world’s top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

Contact Us:

Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img