The Hand-Held Chemical And Metal Detector Market Share, Market Size, And Growth Rate 2022
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The hand-held chemical and metal detector market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of almost 14%, as per The Business Research Company’s market report!
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The Hand-Held Chemical And Metal Detector Market Size In 2022 And Forecast
The global hand-held chemical and metal detector market is expected to grow from $1.71 billion in 2021 to $1.93 billion in 2022 at a compound annual growth rate (CAGR) of 12.81%. The global hand-held chemical and metal detector market size is expected to reach $3.26 billion in 2026 at a compound annual growth rate (CAGR) of 13.96%.
The hand-held chemical and metal detectors market consists of sales of hand-held chemical and metal detectors devices by entities (organizations, sole traders, and partnerships) that are used by narcotics and forensic departments to detect various chemicals and metals.
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Increase In Drug Abuse Is Driving The Growth Of The Hand-Held Chemical And Metal Detector Market
According to UNODC’s World Drug Report 2021, in 2018, nearly 269 million people used drugs, which then increased to 275 million people by the year 2020. According to the report, the pandemic’s increased unemployment and diminished prospects will disproportionately affect the poorest, rendering them more vulnerable to drug use as well as drug trafficking and cultivation for profit. Therefore, an increase in drug abuse drives the growth of the hand-held chemical and metal detection markets.
Competitive Landscape And The Regional Analysis Of The Hand-Held Chemical And Metal Detector Market
Major players in the hand-held chemical and metal detector market are 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., and Nuctech Company Limited.
Additionally, as per TBRC’s research – North America was the largest region in the hand-held chemical and metal detector market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Hand-Held Chemical And Metal Detector Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hand-held chemical and metal detector market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the hand-held chemical and metal detector market.
Technological Advancement – A Key Trend In The Hand-Held Chemical And Metal Detector Market
Major players in the market are focusing on bringing innovative products to market to obtain an edge in the market against their competitors.
Hand-Held Chemical And Metal Detector Market Segmentation By The Business Research Company
1) By Technology: Raman Spectroscopy, Ion Mobility Spectrometry, Metal Identification, Others
2) By Deployment: Fixed, Portable
3) By Application: Chemical Detection, Explosive Detection, Narcotics Detection, Metal Detection
4) By End User: Military and defense, Customs and borders industries, Chemicals, Pharmaceuticals, Law Enforcement, Forensic Department
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