TechDogs-"The Worldwide Handheld Chemical and Metal Detector Industry is Expected to Reach $4.1 Billion by 2027 - ResearchAndMarkets.com"

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The Worldwide Handheld Chemical and Metal Detector Industry is Expected to Reach $4.1 Billion by 2027 - ResearchAndMarkets.com

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DUBLIN--(BUSINESS WIRE)--The "Global Handheld Chemical and Metal Detector Market with COVID-19 Impact Analysis by Technology, Application, End User, and Geography - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global handheld chemical and metal detector market is expected to reach USD 4.1 billion by 2027 from an estimated USD 2.3 billion in 2022, at a CAGR of 12.4% from 2022 to 2027.

The chemical detection application is projected to lead the global handheld chemical and metal detector market during the forecast period

According to the New York State Department of Health, chemicals can be toxic as they harm humans and animals by causing damage to vital organs or body functions when they enter the body. Exposure to such toxic chemicals can severely affect human health, or in some cases, it can lead to fatality. Some chemicals can explode, burn, or react easily with other chemicals and become hazardous for humans and the environment. Thus, reliable and accurate chemical detection devices are essential to curb the spread of such toxic chemicals.

Handheld chemical detectors offer several advantages, such as rapid response time, easy operation, and the ability to scan through glass, plastic, and other container materials. They also help minimize the operator exposure to the chemical - keeping the first responder and community safer. According to the American Chemistry Council (ACC), the total chemical production volume in the US rose by 1.4% post COVID after a contraction of 3.5% in 2020.

The chemical production volume is estimated to increase by 4.3% in FY 2022. Thus, the increase in the production of chemicals is expected to increase the demand for handheld chemical detectors by the end-users to safeguard workers and communities. Owing to this, the chemical detection segment accounted for the largest share of the handheld chemical and metal detector market in 2021 and is expected to dominate the market during the forecast period.

Law enforcement agencies & forensic departments to witness the highest CAGR in the handheld chemical and metal detector market during the forecast period

First responders highly rely on robust systems that not only enhance their capabilities in the field but also reduce the potential security risks. Thus, there is a high demand for highly accurate and reliable handheld chemical, explosive, narcotics, and metal detectors by law enforcement agencies & forensic teams to safely detect chemicals, explosives, metals, and priority drugs in minimal time.

Furthermore, the increase in drug abuse during the pandemic and the emergence of carfentanyl, a synthetic opioid 10,000 times more potent than morphine and 100 times more potent than fentanyl, has increased the threat to communities and law enforcement agencies. This has led to increased demand for handheld narcotics detectors, which enable safe and accurate detection of such highly potent drugs.

Owing to these, law enforcement agencies & forensic departments held the largest share of the handheld chemical and metal detector market in 2021. Also, these end users are projected to dominate the market during the forecast period and are likely to witness the highest CAGR from 2022 to 2027.

Based on region, North America is expected to account for the largest share of the handheld chemical and metal detector market by 2027

In 2027, North America is projected to hold the largest share of the overall handheld chemical and metal detector market. The major factor contributing to this growth is the dominance of the US with the presence of numerous chemical, explosive, narcotics, and metal detector manufacturers, including OSI Systems, Inc.; Teledyne Technologies Incorporated; Thermo Fisher Scientific Inc.; Agilent Technologies, Inc.; and 908 Devices Inc., in the country.

Other factors spurring the growth of the handheld chemical and metal detector market in the region are the high adoption of handheld chemical, explosive, narcotics, and metal detectors by different end users, including law enforcement agencies & forensic departments, customs & borders, military & defense, airports, and the pharmaceuticals industries and increased initiatives by governments in procurement and development of compact and highly advanced handheld detection solutions.

Market Dynamics

Drivers

  • Increasing Threat of Chemical and Explosives Terrorism
  • Rising Focus of Governments Worldwide on Imposing Stringent Regulations to Ensure Human and Environmental Safety

Restraints

  • Extremely High Cost of Handheld Chemical, Explosive, and Narcotics Detectors, Along with Longer Time to Market

Opportunities

  • Increasing Efforts of Law Enforcement Agencies to Fight Against Drug Trafficking
  • Surging Need to Improve Airport Security

Challenges

  • Interference Caused in Functioning of Certain Medical Devices When End-users are Scanned Using Metal Detectors

Companies Mentioned

  • 908 Devices Inc.
  • Adams Electronics
  • Agilent Technologies, Inc.
  • Airsense Analytics GmbH
  • Anton Paar GmbH
  • Bruker Corporation
  • C.E.I.A. S.P.A.
  • Chemring Group plc
  • Environics Oy
  • Garrett Metal Detectors
  • Leidos
  • Ms Technologies Inc.
  • Nuctech Company Limited
  • Osi Systems, Inc.
  • Pendar Technologies
  • Pki Electronic Intelligence GmbH
  • Rigaku Corporation
  • Safeway Inspection System Limited
  • Scanna Msc Ltd.
  • Serstech Ab
  • Shenzhen Security Electronic Equipment Co., Limited
  • Smiths Group plc
  • Teledyne Technologies Incorporated
  • Thermo Fisher Scientific Inc.
  • Westminster Group plc

For more information about this report visit https://www.researchandmarkets.com/r/lpcn08


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First published on Fri, May 6, 2022

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