A CAGR of 5.1% is expected for the global inspection machines market due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 1,053.5 Mn by 2032, up from US$ 643.1 Mn in 2022. There has been a rising number of inspection checkpoints throughout the production line. This is likely to drive the sales of inspection machines.
These solutions are not only expanding its footprint in manufacturing sectors, but also growing its demand in non- manufacturing applications. Inspection Machines are a types of machines which are used in scrutinizing products specially, packaging components or packages in order to ensure the specifications. Evolving technologies have also increased the inspection tasks which can be easily performed.
For instance, modern technology allows metal detectors to detect non-ferrous metals as well as wood, glass, and bone in products, whereas earlier models could only detect ferrous metals.
The pharmaceutical industry makes extensive use of inspection systems to check batch codes and determine whether each component of the packaging is appropriate for the product being packed. However, between 2016 and 2026, it is anticipated that this $1 billion industry will grow significantly on a global scale.
For instance, earlier the metal detectors were limited to detect ferrous metals but nowadays, with the help of different technology, it is possible to detect wood, glass, bone and also non-ferrous metals in products. The inspection systems has a wide application in the pharmaceutical industry in order to check the batch codes and to check that every component of packaging is precise for the product being packed or not. However, this million dollar industry is anticipated to witness strong growth worldwide during the forecast period, 2016–2026.
Inspection Machine Market: Market Dynamics
Rising number of inspection checkpoints along with growing adoption of automated inspection machines is expected to fuel the inspection machines market. One of the major factor which is driving the inspection machines market is the increasing number of governing obligations in order to maintain the agreement with the Good Manufacturing Practices (GMP). However, increase in demand for reused or refurbished machines is expected to make a major hindrance to the inspection machines market and also affect the new machinery sales inspection machines.
Inspection Machine Market: Region-wise outlook
Inspection Machine Market has been segmented into five different regions which includes North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among these all the regions, North America is expected to account for the largest market share of the inspection machines market followed by Europe in terms of sales consumption which in turn dominate the market throughout the forecast period. The market is highly consolidated in United States (U.S.). Though, Asia Pacific lags behind in terms of total market size as compared to North America and Europe, the market in Asia Pacific is gaining eminence in countries like China and India. Henceforth, the inspection machine market is expected to witness significant growth in Europe and North America.
Inspection Machine Market: Key Players
Some of the key participants of inspection machine market includes Brevetti C.E.A. Spa, Bosch Packaging Technology, Iris Inspection Machines, CMP PHAR.MA S.R.L., A.H. Industries, Tofflon Science and Technology Co.Ltd, Proditec Automatic Inspection Machines, ANTARES VISION S.r.l., Brevetti C.E.A. SPA, Mettler-Toledo International Inc., Cognex Corporation, Körber Medipak Systems AG, Korber AG and many others.
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