Metal Detector Market Size, Share, Growth, and Industry Analysis, By Type (Pulse Induction, Very Low Frequency, Beat-frequency Oscillation and Others), By Application (Security, Leisure & Entertainment and Others), Regional Insights, and Forecast From 2023 To 2030

Updated On: 20 November 2023

metal detector market REPORT OVERVIEW

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The global metal detector market size was USD 613 million in 2021. As per our research, the market is projected to touch USD 1065.3 million by 2027, exhibiting a CAGR of 8.2% during the forecast period.

The presence of surrounding metal objects can be found with a metal detector. The detectors are employed for a wide range of purposes, including the military, archaeology and treasure hunting, leisure and entertainment, and others. One of the key reasons propelling the growth of this market is the rising need for metal detectors from various applications.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 pandemic has halted the manufacture of digital detectors, which has slowed their expansion over the past several months and is expected to continue in 2021. This is due to the worldwide lockdown that has resulted from the epidemic. The lock-down's possible future effects are currently unknown, and organisations' ability to recover financially depends entirely on their cash reserves. Manufacturers of digital detectors can afford a complete lockdown for only a few months before the players must change their investment strategies. For instance, in order to cut costs, a number of market participants temporarily stopped their output. In contrast, a select few players also implemented employee layoffs to survive the COVID -19 health crisis.

LATEST TRENDS

"Technological Innovations to Probe as One of the Key Factors Driving Market Potentially"

Numerous market players are creating cutting-edge products to satisfy consumer demand. Wireless audio, integrated GPS, and waterproof platforms are some of the most recent detector innovations. For instance, Minelab (a CODAN subsidiary) offers the GPZ 7000 metal detector, which has enhanced noise immunity, exceptional gold depth, wireless audio freedom, precision ground balancing, GPS finding, and ground balance control. The price of advanced detectors is more than low-end metal detectors because of all these features. During the anticipated time frame, such developments will fuel market expansion.

metal detector market SEGMENTATION

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• By Type

Based on type the metal detector market is classified as pulse induction, very low frequency, beat-frequency oscillation and others.

The part very low frequency is the leading of the type segment.

• By Application

Based on application the metal detector market is classified as security, leisure & entertainment and others.

The part leisure & entertainment is the leading type of the application segment.

DRIVING FACTORS

"The Relative Applications in Numerous Sectors to Boost the Market Growth"

One of the key reasons fueling the expansion of this market is the rising demand across a variety of applications. This market's expansion is anticipated to be aided by metal detectors' rising appeal in leisure and entertainment settings like theme parks and museums. Additionally, it is projected that the growing use of the detectors for security purposes at airports and other transportation hubs will propel the development of this market.

"Increasing Adoption in Residential Areas to Multiply the Production and Market Growth"

Installing metal detectors in residential areas is made possible by the public's increased awareness of the value of security technology. Authorities are utilising both handheld and walk-through the detectors in residential areas due to the rise of terrorist activity there. Handheld digital detectors are commonly used in tiny residential flats. These detectors offer a cheap and efficient way to check visitors to residential properties. For increased security, it is anticipated that many residential buildings would install the digital detectors throughout the forecast period.

RESTRAINING FACTORS

"Several Challenges Concerned with the High Cost to Restrain the Market"

The shape of the detection surface, LED indicators, alarm types, sensitivity levels, and warranties provided all affect how much a metal detector costs. Prices for handheld digital detectors range from $95 to 550. The majority of the metal portable detectors have visual and audio alarms, while a few also have vibration alarms. Prices for metal walk-through  detectors range from $2,500 to $10,000. The detectors for ground searches cost $250 to $1,000. Due to this, most customers, particularly those in developing nations, are reluctant to use the detectors, which has an impact on the revenue of the global metal detector market.

metal detector market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Major Production and Multiplying Manufacturers"

Due to the presence of major manufacturers in this region, the North American region is predicted to hold the greatest metal detector market share in the entire world. The expansion of this market in North America is largely due to the US and Canada. Due to the rising demand for the detectors from numerous nations, North America is anticipated to expand at a high rate during the forecast period. All these factors combined are significantly contributing in the regions metal detector market growth.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive and has both international and local participants. The introduction of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other strategies include major actors.The report is a thorough investigation of a list of market participants who support market growth. The information is a synthesis of the most recent trends, mergers and acquisitions in the manufacturing industry, market research, and technological advancements. To comprehend the market share, product growth, revenue growth, and other elements during the anticipated term, further factors like regional and segmental analysis are also taken into consideration.

List of Market Players Profiled

• Mettler-Toledo (Switzerland)
• Anritsu Infivis (Japan)
• Minebea Intec (India)
• Nissin Electronics (Japan)
• Sesotec (India)
• Multivac Group (Germany)
• Loma Systems (U.K)
• Thermo Fisher (U.S.A)
• Bizerba (Germany)
• Ishida (Japan)
• WIPOTEC-OCS (Germany)
• Mesutronic (Germany)
• Fortress Technology (Canada)
• CEIA (U.S.A)
• Nikka Densok (Japan)
• Shanghai Techik (China)
• Gaojing (China)
• Easyweigh (China)
• Qingdao Baijing (China)
• COSO (China)
• Juzheng Electronic Technology (China)
• Dongguan Shanan (China)
• Dongguan Lianxin (China)
• Shanghai Shenyi (China).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points.The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.