Sorting Equipment Market REPORT OVERVIEW
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The global sorting equipment market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.
Sorting equipment refers to various machines and tools used to sort or classify materials or products based on specific criteria. Sorting equipment is used in a wide range of industries, including manufacturing, recycling, mining, agriculture, and logistics. Sorting equipment can be automated or operated manually, and can vary in size and complexity depending on the specific application.
Some common types of sorting equipment include; Conveyor systems, which are used to move products or materials from one place to another. Optical sorters employ cameras and sensors to detect and sort products based on their characteristics. There are more applications such as screening equipment, gravity separators, magnetic separators, X-ray sorters, air classifiers and so on. Sorting equipment plays a critical role in many industries by helping to improve efficiency, reduce waste, and increase product quality.
COVID-19 Impact: Digitalization Boosted Market Demand.
COVID-19 had a life changing impact globally. The global sorting equipment market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for sorting equipment experienced a reduced demand.
One of the immediate effects of the pandemic on the sorting equipment market has been the disruption of supply chains. The closure of factories, restrictions on movement of goods, and delays in international shipping have led to a shortage of raw materials, components, and finished products. However, with lockdowns in place, more people have been shopping online, leading to a surge in e-commerce activity. This has created a greater demand for sorting equipment in the logistics and warehousing sectors to handle the increased volume of packages and goods.
In addition, the COVID-19 pandemic has also prompted companies to invest in automation and digitalization to improve their operations and reduce the risk of infection. This has led to increased demand for sorting equipment that can be integrated with artificial intelligence (AI) and machine learning (ML) technologies to improve efficiency and accuracy. However the global sorting equipment market size is anticipated to grow owing to automation and digitalization in various industries.
LATEST TRENDS
"Automation and Digitalization to Benefit Market Prospects"
The global sorting equipment market share is expected to grow steadily in the coming years due to the increasing demand for automation and digitization in various industries. Sorting equipment manufacturers are developing smart sorting systems that can learn and adapt to changing conditions, resulting in increased efficiency and accuracy. Another trend is the integration of sorting equipment with other systems such as robots, conveyor belts, and sensors. This integration enables seamless sorting and handling of various types of products, resulting in increased productivity and reduced labor costs.
In the food and beverage industry, there is a growing demand for sorting equipment that can sort products based on their color, size, shape, and weight. This demand is driven by the increasing focus on food safety and quality control. There is a growing demand for sorting equipment that can separate different types of materials such as plastics, metals, and paper. This demand is driven by the increasing need for recycling and sustainable waste management practices. These latest developments are anticipated to boost the global sorting equipment market share.
Sorting Equipment Market SEGMENTATION
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- By Type
Based on type, the market is divided into Weight Sorting, Equipment, Size Sorting Equipment, and Other.
- By Application
Based on application, the market is bifurcated into Food Sorting, Waste Sorting, Mineral Sorting, and Other.
DRIVING FACTORS
"Growth of Ecommerce to Boost Market Share"
The growth of e-commerce has led to an increase in demand for sorting equipment in order to sort and handle large volumes of packages and parcels. There is increasing customer demands for high-quality products and the need to comply with regulations, sorting equipment has become essential in ensuring the quality of products. Sorting equipment can help companies reduce waste and improve recycling efforts, making it an important factor for companies looking to improve their sustainability practices.
"Technological Advancements to Boost Market Size"
Technological advancements in sorting equipment, such as artificial intelligence and machine learning, have made the sorting process faster and more accurate, leading to increased demand. Automation is increasingly being used in industries such as food and beverage, pharmaceuticals, and manufacturing, which has led to a higher demand for sorting equipment to improve efficiency and accuracy. Sorting equipment can help reduce labor costs and improve efficiency, making it an attractive investment for companies looking to improve their bottom line. These factors are anticipated to drive the global sorting equipment market size.
RESTRAINING FACTORS
"High Maintenance Costs to Hamper Market Share"
Sorting equipment requires regular maintenance to ensure it continues to function properly, which can add to the overall cost of ownership. The initial investment required for purchasing sorting equipment can be high, which may deter some companies from investing in this technology. There may be regulatory issues or requirements that companies need to comply with when using sorting equipment, which can add complexity and costs to the implementation process. These restraining factors might impediment the growth of the global sorting equipment market share.
Sorting Equipment Market REGIONAL INSIGHTS
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"Asia-Pacific Dominates the Sorting Equipment Market"
APAC is the major shareholder for the global sorting equipment market share. This is primarily due to the region's growing e-commerce sector, increasing adoption of automation and robotics in manufacturing and logistics, and the presence of large manufacturing hubs in countries. Additionally, the APAC is home to some of the world's largest economies and populations, leading to a high demand for sorting equipment in various industries. North America is the second largest shareholder in the global sorting equipment market share.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Tomra [Norway]
- Sesotec [India]
- Buhler Sortex [U.K.]
- Key Technology [India]
- Barco [Belgium]
- Satake [USA]
- Aweta [Netherlands]
- Meyer Corporation [U.S.]
- Beston Machinery [China]
- Charoen Pokphand Group [Thailand]
- Daewon GSE [Republic of Korea]
- Raytec Vision [Italy]
- Greefa [Netherlands]
- Concept Engineers [U.K.]
- Taiho Pharmaceutical [Japan]
- Steinert Unisort [Germany]
- BT-Wolfgang Binder [Austria]
- Binder+Co [Austria]
- Pellenc S.A.S [France]
- Kingtiger Environmental Technology [China]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
Frequently Asked Questions
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Which region dominates the global sorting equipment market?
Asia-Pacific dominates the global sorting equipment market.
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Which are the driving factors of the sorting equipment market?
Growth of Ecommerce and Technological Advancements are the driving factors of the sorting equipment market.
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Which are the top companies operating in the sorting equipment market?
Tomra, Sesotec, Buhler Sortex, Key Technology, Barco, Satake, Aweta, Meyer Corporation, Beston Machinery, Charoen Pokphand Group, Daewon GSE, Raytec Vision, Greefa, Concept Engineers, Taiho Pharmaceutical, Steinert Unisort, BT-Wolfgang Binder, Binder+Co, Pellenc S.A.S, and Kingtiger Environmental Technology are key companies operating in the sorting equipment market.
