Request FREE sample PDF
Pharmacy benefit management market
SORTING MACHINES MARKET REPORT OVERVIEW
global sorting machines market size was USD 2136.9 million in 2020 and market is projected to touch USD 3595.7 million by 2027 at CAGR 7.7% during the forecast period.
Sorting is the process of systematically organizing things. A sorting machine is a technically advanced machine used to sort large items in relatively complex buildings. These machines are designed to make things easier and the sorting machine technologies can be optical sorting, digital sorting, sensor sorting, magnetic sorting and more. Sorting machines automatically sort objects according to color, structural characteristics, weight, size, chemical composition, shape, etc.
Sorting machines are used in various industries including distribution, packaging, food processing, mining, recycling, waste management, chemical industry, plastic industry, leading to market growth and high market share.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The COVID 19 pandemic has strongly affected the entire world. This caused many unexpected disruptions and affected the industry. The market has been negatively affected by COVID 19 due to the slowdown in economic growth, the unpredictability of the financial sector and highly volatile markets. The pandemic caused demand to drop by due to supply chain disruptions, reduced product sales and delivery schedules. The imposed travel bans concerned business cooperation and partnerships. Demand has recently fallen due to travel bans and shutdowns during the COVID-19 pandemic. The continued loss of business due to the closure measures is expected to have a direct impact on market investment growth.
LATEST TRENDS
"E-Commerce Boom Drives Sorting Machine Market Growth"
The rapid expansion of e-commerce is accelerating the growth of the sorting machine market. Thee-commerce sector refers to the buying and selling of products and services online, typically through websites and digital platforms. E-commerce ordering machines make the order-delivery process more efficient, reduce operating costs, minimize errors and improve the overall customer experience. Therefore, the rapid expansion of electronic commerce is contributing to the sorting machines market growth.
SORTING MACHINES MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into Optical Sorting Machines, Gravity/Weight Sorting Machines, Others.
Optical Sorting Machines: Optical sorters are used in various applications such as pharmaceuticals, food and beverages, consumer goods and others. Optical sorting machines are also known as an optical scanning system or OSS (Optical Sorting System). They consist of a series of transparent panels mounted on a frame that can be moved either manually or automatically by a mechanism. The image captured by the camera is processed to determine the content and location of each package/product.
Gravity/Weight Sorting Machines: Gravity/weight sorters are used in the material handling industry to separate materials based on their weight or gravity. These sorting machines can be used for recycling, waste management and resource recovery. The market is segmented on the basis of product type, which includes spherical sorters, block sorters and pocket sorters and globe sorters.
- By Application
Based on application the global market can be categorized into Food Industry, Recycling Industry, Others.
Food Industry: Optical sorters are widely used in the food industry worldwide and have become increasingly common in the processing of harvested foods, including fruits, vegetables, nuts and potatoes, where they achieve non-destructive, 100% line control during production. volumes. They are also used in various industries, including food, tobacco processing, waste recycling, and pharmaceuticals.
Recycling Industry: In the waste recycling industry, they have applications for the identification and disposal of production waste such as cardboard, metal, plasterboard and various plastics.
DRIVING FACTORS
"Increasing Technological Advances Will Boost Market Growth"
Technological advances have revolutionized the sorting machine market. Using artificial intelligence and machine learning, these systems can now accurately identify and separate different types of plastic, improving recycling efficiency and reducing pollution. Advanced sensors and robotics streamline the process, increase productivity and reduce labor costs. In addition, IoT integration enables real-time monitoring and maintenance to ensure consistent operation. This progress not only promotes sustainability by increasing recycling rates, but also offers profitable opportunities for companies moving into the ecological sector, making this a pivotal moment in the development of the industry.
"Growth Of Food And Beverage Fuels Sorting Machines Market"
The increase in demand from the food and beverage industry will lead to the growth of the Sorting Machines market. The food and beverage industry includes companies involved in the production, processing, distribution and sale of food and beverages. Optical sorters are mainly used in the food industry around the world and have improved penetration in handling harvested foods such as fruits and vegetables. Therefore, increasing demand from the food and beverage industry is contributing to the sorting machines market growth.
RESTRAINING FACTORS
"Financing Plastic Waste To Prevent Market Expansion"
The increasing operating cost in developing countries is a consequence of the slow adoption of development. This is due to the increased combined costs of collection, transport, treatment and disposal, which include the cost of recycling, as waste disposal differs significantly between higher and lower income countries. Thus, it is expected that the operating costs of such plastic landfills will affect the distribution of the products. However, the growth of the market should be accelerated by the improvement of financing of the state and local governments.
SORTING MACHINES MARKET REGIONAL INSIGHTS
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
"North America Dominating the Market due to Increase In Demand For Advanced Sorting Machines Due To Automation And Digitization Projects"
North America is expected to be the fastest growing global sorting machines market share during the forecast period. The region is witnessing an increase in demand for advanced sorting machines due to automation and digitization projects in various industries. According to forecasts, the United States (US) will be the leading country in terms of revenue distribution until 2022. Latin America contributed approximately 10% of the total revenue of the global sorting machine market in 2016. There is growth in this area. demand for automated sorting machines due to increasing industrialization and growing population. Brazil, Mexico, Argentina and Chile are some of the main countries that are estimated to account for a significant portion of regional growth over the next five years.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The sorting machines market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- Tomra (Norway)
- Bühler (Switzerland)
- Satake (Japan)
- Hefei Meyer Optoelectronic Technology Inc. (China)
- Steinert (Germany)
- Sesotec GmbH (Germany)
- Duravant (U.S.)
- Aweta (Netherlands)
- Anhui Zhongke Optic-electronic Color Sorter Machinery Co., Ltd. (China)
- Anhui Jiexun Optoelectronic Technology Co., Ltd. (China)
- Hefei Taihe Optoelectronic Technology Co., Ltd. (China)
- Redwave (BT-Wolfgang Binder GmbH) (Austria)
- Binder+Co AG (U.S.)
- GREEFA (Netherlands)
- Anhui Hongshi Optoelectronic High-Tech Co., Ltd. (China)
- Raytec Vision (Italy)
- Hefei Angelon Electronics Co.,Ltd. (China)
INDUSTRIAL DEVELOPMENT
June 2022: The Swiss Bühler Group has launched the SORTEX H Spectra Vision optical sorter for wheat, rye, oats, cereals, coffee and legumes. Using British and Swiss design, the offers customers three main advantages: unmatched ease of use, superior performance and better connectivity, all of which increase durability. SORTEX H also offers up to 50% higher waste concentrations.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2136.9 Million in 2020 |
Market Size Value By |
US$ 3595.7 Million by 2027 |
Growth Rate |
CAGR of 7.7% from 2020 to 2027 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the sorting machines market expected to touch by 2027?
The global sorting machines market is expected to reach USD 3.595 billion by 2027.
-
What CAGR is the sorting machines market expected to exhibit by 2027?
The sorting machines market is expected to exhibit a CAGR of 7.7% by 2027.
-
Which are the driving factors of the sorting machines market?
Increasing technological advances and growth of food and beverage are some of the driving factors of the market.
-
What are the key sorting machines market segments?
The key market segmentation that you should be aware of, which include, Based on type the sorting machines market is classified as Optical Sorting Machines, Gravity/Weight Sorting Machines, Others. Based on application the sorting machines market is classified as Food Industry, Recycling Industry, Others.