Rockville , March 26, 2024 (GLOBE NEWSWIRE) -- The global optical sorting equipment market has been valued at US$ 3.41 billion for 2024. Worldwide sales of optical sorting equipment are projected to rise at a CAGR of 5.6% between 2024 and 2034.
Optical sorting equipment finds extensive applications in the food and beverages, recycling, and mining industries. Technological advancements, industrial automation, and the need for efficient sorting processes are the factors influencing this increased demand. Multispectral and hyperspectral imaging capabilities are incorporated into optical sorting equipment to revolutionize sorting processes by enabling more precise and detailed analysis of objects.
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In recent years, advancements in sorting technology have been notable across various industries. Optical sorting devices capable of sorting plastic flakes by color, polymer type, and transparency are facilitating the production of high-quality recycled materials. Owing to increasing environmental concerns, companies are emphasizing sustainability and waste reduction initiatives. Optical sorting equipment efficiently segregates recyclable materials from non-recyclables using advanced sensors and algorithms, thus playing a vital role in waste management.
| Report Attribute | Details |
| Value Projection (2034) | US$ 5.89 Billion |
| Growth Rate (2024-2034) | 5.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 160 Tables |
| No. of Figures | 131 Figures |
Key Takeaways from Market Study
- The global optical sorting equipment market reached a valuation of US$ 3.22 billion in 2023 and is projected to climb to US$ 5.89 billion by 2034-end.
- The United States market is projected to expand at a CAGR of 3.6% from 2024 to 2034.
- The food industry accounted for a market share of 34.4% in 2023.
- The near-infrared (NIR) technology segment is forecasted to expand at a CAGR of 5.8% during the forecast period (2024 to 2034).
“Growing demand for optical sorting equipment across the food and beverages, recycling, and mining industries is fueled by factors such as technological advancements, adoption of industrial automation, and stringent regulations governing food safety,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Allgaier Werke GmbH (Allgaier Process Technology GmbH)
- Aweta
- Binder+Co
- Buhler AG
- Cimbria
- CP Manufacturing Inc. (MSS, Inc.)
- Eagle Vizion
- Greefa
- Green Machine, LLC
- Key Technology (Duravant)
- Newtec A/S
- Pellenc ST
- Satake Corporation
- Sesotec GmbH
- STEINERT GmbH
- TOMRA Group
Market Growth Strategies
Industrial equipment providers are investing in R&D to lead in technological advancement and diversification. These companies have a strong network that facilitates expansion of their regional as well as global presence. According to Fact.MR’s analysis, the top five players in the optical sorting equipment market are estimated to collectively account for a 34.5% share of the market in 2024.
The market is poised for continued growth, driven by technological innovation and an increasing number of mining projects. This presents both established players and localized providers with opportunities to expand their offerings and reach.
Competitors in this market are launching technology-driven products.
- In November 2023, TOMRA introduced the INNOSORT™ FLAKE.
- In October 2020, Satake USA launched a new series of FMSR-IR based on its latest RGB technology.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the optical sorting equipment market, presenting historical market data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on technology (VIS cameras, lasers, near-infrared [NIR], X-rays, hyperspectral imaging [HIS]), sorting platform (belt, freefall, chute-fed), capacity (object/hr) (low capacity [less than 6 metric tons], medium capacity [6 to 25 metric tons], high capacity [more than 25 metric tons]), and application (food industry, recycling industry, mining industry, pharmaceutical industry, postal & logistics industry, automotive industry, beverages industry, cosmetics & personal care industry, glass industry, rubber & plastic industry, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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Parcel Sortation Systems Market: The global parcel sortation systems market is valued at US$ 1.4 billion in 2022 and is predicted to hit US$ 2.7 billion by 2032, registering a CAGR of 6.7% from 2022 to 2032.
Europe Recycling Sorters Market: The Europe recycling sorters market is set to enjoy a valuation of US$ 168.9 million in 2023 and further expand at a CAGR of 5.5% to reach US$ 289.6 million by the end of 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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