Trace Chemical Detector Market to Grow At 6.1% CAGR Between 2019 to 2027 analysis by Credence Research

The latest market report published by Credence Research, Inc. “Trace Chemical Detector Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” The global trace chemical detector market is worth US$ 1.93 billion in 2018 and is expected to grow by 6.1% in the CAGR during the forecast period from 2019 to 2027.

Market Insights

“High-security concern in public places driving the market demand”

The increasing number of airports and the increasing number of passengers on a daily basis in almost all regions of the world. With the increasing growth in the aviation sector, there is a high risk of drug trafficking and threats from terrorist organizations. There is a growing concern about passenger safety and to stop illicit drug trafficking, and there is a high demand for trace chemical detectors. Furthermore, with the increasing emphasis on anti-terrorism activities, many countries are deploying chemical and explosive detection systems across all public places, such as airports, city transport lines, nationally important government facilities, and research centers.

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In addition, miniaturization of the trace chemical detector is driving market demand. Portable and handheld devices launched by major market players have great potential to increase market demand. It can be integrated into a mobile or stationary detection platform that can be further used as a point-source detector or as a remote (stand-off) detector. They can be differentiated by their size, weight, portability, and logistical support requirements. These devices come at lower prices but, due to their limited operation, their growth is halted. On the contrary, new technological developments with an ultra-sensitive and wide range expected to increase the market during the forecast period. Overall, the global market for trace chemical detectors was valued at US$ 1.93 billion in 2018 and is expected to grow at around 6.1% CAGR from 2019 to 2027.

The overall market for trace chemical detectors is slightly fragmented in nature and is growing at a moderate rate. However, technological advancements and the launch of portable detectors have increased their use in recent years.

Industrial Developments

• In November 2019, FLIR® Systems, Inc. launched FLIR Fido® X4, a handheld explosives trace detector. It has higher sensitivity and can detect a broad range of explosives at nanograms to sub-nanogram levels in much less time of 10 seconds only.

• In November 2019, IDenta Corp. announced the launch of its new product – TANKER, an explosives detector, and identification.

• In October 2019, ACS Sensors has published in its article that black silicon-based ultrasensitive detector can detect trace amount of explosives and highly toxic pollutants that found in medical and forensic labs.

Key Market Movements:

• Globally, the trace chemical detector market is growing at a CAGR of 6.1% for the period from 2019 to 2027.
• Based on product type, the trace chemical detector market is segmented into a benchtop and portable TCD. Ease of handling and less expensiveness of portable TCD has high demand in the market.
• Based on the end-use, the security & defense segment captured the major share of the market in 2018 and is expected to retain its growth rate during the forecast period.

List of Companies Covered:

• ABB
• Siemens
• FLIR® Systems, Inc.
• Smiths Detection Group Ltd.
• RIGAKU CORPORATION
• TeknoScan Systems
• AMETEK Inc.
• Rapiscan Systems
• Bruker
• Nuctech Company Limited
• and Others

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Market Segmentation

By Product Type Segment

 • Benchtop TCD

 • Portable TCD

 By Detection Type Segment

 • Explosives & Narcotics

 • Hydrocarbons

 • Composites

 • Metals & Alloys

 • Polymers

 By End-use Segment

 • Security & Defense

 • Oil & Gas

 • Healthcare

 • Chemical & Pharmaceutical

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report

• What was the market size of the trace chemical detector market in 2018 and forecast up to 2027?
• What are the key factors driving the global trace chemical detector market?
• What are the key market trends and high-growth opportunities observed in the trace chemical detector market?
• Which is the largest regional market for the trace chemical detector market?
• Which segment will grow at a faster pace? Why?
• Which region will drive the market growth? Why?
• Which players are leading the trace chemical detector market?
• What are the key strategies adopted by the leading players operating in the market?

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/60165