By 2032, instead of US$ 3.9 billion, the global sorting equipment market is expected to generate US$ 7.5 billion in sales. From 2022 to 2032, the market is anticipated to grow at a CAGR of between 5% and 6%. Sorting equipment refers to industrial machinery that organises and systematically separates goods by grouping them together. This machinery automates the process of categorising and sorting products based on parameters such as structural characteristics, colour, weight, size, chemical composition, and shape. Due to these characteristics, sorting equipment is in higher demand across a variety of industrial verticals, including the food and beverage, chemicals, plastics, and packaging industries, among others.
The sorting equipment market was once estimated at US$ 3.7 billion registering a significant growth rate from 2015 to 2020, billion in 2021. The rapidly growing pharmaceutical industry around the world has a significant impact on the market for sorting equipment. The pharmaceutical industry is expanding rapidly as a result of the rising prevalence of numerous diseases, with many pharmaceutical companies focusing on developing new drugs and expanding their production capabilities.
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Here, the sorting equipment plays a vital role by sorting capsules and tablets according to their weight, size, and shape to maintain quality, accuracy, and efficiency. For instance, in 2021, Glenmark Life Science, a pharmaceutical giant in India, announced an investment of US$ 78.7 million for doubling its drug production capacity in the next four years. Developments like these augur well for the sorting equipment market as these devices ensure accuracy and efficiency during the production process.
Similarly, a rapidly growing food and beverage industry also makes extensive use of the sorting equipment. The usage of sorting equipment reduces the need for labor and fastens up the manufacturing process which is one of the reasons for its application in the food and beverage sector. Thus, with significant contributions from the pharmaceutical and food and beverage industry, the sorting equipment market looks at bright prospects in the upcoming years. Though the sorting equipment market is expected to undergo steady growth, it is not without its share of challenges. The high cost of this equipment and the added cost of extra parts, repair, and maintenance will impede the market growth. The low adoption rate of these machineries by small and medium-sized firms also limits the market growth.
Key Takeaways:
- Asia Pacific excluding Japan region will dominate the global sorting equipment market due to the prevailing Industry 4.0 trend.
- The sorting equipment market in Eastern Europe will account for a sizeable portion of the market share as these machinery are being increasingly adopted by different industrial verticals.
- High cost of the equipment and expansive installation and maintenance of the same hinder market growth.
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Competitive Landscape
Tomra, BarcoVision, Satake USA, MSS Inc., Raytec Vision, BoMill, Greefa, CP Manufacturing, and Meyer, among others, are a few of the dominant players in the sorting equipment market profiled in the full version of the report.
Prominent market players are keen on investing more in research and development efforts to produce novel and innovative products to expand their product portfolio. These businesses focus on launching new products. A few of these participants also employ various organic and inorganic growth strategies. Recently, for example, Glenmark Life Science, a pharmaceutical giant in India, announced an investment of US$ 78.7 million for doubling its drug production capacity in the next four years.
More Insights Into Sorting Equipment Market
In its latest report, FMI offers an unbiased analysis of the global sorting equipment market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. The report delivers a ten-year sales forecast, insightful breakdown of drivers, challenges, opportunities, trends, and segmentation of the market. To generate a complete understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, end-use, and region.
According to reports, based on region, the sorting equipment market in the Asia Pacific excluding Japan region will exhibit substantial growth. The target market in this region will dominate in the international space. Prevailing adoption of Industry 4.0 trends, increasing automation to lessen labor costs, and a rapidly expanding FMCG sector will fuel the growth of the sorting equipment market in the Asia Pacific excluding Japan region. Eastern Europe will also demonstrate notable growth in the sorting equipment market. Thus, the growing adoption of automation, increasing demand from multiple industrial verticals, and the contribution of the Asia Pacific excluding Japan region will drive the growth of the sorting equipment market.
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Key Segments Profiled in the Sorting Equipment Market Survey
By Product Type:
- Freefall Sorter
- Channel Sorter
- Automated Defect Removal (ADR)
- Belt Sorters
- Optical Sorter
By End Use:
- Chemical Industry
- Food Industry
- Pharmaceutical Industry
- Plastic Industry
- Wood Industry
- Agriculture Industry
- Packaging Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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