Belt
Optical sorter market to accrue hefty gains from the food sector, rising proliferation of innovative products to impel the industry growth over 2018-2024
The increasing deployment of sorting machines for improving plant productivity has been propelling optical sorter market share. The shortage of labor and surging need to handle more quantity of products in a less time are a couple of the most prominent causes behind the increasing deployment of sorting machines. In recent years, the optical sorter has emerged as one of the pioneering products to handle grains, pulses, spices, beans, rice, nuts, fruits, vegetables, and plastics. The capability of this device to sort the products based on their shape, color with high efficiency, excellent precision, and performance is poised to expedite optical sorter industry outlook considerably.
Germany optical sorter market, by application, 2017 & 2024 (USD Million)
The commitment of key players in the optical sorter market toward innovation, superior manufacturing, and intelligent design will have a notable influence on future product demand. Recently, the leading food sorter manufacturing company, TOMRA Sorting, Inc., has revealed its plan to launch innovative sorting machines at Pack Expo. TOMRA has been working to resolve customer issues with its new product launches to enhance its customer base. With this recent launch, it seems to have resolved the issues pertaining to the food processing companies that had been struggling earlier to filter out foreign materials like stones, wood, metal, glass, and plastics from vegetables and potato products. The company claims that the newly developed machine will filter 98% of all types of filtering objects. The incidence testifies that the innovative capabilities of the companies to fulfil the customers’ needs with their high standard products is likely to stimulate the optical sorter market share from the food industry over the years ahead.
The advent of next-generation technologies such as the Internet of Things (IoT), and Artificial Intelligence (AI) also has augmented the product development strategies of optical sorter industry contenders. Considering the ease of use of technologically advanced sorting equipment, several end-users have been deploying sorting machines on a large scale. For instance, in the middle of 2018, the UK based waste management company, Viridor has invested nearly 445,000 pounds to upgrade its plastic processing facility with the deployment of the robotic sorter. This robotic sorter can be utilized to purify PET plastics by filtering metals and other kinds of contamination pertaining to the integration of AI-powered vision systems.
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Speaking along similar lines, in order to resolve the issue of the labor shortage, U.S. based Diamond Fruit Growers has recently invested to deploy its first ever optical sorting line specially designed for pears. The Italian company, Unitec has also engineered an optical sorter with the integration of software that can minimize the damage by sorting out fruits based on their grade and size without scuffing. The use of such machines to handle a plenitude of products at the food processing facilities will help companies to handle more volume with less labor. Continuous investments in technology by prominent end-users to handle a large volume at a time is likely to propel optical sorter market trends.
In addition to food processing, the mining sector is a pivotal revenue generating ground for optical sorter market players that have been incorporating new features into existing models. They have also been enhancing the design features of the products to improve its wear-resisting capability and ease of maintenance. Taking into account the extended life cycle of the products, most of the mineral and metal ore extraction industries have been deploying modern optical sorters on a large scale which will have a positive influence on the market growth. For the record, in 2017, the mining industry held a 15% share of the optical sorter market.
Growing availability of highly advanced product ranges will propel the optical sorter industry outlook over the years ahead. In addition, increasing awareness among the end users about the cost-effective returns obtained from the automated processes at the workplace will also have a notable influence on the product demand. For the record, by the end of 2024, optical sorter market will surpass revenue collection of USD 3 billion.
Author Name :Sunil Hebbalkar
North America automotive aftermarket to accumulate substantial proceeds, global industry valuation to cross a humongous USD 1,420 billion by 2024
The changing preferences of consumers toward the comfort, appearance, & performance of vehicles has fueled automotive aftermarket to quite an admirable extent. As customers focus toward leading a luxurious lifestyle, complete with personalized vehicles for commuting in style, courtesy – increasing disposable incomes, automotive aftermarket is likely to witness lucrative gains in the years to come.
The subsequent wear and tear of existing automobiles will quite overtly lead to car owners wanting to replace old parts, enhance the vehicle’s appearance, and replace the car’s internal components for improved efficiency and safety. Eventually, this would propel the demand for state-of-the-art aftermarket parts, augmenting the commercialization landscape of automotive aftermarket.
U.S. Automotive Aftermarket, By Sales Outlet, 2017 & 2024, (USD Billion)
The ever expanding automotive sector is one of the most crucial drivers of the global automotive aftermarket. Over the last couple of decades, the demand for automobiles has only skyrocketed across the developed and developing economies. According to estimates by OICA, LCVs and passenger cars accounted for a sales figure of close to 86 million units in the year 2017 – apparently an upsurge of 2.4% when compared to the previous year. As the sales of commutable vehicles continue to increase and the demand for afterparts experiences an uptick, the remuneration portfolio of automotive aftermarket will undergo a significant change, as per experts.
Another trend that has lately made its presence felt in automotive aftermarket is the rising deployment of eco-friendly techniques in automotive manufacturing. Driven by a stringent regulatory landscape pertaining to environmental safety and the concerns stemming from rising carbon emissions, the demand for sustainable, alternative automobile parts has considerably increased, thereby driving the global automotive aftermarket share.
Unveiling North America automotive aftermarket trends over 2018-2024
North America, primarily driven by the United States and Canada, has been one of the most significant growth grounds for the global automotive aftermarket, which principally can be attributed to the expanding automotive industry in the region. The continent has been a witness to an upsurge in the production of new vehicles and the enhancement of older ones. Furthermore, the region is a powerhouse of technological advancements in automobile production and upgradation, which is likely to generate novel opportunities for aftermarket companies in the years to come.
North America is also remnant of a consumer base that demands increasing vehicle personalization, Bluetooth connection, digitization, and other interesting automotive electronics. The incorporation of advanced accessories is thus likely to drive North America automotive aftermarket. Incidentally, the region accounted for 30% of the overall automotive aftermarket share in the year 2017.
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Another pivotal factor likely to drive North America automotive aftermarket over the forecast period is the improved fuel economy that would quite overtly, augment the average miles that the customer drives, which would lead to increased wear and tear in vehicle parts. This would eventually fuel the requirement for aftermarket spare parts in the continent, stimulating North America automotive aftermarket industry trends.
Technological advancements have indeed had a major impact on the overall automotive aftermarket in the last half a decade. The surging demand for electrification and installation of software has been touted to generate novel avenues for aftermarket workshops and suppliers. The popularity of ADAS, infotainment systems, and telematics will also serve to augment the demand for technologically developed parts, that would help stimulate automotive aftermarket industry growth in the years to come.
Some of the most noteworthy players in automotive aftermarket fall along the likes of the 3M Company, Akebono Brake Corporation, Delphi, Denso, Continental AG, Robert Bosch GmbH, ACDelco, ASIMCO Technologies ltd., Federal-Mogul, Magneti Marelli, and more. In a bid to expand their reach across myriad geographies, these leading contenders have been rather proactive in adopting business growth tactics such as strategic collaborations. Citing an instance of the same, nearly a couple of years back, industry player Faurecia inked its third JV with its partners in Iran with an intention to consolidate its presence in the regional automotive aftermarket.
Author Name :Saipriya Iyer
Global Market Insights Inc. 