Global Optical Sorting Equipment Market to Experience Two-Fold Growth by 2034, Reaching USD 5.89 Billion

Posted  by GoPhotonics

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Fact.MR, a trusted market research firm, published a report on, the "Optical Sorting Equipment Market". According to the report, 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 US $5.89 billion 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.

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.

Key Takeaways from the 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 

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.

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).

Click here to read the report titled, 'Optical Sorting Equipment Market'.
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