The industrial counters market size has the potential to grow by USD 179.08 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (food and beverage, healthcare, semiconductor and electronics, and industrial manufacturing) and geography (APAC, Europe, North America, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Eaton Corporation Plc, Hengstler GmbH, Littelfuse Inc., Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., Pepperl+Fuchs AG, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG.
Market Overview
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Market Competitive Analysis
The market is fragmented due to the presence of various large and small players. Limited product differentiation is one of the challenges for the vendors. However, several players are providing some additional features to differentiate their product offering from the competitors and sustain in the electric counters market. Eaton Corporation Plc, Hengstler GmbH, and Littelfuse Inc. are some of the major market participants. Although the increase of precision control in the healthcare sector will offer immense growth opportunities, the data inaccuracy during operation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this industrial counters market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this industrial counters market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Eaton Corporation Plc
- Hengstler GmbH
- Littelfuse Inc.
- Mitsubishi Electric Corp.
- OMRON Corp.
- Panasonic Corp.
- Pepperl+Fuchs AG
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
Industrial Counters Market: Segmentation by Geography
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APAC was the largest industrial counters market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing demand for industrial counters in the food and beverage industry in Europe is due to the enactment of the Comprehensive Economic and Trade Agreement (CETA) between EU and Canada will significantly drive industrial counters market growth in this region over the forecast period.
38% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for industrial counters in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Industrial Counters Market: Segmentation by End-user
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Industrial counters form an indispensable part of the food and beverage industry, wherein they are used for counting function for a range of products such as raw materials, semi-finished goods, finished products, and packaging materials. The food and beverage industry is characterized by a considerable amount of material handling for which proper count is required. This calls for industrial counters, which accurately measure product count.
This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial counters market size.
Industrial Counters Market: Key Drivers and Trends
High accuracy and precision control are the key factors for sales to happen in the healthcare industry. With the increase in demand for high quality and safe products, there is a growing focus on quality control and assurance. Technavio’s market study identifies the increased focus on precision control in the healthcare sector as one of the primary growth factors for the industrial counters market. There is a growth in the adoption of airborne particle counters in environmental monitoring of pharmaceutical, biopharmaceutical, and radiopharmaceutical facilities. The market in Asia and Africa is experiencing an increase in demand for healthcare amenities as these regions lack basic healthcare amenities. The focus of this market is more in Africa due to the prevalence of various diseases such as HIV, malaria, cancer, diabetes, and others.
The emergence of LED counters is identified to be one of the key industrial counters market trends. Due to the ease in reading, accessibility, easy installation, and low maintenance requirement, light-emitting diode (LED) counters are gaining popularity in the industrial counters market. Several vendors are providing offerings such as different color and visual variations for LED display, counters that can retain count value even in the event of a power failure, counters that display multiple values, and counters with the provision for remote control. These factors are increasing the demand for the industrial counters market.
Industrial Counters Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive industrial counters market growth during the next five years
- Precise estimation of the industrial counters market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial counters industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial counters market vendors
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