The industrial counter market’s trajectory is poised for significant growth, propelled by the ongoing industrial automation wave and the imperative for precision in monitoring and controlling manufacturing processes.
NEWARK, Del, Oct. 06, 2023 (GLOBE NEWSWIRE) — According to a Future Market Insights (FMI) report, the global industrial counter market witnessed a moderate CAGR of 5.7% in the historical period between 2018 and 2022. The global industrial counter market is anticipated to surge to US$ 1560.0 Million by 2033. It is estimated to record a steady CAGR of 4.1% in the review period 2023 to 2033. It is likely to register US$ 1042.4 Million in 2023.
The industrial counter market is the industry that yields devices used to count several para counters in industrial procedures. These counters are essential components of automation, control, and measurement systems. They are used in various applications, including manufacturing, production, and process control.
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The Industrial counter is being progressively integrated into automation systems, which is vital in industrial automation. Industrial Internet of Things (IIoT) integration enables real-time data monitoring. High precision and precise control are key to sales in the pharmaceutical and healthcare sectors.
With the growing demand for safe, high-quality goods, quality control and assurance are increasingly emphasized. Rising emphasis on precision control in the healthcare sector is a critical growth aspect for the industrial counter industry. The application of airborne particle counters is growing in the ecological monitoring of pharmaceutical, biopharmaceutical, and radiopharmaceutical facilities.
The emergence of the smart industrial counter is a key trend in the target market. Due to their ease of reading, convenience, ease of installation, and low maintenance requirements, light-emitting diode counters are becoming popular in the industrial counter market. Some suppliers offer services such as diverse colors and visual variations for LED displays, counters that can maintain count values even during a power failure and counters that display several values.
Key Takeaways from the Industrial Counter Market Report:
- The United States industrial counter industry is projected to reach US$ 283.5 Million in the forecast period.
- The United Kingdom industrial counter industry is set to be valued at US$ 57.1 Million by 2033.
- China’s industrial counter industry is likely to total US$ 242.9 Million by 2033.
- Japan industrial counter industry is estimated to register US$ 178.1 Million by 2033.
- Based on end-use, the food and beverages segment is set to witness a CAGR of 3.8% from 2023 to 2033.
“Industrial counter is an integral part of the food and beverage business, where they are used to count a variety of products such as semi-finished products, raw materials, finished products, and packaging materials. The food sector is categorized by a significant sum of material handling for which appropriate measurement is necessary. This requires industrial counter that can accurately amount product quantities.” – Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
Leading companies in the industrial counter industry are introducing new and innovative goods to meet the growing demand. Worldwide companies are inflowing new markets in developing regions to expand their customer base and increase their presence. Suppliers and manufacturers likewise adopt several strategies, including joint ventures, acquisitions, mergers, new product development, and geographic expansion.
For instance,
- 2019 Spectris acquired Red Lion Controls, a networking solutions and industrial automation benefactor.
- In 2018, Azbil Corporation acquired LUM Technologies, a German provider of non-invasive online analysis tools.
- In 2021, Honeywell acquired Sparta Systems, a provider of cloud-based software solutions for life sciences.
- In 2019, TASI Group acquired ONICON Measurement Solutions, which delivers energy and flow measurement systems.
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Key Companies Profiled in Industrial Counter Market Report:
- Eaton Corporation PLC
- Fargo Controls, Inc.
- Hengstler GmbH
- Littelfuse, Inc.
Get More Valuable Insights into the Industrial Counter Industry Report:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global industrial counter market, presenting historical demand data (2018 to 2022) and forecast statistics from 2023 to 2033.
The study incorporates compelling insights on the industrial counter industry based on type (preset counters, electromagnetic counters, time counters, totalizing counters, mechanical counters and digital counters), end-use (food & beverage, healthcare, semiconductor & electronics, industrial manufacturing) across several regions.
Industrial Counter Market Segmentation Analysis:
Type:
- Preset Counters
- Electromagnetic Counters
- Time Counters
- Totalizing Counters
- Mechanical Counters
- Digital Counters
End-use:
- Food & Beverage
- Healthcare
- Semiconductor & Electronics
- Industrial Manufacturing
Regions:
- North America
- Latin America
- East Asia
- South Asia Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
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About the Industrial Automation Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the industrial automation team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs.
With a repertoire of over 1,000 reports and one Million+ data points, the team has analyzed the industrial automation industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Originally published at https://www.einpresswire.com/article/660097624/steady-expansion-forecasted-industrial-counter-market-to-maintain-4-1-cagr-through-2033-reaching-valuation-of-us-1560-0-million-fmi
