Global Contraband Detectors Market to Reach $7.5 Billion by 2030
The global market for Contraband Detectors estimated at US$4.9 Billion in the year 2023, is expected to reach US$7.5 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2023-2030. X-ray Imaging Technology, one of the segments analyzed in the report, is expected to record a 6.1% CAGR and reach US$2.8 Billion by the end of the analysis period. Growth in the Metal Detection Technology segment is estimated at 6.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 9.1% CAGR
The Contraband Detectors market in the U.S. is estimated at US$1.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 9.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 5.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2030.
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