By Keira Collin
Markets and Markets released their latest data and forecast for the international ultrasonic cleaning market in 2024. The figures paint a rosy picture of the sector. From industrial ultrasonic cleaner companies to those specializing in ultrasound-based cleaning solutions for the medical field, there’s a lot of positive things to look forward to.
Strong growth
The new research data projects strong numbers based on an analysis covering the period 2019 to 2024. Estimates point to a compound annual growth rate (CAGR) of 6.5%. The industry is currently valued at $1.6 billion and is estimated to expand to $2.2 billion by 2024.
Researchers attribute this growth to the increased demand for specialized cleaning solutions, particularly custom-made ones intended for a variety of applications. Likewise, there is a growing necessity for high-efficiency and environmentally-friendly cleaning products in different parts of the world. Governments and companies are looking for biodegradable cleaning solutions as they take environmental protection and public health into account.
The food & beverage vertical has the biggest CAGR projection, but the automotive, aerospace, medical, and healthcare segments continue to be the most significant component of the ultrasonic cleaning industry. Demand from multinational companies such as Coca-Cola, Pepsi, Natural Alternatives, and Anheuser-Busch help propel growth in the food and drinks ultrasonic cleaning sub-sector.
To keep up with the growth, analysts say that businesses have to adopt some of the leading market trends. In particular, companies will need to rely on automation and the deployment of robots to boost production and efficiency. They are unlikely to meet the rapidly rising demand if they stick with conventional methods.
Market growth by region
The Asia-Pacific (APAC) region accounts for the biggest share in the ultrasonic cleaning market. The North American market is a close second, followed by Europe and RoW (Rest of the World). This will remain the case in the next five years. Projections show that the highest growth is in the APAC region. Growth in the rest of the regional markets appears marginal, but they are still in line with the overall market trends.
The key market players are original equipment manufacturers (OEM), mostly from the United States such as SharperTek, Mettler Electronics Corp., and Cleaning Technologies Group. There are also companies from Asia including Skymen Cleaning Equipment Shenzhen Co., Ltd and Guangdong GT Ultrasonic Co. Some European businesses also play a significant role. These include the Telsonic AG Group and Kemet International Ltd.
While most of the top ultrasonic companies are American, the Asia-Pacific market holds the distinction of having the highest CAGR. This is mainly because of the number of companies operating in the region. They may be relatively small companies, but they outnumber their North American and European counterparts.
The ultrasonic cleaning market is not as large as other sectors. However, it is an essential operation that serves businesses in other industries, including food, medicine and healthcare, automobile, optics, aerospace, electrical and electronics, jewellery, pharmaceuticals, and metal and machinery.
Image: https://pixabay.com/photos/blur-chart-computer-data-finance-1853262/
