DUBAI, United Arab Emirates: , Oct. 09, 2022 (GLOBE NEWSWIRE) -- The global electronic weighing scale market is projected to reach a value of US$ 8,084.9 Mn by 2032, with the market growing at a moderate CAGR of 5.4% from 2022 to 2032. Predicted to reach an estimated US$ 4,775.3 Mn in 2022, the electronic weighing scale market is fueled by the ease and convenience of measuring multiple units through the device. An imperative need to maintain precision coupled with growing economic activities and technological progress in laboratory scales and balances will further augment the demand for electronic weighing scales in the global market during the forecast period.
With the integration of the Internet of Things (IoT) into weighing scales as well as several other product innovations, the electronic weighing scale market is set to witness a surge in its global demand. Furthermore, the introduction of water-proof electronic weighing machines with backlit LCD and titanium platforms is presenting the target market with multiple growth-inducing opportunities.
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An electronic weighing scale is one of the crucial machine in retail shops because of its suitable signal conditioners, fundamental load cell, and output recorders/indicators. These scales are precise, highly reliable, portable, durable, and provide easy calibrating features which multiplies the demand for these weighing scales in retail stores. In addition to this, a large portion of consumers favor products that come with various certificates, like the National Institute of Standards & Technology (NIST) certificates, while buying different goods. This, coupled with rising commercial activities are one of the prominent growth drivers of the electronic weighing scale market.
The target product also finds mass application in the healthcare sector. Different industry verticals are rapidly automating the process of testing and measurement of materials which is expected to propel the market growth. Again, there has been a considerable rise in the adoption of table top version of the machine for veterinary applications. All of these considerations are likely to spur the demand for electronic weighing scales during the projected period.
“Introduction of technologically advanced machines couples with swelling demand from the retail sector will propel the market growth of the electronic weighing scale over the forecast period,” says an FMI analyst.
Key Takeaways:
- Introduction of innovative features into these products will strengthen the market prospects.
- Need for steady and constant electricity dampens the market growth.
- North America holds about 35.2% of the electronic weighing scale market revenue share.
- Europe accounts for 21.8% of the revenue of the target market.
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More Insights into Electronic Weighing Scale Market Report
In its latest report, FMI offers an unbiased analysis of the global electronic weighing scale market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of application (electronic weighing scale, electronic industrial counting scale, electronic retail printer scale, electronic weighing balance), class (class I, class II, class IIIL, class III), scale (table top, personnel, electronic crane, electronic platform, pocket electronic, table electronic), and region.
According to the latest FMI reports, based on region, the electronic weighing scale market in North America is projected to undergo notable market growth during 2022-2032. Accounting for a revenue share of 35.2%, the electronic weighing scale market in this region is driven by the presence of a vast pharmaceutical sector as well as by rapid advancement in the weighing scale technology. Europe’s electronic weighing scale market, too, is expected to show substantial growth, holding about 21.8% of the revenue share. Introduction of self-weighing machines integrated with barcodes and receipt printers along with improvements in the transportation and logistics sector propels the market growth in this region during the forecast period.
Competitive Landscape
Contech Instruments Ltd., Aczet Pvt. Ltd., Essae Group, A&D Weighing Inc., Adam Equipment Inc., ATRAX Group NZ Ltd., Avery Weigh-Tronix Ltd., D. Brash & Sons Ltd., Easiweigh Ltd., Yes Technologies, Truweigh LLC, Kern & Sohn GmbH, Fairbanks Scales Inc., Rice Lake Weighing Systems, BONSO Electronics International Inc., Shimadzu Corporation, Sartorius Group, etc., among others are some of the major players in the electronic weighing scale market profiled in the full version of the report.
Leading market players are focusing on incorporating new options into their products and releasing new products into the market. These businesses are adopting innovative tactics and increasing their amount of product releases to strengthen their market positions.
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Key Segments Profiled in the Electronic Weighing Scale Market Survey
By Application:
- Electronic Weighing Scale
- Electronic Industrial Counting Scale
- Electronic Retail Printer Scale
- Electronic Weighing Balance
By Class:
- Class I
- Class II
- Class III
- Class IIIL
- Class IIII
By Scale:
- Table Top
- Personnel
- Electronic Crane
- Electronic Platform
- Pocket Electronic
- Table Electronic
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Table of Content :
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
TOC continued..!
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