NEWARK, Del, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The global industrial weighing equipment market is anticipated to secure a valuation of US$ 1.5 billion in 2023 and reach a valuation of US$ 2.4 billion by 2033. The global market is expected to secure a CAGR of 5% during the forecast period.
How is the Global Market Growing?
The global market is experiencing steady growth with several influencing factors:
- Industrial Automation: The rapidly increasing demand for industrial automation in machinery is expanding the adoption of industrial weighing equipment. This equipment improves efficiency and enhances manufacturing processes.
- Regulation Compliance: The increasing regulations towards product safety and quality in various end-use industries, such as food and beverages and pharmaceuticals, drive the global market. These regulations are increasing the adoption of industrial weighing equipment.
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- Technological Advancements: The increasingly rapid advanced technologies, including data analytics, sensor, and the Internet of Things, enable industrial weighing equipment. It offers real-time data monitoring and improves functionality.
- Global Expansion of Industries: The growing expansion of global industries is increasing the demand for industrial weighing equipment.
- E-commerce and Logistics: The growing e-commerce and logistics are increasing the demand for industrial weighing equipment to manage shipping, inventory, and goods.
- Focus on Quality Control: Manufacturers are increasing the adoption of industrial weighing equipment to enhance quality control, consistency, and product quality.
- Promote Sustainability: Several end-use industries are taking initiatives to promote sustainability. These initiatives by them help to optimize resource utilization and minimize waste.
These are a few of the factors that rapidly driving the global market.
Key Takeaways:
- The global market is estimated to capture a valuation of US$ 2.4 billion with a CAGR of 5.0% by 2033.
- In the historical period, the global market captured a CAGR of 4.7% between 2018 and 2022.
- The United States is estimated to dominate the global market by capturing a share of 21.1% by 2033.
- Germany is estimated to register a share of 5.4% in the global market during the forecast period.
- Japan is predicted to secure a share of 6.0% in the global market during the forecast period.
- With a share of 0.9%, Australia is anticipated to drive the global market by 2033.
"Industrial Weighing Equipment plays a pivotal role in optimizing manufacturing processes by providing accurate and efficient measurement solutions for diverse applications. These robust systems, designed to withstand the rigors of industrial environments, contribute to enhanced productivity and quality control across various sectors, from pharmaceuticals to food processing," opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
How Key Players Are Advancing the Global Industrial Weighing Equipment Market?
The number of key players worldwide fragments the global market. These players are developing innovative, unique, and improved products to expand the global market to another level. Key players are adopting various marketing tactics to upsurge global demand, including mergers, acquisitions, collaborations, product launches, and agreements.
Key players are trying to offer high-quality, cost-effective, and flexible products to attract consumers. These players are adopting various marketing methodologies to upsurge the global market, including mergers, collaborations, acquisitions, product launches, and agreements.
Top 10 Key Players in the Industrial Weighing Equipment Market
- Avery Weigh-Tronix
- RADWAG Wagi Elektroniczne
- CI Precision Ltd.
- A&D Weighing
- Atrax Group NZ Ltd
- Thompson Scale Company
- GSH Group
- Bilwinco AS
- D Brash & Sons Ltd
- Sartorius AG Ohaus Corporation
Recent Developments in the Global Industrial Weighing Equipment Market are:
In 2021, A&D Weighing announced its newly launched series GX-M and GF-M. These series are widely used most effectively to protect against dust particles and light washdowns.
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Industrial Weighing Equipment Market by Segmentation:
By Product Type:
- Industrial Checkweighers
- Industrial Counting Scales
- Industrial Floor Scales
- Industrial Rail Scales
- Other Industrial Weighing Equipment
By End Use Industry:
- Chemicals Industry
- Manufacturing Industry
- Mining Industry
- Food & Beverage Industry
- Other Industries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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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