An electronic weighing scale is a device which is primarily used for measuring the weight of the object ranging from the feather to an over loaded tractor-trailer. The electronic weighing scale further measures the overall weight and converts it into the electrical form. Moreover, such measurements over the electric form are then processed and displayed over the LCD screen in a much decipherable format.
Some of the key benefits of electronic weighing scales also includes the compact size, high accuracy, flexibility of weighing the multiple loads, and provision of the online processing. The growing dependence over the electronic weighing scales associated to various application areas such as supermarkets, kitchens, hospitals, pharmacies, laboratories, etc. have led to rise over a substantial rate and in turn projected to further facilitate the market growth over the forecast period.
According to study, “Global Electronic Weighing Scales Market to reach USD 7.27 Billion by 2026” the key companies operating in the global electronic weighing scales market are Tanita, KERN & SOHN GmbH, A&D Engineering, Contech Instruments Ltd., Fairbanks Scales, Mettler Toredo, Adam Equipment, Rice Lake Weighing Systems, Essae group, Avery Weigh Tronix LLC. The players have started focusing for implementing new innovation strategies to strengthen the product portfolio for reaching the potential customers in the ever emerging markets.
Based on type, electronic weighing scales market is bifurcated as platform scale, precision scale, crane scale, table top scale, pallet truck scales and others (personnel scales and pocket scales). Table-top scales segment dominates the market as they are light in weight, cost effective and easy to operate. In addition, based on end-use vertical, market is bifurcated as industrial, scientific/laboratory, veterinary, jewelry, food & beverages, industrial, education/research, health & fitness, and others. The industrial segment is anticipated to witness higher growth rate during the forecast period owing to their wide use in import and export of different material and measuring of items for instance corrosive liquids and gases that require high accuracy during the production process.
The electronic weighing scales market is driven by rapid deployment of electronic weighing scales in the retail and jewelry outlets, followed by growth in industrial automation and rise in need for determining the precise weight of an object. However, compliance of strict regulation regarding approval of electronic weighing scales growth may impact the market. Moreover, increase in technological advancement is a key opportunity for market.
Based on geography, the Asian-Pacific region accounts for the largest share in the global electronic weighing scale market owing to rise in demand of electronic weighing scales from end-use sector such as retail and industrial sector in the region. Whereas, the North-American and European regions are anticipated to illustrates higher CAGR due to increase in automation across different industry verticals over the forecast period. In upcoming years, it is estimated that future of the market will be optimistic caused by high concentration of market players in the region and growth in availability of proficient technical expertise during the forecast period. Global Electronic Weighing Scales market is valued approximately USD 5.07 Billion in 2018 and is anticipated to grow with a growth rate of more than 4.60% over the forecast period 2019-2026.
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Ankur Gupta, Head Marketing & Communications