Market synopsis
The global electronic weighing scale market is expected to grow from USD 3.35 billion in 2017 to USD 4.57 billion by 2023, at a CAGR of 5.54%, during the forecast period.
An Electronic Weighing Scale Market is a device that is used to measure the weight of any object ranging from feather to a loaded tractor-trailer. The electronic weighing scale measures the weight and converts it into electrical form. These measurements in electric form are then processed and displayed on the LCD screen in a decipherable format.The key benefits of electronic weighing scales market include compact size, high accuracy, flexibility of weighing multiple loads, and provision of online processing. Growing industrial automation and rapid deployment of electronic weighing scales in the retail and jewelry outlets drive the growth in the electronic weighing scale market. However, high cost of these macines as compared to the traditional weighing scales can limit the adoption and consequently affect the market growth.
The global electronic weighing scale market has been segmented based on type, end-use vertical, and region.
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By type, the market has been segmented into table top scale, platform scale, precision scale, pocket scale, and others. Table-top scales are expected to dominate the market during the forecast period as they are light in weight, easy to operate, and cost effective.
By end-use vertical, the market has been segmented into industrial, veterinary, scientific/laboratory, jewelry, food & beverages, health & fitness, industrial, education/research, and others. The industrial segment is expected to dominate the electronic weighing scale market during the forecast period owing to their wide use in export and import of different material and measuring of items such as corrosive liquids and gases that require high accuracy during the production process. Rugged industrial crane scales, platform scales, and pallet truck scales are the most prominent electronic scales used for industrial applications.
The key players profiled in the electronic weighing scale market research report are Tanita Corporation (Japan), A&D Company, Limited (US), Fairbanks Scales (US), Adam Equipment (UK), Essae-Teraoka Pvt. Ltd (India), KERN & SOHN GmbH (Germany), Mettler Toredo (US), Contech Instruments Ltd (India), Shinko Denshi Co., Ltd (Japan), Cardinal Scale Manufacturing Company (US).
The major players of the market constantly focus on growth strategies such as partnerships, mergers, acquisitions, and new product development to enhance their product offerings and expand their market. For instance, in 2018, Adam Equipment, Inc. expanded its geographic presence in North America and Latin America and started shipping their health and fitness scale— MCW300L to these regions.
Key players
The prominent players in the electronic weighing scale market are Tanita Corporation (Japan), A&D Company, Limited (US), Fairbanks Scales (US), Adam Equipment (UK), Essae-Teraoka Pvt. Ltd. (India), KERN & SOHN GmbH (Germany), Mettler Toredo (US), Contech Instruments Ltd (India), Shinko Denshi Co., Ltd (Japan), Cardinal Scale Manufacturing Company (US), Doran Scales, Inc. (US), and Avery Weigh Tronix LLC (US).
Segmentation
By type, the market has been segregated into table top scale, platform scale, precision scale, pocket scale, and others
By end-use vertical, the market has been segmented into industrial, veterinary, scientific/laboratory, jewelry, food & beverages, health & fitness, industrial, education/research, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
The global market for electronic weighing scale market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the electronic weighing scale market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America followed by Europe is expected to dominate the electronic weighing scale market from 2018 to 2023 owing to the increasing automation across different industry verticals that demand the use of automated electronic measuring devices for testing and measurement. Furthermore, high concentration of market players in the region and availability of proficient technical expertise propel the demand for electronic weighing scale in the region.
Asia-Pacific is expected to register the fastest growth due to easy availability of low-cost raw material that promotes mass production of low-cost electronic scales. The major countries identified to witness high growth in Asia-Pacific are China, Japan, Australia, and India that are witnessing a wide adoption of electronic gem scales.
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Competitive Analysis
The key players have adopted partnerships and new product launches as a part of their organic growth strategy to further strengthen their market position. For instance, in 2018, Adam Equipment, a provider of professional weighing equipment launched a new compact bench scale —Latitude. It is a light-weight, sleek, and portable scale that can be used for various applications including manufacturing, food processing, catering, packaging, and veterinary.
Intended Audience
- Weighing scales manufacturer
- Potential Investors/Traders
- Distributors
- Wholesalers
- Retailers
- Importers
- Association
- Government bodies
- Market research and consulting firms
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