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Electronic Weighing Scale Market Research Report- Forecast till 2027
Market Highlights
During the forecast period from 2018 to 2023 the global market for electronic weighing scale is estimated to grow at a significant rate. The electronic weighing scale market geographic analysis is done for North America, Europe, Asia-Pacific and the rest of the world.
From 2018 to 2023, North America followed by Europe is expected to dominate the electronic weighing scale market due to the growing automation across various industry verticals that involve the use of automated electronic measuring devices for testing and measuring. In addition, high concentration of market players in the region and the availability of competent technical expertise propel the region’s demand for an electronic weighing scale.
Due to the easy availability of low-cost raw material which promotes mass production of low-cost electronic scales, Asia-Pacific is expected to record the fastest growth. The main countries identified for high growth in the Asia-Pacific region are China, Japan, Australia and India, which are witnessing widespread adoption of electronic gems.
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The increasing industrial automation and rapid deployment of electronic weighing scales are likely to drive growth in the electronic weighing scale industry, mainly in retail and jewellery outlets. However, compared to traditional weighing scales, the high cost of these scales restrains growth in the electronic weighing scale market.
The global electronic weighing scale market is slated to rise from USD 3.35 billion in 2017 to USD 4.57 Billion by 2023, at a CAGR of 5.54%, over the review period.
Segmentation:
The global electronic weighing scale market has been analyzed based on end-use vertical, type, and region.
Based on the type, the market has been segmented into table top scale, precision scale, platform scale, pocket scale, and others. During the forecast period, table-top scales are expected to dominate the market, as they are light in weight, easy to use and cost effective.
The market has been segmented into industrial, scientific / laboratory, veterinary, jewellery, food & beverages, health & fitness, industry, education / research, and others by vertical end-use. The industrial segment is slated to dominate the electronic weighing scale market during the forecast period due to its wide use in the export and import of various materials and the measurement of items such as corrosive liquids and gases which require high precision during the production process. Platform scales, rugged industrial crane scales, and pallet truck scales are the major electronic scales used for industrial applications.
Competitive Analysis
The global Electronic Weighing Scale Market is characterized by the presence of several regional and local providers. Some of the key players in the market are SICK AG (Germany), Petasense (US), Allegro MicroSystems, Inc.(US), Robert Bosch GmbH (Germany), NXP Semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), Sensoronix, Inc. (US), TE Connectivity, Inc.(Switzerland), SPECTEC (Canada), Sensor Solutions Corporation (US), ABB (Switzerland), Rockwell Automation, Inc. (US), STMicroelectronics (Switzerland), Pepperl+Fuchs (Germany) and Schneider Electric (France).
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Electronic Weighing Scale Market Research Report, by Type (Table Top Scale, Platform Scale, Precision Scale, Pocket Scale), by End-Use Vertical (Industrial, Veterinary, Scientific/Laboratory, Jewelry, Food & Beverages, Health & Fitness, Industrial, Education) – Forecast till 2027
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