Market synopsis
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.
Market Highlights
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.
Segmentation
The global Digital 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.
Industrial, scientific / laboratory, veterinary, jewellery, food & drinks, health & fitness, industry, education / research, and others are the vertical end-use segments of the market. Due to its widespread use in the export and import of various materials, as well as the measurement of items such as corrosive liquids and gases that require high precision during the manufacturing process, the industrial segment is expected to dominate the electronic weighing scale market during the forecast period. The most common electronic scales used in industrial applications are platform scales, rugged industrial crane scales, and pallet truck scales.
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Regional Assessment
During the forecast period from 2018 to 2023 the global electronic weighing scale market forecast 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.
The Middle East & Africa region is characterized by new developments in automated weighing solutions such as automated precision weighing, incorporating a technology that operates in a fraction of a second within the milligram range. This technology is further integrated with sensors and several communication modules to make weighing faster, more effective and more reliable. Those innovations are driving the region's electronic weighing scale market. A new development in the Middle East & Africa market is the adoption of digital weighing scales with advanced connectivity features.
The need for replacement of old and obsolete measuring equipment with the latest and modern electronic measuring equipment with enhanced product design and speedy output is one of the key factors driving the Latin America electronic weighing scale market. A trend seen in the electronic weighing scale market in Latin America is the adoption of electronic weighing scales for the logistics and shipping operations in lift truck scales.
Key Players
The key players profiled in the electronic weighing scale market research report are Shinko Denshi Co., Ltd (Japan), A&D Company, Limited (US), Tanita Corporation (Japan), Fairbanks Scales (US), Adam Equipment (UK), Essae-Teraoka Pvt. Ltd (India), Mettler Toredo (US), KERN & SOHN GmbH (Germany), Contech Instruments Ltd (India), Cardinal Scale Manufacturing Company (US).
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