Measurement techniques have been of great significance since the start of human civilization. In the 19th century, the industrial revolution brought a rapid development of new measurement techniques and instruments to meet the needs of industrialized production techniques. Because of the constant need to determine the exact weight, the market for electronic weighing scales is expected to grow significantly. The global electronic weighing scale market was valued at $4.85 billion in 2017 and is expected to grow at a CAGR of 4.8% from 2018 to 2026.
Weighing scales are used for determining the mass or weight of a substance. An electronic weighing scale is more durable, compact, and accurate than other conventional scales, such as spring scales or balances, which often wear out and give erroneous readings over a period of time. Electronic weighing scales are commonly used in businesses and industries for segregating and weighing materials accurately for processing sales. The electronic weighing scales work on a microchip and electronic response. As a result, the risk of inaccurate results is minimal compared to analog scales.
Any electronic weighing scale relies on accuracy. The precise measurements provided by the electronic weighing scales drive the demand from various sectors, including healthcare, retail, industrial, etc. Moreover, the advantages of electronic weighing scales, such as ease of handling and compact size, along with easy availability, are likely to drive the adoption of electronic weighing scales, thereby augmenting the market growth. In recent times, demand for electronic weighing scales has significantly increased as measuring weight has become more user-friendly. The rising dependence on these scales in diverse areas like hospitals, pharmacies, labs, supermarkets, kitchens, industries, and factories is growing to a greater extent, thereby enhancing the growth of the electronic weighing scale market during the forecast period from 2018 to 2026.
Market Snapshot
In 2017, tabletop scales generated the most revenue.
On the basis of product type, the global electronic weighing scales market is segmented into crane scales, pallet truck scales, platform scales, precision scales, tabletop scales, and others. In terms of value contribution, tabletop scales dominated the market in 2017. Tabletop scales are electronic weighing scales that are tough and compact. These scales are ideal for use in laboratories, pharmacies, cafes, retail, restaurants, kitchens, offices, etc. Tabletop scales are light in weight, easy to operate, and cost-effective. As a result, the advantages associated with tabletop scales are augmenting their demand in the retail and industrial sectors.
Industrial Vertical Exhibits: Largest Market Share
In 2017, the industrial vertical held the lion's share of the global electronic weighing scales market. The dominance of this segment is largely credited to the industrial sector, which depends on exporting and importing materials, shipments of manufactured goods, corrosive liquids, gases, etc. Electronic weighing scales have become a fixture in daily use within the industrial environment, thereby enhancing their growth in the overall market. It is a fact that the formulation of a substance is entirely dependent on a scale's accuracy. Industrial scales are specifically designed to adapt to the environment and usage conditions. In industrial applications, rugged industrial crane scales, platform scales, pallet truck scales, etc., are widely used.
During the forecast period of 2018 to 2026, Asia Pacific will maintain its dominance.
Based on geography, the electronic weighing scale market was led by Asia Pacific in 2017. The presence of prominent players such as A&D Company Limited, Contech Instruments Limited, The Essay Group, Tanita Corporation, etc., is providing varied business opportunities in the region. Asia Pacific is considered a high-growth market and is projected to remain dominant during the forecast period from 2018 to 2026. The widespread availability of sensors such as load sensors, which are key components of electronic weighing scales, is expected to drive the region's electronic weighing scales market growth prospects.
Competitive Insights
Major players in the electronic weighing scales market include Adam Equipment Co. Ltd., Avery Weigh Tronix Ltd., A&D Company, Limited, Act Pvt. Ltd., Atrax Group NZ, Arlyn Scales, Cardinal Scale Manufacturing Company, Contech Instruments Ltd., D Brash & Sons Ltd., Doran Scales, Inc., Fairbanks Scales, KERN & SOHN GmbH, Mettler-Toledo, LLC, Rice Lake Weighing Systems, Tanita Corporation, The Essay Group, and Weightron Bilanciai among
The global electronic weighing scale market appears to be highly fragmented due to the presence of a large number of international as well as regional players. Product innovation and new product development remain the key strategies adopted by the players in the market. The key players are mainly focusing on implementing new innovation strategies and strengthening their product portfolios to reach potential customers in emerging markets.
For instance, in May 2017, Rice Lake Weighing Systems launched a new series of digital bench scales called BenchPro. The multi-purpose digital bench scales are ideal for many diverse markets and industries worldwide. As a general-purpose scale, BenchPro provides multiple benefits, such as the ability to tare containers, zero, and change units of measure. The BenchPro Series can be useful for many applications, such as point of sale, retail, food service, manufacturing, etc. Each BenchPro digital bench scale comprises a tempered glass, scratch-resistant keypad that withstands accidental drops as well as repels dust, water, and oil.
Periods of History and Forecast
The research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The electronic weighing scales market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global electronic weighing scale market based on product type, end-use vertical, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of electronic weighing scales in 2017, and what is the forecast up to 2026?
What are the key factors driving the global market for electronic weighing scales?
What are the key market trends observed in the electronic weighing scale market?
Which is the largest regional market for electronic weighing scales?
Which are the most promising product type and end-use verticals in the electronic weighing scales market?
Which region or segment will drive the market's growth? Why?
Which players are leading the market for electronic weighing scales?
What are the sustainability strategies adopted by the key players operating in the market?
What are the challenges preventing the growth of the market for electronic weighing scales?
This report's distinct data points
Electronic weighing scale trends across different geographies and sub-geographies
The adoption rate of electronic weighing scales in various end-use verticals
comprehensive mapping of the competitive landscape and the market participants' behavior.
The current and future scenario of electronic weighing scales across the globe
Frequently Asked Questions:
The market for Electronic Weighing Scales Market is expected to reach US$ XX Mn By 2026.
The Electronic Weighing Scales Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Adam Equipment Co. Ltd., Avery Weigh Tronix Ltd., A&D Company, Limited, Act Pvt. Ltd., Atrax Group NZ, Arlyn Scales, Cardinal Scale Manufacturing Company, Contech Instruments Ltd., D Brash & Sons Ltd., Doran Scales, Inc., Fairbanks Scales, KERN & SOHN GmbH, Mettler-Toledo, LLC, Rice Lake Weighing Systems, Tanita Corporation, The Essay Group are some of the major players in the global market.
