The global market for Industrial Weighing Equipment is projected to reach US$3.4 billion by 2024, driven by robust manufacturing activity in developing markets and growing popularity of digital platform weighing scales.
Weighing equipment continues to play a critical role in various sectors and promises to efficiently and effectively address myriad applications in a wide range of industries. Weighing scales are ubiquitous wherever there is a need for quantification of goods from raw material stage to distribution of finished products. Weighing scales can weigh loads from few grams up to several thousand kilograms within a facility or at a site depending upon specific requirements. Weighing equipment finds application in a diverse array of industries, particularly in industrial production, warehouses, and shipping, for quantification of goods entering or leaving a factory. Market fortunes are largely tied to the general health of the economy and production levels in industries such as transportation, chemicals, food and beverage, and shipping/logistics.
Industrial Weighing Equipment has undergone significant design changes with the availability of electronic and hydraulic load cells. Until recently, weighing machines were operated manually for measuring weights. Advancements in digital technology led to the introduction of digital calibrated weighing machines, which offers enhanced features over manual weighing machines. These advanced weighing machines feature automatic loading batteries, battery indicators, counting buttons, and switch on and off buttons. Modern weighing machines offer high precision and accuracy, when compared to the conventional weighing equipment. As a result, modern weighing equipment is witnessing high importance in current business scenarios, which are used in a number of applications ranging over healthcare, diaries, and jewelry shops to offices and households. Automation in weighing machines led to improved efficiency, high accuracy as well as reduced costs. The application of load cells increased rapidly in many industrial applications including scales. With the advent of electronic technology, load cell has emerged as an integral part of weighing system. Further, the inclusion of interface technology to weighing machines enabled the scales to remain connected through the LAN and Ethernet. Technological developments over the years also brought significant improvements in areas such as performance, size and reliability.
Mature industrialized countries in Europe and the U.S., as well as fast growing markets in Asia-Pacific contribute to the bulk of revenues, fueled by healthy replacement demand and the move towards automation and modernization of production processes, respectively in key end-use sectors. Asia-Pacific represents the largest market worldwide, followed by Europe. The region is also forecast to witness the fastest growth with a CAGR of 8.2% over the analysis period. Emerging economies such as China, India, and Brazil provide the growth momentum for the market driven by relatively stronger economic growth, coupled with the increase in industrial development activity which drives the need for weighing scales. Rising labor costs in these regions is leading to industries embracing automation and modernization of equipment, leading to a large market for Industrial Weighing Equipment. Additionally, industrial activity in the region mostly consists of Greenfield ventures, leading to adoption of technologically advanced equipment.
Major players in the market include A&D Weighing, ATRAX Group NZ Ltd., Avery Weigh-Tronix, LLC, Bilwinco AS, CI Precision Ltd., D Brash & Sons, Ltd., Easiweigh Limited, Fairbanks Scales, Inc., Maguire Products, Inc., Mettler-Toledo International, Inc., Minebea Intec, OHAUS CORPORATION, RADWAG Wagi Elektroniczne, Thompson Scale Company, and Walz Scale among others.