According to a new market report published by Credence Research, Inc., “Global Electronic Weighing Scales Market (By Product Type (Crane Scales, Pallet Truck Scales, Platform Scales, Precision Scales, Table Top Scales, Others), By End-use Vertical (Healthcare, Industrial, Jewellery, Laboratory, Retail, Vet/Animal, Others)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global electronic weighing scales market is expected to witness a growth of 4.8% CAGR during the forecast period from 2018 to 2026.
The global electronic weighing scales market projected to demonstrate a significant growth, expanding at a CAGR of 4.8% during the forecast period from 2018 to 2026. Electronic weighing scales are measuring instruments used for determining the weight or mass of an object. These scales are used in wide-ranging industrial as well commercial products and applications. Weighing is fundamental to every business, when checking goods in quantifying products for sale or monitoring processes, weight is a vital tool in maintaining quality, controlling costs, and assessing efficiency. Rising need for determining the precise weight of an object is driving the growth prospects of electronic weighing scales market worldwide. The electronic weighing scales are useful for different purposes from measuring ingredients in the kitchen to the precise measurement of substances in a laboratory. Growing dependence on the electronic weighing scales in various application areas supermarkets, kitchens, hospitals, pharmacies, laboratories, etc. is growing at a substantial rate, which, in turn projected to facilitate the market growth throughout the forecast period from 2018 to 2026.
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Based on the product type, the global electronic weighing scales market was led by table top scales in 2017. Table top scales are light, rugged and compact electronic weighing scales. These scales are mainly used in pharmacies, laboratories, cafes, kitchens, and retail applications. Further, based on end-use vertical, industrial sector dominated the electronic weighing scales market and garnered the largest revenue in 2017. The electronic weighing scales have become a fixture in daily use within the industrial environment. Based on geography, Asia Pacific held the largest market share for electronic weighing scales market in 2017. The presence of prominent players such as Contech Instruments Limited, A&D Company Limited, The Essae Group, Tanita Corporation, etc. are providing varied business opportunities in the region.
Major players in the electronic weighing scales market include Adam Equipment Co. Ltd., Avery Weigh Tronix Ltd., A&D Company Limited, Aczet 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 Essae Group, and Weightron Bilanciai among others.
The electronic weighing scales market is fragmented owing to the presence of regional as well as international players. The players are focusing on implementing new innovation strategies and are strengthening their product portfolio to reach potential customers in the emerging markets. New product development and product innovation are amongst the key strategies adopted by the players operating in the market.
For instance, in August 2017, Adam Equipment, one of the leading manufacturer of balances and scales, introduced a NRCS approved PT platform scales. The platform scales are capable of providing a durable weighing solution for several applications in the industrial settings, such as warehouses, shipyards, receiving and shipping docks, distribution centers and recycling facilities.