GIA announces the release of a comprehensive global report on Industrial Weighing Equipment markets. Global market trends for Industrial Weighing Equipment is projected to reach US$2.3 billion by 2018, driven by technology innovations that enhance reliability and accuracy in measurement readings.
Technology Developments Drive Growth in the Global Industrial Weighing Equipment Market, According to New Report by Global Industry Analysts, Inc.
Weighing equipment plays an important role in industries ranging from Chemicals, Food & Beverage, Manufacturing, Mining, to Transportation. The market is driven by strong demand for weighing solutions that offer ease of use, enhanced reliability, accuracy and speed. Other factors encouraging growth include replacement of old and obsolete equipment, growing trend towards the deployment of automated process equipment and increasing investments in manufacturing and infrastructure.
The 2007-2009 world economic slowdown elicited a sharp decline in demand for industrial weighing equipment as a result of reductions in capital investments in the manufacturing and industrial sector.
Declines in manufacturing and industrial output coupled with tight liquidity conditions forced many customers in various end-use industries to delay their equipment purchases, thus affecting the market’s performance.
The market however recovered in the year 2010 in sync with the resurgence in business confidence.
Technology developments, especially advancements in digital technology, are expected to benefit the industrial weighing equipment market in the coming years. Introduction of digital calibrated weighing machines and advanced weighing machines with features such as automatic loading batteries, is expected to help spur adoption and widen the end-user base in the market.
Unrivalled accuracy and precision offered by modern weighing machines are also helping drive replacements of traditional manual equipment. The large installed base of manual weighing equipment therefore bodes well for the market’s growth.
Floor scales are used as a standard of measurement in most heavy industries. Digital floor scales with enhanced functions are expected to witness strong demand as consumer preferences increasingly shift towards performance parameters like accuracy, speed, durability and reliability. Guided by cost efficiencies, adoption is expected to be high among medium and small scale industries as against the conventional large industries.
As stated by the new market research report on Industrial Weighing Equipment, Europe represents the largest regional market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 6.2% over the analysis period. Growth in the region is led by China, India and Taiwan.
Major players in the market include A&D Weighing, Avery Weigh-Tronix, Bilwinco AS, CI Precision Ltd., Easiweigh Limited, Maguire Products Inc., Mettler-Toledo International Inc., Ohaus Corporation, Sartorius AG and Thompson Scale Company among others.
The research report titled “Industrial Weighing Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and rest of the world.
End-use markets analyzed include Chemical, Food & Beverage, Manufacturing, and Mining, among others. The US and European markets are individually analyzed by product segments that include Floor Scales, Bench Scales, Continuous Weigh Feeders, Check-Weighing Scales, Precision Scales and Others.
About Global Industry Analysts, Inc.
A leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today as one of the world’s largest and reputed market research firms.
Below is the link for the full report.