Industrial Weighing Equipment Market Headed for Growth and Global Expansion by 2020
On the basis of end use industry, industrial weighing equipment market can be segmented into chemicals, manufacturing, mining, food and beverages industry and other industries. Manufacturing industry is expected to lead the industrial weighing equipment market with a CAGR in range of 3% - 6%. Advancement in weighing machine technology with features such as automatic loading battery and entrance of digital calibrated weighing machines in the industrial market is expected to amplify the end user industry.Resource Conservation and Recovery Act (RCRA)is also expected to drive the demand of industrial weighing equipment market in waste management industry.
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Industrial weighing equipment market is geographically segmented into seven key regions which are, North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. Asia-Pacific is anticipated to be the fastest growing industrial weighing equipment market with a CAGR expected to be between 4% - 7% of 5.9% during the forecasted years. Growth in the demand of reliable weighing technology accompanied by robust industrial activity and gradually increasing economies are the key drivers for Asia- Pacific industrial weighing equipment market.Development in quality weighing product creates replacement demand hence enhancing thedemand for industrial weighing equipment market.
Increase in investment in manufacturing infrastructure coupled with automated process equipment deployment is the trend positively impacting the growth of industrial weighing equipment market. Current trends in the industrial weighing equipment market include shift from manual weighing machines to advanced weighing machines, rise in demand weighing equipment that offer ease of use, increased accuracy, speed and reliability.
Future growth of industrial weighing market is expected to be driven by demand of equipment with higher precision and accuracy, and ability of advance technology to reduce labour use. Rise in the replacement of manual weighing equipment installed at larger base increases the demand of automated industrial weighing equipment market. Lighter and portable designs of the weighing equipment is the new demand of the market. Expansion in logistic and shipping operation in various countries demand for lift truck scales.
Key players in the global industrial weighing equipment market include Avery Weigh-Tronix , RADWAG WagiElektroniczne, CI Precision Ltd., A&D Weighing,Atrax Group NZ Ltd, Avery Weigh-Tronix.Thompson Scale Company , Easiweigh Limited, Bilwinco AS, D Brash &Sons Ltd, Sartorius AG Ohaus Corporation, Maguire Products Inc.,and Mettler Toledo International Inc.
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Industrial weighing equipment market is expected to show a significant growth globally with a double digit CAGR during the forecasted years. Advancement in technology and demand of more accurate and easy to use equipment is anticipated to drive the industrial weighing equipment market.
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