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Belt Scales Market Expansion to be Persistent During 2018 to 2027 | Key Players are Covey Weigh LLC, Thayer Scales Inc., Tecnetics Industries Inc., etc.
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A gradual surge in the industrial and manufacturing production, coupled with the growing demand for food upheld the growth of the belt scales market during the 2013-2018 period with the market registering a steady growth at 2.6%. In 2018, the belt scales market was valued at over US$ 930 million and is likely to witness consistent growth at 3.3% CAGR during 2019-2027.
South Asia and Oceania are expected to emerge as the fastest growing market for belt scales with mounting demand for conveyor belt scale systems in the booming industries and mining sectors of developing economies in the region. Low operating costs, precision weighing mechanism, increased throughput, and high efficiency are making conveyor belt scales increasingly popular in the mining industry. Numerous companies are replacing conventional weighing mechanisms with conveyor belt scales to gain a competitive edge in the mining industry. Innovative integrations being made to the conventional belt scale systems are providing additional value for industry-specific usage, a pervasive trend driving widespread adoption of belt scales in industries that are seeking cost-effective, precise, and efficient weighing solutions to boost throughput.
Rapid industrial growth and demand for bulk material handling and weighing is creating a demand for assembly line setup to boost throughput and reduce overhead costs, a trend which is likely to cause a surge in the demand for conveyor belt scale systems across industries.
Advancements in Industrial Internet of Things (IIoT) is allowing end-use industries to optimize belt scale performance, reduce downtime, increase throughput, collect data, and automate industrial processes through continuous remote monitoring. The greater control over operations is, in turn, encouraging the adoption of belt scale systems in an assortment of industrial sectors.
Development of portable cleaning solutions for conveyor belt scale systems is likely to drive the demand in the food and beverages industries with stringent government regulations prompting companies to focus on the quality of the production environment.
Leading players operating in the belt scale market include Covey Weigh LLC, Thayer Scales Inc., Tecnetics Industries, Inc., Saimo Technology Pty Ltd, and Yamato Weighing & Information Technology. Other players operating in the belt scales market include Siemens AG, Rice Lake Weighing System, FLSmidth & Co A/S, Merrick Industries, and Schenck Process.
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While belt scale systems find applications in an array of end-use industries such as food & beverages, cement, steel, energy & power, and logistics, demand for conveyor belt scale systems is surging in the mining industry. Mining industry relies heavily on weighing of material which is a key aspect for evaluating profitability. The conventional weighing systems lack the accuracy to precisely weigh bulk material and single scale used conventionally substantially reduces throughput and production. Conveyor belt scale systems using perceptive electronic components for measuring weights are providing mining companies with an efficient alternative to the conventional weighing systems. Additionally, the system does not require constant loading and unloading of materials for weighing which enables companies to save both time and costs.
In addition to this, belt scale systems are available in single idler and multi idler models and companies can also choose between light, moderate, and heavy models depending on the amount of weight to be measured.
Research Methodology
An elaborate and robust method was employed to extract invaluable information about the belt scales market. A two-step research process involving primary and secondary researches was used to obtain actionable insights into the belt scales market.
Interviewing experts from the belt scales market formed the basis of the primary research while secondary research was conducted by thoroughly studying belt scales market trade journals, paid sources, and other publications related to the belt scales market. Results from both steps of the research were cross-referenced with each other to produce an authentic and accurate forecast of the belt scales market.
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