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Industrial Weighing Equipment Global Market Overview, Driving Factors, Future Trends, Key Players and Growth Opportunities And Forecast By 2033
Industrial Weighing Equipment Global Market
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According to The Business Research Company's, The industrial weighing equipment market size has grown strongly in recent years. It will grow from $2.18 billion in 2023 to $2.31 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to energy efficiency, ergonomics and user-friendly design, efficiency and productivity enhancement, increased manufacturing sector, quality control and compliance.
The industrial weighing equipment market size is expected to see strong growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to industry 4.0 adoption, rising automation in industries, stringent quality standards, e-commerce and logistics growth, sustainability focus, globalization and market expansion. Major trends in the forecast period include safety and ergonomics, customization and adaptability, integration with data analytics, sustainability and efficiency.
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Market Drivers and Trends:
Rapid growth of industry 4.0 is expected to propel the growth of the industrial weighing equipment market going forward. Industry 4.0, also known as the fourth industrial revolution, refers to the ongoing transformation of traditional manufacturing and industrial practices with modern smart technology. Industrial weighing equipment contributes to seamless communication between machines, allowing for automated adjustments based on precise weight measurements. For instance, in October 2022, an article was published by the IoT Business News, a France-based news platform focused on IoT news and updates according to which, Industry 4.0 is in full swing in 2022, public search interest has risen 140 times since before, 50,000 research papers were published on the topic in 2021, start-ups are now receiving a total of $3 billion in funding each year from Q3 2021 to Q3 2022 and M&A activity has doubled. Therefore, rapid growth of industry 4.0 is driving the industrial weighing equipment market.
Introducing innovative features is a key trend gaining popularity in the industrial weighing equipment market. Major players operating in the industrial weighing equipment market are developing products with more and more innovative features for providing industrial weighing equipment services. For instance, in August 2023, Ishida Europe, a UK-based provider of weighing, quality control and packaging equipment launched two new weighers into their sector solutions range. The new tools are cost effective and high performance solutions that include new heavy duty components and hard wearing PU liners that allow the weighers to withstand high amount of impact and abrasive product flow while maintaining speed and accuracy. This new solution helps manufacturers to maximize the speed and efficiency of their packing operations.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
A&D Weighing, Easiweigh Ltd., Bilwinco AS, CI Precision Ltd., Mettler-Toledo International Inc., Maguire Products Inc., Avery Weigh-Tronix LLC, Minebea Intec GmbH, Fairbanks Scales Inc., OHAUS Corporation, ATRAX Group NZ Ltd., Thompson Scale Company, D Brash & Sons Ltd., Autoweigh Services Pvt. Ltd., KERN & SOHN GmbH, Rice Lake Weighing Systems India Ltd., Flintec Group AB, Vishay Precision Group, Yamato Scale Co. Ltd., B-TEK Scales LLC, Cardinal Scale Manufacturing Company, Dini Argeo S.r.l., Doran Scales Inc., Emery Winslow Scale Company, Keli Electric Manufacturing (Ningbo) Co. Ltd., LCM Systems Ltd., Novatech Measurements Limited, Precia Molen India Pvt. Ltd., Radwag Balances and Scales, Sartorius AG
Industrial Weighing Equipment Market 2024 Key Insights:
• The industrial weighing equipment market size is expected to see strong growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• The Surge Of Industrial Weighing Equipment Amidst Growing International Trade
• Ishida Europe Revolutionizes Industrial Weighing Equipment With Cutting-Edge Features
• North America was the largest region in the industrial weighing equipment market share in 2023
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