Overview:

Measurement techniques have been of great significance since the start of human civilization. In the 19th century, industrial revolution brought a rapid development in new measurement techniques and instruments to meet the needs of industrialized production techniques. The market for electronic weighing scales likely to witness a substantial growth owing to the constant need for determining exact weight. The global electronic weighing scales market was valued at US$ 4.85 Bn in 2017 and expected to expand at a CAGR of 4.8% during the forecast period from 2018 to 2026.

Weighing scales are used for determining the mass or weight of a substance. An electronic weighing scale is more durable, compact and accurate than other conventional scales such as spring scales or balances, which often wear out and gives erroneous readings over a period of time. Electronic weighing scales are commonly used in businesses and industries for segregating and weighing materials accurately for process sales. The electronic weighing scales work on a microchip and electronic response. As a result, risk of inaccurate results are minimal compared to the analog scales.

Accuracy is the linchpin of any electronic weighing scale. The precise measurements provided by the electronic weighing scales drives the demand from various sectors including healthcare, retail, industrial, etc. Moreover, advantages of electronic weighing scales such as ease of handling, compact size along with easy availability likely to drive the adoption of electronic weighing scales, thereby augmenting the market growth. In recent times, demand for electronic weighing scales has increased significantly as measuring weight has become user-friendly. Rising dependence on these scales in diverse areas like hospitals, pharmacies, labs, supermarkets, kitchen, industries, and factories is growing at a greater extent, thereby enhancing the growth of electronic weighing scales market during the forecast period from 2018 to 2026.  

"Table Top Scales Garnered the Largest Revenue in 2017"

The global electronic weighing scales market, on the basis of product type is segmented into crane scales, pallet truck scales, platform scales, precision scales, table top scales, and others. In terms of value contribution, the market was dominated by the table top scales in 2017. Table top scales are rugged, compact electronic weighing scales. These scales are ideal for use in laboratories, pharmacies, cafes, retail, restaurants, kitchens, offices, etc. Table top scales are light in weight, easy to operate and are cost effective. As a result, advantages associated with table top scales is augmenting its demand in the retail and industrial sectors.

"Industrial Vertical Exhibits Largest Market Share"

In 2017, industrial vertical accounted for majority share in the global electronic weighing scales market. The dominance of this segment is largely credited to the industrial sector that depends on exporting and importing materials, shipments of manufactured goods, corrosive liquids and gases, etc. The electronic weighing scales have become a fixture in daily use within the industrial environment, thereby enhancing its growth in the overall market. It is a fact that the formulation of a substance is entirely dependent on a scale’s accuracy. Industrial scales are designed to perfectly adapt the environment and usage conditions. In the industrial applications, rugged industrial crane scales, platform scales, pallet truck scales, etc. are used widely.

"Asia Pacific to Continue its Supremacy during the Forecast Period from 2018 to 2026"

The electronic weighing scales market, based on geography was led by Asia Pacific in 2017. The presence of prominent players such as A&D Company Limited, Contech Instruments Limited, The Essae Group, Tanita Corporation, etc. are providing varied business opportunities in the region. Asia Pacific considered as high growth market and projected to remain dominant during the forecast period from 2018 to 2026. Wide availability of sensors such as load sensors, which are one of the prime components of the electronic weighing scales poised to drive the growth prospects of electronic weighing scales market in the region.

Competitive Insights

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 global electronic weighing scales market appears to be highly fragmented in nature due to the presence of large number of international as well as regional players. Product innovation and new product development remains the key strategies adopted by the players in the market. The key players are mainly focusing on implementing new innovation strategies and are strengthening their product portfolio to reach potential customers in the emerging markets.

For instance, in May 2017, Rice Lake Weighing Systems launched a new series of digital bench scales – BenchPro.  The multi-purpose digital bench scales are ideal for many diverse markets and industries worldwide. As a general purpose scale, BenchPro provides multiple benefits such as ability to tare containers, zero and change units of measure. The BenchPro Series can be useful for many applications such as point of sale, retail, food service, manufacturing, etc. Each BenchPro digital bench scale comprises a tempered glass, scratch resistant keypad that withstands accidental drops as well as repels dust, water and oil.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Electronic Weighing Scales market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Electronic Weighing Scales market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Electronic Weighing Scales market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Electronic Weighing Scales market?
• Which is the largest regional market for Electronic Weighing Scales market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Electronic Weighing Scales market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Electronic Weighing Scales market worldwide?