Future Market Insights, Inc. forecasts robust growth for the industrial weighing equipment market, fueled by burgeoning industries, automation demands, and efficiency gains. However, challenges remain, highlighting room for innovation and untapped potential. Explore full report for insights & stakeholder opportunities.
NEWARK, Del., Jan. 16, 2024 /PRNewswire/ -- The Global Industrial Weighing Equipment Market value is expected to increase from US$ 4,622.0 million in 2023 to US$ 8,242.7 million in 2033. By 2033, global demand for industrial weighing equipment is projected to surge at a CAGR of 6.0%.
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The market for industrial weighing equipment has enormous potential for developing more precise, accurate, and economical machinery. Industrial weighing machines are necessary for every industry in one way or another. Hence, the expansion of several industries is anticipated to fuel the growth of the industrial weighing equipment market.
The market for industrial weighing equipment is anticipated to develop due to the increasing adoption and desire for automation in end-use sectors. The issues with manual weighing machines and rising labor prices are two variables anticipated to propel the industrial weighing equipment market.
Weighing processes are completed faster and with less work with the help of industrial weighing equipment in several sectors. Moreover, rising industry infrastructure investments are anticipated to propel the market internationally.
The market's overall expansion is set to be hampered by a few obstacles and hurdles. The high cost of the materials needed to make sensors is a key factor restricting the market's growth. However, technical advancements offer excellent growth opportunities and unrealized potential in new markets.
Scope of the Report
Attribute | Details | ||
Estimated Market Size (2023) | US$ 4,622.0 million | ||
Projected Market Size (2033) | US$ 8,242.7 million | ||
Anticipated Growth Rate (2023 to 2033) | 6.0 % | ||
Historical Data | 2018 to 2022 | ||
Forecast Period | 2023 to 2033 | ||
Quantitative Units | Value (US$ million) and Volume (Units) | ||
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | ||
Market Segments Covered | Industrial Weighing Equipment Market Segmentation By Product Type:
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Key Countries Covered |
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Key Takeaways from the Report
- The global market for industrial weighing equipment is projected to thrive at 6.0% CAGR through 2033.
- By weighbridge and truck scale segment by product type, it is expected to reach US$ 2,753.0 million in 2033.
- The United States is anticipated to reach US$ 1,046.9 million in 2033.
- China is projected to attain a valuation of US$ 1,030.5 million by 2033.
- Demand in India is predicted to rise at 6.9% CAGR through 2033.
"The rising demand for precision, efficiency, and technological advancements is projected to propel the industrial weighing equipment market. Increasing emphasis on automation, integration of Industry 4.0 technologies, and the need for accurate measurements across diverse industries are further contributing to market growth. These weighing solutions address evolving operational requirements, aligning with modern industrial processes. A growing trend toward advanced, connected technologies, cloud-based solutions, and sustainability practices further influences the market's trajectory." - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
The global industrial weighing equipment market is fragmented, with leading players accounting for 25% to 30% share. Following are the leading manufacturers and suppliers of industrial weighing equipment listed in the report.
- Mettler-Toledo International Inc.
- Avery Weigh-Tronix
- RADWAG Wagi Elektroniczne
- Adam Equipment
- A&D Weighing
- Minebea intec
- Thompson Scale Company
- Easiweigh Limited
- AFI Group
- Rice Lake Weighing Systems
- Fairbanks Scales
- Ohaus Corporation
Key players focus on expanding domestic production and technology in industrial weighing equipment to provide consumers with cost-efficient solutions. They are also investing in developing new products and innovating existing ones to meet end-user demand.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Recent Developments-
- In November 2023, Rice Lake Weighing Systems acquired Utilcell, a global load cell and weighing instrumentation manufacturer headquartered in Barcelona, Spain.
- In March 2021, Mettler-Toledo International acquired PendoTECH, a distributor and manufacturer of transmitters, control systems, single-use sensors, and software for monitoring, measuring, and data collection in bioprocess applications.
Get More Insights into the Industrial Weighing Equipment Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global industrial weighing equipment market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.
The study provides compelling insights into based industrial weighing equipment market segment based on product type (checkweighers, portable and bench scales, floor scale, counting scale, weighbridge and truck scale, rail scale), type (analog weighing system, digital weighing system), capacity (low capacity, medium capacity, large capacity), end-use (logistics and warehousing, agriculture, industrial [chemicals, steel and metals, mining, food and beverages, construction materials, others]), and region.
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About Future Market Insights (FMI) - Industrial Automation and Equipment
The industrial automation division of Future Market Insights (FMI) offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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