Global Industrial Weighing Machine Market 2018-2022
About Industrial Weighing Machine
An industrial weighing machine is a measuring instrument for determining the weight of an object for various industrial applications.
Technavio’s analysts forecast the global industrial weighing machine market to grow at a CAGR of 4.88 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial weighing machine market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of industrial weighing machine.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Weighing Machine Market 2018-2022
Technavio recognizes the following companies as the key players in the global industrial weighing machine market: A&D Engineering, Avery Weigh-Tronix, Bilwinco, CI Precision, D Brash & Sons, and Fairbanks Scales
According to the report, one of the major drivers for this market is Increasing demand for automated and digital weighing scales. Accurate determination of weight is a key attribute for product and process quality control. With technological advances and increasing labor costs, automation is becoming the backbone of operational cost reduction. The ability of automated machines to perform tasks faster than humans, with high precision and almost zero errors, makes automation the new trend in the market.
Further, the report states that one of the major factors hindering the growth of this market is High market competition leading to price decline. The global industrial weighing machine market is a highly fragmented with local, regional, and international vendors competing for market share. These machines are used in various segments, such as manufacturing, food and beverage, chemicals, logistics and transportation, and mining. In all these segments, there are multiple vendors competing for the sale of their products.
A&D Engineering, Avery Weigh-Tronix, Bilwinco, CI Precision, D Brash & Sons, and Fairbanks Scales