The electronic weighing machines market has seen steady growth, increasing from $3.86 billion in 2023 to $4.09 billion in 2024, with a CAGR of 5.8%. Historical growth is driven by industrial automation, quality control standards, and market expansion in retail and logistics. The market is projected to reach $5.17 billion by 2028, with a CAGR of 6.0%. Growth drivers include e-commerce innovation, regulatory compliance, and the integration of data analytics. Emerging trends include advancements in sensor technology, connectivity solutions, and compact, portable designs.
Major Driver In The Electronic Weighing Machines Market
The electronic weighing machine market is poised for significant growth, driven by the thriving retail industry, which is dedicated to selling goods and services. These electronic weighing machines play a crucial role in measuring the weight of products within the retail sector. In December 2023, as reported by the U.S. Census Bureau, a government agency based in the U.S., retail trade sales witnessed a 0.1% increase compared to October 2023, showing a substantial 3.1% rise from the figures recorded in 2022. This robust surge in retail sales is a key factor propelling the growth of the electronic weighing machine market.
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Electronic Weighing Machines Market Competitive Landscape
Kubota Corporation, Sartorius AG, Setra Systems Inc., Shimadzu Corporation, Mettler-Toledo International Inc., Avery Weigh-Tronix LLC., Fairbanks Scales Inc., Cardinal Scale Manufacturing Company, Flintec Group AB, Toledo Weighing Machines Pvt. Ltd., Precia Molen, Rice Lake Weighing Systems Inc., Essae-Teraoka Pvt. Ltd., Tanita Corporation, Contech Instruments Ltd., Minebea Intec, Rinstrum Pty Ltd, Dini Argeo S.r.l., A&D Company Limited, Bonso Electronics International Inc., Kern & Sohn GmbH, Adam Equipment Inc., Ohaus Corporation, Marsden Weighing Group, Brash & Sons Ltd., ATRAX Group NZ Ltd., Doran Scales Inc., Easiweigh Ltd., Truweigh LLC, Aczet Pvt. Ltd., Hottinger Baldwin Messtechnik GmbH
Key Electronic Weighing Machines Market Trend
Product innovations are a key trend in the electronic weighing machine market. Companies are introducing new products to meet customer demands. For example, in November 2021, Mettler-Toledo, a US-based manufacturer, launched the BPA121 Portable Scale. Designed specifically for the food processing industry, this portable scale is suitable for moist environments and offers exceptional protection against water and humidity, addressing the needs of damp and harsh conditions.
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Electronic Weighing Machines Market Segmentation
The electronic weighing machines market covered in this report is segmented –
1) By Type: Laboratory Scale, Gem and Jewelry Scale, Retail Scale, Health Scale, Kitchen Scale, Other Types
2) By Distribution Channel: Online, Offline
By Geography:The regions covered in the electronic weighing machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the electronic weighing machine market in 2023.
The Electronic Weighing Machines Global Market Report 2024 furnishes information about the global electronic weighing machines market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
