Market overview
The Electronic weighing scale market size is expected to grow rapidly from USD 3.35 Billion during the historic forecast period to USD 4.57 Billion by the end of the forecast period, with a CAGR of 5.54%.
An electronic weighing scale is a device or equipment that measures the weight of anything, from a feather to a fully loaded truck. This device weighs the user and then converts the data into an electronic format. After being appropriately processed, these measurements, which are present in electric form, are presented on the LCD panel. Electronic weighing machines are used in a variety of industries, including retail, jewelry, laboratories, health care, and other industrial settings. These weighing scales are far superior to iron weights or spring balances in terms of accuracy and consistency. Different measurement units, such as grams, kilograms, pounds, and ounces, are available on these weighing scales.
The coronavirus pandemic has created a fuss on most of the market's manufacturing, development, production, and logistics units. Many country’s governments placed restrictions as a result of the pandemic scenario. As a result of the pandemic, many businesses and stores have closed, resulting in a drop in demand for weighing scales. Additionally, because this equipment is not in use during the lockdown, sales in this market have decreased significantly. These weighing devices were also employed in closed fitness centers, which influenced the electronic weighing scale business.
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Regional Classification
The increased demand for automated electronic measuring equipment for testing and measurement applications across various sectors is attributable to the North American region dominating this market. The availability of skilled technical professionals will also help to drive the expansion of the electronic weighing scale market in this area. Europe will also see significant growth over the evaluation period, as it is home to the majority of the market's major participants. The Asia Pacific region will also see significant expansion, as raw materials are readily available at low prices, allowing for mass manufacture of low-cost electronic scales. Developing economies like India, China, and Japan will drive this region's growth.
Market Segmentation
Based on the scale, the Electronic Weighing Scale Market has been segmented into tabletop scale, platform scale, precision scale, pocket scale, and others.
Based on the end-use vertical, the market has been segmented into industrial, veterinary, scientific/laboratory, jewelry, food & beverages, health & fitness, industrial, education/research, and others.
Based on the region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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KeyPlayers
The major key players in the market are A&D Company, Limited (US), Fairbanks Scales Inc. (US), Adam Equipment (UK), Essae-Teraoka Pvt. Ltd. (India), Kern & Sohn Gmbh (Germany), Mettler Toredo International, Inc. (US), Shinko Denshi Co., Ltd (Japan), Contech Instruments Ltd (India), Cardinal Scale Manufacturing Company (US), Doran Scales, Inc. (the US), Avery Weigh Tronix Llc. (US), Sartorius Group (Germany), Shimadzu Corporation (Japan), Bonso Electronics International Inc. (Hong Kong), and Tanita Corporation (Tokyo). All market players compete with one another on a worldwide scale in international marketplaces by employing various methods such as product launches and upgrades, mergers and acquisitions, alliances, and so on.
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