Global Electronic Weighing Machines Market by Distribution Channel (Online, Offline), by Type (Laboratory Scale, Retail Scale) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global electronic weighing machine market was worth USD 3.7 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 3.1%) between 2020 and 2027. Electronic weighing machines are in high demand in both the residential and commercial sectors. This is due to technological advances in laboratory balances, scales, and the need to maintain precise measurements. The main factors driving the adoption and penetration of electronic weighing machines are reliability, accuracy, durability and portability. These weighing machines can also be converted to different units such as grams or ounces by using multiple units of measurement. The above factor has shifted consumers' preference away from electronic/digital weighing machines.

The market is expected to grow at a faster pace due to increased commercial activity. Consumers prefer to purchase products that have multiple certificates such as the National Institute of Standards and Technology certificate (NIST), National Conference on Weights and Measures certification (NCWM) and National Type Evaluation Programs (NTEP).

To increase market share, companies are focusing more on the development of portable and compact products. To achieve greater precision, companies are now focusing on the integration advanced technology. Truweigh LLC, for example, launched a waterproof digital pocket scale in April 2019. It is also dustproof and has an IP65 rating. The white backlit LCD is included with the pocket weighing scale, as well as a black titanium chrome platform. Due to their portability and accuracy, home-based businesses are the main users of portable weighing machines.

The market growth in electronic weighing scales is being hampered by the need for electricity. Without electricity, it is impossible to use the electronic machines. This is why consumers are choosing to use a spring or manual weighing machine. The product may not be adopted in more developing countries that have less electricity. The market is facing major challenges in developing countries due to high maintenance costs, high electricity bills, and higher prices, compared with traditional and manual weight machines.

Type Insights

With a 33.1% share in 2019, the retail scale segment was the dominant market in terms of revenue. The growth of this segment is due to increasing urbanization and the increase in retail stores. The United States saw an increase in retail stores by 3% in 2018, according to Census Bureau data. The 4 ^th quarter 2018 saw almost 3100 more stores than the 4 ^thquarter 2017. The number of stores with less than five employees saw an increase of 4,569 stores in the 1 ^th quarter 2018 compared to the 1 ^thquarter 2017.

From 2020 to 2027, the laboratory-scale category will grow at a 3.6% CAGR. This segment is mainly driven by technological advances in laboratory scales and growing research projects within pharmaceutical and biotech firms. RADWAG Balances and Scales introduced 4Y PLUS laboratory scales in June 2019. They include a reflex level system and radwag connection, which allow remote control.

Distribution Channel Insights

With a market share of 94.5 percent in 2019, the offline segment was the dominant player. The most popular distribution channels are brick and mortar retail stores. This includes distributors, specialty shops, hypermarkets and supermarkets. Because they can test the product's quality and functionality before purchasing, most consumers prefer to buy an electronic weighing machine in offline shops. Offline stores also offer support for after-sales issues. These stores are also easier to contact for warranty claims or guarantees. These factors are what attract customers to buy products from offline retailers.

The fastest growth rate in revenue is expected for the online segment, which will grow at 3.8% CAGR between 2020 and 2027. Businesses that are interested in e-commerce host online channels. Manufacturers also host their websites to meet customer needs. This segment is expected to grow because of the availability of many products and the ability to compare them based upon features and prices. Also, there are easy returns policies and quick product delivery. To save time, consumers prefer multi-brand online retailers.

Regional Insights

Asia Pacific was the dominant market for electronic weighing machines in 2019, with a 35.7% share. Market growth is aided by the strong presence of regional players. The region's growing demand for electronic weighing machines is driven by the presence of many retail shops and laboratories, as well as increased health awareness. China and India are major shareholders and contribute to the regional market growth. Regional players are able to lower the cost of products in the region, which is why there has been greater penetration and a strong hold on the regional market.

North America will grow at 3.2% CAGR between 2020 and 2027. Electronic weighing machines are in high demand due to the increasing automation of the region. Due to its strong retail channel and vast pharmaceutical sector, the U.S. has a significant share of the market. Additionally, the growing demand from the households to track their health is driving the U.S. to hold a large portion of the region's market. The market is being driven by the above mentioned factors.

Market Share Insights & Key Companies

Global competition is high. To increase market share, companies are focusing their efforts on product launches. Kern & Sohn GmbH, for instance, launched a premium analytical balanced with single-cell generation that provides stable and rapid weighing results. It also features a bright OLED screen that offers a wide viewing angle, as well as USB interfaces to transfer weighing data from external devices. The market leader in electronic weighing machines is:

• A&D Company, Ltd.

• Mettler-Toledo International, Inc.

• Doran Scales, Inc.

• Essae-Teraoka Pvt. Ltd.

• Fairbanks Scales Inc.

• Kern & Sohn GmbH

• BONSO Electronics International Inc.

• Shimadzu Corporation

• Sartorius Group

• Avery Weigh-Tronix, LLC.

Up Market Research published a new report titled “Electronic Weighing Machines Market research report which is segmented by Distribution Channel (Online, Offline), by Type (Laboratory Scale, Retail Scale), By Players/Companies  Mettler-Toledo International Inc, Fairbanks Scales Inc, BONSO Electronics International Inc,  Doran Scales Inc,  Essae-Teraoka Pvt Ltd,  A&D Company Ltd, Avery Weigh-Tronix LLC, Shimadzu Corporation, Kern & Sohn GmbH, Sartorius Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Electronic Weighing Machines Market Report Segments:

The market is segmented by Distribution Channel (Online, Offline), by Type (Laboratory Scale, Retail Scale).

Electronic Weighing Machines Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Electronic Weighing Machines Market

Overview of the regional outlook of the Electronic Weighing Machines Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Electronic Weighing Machines Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Electronic Weighing Machines Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Online

                2. Offline

                1. Laboratory Scale

                2. Retail Scale

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electronic Weighing Machines Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Electronic Weighing Machines Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.