Electronic Weighing Machines Market Size, Share & Trends Report

Electronic Weighing Machines Market Size, Share & Trends Analysis Report By Type (Laboratory Scale, Retail Scale), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-982-1
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The global electronic weighing machines market size was valued at USD 3.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.1% from 2020 to 2027. Demand for electronic weighing machines is increasing in the commercial and residential sectors owing to increasing economic activities, technological advancements in laboratory balances and scales, and growing need to maintain precisions in process. Reliability, accuracy, durability, portability, ease of calibration, and extra features are acting as major factors for increasing adoption and penetration of electric weighing machine. Moreover, these weighing machines have multiple units of measure so that units can be measured and converted into different units, such as grams and ounces. This aforementioned factor is shifting consumers’ preference from traditional to digital/electronic weighing machines.

U.S. electronic weighing machines market size

Increasing commercial activities is also fueling the growth of the market over the forecast period. While purchasing products, consumers prefer products with various certificates, such as the National Institute of Standards and Technology (NIST) certificate, National Conference on Weights and Measures (NCWM), and National Type Evaluation Program (NTEP).

Companies in the market are increasingly focusing on the introduction of compact and portable products in order to gain market share. Companies are focusing on the integration of advanced technology to achieve higher precision. For instance, in April 2019, Truweigh LLC launched a water resistance digital pocket scale. The product also comes with an IP65 rating, making it dust-proof. The pocket weighing scale comes with a white backlit LCD and black titanium chrome platform. Home-based business owners are the major consumers of portable weighing machines owing to the space-saving option, ease of portability, and similar accuracy.

However, one of the major factors acting as a restraint for the electronic weighing scale market growth is the requirement of electricity for the operation of the product and without electricity, the usage of the electronic weighing machines is not possible. This factor is influencing consumers to opt for a manual or spring weighing machine. Hence, developing countries facing a shortage of electricity may not have a higher adoption rate of the product. High maintenance costs, electricity bills, and high prices, when compared to the traditional and manual weighing machines, are acting as major challenges for the market in developing countries.

Type Insights

In terms of revenue, the retail scale segment dominated the market with a share of 33.1% in 2019. Increasing urbanization and a growing number of retail stores are acting as major factors for the growth of the segment. According to Census Bureau data, 2018 saw a net increase in retail stores in the United States. There were almost 3,100 more stores during the 4th quarter of 2018 compared to the 4th quarter of 2017. Similarly, stores with fewer than five employees witnessed an increase of 4,569 stores as of the 1st quarter of 2018 compared with the 1st quarter of 2017.

The laboratory-scale category is expected to expand at the fastest CAGR of 3.6% from 2020 to 2027. The segment is majorly driven by technological advancements in lab scales and growing research projects in the pharmaceutical and biotech companies. In June 2019, RADWAG Balances and Scales launched 4Y PLUS laboratory balances with a reflex level system and radwag connect in order to gain remote control of the balance.

Distribution Channel Insights

The offline segment dominated the market with a share of 94.5% in 2019. Brick and mortar retail stores, including distributors, specialty stores, hypermarkets, and supermarkets, are the most preferred distribution channels. Most consumers prefer buying an electronic weighing machine from offline stores as they can check the quality and functionality of the products before buying them. In addition, offline stores offer after-sales support pertaining to issues related to products. Moreover, it is easier to communicate to these stores for claiming guarantees or warranties. Thus, the abovementioned factors attract consumers to purchase products from offline retail outlets. 

Global electronic weighing machines market share

In terms of revenue, the online segment is expected to expand at the fastest CAGR of 3.8% from 2020 to 2027. Online channels are hosted by businesses that are into e-commerce as well as by manufacturers that have realized the potential of these channels, and thus have hosted their websites to better cater to the customer needs. The availability of a wide range of products with an option to compare them based on features and prices, coupled with swift product delivery and easy returns policies, is anticipated to drive the segment. Consumers prefer multi-brand online retailers to save time.

Regional Insights

Asia Pacific dominated the market for an electronic weighing machine with a share of 35.7% in 2019. The strong presence of regional players is acting as a major factor for market growth. A high number of retail stores and laboratories and growing health awareness among consumers are driving demand for the electronic weighing machines in the region. China and India are the major shareholders and contributors to regional market growth. The low cost of the product in the region owing to the presence of regional players is a major reason behind higher penetration and the strong dominance of regional players in the region.

North America is expected to expand at a CAGR of 3.2% from 2020 to 2027. Increasing automation across the region is driving demand for electronic weighing machines. The U.S. holds a major share in the region owing to the vast pharmaceutical sector, strong retail channel, and growing demand from households in order to keep track of health. This aforementioned factor is acting as a major driver for the market in the region.

Key Companies & Market Share Insights

The global market is characterized by high competition. Companies are focusing on increasing product launches in order to gain market share. For instance, in 2018, Kern & Sohn GmbH launched a premium analytical balance with single-cell generation for rapid and stable weighing results. The device also comprises a bright OLED display with a large viewing angle and USB interfaces for the transfer of weighing data to external devices. Some of the prominent players in the electronic weighing machines market include:

  •  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.

Electronic Weighing Machines Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 3.7 billion

Revenue forecast in 2027

USD 4.8 billion

Growth Rate

CAGR of 3.1% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

The U.S.; Germany; France; The U.K.; China; India; Brazil

Key companies profiled

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

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global electronic weighing machines market report on the basis of type, distribution channel, and region:

  • Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Laboratory Scale

    • Gem and Jewelry Scale

    • Retail Scale

    • Health Scale

    • Kitchen Scale

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

    • Europe

      • Germany

      • France

      • The U.K.

    • Asia Pacific

      • China

      • India

    • Central and South America

      • Brazil

    • The Middle East and Africa

Frequently Asked Questions About This Report

Pricing & Purchase Options

Service Guarantee

  • Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Confidentiality

    We are in compliance with GDPR & CCPR norms. All interactions are confidential.

  • GDPR.EU
  • Custom research service

    Design an exclusive study to serve your research needs.

  • 24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities