Global Electronic Weighing Machines Market Size, Share, Growth Analysis, By Distribution Channels(Online, Offline), By Type(Laboratory Scale, Gem) - Industry Forecast 2022-2028

Global Electronic Weighing Machines Market size was valued at USD 3.43 billion in 2021 and is poised to grow from USD 3.66 billion in 2022 to USD 6.62 billion by 2030, growing at a CAGR of 6.8% in the forecast period (2023-2030).

Electronic weighing devices are increasingly in demand in the commercial and residential sectors due to rising economic activity, technological advancements in laboratory balances and scales, and the growing need to maintain process precision. Due to its dependability, accuracy, durability, portability, ease of calibration, and other features, electric weighing machines are becoming more and more popular. These weighing tools also provide a wide range of measuring units, enabling measurement and conversion between other units including grammes and ounces. Consumers are choosing digital/electronic weighing devices over conventional ones due to the aforementioned factor.

Another factor boosting the market's growth during the predicted period is rising commercial activities. Consumers value credentials from organisations like the National Institute of Standards and Technology (NIST), the National Conference on Weights and Measures (NCWM), and the National Type Evaluation Programme (NTEP) when purchasing products.

Businesses are increasingly focusing on the creation of compact, portable items in an effort to enhance their market share. Businesses are working hard to integrate cutting-edge technologies in order to achieve greater precision. For instance, in April 2019, Truweigh LLC unveiled a water-resistant digital pocket scale. The product is additionally classified as IP65, making it dust-proof. The pocket scale has a white backlit LCD and a platform constructed of black titanium chrome. Portable weighing machines are typically employed by home-based business owners because of its portability, space-saving features, and equivalent accuracy.

One of the primary factors restricting the market growth for electronic weighing scales is the requirement for electricity to operate the device, which makes it hard to use them without it. Because of this, more customers are selecting manual or spring weighing machines. So it's feasible that less-developed countries with poor access to energy won't have a higher rate of product uptake. When compared to conventional and manual weighing equipment, high prices, electricity costs, and maintenance costs are the biggest barriers for the market in underdeveloped countries.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electronic Weighing Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

The global Electronic Weighing Machines Market has been segmented based on type, distribution channels, and region. Based on type, the Electronic Weighing Machines Market is segmented into laboratory scale, gem and jewelry scale, retail scale, health scale, kitchen scale, and others. Based on the distribution channel, the Electronic Weighing Machines Market is segmented offline and online. Based on region, the electronic weighing machines market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The electronic weighing scale market is expanding as a result of factors including dependability, accuracy, durability, portability, and simplicity of calibration. These advantages are causing electric weighing equipment to become more widely used and accepted.

Electronic weighing devices are increasingly in demand in the commercial and residential sectors due to rising economic activity, technological advancements in laboratory balances and scales, and the growing need to maintain process precision. Over the course of the projection period, these are a few additional crucial factors that are projected to fuel market advancement. These scales also provide a range of measurement units, allowing weights to be measured and converted to other units like grammes and ounces. Consumers are choosing digital/electronic weighing devices over conventional ones due to the aforementioned factor.

An increase in business activity is one of the primary factors anticipated to accelerate the growth of the electronic weighing scale market over the expected period. Consumers value credentials from organisations like the National Institute of Standards and Technology (NIST), the National Conference on Weights and Measures (NCWM), and the National Type Evaluation Programme (NTEP) when purchasing products.

Restraint

The requirement of electricity for the functioning of the product-using electronic weighing machines is difficult without it-is one of the major factors that is anticipated to hinder the expansion of the market for electronic weighing scales during the projected period. Because of this, more customers are selecting manual or spring weighing machines. So it's feasible that less-developed countries with poor access to energy won't have a higher rate of product uptake.

Market Trends

Growing automation in a number of industrial verticals has led to the use of automated electronic measuring equipment for material testing and measurement in commercial settings. Due to this reason, the region's electronic weighing scale market is growing financially. Significant advancements in weighing machine technology are needed for better industrial applications, such as transportation and recycling.