Global Belt Scales Market to Surpass a Notable CAGR At 3.3% through 2018-2027

Posted by Arslan on June 17th, 2019

The purpose of this comprehensive forecast report presented by Fact.MR is to elaborate the various market projections impacting the global belt scales market size during the period through 2018-2027. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the belt scales market during the forecast period.

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Global Belt Scales Market: Key Insights

  • A gradual surge in the industrial and manufacturing production, coupled with the growing demand for food upheld the growth of the belt scales market during the 2013-2018 period with the market registering a steady growth at 2.6%.
  • In 2018, the belt scales market was valued at over US$ 930 million and is likely to witness consistent growth at 3.3% CAGR during 2019-2027.
  • Europe will continue to be the largest market for belt scales market throughout the forecast period
  • South Asia and Oceania are expected to emerge as the fastest growing market for belt scales with mounting demand for conveyor belt scale systems in the booming industries and mining sectors of developing economies in the region.

What is Driving the Belt Scales Market?

  • Low operating costs, precision weighing mechanism, increased throughput, and high efficiency are making conveyor belt scales increasingly popular in the mining industry. Numerous companies are replacing conventional weighing mechanisms with conveyor belt scales to gain a competitive edge in the mining industry.
  • Innovative integrations being made to the conventional belt scale systems are providing additional value for industry-specific usage, a pervasive trend driving widespread adoption of belt scales in industries that are seeking cost-effective, precise, and efficient weighing solutions to boost throughput.
  • Rapid industrial growth and demand for bulk material handling and weighing is creating a demand for assembly line setup to boost throughput and reduce overhead costs, a trend which is likely to cause a surge in the demand for conveyor belt scale systems across industries.
  • Advancements in Industrial Internet of Things (IIoT) is allowing end-use industries to optimize belt scale performance, reduce downtime, increase throughput, collect data, and automate industrial processes through continuous remote monitoring. The greater control over operations is, in turn, encouraging the adoption of belt scale systems in an assortment of industrial sectors.
  • Development of portable cleaning solutions for conveyor belt scale systems is likely to drive the demand in the food and beverages industries with stringent government regulations prompting companies to focus on the quality of the production environment.

Leading players operating in the belt scale market include Covey Weigh LLC, Thayer Scales Inc., Tecnetics Industries, Inc., Saimo Technology Pty Ltd, and Yamato Weighing & Information Technology.

Other players operating in the belt scales market include Siemens AG, Rice Lake Weighing System, FLSmidth & Co A/S, Merrick Industries, and Schenck Process.

Burgeoning Demand for Conveyor Belt Scale Systems in Mining Industry to Uphold Growth

While belt scale systems find applications in an array of end-use industries such as food & beverages, cement, steel, energy & power, and logistics, demand for conveyor belt scale systems is surging in the mining industry. Mining industry relies heavily on weighing of material which is a key aspect for evaluating profitability. The conventional weighing systems lack the accuracy to precisely weigh bulk material and single scale used conventionally substantially reduces throughput and production. Conveyor belt scale systems using perceptive electronic components for measuring weights are providing mining companies with an efficient alternative to the conventional weighing systems. Additionally, the system does not require constant loading and unloading of materials for weighing which enables companies to save both time and costs.

In addition to this, belt scale systems are available in single idler and multi idler models and companies can also choose between light, moderate, and heavy models depending on the amount of weight to be measured.

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Arslan

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Arslan
Joined: December 18th, 2017
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