Pune, Maharashtra -- (SBWire) -- 05/03/2019 --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.
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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.
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Belt Scale Market – Competitive Landscape
To capitalize on the growing demand for conveyor belt scales in the mining industry, Sensortechnik, a leading player operating in the belt scales market launched the new H-Sensortechnik optical scale in 2018. The belt scale system leverages laser technology to calculate the volume of the material on the conveyor systems.
In order to enhance the speed of production and accuracy of measurement, a group of researchers developed a digital algorithm to filter out noise created by conveyor vibrations and products in motion. The study conducted concluded the digital algorithm could effectively measure the weight of items of different lengths which are transported on the conveyor in a random order.
In 2018, a conveyor belt scale system was designed specifically to measure the weight and flow rate of electronic components for instances where electromagnetic interferences could impact the readings. The novel belt scale system leverages fiber Bragg grating to accurately measure the weight of electronic components.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.
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Other players operating in the belt scales market include Siemens AG, Rice Lake Weighing System, FLSmidth & Co A/S, Merrick Industries, and Schenck Process.
What are the Challenges Stakeholders in the Belt Scales Market need to Address?
High costs of belt scale systems, coupled with significant initial investments incurred for installation of the equipment in the facility is expected to dampen belt scales market growth during the forecast period. Although manufacturers are working towards streamlining manufacturing processes to reduce costs, the development and its eventual reflection on the belt scale pricing is likely to take substantial time.
The swiftly changing technological landscape is prompting companies to continuously upgrade the existing systems to maintain a competitive edge in the market. However, in case of belt scale systems, upgrading requires replacing the old belt scale systems with new ones while bearing huge costs. The factor is estimated to deter belt scale market growth in the foreseeable future.
Table of Contents Covered in the report are:
Chapter 1 Global Belt Scales Market - Executive Summary
1.1 Belt Scales Market- Opportunity Assessment
1.2 Global Belt Scales Market Trends
1.1 Fortune Wheel – Opportunity Analysis
Chapter 2 Global Belt Scales Market Overview
2.1 Introduction
2.1.1 Global Belt Scales Market Taxonomy
2.1.2 Global Belt Scales Market Definition
2.2 Key Market Trends
2.3 Key Success Factors
Chapter 3 Global Belt Scales Market Background
3.1 Global Conveyor Belts Market Outlook
3.2 Key Indicator Assessment
3.2.1 Technological innovations in Belt Scales
3.2.2 Electro-mechanical device adoption rate by region
3.2.3 Role of Electro-mechanical device in automation
3.2.4 Top five reasons for automation
3.2.5 Enterprises investment for process automation
3.3 Infrastructure Investment Macro-Economic Factors
3.3.1 Global GDP Growth Outlook
3.3.2 Global Industrial Automation Sector Outlook
3.3.2.1 Potential of Automation in Industrial and Service Sector
3.3.2.2 Estimated Incremental Opportunity for Industrial Automation between 2018 - 2025
3.3.2.3 Opportunity by End Markets for Industrial Automation, 2018-2025
3.3.2.4 Factors affecting the Pace and Extent of Automation
3.3.2.5 Technological Advancements and Key Trends in Industrial Automation Activities
3.4 Global Belt Scales Market Dynamics
3.4.1 Drivers
3.4.2 Restrains
3.4.3 Opportunities
3.5 Supply Chain
3.6 Cost Structure
3.7 Pricing Analysis
3.7.1 Price Point Assessment by Region
3.7.2 Price Point Assessment by Weighing Capacity Type
3.8 Key Participants Market Presence (Intensity Map) By Region
And Continue....
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Belt Scales Market - Innovative Integrations Being Made to the Conventional Belt Scale Systems Are Providing Additional Value for Industry-Specific Usage