Seattle, WA -- (SBWire) -- 04/17/2017 --According to the latest report 2017 "Container Weighing Systems Market by Offering (Weighbridges, Rubber Gantry Cranes, Reach Stackers, Container Handling Forklift Trucks), Medium (Rail, Road, Ship), Vertical (Construction, Ports, Transportation & Logistics) - Global Forecast to 2022", The container weighing system market is expected to be worth USD 3.95 Billion by 2022, growing at a CAGR of 4.6% between 2017 and 2022.
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This report aims to estimate the market size and future growth potential of the container weighing system market on the basis of different segments such as offering, medium, vertical, and region. It also analyzes subsegments with respect to individual growth trends, future prospects, and contribution to the market.
The adoption of container weighing systems can help prevent the occurrence of accidents, particularly during transportation through ships. Overloaded ships cannot withstand harsh weather and rough seas or currents. The increasing automation across the ports and manufacturing areas facilitates the adoption of container handling equipment integrated with weight measurement systems.
Weighbridges held the largest market size, in terms of offering, as they have more functional benefits. These benefits such as load cells in weighbridges enable the end user to measure the weights accurately over other offerings. Weighbridges are considered legal weight measurement equipment across the industry verticals and the use of weighbridges is the traditional method to measure the weights.
The ship medium segment is expected to hold the largest market share between 2017 and 2022. The ship medium of transportation accounts for more than 90% of the total trade across the world. In addition, trade using this medium would continue to expand in the future as it provides competitive freight costs over other transport mediums. In addition, the mandated SOLAS regulations are expected to drive the market in the future. The container weighing system is used to implement the SOLAS regulations by verifying the gross mass of the container within the tolerance limits.
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North America held the largest share of the container weighing system market in 2016, and the trend is expected to continue during the forecast period. The stringent regulations for the transportation safety and increasing automation across the various industry verticals are the major drivers for the growth of the container weighing system market in North America.
This report profiles the most promising players in the container weighing system market. Major companies operating in the container weighing system market include Rice Lake Weighing System, Inc (US), Mettler-Toledo International, Inc (US), Avery Weigh Tronix, LLC (US), Fairbanks Scales, Inc (US), Flintec Group AB (Sweden), Bison Group Ltd (UK), and Atlas Weighing Pty Ltd (Australia).
Latest Market News on Container Weighing Systems Market Worth 3.95 Billion USD by 2022
The container weighing system market is estimated to be worth USD 3.95 Billion by 2022, at a CAGR of 4.6% during the forecast period.