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.
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.
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.
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.
An elaborate and robust method was employed to extract invaluable information about the belt scales market. A two-step research process involving primary and secondary researches was used to obtain actionable insights into the belt scales market.
Interviewing experts from the belt scales market formed the basis of the primary research while secondary research was conducted by thoroughly studying belt scales market trade journals, paid sources, and other publications related to the belt scales market. Results from both steps of the research were cross-referenced with each other to produce an authentic and accurate forecast of the belt scales market.
Scope of the Report
Fact.MR recently launched a new report which provides valuable and actionable insights into the belt scales market. The report provides a comprehensive analysis of all the key factors influencing the growth of the belt scales market. A quantitative, as well as a qualitative analysis of the belt scales market, has been provided in the report. Additionally, all the micro and macroeconomic facets impacting the performance of the belt scales market have been analyzed in the report. A detailed opportunity assessment of the belt scales market has also been included in the report. In addition, a comprehensive analysis of the competitive landscape assessment of the belt scales market has been provided.
Chapter 1 – Global Belt Scales Market – Executive Summary
The report commences with an executive summary which provides brief yet affluent information about the belt scales market. Additionally, the chapter provides a brief overview of the market and opportunity assessment of the belt scales market.
Chapter 2 – Global Belt Scales Market Overview
A concrete definition of the belt scales market along with a comprehensive taxonomy of the market has been provided in the chapter. The chapter also sheds light on the key trends prevalent in the belt scales market and factors pivotal to obtaining success in the market.
Chapter 3 – Global Belt Scales Market Background
The chapter assesses the conveyor belts market and analyzes the influence it holds on the belt scales market. Additionally, all the key indicators such as technological developments, automation, and role of electromechanical devices in industries have been assessed in the chapter. The chapter also analyzes the key market drivers which impact the performance of the belt scales market. A comprehensive assessment of the cost structure, supply chain, and pricing has also been provided in the chapter.
Chapter 4 – Global Belt Scales Market Analysis and Forecast 2013-2027
The chapter provides a historical analysis of the belt scales market in addition to an authentic and accurate forecast. A detailed breakdown of the market on the basis of region, end-user industry, weighing capacity, and idler type has been provided in the chapter.
Chapter 5 - North America Belt Scales Market Analysis and Forecast 2013-2027
A brief introduction of the belt scales market prevalent in the North American region is provided at the beginning of the chapter. The ensuing segments of the chapter provide a historical analysis of the belt scales market performance in the region along with a forecast of the market on the basis of the segments identified earlier in the report.
Chapter 6 – Latin America Belt Scales Market Analysis and Forecast 2013-2027
The chapter commences with an introduction to the belt scales market prevalent in the Latin American region. In addition to this, the chapter provides a historical analysis of the belt scales market performance in the Latin American region. A forecast of the belt scales market has also been included in the chapter.
Chapter 7 – Europe Belt Scales Market Analysis and Forecast 2013-2027
A detailed analysis of the belt scales market prevalent in the European region on the basis of end-use industry, idler type, weighing capacity, and countries have been provided in the report.
Chapter 8 – East Asia Belt Scales Market Analysis and Forecast 2013-2027
The chapter provides a comprehensive assessment of the belt scales market prevalent in the East Asian region which includes a historical analysis as well as a forecast of the market on the basis of segments identified earlier in the report.
Chapter 9 – South Asia & Oceania Belt Scales Market Analysis and Forecast 2013-2027
A comprehensive analysis of the belt scales market prevalent in the South Asian & Oceania region has been provided in the chapter. The chapter includes a historical analysis of the belt scales market performance in the region along with a forecast of the market.
Chapter 10 – MEA Belt Scales Market Analysis and Forecast 2013-2027
The chapter provides a detailed assessment of the belt scales market prevalent in MEA. A historical assessment of the belt scales market performance along with an authentic forecast of the market has been included in the chapter.
Chapter 11 – Emerging Countries Belt Scales Market Analysis and Forecast 2013-2027
The chapter identifies emerging countries that are could potentially offer lucrative opportunities to belt scale manufacturers. A detailed analysis of key factors impacting the belt scales market growth along with historical analysis and forecast of the market have been provided in the chapter.
Chapter 12 – Competition Analysis
The chapter provides detailed insights into the market share distribution between the different companies operating in the belt scales market. All the leading players operating in the belt scales market are identified in this chapter.
Chapter 13 – Company Profiles
A detailed profile of all the leading companies identified in the earlier chapter has been provided in the chapter. The individual profiling of each company sheds light on their strengths, weaknesses, strategies, product portfolios, market presence, revenue share, and global footprint. The information provided in the chapter can be leveraged to streamline strategies and gain maximum profitability.
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