Published Date: 23-Sep-2020
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According to a new report Global Electronic Weighing Machines Market, published by KBV research, The Global Electronic Weighing Machines Market size is expected to reach $4.8 billion by 2026, rising at a market growth of 5.9% CAGR during the forecast period.
The offline segment has led the market in the year 2019. The distribution channels are mostly preferred including Brick and mortar retail stores, such as distributors, specialty stores, supermarkets, and hypermarkets. Consumers mostly prefer to purchase an electronic weighing machine from offline stores so that they can assure the quality and functionality of the products at the time purchase itself. The online segment is likely to expand in terms of revenue from the year 2020 to 2026. Online channels are mainly hosted by e-commerce businesses as well as by manufacturers who have understood the potential of these channels, so they have started hosting their websites to better services to the customer needs.
The electronic weighing scale market is expected to grow globally at a substantial rate in the coming years. The commercial segment mainly drives the offline market. Shop owners and small retailers buy mainly from the salesperson of the company. Furthermore, any issues related to products are easily understood by the after-sales support from the executive which in turn is boosting the customers to purchase from offline distributors.
The Asia Pacific has led the market in the year 2019. The efficient and competitor regional players are present and this is acting as a key factor for the growth of the market. A large number of retail stores and laboratories are present at the same time growing health awareness among the people is boosting the demand for electronic weighing machines in this region. North America is anticipated to grow gradually from 2020 to 2026. Growing automation in this region is boosting the demand for electronic weighing machines. The U.S. has the largest share in this region due to the presence of an enormous pharmaceutical sector, growing demand from households, and strong retail channels.
Structural Insights: https://www.kbvresearch.com/electronic-weighing-machines-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Illinois Tools Works, Inc. (Avery Weigh-Tronix, LLC), Shimadzu Corporation, Sartorius AG, BONSO Electronics International, Inc., Mettler-Toledo International, Inc., A&D Company, Limited, Doran Scales, Inc., Essae-Teraoka Pvt. Ltd., Fairbanks Scales, Inc. and Kern & Sohn GmbH.
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