( PR4US.com | Press Release | 2017-04-18 20:11:38 )
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. For the purpose of this study, the base year considered is 2016 and the market forecast is provided for the period between 2017 and 2022.
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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.
This report focuses on the detailed segmentations of the market, combined with the qualitative and quantitative analysis of each and every aspect of the classification based on offering, medium, vertical, and geography. Based on offering, the container weighing system market has been classified into hardware and software.
North America held the largest share of the container weighing system market in 2016. Stringent regulations for the safety transportation and increasing automation across the various industry verticals are the driving factors for the growth of the container weighing system market in North America.
Factors such as the high cost of installation for meeting the weight measurement requirement using container handling equipment may hamper the growth of the market. However, the companies are expected to benefit from the mandated SOLAS regulations worldwide.
The key players in the market are competing with each other through new product launches, partnerships, agreements, and acquisitions. Major players operating in the container weighing system market include Rice Lake Weighing Systems, Inc (US), Mettler-Toledo International, Inc (US), Fairbanks, Scales, Inc (US), Flintec Group AB (Sweden), Avery Weigh Tronix LLC (US), and Futek Advanced Sensor Technology, Inc (US).
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