PUNE, India, April 11, 2017 /PRNewswire/ --
The report "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", published by MarketsandMarkets™, the market is expected to be worth USD 3.95 Billion by 2022, growing at a CAGR of 4.6% between 2017 and 2022.
Browse 61 market data Tables and 42 Figures spread through 145 Pages and in-depth TOC on "Container Weighing Systems Market"
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The container weighing system market is driven by the increasing focus on safety for maritime transportation and the mandated SOLAS regulations to verify the gross mass of the container to be shipped. In the future, government initiatives would further strengthen the maritime safety initiatives, which is expected to provide opportunities to the players operating in this market.
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"Weighbridges held the largest share of the market based on offering type"
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.
"Ship segment is estimated to be the largest market based on medium"
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.
"Waste management & recycling is estimated to be the fastest-growing market based on vertical"
The market for the waste management and recycling segment is expected to grow at the highest CAGR between 2017 and 2022. This growth is mainly attributed to the increasing focus on the reduction of wastes and efficient ways to recycle waste. The market has ample growth opportunities for measuring the potential benefits of recycling waste by measuring its weights accurately using the container weighing system.
"North America is expected to be the largest market for container weighing systems during the forecast period"
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.
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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).
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