Europe will Continue to be the Largest Market for Belt Scales Market
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.
[UKPRwire, Wed Mar 13 2019] 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.
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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.
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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
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.
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