Belt Scales Market Anticipated to Touch 3.3% CAGR and Exhibit US$ 930 Mn Market Value between 2018 and 2027
The belt scale market is likely to be valued at approximately US$ 970 million in 2019, witnessing a growth of over 3%. The steady growth in the belt scale market will be driven by a combination of macroeconomic and industry-specific factors, including growing demand for bulk material handling for increased production. The Fact.MR report tracks the belt scales market for the period 2018-2027. According to the report, the belt scales market is projected to grow at 3.3% CAGR through 2027.
The study further opines that quick and efficient identification of defective parts in belt scale systems is aiding end-user industries in substantially reducing the downtime. Leveraging its capabilities, companies are monitoring real-time data to optimize production and manufacturing processes. Additionally, remote monitoring, predictive maintenance, and optimization are helping companies reduce dependency on manual labor and save on overhead costs. These factors are vital to the surging demand for automation across different industries which, in turn, is complementing the growth of the belt scales market.
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Robust Demand for Multi Idler Belt Scale Systems to Prevail
Multi idler belt scale systems in dual idlers, triple idlers, and quad idlers are finding increasing application owing to the enhanced accuracy the conveyor systems provide relative to single idler belt scale systems. Multi idler belt scale systems use additional load cells for precise weighing of materials. In addition, the utilization of additional load cells aids in expanding the size of the weighbridge eventually allowing integrators to measure materials for a longer period of time. The inclusion of each new idler enhances the accuracy of the belt scale systems. Multi idler belt scale systems are increasingly being adopted in applications which require precise weight sampling of products or use extremely fast conveyor systems. Additionally, multi idler belt scale systems deliver the same accuracy when used in combination with variable conveyor systems in portable conveyors, stationary conveyors, and feeders making them a preferred choice for integration with already existing systems. Fact.MR opines these factors are crucial in driving the demand for multi idler belt scale systems in end-user industries with this segment estimated to hold 83% of the market share in 2019.
Increasing production of novel and innovative conveyor idler maintenance products and services are further expected to drive demand for multi idler belt scale systems during the forecast period. For instance, ESS Engineering, an Australian-based company specializing in conveyor systems management, launched a new belt training device to overcome misalignment of idlers to enhance their longevity. The company also announced the launch of retractable idler frames to simplify replacement of idlers in conveyor systems. Simplification of maintenance processes is likely to cause a surge in the demand for multi idler belt scale systems.
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.
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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.
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