News on U.S. government agencies, U.S. politics, companies doing business with U.S. federal government. Read U.S. national and local news. This site is not affiliated with United States Government.
(USGovernment-News.Com, May 18, 2018 ) 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
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.
According to research experts, the container weighing system market is expected to be worth USD 3.95 Billion by 2022, growing at a CAGR of 4.6% between 2017 and 2022.
The following points/ phases are most important to consider in this system market growth such as,
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.
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.
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 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.
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).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:
