Electronic Weighing Machines Market Size, Share, Growth Analysis, By Distribution Channels(Online, Offline), By Type(Laboratory Scale, Gem, Jewelry Scale, Retail Scale), By Region - Industry Forecast 2024-2031

Electronic Weighing Machines Market size was valued at USD 3.43 billion in 2019 and is poised to grow from USD 3.66 billion in 2023 to USD 6.62 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

Due to rising economic activity, technological developments in laboratory balances and scales, and the growing requirement to maintain process precision, electronic weighing devices are becoming more and more in demand in the commercial and residential sectors. Electric weighing machine usage and penetration are expanding as a result of reasons including dependability, precision, durability, portability, ease of calibration, and other functionality. These weighing devices also include numerous units of measurement, allowing for the measurement and conversion of units into others like grammes and ounces. The aforementioned factor is causing consumers to prefer digital/electronic weighing devices over traditional ones.

Growing commercial activity is another factor driving the market's expansion over the forecast period. The National Institute of Standards and Technology (NIST), the National Conference on Weights and Measures (NCWM), and the National Type Evaluation Program are just a few of the certificates that consumers appreciate when buying products (NTEP).

To increase their market share, businesses are increasingly concentrating on the release of small, portable products. To attain more precision, businesses are putting a lot of effort into integrating cutting-edge technologies. For instance, Truweigh LLC introduced a water-resistant digital pocket scale in April 2019. Additionally, the item has an IP65 classification, which makes it dust-proof. The pocket scale has a platform made of black titanium chrome and a white backlit LCD. Due to its space-saving features, portability, and comparable accuracy, portable weighing machines are primarily used by home-based business owners.

The need for power to operate the product, which makes it impossible to use electronic weighing machines without it, is one of the main issues limiting the market growth for electronic weighing scales. Customers are choosing a manual or spring weighing machine as a result of this factor. Therefore, it's possible that developing nations with a lack of electricity won't see a higher rate of product uptake. Major obstacles for the market in developing nations include expensive prices, electricity expenses, and maintenance costs when compared to traditional and manual weighing machines.

US Electronic Weighing Machines Market is poised to grow at a sustainable CAGR for the next forecast year.