“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 expected to be worth USD 3.95 Billion by 2022, growing at a CAGR of 4.6% between 2017 and 2022.
Based on offering, weighbridges would hold the largest market size during the forecast period. The functional benefits such as load cells in weighbridges enable the end user to measure the weights accurately. Moreover, weighbridges are considered the legal weight measurement equipment across industry verticals and the use of weighbridges is the traditional method to measure the weights.
The ports vertical is expected to hold the largest market share between 2017 and 2022. Ports account for the highest container traffic in 2016 and are expected to lead with the increasingly stringent regulations for enhancing the maritime safety, which requires the use of container weighing systems to measure the verified gross mass of the container.
“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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