The market is expected to witness significant growth in the coming years owing to stringent regulations worldwide to reduce the maritime accidents by implementing SOLAS regulations.
The adoption of container weighing systems can help prevent the occurrence of accidents, particularly during transportation through ships. Overloaded ships cannot withstand harsh weather and rough seas or currents. The increasing automation across the ports and manufacturing areas facilitates the adoption of container handling equipment integrated with weight measurement systems
The container weighing system market is expected to be worth USD 3.95 Billion by 2022, at a CAGR of 4.6% between 2017 and 2022.
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North America held the largest share of the container weighing system market in 2016. Stringent regulations for the safety transportation and increasing automation across the various industry verticals are the driving factors for the growth of the container weighing system market in North America.
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 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.
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.
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