Optical Belt Scale Market REPORT OVERVIEW
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The global optical belt scale market size was USD 11 million in 2021 and market is projected to touch USD 17.22 million by 2031, exhibiting a CAGR of 4.7% during the forecast period.
The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The optical belt scale is used to measure and report the flow rates continuously coupled with the totalized amounts of material that are supposed to be transported through a conveyor belt. By weighing the belt load and determining the belt speed, one may determine the weight of the material being conveyed. Depending on the needs of the customer and the characteristics of the material being conveyed, the conveyor belt's length and material may vary. For consumption and throughput measurements in manufacturing plants, internal discharge and supply balance, load limit signaling, batching, and control of metering hopper, belt scales are utilized in both production and logistics.
The volumetric material measuring belt scale from H-Sensortechnik blends innovation with accuracy. The Optical Belt Scale is the perfect alternative to conventional conveyor belt scales. It eliminates their drawbacks in the measurement of aggregate, soil and mulch, wood and biomass, garbage, and recycling. Through visualizations and a BI dashboard delivered with the help of Sensor Track, which is an information management tool used in tracking data, metrics, and KPIs related to the production performance and advanced analytics material throughput, Optical Belt Scales offers an operational insight to support lower costs and higher yields.
COVID-19 Impact: Supply Disruption Affected Market Growth during the Lockdown
The pandemic impacted every market and the machinery and equipment sector was also not an exception. The spread of COVID-19 resulted in stringent rules and guidelines to avoid the virus spread. These guidelines included shutting down the manufacturing industries, which affected the growth rate of the market. Disruption in manufacturing and supply chain was noticed. The workforce witnessed a downfall due to their health concern. Even though the pandemic supplemented most of the workforce to work from their homes, the limited budget deemed the work rate. The demand for machinery and equipment witnessed a downfall due to low manufacturing and supply.
LATEST TRENDS
"Various Features of the Product to Boost the Maximum Market Growth"
Precision weighing, high efficiency, enhanced throughput, and low cost of operation is anticipated to foster the optical belt scale market growth. These factors are increasing the popularity of the conveyor belt in the mining industry. Various companies are stepping ahead and replacing the conventional weighing mechanism coupled with conveyor belt scales to gain maximum growth in the market. The low cost of operating has become an additional feature that is projected to surge market growth in the forecast period. The equipment is also induced with innovative integrations in the conveyor belt. These factors are likely to foster growth in the market.
Optical Belt Scale Market Segmentation
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- By Type Analysis
By type, the market is segmented into measuring width: below 800mm, measuring width: 800-1300mm, and measuring width: above 1300mm.
- By Application Analysis
Based on application, the market is classified into mining, aggregate, wood & biomass, and others.
DRIVING FACTORS
"Rising Industrial and Manufacturing Industries in Regions to Aid Market Growth"
The optical belt scale market is expanding as a result of rising industrial and manufacturing output coupled with the rising food demand. Conveyor belt scales are becoming more and more common in the mining industry due to their low running costs, precise weighing mechanism, higher throughput, and high efficiency. Conveyor belt scales are increasingly being used in the mining industry to replace traditional weighing devices. The need for assembly line setup to increase throughput and cut costs is being driven by the necessity for bulk material handling and weighing, which is driving increasing demand for conveyor belt scale systems across sectors. These elements operate as propellants, pushing up demand for belt scales on a worldwide scale.
"Enhanced Features to Propel Product Demand"
The need for assembly line setup to increase throughput and lower overhead costs is being driven by the steady growth of industries and the necessity for weighing and handling the bulk material. This trend is anticipated to lead to a rise in the conveyor belt scale systems demand across various industries. As a result of strict government restrictions forcing businesses to concentrate on the quality of the production environment, the development of conveyor belt scale system’s portable cleaning solutions is projected to increase demand for the product in the food and beverage industries. Industrial Internet of Things (IoT) advancements are enabling end-user companies to automate industrial processes and collect data while maximizing belt scale performance, decreasing downtime, increasing throughput, and increasing throughput.
RESTRAINING FACTORS
"High Cost and Coping with Fast-Changing Technology to Limit Growth"
The cost of the optical belt scale is high, which is anticipated to restrict the adoption of the product in medium-sized industries. Moreover, the higher initial investment also limits the optical belt scale market growth and restricts market expansion. The rapidly changing technological landscape is forcing companies to consistently improve the already existing systems to balance a competitive edge in the global market. These factors are forecasted to impede the optical belt scale market growth.
Optical Belt Scale Market REGIONAL INSIGHTS
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"Europe to Lead the Market Due To Steady Adoption of the Product in Various Industries"
Europe is anticipated to hold the maximum part of the optical belt scale market share owing to the rising adoption of belt scales by various industries such as cement, logistics, energy & power, and mining. Additionally, higher demand for the optical belt scale has been noticed.
South Asia and Oceania are projected to be the fastest growing markets due to increasing demand for the product in the mining and booming industries of developing countries in the global market.
KEY INDUSTRY PLAYERS
"Key Companies to Focus On the Adoption of Long-Term Growth Strategies"
The market is made of various sized companies. The global market players are adopting organic and inorganic strategies to grow in the global market consistently. The key companies are also focused on expanding their product portfolio by launching advanced products in the market. The competitors are likely to target the various industries to enhance its sales. The competitors emphasized on research and development of the chemical to launch other advanced products. The manufacturers are focused on increasing the sustainability and cost of the product. The key competitors are striving for various growth strategies to gain market share.
List of Market Players Profiled
- H-Sensortechnik (Austria)
- Sick (Germany)
- Indurad (Germany)
- Walz Scale (U.S.)
- LASE Industrielle Lasertechnik GmbH (Germany)
- Waylog (U.A.E)
- LASERTRONIK GMBH (Austria)
- PASSAT (France)
- EmWea (Netherlands)
- Nanjing Vedomis group (China)
- Chenan (China)
- HENSEWAGETECHNIK
REPORT COVERAGE
The report offers a comprehensive analysis of the market based on various aspects such as:
- Emerging trends which are anticipated to foster market growth.
- Factors expected to drive maximum growth.
- Various growth opportunities coupled with the emerging trends.
- Factors that may limit the market growth.
- Key players and their headquarters.
- An in-depth analysis of the market segments is provided in the report.
The report comprises all possibly includable aspects to offer an in-depth analysis of the market. The study provides precise data on market insights. It provides an examination of a competitive advantage that is thought to be important for the development of business strategy. The paper outlines several avenues for the sector's expansion and development.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 11 Million in 2021 |
Market Size Value By |
US$ 17.22 Million by 2031 |
Growth Rate |
CAGR of 4.7% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the optical belt scale market expected to touch by 2031?
Based on our research, the optical belt scale market is projected to touch USD 17.22 million by 2031.
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What CAGR is the optical belt scale market expected to exhibit by 2031?
The optical belt scale market is expected to exhibit a CAGR of 4.7% by 2031.
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What are the segments of the optical belt scale market?
By type, the optical belt scale market is segmented into measuring width: below 800mm, measuring width: 800-1300mm, and measuring width: above 1300mm. Based on application, the market is classified into mining, aggregate, wood & biomass and others.
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Which are the driving factors of the optical belt scale market?
Rising industrial and manufacturing industries in regions to aid market growth and enhanced features to propel product demand are the factors driving the optical belt scale market.
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Which are the top companies operating in the optical belt scale market?
H-Sensortechnik, sick, Indurad, Walz Scale, LASE Industrielle Lasertechnik GmbH, Waylog, LASERTRONIK GMBH, PASSAT, EmWea, HENSEWAGETECHNIK, Nanjing Vedomis group, and Chenan are the top companies operating in the optical belt scale market.