Sensor Analytical Balances Market Size, Share, Growth, and Industry Analysis, By Type (Weighing Capacity 500 G Below, Weighing Capacity 500-1000 G, Weighing Capacity 1000-1500 G, Weighing Capacity 1500 G Above), By Application (Sample Preparation, Differential Weighing, Density Determination, Interval Weighing, Pipette Routine Testing, Others) and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

SENSOR ANALYTICAL BALANCES MARKET REPORT OVERVIEW

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The global sensor analytical balances market size was USD 84 million in 2022 and will touch USD 114.3 million by 2029, exhibiting a CAGR of 4.4% during the forecast period.

Laboratory analytical balances are scientific instruments used to accurately measure the mass of substances in a laboratory environment. These scales provide accurate measurements and are commonly used in industries such as pharmaceuticals, chemicals, research and development, and quality control.

The rise in demand for smart sensors across various end-user industries is leading to an increase in the market value. Growing safety and security concerns are fueling the demand for smart sensors across the globe. The increasing density of the Internet, combined with the widespread use of the Internet of Things, creates additional profitable growth opportunities for the market. Increased investments in research and development know-how in this direction indirectly promote the growth of the market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a negative impact on the laboratory scales and balances, as the supply chain has been disrupted and has led to a global shortage of laboratory instruments such as laboratory scales and balances. However, the demand for laboratory scales and balances has increased in the post-pandemic situation due to the acceleration of research and development. The increase in research and development increases the use of laboratory balances and scales in the measurement of the analyzed products.

LATEST TRENDS

"Growing Automation Industry Adoption will Drive Market Growth"

The market growth has been significantly influenced by the increasing adoption of the automation industry and various technical advancements associated with various products. Advances in automation, robotics and RFID technology enable product precision that reduces operational costs. The market is driven by industrial automation and the desire for smaller consumer devices such as wearable and IoT-connected devices across geographies, which are expected to create opportunities for market growth.  The market for laboratory analytical balances is expected to grow significantly in the coming years. Increasing demand for accurate measuring and weighing in various industries is one of the major factors driving the sensor analytical balances market growth. Analytical balances offer high precision and accuracy, which enables accurate formulations and measurements, which encourages their adoption.

SENSOR ANALYTICAL BALANCES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Weighing Capacity 500 G Below, Weighing Capacity 500-1000 G, Weighing Capacity 1000-1500 G, Weighing Capacity 1500 G Above.

An analytical balance is a highly sensitive laboratory instrument that can accurately measure mass in the sub-milligram range with high accuracy. Analytical balances have different weighing capacity like 100-500 g and a readability of 0.1-0.001 mg and 1500 G Above.

• By Application

Based on application the global market can be categorized into Sample Preparation, Differential Weighing, Density Determination, Interval Weighing, Pipette Routine Testing, Others.

Analytical balances are high-precision laboratory scales designed to accurately measure the mass of an object. Differential dosage scales are chosen when accurate weighing of all types of bulk materials and regulation of product flow is required. Bulk products are assumed to flow freely through vibrating feeders.

This density determination kit can be used to measure the density of a solid or liquid. However, measurement results may be affected by various factors that may cause errors, so we cannot guarantee these results.

For electronic and digital scales, this is the smallest change in mass that corresponds to a change in the displayed value. In other words, it is the amount by which the weight increases when weight is added or removed.

Routine testing (also called a pipette test, performance test or quick check) ensures that the pipette consistently produces accurate and reliable volumes between calibrations.

DRIVING FACTORS

"Growing Technological Advancements Augment Market Growth"

The development of technologically advanced automation solutions and the integration of Industrial Internet of Things (IoT) and cloud services are also contributing factors to growth. These solutions provide advanced remote site support and monitoring, cloud-based monitoring, intelligent event processing and unmanned operational management. Over time, industries and dependence on the use of autonomous control functions has increased significantly. Sensors focused on rollover protection, chassis leveling and tilt warnings have become central to various industries due to demand for these features and vehicle efficiency, safety and driver comfort that is expected to continue to grow market growth. The growth of the laboratory scales and balances market is expected to be driven by the high potential of developing countries due to increasing demand for laboratory scales and balances in research laboratories and academic institutions, increasing research and development activities and growth in research and development laboratory efficiency. With the ever-increasing demand for efficiency, research organizations are moving to advanced systems to provide visibility into laboratory operations and support decision making. The need for comprehensive imaging of all laboratory material has become significantly more demanding. Therefore, advanced laboratory monitoring and management capabilities meet this need, bringing clarity and control to laboratory operations.

"Significant Growth In The Demands Of Sensor-Rich Applications to Expand The Market"

The need for low latency data analysis is increasing with the rise of real-time applications such as autonomous vehicles and industrial automation. Intelligent sensors allow data to be processed closer to the source, which reduces the time needed to make decisions. Developments in sensors that provide consistently accurate and precise measurements have been critical in driving demand for new applications, further boosting the market and growth. Additionally, tightening regulations and standards in industries such as the pharmaceutical and food and beverage industries are driving the adoption of laboratory analytical balances. These instruments help companies meet regulations by ensuring accurate measurements and maintaining quality standards.

RESTRAINING FACTORS

"High Implementation Costs to Impede Market Growth"

The price of smart sensors is very high in the market. Automotive systems and payers are under cost pressure and increasing demand for cost-effective solutions. Manufacturers must balance innovative implants and; development at a reasonable cost to meet market demands. Also, deployment costs are increasing globally, which is expected to curb the market growth.

SENSOR ANALYTICAL BALANCES MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market due to Presence of a Large Consumer Base"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America was the dominant region and is expected to remain dominant across all sensor analytical balances market share during the forecast period as more product testing is done in laboratories, the number of market participants increases, and the number of products available increases within the urban districts. The market dominance of North America is mainly due to the presence of strict regulatory guidelines and comprehensive product quality compliance in the target end-user industry, strong presence of major market players in the region and growing research activities of biopharmaceutical companies.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The sensor analytical balances market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Labdex (U.K.)
• US Solid (U.S.)
• Labomiz Scientific (U.S.)
• RADWAG (Poland)
• Schuler Scientific (U.S.)
• Kalstein France (France)
• Mettler Toledo (U.S.)
• AllScales-Europe (Henk Maas ® Weegschalen)
• Labtron Equipment (U.K.)
• KERN & SOHN GmbH (Germany)
• PCE (U.K.)
• Hochoice Apparatus (Shanghai)

INDUSTRIAL DEVELOPMENT

October 2020: Smiths Detection Inc. announced that it had been awarded a $90.8 million IDIQ contract to manufacture JCAD (Joint Chemical Agent Detector) adapters.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.