The spring balance market is anticipated to grow at a CAGR of 3.8 % during the forecast period (2022-2028). A spring balance (also known as a newton meter) is a weighing scale. They are widely used to determine the amount of force applied to an item. This force is commonly expressed in Newtons and is equivalent to an object’s weight. The weight of an item is equal to its mass multiplied by gravity (W=mg). The major factor driving the growth of the market is the increasing demand for spring balances to measure the weight of various different materials globally during the forecast period.
The global spring balance market is segmented based on the type and application. Based on the type, the market is sub-segmented into the mechanical scale and digital scale. Based on the application, the market is sub-segmented into households, retail shops, laboratories, and others. Among these segments, the digital scale segment is expected to propel the growth of the market due to the increasing usage and demand for digital scale spring balances for accurate measuring of materials globally. The digital scales measure weights even in grams and provides correct reading digitally. The digital scales are the better option for accuracy and functionality over mechanical scales which is expected to contribute to the growth of the market during the forecast period.
The major market players in the global Spring Balance market are Powertech Industrial Equipments, Ace Inc., Endo Kogyo India Pvt. Ltd., A&D Engineering, Fairbanks Scales, Adam Equipment, Essae group, KERN & SOHN GmbH, Contech Instruments Ltd., Avery Weigh Tronix LLC, Rice Lake Weighing Systems, Doran Scales Inc., among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in February 2022, RS PRO launched spring balances that may be used to quantify force and mass. These balances are chemically and impact-resistant thanks to the polycarbonate body and stainless-steel spring and hook. For easy identification, each measurement range has a separate color code. For instance, in September 2019, High-Resolution Dynamometers – Spring Balance was introduced by Eisco. EISCO’s metallic and tubular Newton spring balances have High-Resolution Dynamometers that are color-coded for ease of use and scale in grams and Newtons.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Powertech Industrial Equipments, Ace Inc., Endo Kogyo India Pvt. Ltd., A&D Engineering, Fairbanks Scales, Adam Equipment, Essae group, KERN & SOHN GmbH, Contech Instruments Ltd., Avery Weigh Tronix LLC, Rice Lake Weighing Systems, Doran Scales Inc., among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Spring Balance Market Report by Segment
By Type
- Mechanical Scale
- Digital Scale
By Application
- Household
- Retail Shops
- Laboratories
- Others
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