October 11, 2017 - 11:43 AM EDT
Print Email Article Font Down Font Up
Container Weighing System Market - Drivers and Forecasts by Technavio

LONDON

Technavio analysts forecast the global container weighing system market to grow at a CAGR of over 6% during the forecast period, according to their latest report.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171011005837/en/

Technavio has published a new report on the global container weighing system market from 2017-2021.  ...

Technavio has published a new report on the global container weighing system market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global container weighing system market for 2017-2021. To calculate the market size, Technavio analysts consider the revenue generated from the implementation of software-defined storage solutions among enterprises worldwide.

Container weighing systems comprise a significant part of the global transportation sector. Checking the weight of containers before they are loaded is integral to avoid accidents caused by overloading. Various modes of transportation have their weight parameters, but the extensive use of containers provides a standard metric of measurement, helping the extensive adoption of container weighing systems.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three factors that are contributing to the growth of the global container weighing system market:

  • Rising volume of international maritime trade
  • Steady adoption of automated facilities at major ports
  • Mandatory SOLAS regulation

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Rising volume of international maritime trade

Maritime trade is the most commonly used mode of transportation in international trade, representing about 85% of total transport volume. The demand for both maritime transport services and logistics services comes from the global economic growth and the need to carry out international trade. As a result, the global shipping industry and maritime transport activities (notably seaborne trade) were affected by the reduction in the global GDP and international trade volumes in 2009.

Sharan Raj, a lead warehouse and storage research analyst at Technavio, says, “The major unloading areas included North America, Europe, Japan, and South East Asia. With the strong demand for oil from China, India, Western Asia and Latin America, crude oil shipments to these regions rapidly started to increase in number. Regarding the total volume of cargoes loaded regardless of their type, the global seaborne trade loaded goods dropped from 8.2 billion tons in 2008 to 7.8 billion tons in 2009, before rising to 9.17 billion tons in 2012.”

Steady adoption of automated facilities at major ports

The steady adoption of automated facilities at several major ports is likely to have a crucial impact on the global container weighing system market. Due to the large-scale use of containers in marine trade, ports are the leading application sectors of the market and are likely to retain a dominant share of the market during the forecast period.

“Ports undergoing automation-oriented upgrades are expected to incorporate container weighing systems in their automatic container handling systems during the forecast period. This can become a steady revenue source for the global container weighing system market during the forecast period. Container weighing is an emerging and increasingly-busy market,” adds Sharan.

Mandatory SOLAS regulation

The purpose of making the weighing of sea containers mandatory by IMO is to make the entire container supply chain safer. This regulation is expected to be issued by the International Convention for the Safety of Life at Sea (SOLAS Convention) because of some accidents involving container stack collapses and container losses.

To weigh a container and utilize the load information to update the stowage plan, containers must be weighed preferably at the completion of packing. Weighing export containers must be done sufficiently in advance for the stowage plan to be optimized. If the actual weight is not calculated at the completion of packing, the port is in a prime position to provide the service or verify the documented weight.

Top vendors:

  • Avery Weigh-Tronix
  • Conductix-Wampfler
  • Mettler-Toledo International
  • Rice Lake Weighing Systems

Browse Related Reports:

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (October 11, 2017 - 11:43 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice