North America weighing and inspection market is projected to grow with healthy CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The weighing and inspection market is a highly concentrated market which includes key players and local players. The market has witnessed increased strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to increased sales of high-end equipment due to the benefits such as accuracy and precision provided by the equipment, rising usage of weighing and inspection machines for quality check of cereals and grains in food industry and also due to rising demand of inspection devices in food industry.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio in order to meet the rising demand of innovative technology. For instance, In May 2017, Loma Systems launched the new IQ4 series of next generation metal detection systems. The cutting-edge technology offers improved sensitivity compared to previous models and a plethora of design to deliver optimum production efficiencies. The product launch with modifications in market is helping other manufacturers in different field such as agricultural and others to enhance their business. Due to these products they are able to provide safe and better quality of products.
Thermo Fisher Scientific Inc., dominated the weighing and inspection market and accounts for the highest market share in 2018 which is followed by Medtronic, Agfa-Gevaert Group., iHealth Labs Inc., OMRON Corporation, Boston Scientific Corporation, BioTelemetry, Inc., BIOTRONIK SE & Co. KG, Honeywell International Inc., Epic Systems Corporation, Siemens Healthineers AG, Allscripts , McKesson Corporation, Koninklijke Philips N.V., Abbott, IBM Corporation, GENERAL ELECTRIC COMPANY, Cerner Corporation, Cisco Systems, Inc., Qualcomm Technologies, Inc. and among others.
Thermo Fisher Scientific Inc.:
Thermo Fisher Scientific Inc. founded in 1956, headquartered in Massachusetts, U.S. The company operates through four business segments, namely, laboratory products and services, life sciences and solutions, analytical instruments and speciality diagnostic. Life sciences solutions provides an extensive portfolio of instruments, reagents and consumables used in medical research and biological, discovery and production of vaccines and new drugs as well as diagnosis of diseases. Analytical instruments segment provides a broad offering of consumables, instruments, software and services that are used for a range of applications in the laboratory, on the production line and in the field. Specialty diagnostics segment provides a wide range of diagnostic test kits, reagents, instruments and associated products used to increase the speed and accuracy of diagnoses.
For instance, in September 2017, Thermo Fisher launched the APEX 500 metal detector, the latest and advanced metal detection platform for helping the food and consumer goods manufacturers for the ferrous, non-ferrous and stainless steel metal contaminants in products to improve safety for their customers.
Thermo Fisher Scientific Inc. has operating companies across the United States, Europe, Western Hemisphere, Africa, and Asia-Pacific. Some of its subsidiaries are Thermo Electron Australia Pty Limited (Australia), Thermo Electron Holdings SAS (France), Thermo Finland Holdings LLC (Delaware), Kendro Laboratory Products (H.K.) Limited (Hong kong), Niton Europe GmbH (Germany), Thermo Ramsey S.A. (Spain) and others.
Minebea Mitsumi Inc.:
Minebea Mitsumi Inc. was founded in 1951 and headquarters in Nagano, Japan. Minebea Mitsumi Inc. is a manufacturer of wide range of high-precision parts such as machined components, electronic devices and components along with electrical and communication equipment parts, and the office automation and information technology, personal computers and related products, automobile, aerospace, home appliances, healthcare and other industries. The company operates its business in three business segments such as machined components, electronic devices and components, and MITSUMI business. The company operates its business in food & beverage industry, bulk material receipt & storage, automated production, manual production, and packaging. The company has launched a product that has increased company’s revenue.
For instance 2017, in June, Minebea Intec launched the X-ray inspection system Dymond Bulk. The X-ray inspection device is mainly suitable for processes between incoming goods and packaging lines in the food industry.
Minebea Mitsumi Inc. is operating its business in Japan, China, Thailand, U.S., and other countries. The company has many subsidiaries and some of them are Mitsumi Electric Co., Ltd. (Japan), U-Shin Ltd. (Japan), NMB Technologies Corporation (U.S.), NMB-Minebea Thai Ltd. (Thailand), myonic GmbH (Germany) and others.
Mettler Toledo was founded in 1989 and is headquartered in Ohio, U.S. Mettler Toledo offers precision instruments and services for wide range of applications. The company is involved in research and development, quality control, production, logistics and retail of various items to the customers around the world. The company operates its business in the laboratory, industrial, and retail segment. The weighing and inspection equipment are considered as the main equipment in all the segments. The company has 5 business segment such as U.S. operations, Swiss operations, western European operations, Chinese operations, and, other. The U.S. operation segment has decreased by 7.0% from the last year due to initial costs associated with a new manufacturing facility and new product introductions in this segment. Swiss operations segment has been increased by 9.0% from the last year due to expansion initiatives, and favourable currency translation.
In August 2017, METTLER TOLEDO launched the OIML-Compliant Weights which is balance testing in production environments. The weight cavity's threaded aperture enables adjustment via gentle twist without the need for specialized equipment, saving time, expense and storage space. The launch of the product in the market helped other manufacturers a better option to provide safe and high quality product.
The company operates its business in the USA, Germany, UK, Switzerland, other European countries, and also the People's Republic of China. The company has many subsidiaries and some of them are Ohaus (U.S.), Anachem Limited (U.K.), Henry Troemner LLC (U.S.), Eagle Product Inspection Llc (U.S.), Biotix, Inc. (U.S.) and others.
Europe and North-America Weighing and Inspection Market – Industry Trends and Forecast to 2025