Precision Balances Market, by Product Type (Assisted Precision Balances, Manual Precision Balances, and Automatic Precision Balances), by Applications (Industrial, Research Institute, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

  • To Be Published : Oct 2018 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Precision balances are also known as top loading balances. It is used to weigh quantities to a precise number, usually from milligram to kilogram. They are more precise than the average bench or compact scale, but not as precise as analytical balances. Also, precision balances tend to have more features compared to bench scales or compact balances. All precision balances have RS-232 interfaces for communicating data to computers and printers. Precision balances have various application across different industries such as productions in pharmaceutical industry, food industry, and research center.

Increase in Demand for High Accuracy Weighing Products is One of the Major Factors Driving Growth of the Precision Balance Market

Rising demand for high accuracy precision balances in various sectors such as research center, laboratories, pharmaceutical industry, universities, and others is driving growth of the market. Precision balances are widely used in the pharmaceutical industry to precisely measure the ingredients so they may manufacture the exact products as slight variations in the ingredients may alter the combination of the desired products. According to International Federation of Pharmaceutical Manufacturers & Associations (2018), the global pharmaceutical market will reach nearly US$ 1,430 billion by 2020. Hence, growing demand for high accuracy precision balances is fueling growth of the market.

Regional Analysis of Precision Balances Market

Growing demand for modern retail stores such as departmental stores and mega marts in the European region drives growth of the precision balances market in the region. Furthermore, precision balances enhance shopping experiences of customers, such as self-weighing machines integrated with barcode and receipt number by saving time.

Global Precision Balances: Competitive Landscape

Some of the key players operating in the global precision balances include Sartorius Group, Mettler Toledo, Kern & Sohn GmbH, Ohaus, Sauter GmbH, Sansui Electronics (P) Ltd., Shimadzu Corporation, Wensar, MRC Ltd., and Adam Equipment S.A. (Pty) Ltd.

Global Precision Balances Market: Taxonomy

  • On the Basis of Product Type
    • Assisted Precision Balances
    • Manual Precision Balances
    • Automatic Precision Balances
  • On Basis of Applications
    • Industrial
    • Research Institute
    • Others
  • On the Basis of Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East
    • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
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  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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