The global specific gravity bench apparatus market is expected to grow at a CAGR of 1.8% during the forecast period. The market was valued at US$ 65.7 Mn in 2017, and is projected to grow significantly to reach US$ 78.4 Mn by 2027 due to an increase in the demand of the specific gravity bench apparatus in laboratories and due to the rapid growth of construction industry.
In this report, FMI has segmented the global specific gravity bench apparatus market on the basis of component type, end-user, sales channel and region. By component type, the specific gravity bench apparatus market is segmented into buoyancy balance, specific gravity tank, weighing cradles, specific gravity frame, heaters, circulators, thermometers and other accessories. The heater sub-segment of the specific gravity bench apparatus market is expected to grow at a relatively higher CAGR owing to the high maintenance of heaters in the specific gravity bench apparatus
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Based on the sales channel, the specific gravity bench apparatus market is sub-segmented into OEMs, online sales and resellers. Rapid increase in Internet usage and growth in the number of e-commerce websites are some of the major factors expected to promote the growth of the online sales sub-segment of the specific gravity bench apparatus market.
Furthermore, the OEM sub-segment of the market has a relatively higher CAGR. However, the online sale sub-segment of the market is expected to capture the largest market share of the global specific gravity bench apparatus market.
According to the FMI analysis, Humboldt Mfg. Co.; Gilson Company, Inc.; Cooper Technology; Controls S.p.A. and Durham Geo-Enterprises, Inc., are among the leading companies of the specific gravity bench apparatus market. These companies constitute a market share of around 40% of the specific gravity bench apparatus market.
Regional Outlook Analysis: Specific Gravity Bench Apparatus Market
Furthermore, on the basis of geography, the specific gravity bench apparatus market is sub-segmented into North America, Latin America, Europe, Japan, APEJ (the Asia Pacific Excluding Japan) and Middle East & Africa. The specific gravity bench apparatus market in North America is expected to dominate the global specific gravity bench apparatus market due to the presence of a large number of manufactures in the region.
According to FMI analysis, long-term contracts with business partners are likely to increase revenue. Also, customization requirements from the client also results in adoption of innovation in the components and better innovation strategies, which is expected to enable the manufacturers of specific gravity bench apparatus to reach new growth markets and to encourage the production of the components of these apparatus.
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Key Strategic Insights Drawn from the Competition Analysis
The leaders operating in specific gravity bench apparatus landscape hold a cumulative revenue share of over 35%, at present. FMI identifies that the players such as Gilson Company, Inc., Humboldt Mfg. Co., Durham Geo-enterprises, Inc., and Cooper Technology and Control S.p.A. secure the top performing positions at a global level owing to their highly diverse product offering portfolios.
- Long-term contractual alliances with investment partners for effective RoI growth
- Growing focus on the offerings that cater to product customization requirements
- Strategic acquisitions of businesses as well as specific product lines for an enhanced outreach to new growth markets
Key Segments
By Product Type
- Buoyancy Balance
- Specific Gravity Tank
- Weighing Cradle
- Specific Gravity Frame
- Heater
- Circulator
- Thermometer
- Others Accessories
Key Regions
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- APEJ
- China
- India
- Australia
- ASEAN
- Rest of APEJ
- Japan
- MEA
- GCC Countries
- South Africa
- Israel
- Rest of MEA
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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