According to a new market report published by Credence Research, Inc., “Load Cells Market (By Type (S-type, Single-point, Shared-beam, and Others), By End-use Application (Automotive and Transportation, Oil and Gas, Healthcare, Industrial Manufacturing and Material Handling, Defense and Aerospace, Construction, and Others), By Technology (Analog Load Cells and Digital Load Cells)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025” the global load cells market is expected to grow at a compound annual growth rate of 4.1% during the forecast period 2017 – 2025.
Browse the full Load Cells Market- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025 report at http://www.credenceresearch.com/report/load-cells-market
A load cell is a kind of force sensor that changes the deformation of a material into an electric signal. In short load cells are sensors that convert weight or force into electric signal. Thus, load cells are key component of any weighing system. A substantial amount of research made in the field of transducers has drastically reduced the number of instrumental errors, which, in turn has supported the market growth. As of 2015, analog load cells led the overall load cells market worldwide. Analog load cells accounted for over three-fourth of the global market revenue in the same year. On the contrary, digital load cells are poised to witness superior growth during the forecast period 2017 – 2025. Growing need for precision weighing, especially in heavy lifting applications is expected to drive demand for digital load cells globally.
The global load cells market is relatively matured and fragmented. The degree of competition which is moderate in the current scenario is expected to intensify with increasing number of both domestic and international players. In order to sustain and remain competitive in this relatively matured market, focus on product innovation remains the cut-throat strategy for manufacturers in the market. Product innovation has been majorly in terms of functional features including improving load cell enclosure designs. Another important business strategy requisite to sustain in this matured market is to focus on offering customized products along with efficient customer-centric post sales service. Some of the leading manufacturers identified in the global load cells market include Vishay Precision Group Inc., OMEGA Engineering Inc., FUTEK Advanced Sensor Technology Inc., Hottinger Baldwin Messtechnik GmbH, Flintec Group AB, Thames Side Sensors Ltd., Yamato Scale Co. Ltd., Zhonghang Electronic Measuring Instruments Co. Ltd., Mettler Toledo International Inc., Novatech Measurements Ltd., and Precia Molen among others.
- Growing demand for load cells with extended overload protection
- Resurgence in the industrial sector post economic slowdown and investments in automation technologies driving market demand
- Growing demand from healthcare, aerospace, and logistics segment
- Need for compression and tension load cells in load monitoring applications
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