Load Cell Market Size, Share, Trends and Forecast 2016 - 2024 | Honeywell International Inc. (the U.S.), Vishay Precision Group (VPG) (the U.S.), Flintec Group AB (the U.K.), OMEGA Engineering Inc. (the U.S.)

The opportunity in the worldwide market for load cells is likely to increase at a CAGR of 3.50% from 2016 to 2014, surging from US$1.87 bn in 2015 to US$2.55 bn by 2024. With the increasing demand for digital load cells in the heavy lifting industry, the future of this market looks thriving. However, its growth may be affected by the slowdown in the demand for analog load cells across various industries in the years to come.

Global Load Cell Market: Overview

Rising demand for load cells in healthcare sector is expected to increase demand for load cells. Medical devices and equipment including dialysis machines (in-center and in house hemodialysis), infusion pumps and surgical instruments among others are increasing the demand for load cells. The growth of hemodialysis machines including home hemodialysis (HHD) is driven by growing patient population, replacement of existing HHD machines among others. Rising demand for HHD machines (which serves only a single patient) will increase demand for load cells. The growth of infusion pumps will be driven by increasing occurrence of chronic diseases, geriatric population and rising surgical procedures.

There is a growing demand for load cells in testing applications across aviation and aerospace industry. Load cells are used in design and testing during initial design, pre-flight and in-flight stages. In the design phase, standard load cells are used for aircraft component-testing such as cockpit instruments, aircraft flaps, seat belts among others. In the pre-flight stage dual bridge load cells test the frame structure. In the in-flight stage, load cells monitor forces acting on airframe, pilot’s touch on control stick and aircraft flight control system.

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Rising demand for load cells in upstream, midstream and downstream activities are increasing the demand for load cells. Load cells are used in the construction of oil rigs. Rising demand for oil rigs will increase the demand for load cells. New, high specification and harsh environment oil rigs, replacement of old rigs, and interest of private equity to purchase oil rigs is expected to push the number for oil rigs which will positively impact the demand for load cells. Rising demand for oil rigs from shale gas producers in the U.S. is expected to increase demand for load cells.

Global Load Cell Market: Segmentation

By end use industries the load cell market is segmented into healthcare, agriculture equipment, oil & gas, aerospace & defense, automotive, bulk material handling, retail and others. Based on type, the market is segmented into single-point, s-type, shear beam and others. By technology the market is segmented into analog load cells and digital load cells. Analog load cells are the majority of load cells found in the market and command a market share of more than 80%.

Geographically, the global load cell market is segmented into Asia Pacific, Middle East & Africa (MEA), Latin America, Europe and North America. The market for load cell has been provided in (USD million) in terms of revenue as well as the CAGR for the forecast period of 2016 to 2024.

The report also provides assessment of different drivers that is impacting the global market, along with the restraints and opportunities that has also been covered under the scope of this report. All these factors helps in determining different trends that has been impacting the overall market growth. Moreover, after taking into consideration all this factors, an extensive analysis of the region wise growth parameters of load cell market along with the overall assessment for the forecast period of 2016-2024 has been also been provided within this report.

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Global Load Cell Market: Competitive Analysis

The key players in the load cell market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of load cells. Further, the report includes the market attractiveness analysis of different types, technology on of load cell and insight into the major application area of the load cells.

Some of the leading players operating in the market are Honeywell International Inc. (the U.S.), Vishay Precision Group (VPG) (the U.S.), Flintec Group AB (the U.K.), OMEGA Engineering Inc. (the U.S.), FUTEK Advanced Sensor Technology (the U.S.), Zhonghang Electronic Measuring Instruments Co., Ltd. (ZEMIC) (China), Hottinger Baldwin Messtechnik GmbH (HBM) (Germany), Novatech Measurements Ltd. (the U.K.), Yamato Scale Co. Ltd (Japan), Thames Side Sensors Ltd. (the U.K.), Mettler Toledo International Inc. (the U.S.), Precia Molen (France) among others.

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The global load cell market has been segmented as follows:

By Technology

Analog Load Cells
Digital Load Cells
By Type

Single-Point
S-Type
Shear Beam
Others
By End-use Industries

Healthcare
Agriculture Equipment
Oil & Gas
Aerospace & Defense
Automotive
Bulk Material Handling
Retail
Others
By Region

North America
The U.S.
Canada
Mexico
Europe
U.K
Germany
France
Italy
Rest of Europe
Asia Pacific
Japan
China
South Korea
India
Rest of Asia Pacific
Middle East and Africa (MEA)
United Arab Emirates
Saudi Arabia
South Africa
Rest of MEA
Latin America
Brazil
Rest of Latin America

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