Load Cells Market: Growing Demand for HHD Machines and Infusion Pumps to Reflect Positively on Market’s Rise

The global load cell market is witnessing considerable rise in its valuation, thanks to the increasing demand for load cells in healthcare sector. The escalating need for home hemodialysis (HHD) machines has been the key factor behind the augmenting usage of load cells in the medical and healthcare industry. The market is also gaining substantially from the rising application of load cells in the testing applications across the aviation and the aerospace industries across the world.

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.

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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.

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.

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The presence of a large pool of companies, catering to bulk material handling industries, such as the cement, coal and iron ore mining, and railway sectors, is also expected to support the Europe market for load cells in the years to come. Germany and the U.K. are anticipated to surface as the prime domestic players in this regional market over the next few years.

The report considers the bulk material handling, retail, healthcare, agriculture equipment, oil and gas, aerospace and defense, and the automotive industries as the key end users of load cells. The oil and gas industry has been recording a greater demand for load cells than other end user and is expected to continue doing so over the forecast period, states the research report.

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