Overview:

A load cell is a type of transducer that converts forces such as tension, compression, pressure, and torque into electrical signal that can be measured and recorded by the user. There are different types of load cells such as hydraulic, pneumatic, and strain gauge. The working of the load cell differs according to type of load cell.

Market Dynamics:

Rapid technological advancements in electronic sector, high development in modern day electronics, coupled with wide applicability of load cells in various end use industries such as medical & pharmaceuticals, food & beverage, automotive, aerospace & defense, etc. due to high data accuracy are major factors fueling growth of the global load cell market. In addition, high investment by major players in R&D activities and approach towards developing the measuring & weighing accuracy of product are other factors expected to support growth of target market. 

Increasing partnership and agreement activities for profit is another factor expected to boost the growth of global market. However, easy availability of substitutes is a major factor expected to restraint the growth of global load cell market.

Key Trends:

Players are focusing on product development activities and with introduction of innovative products they are attracting new customers, this is the key trend observed in the target market. In 2019, Hottinger Baldwin Messtechnik GmbH, a global manufacturer of sensor and instrument launched a single-point load cell. This expected to help the company to enhance the product portfolio and increase the customer base.

Regional Analysis:

For detailed understanding of market dynamics, the global load cell market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major revenue share in 2018, owing to high demand for load cell from various end use industries such as healthcare, automotive, etc. In addition, flourishing food & beverage sector in the region, coupled with demand for advanced load cell for better measuring accuracy is another factor expected to further support the growth of target market.

Scope of the Report:

Detailed Segmentation:

Global Load Cell Market, By Type:

• S-type
• Single-point
• Shear-beam

Global Load Cell Market, By Application:

• Automotive and Transportation
• Oil and Gas
• Healthcare
• Industrial Manufacturing and Material Handling
• Defense and Aerospace
• Construction

Key Players Covered:

Key players operating in the load cell market includes, Measuring Instruments Co. Ltd., Flintec Group AB, Zhonghang Electronic Measuring Instruments, Vishay Precision Group Inc., Hottinger Baldwin Messtechnik GmbH, OMEGA Engineering Inc., Honeywell International Inc., Thames Side Sensors Ltd., and Novatech Measurements Ltd.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Load Cell Market by type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global load cell market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.