Industry Outlook and Trend Analysis
The global Load Cell Market was worth USD 1.69 billion in 2014 and is expected to reach approximately USD 2.33 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.64% during the forecast period. Growing demand for load cells in the healthcare industry is foreseen to build interest for load cells. Medical devices and equipment including dialysis machines, implantation pumps and surgical instruments among others are expanding the interest for load cells. The development of haemodialysis machines including home haemodialysis (HHD) is driven by developing patient populace, substitution of existing HHD machines among others. Rising requirement for HHD machines (which serves just one patient) will expand interest for load cells.
Load Cell Market Segmentation
The Load Cell market is classified by Technology, Type and End User Industry. On the basis of technology the load cell market is segmented into Digital Load cell and Analog Load cell. Based on type the load cell market is segmented into Single-point, S-type, and Shear Beam. On the basis of end use industry the market is segmented into agriculture equipment, bulk material handling, healthcare, aerospace & defence, oil & gas, automotive, retail and others. Analog load cells are the most usual load cells found in the market and accounted for a market share of more than 80%. There is a developing demand for load cells in testing applications crosswise over aerospace and aviation sector. Load cells are useful as a part of outline and testing amid beginning plan, pre-flight and in-flight stages.
Regional Outlook and Trend Analysis
Geographically, the worldwide market for load cells has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Among these, Europe has obtained the main position, because of the expanded usage of these cells in the automotive, oil and gas, aviation and safeguard, and the mass material handling enterprises. The existence of an expansive pool of organizations, taking into account mass material handling of ventures, for example, the cement, coal and iron metal mining, and railroad divisions, is additionally anticipated that would bolster the Europe market for load cells in the years to come.
The leading players in the market are ZH Electronic Measuring Instruments Co, Novatech Measurements Ltd, Thames Side Sensors India Pvt Ltd, Flintec Group AB, Honeywell, Vishay Precision Group, Mettler Toledo, Precia, Thames Side Sensors India Pvt Ltd, HBM and Yamato Scale. The market is extensively competitive and different business techniques are being implemented by these leading players and their current advancements in the field of load cells. Further, the report incorporates the market appeal examination of various types, innovation on of load cell and understanding into the significant application area of the load cells.
The load Cells Market is segmented as follows-
Digital Load Cells
Analog Load Cells
By End Use Industries:
Bulk Material Handling
Oil & Gas
Aerospace & Defence
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?