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Load Cells Market

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Load Cells Market | Vishay Precision Group Inc., Flintec Group AB, OMEGA Engineering
Inc., FUTEK Advanced Sensor Technology Inc.
With a number of players, the global load cells market is demonstrating a highly fragmented
business landscape, thanks to the presence of numerous market players and intense competition
between them. In 2015, the top three participants, namely, PreciaMolen, Mettler-Toledo
International Inc., and Vishay Precision Group Inc., accounted for only 20% of the overall
market and the scenario is likely to remain more or less same in the years to come. Currently, the
leading players in this market are relying on innovation and technological advancements for the
growth in their businesses. However, over the coming years, they are likely to increasingly
involve into partnerships, mergers, and acquisitions to expand their reach across the world, notes
the market study.
According to the research report, the global market for load cells is anticipated to expand at a
CAGR of 3.50% between 2016 and 2024, increasing the opportunity in this market from US$1.8
bn in 2015 to US$2.5 bn by the end of the period of the forecast. Hitherto, analog load cells have
been reporting a greater demand than digital cells. However, thanks to the increasing digitization
across the world, the demand for digital load cells will also witness a significant rise in the years
to come. In terms of the geography, Europe has acquired the dominant position in the global
market and is expected to remain seated here over the next few years, states the research report.
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4
Medical and Healthcare Sector to Create Lucrative Growth Opportunities
“With the increasing usage of load cells in the medical and healthcare sector, thanks to the rising
demand for home hemodialysis (HHD) machines, the global market for load cells is observing a
tremendous growth,” says an analyst at TMR. In addition to this, the market is expected to gain
substantially from the augmenting need for infusion pumps, owing to the surge in the prevalence
of chronic diseases among people, expanding base of geriatric population, and the escalating
number of surgical procedures, in the near future, reports the research study.
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Decreasing Demand for Analog Load Cells to Hamper Growth
On the other hand, the global load cell market may face significant challenge in the near future
from the decreasing demand for analog load cells across a number of industries over the next few
years. However, the growing uptake of digital load cells in the heavy lifting industry will
rationalize the impact of the hindering factor in the years to come, notes the market report.
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monali raghu
monali raghu349   documents Email
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