Load Cell Market Forecasts to 2028 – Global Analysis By Type (Strain Gauge Load Cell, Pressure Load Cell), Product ( S-Type, Dual-Shear), Weigh Capacity (Low-Capacity Load Cell, Medium-Capacity Load Cell) and By Geography

According to Stratistics MRC, the Global Load Cell Market is accounted for $4,968.60 million in 2021 and is expected to reach $6,944.85 million by 2028 growing at a CAGR of 4.9% during the forecast period. Load cells are connected to numerous measuring devices for measuring purposes, and to display, record, control, and keep track of the loads. Applications are diverse changing from small sensors for use in electronic scales, bath scales, game consoles and home electronics to those for common industrial uses such as truck scales, measuring systems in production lines, and tank scales.



Market Dynamics:

Driver:

Growing Demand in Oil & Gas and Healthcare

Growing demand for load cells from industries such as healthcare and oil & gas is driving the market. Load cells are used in healthcare devices and equipment such as infusion pumps and surgical instruments, and also in an extensive variety of delicate fluid-monitoring applications comprising blood transfusions, kidney dialysis, and blood donation. In such applications, the load cells confirm that the number of fluids entering, leaving, or being replaced in the body are started, stopped, or recirculate at the right time and in the proper dosage or ratios.

Restraint:

High Cost

Load cells provide a significant level of measuring exactness while weighing the system. However, the cost of load cells is high. Moreover, load cells are bulky, which interferes with the system's operation. For industries that do not require a high level of measurement accuracy, such as wireless device production, alternative technologies that are less expensive and consume less space present a viable option.

Opportunity:

Technological Advancement & Growing Trends of Artificial Intelligence

Technological investments across diverse industries continue at a rapid pace in the upcoming years. Companies operating in the current market are expected to design and develop load cells that fulfill the requirements of modern-day industries or Industry 4.0. Additionally, the burgeoning applications of load cells in the agricultural sector coupled with the ability of load cells to operate in harsh environments are some of the leading factors that are expected to create ample opportunities for the market. Automation and artificial intelligence (AI) are changing the nature of industries. Advances in robotics, artificial intelligence, and machine learning are ushering in a new age of automation, as machines match or outperform human performance in a range of activities, including ones requiring cognitive capabilities. According to Industry experts, smart automation will power the fourth industrial revolution, combining the innovation in industrial and IT processes to drive global manufacturing productivity gains. Another industry revolution is now underway, which industry experts believe will transform the future of manufacturing. It is powered by smart automation (SA). As Industry 4.0 rises in importance, the market for load cells is forecast to thrive.

Threat:

Stringent Regulation 

Meeting the obligatory regulatory standards is a major threat to the market. The companies that manufacture load cells need to confirm that their devices do perform as proposed. Most countries have a set of legal requirements that manufacturers have to follow. The regulations that are adopted by many countries outside the U.S. have as their basis a recommendation made by an intergovernmental organization called the International Organization of Legal Metrology. 

Compression Load Cells segment is expected to be the largest during the forecast period

Compression Load Cells are used for calculating straight line pushing force, which is negative, along a single axis. They are extremely accurate, long-lasting, and usually built out of stainless steel and are therefore very strong and can handle harsh environments.

The shear beam load cells segment is expected to have the highest CAGR during the forecast period

The shear beam load cell is designed for low profile scale and process applications. One end of the shear beam contains the mounting holes while the opposite end is where the cell is loaded. The load cell will be mounted on a flat smooth surface with high strength hardened bolts. The larger shear beam cells have more than two mounting holes to accommodate extra bolts to keep the hardware from stretching under stress load.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, Asia Pacific is likely to have a huge demand mainly, owing to the growing demand for industrial weighing equipment that is promptly evolving in the province with consumers migrating towards automated systems and expansion of infrastructure for mining, manufacturing, warehousing, construction, and shipping. Moreover, the rapid growth of fuel-efficient automobiles and aerospace in developing countries such as China and India.

Region with highest CAGR:

Europe is projected to have the highest CAGR; Europe is predicted to grow significantly during the forecast period owing to the high increase in the use of these cells in various applications like aerospace, defense, automotive, oil and gas, and bulk material handling industries. Europe is likely to have a huge demand due to the increasing demand for industrial weighing equipment’s in this region and manufacturing firms are migrating towards more automated systems.



Key players in the market:

Some of the key players profiled in the Load Cell Market include ABB, Spectris, Honeywell, Interface Advanced Force Measurement, TE Connectivity, PCB Piezotronics Inc., Futek, Keli Electric Manufacturing (Ningbo) Co. Ltd. , Zhonghang Electronic Measuring Instruments Co. Ltd., National Scale Technology, Hottinger Baldwin Messtechnik GmbH.

Key developments:

In June 2019: FUTEK Advanced Sensor Technology, Inc., a load cell manufacturer, launched a new load cell for use in various applications. The newly launched load cell is sub-miniature in nature. It is an addition to the company’s LCM load cell series. The capacity of this load cell ranges from 25 lbs. to 1,000 lbs.

In April 2019: Hottinger Baldwin Messtechnik GmbH, a sensor and instrument manufacturer expanded its portfolio with the launch of a new single-point load cell. The new load cell has a casing of hermetic metal, and it comes with capacities ranging from 10 kilograms to 20 kilograms and 50 kilograms to 100 kilograms.

Types Covered: 
• Strain Gauge Load Cell
• Pressure Load Cell
• Single Pint Load Cell
• Compression Load Cell 

Products Covered:
•  S-Type
• Dual-Shear
• Single-Point
• Shear-Beam
• Bending-Beam 

Weigh Capacity’s Covered:
• Low-Capacity Load Cell
• Medium-Capacity Load Cell
• High-Capacity Load Cell
  
Technology’s Covered:
• Digital
• Analog

Applications Covered:
• Agriculture Equipment
• Bulk Material Handling
• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Vehicles

End Users Covered:
• Aerospace & Defence
• Automotive and Transportation
• Construction
• Food & Beverages
• Healthcare
• Industrial Manufacturing and Material Handling
• Medical & Pharmaceutical
• Oil and Gas
• Retail
• Mining

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances