industry project

Load Cell Market is Expected to Reach US$2.55 bn by 2024: MRRSE

Press Release   •   Nov 08, 2017 08:09 EST

A new report added to the repository of Market Research Reports Search Engine “Load Cell Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024” is a comprehensive repository of information, providing market share, size, and forecast.

Get Free Sample Report@ https://www.mrrse.com/sample/2886

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.

Europe to Continue at Top Position

The worldwide market for load cells stretches across Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Europe, among these, has emerged as the leading regional market for load cells and is expected to remain seated in this position over the next few years. In 2015, the Europe market for load cells contributed US$561.0 mn in revenue. The high usage of these cells in the oil and gas, aerospace and defense, automotive, and bulk material handling industries has been boosting this regional market substantially.

View Full Report At@ https://www.mrrse.com/load-cells-market

Going forward, the presence of a number of firms, which specifically cater to bulk material handling industries, such as the cement, coal and iron ore mining, and railway sectors, is likely to propel this market for load cells in Europe over the next few years. Germany and the U.K. are expected to surface as the key domestic markets for load cells in this region.

North America is another fast-growing regional market for load cells. The increasing demand for these cells from the medical and healthcare, aerospace and defense, and the oil and gas sectors is expected to reflect positively on this regional market in the coming years. The U.S. is expected to lead the North America market for load cells and followed by Canada and Mexico. The Asia Pacific load cell market is also projected to witness healthy growth over the next few years, thanks to the rise in the bulk material handling industry in China, Japan, and South Korea.

Analog Load Cells Leading Global Load Cells Market

Technologically, there are two types of load cells available in the global market: analog load cells and digital load cells. The majority of load cells found in the market are of analog nature. In 2015, the total share of analog load cells in the overall market was more than 80%. However, over the coming years, the demand for digital load cells is expected to increase remarkably in heavy lifting applications in the near future.

The global load cell market is highly fragmented in nature. Honeywell International Inc., Vishay Precision Group Inc., Flintec Group AB, OMEGA Engineering Inc., FUTEK Advanced Sensor Technology Inc., Zhonghang Electronic Measuring Instruments Co. Ltd., Hottinger Baldwin Messtechnik GmbH, Novatech Measurements Ltd., Yamato Scale Co. Ltd., Thames Side Sensors Ltd., Mettler Toledo International Inc., and Precia Molen are some of the key manufacturers of load cells across the world.

Enquire About this Report@ https://www.mrrse.com/enquiry/2886

About MRRSE

Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

Contact Us

State Tower
90, State Street
Suite 700
Albany, NY - 12207
United States Telephone: +1-518-730-0559
Email: sales@mrrse.com
Website: https://www.mrrse.com/
Read More Industry News At: https://www.industrynewsanalysis.com/