Strain Gauge Load Cell Market Forecasts to 2028 – Global Analysis By Type (Compression Load Cells, Shear Beam Load Cells, Single Point Load Cells and Other Types), Technology (Analog and Digital), End User and By Geography

Strain Gauge Load Cell Market Forecasts to 2028 – Global Analysis By Type (Compression Load Cells, Shear Beam Load Cells, Single Point Load Cells and Other Types), Technology (Analog and Digital), End User and By Geography

According to Stratistics MRC, the Global Strain Gauge Load Cell Market is accounted for $949.2 million in 2022 and is expected to reach $1221.9 million by 2028 growing at a CAGR of 4.3% during the forecast period. A load cell is a type of transducer that converts mechanical force into an electric signal. Medical equipment including hemodialysis machines, infusion pumps, and surgical instruments all use strain gauge load cells. The testing of airframes, engines, pilot force input, landing gear, wheels, door and breaking systems, flight decks, cargo systems, and throttle controls are all done using load cells in the aerospace and defence industry.

Market Dynamics:

Driver:

Growing investments in commerce

Due to expanding e-commerce investments and increasing globalization, the strain gauge load cell market is anticipated to grow significantly. As large economies invest significant sums of money to improve infrastructure both domestically and internationally, infrastructure investments are anticipated to increase. Ports, railroads, and airports are likely to get significant money to support the expansion of international trade in the midst of rising infrastructure. The market for strain gauge load cells is anticipated to experience rapid growth due to the expansion of e-commerce.

Restraint:

Stringent regulation

The market is seriously threatened by complying with the mandatory regulatory criteria. The manufacturers of load cells must certify that their products work as intended. Manufacturers must abide by a set of legislative standards in the majority of countries. A suggestion provided by the International Organization of Legal Metrology, an intergovernmental organization, serves as the foundation for the rules that are implemented by many nations outside of the United States. Also, strain gauges are non-linear. In order to use it flawlessly and take correct readings, it requires regular calibration.

Opportunity:

Rising innovation in aerospace

Large investments are pouring into the aerospace industry for a variety of reasons. These include a rise in the number of innovations in the field of military, increased financial support for space technology, and increased demand for air travel. This market's innovation can be used for a wide range of objectives. Among these are the evaluation of seatbelts, cockpit gadgets, and aeroplane flaps. Furthermore, aircraft operations, such as flight control systems, rely heavily on sensors for a reliable and safe operation. This is a significant opportunity for participants in the strain gauge load cell market.

Threat:

High cost of raw materials

Strain Gauge Load cells provide a significant level of measuring precision while weighing the system. However, load cells are expensive. Load cells are very large, which makes it difficult for the system to function properly. Alternative technologies that are less expensive and take up less space present a feasible alternative for companies that do not require a high degree of measurement accuracy, like the manufacturing of wireless devices. In addition, they are relatively slow speed of response and the need for clean, dry, regulated air or nitrogen.

Covid-19 Impact

Most industries around the world have been badly impacted in recent months. This is due to major disruptions in their separate manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other limitations imposed by governing bodies around the world. The global Strain Gauge Load Cell market is no exception. Additionally, consumer demand has now decreased as people have been more intent on cutting down non-essential expenses from their individual budgets as the general economic condition of the majority of people has been adversely impacted by this outbreak.

The analog segment is expected to be the largest during the forecast period

The analog segment is estimated to have a lucrative growth, due to its cost effectiveness and unlimited choice of service providers. An analog cell, monitors stress and weight strain. The powerful architecture of analogue cells further distinguishes them from digital cells, which is exacerbated by the pricing war that exists between the two types of cells. Analog strain load cells have a high propensity for being more affordable and having better designs in end-use industries.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the significant need for strain gauge load cells used in weight-bearing industrial applications such as platform scales, industrial scales, and universal testing equipment. Strain gauge load cells offer accuracies from within 0.03% to 0.25% full scale and are suitable for almost all industrial applications.

Region with highest share:

Europe is projected to hold the largest market share during the forecast period owing to the presence of top manufacturers in the region. The success of the European vehicle industry is seen in its dominance of the market for strain gauge load cells. The concentration of major automakers and their desire to surpass quality standards are driving a high adoption of strain gauge load cells for testing and qualifying vehicles.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the high manufacturing and automotive ability of China and Japan. In addition, the strain gauge load cell market is likely to witness exponential improvements in its sales in the Asia Pacific region. Asia Pacific is undergoing modernization and adopting industrial automation, is witnessing increase in the demand for strain gauge load cells. This, in turn, is driving the global strain gauge load cell market.

Key players in the market

Some of the key players profiled in the Strain Gauge Load Cell Market include Anyload Weigh & Measure Inc., Dytran Instruments Inc., Flintec Group AB, Dytran Instruments, Inc., Futek Advanced Sensor Technologies, Hottinger Baldwin Messtechnik GmbH, Kistler Group, NMB Technologies Corporation., OMEGA Engineering, Inc., Siemens AG, Tecnicas De Electronica Y Automatismos Sa (UTILCELL), Thames Side Sensors Ltd., Vishay Precision Group

Key Developments:

In February 2019, Anyload Weigh & Measure Inc., a key market player, focuses on customer-centric products announced the launch of the ANYLOAD TMA-108B Compression Test Mount Device for testing and ensuring the working of devices as per requirements.

In September 2017, the Kistler Group acquired Corrsys-Datron Sensorsysteme GmbH. This acquisition enabled Kistler to increase its range of measuring systems used for vehicle dynamic testing in automobile development. The acquisition is likely to extend the product lines of the company and expand its business in Europe in the near future.

Types Covered:
• Compression Load Cells
• Shear Beam Load Cells
• Single Point Load Cells
• S-Type Load Cells
• Bending Beam Load Cells
• Other Types

Technologies Covered:
• Analog
• Digital

End Users Covered:
• Automotive & Transportation
• Agriculture
• Aerospace & Defense
• Medical
• Industrial
• Other End Users

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