Load cells are increasingly being used in a host of end-use industries such as medical & pharmaceuticals, food & beverage, automotive, aerospace & defense, etc. The significant progress in digital technologies has played an important role in the development of modern-day electronic and semi-conductor industries. In the current scenario, as programmable electronics continue to break the barriers of quality, reliability, and functionality, products driven by conventional analog technologies are losing out. At present, digital load cells have hit the mainstream market and players operating in the current load cell market are currently expected to focus on the quality of their load cells to improve the measuring & weighing accuracy and the performance of electronic scales.
Technological investments across different industries will continue at a rapid pace in the upcoming years. Companies operating in the current load cell market are expected to design and develop load cells that fulfill the requirements of modern-day industries or Industry 4.0. In addition, 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 propel the growth of the load cell market.
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Uptake of Precision Force Measuring Instruments to Propel Market Growth
At present, the worldwide demand for easy-to-install, cost-efficient, and durable load measurement is witnessing a consistent growth. Consistent progress in the load cell technology is expected to broaden the range of applications of load cells in the near future. Load cells are increasingly being deployed in weighing applications in different industries. In the current load cell market landscape, strain gauge load cells are expected to remain the most popular among different types of load cells, including pneumatic, capacitive, hydraulic, and piezoelectric. The demand for strain gauge load cells is projected to remain higher than other types of load cells due to low cost, higher accuracy, and ease of use. In addition, as strain gauge cells are resilient against temperature fluctuations and suitable for a range of load-mounting configurations, the adoption of strain gauge load cells is expected to grow for a range of industrial applications.
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While the sales of strain gauge load cells will outmatch that of pressure load cells, the demand for pressure load cells is projected to grow at a higher rate during the forecast period. As these types of load cell do not require any electrical components, the demand for the same is on the rise, particularly for applications wherein explosion safety is a paramount concern.
Automotive Sector Likely to Remain Most Prominent End-use Industry
At present, the automotive industry dominates the load cell market, in terms of share and value. Within the automotive industry, torque meters and transducers are extensively being used in the production of vehicles, particularly during the final phase of the manufacturing process. Load cells are extensively used to monitor the force required to operate the braking system. Within the automotive industry, load cells are integrated with a wireless transmission system to avoid the usage of connecting cables. Companies operating in the current load cell market are continually investing resources on research and development to develop advanced load cells. The innovation race within the automotive sector continues to influence the load cell market, as load cell manufacturers are compelled to stay in-sync with evolving technologies within the automotive sphere. With the growing onus on automotive manufacturers to improve the safety and reliability of their vehicles, the demand for load cells is on the rise.
Load cells are extensively used in the marine industry in both onshore and offshore applications to address the mounting challenges in force measurement and marine weighing. Moreover, ingredient control systems and batch weighing applications within the food & beverages industry are expected to present players in the load cell market with abundant opportunities during the forecast period. The ascending demand from material testing, chemical, oil & gas, and medical, among others, are some of the other end-use industries that will most likely propel the growth of the load cell market during the forecast period.
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