The strain gauge load cell market is likely to witness robust growth as e-commerce and global convergence of commerce leads to considerable growth of shipping and weighing applications. Driven by strong winds in the shipping and transport sector in general, the market is expected to register 4% CAGR growth during 2019-2027. The market will register a total valuation of $1.5 bn in 2027 end.
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Rising E-commerce to Fuel Growth in Market
The strain gauge load cell market is expected to rise considerably amidst growing investments in commerce infrastructure and rising global convergence through e-commerce. The investments in infrastructure are likely to rise up as major economies including the US, China, and India are investing considerable funds to improving infrastructure, both internally and globally. It is estimated that the construction sector will likely double by 2030. Amidst booming infrastructure facilities like ports, railways, airports are expected to receive major funding for boosting global commerce. The rising e-commerce is expected to drive significant growth for the strain gauge load cell market. Ports and docks require heavy use of stain gauge load cells to measure weights and for safety, these sensors are absolutely essential.
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Automotive Testing Promises New Avenues for Growth
Strain gauge load cells are capable of noting various types of measurements. These cells convert various forces like torque, compression, tension, and pressure into electrical signals to aid manufacturing. The application is expected to go a step further in the near future in automotive sector. The automotive sector is expected to produce more lightweight vehicles with the use of advanced new materials. The rising concerns about fuel, and emission goals recent passed by the EU are also expected to drive this trend. Moreover, automated driving is expected to fuel considerable demand for next-gen vehicles in the near future. Most major automobile companies have invested heavily in automated driving which in turn rely heavily on a wide range of sensors. The shifting dynamics of weight, growing inclusion of sensors, and rising demand for automobiles will drive major growth for the strain gauge load cell market.
Rising Innovation in Aerospace to Drive Growth
The Aerospace industry is witnessing an influx of large investments for a wide variety of reasons. These reasons include growing number of defense related innovation, increased investments in space technology, and rising demand for air travel. This is a major opportunity for players in the strain gauge load cell market. The innovation in this market is suited for a wide variety of purposes. These include testing of seat belts, cockpit instruments, and aircraft flaps. Additionally, aircraft operations like flight control systems are also dependent on heavy-use of sensors for a reliable and safe operation.
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