Miniature Load Cells Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction

The miniature load cells market is growing at a stupendous rate due to leap in technological advancements and popular business strategies like takeovers, amalgamations, joint ventures, marketing campaigns and social media. There are a wide variety of miniature load cells in market today, for instance; subminiature, tension/compression, universal measurement load cells and others. They are absolutely unparalleled in severe weather conditions with limited spaces.

Market Dynamics

The increasing use of right load cells, investment in emerging economies (such as, India, China, Brazil, South East-Asia and Mexico) and high growth in end use industries is driving the market for miniature load cells, globally. Increased use of miniature load cells in consumer goods and emergence of new end users of miniature load cells such as wind energy and marine sector is expected to change the dynamics of market in near future. However, growing opportunities across Asia-Pacific market as well as requirement for fuel-efficient automobiles and aerospace are the major opportunity areas for market players. The major challenges faced by market players include strict rules and regulations such as control of substance for hazardous health (COSH), European Union (EU), REACH etc. needed for large scale production along with fewer market opportunities in super developed economies of North America and Europe. Other important factor hindering the growth of miniature load cells market is the volatility in raw material prices.

Market Classification and Overview

The miniature load cells market is bifurcated on the basis of type, application, end-use industry, and geography. The different types of miniature load cells include platform, miniature, strain, beam, tension/compression and canister. Miniature load cell is the largest market and is most widely used type as it caters to almost every type of application. Miniature load cells are very effective in industrial weighing applications and first-of-its-kind structures. By contrast, platform load cell is highly in demand in miniature load cells market. It performs brilliantly in applications requiring water tightness and high accuracy just as automatic weighing stations and industrial food processing. Another popular load cell type is canister, which is used for single and multi-weighing applications. Canister load cells accommodate rough weather environments and are suitable for axial compression applications. Based on application, the market is further segmented into X-Y force testing, high output testing, and others. High output testing accounts for nearly half of the global consumption of miniature load cells market, followed by brake pedal force testing and seat belt load monitoring and testing segments. Miniature load cells growth is driven by increasing demand from end-use industries. X-Y force testing application is the fastest growing market owing to rising standard of living and the know-how about the benefits of right load cell in specific application. Increase in demand for lightweight material in automotive & transportation sector to increase fuel efficiency, and increased use of high output testing by Boeing and Airbus in the aerospace industry are the key drivers for the growth of miniature load cells segment.

Regional Overview

The market for miniature load cells is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA). Asia-Pacific region contributed tremendously to the growth of miniature load cells market in 2016. North America was the second biggest market followed by Europe. The market for miniature load cells, specifically in Asia-Pacific, is predicted to witness amazing levels of growth in following years due to fast paced advancements in technology and commercialization. The North American market for miniature load cells is likely to grow at a significant rate owing to the increase in demand from marine and automotive sectors. The market will also experience increased demand from manufacturers of aircraft.

Report Coverage

Market Participants

Mettler, Futek, Toledo, Transducer Techniques, Honeywell, EVT Sensor, Tecsis LP, Mecmesin, and LORD Sensing-Stellar Technology among others are the key players in the miniature load cells market. These top ranked players have been successful so far because of powerful marketing campaigns online and offline.

Market Segmentation

Market By Type

• Platform
• Miniature
• Tension/Compression
• Strain
• Beam
• Canister Style

Market By Application

• High Output Testing
• Break Pedal Force Testing
• Seat Belt Load Monitoring & Testing
• Others

Market By End-Use Industry

• Automotive (Large & heavy vehicles & railroads)
• Industrial
• Building & Construction
• Wind power
• Marine and Aerospace
• Oil and Gas

Market By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • Taiwan
  • India
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA