Fact.MR recently published a comprehensive study, which found that the load monitoring systems market reached US$ 2.9 billion in 2018. The study features comprehensive information about the current market dynamics as well as future trends in the load monitoring systems market.
“With the palpable scarcity of natural resources, energy management has become a pivotal aspect of business management strategies across a wide range of industrial sectors. Many industry players are exploring opportunities to improve their product quality and to reduce power consumption for cost saving as well as for greener environment with help of the energy management trend. Thereby, load monitoring systems are witnessing burgeoning demand a wide range of industries, including oil & gas, construction, food & beverage, aerospace & defense, automotive, and healthcare.
Competitive Assessment
The load monitoring systems market report includes global as well as emerging players:
- Flintec
- Mettler Toledo
- Precia Molen
- Spectris
- Vishay Precision Group
- Honeywell International Inc.
- Eilersen Electric Digital Systems A/S
- Euroload Ltd
- Load Monitoring Systems Ltd.
- Straightpoint
- Wirop Industrial Co. Ltd.
- Futek Advanced Sensor Technology
- Mantracourt Electronics
- Dynamic Load Monitoring
The insights for each vendor consists of:
- Company profile
- SWOT analysis
- Main market information
- Market share
- Revenue, pricing and gross margin
With the emergence of next-generation technologies in the automotive industry, the automotive industry is undergoing remarkable changes on multiple fronts. Meanwhile, leading automakers are aiming to mitigate their environmental footprint while without having to compromise their business productivity, which is primarily driving demand for load monitoring systems among auto industry players.
Taking into account the large market share of the automotive industry, leading manufacturers in the load monitoring systems market are introducing advanced vehicle load cell sensors that can improve various automotive features, such as tire design optimization, temperature compensation, and mechanical overload protection.
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However, the Fact.MR report predicts that the increasing growth of the healthcare industry will become the fastest growing end-user industry in the load monitoring system in the upcoming years. Even though the automotive industry remains at the forefront of the load monitoring systems market, the healthcare industry will create more lucrative opportunities in the coming future.
Load monitoring systems are witnessing tremendous demand across the healthcare industry with an unprecedented rise in the manufacturing of medical devices. As the global medical devices market is estimated by The International Trade Administration (ITA) to surpass the US$ 400 billion mark through 2020, the healthcare industry is likely to redefine future prospects of the load monitoring systems market in the coming decade.
Regional Analysis
Important regions covered in the load monitoring systems market report include:
- North America
- Latin America
- Europe
- Japan
- APEJ
The load monitoring systems market report also provides data regarding the key countries in the defined regions.
Segmentation Analysis
By Load Cells:
- Beam Load Cells
- Single Point Load Cells
- Tension / Compression Load Cells
- S-Beams Load Cells
- Load Links
- Load Pins
- Load Shackles
By Loading Capacity:
- Up to 50 Tons
- 50 – 100 Tons
- Above 100 Tons
What insights does the load monitoring systems market report provide to the readers?
- Load monitoring systems market fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each load monitoring systems market player.
- Various regulations imposed by the governments on the consumption of load monitoring systems market in detail.
- Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global load monitoring systems market.
Stringent Calibration Standards and Certification Requirements Create Manufacturing Challenges
Even though the adoption of load monitoring systems is on the rise across various end-user industries, manufacturers are struggling to comply with high international standards while maintaining lower production costs. International organizations, including ASTM International, have set high verification standards for testing instruments such as load monitoring systems.
Furthermore, stakeholders in the load monitoring systems market have to obtain approvals and certifications from regulatory bodies before launching their products. For example, all the load cell manufacturers need to ensure accuracy of their products by providing necessary certifications to internationally recognized standards, which include UKAS, ASTM E74, and BS EN ISO 376.
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