New York, NY, March 26, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Load Monitoring System Market by Offering (Load Cell, Indicator & Controller, and Data Logging Software), by Type (Analog Load Monitoring System and Digital Load Monitoring System), and by Application (Automotive, Marine, Construction, Energy, Aerospace, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global load monitoring system market was valued at USD 2.54 billion in 2018 and is expected to reach USD 3.36 billion by 2025, at a CAGR of 4.1% between 2019 and 2025.
The load monitoring system measures and displays weights of different objects to warn the workers in case of weight overload. These load monitoring systems are widely used for various applications across energy, construction, marine, manufacturing, and civil engineering industries. The global load monitoring system market is projected to grow rapidly over the estimated timeline, owing to the escalating product demand by the healthcare sector and the rapid technological advancements made related to the load monitoring systems. Additionally, the increasing use of these load monitoring systems for testing and monitoring of aircraft parts is also likely to impact the market growth positively.
Browse through 54 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Global Load Monitoring System Market: By Offering, Industry Type, Size, Share, Segments, Analysis and Forecast 2018–2025”.
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The global load monitoring system market can be segmented into the offering, type, and application. By offering, the global load monitoring system includes load cell, indicator and controller, and data logging software. Furthermore, the load cell is divided into single beam load cell, s-type load cell, dual shear load cell, bending beam load cell, and others. Load cell offering dominated the market in 2018, due to the rising adoption of industrial IoT and automation. The indicator and controller segment is expected to show the highest CAGR over the assessment time period, as they display the data collected and readings by the load cells and help the workers to understand the measurements of the load. By type, the market includes analog load monitoring system and digital load monitoring system. The digital load monitoring system segment is expected to show the highest CAGR in the next few years. On the basis of application, the market is classified into automotive, marine, construction, energy, aerospace, healthcare, and others. Automotive segment is predicted to witness significant gains over the forecast timeline. Additionally, healthcare is projected to grow at the highest rate during the forecast period.
In 2018, Europe was the most dominating regional market for load monitoring system and is expected to observe significant growth over the estimated time period as well. The automotive industry in Europe is projected to grow at a fast pace, which will increase the demand for load monitoring systems and spur the load monitoring system market in the region in the next few years. UK and Germany dominated the European load monitoring system market, due to the presence of a huge manufacturing base of aerospace and automotive industries, such as Airbus and DATC Group. Additionally, the burgeoning demand for load monitoring systems by the pharmaceutical industry is likely to further fuel the load monitoring system market in the future.
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The Asia Pacific load monitoring system market is projected to show the highest CAGR over the review time period, owing to the region’s emerging various end-user industries. China is the most dominating country in the region, owing to its growing manufacturing and industrial sectors and increasing domestic production. Additionally, the increasing demand for load monitoring systems by the automotive industry is also estimated to fuel this regional market’s expansion in the future. Moreover, Japan is also estimated to witness sturdy growth in the load monitoring system market due to its flourishing shipbuilding, automotive, and pharmaceuticals industries.
North America is expected to contribute a significant share to the global load monitoring system market. In 2018, the U.S. held the largest market share for this regional market, due to the rising product demand in construction and automotive industries and the escalating requirement for monitoring systems for medical devices.
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In Latin America, the load monitoring system market is expected to grow significantly in the future, owing to the escalating demand for load monitoring systems by the automotive industry and rapid industrialization. The Middle Eastern and African load monitoring system market is slated to grow considerably in the upcoming years due to the increasing demand for load monitoring systems by marine, construction, and oil and gas industries.
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Some key players of the global load monitoring system market include Vishay Precision Group, Straightpoint, Spectris, LCM Systems, PreciaMolen, Flintec, Wirop Industrial, Mettler Toledo, Euroload, Mantracourt Electronics, Eilersen Electric Digital Systems, and Futek Advanced Sensor Technology, among others.
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This report segments the global load monitoring system market into:
Global Load Monitoring System Market: Offering Analysis
- Load Cell
- Single Beam Load Cell
- S-Type Load Cell
- Dual Shear Load Cell
- Bending Beam Load Cell
- Others
- Indicator and Controller
- Data Logging Software
Global Load Monitoring System Market: Type Analysis
- Analog Load Monitoring System
- Digital Load Monitoring System
Global Load Monitoring System Market: Application Analysis
- Automotive
- Marine
- Construction
- Energy
- Aerospace
- Healthcare
- Others
Global Load Monitoring System Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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