Global Load Monitoring System Market 2018-2024 - Increase in Demand for Customized Load Monitoring Systems


Dublin, Feb. 27, 2019 (GLOBE NEWSWIRE) -- The "Load Monitoring System Market by Offering (Load Cell, Indicator & Controller, Data Logging Software), Technology (Analog, Digital), Industry (Automotive, Healthcare, Marine, Construction), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The load monitoring system (LMS) market was valued at USD 2.55 billion in 2017 and is expected to reach USD 3.33 billion by 2024, at a CAGR of 4.0% from 2018 to 2024.

Load monitoring system is a combination of load cells, load indicators and controllers, and data logging software. Load monitoring system is based on analog or digital technology and used in various industries such as automotive, marine, food & beverages, agriculture, healthcare, aerospace, construction, and oil & gas.

The growth of this market can be attributed to the growing demand for load cells in the healthcare industry, increasing use of LMS for testing and monitoring aircraft parts and reduce instrumental errors, and rising demand for remote load monitoring. However, factors such as compliance with various standards and complex manufacturing process of load cells are restraining market growth. Moreover, entry barrier for new vendors from international players and volatility in demand of LMS act as challenges for the companies developing a load monitoring system.

Key players in the load monitoring system market are Spectris (UK), Flintec (US), Vishay Precision Group (US), Dynamic Load Monitoring (UK), and Load Monitoring Systems (UK), among others.

These companies have adopted key strategies such as product launches, mergers and acquisitions, expansions, and contracts and partnerships to expand their business operations and customer base worldwide.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Load Monitoring System Market, 2018-2024 (USD Billion)
4.2 Load Monitoring System Market, By Offering
4.3 Load Monitoring System Market, By Technology
4.4 Load Monitoring System Market, By Industry
4.5 Load Monitoring System Market, By Geography

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Demand for LMS in Healthcare
5.2.1.2 Increase in Use of LMS for Testing and Monitoring Aircraft Parts
5.2.1.3 Decline in Instrumental Errors Owing to Technological Innovations in Load Cells
5.2.1.4 Increase in Demand for Remote Load Monitoring
5.2.2 Restraints
5.2.2.1 Compliance With Various Standards
5.2.2.2 Complex Manufacturing Process
5.2.3 Opportunities
5.2.3.1 Rise in Demand for Digital Load Cells
5.2.3.2 Increase in Demand for Customized Load Monitoring System
5.2.4 Challenges
5.2.4.1 Entry Barriers for New Vendors From International Players
5.2.4.2 Volatility in Demand for LMS
5.3 Value Chain Analysis

6 Load Monitoring System Market, By Offering
6.1 Introduction
6.2 Load Cell
6.2.1 Single Beam Load Cell
6.2.1.1 Single Beam Load Cell Holds Largest Share of Load Monitoring System Market
6.2.2 S-Type Load Cell
6.2.2.1 S-Type Load Cell to Grow at Highest Rate During Forecast Period
6.2.3 Dual Shear Load Cell
6.2.3.1 Dual Shear Load Cells are Mainly Used for Heavy-Load Industrial Applications
6.2.4 Bending Beam Load Cell
6.2.4.1 Bending Beam Load Cell is Popularly Used in Commercial Weighing Applications
6.2.5 Others
6.2.5.1 Compression Load Cell
6.2.5.2 Load Link
6.2.5.3 Load Pin
6.2.5.4 Load Shackle
6.3 Indicator and Controller
6.3.1 Indicators and Controllers to Grow at Highest CAGR From 2018 to 2024
6.4 Data Logging Software
6.4.1 Software Helps in Easy Analysis and Monitoring of Load

7 Load Monitoring System Market, By Technology
7.1 Introduction
7.2 Analog
7.2.1 Analog Technology to Hold Larger Share of Load Monitoring System Market in 2018
7.3 Digital
7.3.1 Digital Technology to Grow at Higher CAGR From 2018 to 2024
7.4 Difference Between Analog and Digital Load Cell

8 Load Monitoring System Market, By Industry
8.1 Introduction
8.2 Automotive
8.2.1 Increasing Competition in Automotive Industry Compelling Players to Follow Safety and Quality Standards
8.3 Marine
8.3.1 Increasing Globalization Led to Shipbuilding Industry Growth
8.4 Construction
8.4.1 Construction Industry Growth Fuelled By Ever-Increasing Population
8.5 Food & Beverages
8.5.1 Increase in Automation in F&B Industry Propelling LMS Market Growth
8.6 Aerospace
8.6.1 Globalization Led to Increase in Airline Passengers Fuelling Demand for Aircrafts
8.7 Oil & Gas
8.7.1 Harsh Environmental Conditions at Oil & Gas Exploration Sites Fuelling Demand for LMS
8.8 Healthcare
8.8.1 Development in Medical Technology Supporting LMS Market Growth
8.9 Agriculture
8.9.1 Increasing Adoption of Automation in Agriculture Industry Fuelling Demand for LMS

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Presence of Heavy Industries Supports LMS Market Growth in Us
9.2.2 Canada
9.2.2.1 Manufacturing Industry in Canada Propels LMS Market Growth
9.2.3 Mexico
9.2.3.1 Increasing Medical Device Manufacturing Supports LMS Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Automotive and Shipbuilding Industry in Germany is Among Major End-Users of LMS
9.3.2 UK
9.3.2.1 F&B and Oil & Gas Industries Drive LMS Market Growth in the UK
9.3.3 France
9.3.3.1 Industrial Manufacturing Sector Propels LMS Market Growth in France
9.3.4 Rest of Europe
9.3.4.1 Rising Number of Manufacturing Facilities and High Safety Standards Propel LMS Market Growth in Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 Rapidly Growing Industrial Manufacturing Along With Agriculture Industry Propels LMS Market Growth in China
9.4.2 Japan
9.4.2.1 Highly Advanced Automotive Industry Keeps Steady Demand for LMS in Japan
9.4.3 India
9.4.3.1 Rising Investments in Automotive Industry Propel Demand for LMS in India
9.4.4 Rest of APAC
9.4.4.1 Increasing Automation in Industrial Manufacturing Supports LMS Market Growth in Rest of APAC
9.5 RoW
9.5.1 South America
9.5.1.1 Developing Economies of South America Drive Demand for LMS in the Manufacturing Sector
9.5.2 Middle East
9.5.2.1 Oil & Gas and Marine Industries are Major Drivers of LMS Market in the Middle East
9.5.3 Africa
9.5.3.1 Agriculture and Automotive Markets Drive LMS Market Growth in Africa

10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players in Load Monitoring System Market
10.3 Competitive Leadership Mapping
10.3.1 Visionaries
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Strength of Product Portfolio
10.5 Business Strategy Excellence
10.6 Competitive Situations & Trends
10.6.1 Product Launches
10.6.2 Expansions
10.6.3 Contracts and Partnerships
10.6.4 Mergers and Acquisitions

11 Company Profiles
11.1 Key Players
11.1.1 Flintec
11.1.2 Mettler Toledo
11.1.3 Precia Molen
11.1.4 Spectris
11.1.5 Vishay Precision Group
11.1.6 Dynamic Load Monitoring
11.1.7 JCM Load Monitoring
11.1.8 LCM Systems
11.1.9 Load Monitoring Systems
11.1.10 Straightpoint
11.1.11 Wirop Industrial
11.2 Other Key Players
11.2.1 Eilersen Electric Digital Systems
11.2.2 Euroload
11.2.3 Futek Advanced Sensor Technology
11.2.4 Mantracourt Electronics
11.2.5 PCE Deutschland
11.2.6 Standard Loadcells
11.2.7 Strainsert
11.2.8 Tecsis
11.2.9 Thames Side Sensors

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