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.
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.
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.
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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.
Analog strain gauge load cells continue to dominate the market, given their cost-effectiveness. Beside the battle of pricing being fought between digital and analog cells, the robust design of analog cells further bolds the line separating them from digital cells. Given the high proclivity of end-use industries for affordability and better designs, analog strain load cells account for a market share of ~ 85 percent. However, accuracy being the key feature of contemporary manufacturing processes, a shift towards digital technology will remain a key highlight of the strain gauge load cell landscape to accentuate automation.
Real-time processing of information is better achieved with digital strain gauge load cells, given their high data sample rates as compared to analog load cells. The use of binary data further ensures the security of digital cells from interference from electromagnetism, radio signals, and temperature. Less susceptibility to signal corruption and faster transmission of data encourages manufacturers to favor the adoption of digital load cells over analog load cells. Currently, digital strain gauge load cells are estimated to record volume sales of ~ 730 thousand units, with a compound annual growth rate of ~ 6 percent during the forecast period.
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The contemporary electronics industry has arrived at a juncture, wherein, grain-sized innovation, in the form of sensors, capacitors, and resistors, adds massive value to conventional devices. Similarly, force-sensing resistor (FRS) technology is the innovation in strain gauge load cells that offers excellent property to alter the resistance based on the force applied to the surface.
Strain gauge load cells developed using FRS technology are gaining traction, as the thin size of electronic components that is less than 0.5 mm remains desirable for the development of testing devices and equipment for the aerospace, defense, and automobile sectors. Besides being compact in nature, these cells come at an affordable price and offer good shock resistance, which have been popularizing the integration of FRS technology for the development of strain gauge load cells.
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