Load Monitoring Systems Market: Worldwide Industry Analysis and New Market Oppor

Posted by Harshad Borde on May 29th, 2019

In various industries, precision engineered technologies for operational load monitoring applications has gained traction over the past few years. Load monitoring systems find prominent use in the aerospace industry for testing and monitoring aircraft components, and in the healthcare industry. Additionally, these systems have been gathering traction in industries such as in marine, construction, and energy owing to the need for reducing the instrumentation errors. Growing focus on improving the environmental footprint of load monitoring systems unlocks exciting potential in end-use industries.

The report on the global load monitoring systems market offers a granular assessment of key growth dynamics, current avenues, emerging application frontiers, and major technological advances.

Global Load Monitoring Systems Market: Notable Developments

With growing focus of automotive manufacturers relentlessly improving the performance and security in vehicles, advanced automotive have risen in consumer demand. Efficient operation of these advanced automotive need precisely engineered system, notably advanced vehicle load cell sensors, thus fueling the growth of the load monitoring systems market. Such a trend paves way for attractive product launches such as:

• Vishay Precision Group, Inc., a globally prominent manufacturer of on-board weighing systems, has in March 2019 launched a new axle overload monitoring system. The system is likely to be useful for light commercial twin axle vehicles that can have varying suspension technologies. According to the manufacturer, the load monitoring system leads to substantial improvements in gross vehicle weight. The use of such technologies results in optimizing fuel consumption and reducing vehicle wear and tear. The system alarms the driver if total vehicle or axle weight exceeds the set limit.
• The use of various load monitoring systems has helped automotive players, including original equipment manufacturer, to better tire design optimization, adjust temperature compensation, and provide mechanical overload protection.

Several players are offering bespoke load monitoring systems to address the current diversity of demand in end-use industries. Companies aiming for higher stakes in the global load monitoring system include Eilersen Electric Digital Systems, Mantracourt Electronics, Mettler Toledo, Wirop Industrial, PreciaMolen, and Spectris.

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Global Load Monitoring Systems Market: Key Evolutionary Dynamics

• Precision Engineering of Devices key Imperative bolstering Uptake

The growing volumes of revenue in the global load monitoring system market comes from the healthcare industry for engineering application in a wide variety of medical equipment and devices. There is an attractive demand for load cells in priority medical devices, thereby accentuating revenues in the global load monitoring systems market.

A wide variety of life-saving technologies such as cardiopulmonary resuscitation are equipped with load monitoring systems and forms an inherent part of their functioning. Moreover, drug making activities make extensive use of load monitoring systems. Growing use of load monitoring system in research applications, world over, is boosting the load monitoring systems market. In the coming years, the healthcare industry will emerge as one of the most prominent revenue generating end industry.

• Need for better Vehicles Safety lends Impetus to Application in Automotive Industry

Automotive manufacturing has made rapid strides in numerous emerging economies, notably in Asia Pacific, thereby opening new avenues in the global load monitoring systems market. Intensifying demand for advanced and next-generation automotive for bolstering the performance of vehicles is spurring the demand for load monitoring systems. New opportunities have emerged from growing popularity of digital load cells.

Global Load Monitoring Systems Market: Regional Assessment

Regionally, Asia Pacific is expected to hold an enormous potential in the global load monitoring systems market. This is fueled tellingly by the rising adoption of load monitoring systems in automotive applications. The proliferation of commercial vehicles of various types in key economies in the region is spurring the demand for load monitoring systems. In addition, substantial chunks of revenues in the region also comes from pharmaceuticals and shipbuilding industries. Growing number of product launches in recent years has also fueled prospects of the load monitoring systems market.