Complete research report on Load Monitoring Systems Market 2019 with top players analysis

From: Fact Market Research
Published: Tue Jul 23 2019

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," says the Fact.MR study.

The Fact.MR study finds that the automotive industry accounted for more than 30% revenue share in the load monitoring systems market in 2018. The study predicts that the automotive industry will retain its largest share in the load monitoring systems in the upcoming years, as the performance and safety of automobiles remains the primary focus for automotive manufacturers.

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With the increasing presence of small- and medium-sized businesses with revenues less than US$ 10 million, the load monitoring systems market is expected to remain fragmented. Multipronged benefits of employing load monitoring systems has intensified the competition among local as well as global players in the market.  These players are taking up aggressive expansion strategies, as increased automotive production, rapid industrialization, and energy demand continue to bolster adoption of load monitoring systems market.

Notable developments in the load monitoring systems market:

Spectris, a leading productivity-enhancing instrumentation and controls company in the load monitoring systems market, announced in April 2018 the merger between Brüel & Kjær Sound & Vibration – a Danish electronics company – and its subsidiary HBM. The new company named HBK will be dedicated to providing combining sensors, integrated offering, data acquisition, preparation, evaluation and engineering services into one solution in the domains of propulsion, safety and noise, durability, vibration and harshness.

DLM Ltd., a U.K.-based company in the load monitoring systems market, announced the launch of a new innovative range of wireless electronics in January 2019. With the release of TW-3.0, which is a multi-functional load monitoring system designed to integrate load cells, proximity sensors, encoders, etc., DLM is introducing innovation in their product range by developing their own electronics.

HBM, a subsidiary of Spectris and manufacturer of products for test and measurement, announced in July 2018, the launch of its new product in the load monitoring system market. With the launch of its new C6B force transducer, which is a load cell, the company has introduced a flexible and cost-effective load monitoring solution for rugged and dynamic applications. The company also declared that the C6B force transducer is capable of measuring a load of large constricting forces ranging from 200 kN to 10 MN.

Vishay Precision Group, Inc., a U.S.-based manufacturer of resistive foil technology, sensors, and sensor-based load monitoring systems, announced in January 2019 that it has partnered with Bridge Diagnostics, Inc. (BDI), a structural instrumentation company, for the sale of its products under its brand Micro-Measurements® on GSA Advantage – the U.S. General Services Administration portal. By offering Micro-Measurements products on the GSA Advantage portal, the company aims to leverage the online shopping and ordering portal for connecting with thousands of contractors and vendors and gaining access to millions of cost-effective goods.

The Fact.MR study presents unique insights about development of the load monitoring systems market during the forecast period 2019-2027. The report includes the value-based, ultimate predictions about growth of the load monitoring systems market in terms of market size (US$ million) and market volume (units) during the assessment period.

The Fact.MR report on load monitoring systems market provides valuable and actionable insights for stakeholders to comprehend the impact of demand generating factors, important developments, and other dynamic aspects, in the market on the overall competitive environment of the load monitoring systems market.

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