The demand for strain gauges in a variety of applications, including electronics and measurement, construction, industrial, and others, is one of the primary drivers fuelling the growth of the strain gauge market. Additionally, the global demand for strain gauges is being fuelled by the expanding trends of downsizing and automation.
The booming electronics and measurement industries have increased the need for the strain gauge market. The building industry is another factor influencing the growth of this market. The demand for small and light items, the necessity for precise measurements, and the increased emphasis on quality control are key factors driving the market's expansion.
In comparison to other types of sensors like potentiometers and load cells, the strain gauge has many advantages. One benefit of utilizing a strain gauge is that it can measure extremely minute quantities of deformation, which makes it perfect for uses like tracking the stress on bridges or airplanes while they are in flight. The key benefit of making investments in this sector is that it offers precise information on stress and strain, which aids engineers in creating better goods. Additionally, it is utilized for quality control in a number of industries, including construction, electronics, and automotive.
A sensor known as a strain gauge measures electrical resistance that changes in relation to variations in strain. Strain is the material's displacement or deformation as a result of applied stress. Stress is the force exerted on a material divided by the cross-sectional area of the substance. The purpose of load cells is to concentrate stress through beam components that house strain gauges. Strain gauges transform the applied force, pressure, torque, etc. into a measurable electrical signal. Strain is caused by force, and the strain gauge measures it by detecting a change in electrical resistance. After that, data collection is used to gather the voltage measurement.
By 2031, the market for strain gauges is anticipated to reach a value of USD1.10 billion, expanding at a CAGR of 5.2%. (2021-2031).
The shortage of skilled workers for installation and maintenance is the market's biggest obstacle. Additionally, a portion of this market's growth is being constrained by the expensive nature of particular strain gauge types. But in the upcoming years, it's anticipated that the growing use of wireless strain gauges will open up fresh prospects for industry expansion.
Tekscan Inc., PCB Piezotronics Inc., Measurement Specialties Inc., Honeywell International Inc. (U.S.), HBM Kistler Group (Switzerland), Kyowa Electronic Instruments Co. Ltd. (Japan), Futek Advanced Sensor Technology Inc. (U.S.), Transducer Techniques LLC, FUTEK Advanced Sensor Technology, Inc. (U.S.), and Kistler Instrumente AG (Switzerland) are the major market participants in the strain gauge market.
During the forecast period, the stress analysis type segment is anticipated to develop at the fastest rate. Gauges for stress analysis are used to examine the stress on components and physical objects. They can be applied to a number of tasks, including figuring out how much a material will deform under tension or compression, figuring out if it will yield under stress, and figuring out how much force is needed to break a material. During the projected period, the electronics and measurement industries' rising need for stress analysis gauges is anticipated to propel the expansion of this market.
The sector for electronics and measurement application is predicted to grow at the highest CAGR over the projection period. This increase can be attributed to the rising demand for strain gauges from a number of end-use industries, including the automotive, aerospace and defence, and medical sectors. Additionally, it is projected that this application sector will grow during the projection period as a result of the introduction of new technologies like MEMS sensors and IoT. The construction industry is expected to experience the fastest growth in the strain gauge market. This development may be related to the construction industry's growing demand for accurate measurements of stress and load on various construction components, such as bridges and buildings. To make sure that these structures are safe, these measurements are required. The expansion of the strain gauge market is also anticipated to be fuelled by the development of new building initiatives, such as smart cities.
The Asia Pacific region is predicted to grow at the highest CAGR throughout the course of the forecast period as a result of the rising demand from end-use industries like electronics and construction in countries like China, Japan, and India. The North American area is likely to expand significantly over the forecast period due to the rising demand for strain gauges from a range of end-use sectors, including electronics and construction.
COVID-19 Impact and Market Status
The COVID-19 pandemic has had a big impact on the car sector. The market for automotive pressure sensors is expected to be affected throughout the projected time period by shifting customer tastes and behaviour brought on by the global economic crisis. The COVID-19 epidemic has also led to lockdowns in some countries, which has also led to the closing of international borders and the adoption of harsh measures by regulatory agencies in several countries, significantly limiting the need for automotive pressure sensors around the world. The possibility that COVID-19 will have a long-term impact on consumer standards of living and preferences is fairly high. The usage of vehicles may decline as a result of growing awareness of social isolation and the adoption of the remote working strategy. Additionally, it is projected that restrictions on public gatherings and travel prohibitions in many countries may impede the market growth for automotive pressure sensors during the course of the projection period.
Latest Innovations in the Global Strain Gauge Market: A Snapshot
• Introducing smart sensors: For measuring various characteristics, smart sensors are being employed more and more in a variety of industries. Due to the wireless data collection and transmission capabilities of these sensors, data gathering and analysis generally take less time and money.
• Use of cloud-based services is growing because they make it possible to store data safely and access it from anywhere at any time. As a result of their scalability and flexibility, these solutions are anticipated to be adopted more frequently.
• Increase in Industry 4.0 acceptance The fourth industrial revolution, known as Industry 4.0, is built on integrating cutting-edge technologies like the Internet of Things (IoT), big data, and artificial intelligence (AI). Due to their improved accuracy and efficiency, strain gauges are anticipated to become more widely used in a variety of industries.
Strain Gauge Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1.10 billion|
|Growth Rate||CAGR of 5.2 % during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Tekscan Inc., PCB Piezotronics Inc., Measurement Specialties Inc., Honeywell International Inc. (U.S.), HBM Kistler Group (Switzerland), Kyowa Electronic Instruments Co. Ltd. (Japan), Futek Advanced Sensor Technology Inc. (U.S.), Transducer Techniques LLC, FUTEK Advanced Sensor Technology, Inc. (U.S.), and Kistler Instrumente AG (Switzerland)|
Key Segments of the Global Strain Gauge Market
Type Overview, 2021-2031 (USD Billion)
- Stress Analysis Type
- Transducer Type
- Others (for Special Applications)
Application Overview, 2021-2031 (USD Billion)
- Electronics and Measurement
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa
- South Africa