Constantly innovating research and methodologies increasing the demand for strain gauge in various applications is driving the global strain gauge market
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. The COVID-19 pandemic has also resulted in the introduction of strict lockdown laws in numerous countries, causing difficulties in Strain Gauge import and export.
The key objective of the report is to analyse the global strain gauge industry in a global context and estimate whether global strain gauge could have a market in future. The report assesses the market with reference in the marketing mix. This study helps set new priorities and achieve new targets with the in-depth analysis. The report analyses the marketing mix and competitive environment of the global strain gauge industry. This was done through in-depth interviews with industry veterans and leaders and potential customers in the market. Also, the research team has referred to extensive literature and internet sources. Moreover, the report provides this analysis taking into consideration the qualitative and quantitative data analysis.
Quarter Bridge Strain Gauge Expected To Experience Fastest Growth
The global strain gauge market is classified into quarter bridge strain gauge, strain gauge rosettes, and piezoresistor. Among these, the quarter bridge strain gauge segment will have the maximum growth during the analysis period 2022-2029. Quarter bridge strain gauge takes advantage of the fact that they are reliant on the geometry of the conductor as well as the physical attribute of electrical conductance. Because of its ability to detect weight, force, and pressure, quarter bridge strain gauge are widely used in measurement and test applications, as well as healthcare, aerospace, and defence applications.
Civil Engineering Applications In High Demand
The global strain gauge market is classified into civil engineering, geotechnical monitoring, static testing, other on the basis of application. Among these, the civil engineering applications market for strain gauges is predicted to earn the highest market share during the analysis period due to the increased demand for advanced strain gauges in the civil engineering industry. Strain gauges are affixed to load bearing accessories in civil engineering to quantify any stress or strain. Strain gauges can also monitor wing deflection and deformation.
North America To Remain Dominant Region
North America earns the highest revenue in the global strain gauge market due to the rising demand for low-cost, reliable gas sensors. Because of its technological advancements, China leads the Asia Pacific market for strain gauge sensors. There has been a huge development of manufacturing sectors in the Middle East and Africa which has resulted in enhancement of the strain gauge market in those regions.
Owing to benefits such as safety and productivity, precision, ease of installation, low cost, long operating life, limited maintenance, resistant to harsh environment, the strain gauges is experiencing rapid adoption as opposed to conventional alternatives thus fostering remarkable progress of global strain gauge market.
The global strain gauges market is predicted to grow close to USD 405.34 million by 2029 at a Compound Annual Growth Rate (CAGR) of 3.92 percent during the forecast period 2019-2029.
The advantages such as failure detection in structures like bridges, buildings, high precision, better functioning at long distances from test object, minimal installation efforts, resistant to hash environments, efficient detection of surface defects encourage further adoption of strain gauge. These factors collectively influence thumping growth of global strain gauge market.
The strain gauge is utilised in a variety of industries, including mechanical engineering development, equipment strain measurement, and aircraft linkage, structural damage testing and also for several industrial equipments. These are the primary market drivers for strain gauges.
Various end-users utilise strain gauge sensing technologies to obtain higher benefits, increasing demand for strain gauges and moving the global strain gauge market forward.
A strain gauge usually provides the strain measurement on an object. Strain is the term for the deformation of a shape that is either compressive or tensile, and it is measured by a strain gauge. The strain gauge is sensitive to even the tiniest changes in an object's shape. The amount of strain which is being put on the object can be calculated by measuring the difference in resistance of an object.
The strain gauge is used in a variety of industries, including mechanical engineering development, to measure the stress produced by machinery, and in the field of aviation component testing, such as linkages and structural damage.
However, a lack of qualified people, complexities in design and expensive parts are some of the factors are likely to restrain the global strain gauge market.
Nevertheless, original equipment manufacturers (OEMs) and their related design and engineering employees also choose specialised strain gauge sensing technologies to gain a competitive advantage. Strain gauges are more sensitive, inexpensive, have a wide pressure range, no creep, and a powerful output signal, which makes them particularly useful in a variety of applications. As a result, demand for strain gauges rises, supporting market expansion and paving the way for future potential of global strain gauge market.
The global strain gauge market has intense competition and consists of several big corporations such as Vishay Intertechnology Inc, Hottinger Baldwin Messtechnik GmbH (HBM), Kyowa Electronic Instrument Co. Ltd, and Zhejiang Huangyan Testing Instrument Plan among others.
Latest Innovations in the Global Strain Gauge Market: A Snapshot
- In December 2021, Vishay Intertechnology, Inc., a leading manufacturer of discrete semiconductors and passive electronic components, announced that it had signed a definitive purchase agreement to buy Barry Industries' assets and liabilities for $21 million, subject to working capital and net cash adjustments at closing.
Strain Gauges Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 405.34 million.
|Growth Rate||CAGR of 3.92% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Vishay Intertechnology Inc, Hottinger Baldwin Messtechnik GmbH (HBM), Kyowa Electronic Instrument Co. Ltd, and Zhejiang Huangyan|
Key Segments of the Global Strain Gauges Market
Type Overview, 2019-2029 (USD Million)
- Quarter Bridge Strain Gauge
- Strain Gauge Rosettes
Application Overview, 2019-2029 (USD Million)
- Civil Engineering
- Geotechnical Monitoring
- Static Testing
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa