The weigh in motion system market is expected to expand its roots in the global market at a moderate CAGR of 10.3% during the forecast period. The global market holds an estimated revenue of USD 1.04 Billion in 2022 and is likely to cross USD 2.55 Billion by the end of 2032.
The weigh in motion system market is anticipated to show promising growth prospects during the forecast period, expanding the Weigh in motion system market size.
| Attributes | Details |
|---|---|
| CAGR (2022 to 2032) | 10.3% |
| Value (2022) | USD 1.04 Billion |
| Value (2032) | USD 2.55 Billion |
Used in recording, measuring, and analyzing the weight of moving vehicles, weigh in motion system is expanding its market through supply chain enlargement and distribution channels. It is used in road traffic administrations, control agencies, bridge designers, and research and development units.
Anything that includes weighing the moving object is measured through these systems, fueling the sales of weigh in motion systems. The most important application of weigh in motion system is analyzing the moving object’s characteristics like gross vehicle weight (GVW), axle weight, speed, and axle spacing, thriving the demand for weigh in motion system.
Increasing commercial transportation requirements are also pushing the sales of weigh in motion system in new market spaces.
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The benefits of weigh in motion system include providing road safety, road management, overload vehicles detection, cost reduction, traffic monitoring, and analysis. The weigh in motion system enables the local authorities and transportation departments to plan systematically by ensuring that the roads are kept safe with continuous monitoring, recording, and law enforcement techniques, pushing the sales of weigh in motion systems.
Weigh in motion system has applications in rail transport also. Some of those applications are imbalance and overload monitoring and management, maintenance planning, legislation, regulation, etc. These are the factors projected to drive the growth in demand for weigh in motion system.
However, high initial investments and restrictive installation stipulations of nonintrusive sensor requirements are the factors expected to hamper the growth in Weigh in Motion system market. By virtue of industrial developments, commercial heavy vehicle transport is increasing at a significant pace. To control the traffic and monitor the implementation of regulations, the installation of weigh in motion system is required.
With technological advancements, the manufacturers are focusing on developments in order to achieve a maximum share in the global Weigh in Motion system market. Strain gauge sensor, fibre optics sensor, and fibre Bragg grating sensor-based weigh in motion system are being developed for improved performance. This pushes the sales of weigh in motion systems worldwide.
North America is projected to account for the largest share in the global weigh in motion system market, followed by Europe. The USA and Canada are major markets for weigh in motion system in North America. The growth in this region is attributed to an increase in adoption of weigh in motion system along with rise in adoption of advanced technology.
Europe is anticipated to have a prominent share in the global weigh in motion market in the forecast period owing to the increased freight transport and free movement of goods between the European countries, fuelling the sales of weigh in motion systems.
The market for weigh in motion system in Asia Pacific region is estimated to be the fastest growing market by virtue of increasing investments in smart traffic management, intelligent transportation system, and smart cities, especially in China and India.
The key players of the weigh in motion system market are focusing on mergers and collaborations that are fueling the sales of weigh in motion system.
Key players in the weigh in motion system market include Kapsch TrafficCom AG, Q-free, Mettler Toledo, Avery Weigh – Tronix, TE Connectivity, International Road Dynamics, Kistler, Transcore Reno A&E, Axis Communications, EFKON, International Road Dynamics Inc, SWARCO AG, FLIR Systems, Raytheon Company, Sensys Networks Inc, LeddarTech Inc, Crooss Zlin, and SICK AG.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.3% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Component, Technology, Installation, End User, Application Speed, Region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | Kapsch TrafficCom AG; Q-free, Mettler Toledo; Avery Weigh - Tronix; TE Connectivity; International Road Dynamics; Kistler; Transcore Reno A&E; Axis Communications; EFKON; International Road Dynamics Inc; SWARCO AG; FLIR Systems; Raytheon Company; Sensys Networks Inc; LeddarTech Inc; Crooss Zlin; SICK AG |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
North America is the biggest market in the weigh in motion system market.
Key competitors holding substantial Weigh in motion system market share include Kapsch TrafficCom AG, Q-free, Mettler Toledo, Avery Weigh – Tronix, TE Connectivity, International Road Dynamics, Kistler, Transcore Reno A&E, Axis Communications, EFKON, International Road Dynamics Inc, SWARCO AG, FLIR Systems, Raytheon Company, Sensys Networks Inc, LeddarTech Inc, Crooss Zlin, and SICK AG.
Demand for Weigh in motion system is likely to increase with the high demand from highway-road construction industry. Growing industries are also speeding up the sales of weigh in motion system in new markets.
| Estimated Market Value (2023) | USD 4,622.0 million |
|---|---|
| Projected Market Revenue (2033) | USD 8,242.7 million |
| Value-based Market CAGR (2023 to 2033) | 6.0% |
| Market Value (2023) | USD 3,403.0 million |
|---|---|
| Market Anticipated Value (2033) | USD 4,754.1 million |
| Projected Growth Rate (2023 to 2033) | 3.4% |
| Market Size 2022E | USD 1,774.8 million |
|---|---|
| Market Size 2032F | USD 2,551.8 million |
| Value CAGR (2022 to 2032) | 3.7% |
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Weigh in Motion System Market
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