Weigh-In-Motion System Market Set to Achieve US$ 2.55 Billion by year 2032 with a Strong 10.3% CAGR

The weigh-in-motion (WIM) system market is poised for substantial growth in the global arena, projected to experience a steady compound annual growth rate (CAGR) of 10.3% throughout the forecast period. With a strong foundation, the global market currently boasts an approximate revenue of US$ 1.04 billion as of 2022. This figure is anticipated to surge significantly, potentially surpassing US$ 2.55 billion by the culmination of 2032.

Over the forecast period, the weigh-in-motion systems market outlook is expected to be driven by the rapid increase in the number of vehicles and the resulting increased demand for faster, more accurate, autonomous, and efficient weighing systems. In the future, more and more people are forecasted to use weighing products thanks to developments in the industry that allow for faster detection of vehicles that are overloaded and more affordable traffic monitoring and analysis.

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Weigh-in-motion systems are expected to become increasingly popular as new forms of traffic congestion arise as public and commercial sectors work together to improve transportation systems' environmental impact reduction, safety, and productivity. The state of Idaho paid $2.2 million to International Road Dynamics Inc. in September 2021 so that they could supply and implement an electronic pre-clearance and weigh-in-motion systems. This change is likely to decrease emissions of greenhouse gases and traffic at weigh stations while increasing screening efficiency for commercial vehicles.

Weigh-in-motion systems also have other advantages, such as thorough reporting, increased productivity, and full integration, which together make it much simpler to weigh enormous, heavy haul trucks and trains. This, along with widespread implementation of these systems in industries including transportation, forestry, waste management, demolition and excavation, agriculture, port operations, mining, and building, is expected to drive the weigh-in-motion systems market outlook.

Weigh-in-motion systems market expansion is predicted to be stymied by factors including hefty initial investments and stringent installation requirements for nonintrusive weigh-in-motion sensors. As a result of technological advancements in industry, the transit of commercial heavy vehicles is growing at a staggering rate. The installation of a weigh-in-motion system is essential for traffic management and the oversight of regulatory compliance.

Manufacturers are investing heavily in R&D to increase their standing in the worldwide W weigh-in-motion systems market as technology improves. They are working to increase the performance of the weigh-in-motion system by using strain gauge sensors, fibre optic weigh-in-motion sensors, and fibre Bragg grating sensors. As a result, demand for weigh-in-motion systems increases over the world.

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Key Takeaways

Players such as Q-Free, International Road Dynamics, Kapsch Trafficcom, Kistler, TE Connectivity, SWARCO, FLIR Systems, and Siemens dominate the weigh-in-motion systems
The weigh-in-motion systems market is anticipated to be led by Europe.
By 2029, the Highway Toll sector is anticipated to account for the greatest share of the weigh-in-motion systems
The rising number of heavy-duty trucks and technological advancements in weighing systems bode well for the North American weigh in weigh-in-motion systems market share throughout the forecast period.

Competitive Landscape

Leaders in the weigh-in-motion systems market are consolidating and teaming up to increase their share of the industry and their bottom lines.

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 are just some of the major players in the weigh-in-motion systems market.

Recent Developments

Kistler began selling low-outgassing cables in May 2021 for their titanium housing piezoelectric accelerometers used in astronomical research.
Q-contracts Free's with the Georgia Department of Transportation (DOT) were extended to include enhancements to Kinetic Signals in April 2021.1
SWARCO AG introduced its new urban mobility management software, MyCity 1.0, in April 2021 with the goal of creating smarter, greener cities.
Kapsch TrafficCom was tasked by the Norwegian Public Road Administration to install a new Multi-Lane Free-Flow (MLFF) tolling system in Ryfast, Norway in March 2021.
International Road Dynamics was awarded a five-year, up to $13 million maintenance and upgrade contract by the New York State Department of Transportation in March 2021.
Commercial vehicle weight enforcement industrial scales in Ukraine have used Intercomp WIM sensors since February 2021. These weigh-in-motion sensors are integrated into the country's high-speed Weigh-In-Motion systems.

Key Segments

By Component:

Hardware
Sensor Array
Control & Measurement Systems
Processing & Reporting Systems
Support Devices & Infrastructure
Software

By Technology:

Load Cell
Strain Gauge Strip
Bending Plate
Piezoelectric Sensor

By Installation:

Weigh Bridge System
Onboard System
Pavement/In-road System

By End User:

Roadways
Railways
Ports & Logistic Hubs
Process Industries
Aviation

By Application Speed:

Low Speed (15 km/hr)

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.