Semiconductor Strain Gauge Sensors Market Size, Share, Growth and Industry Analysis by Type (Naked Gages, And, Backed Gages), By Application (Industrial Measurement & Control, Weighing Equipment, Aerospace, Cranes, And, Others) Regional Forecast to 2032

Updated On: 22 April 2024

Semiconductor Strain Gauge Sensors Market REPORT OVERVIEW

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The global Semiconductor Strain Gauge Sensors market size was USD 31 million in 2022 and market is projected to touch USD 59.4 million by 2032, exhibiting a CAGR of 6.6% during the forecast period.

Semiconductor strain gauge sensors are mainly used for the purpose of measuring mechanical strain several industries. These sensors mainly make use of piezoresistive effect. Such sensors are used in buildings and bridges for the purpose of analyzing and monitoring stress. They help in ensuring structural integrity and safety. These gauge sensors are considered to be an important tool in sectors such as material testing, aerospace, and civil engineering.

Miniaturization of gauge sensors have helped in their implementation in smaller devices, thus increasing their scope in many industries. Also, these sensors find application in many flourishing sectors. All of these factors have tremendously helped in the growth and development of semiconductor strain gauge sensors market share.

COVID-19 Impact: Downfall of Semiconductor Sectors During Pandemic Decreased Market Share

The pandemic of COVID-19 had a negative impact on the growth and development of many industries. Due to the rapid spread of infectious coronavirus, all the countries had to face a major economical crisis. Along with this there were many other many problems that include disruption of supply chain and shortage of labor.

These gauge sensors are primarily made up of semiconductors. During the pandemic, there was a high demand for medical equipments and electronic devices. Both of these products require semiconductors, and hence there was shortage in supply of semiconductors. This affected the gauge sensors sector, reducing the market share significantly during the pandemic period.

LATEST TRENDS

"Enhancing Focus on Improving Sensor Performance to Propel Market Growth"

Several new innovations have been introduced in the market. Manufacturers and key industry players are constantly working on improving the performance of the semiconductor gauge sensor. Miniaturized sensors that exhibit high accuracy and improved sensitivity have been introduced into the market.

Along with this, manufacturers are emphasizing on incorporating materials that have advanced qualities to improve the overall efficiency of the devices. Microfabrication techniques are also adopted in order to achieve smaller size, higher resolution, and more space. All of these are considered as the latest trend in the market.

Semiconductor Strain Gauge Sensors Market SEGMENTATION

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• By Types

The market can be divided on the basis of type into the following segments:

Naked Gages, and, Backed Gages. The naked gages segment is anticipated to dominate the market during the forecast period.

• By Application

Based on application, the market share is bifurcated into the following segments:

Industrial measurement & control, weighing equipment, aerospace, cranes, and, others. The industrial measurement segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Integration of Gauge Sensors into Smaller Devices to Amplify Market Growth"

Semiconductor strain gauge sensors market is being shaped by several trends that are having a positive impact on the market growth and development. Integration of advanced technology has resulted in the miniaturization of these sensors. As a result, they can now be incorporated into smaller equipments and devices. This has increased the application of gauge sensors across many industries.

Structural health monitoring is gaining prominence in many sectors such as architecture, civil engineering, automotive, and, aerospace. Structural health monitoring will help in providing an accurate strain measurement. This has increased the use of semiconductor gauge sensors in all the above-mentioned sectors. Additionally, integration of smart devices will create many lucrative growth opportunities for the market. 

"Need for Energy Efficeincy and Sustainability to Propel Market Growth"

Apart from the factors that are already mentioned, numerous other factors are contributing towards the robust growth and development of the market. One among them is the increasing need for energy efficiency and sustainability. This has led to the process of optimizing the output and performance of mechanical systems.

Strain gauge sensors are of great use when it comes to such applications. They help in both monitoring as well as optimizing the usage of fuel and energy. Another important factor that is increasing the scope for the market is the increasing concern over safety in industries like manufacturing, transportation, infrastructure, and transportation. These sensors are highly useful in preventing failures and ensuring safety. All of these factors are helping in the semiconductor strain gauge sensors market growth.

RESTRAINING FACTOR

"Complication of Data Analysis and Interpretation to Bring Down Market Share"

Semiconductor strain gauge sensors provide multiple benefits and are useful in many sectors. In spite of this, there are certain limitations associated with them that can bring down the market growth. One such factor is the high cost that is associated with these sensors. The expensiveness of these sensors can be attributed to the cost that is related to fabrication, calibration, and installation.

As a result, many industries will hesitate to use this product. Another factor that can hamper the market growth is the complexity which is involved in data analysis and interpretation. This requires specialized knowledge as well as skills. Along with this there are certain environmental factors that can negatively impact the market growth and development.

Semiconductor Strain Gauge Sensors Market Regional Insights

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"Asia Pacific to Dominate Market During Forecast Period"

The region that has taken up majority of the market share is Asia Pacific. Asia Pacific is leading the market due to the presence of many favorable factors in this region. This region can be considered as a hub for several advanced technological advancements, and manufacturing of semiconductors.

Countries like India, China, South Korea, and Taiwan have a very strong presence in the semiconductor region. Along with this, all of the above-mentioned countries have a well-developed eco-system of research and development. All of these factors have made Asia Pacific the leading region in the semiconductor strain gauge sensors sector.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• BCM Sensor (Belgium)
• Micron Instruments (India)
• Kyowa (Japan)
• HT Sensor (Switzerland)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations