Strain Gages Market Size, Share, Growth, And Industry Analysis, By Type (Stress Analysis Type, Transducer Type and Other), By Application (Electrical Equipment, Civil Engineering, Building Construction, Chemicals and Medicine and Other), Regional Insights, and Forecast To 2032

Updated On: 08 July 2024

Strain Gages Market Report Overview

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The global strain gages market size was USD 1230.6 million in 2023 and market is projected to touch USD 1665.3 million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.4% during the forecast period.

Strain gauges are instruments used to gauge a material's deformation, or strain. In stress analysis, where the stress in a material is determined by measuring the deformation that tension causes, strain gauges are most frequently utilized. There are numerous techniques to measure this deformation, but the most popular is by using a strain gauge. Mechanical strain gauge sensors, electrical strain gauge sensors, and piezoelectric strain gauge sensors are the three types of strain gauge sensors that make up the market. Bounded strain gauges and unbounded strain gauges are the two market segments that have been established based on mounting type. Optical sensors, semiconductor strain gauges, photoelectric gauges, thin-film strain gauges, and diffused semiconductor strain gauges are the various market segments based on construction. The market for strain gauge sensors has been divided into deflection and bending measurement, residual stress, strain measurement, torque measurement, and vibration monitoring based on application.

The markets for strain gages (gauges) and transducers have expanded over the past ten years as industrial and household appliances have developed. The sophisticated mechanical and electronic equipment utilized in companies is expensive and requires a lot of upkeep. Pressure monitoring and management of these fluids are crucial for extending the lifespan of industrial equipment involving fluid flow. The market for pressure transmitters and transducers has been driven by these considerations. The world's expanding use of strain gauge sensors is largely due to the precise determination of appropriate measuring points, bonding with full, half, and quarter bridges, temperature, bending, and centrifugal force correction. Another key element influencing the market for strain gauge sensors is the use of these devices for test objects up to one tonne in weight. Chemical, metal, biotechnology, material, and the food and beverage sectors are a few of the main end-user industries for strain gauge sensors. There are numerous industries where strain gauge sensors can be used.

COVID-19 Impact: Government Restrictions to Hamper Market Growth

Due to mandatory lockdowns and other restrictions set by the relevant regulating bodies in the wake of the recent COVID-19 outbreak, the activities of various industries have either been temporarily suspended or are running with small personnel. Similar to other markets, the worldwide Strain Gages market is expected to experience a major decline in revenue growth as a result of this aspect. Another aspect that can limit the expansion of the global market's revenue during this projected period is the high cost of these machines' installation and maintenance.

Latest Trends

"Wireless Sensors to Enhance Market Sales"

One of the main factors driving the market's expansion is the growing use of wireless sensing technologies, which allow for the portable use of portable devices to monitor important metrics in real-time. Wireless devices also gave the industry a new platform to draw in new customers.

Strain Gages Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into stress analysis type, transducer type and other.

In terms of product, transducer type is the largest segment.

• By Application Analysis

Based on application, the market can be divided into electrical equipment, civil engineering, building construction, chemicals and medicine and other.

In terms of application, electrical equipment is the largest segment.

Driving Factors

"Several Applications of the Equipment to Augment Market Growth"

There are numerous industries where strain gauge sensors can be used. The properties of these sensors, such as the quantity of gauges in a gauge pattern, the strength of a grid's resistance, the sensitivity to temperature, their affordability, gauge length, and gauge breadth, dictate how they are used. Chemical, metal, biotechnology, material, and the food and beverage sectors are a few of the main end-user industries for strain gauge sensors. The world's expanding use of strain gauge sensors is largely due to the precise determination of appropriate measuring points, bonding with full, half, and quarter bridges, temperature, bending, and centrifugal force correction.

"Rising Demand for Accurate Sensors to Fuel Market Growth"

As the requirement for precise measurement and control grows, strain gauge demand is rising in the automotive and aerospace industries. Testing in the outdoors frequently differs significantly from testing in an ideal laboratory. The ability of strain gauges to function under challenging conditions while producing reliable, precise findings is one of the main factors contributing to their high value. A specialized instrument like a strain gauge is frequently required when an engineer evaluates objects with atypical forms in challenging conditions with challenging access arrangements. For instance, FEA (Finite Element Analysis) and CAD (Computer Aided Design) simulation findings are validated in aerospace applications using millions of strain gauges. These experiments are frequently carried out under dynamic circumstances to accurately depict the effects of various stresses on aircraft.

Restraining Factors

"Complex Design of the Equipment to Impede Market Expansion"

For load detection and vibration sensing (Static and dynamic Load) bonded metal wire type strain gauge drawbacks prone to creep mistake. Since they are immediately glued to the specimen and extremely sensitive, the accuracy will diminish over time as the adhesive wears. One of the technical barriers to the expansion of the global strain gages market growth is the complexity of design and installation.

Strain Gages Market Regional Insights

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"North America to Dominate the Market Due to Advanced Technology"

In terms of revenue share, North America dominated the world market and owns largest portion of strain gages market share. Over the projection period, the region is expected to continue to rule. This is due to an increase in research and development efforts and a high rate of advanced technology adoption across a variety of businesses. Furthermore, the existence of significant businesses like 3M and Honeywell International Inc., who are leaders in the manufacture of strain gages, is also anticipated to support regional growth during the following eight years.

Given the growing demand for consumer electronics products and the expansion of infrastructure projects, particularly in the areas of roads and railroads, in nations like China, India, and Japan, among others, the Asia Pacific region is predicted to grow profitably over the course of the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The main business tactics used by the companies competing in the global market for strain gauge sensors include the development of new products, research endeavours, and strategic collaboration agreements with other businesses. The Crane Group of Companies, FUTEK Advanced Sensor Technology, Inc., HBM Kyowa Electronic Instruments Co. Ltd. Vishay Intertechnology, Inc., ATI Industrial Automation, OMEGA Engineering, Piezo-Metrics Inc., Piezo-Metrics Inc., and ABB Group.

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• VPG (U.S.)
• HBM (Germany)
• Zemic (China)
• Yiling (China)
• HYCSYQ (India)
• NMB (Tanzania)
• KYOWA (Japan)
• LCT (U.S.)
• Omega (Switzerland)
• TML (India)

Report Coverage

A thorough analysis of the market is included in the research. It does this using in-depth qualitative insights, historical information, and reliable market size predictions. The report's forecasts were created utilizing established research techniques and presumptions. This allows the research study to act as a central source of analysis and data for all market-related topics, such as regional markets, technology, types, and applications.