Global Strain Gauges Market 2020-2024
Technavio has been monitoring the strain gauges market and it is poised to grow by USD 64.37 mn during 2020-2024 progressing at a CAGR of 4% during the forecast period. Our reports on strain gauges market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing demand for strain gauges for field testing and stress and strain analysis, large number of applications of strain gauges in industries and growing demand for medical devices and compatible strain gauges. In addition, increasing demand for strain gauges for field testing and stress and strain analysis is anticipated to boost the growth of the market as well.
The strain gauges market analysis includes application segment and geographical landscapes.
Technavio's strain gauges market is segmented as below:
- Force and torque measurement
- Weighing and lifting equipment
- Field testing
- Aerospace and defense
By Geographic Landscapes
- North America
- South America
This study identifies the development of highly sensitive strain gauges as one of the prime reasons driving the strain gauges market growth during the next few years. Also, gradually increasing the concentration ratio of the market and availability of custom strain gauges will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our strain gauges market covers the following areas:
- Strain gauges market sizing
- Strain gauges market forecast
- Strain gauges market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading strain gauges market vendors that include GEOKON, Haptica Srl, Hitec Products Inc., Hottinger Brüel & Kjaer GmbH, Interface Inc., Kyowa Electronic Instruments Co. Ltd., MinebeaMitsumi Inc., Spectris Plc, Tokyo Measuring Instruments Laboratory Co. Ltd., and Vishay Precision Group Inc. Also, the strain gauges market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.