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Strain Gauges Market by Application and Geography - Global Forecast and Analysis 2019-2023

Global Strain Gauges Market: About this market

Technavio’s strain gauges market analysis considers sales from both force and torque measurement, weighing and lifting equipment, field testing, aerospace and defense, and others. Our analysis also considers the sales of strain gauges in APAC, Europe, North America, South America, and MEA. In 2018, the force and torque measurement segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing investments in wastewater treatment capacities and biofuel production will play a significant role in the force and torque measurement segment to maintain its market position. Also, our global strain gauges market report looks at factors such as increasing demand for strain gauges or field testing and stress and strain analysis, a large number of applications of strain gauges in industries, and growing demand for medical devices and compatible strain gauges. However, highly fragmented market, lack of expertise to assess stress patterns in small scale industries, and the emergence of substitutes of strain gauges may hamper the growth of the strain gauges industry over the forecast period.

Global Strain Gauges Market: Overview

A large number of applications of strain gauges in industries

The torque applied by rotating equipment such as motors, turbines, engines, wheels, and propellers is measured using torque transducers. Torque transducers are equipped with strain gauges. Most of the industrial facilities such as power plants, refineries, steel and cement mills, and automotive plants are equipped with rotating equipment. Thus, growing investments in industrial facilities usually lead to an increase in the demand for torque transducers and strain gauges for the measurement of torque. This increase in the number of applications of strain gauges will lead to the expansion of the overall market at a CAGR of almost 5% during the forecast period.

Development of highly sensitive strain gauges

Strain gauges are not suitable for applications that require high sensitivity, as they are designed for industrial application exhibiting low sensitivity. Applications such as robotics exhibit strong demand for highly sensitive strain gauges. This is leading the vendors to introduce strain gauges which that are highly sensitive. For instance, MinebeaMitsumi developed a new film to manufacture ultra-high sensitive strain gauge. This film is highly sensitive and has smaller footprints. Moreover, the company believes that this strain gauge can be used in haptic robots or devices and in interface solutions in the automotive industry. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global strain gauges market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global strain gauges market is fragmented. 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 manufacturers, that include Kyowa Electronic Instruments Co. Ltd., Minebea Mitsumi Inc., Spectris Plc, Tokyo Measuring Instruments Laboratory Co. Ltd., 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.


PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
2.1 Preface
2.2 Preface
2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market ecosystem
Market characteristics
Market segmentation analysis
PART 04: MARKET SIZING
Market definition
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
Market segmentation by application
Comparison by application
Force and torque measurement - Market size and forecast 2018-2023
Weighing and lifting equipment - Market size and forecast 2018-2023
Field testing - Market size and forecast 2018-2023
Aerospace and defense - Market size and forecast 2018-2023
Others - Market size and forecast 2018-2023
Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
Geographic segmentation
Geographic comparison
APAC - Market size and forecast 2018-2023
North America - Market size and forecast 2018-2023
Europe - Market size and forecast 2018-2023
MEA - Market size and forecast 2018-2023
South America - Market size and forecast 2018-2023
Key leading countries
Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
Market drivers
Market challenges
PART 11: MARKET TRENDS
Development of highly sensitive strain gauges
Gradually increasing concentration ratio of the market
Availability of custom strain gauges
PART 12: VENDOR LANDSCAPE
Overview
Landscape disruption
Competitive scenario
PART 13: VENDOR ANALYSIS
Vendors covered
Vendor classification
Market positioning of vendors
Kyowa Electronic Instruments Co. Ltd.
MinebeaMitsumi Inc.
Spectris Plc
Tokyo Measuring Instruments Laboratory Co. Ltd.
Vishay Precision Group Inc.
PART 14: APPENDIX
Research methodology
List of abbreviations
Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Exhibit 01: Product overview
Exhibit 02: Global test and measurement equipment market
Exhibit 03: Segments of global test and measurement equipment market
Exhibit 04: Market characteristics
Exhibit 05: Market segments
Exhibit 06: Market definition - Inclusions and exclusions checklist
Exhibit 07: Market size 2018
Exhibit 08: Global market: Size and forecast 2018-2023 ($ millions)
Exhibit 09: Global market: Year-over-year growth 2019-2023 (%)
Exhibit 10: Five forces analysis 2018
Exhibit 11: Five forces analysis 2023
Exhibit 12: Bargaining power of buyers
Exhibit 13: Bargaining power of suppliers
Exhibit 14: Threat of new entrants
Exhibit 15: Threat of substitutes
Exhibit 16: Threat of rivalry
Exhibit 17: Market condition - Five forces 2018
Exhibit 18: Application - Market share 2018-2023 (%)
Exhibit 19: Comparison by application
Exhibit 20: Force and torque measurement - Market size and forecast 2018-2023 ($ millions)
Exhibit 21: Force and torque measurement - Year-over-year growth 2019-2023 (%)
Exhibit 22: Weighing and lifting equipment - Market size and forecast 2018-2023 ($ millions)
Exhibit 23: Weighing and lifting equipment - Year-over-year growth 2019-2023 (%)
Exhibit 24: Field testing - Market size and forecast 2018-2023 ($ millions)
Exhibit 25: Field testing - Year-over-year growth 2019-2023 (%)
Exhibit 26: Aerospace and defense - Market size and forecast 2018-2023 ($ millions)
Exhibit 27: Aerospace and defense - Year-over-year growth 2019-2023 (%)
Exhibit 28: Others - Market size and forecast 2018-2023 ($ millions)
Exhibit 29: Others - Year-over-year growth 2019-2023 (%)
Exhibit 30: Market opportunity by application
Exhibit 31: Customer landscape
Exhibit 32: Market share by geography 2018-2023 (%)
Exhibit 33: Geographic comparison
Exhibit 34: APAC - Market size and forecast 2018-2023 ($ millions)
Exhibit 35: APAC - Year-over-year growth 2019-2023 (%)
Exhibit 36: North America - Market size and forecast 2018-2023 ($ millions)
Exhibit 37: North America - Year-over-year growth 2019-2023 (%)
Exhibit 38: Europe - Market size and forecast 2018-2023 ($ millions)
Exhibit 39: Europe - Year-over-year growth 2019-2023 (%)
Exhibit 40: MEA - Market size and forecast 2018-2023 ($ millions)
Exhibit 41: MEA - Year-over-year growth 2019-2023 (%)
Exhibit 42: South America - Market size and forecast 2018-2023 ($ millions)
Exhibit 43: South America - Year-over-year growth 2019-2023 (%)
Exhibit 44: Key leading countries
Exhibit 45: Market opportunity
Exhibit 46: Impact of drivers and challenges
Exhibit 47: Vendor landscape
Exhibit 48: Landscape disruption
Exhibit 49: Vendors covered
Exhibit 50: Vendor classification
Exhibit 51: Market positioning of vendors
Exhibit 52: Kyowa Electronic Instruments Co. Ltd. - Vendor overview
Exhibit 53: Kyowa Electronic Instruments Co. Ltd. - Product segments
Exhibit 54: Kyowa Electronic Instruments Co. Ltd. - Organizational developments
Exhibit 55: Kyowa Electronic Instruments Co. Ltd. - Key offerings
Exhibit 56: MinebeaMitsumi Inc. - Vendor overview
Exhibit 57: MinebeaMitsumi Inc. - Business segments
Exhibit 58: MinebeaMitsumi Inc. - Organizational developments
Exhibit 59: MinebeaMitsumi Inc. - Segment focus
Exhibit 60: MinebeaMitsumi Inc. - Key offerings
Exhibit 61: Spectris Plc - Vendor overview
Exhibit 62: Spectris Plc - Business segments
Exhibit 63: Spectris Plc - Organizational developments
Exhibit 64: Spectris Plc - Geographic focus
Exhibit 65: Spectris Plc - Segment focus
Exhibit 66: Spectris Plc - Key offerings
Exhibit 67: Tokyo Measuring Instruments Laboratory Co. Ltd. - Vendor overview
Exhibit 68: Tokyo Measuring Instruments Laboratory Co. Ltd. - Product segments
Exhibit 69: Tokyo Measuring Instruments Laboratory Co. Ltd. - Organizational developments
Exhibit 70: Tokyo Measuring Instruments Laboratory Co. Ltd. - Key offerings
Exhibit 71: Vishay Precision Group Inc. - Vendor overview
Exhibit 72: Vishay Precision Group Inc. - Business segments
Exhibit 73: Vishay Precision Group Inc. - Organizational developments
Exhibit 74: Vishay Precision Group Inc. - Geographic focus
Exhibit 75: Vishay Precision Group Inc. - Segment focus
Exhibit 76: Vishay Precision Group Inc. - Key offerings
Exhibit 77: Validation techniques employed for market sizing
Exhibit 78: Definition of market positioning of vendors

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