Strain Gauges Market 2028 By Type, Application and Geography | The Insight Partners

MARKET OVERVIEW

A strain gauge is a device that is used to measure strain on an object. The strain gauge is used in various fields such as mechanical engineering development, to measure the strain generated by machinery, and in the testing of aircraft like linkage and structural damage. Additionally, strain gauge has a wide range of applications in industrial measurement. These are the major drivers of the strain gauge market. Strain gauge sensing technologies are adopted by various end-user to achieve greater benefits; this increases the demand for strain gauges, thus propelling the growth of the strain gauge market.

MARKET SCOPE

The "Global Strain Gauges Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the strain gauges market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading strain gauges market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global strain gauges market is segmented into metal strain gauge sensors and semiconductor strain gauge sensors.
  
•   On the basis of application, the market is segmented into industrial measurement and control, weighing equipment, aerospace, and others.
  

MARKET DYNAMICS
Drivers:

•   A strain gauge is very small, but it helps to ensure strength, the stability of structural construction such as in railway lines, bridges, buildings, and others. Due to the large variety of applications, the rising demand for the strain gauge, that drives the growth of the strain gauge market.
  
•   Strain gauges are more sensitive, cheap, high-pressure range, no creep, and has strong output signal, this property of strain gauge makes it very useful in several application which fuels the growth of the market.
  
•   The increasing use of strain gauges in manufacturing, aerospace, automotive, and other industry is expected to drive the growth of the strain gauges market.
  

Restraints:

•   Lack of skilled professionals may hinder the growth of the strain gauges market.
  

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REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The strain gauges market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the strain gauges market in these regions.

IMPACT OF COVID-19 ON STRAIN GAUGES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

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MARKET PLAYERS

The report covers key developments in the strain gauges market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from strain gauges market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the strain gauges market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   BCM Sensor
  
•   HBM
  
•   Hitec Products, Inc
  
•   Kyowa Electronic Instruments Co., Ltd.
  
•   OMEGA
  
•   Piezo-Metrics, Inc
  
•   Tokyo Measuring Instruments Laboratory Co, Ltd
  
•   Vishay Precision Group, Inc.
  
•   Zemic
  
•   Zhejiang Huangyan Testing Apparatus Factory
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

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