The weigh-in-motion system market is estimated to be USD 913 million in 2019 and is projected to reach USD 1,656 million by 2026, at a CAGR of 8.89%
NEW YORK, May 8, 2019 /PRNewswire/ -- The increasing government initiatives towards intelligent transportation system and increasing public-private partnerships (PPPs) will drive the weigh-in-motion system market.
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The weigh-in-motion system market is estimated to be USD 913 million in 2019 and is projected to reach USD 1,656 million by 2026, at a CAGR of 8.89%. The demand for weigh-in-motion system is driven by increasing government initiatives towards intelligent transportation system, increasing public-private partnerships (PPPs), increasing traffic congestion, and low cost compared with static weigh system. However, a lack of standardization and uniform technologies can restrain the weigh-in-motion system market.
The in-road segment is estimated to be the largest weigh-in-motion system market, by type.
In terms of type, the in-road segment is estimated to dominate the weigh-in-motion system market in 2019 and is anticipated to remain the dominant segment during the forecast period.In the in-road weigh-in-motion system, the sensors are installed beneath the road surface.
These sensors capture and record the passing vehicle's information such as weight, length, and class in the data storage system.In-road weigh-in-motion systems are used in industry verticals such as highway tolls, logistics centers, and oil & refinery.
As of 2018, the European region dominated the in-road weigh-in-motion system market due to increase in freight traffic and free trade agreements between the European countries.
The high-speed WIM system segment is estimated to grow at the fastest rate in the weigh-in-motion system market.
The high-speed system segment is estimated to be the fastest growing weigh-in-motion system market during the forecast period.In this system, the moving vehicle does not need to slow down at the weigh stations or toll gates, which reduces traffic congestion and processing time.
However, a high-speed weigh-in-motion system is more expensive than a low-speed weigh-in-motion system and requires frequent maintenance for accuracy.Furthermore, a high-speed weigh-in-motion system has less accuracy than the low-speed weigh-in-motion system.
Factors such as vehicle suspension, friction in the suspension, and vehicle oscillation impact the accuracy of a high-speed weigh-in-motion system.The European region dominates the high-speed weigh-in-motion market as of 2018.
On the other hand, North America has a limited share of the high-speed weigh-in-motion system market. However, increasing traffic congestion on national and international highways is expected to result in the replacement of low-speed weigh-in-motion systems with high-speed weigh-in-motion systems in the coming years.
Europe is estimated to be the largest weigh-in-motion system market during the forecast period.
The European region is projected to lead the weigh-in-motion system market during the forecast period due to the increase in freight traffic and the free movement of goods across European countries.Most of the highway tolls in the region are equipped with a high-speed WIM system, which is costlier than the low-speed WIM system.
Germany, UK, and France are some of the leading countries in the European region for a high-speed WIM system.
In-depth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the weigh-in-motion system marketplace.
• By Company Type: System Manufacturer - 45%, Tier I - 35%, and Others - 20%
• By Designation: C level - 40%, D level - 35%, Other - 25%
• By Region: North America - 35%, Europe - 30%, Asia Pacific - 25%, Others-10%
Note: Others includes sales managers, marketing managers, and product managers
Note: System Manufacturer is the complete weigh-in-motion system manufacturer, Tier-1 companies are component suppliers, and other companies are associations, private toll operators and among others
Some of the key players in the weigh-in-motion system market are Kapsch TrafficCom (Austria), Q-Free (Norway), METTLER TOLEDO (US), Avery Weigh-Tronix (Illinois Tool Works) (US), TE Connectivity (Switzerland), International Road Dynamics (Quarterhill) (US), Kistler (Switzerland), TransCore (Roper Technologies) (US), Axis Communications (Sweden), and EFKON (Austria). The study includes an in-depth competitive analysis of these key players in the weigh-in-motion system market, with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
Research Coverage
The weigh-in-motion system market has been segmented on the basis of vehicle speed (low speed, high speed), type (in-road, bridge weigh, onboard), end-use industry (highway toll, oil & refinery, logistics, and others), component (hardware, software & services), sensor (image sensor, piezoelectric sensor, bending plate, inductive loop, magnetic sensor, acoustic detector, infrared sensor, radar sensor, LiDAR sensor, thermal sensor) and region [Asia Pacific (China, Japan, India, South Korea, Thailand), Europe (UK, Germany, France, Spain, Russia, Turkey), North America (US, Canada, Mexico), and RoW (Brazil and South Africa).
Key Benefits of Buying the Report:
This report provides insights with reference to the following points:
• Weigh-in-motion system market size, by vehicle speed: The report offers in-depth market sizing and forecast up to 2026, by vehicle speed, such as low speed and high speed. The market sizing for the weigh-in-motion system by vehicle speed is covered at the country and regional level considered under this study.
• Weigh-in-motion system market size, by type: The report offers in-depth market sizing and forecast up to 2026, by type, such as in-road, bridge weigh, and onboard. The market sizing for type is covered at the regional level considered in the study.
• Weigh-in-motion system market size, by end use industry: The report offers in-depth market sizing and forecast up to 2026, by end use industry such as highway toll, oil & refinery, logistics, and others. The market sizing for the industry is covered at the regional level considered in the study.
• Weigh-in-motion system market size, by component: The report offers in-depth market sizing and forecast up to 2026, by component such as hardware and software & services. The market sizing for component is covered at the regional level considered in the study.
• The report provides the "Market Ranking" of the leading players in the weigh-in-motion system market.
• Market Development: The report provides comprehensive information about lucrative emerging markets for the weigh-in-motion system across regions.
• Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the weigh-in-motion system market.
• Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the weigh-in-motion system market.
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