PUBLISHER: The Business Research Company | PRODUCT CODE: 1539825
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539825
A weigh-in-motion (WIM) system is a technology designed to measure the weight of vehicles as they travel over sensor-equipped roadways or weighbridges. This system is employed for monitoring and enforcing weight limits, collecting traffic data, and managing road safety and maintenance. The primary goal of WIM systems is to provide precise, real-time weight data without disrupting traffic flow, thereby enhancing transportation efficiency and infrastructure management.
The main types of weigh-in-motion systems include the weighbridge system, the in-road system, and the onboard system. A weighbridge system consists of a stationary platform where vehicles drive onto for weight measurement, ensuring compliance with weight regulations and improving road safety monitoring. Its components encompass hardware, sensor arrays, control and measurement systems, processing and reporting systems, support devices and infrastructure, software, and services. The technologies used are bending plates, load cells, piezoelectric sensors, and strain gauge strips. These systems are applied in vehicle profiling, axle counting, weight enforcement, weight-based toll collection, bridge protection, and traffic data collection. They serve various sectors such as agriculture, aviation, oil and refinery, ports and logistic hubs, process industries, railways, and roadways.
The weigh-in-motion system market research report is one of a series of new reports from The Business Research Company that provides weigh-in-motion system market statistics, including weigh-in-motion system industry global market size, regional shares, competitors with a weigh-in-motion system market share, detailed weigh-in-motion system market segments, market trends and opportunities, and any further data you may need to thrive in the weigh-in-motion system industry. This weigh-in-motion system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The weigh-in-motion system market size has grown rapidly in recent years. It will grow from $1.12 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth during the historic period can be attributed to several factors, increasing road freight transport, government regulations on vehicle overloading, rising traffic congestion, the need for road safety and maintenance, and the demand for efficient traffic management solutions.
The weigh-in-motion system market size is expected to see rapid growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The anticipated growth in the forecast period can be attributed to an increased focus on road infrastructure development, rising investments in smart city initiatives, government efforts for toll collection automation, a demand for real-time traffic data analytics, and the need for effective traffic law enforcement. Major trends expected during this period include the integration with Internet of Things (IoT) devices, the development of cloud-based data management solutions, the adoption of machine learning and AI for traffic prediction, a shift towards automated and autonomous vehicle technologies, and an enhanced focus on cybersecurity for transportation systems.
The exponential increase in road freight traffic is anticipated to drive the growth of the weigh-in-motion (WIM) system market. Road freight traffic involves transporting goods and commodities via trucks and other commercial vehicles on roadways. This surge is fueled by rising consumer demand, the expansion of e-commerce, the globalization of supply chains, urbanization leading to more local deliveries, and the adoption of just-in-time inventory strategies. Weigh-in-motion systems enable real-time monitoring of vehicle weights, ensuring compliance with weight regulations, enhancing road safety, reducing infrastructure wear and tear, and promoting efficient and sustainable freight transport operations amidst the exponential rise in road freight traffic. For example, data published by the Bureau of Transportation Statistics (BTS) and the Federal Highway Administration (FHWA) in November 2021, agencies within the Department of Transportation (DOT), projected a 50% increase in U.S. freight tonnage from 2020 to 2050, reaching 28.7 billion tons, with the value doubling to $36.2 trillion. Consequently, the exponential rise in road freight traffic is propelling the weigh-in-motion system market.
Key companies in the weigh-in-motion system market are increasingly focusing on launching innovative solutions such as the rail weigh-in-motion (Rail WIM) system to enhance accuracy, data collection, and overall system efficiency. A Rail WIM system measures the weight of railway vehicles while they are in motion. For instance, in August 2021, Kistler Group, a Switzerland-based measurement technology company, launched the next-generation rail weigh-in-motion (RWIM) system. This new solution provides multiple parameters of rail vehicles based on an improved piezoelectric sensor and system design. Kistler's new RWIM system delivers accurate and reliable data for rail traffic monitoring, enabling operators to manage their rail networks more efficiently. This innovation builds on the company's extensive expertise in measurement technology and commitment to offering advanced solutions to the rail industry.
In November 2023, Rice Lake Weighing Systems, a US-based provider of weight-related products and process-control equipment, acquired UTILCELL, s.r.o. for an undisclosed amount. This acquisition enhances global presence, expands product offerings, ensures management continuity, and strengthens competitiveness in the weigh-in-motion system market, facilitating increased market share and growth opportunities. UTILCELL, s.r.o. is a Spain-based manufacturer of load cells, accessories, and weighing electronics used in weigh-in-motion systems.
Major companies operating in the weigh-in-motion system market are TE Connectivity Ltd., Mettler-Toledo International Inc., Kistler Group, Cardinal Scale, Kapsch TrafficCom AG, Essae Digitronics (P) Ltd., Oriux, Blickfeld GmbH, Intercomp, Sensys Networks Inc., Cross Zlin, CAMEA spol. s r.o., Precision Weighing Systems, Althen Sensors & Controls, Ashbee Systems Ltd., Avery Weigh-Tronix Inc., Marsden Weighing Machine Group Limited, Aditya Technologies, Imagic Solution, International Road Dynamics Inc., Matrix Weighing Systems Pvt. Ltd., OSMOS Group SA, Weigh-More Solutions Pty Ltd.
Europe was the largest region in the weigh-in-motion system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the weigh-in-motion system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the weigh-in-motion system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The weigh-in-motion system market consists of revenues earned by entities by providing services such as installation, calibration, maintenance, repair, data analytics, reporting, training, consultancy, remote monitoring, troubleshooting, and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The weigh-in-motion system market also includes sales of products such as wireless communication modules, roadside enclosures, real-time dashboard displays, and power management systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Weigh-In-Motion System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on weigh-in-motion system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for weigh-in-motion system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The weigh-in-motion system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.