Strain Gauge equipment is generally smaller than even a postage stamp and is used to measure pressure, acceleration, displacement, length, tension, weight, etc. A strain gauge converts the force applied upon it into a change in its electrical resistance, which can then be measured. This property of the strain gauge makes it useful in a wide variety of industries such as construction, infrastructure, and automotive. The equipment is small in size but very important, as it helps ensure the strength, appropriateness, and stability of many structures such as bridges, railway lines, buildings, etc., as well as parts used in automotive such cars, airplanes, and ships.

The global Strain Gauge market can be segmented based on type, application, and end-user industry.

In terms of type, the market can be classified into metal strain gauge and semiconductor strain gauge. The metal strain gauge witnessed significant demand in the market, as it can be applied for a large range of applications. The semiconductor strain gauge is utilized in cases of high sensitivity such as the measurement of local strains in ICs. The measurement of high-level sensitivity requires a high value of gauge factor, which is provided by a semiconductor strain gauge. A higher gauge factor results in a comparatively higher change in resistance, which is easy to measure accurately.

In terms of application, the global strain gauge market can be segregated into measurement of strain and measurement of other quantities. Strain gauges are most commonly utilized for the measurement of strain. However, other quantities which can be measured include length, weight, tension, displacement, etc.

In terms of the end-user industry, the global strain gauge market can be segmented into energy, transportation, and others. The energy industry, such as oil & gas, power, and mining, is witnessing a considerable demand for strain gauges. The transportation industry comprising automotive, rail, vessels, and aerospace also accounts for an important share of the demand for strain gauges. The others segment includes infrastructure, buildings, manufacturing, and research centers.

In terms of region, the global strain gauge market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Demand for strain gauge is highest in the developed regions of North America and Europe because the quality standard of equipment and infrastructure, as well as the required safety levels are high in these regions. Meanwhile, the demand is increasing in the developing regions of Asia Pacific, Latin America, and the Middle East & Africa due to the improving standards of infrastructure in these regions.

Key players operating in the global strain gauge market include Vishay Precision Group Inc., Hottinger Baldwin Messtechnik GmbH, NMB Technologies Corporation, Kyowa Electronic Instruments Co., Ltd., Zemic Worldwide, Shanghai Yiling Electrical Measuring Instruments Company, Zhejiang Huangyan Testing Apparatus Factory, Xiamen Loadcell Technology Co., Ltd., Huahailan, OMEGA Engineering, Tokyo Sokki Kenkyujo Co., Ltd., and BCM Sensor Technologies bvba.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Strain Gauge Market

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