Weigh-in-Motion System Market Analysis | 2023-2028

Market Insights

The weigh-in-motion system market was estimated at USD 1.11 billion in 2022 and is likely to grow at a healthy CAGR of 10% during 2023-2028 to reach USD 1.97 billion in 2028.

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Introduvtion

Weigh-in-motion devices are made to find and monitor axle weights and gross weights while moving vehicles past a measuring station. When a vehicle is moving at a low or medium speed through traffic, WIM systems can evaluate it and prevent it from stopping. They have the power to increase traffic safety, stop surface deterioration, and lessen the likelihood of accidents. Additionally, weight-based toll collection employs them.

Infrastructure is impacted by heavy-duty trucks in many ways. Heavy-duty vehicles that are overloaded might harm the roads. To save on road wear and tear, weigh-in-motion systems assist in preventing heavy vehicles from accessing the roadways. Roadways that see an increase in heavy-duty vehicle traffic are more vulnerable to deterioration than other types of roads.

These require repairs more frequently than other types of roads because of the unusually high and fast traffic. By guaranteeing that the roads are kept safe through continuous recording, monitoring, and law enforcement measures, the weigh-in-motion system assists local governments and transportation departments in budgeting and planning effectively.

Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the weigh-in-motion system market:

• Mettler Toledo
• Kistler
• Kapsch Trafficcom
• Road Dynamics Inc.
• KEMEK.
• EFKON
• Intercomp
• Cross Zlin
• Celtronic Automation Pvt., Ltd.
• Traffic Data Systems GmbH

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Vehicle Speed Type

The weigh-in-motion system market is segmented into low-speed and high-speed. The low-speed system has several benefits over the high-speed weigh-in-motion system, including lower operating costs, easier installation, less maintenance, and greater accuracy. Logistics facilities, oil and refineries, and the agricultural and mining industries all have low-speed systems installed. Industry experts have suggested that mining and agriculture are two possible markets for low-speed WIM technology. The majority of highway tolls in North America and Asia Pacific are fitted with slow-moving weigh-in-motion systems. The low cost compared to the high-speed Weigh-In-Motion System Market is the main factor driving the high adoption rate of low-speed systems in the Asia Pacific region. Regularity authorities in North America forbid a system with lower precision.

By Type

The market is segmented into in-road, bridge weigh, and onboard. Onboard is expected to remain dominant in the market during the forecast period. Instead of being installed on the road, the onboard Weigh-In-Motion System Market is connected to the cars. This system is capable of transferring vehicle weight data from a moving vehicle to the information storage system at any moment. The market share of the onboard system was quite low. Nevertheless, it is anticipated to experience the fastest growth during the forecast period. Industry experts' observations suggest that the onboard system is the future of the WIM system market. There are many benefits to the onboard Weigh-In-Motion System Market over other systems. It can operate at any vehicle speed, is inexpensive, and requires little maintenance.

By End-Use Type

The market is segmented into highway tolls, oil & refineries, logistics, and others. Highway tolls are expected to remain dominant in the market during the forecast period. The majority of highway tolls have fast weigh-in-motion systems because they help identify overweight vehicles without impeding traffic flow. However, due to their low cost and regulatory concerns, regions like the Asia Pacific and North America have low-speed Weigh-In-Motion System Markets. On the other hand, because of increased freight traffic and free product movement within ECU nations, highway tolls in Europe are outfitted with high-speed Weigh-In-Motion System Markets. During the anticipated period, the market for weigh-in-motion systems is expected to be dominated by the segment for highway tolls. Highway tolls typically use weigh-in-motion systems to reduce traffic congestion and identify overweight vehicles.

By Component Type

The market is segmented into hardware, software, & services. Hardware is expected to remain dominant in the market during the forecast period. Several sensors and controllers are included in the hardware segment. These sensors frequently gather data on the properties of the vehicle. On the other hand, a controller processes the traffic and other relevant data that the sensors have acquired and stores it in the data warehouse. During the anticipated period, the hardware segment is anticipated to rule the weigh-in-motion system market. The ECU area, followed by North America, dominates the hardware market.

Regional Insights

Asia-Pacific is expected to remain the largest market for the weigh-in-motion system during the forecast period due to growing freight traffic and free product movement between European countries, which has increased traffic on national and international highways in toll plazas Europe is anticipated to be the most significant Weigh-In-Motion System Market throughout the forecast period. WIM devices frequently identify overweight trucks without obstructing traffic. Because of rising investments in intelligent transportation systems, smart traffic management, and smart cities, particularly in China and India, the Asia-Pacific WIM system market is predicted to grow at the quickest rate.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s weigh-in-motion system market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The weigh-in-motion system market is segmented into the following categories.

By Vehicle Speed Type

• Low-Speed
• High-Speed

By Type

• In-road
• Bridge Weigh
• Onboard

By End-Use Type

• Highway Toll
• Oil & Refinery
• Logistics
• Others

By Component Type

• Hardware
• Software & Services

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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