Global Strain Gauges Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Metal Strain Gauges Sensors, Semiconductor Strain Gauges Sensors), By Application (Industrial Measurement & Control, Weighing Equipment, Aerospace, Others), And By Geography - Forecasts From 2021 To 2026

The global strain gauges market is evaluated at US$297.012 million for the year 2019 growing at a CAGR of 3.99% to reach the market size of US$390.547 million by the year 2026.

Market Overview.

Original equipment manufacturers also tend to rely on strain gauge sensing technology. This increases the demands for this market propelling its growth and creating greater future opportunities.

The market has been significantly driven by the increasing expenditures done on research and development by several governments and key market players in the end-user industries which are further expected to fuel the demand for strain gauges during the forecast period.

Impact of COVID-19 on the Strain Gauges Market

The advent of COVID-19 had a negative impact on the strain gauges market given that the end-user industries of the equipment suspended their operations for several months during the pandemic. This was done due to the strict guidelines issued by the governments of several countries in order to curb the widespread of the disease. This further resulted in the disruptions of the supply chain across industries. The pandemic impacted the supply side of the market as well, as it became difficult to obtain the raw materials required to produce the product. The demand for strain gauges declined from several industries resulting in a drastic decline in the market during the year. As the industries resume their operations and the suspended projects, the demand for strain gauges is expected to recover in the coming year. This trend will be followed during the forecast period as well.

An increasing number of applications of the product is expected to fuel the market during the forecast period.

The ongoing and upcoming developments in various industrial sectors have driven the demand for strain gauges and are expected to do so in the coming years as well. The strain gauges have found several applications in industries like aerospace and rail in the recent year given the infrastructural developments taking place in the sectors. In the aerospace industry, strain gauges are bonded to load-bearing components within air crafts to measure any strain and stress which takes place within various areas during flight. 

Global Strain Gauges Market Scope:

Segmentation

• By Type
  • Metal Strain Gauges Sensors
  • Semiconductor Strain Gauges Sensors
• By Application
  • Industrial Measurement & Control
  • Weighing Equipment
  • Aerospace
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Others
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the strain gauges market size by 2026?
A1. The global strain gauges market is projected to reach a total market size of US$390.547 million in 2026. 

Q2. What are the growth prospects for the strain gauges market?
A2. The strain gauges market is projected to grow at a CAGR of 3.99% during the forecast period.

Q3. What is the size of global strain gauges market?
A3. Strain Gauges Market was valued at US$297.012 million in 2019.

Q4. How is the strain gauges market segmented?
A4. The global strain gauges market has been segmented by type, application, and geography.

Q5. What factors are anticipated to drive the strain gauges market growth?
A5. The ongoing and upcoming developments in various industrial sectors have driven the demand for strain gauges and are expected to do so in the coming years as well.