Weigh in Motion Market: Global Industry Analysis and Forecast (2022-2029)

Weigh in Motion Market size was valued at US$ 948.09 Mn. in 2021 and the total revenue is expected to grow at a CAGR of 10.7% from 2022 to 2029, reaching nearly US$ 2,138.11 Mn.
Weigh in Motion Market Overview:
Weigh in Motion Market is expected to reach US$ 2,138.11 Mn. by 2029. Weigh-in-motion equipment is made to measure axle weights and gross vehicle weights as vehicles pass over a measuring site. This report focuses on the different segments of the Weigh in Motion market (Type, Vehicle Speed, Component, End-use Industry, Function, and Region). This report offers a detailed analysis of the top industry participants and geographic regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It offers a thorough examination of the phenomenal modern-era growth in the many sectors. Figures, graphics, and slideshows emphasise the essential data analysis from 2017 to 2021. The market drivers, restraints, opportunities, and challenges for Weigh in Motion are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Weigh in Motion market.



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COVID-19 Impact on the Weigh in Motion Market:

The growth of end-use sectors including highway toll, oil & refinery, and logistics has a direct impact on the need for weigh-in-motion systems. In 2020, the COVID-19 pandemic had a negative influence on end-use sectors, which led to significantly lower revenue generation globally and had an impact on the market growth for weigh-in-motion systems. Road traffic in Europe decreased by 15% to 25% in 2020 as a result of travel restrictions and a poor macroeconomic environment. Global oil demand decreased from 90,000 barrels per day in 2019 to 99.9 million barrels per day in 2020, according to the International Energy Agency. Weigh-in-motion system market growth is expected to be hampered by the high installation costs coupled with the diminishing revenue generated by end-use industries. However, in 2021, the market for weigh-in-motion systems as a whole grew due to the introduction of vaccines, the relaxation of lockdowns, and the restart of economic and social activities supported by high traffic.
Weigh in Motion Market Dynamics:
The market for weigh-in-motion systems is growing as traffic congestion rises.

Traffic congestion has emerged as one of the key issues, particularly at the toll plaza, and it is expected to get worse during the forecast period as vehicle sales increase across the globe. USDOT claims that the expense of congestion has been increasing in the US at a pace of 8% each year. Drivers in Los Angeles spent an average of 102 hours waiting in traffic last year, followed by Moscow with 91 hours lost to congestion, and London and Paris with losses of 74 and 69 hours, respectively, according to a report released in 2017 by the transport analytics company Inrix. In 2017, the average cost of congestion in Los Angeles was USD 19.2 billion, compared to USD 33.7 billion in New York. In 2017, the overall cost for commuters using vehicles in London was USD 12.2 billion, whereas it was USD 7.5 billion in Berlin. In the US, Germany, and the UK, congestion cost the economy 461 billion dollars in 2017. With the increase in global population and urbanization, costs are rising. The WIM system offers a solution to the congested traffic issue. To reduce traffic congestion, numerous nations, including the US, UK, Germany, India, China, and Japan, have put WIM systems in their highways. Nevada has about six permanent WIM stations, North Dakota has about 16 WIM systems, and California has placed over 110 WIM systems.

During the forecast period, WIM systems are expected to be utilized for forecasting congestion-causing causes in addition to enforcement and monitoring. Traveler information systems, analytics and decision support, advisory services, traffic projection solutions, ticketing, and toll collecting systems are all provided by WIM. To properly monitor and manage traffic, modern instruments like roadside sensors, radio frequency tags, and global positioning systems are also helpful. Consequently, the rate of WIM system adoption will rise in order to handle the growing traffic congestion and traffic management.

Lack of consistent and standardized technology

Solutions for traffic control, like the weigh-in-motion system, lack uniformity and standards. The weigh-in-motion system uses a variety of hardware and software components from different vendors. In addition, different businesses' requirements for sensors, processors, and other hardware don't work with every underlying platform. Additionally, different nations and regions have various communication network standards and protocols, which prevents solution providers from offering their services globally. For instance, the laws governing the gathering and analysis of traffic data in the European Union member states are inconsistent or occasionally null and void. The lack of standardization also affects the aftermarket component replacement of weigh-in-motion systems, which further complicates the maintenance of a WIM system. As a result, a common protocol for communication and workflow for weigh-in-motion systems is required for widespread adoption throughout the world. Therefore, the absence of regulations, guidelines, and specifications for the use of weigh-in-motion systems are expected to restrain the market growth during the forecast period.
Weigh in Motion Market Segment Analysis:
Based on the End-use Industry, the market is segmented into Highway Toll, Oil & Refinery, Logistics, and Other end use industries. Highway Toll segment is expected to hold the largest market share of xx% by 2029. The majority of highway tolls have fast weigh-in-motion system markets 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, due to increased freight traffic and free product movement within ECU nations, highway tolls in Europe are outfitted with high-speed Weigh-In-Motion System Markets. Highway tolls typically use weigh-in-motion system markets to reduce traffic congestion and identify overweight vehicles.



Based on the Vehicle Speed, the market is segmented into In-road, Bridge Weigh, and On-board. On-board weigh in motion system segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The vehicles themselves are equipped with the on-board weigh-in-motion systems rather than the surface of the road. With this technology, weight data for moving vehicles can be transferred at any moment to a data storage system. In comparison to the other two types, on-board weigh-in-motion systems are far more advantageous in terms of cost, maintenance requirements, lack of infrastructure, and ability to operate at any vehicle speed. For instance, the hardware of an on-board weigh-in-motion system is roughly USD 1,100–1,300 more expensive per truck than an in-road low-speed weigh-in-motion system, which ranges in price from USD 25,000–30,000 depending on accuracy.

Based on the Type, the market is segmented into Low-Speed, and High-Speed. Low-Speed weigh in motion system segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The low-speed system has a number of benefits over high-speed weigh-in-motion system markets, including lower operating costs, easier installation, less maintenance, and greater accuracy. Logistics facilities, oil and refineries, agricultural and mining industries all have low-speed systems installed. Industry experts have suggested that mining and agriculture are two possible markets for the 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.

Based on the Component, the market is segmented into Hardware, and Software & Services. Hardware segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. 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 forecast period, the hardware segment is expected to rule the weigh-in-motion system market. The ECU region, followed by North America, dominates the hardware market.
Weigh in Motion Market Regional Insights:
The European region is expected to dominate the Weigh in Motion Market during the forecast period 2022-2029. The European region is expected to hold the largest market share of xx% by 2029. The WAVE (Weigh in Motion of Axles and Vehicles for Europe) project and the COST 323 project were started by the European Commission in the 1990s [WAVE 2002, COST 2002]. To evaluate the robustness and performance of weigh-in-motion systems, WAVE conducted field tests of various weigh-in-motion systems in cold climates. Testing was conducted in Switzerland as part of COST 323 to evaluate the effectiveness and stability of weigh-in-motion devices. Because weigh-in-motion systems are important for reducing traffic congestion, weight enforcement procedures, reducing wear and tear on roads, and maintaining the safety of the roads, European governments have been proactive in putting them into place across nations including the UK, Germany, and France. Weigh-in-motion sensing systems have been widely used in Europe in a variety of applications, including roads, bridges, and railroads.

The objective of the report is to present a comprehensive analysis of the Global Weigh in Motion Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Weigh in Motion Market dynamic and structure by analyzing the market segments and projecting the Global Weigh in Motion Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Weigh in Motion Market make the report investor’s guide.
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Global Weigh in Motion Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 948.09 Mn.


Forecast Period 2022 to 2029 CAGR:
10.7%
Market Size in 2029:
US $ 2,138.11 Mn.


 Segments Covered:
by Type
• Low-Speed
• High-Speed


by Vehicle Speed
• In-road
• Bridge Weigh
• Onboard


by Component
• Hardware
• Software & Services


by End-use Industry
• Highway Toll
• Oil & Refinery
• Logistics
• Other end use industries


by Function
• Vehicle Profiling
• Axle Counting
• Weight Enforcement
• Weight-based Toll Collection
• Traffic Data Collection



Weigh in Motion Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Weigh in Motion Market Key Players
• Q-Free
• International Road Dynamics
• Kapsch Trafficcom
• Kistler
• TE Connectivity
• SWARCO
• FLIR Systems
• Siemens
• Raytheon
• Axis Communications
• Cross Zlín
• Efkon
• Sensys Networks
• Intercomp
• Image Sensing Systems
• SICK
• LeddarTech
• Transcore
• Roadsys
• Reno A&E

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Weigh in Motion Market?
Ans. The European region is expected to hold the highest share in the Weigh in Motion Market.

2] Who are the top key players in the Weigh in Motion Market?
Ans. Q-Free, International Road Dynamics, Kapsch Trafficcom, Kistler, TE Connectivity, SWARCO, FLIR Systems, and Siemens are the top key players in the Weigh in Motion Market.

3] Which segment is expected to hold the largest market share in the Weigh in Motion Market by 2029?
Ans. Highway Toll segment is expected to hold the largest market share in the Weigh in Motion Market by 2029.

4] What is the market size of the Weigh in Motion Market by 2029?
Ans. The market size of the Weigh in Motion Market is expected to reach US $2,138.11 Mn. by 2029.

5] What was the market size of the Weigh in Motion Market in 2021?
Ans. The market size of the Weigh in Motion Market was worth US $948.09 Mn. in 2021.