Weigh-In-Motion System Market Size Worth USD 2054.43 Million By 2030 | CAGR of 9.14%

Introduction

The weigh-in-motion system is a system containing software and hardware devices that are used for the measurement and recording of the weight of moving vehicles. Weigh-in-motion systems are capable of measuring vehicles traveling at a reduced or normal traffic speed and do not require the vehicle to come to a stop. This makes the weighing process more efficient and, in the case of commercial vehicles, allows for trucks under the weight limit to bypass static scales or inspection.

Market Dynamics

Government Initiatives, Traffic Issues, and Pocket-Friendly Option Surging Market

The majority of the cities on a global scale are leaning toward the excessive adoption of intelligent mobility solutions, which is a primary driving force motivating various governing bodies to take initiatives toward intelligent transportation systems. For instance, The Roads and Transport Authority (RTA) of Dubai has proclaimed another brilliant transport system from 2017–2021 recently, which intends to make 25% of the city's excursions via autonomous vehicles by 2030. The demand for weight-in-motion systems in intelligent transportation is increasing owing to their application in smart transportation.

The rising traffic issue has mostly affected the operation of the toll plaza since it increases the time of processing vehicles with such massive traffic. Weigh-in-motion (WIM) allows the control of vehicle loads without interruption of traffic. The weigh-in system contributes to primary savings by traffic monitoring and controlling the number of overloaded vehicles on the road. To cater to these problems of heavy vehicles without interrupting the road traffic, demand for weigh-in-motion is increasing.

The fundamental piece of the static weight evaluation system is an indicator that is furnished with other analytic capacities, notwithstanding the weight display. These static weigh scales require a computer-aided system with appropriate software to execute the weighing process. Further, other equipment like cameras, barriers, and traffic lights are also needed to operate it in unattended mode. This collectively tends to increase the cost of a static weighing scale as compared to a weigh-in-motion. In addition, the maintenance cost for the static weight scale is also higher as this system needs to be protected from corrosion and dirt. These costs add up and make a static weight scale more expensive than a weigh-in-motion.

Impact of COVID-19

A large number of corporates announced layoffs and put their operation in various countries. Production line terminations, store network interruption, and decreasing interest have caused significant damage. Transportation incomes dropped essentially, transport laborers' wages were deducted, other vehicle laborers were laid off, and some vehicle organizations shut because of the outbreak. Such a massive downfall in the transportation industry around the world has severely impacted the weigh-in-motion system market.

Regional Analysis

Europe will hold the largest market share during the forecast period due to increasing demand for weigh-in-motion systems for Government initiatives in traffic and road maintenance. The Europe weigh-in-motion system market was valued at USD 340 million in 2021 and is expected to value at 623 million by 2030 at a CAGR of 7%. North America will account for the second-largest market share and was valued at 270 million in 2021, owing to the demand for various smart city projects.

Asia-Pacific will witness steady growth, with China occupying the majority of market value. Immense urbanization and robustly growing economies will boost the market share. Central & South America and The Caribbean and Middle East & Africa will account for competitively lower growth, with South Africa registering a significant growth rate owing to the developing economy.

Key Highlights

• The global weigh-in-motion system market was valued at USD 935.05 million in 2021 and is anticipated to generate 2054.43 million by 2030. The market is projected to grow at a CAGR of 9.14% during the forecast period (2021–2030).
• Based on the types of vehicle speed, low speed weigh-in-motion system is the major share holder in the global weigh-in-motion system market. The global market for low speed weigh-in-motion system is projected to generate USD 1273.21 million in 2030 and grow at a CAGR of 8.51% by 2030.
• Based on the types; weigh-in-motion systems are segmented as weigh bridge system, inroad system and onboard system. Weigh bridge is the highest market share holder and is projected to generate USD 1046.85 million in 2030 and grow at a CAGR of 9.00% by 2030.
• In end-use industry segment, highway toll has the major market share. The global market for this segment is anticipated to generate USD 1188.03 million in 2030 and grow at a CAGR of 9.00% during the forecast period.
• Software and Services is the largest market contributor in component segment. This category is projected to generate USD 1200.66 million in 2030 and grow at a CAGR of 8.53% by 2030.
• By sensor type, piezoelectric sensor has the major share which market is anticipated to generate USD 896.39 million in 2030 and grow at a CAGR of 8.55% by forecast period.
• Geographically, the market is divided into North America, Europe, Asia-Pacific, Central & South America and The Caribbean, and the Middle East and Africa. Europe is anticipated to hold the largest market share of USD 623.21 million by 2030 at a CAGR 6.96% during the forecast period.

Competitive Players

Competitive Players in Global Market

• Kapsch TrafficCom AG
• Q-free
• Mettler Toledo
• Avery Weigh-Tronix
• TE Connectivity
• International Road Dynamics
• Kistler
• Cross zlin
• Ashbee
• Eessae Digitronic
• Camea
• Intercomp
• Roadsys Inc
• SWARCO AG

Recent Developments

Market News

• In May 2021, Kistler started to offer low outgassing cables for their titanium housing piezoelectric accelerometers used for space testing.
• In April 2021, Q-Free extended Georgia DOT contracts for state-wide traffic signal management software to include Kinetic Signals upgrade.
• In April 2021, SWARCO AG launched MyCity 1.0 the new urban mobility management software for smarter, greener cities.
• In March 2021, The Norwegian Public Road Administration assigned Kapsch TrafficCom to deliver a new Multi-Lane Free-Flow (MLFF) tolling system at Ryfast, Norway.
• In March 2021, the New York Department of Transportation had awarded five-year maintenance & upgrade contract to International Road Dynamics valued at up to $13 million.
• In February 2021, Intercomp WIM sensors were selected as preferred sensors & installed within High speed Weigh-In-Motion systems in Ukraine for commercial vehicle weight enforcement scales.

Segmentation

Global Weigh-In-Motion System Market- Segmentation

By Vehicle Speed

• Low-Speed
• High-Speed

By Type

• Weigh Bridge System
• In-Road System
• Onboard System

By End-Use Industry

• Highway Toll
• Logistics
• Oil & Refinery
• Others

By Component

• Software & Services
• Hardware

By Sensor Type

• Piezoelctric Sensor
• Bending Sensor
• Inductive Loop
• Infrared Sensor
• Others

 By Function

• Weight-Based Toll Collection
• Weight Enforcement
• Traffic Data
• Vehicle Profiling
• Axle Counting

By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Central, South America, and the Caribbean