A force gauge is a device that measures force exerted by an object. These are pivotal in industries like manufacturing, research, and development due to their precise measurement capabilities, ensuring product quality and safety. Two primary types dominate the market: digital and analog force gauges. The differentiation primarily hinges on their display modes and functionalities. As industries grow more tech-centric, the demand for such instruments has surged. Force gauge market is expected to continue at a steady CAGR of 4.0% during the forecast period from 2023 to 2031, driven by increasing demand in quality control and testing sectors.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
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Increasing Demand in Quality Control and Testing Sectors
Modern-day manufacturing demands precision. To ensure the products meet set standards, quality control and testing have become integral to production lines. Force gauges, due to their accuracy, find immense application in these processes. The International Organization for Standardization (ISO) and the American Society for Testing and Materials (ASTM) have regulations that necessitate product testing, bolstering the market demand. In 2022, several industries reported augmented usage of force gauges to adhere to these international norms.Technological Advancements in Force Gauge Designs
With technological evolution, force gauges have seen significant improvements. Modern digital force gauges come with features like data storage, USB connectivity, and integration capabilities with computer systems. These advancements streamline data collection and analysis, making the process efficient. The automotive and aerospace industries, known for their rigorous testing protocols, have particularly benefited from these features. Last year, a surge in sales in these sectors underscored the vital role technology played in shaping the force gauge market.Growth in Aerospace and Automotive Sectors
The aerospace and automotive sectors have seen remarkable growth. With cars and planes becoming more advanced, their component testing and quality assurance requirements have expanded. Force gauges, providing reliable measurements, have found substantial application in these sectors. 2022 marked the year when major automotive companies expanded their production capacities, indirectly driving up the demand for these precision instruments.High Cost of Advanced Digital Force Gauges
Although digital force gauges offer numerous benefits, their elevated costs can deter potential buyers, especially small-scale enterprises. In comparison to their analog counterparts, digital variants are pricier, often reflecting their multifunctional capabilities. Many businesses in 2022 expressed concerns over their budgets not aligning with the costs of the latest digital force gauge models.Digital Force Gauge Dominates the Market by Type
The digital force gauge segment has displayed dominance in terms of revenue and CAGR. The rise of Industry 4.0, emphasizing automation and data exchange, played a pivotal role in this. Digital gauges, with their advanced features, catered precisely to these needs. On the revenue front, in 2022, digital force gauges accounted for a significant market share, overshadowing analog force gauges. However, when focusing on CAGR, digital variants are expected to continue their upward trajectory from 2023 to 2031, owing to their technological advantages and broader industrial acceptance.2501N to 5000N Range Dominates the Market by Capacity
In terms of capacity, the segment ranging from 2501N to 5000N exhibited the highest revenue in 2022. This range finds applications in various industries due to its versatility. However, gauges with a capacity of ≤1000N are anticipated to register the highest CAGR from 2023 to 2031, as smaller and precise measurements are becoming more crucial with miniaturization trends in product design and manufacturing.Asia Pacific Remains as a Global Leader
From a geographic standpoint, the Asia-Pacific region led in terms of revenue in 2022, thanks to the expansive manufacturing base in countries like China and India. This region, being a global hub for industries like electronics, automotive, and aerospace, relies heavily on force gauges for quality control. On the CAGR front, the Middle East and Africa are expected to witness substantial growth from 2023 to 2031 due to rising industrialization and infrastructural development activities.Competitive Trends
Competition in the force gauge market is intense, with major players striving for market dominance through innovations and strategic partnerships. In 2022, companies like Alluris, AMETEK. Inc., Teledyne Flir LLC, Imada Co., Ltd., Mark-10 Corporation, Nidec Drive Technology Corporation, Omega Engineering, Inc., PCE Deutschland GmbH, Hans Schmidt & Co GmbH, Dillion, Aikoh Engineering Co., Ltd., and Morehouse Instrument Company, Inc. led in terms of revenue, given their expansive product portfolios and global presence. The overarching strategy observed was a focus on research and development, aiming to launch advanced, user-friendly models. Collaborations and mergers were also rampant, allowing firms to expand their territorial reach and clientele base. For the forecast period of 2023 to 2031, these players are expected to intensify their R&D endeavors, aiming to cater to evolving industrial demands.Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Force Gauge market are as follows:- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Force Gauge market and their expected impact during the forecast period.
Market Segmentation
Type
- Digital Force Gauge
- Analog (Mechanical) Force Gauge
Capacity
- ≤1000N
- 1001N to 2500N
- 2501N to 5000N
- >5000N
Form Factor
- Rack Mount
- Handheld
- Benchtop
Industry Vertical
- Automotive & Transportation
- Aerospace &Defense
- Healthcare
- Electronics & Semiconductor
- Food & Beverages
- Pharmaceutical
- Oil & Gas
- Sports & Recreation
- Others (research & academia, chemical, energy & utility, etc.)Region Segment (2021 - 2031; US$ Million)
- North America
- U.S.
- Canada
- Rest of North America
- UK and European Union
- UK
- Germany
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- Africa
- Rest of Middle East and Africa
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Force Gauge market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Force Gauge market?
- Which is the largest regional market for Force Gauge market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Force Gauge market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Force Gauge market worldwide?
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Table of Contents
1. Preface
2. Executive Summary
3. Force Gauge Market: Competitive Analysis
4. Force Gauge Market: Macro Analysis & Market Dynamics
5. Force Gauge Market: By Type, 2021-2031, USD (Million)
6. Force Gauge Market: By Capacity, 2021-2031, USD (Million)
7. Force Gauge Market: By Form Factor, 2021-2031, USD (Million)
8. Force Gauge Market: By Industry Vertical, 2021-2031, USD (Million)
9. North America Force Gauge Market, 2021-2031, USD (Million)
10. UK and European Union Force Gauge Market, 2021-2031, USD (Million)
11. Asia Pacific Force Gauge Market, 2021-2031, USD (Million)
12. Latin America Force Gauge Market, 2021-2031, USD (Million)
13. Middle East and Africa Force Gauge Market, 2021-2031, USD (Million)
14. Company Profile
List of Figures
List of Tables
Companies Mentioned
- Alluris
- AMETEK. Inc.
- Teledyne Flir LLC
- Imada Co., Ltd.
- Mark-10 Corporation
- Nidec Drive Technology Corporation
- Omega Engineering, Inc.
- PCE Deutschland GmbH
- Hans Schmidt & Co GmbH
- Dillion
- Aikoh Engineering Co., Ltd.
- Morehouse Instrument Company, Inc.