The weigh-in-motion system market is projected to reach USD 1.8 billion by 2027 from USD 1.1 billion in 2022, at a CAGR of 10.0% during the forecast period. Increasing government initiatives toward intelligent transportation systems and increasing public-private partnerships (PPPs) are boosting the growth of the weigh-in-motion system market.
Avery Weigh-Tronix (US), Mettler Toledo (US), Kistler Instruments AG (Switzerland), International Road Dynamics Inc. (Canada), and Q-Free ASA (Norway). These companies adopted strategies, such as new product developments, deals, and others, to gain traction in the weigh-in-motion market.
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Avery Weigh-Tronix is a subsidiary of Illinois Tool Works and a key player in the ITS and WIM markets worldwide. After its acquisition in 2008, the company expanded its geographical and customer access, enabling it to serve a larger market in the Middle East, Africa, and Asia. The merger with a conglomerate specializing in automotive and related sensors and other hardware technologies was a major upgrade for Avery Weigh-Tronix. The lesser dependence on external sources and robust intracompany supply chain enables the company to be least vulnerable to associated risks and lessens its order backlog, enabling it to rapidly expand in the newly accessed geographies and customers from Illinois Tool Works.
Mettler Toledo has focused expertise on the core competency of the products, i.e., weighing. The brand is established in over 40 countries worldwide and is a go-to for industrial weighing applications. The company has innovated around data centralization and data management and processing capabilities, enabling it to standardize its operations at multiple geographies with ideal data monitoring using the Blue Ocean program. This enables the company to monitor and optimize its operations and supply chain, increasing its percentage EBITDA to Revenue during the forecast period
Kistler Instruments AG has fifty eight locations and provides a range of instruments for use in car technology, plastic processing, metal machining, assembly, testing technology, and engine development and monitoring. The company also provides several additional products for use in applications, such as sensors technology, industrial process control, and automotive research and testing. As of 2022, the company earned USD 112 million in sales while investing USD 32.8 million in research and development. The Swiss METAS institute for metrology granted the OIML certificate to the Kistler KiTraffic Digital Weigh-In Motion system in March 2022. The company was granted a total of 973 patents in the year 2021 around the weigh-in motion systems, which is one of the highest number of patents granted in this technology
Weigh-In-Motion System Market by Weighing Technology (Bending Plate, Piezoelectric Sensor), End-use Industry, Component (Hardware, Software), Application, Installation Method, Vehicle Speed (Low, High), Sensors and Region - Global Forecast to 2027
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