A force gauge is a device that measures the force an object exerts. Due to their precise measurement capabilities, they are essential in industries such as manufacturing and research, ensuring product quality and safety. The market is dominated by both digital and analogue force gauges. Display modes and functionalities are the primary determinants of differentiation. As industries become increasingly focused on technology, demand for these instruments has increased. During the period from 2024 to 2032, the market for force gauges is anticipated to grow at a CAGR of 4.0%, propelled by rising demand in the quality control and testing industries.
Modern manufacturing requires accuracy. Quality control and testing have become an integral part of production lines in order to ensure that products satisfy established criteria. Due to their precision, force gauges find extensive use in these procedures. The International Organisation for Standardisation (ISO) and the American Society for Testing and Materials (ASTM) have regulations requiring product testing, thereby increasing market demand. Several industries reported an increase in force gauge utilisation in 2023 in order to comply with these international standards.
With the advancement of technology, force gauges have undergone significant development. Modern digital force instruments include features such as data storage, USB connectivity, and computer integration capabilities. These developments streamline data acquisition and analysis, thereby enhancing the effectiveness of the process. The automotive and aerospace industries, renowned for their stringent testing protocols, have benefited greatly from these characteristics. The crucial role that technology played in moulding the market for force gauges was highlighted by a rise in sales in these industries in the previous year.
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The aerospace and automotive industries have experienced tremendous expansion. As automobiles and aircraft have become more sophisticated, their component testing and quality assurance requirements have increased. Force instruments, which provide accurate measurements, have found widespread use in these industries. In 2023, major automakers expanded their production capacities, which indirectly increased the demand for these precision instruments.
Although digital force gauges offer numerous advantages, their high price may deter potential purchasers, particularly small businesses. Digital variants are typically more expensive than their analogue counterparts, reflecting their multifunctional capabilities. In 2023, numerous businesses expressed concern that their budgets did not align with the prices of the most recent digital force gauge models.
In terms of both revenue and CAGR, the digital force gauge segment has been dominant. The emergence of Industry 4.0, which emphasises automation and data exchange, played a crucial role in this development. With their advanced features, digital gauges met these requirements precisely. In terms of revenue, digital force gauges dominated analogue force gauges in 2023, accounting for a significant market share. In terms of CAGR, however, digital variants are anticipated to continue their ascent between 2024 and 2032 due to their technological advantages and wider industrial adoption.
In 2023, the segment between 2501N and 5000N had the highest revenue in terms of capacity. Due to its adaptability, this range is utilised in a variety of industries. However, gauges with capacities of 1000N are expected to record the highest CAGR from 2024 to 2032, as miniaturisation trends in product design and manufacturing increase the importance of smaller and more precise measurements.
Geographically speaking, the Asia-Pacific region led in terms of revenue in 2023, due to China and India's expansive manufacturing sectors. As a global centre for industries such as electronics, automotive, and aerospace, this region heavily relies on force gauges for quality control. In terms of CAGR, the Middle East and Africa are anticipated to experience substantial growth between 2024 and 2032 as a result of rising industrialization and infrastructure development.
The market for force gauges is highly competitive, with major actors vying for market dominance through innovations and strategic alliances. Given their expansive product portfolios and global reach, 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. dominated the market in terms of revenue in 2023. The overarching strategy observed was a focus on research and development, with the objective of releasing user-friendly, sophisticated models. Collaborations and mergers were also widespread, allowing businesses to expand their geographic reach and clientele. During the period from 2024 to 2032, it is anticipated that these companies will increase their R&D efforts in order to meet evolving industrial demands.
