Automotive Weigh in Motion Market Size

Automotive Weigh in Motion Market Size

Automotive Weigh in Motion Market size surpassed USD 2.3 billion in 2019 and is expected to grow at a CAGR of over 7.2% between 2020 and 2026. Exceptional benefits offered by WIM systems over other conventional vehicle weighing and monitoring alternatives will augment the market growth.

Subject to adoption as well as installation of smart transportation systems across various cities throughout the globe, the automotive weigh in motion market is anticipated to achieve momentum in the coming years. China has made various headways in enhancing growth of overall transportation industry. For instance, the country has announced investment of over USD 30 billion in intelligent transport system by the end of year 2020. The aim of the project is to encourage green transport systems as well as to develop electronic transportation systems across China.

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In a longer prospective, the market is expected to witness high demand across the globe. However, looking at short term scenario, amid COVID 19 impact, WIM systems demand will be on a lower side in the year 2020. As many nations are going through a nationwide lockdown, transportation industry is facing a setback, which is negatively impacting the market demand. Trucks transportation is on a higher side due to increase in goods shipment, but commercial vehicle transportation is going through rough times.