Material Testing Market Size & Analysis - Forecasts To 2025 By Equipment (Universal Testing Machine (UTM), Servo Hydraulic Testing Machine (SHTM), Hardness Testing Machine (HTM), Impact Testing Machine (ITM, Others), By Application (Automotive, Aerospace & Defense, Construction, Medical, Manufacturing, Others), By Region (North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa), End-use Landscape, Vendor Landscape and Market Share &and Competitive Landscape - Global Market Estimates
Material Testing Market Insights
The demand for materials testing services and equipment is projected to experience tremendous growth over the coming years. The growing construction and automotive sector is expected to positively influence demand over the coming years. The need for efficient and advanced packaging solutions in the food & beverage and manufacturing sector is also projected to augment market growth.
Material Testing Market: Equipment Insights
On the basis of technology, the material testing market is segmented into Universal Testing Machine (UTM), Servo Hydraulic Testing Machine (SHTM), Hardness Testing Machine (HTM), Impact Testing Machine (ITM, Others. UTM occupied the largest market share in 2016 and is also projected to grow at a high CAGR over the forecast period.
Material Testing Market: Application Insights
On the basis of application, the material testing market is segmented into automotive, aerospace & defense, construction, medical, manufacturing, and others. The demand for material testing in the automotive and aerospace & defense segment is projected to grow at a high CAGR over the forecast period on account of new development and testing of various body parts and components.
Increasing demand for material testing is also observed in the construction and medical sector. High government investments in the developing advanced healthcare equipment and instruments are anticipated to augment market growth over the coming years.
Material Testing Market: Regional Insights
The demand for material testing is expected to occupy the largest share by 2025, and is projected to grow at the highest CAGR over the coming years. The developing economic situations in many countries of the Asia Pacific are expected to positively influence the demand for material testing equipments. Countries such as India, China, Japan, South Africa, Malaysia, Indonesia, and Thailand are expected to invest heavily in infrastructure development, automotives, aerospace & defense, and other manufacturing industries.
Technological advancements and research & development initiatives taken up in the North American and European market are anticipated to boost market growth over the coming years. North America, Europe, and Asia Pacific are expected to experience heavy demand for material testing in pipeline construction, automotive, and aerospace & defense among others.
Material Testing Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Material Testing Market: End-Use Landscape
The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic and inorganic growth strategies among others. Some of the companies who are likely to use material testing include General Motors, Volkswagen Group, and Toyota among others.
Material Testing Market Share & Competitor Analysis
Prominent players in the material testing market include MTS Systems Corporation, Intertek Group PLC, Instron, Lloyd Instruments, Element Materials Technology Group, Atlas MTS, TCR Engineering Services, Tensiletest, Benztesters, Applied Test Systems Inc., Illinois Tool Works, ElectroForce Systems, and Zwick Roell among others.
Please note: This is not an exhaustive list of companies profiled in the report.
The material testing market is projected to experience heavy competition over the coming years. In April 2017, Element Materials Technology Group acquired Exova a company that provides laboratory-based testing services in pharmaceutical, construction, aerospace, and engineering sector.
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The global Material Testing Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Material Testing Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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