Global Material Testing Market Size, Share, and Analysis, By Type (Universal Testing Machines, Servo hydraulic Testing Machines, Hardness Test Equipment and Others), By Material (Metal, Plastics, Rubber and Elastomer, Ceramics and Composites and Others), By End-Use Industry (Automotive, Construction, Educational Institutions and Others), and Regional Forecasts, 2022-2032
The Global Material Testing market size was USD 724.1 million in 2021 and projected to grow from USD 800.6 million in 2023 to USD 1,267.9 million by 2032, exhibiting a CAGR of 5.2% during the forecast period.
Material Testing denotes the technique of examining the physical, structural and mechanical properties of various materials. Material Testing is used to analyze the properties and behavior of ceramics, metals, and plastic, under different conditions and to assessing their functioning at optimal condition. Material testing can be classified based on type, material, and end use into thermal testing, mechanical testing; resistance testing and non-destructive testing. These are majorly conducted through, servo-hydraulic, hardness and impact test machines. They are utilized for QC, research, production and in laboratory applications. Material Testing has several applications in various industries, like automotive, construction, energy & power, aerospace & defense, oil & gas etc.
Global Material Testing Market is expected to project a CAGR of 5.2% during the forecast period, 2022-2032
Material Testing Market is expected to reach USD 1,267.9 million at a CAGR of 5.2% during forecast period. Material testing is a process used to measure the physical, mechanical and structural, properties of various components and materials in a well-established manner. In various sectors like manufacturing & processing, educational & research institutes, content testing will be carried out owing to the raise of market.
Universal Testing Machines segment is expected to grow with high CAGR during the forecast period
Global Material Testing Market is classified based on the Type into Universal Testing Machines, Servo hydraulic Testing Machines, Hardness Test Equipment and Others. Universal Testing Machines segment is expected to grow at a considerable rate in market during the forecast period. The universal testing machine availability is easy and cheap and has several uses in various industries to perform different tests which are driving growth of this segment. Universal testing machines are used widely due to the ability to perform tests like compression, bent and tensile for several materials adding to the dominance in the global market.
Educational institutions segment is expected to grow with high CAGR during the forecast period
Global Material Testing Market is classified based on the End-Use Industry into Automotive, Construction, Educational Institutions and Others. Educational Institutions segment is expected to grow at a considerable rate in market during the forecast period owing to the research activities which are government funded for research scholars in various educational institutions like schools and universities for their higher development pertaining to good quality materials and the efficiency of machines at a less price.
Increasing Research is Expected to Boost the Growth of the Market
Several new technological innovations in various industries like electrical vehicles, hybrid-electric vehicles, fuel-cell and integration of AI and IoT need several testing procedures to qualify the product along with the material used for ensuring better consumers safety. The automotive industry is driving the growth of Global Material Testing Market.
Wide Applications in Various Industries is Expected to Boost the Market Growth
All the products before entering into the market, to reach the customers are to be qualified after undergoing several testing procedures, the material used for manufacturing of the medical equipment and devices require many analyses before sale in the market. So, due to the increase in production of medical equipment healthcare sector is aiding market growth. The customers interest towards modern building and constructions is further fuelling the demand for testing the quality and other properties of the technology. Related to material used in the construction. Therefore, demand for material testing is attributed with growth in the material testing market.
Technical Advancements May Hamper Market Growth
As the technology is emerging, the deployment of these technologies with the trend is necessary. The material testing software needs same advancements as of the emerging techniques to facilities the growth of the market. The material testing software should be developed by manufacturing vendors as it should be able to work along with the other enterprise level software for better operational efficiency and improved decision making, or it leads to the restraining of market.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Material Testing Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America and Europe accounted for a significant share of the market share in 2021. The Asia Pacific is estimated to leading region of the material testing industry in the forecast period owing to industrialization, expansion of construction and manufacturing businesses in the region.
Covid-19 had unexpected effects on economies across the globe. The global outbreak led to the decline in the growth of several sectors and closing of many industries. The Material Testing Market was one of the most affected sectors in the world, as all the activities related to production and testing of equipment and material were stopped with the imposition of lockdown and travel bans across the globe. There was a huge disruption in the market and COVID-19 pandemic had a negative impact on the growth of Global Material Testing Market.
Market size value in 2021
USD 724.1 million
Revenue forecast in 2032
USD 1,267.9 million
CAGR of 5.2% from 2022 to 2032
Base year for estimation
Revenue in USD million and CAGR from 2022 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, Material, End Use Industry, and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
ZwickRoell LP, MTS Systems Corporation, Shimadzu Corporation, Tinius Olsen, ADMET Inc, Qualitest Group, Struers, Hegewald & Peschke, OLYMPUS CORPORATION, AMETEK.Inc, Foundrax, Wirsam Scientific, Applied Test Systems, Mitutoyo Corporation, TA Instruments, Torontech Inc, Imatek, MISTRAS Group Inc and Other Prominent Players
Global Material Testing market size was estimated at USD 724.1 million in 2021 and is expected to reach USD 1,267.9 million in 2032.
Material Testing denotes the technique of examining the physical, structural and mechanical properties of various materials. Material Testing is used to analyze the properties and behavior of ceramics, metals, and plastic, under different conditions and to assessing their functioning at optimal condition.
Universal Testing Machines, and Educational institutions segment accounted for the largest Global Material Testing market share.
Ans. Key players: ZwickRoell LP, MTS Systems Corporation, Shimadzu Corporation, Tinius Olsen, ADMET Inc, Qualitest Group, Struers, Hegewald & Peschke, OLYMPUS CORPORATION, AMETEK.Inc, Foundrax, Wirsam Scientific, Applied Test Systems, Mitutoyo Corporation, TA Instruments, Torontech Inc, Imatek, MISTRAS Group Inc and Other Prominent Players are the key players in the Global Material Testing market.
Increasing Research and Wide applications in various industries are the factors driving the Global Material Testing market.
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