Material testing machines are crucial contributors owing to their cost-effectiveness and extensive usage in industries such as construction, educational institution, and automotive globally. Increasing population, growing economies, and upgrading the standard of living are propelling the growth of the — material testing market share. The analyst of IndustryARC has valued the global material testing market size was at $700 million as of 2018 while projecting the opportunities to grow at a compound annual growth rate (CAGR) of 4% during the forecast period of 2019 to 2025.
The IndustryARC research report is titled “Material Testing Market- Industry Analysis, Market Size, Market Share, Trends, Application Analysis, Growth and Forecast (2019 – 2025)”. The report documents that the smart city concept and surge in the infrastructural development will contribute to the market growth in the developing countries. The report covers Material Testing Market Size by Product and applications, Material Testing Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Global Material Testing Market: Demand Analysis and Growth Forecast
Universal machine testing is also known as a material testing machine or material testing equipment. They are used to test the tensile strength and compression nature of the materials. However, it is used since they can perform many tests pertaining to tensile strength and compression, and now it is a well-established technique. It can enable the selection of the right material for the right application and provide an effective solution to industries such as automotive, manufacturing, construction, aerospace, and defense.
Global Material Testing Market: Leading Segments
APAC holds the dominant position in the globe in the material testing market in terms of regional demand. The increasing demand by the consumers, investment by potential investors and companies, and the stringent regulations by the government have created a huge market for the material testing market in APAC. APAC had dominated the global market with a regional share of 25% in 2018 as per the findings by the IndustryARC’s analysts. This is attributed to the industrialization and expansion of manufacturing plants as well as ongoing construction of buildings.
The key application segment of the global materials testing market is the educational institutions owing to the research and development activities carried out as cited in the report. The opportunities for the growth in this application is projected to observe a healthy CAGR of 5.00% during the forecast period of 2019 to 2025.
Global Material Testing Market: Market Trends and Growth Drivers
Material testing is the real-time display of material measurement data meters such as position and load. These are easily controllable and are used for specific test configurations from one or more power meters.
Material testing market is driven due to more simplified operations that only display whatever the operator wants to see. It is also used to strengthen plastic components. These techniques enhance faster measurement setups.
The advanced material testing machine which is propelling the material testing market is helping in the post-test analysis that allows different or new calculations and data plots.
The most commonly used technique in the material testing market is the usage of the camera in material testing machines. The camera body is designed to exploit heat-pipe technology that provides a thermally stable and low-noise image. It also permits the high-speed transfer of image data from a camera with security.
The technological advancement has reached greater heights, and it has created growth prospects in the material testing market. Now, automation testing is considered as the most flexible approach due to the Internet of Things (IoT).
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Global Material Testing Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global material testing market are Instron, ZwickRoell, MTS Systems, Shimadzu, TA Instruments, Torontech, Qualitest International, ETS Intarlaken, Struers, Humboldmfg, and EIE Instruments.
A. Material Analysis & Testing Equipment Market
B. Nano-Mechanical Testing Market
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