Material Testing Market Insights, Trends & Growth Outlook 2022-2029

SKU: DM1988 | Last Updated On: Dec 16 2022 | Available Formats

> Global Material Testing Market Expected to reach a high CAGR of 7.8% By 2029 | DataM Intelligence

Global Material Testing Market is segmented By Type (Universal Testing Machines, Servo Hydraulic Testing Machines, Hardness Test Equipment, Others), By Material (Metal, Plastics, Rubber and Elastomer, Ceramics and Composites, Others), By End-Use Industry (Automotive, Construction, Educational Institutions, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Material Testing Market Share, Size, Demand Insights

The Global "Material Testing Market" is projected to grow at a CAGR of 7.8% during the forecast period 2022-2029.

Material testing systems evaluate the mechanical properties of materials and structures using tensile, compression, flexural, fatigue, impact, dynamic, torsional, and multi-axial loading for use in many industries including research and quality control to measure material’s strength and performance.

Material Testing Market Scope and Summary

Metrics

Details

Market CAGR

7.8%

Segments Covered

By Type, By Material, By End-Use Industry, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Material Testing Market Dynamics and Trends

The global material testing market is anticipated to witness significant growth with the range of building constructions, renovation, and refurbishing activities in fast-growing economies such as China, India, and Southeast Asia.

Construct construction in India is in full swing. Some of the projects include the development of the Pallava industrial township worth USD 4.18 billion, the Construction of EWS, LIG, and MIG houses, and the development of infrastructure work under PMAY Package C in Jabalpur worth USD 1.78 billion, the Construction of EWS, LIG, and MIG houses and development of infrastructure work under PMAY package worth USD 1.76 billion are a few projects. 

Therefore, the range of construction activity and scope for new construction projects in the region is set to drive the material testing market.

COVID-19 Impact on Material Testing Market Growth

The COVID-19 pandemic has disrupted the global economy and halted the critical processes of almost all companies. Therefore, even the global material testing market suffered due to it. The disturbances in supply chain management and transportation of goods and services hurt the growth of the market. Many testing units were disrupted due to government-enforced lockdowns and curfews worldwide, which led to losses and wastage of many material testing machines. The pandemic also significantly changed consumer demand and behavior. Consumers refrained from purchasing non-essential products amid the pandemic. The uncertain and unexpected situation caused by the pandemic significantly impacted the market, slowing its growth. However, the post-pandemic scene has improved and the material testing market has recovered. The market is set to grow at a high rate.

Material Testing Market Segmentation and Shares Analysis

Based on type, the material testing market is classified into metal, plastics, rubber and elastomers, ceramics, composites, and others

Metal was the dominant material segment in 2019. Parameters that are tested in the metal material include functionality, measurement, loading capability, water resistance, pressure, tension, strength, bend test, chemical composition, steel strand test, corrosion resistance, and more. Federal law insists manufacturers and importers test many consumer products for compliance with consumer product safety requirements.

Universal testing machines are the majorly used machine for testing metals owing to their ability to perform tensile, compression, and bend tests. In addition, the cheap availability of universal testing machines is a factor contributing to the use of universal testing machines for metal testing.

Metal material testing machines find applications in aerospace, rail, nuclear, automotive, oil and gas, submarine, power generation, fertilizer, fabricators, and foundries.

Based on the end-use industry, the material testing market is classified into automotive, construction, educational institutions, and others

Construction application was the dominant segment in 2019. Different types of materials are used for construction purposes that include aggregates, bricks, bitumen, emulsions, cement, fly ash, concrete, soil, rock, salt-glazed stoneware, pipes and fittings, steel, cement concrete tiles, gypsum building plaster, concrete, and bituminous mix designs, water, sand, paver blocks, admixture, timber & wood, plywood & ply board. Therefore, this broad range of materials needs to be tested for quality and to get specifications. This quality of materials ensures the stability of the structure and specifications are used to get the required amount of material.

The prospects in the construction will likely experience robust growth with a pipeline full of prestigious and major projects that includes A massive infrastructure plan in the USA which is on the way for an announcement in the near term, that includes extensions to federal grants, incentives, and permitting simplification to encourage local programs.

Therefore, the various types of raw materials involved in the building construction industry and the range of construction projects that are in the pipeline will bring in demand for material testing equipment across the globe.

Material Testing Market Geographical Analysis

By region, the global material testing market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa

Asia Pacific region is expected to grow with a high CAGR during the forecast period owing to the strong growth in the end-user industry in this region. Due to the rapid urbanization in the region and this trend is projected to continue in coming years and thereby bring unprecedented demographic, economic, and social shifts. Urban development in the region will have an important positive impact on the aromatic end-user sectors such as the paints and coatings, adhesives, and chemical intermediates sectors.

The construction sector in the region is showcasing high growth worldwide. The construction sector in the Asia Pacific region is projected for healthy growth during the forecast period. For instance, one of the fast-growing economies in the region, India, has witnessed immense demand for commercial space such as office spaces, hotels, retail, and entertainment units. The annual absorption of office space in India crossed 46 million square feet in 2019. Furthermore, new construction activities and housing projects are expected to drive the demand for material testing equipment in the region.

Material Testing Companies and Competitive Analysis

The Material Testing market is a partially consolidated market with the presence of both major and minor players in the market. Some of the major players in the global Material Testing Market include Illinois Tool Works Inc, The Zwick Roell Group, MTS Systems Corporation, Shimadzu Corporation, Tinius Olsen, AMETEK, Inc, ADMET, Inc., Hegewald & Peschke, Applied Test Systems, Mitutoyo America Corporation.

These key players in the market are mainly focusing on new product launches, expansions, mergers & acquisitions to enhance their position in the material testing market. The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for material testing and their expansion across the globe. For example, in June 2018, Shimadzu Corporation acquired Infraserv Vakuumservice GmbH of Germany, thereby strengthening its turbomolecular pump sales and service capabilities in Europe. In April 2021, Amphenol Corporation, a leading global provider of high-technology interconnect, antenna, and sensor solutions, completed the acquisition of MTS Systems Corporation. All these acquisitions have boosted the growth of the material testing market.

Illinois Tool Works Inc.

Overview: Illinois Tool Works Inc. is an American manufacturing company.

Product Portfolio: Illinois Tool Works Inc. produces engineered fasteners and components, equipment, and specialty products.

Key Developments: In January 2021, Illinois Tool Works Inc. and Amphenol Corporation announced that they have entered into an agreement under which ITW will acquire MTS Systems Corporation’s Test & Simulation business, following the closing of Amphenol’s acquisition of MTS.

 

Frequently Asked Questions

What is the Projected CAGR value of the Material Testing Market?

The Material Testing Market is expected to grow at a CAGR of 7.8% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Material Testing Market during 2022-2029

Which is the fastest-growing region in the Material Testing Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

 

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