Global Material Testing Equipment Market 2016-2020
About Material Testing Equipment
Material testing covers a wide range of application and materials that include metals, concrete, composites, and ceramics. Material testing is primarily used to determine the physical properties of materials such as tensile strength, torsion, and elasticity. This process can be carried out through four types of equipment: hardness testing machines (HTMs), impact testing machines (ITMs), servo hydraulic testing machines (SHTMs), and universal testing machines. Each equipment serves a different purpose and involves testing materials for specific physical properties.
End-users of material testing equipment include construction, automobile, and aerospace industries, and heavy industry equipment such as mining excavators. The market for these end-users, especially construction and aerospace, is promising as the governments of developing economies such as India and Brazil are encouraging FDI for infrastructure development. Though the ongoing slowdown in the Chinese economy will affect the market in the latter half of the forecast period, it is likely to revive from the crisis and register a stable growth.
Technavio’s analysts forecast the global material testing equipment market to grow at a CAGR of 3.84% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global material testing equipment market for 2016-2020. The market size is calculated based on the demand for material testing equipment from end-users such as construction, aerospace and automotive industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Material Testing Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Material Testing Equipment Market: Applied Test Systems, ElectroForce Systems, Illinois Tool Works, MTS Systems, and Zwick Roell
Other Prominent Vendors in the market are: Fine Group, LABQUIP, Shimadzu, Tinius Olsen, UTEST Material Test Equipment, and Wirsam Sc ientific.
Commenting on the report, an analyst from Technavio’s team said: “The use of material testing equipment is growing in the food packaging industry. This industry uses various materials such as plastic, glass, paperboard, and aluminum canning for packaging foods such as snacks, confectioneries, meat and seafood, fruits, cheese, vegetables, and condiments. The requirements of the food processing industry include longer shelf life for food products that can be achieved through improvement in the quality of packaging.”
According to the report, the global automobile industry is experiencing increased growth as there is high demand for superior-quality accessories and other auto parts. The companies are recognizing this demand and focusing on providing safe and reliable auto products. To cater to this demand, vendors should ensure use of high-quality raw materials, which are subsequently determined by material testing equipment.
Further, the report states that the total cost of installation of material testing equipment is high, thus posing a challenge to market growth.
Applied Test Systems, ElectroForce Systems, Illinois Tool Works, MTS Systems, Zwick Roell, Fine Group, LABQUIP, Shimadzu, Tinius Olsen, UTEST Material Test Equipment, Wirsam Sc ientific.
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