About Mechanical Test Equipment
Mechanical testing equipment helps in divulging the elastic and inelastic behavior of a material when an external force is applied. A mechanical test equipment measures the elasticity, tensile strength, hardness, elongation, impact resistance, stress rupture, fatigue limit, and fracture toughness of a material to determine if it is suitable for the intended application. The increase in demand for safe and higher quality goods by major end-users has ensured the deployment of mechanical testing equipment in manufacturing industries.
Technavio’s analysts forecast the global mechanical test equipment market to grow at a CAGR of 5.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global mechanical test equipment market for 2017-2021. To calculate the market size, the report considers the demand for mechanical test equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mechanical Test Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global mechanical test equipment market: Applied Test Systems, Illinois Tool Works, MTS Systems, Shimadzu, and Zwick Roell.
Other Prominent Vendors in the market are: AMETEK, Buehler, Emerson, Hegewald & Peschke, Hung Ta Instrument, Shanghai Hualong Test Instruments, TA Instruments, Tinius Olsen, and Torontech.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is testing of food and packaging. The adoption of material testing equipment is growing significantly in the food and packaging industry. Different types of materials, such as plastic, glass, paperboard, and aluminum canning, are used for packaging food, such as meat, seafood, fruits, vegetables, cheese, milk, snacks, confectioneries, and condiments.”
According to the report, one driver in the market is growing power plant projects. NDT services are used in power plants for industrial equipment and engineered structures to develop strategic plans for extending the life of the plants. Tests, such as equipment integrity analysis, corrosion monitoring of structures and equipment, fatigue and creep damage predictions, and corrosion damage evaluation, are performed to determine the life of the plant. Major power plant projects across the world are expected to drive the demand for mechanical test equipment.
Further, the report states that one challenge in the market is high cost of test equipment. Technological advances have encouraged companies to invest in R&D to offer innovative products for consumers as well as maintain their competitiveness in the market. Mechanical test equipment manufacturers are highly dependent on raw materials for manufacturing the end-product. Fluctuations in prices of raw materials and import duty taxes imposed by governments across the world have increased the production cost for manufacturing mechanical test equipment.
Applied Test Systems, Illinois Tool Works, MTS Systems, Shimadzu, Zwick Roell, AMETEK, Buehler, Emerson, Hegewald & Peschke, Hung Ta Instrument, Shanghai Hualong Test Instruments, TA Instruments, Tinius Olsen, and Torontech.
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