Rubber Testing Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The rubber testing equipment market was valued at USD 12.40 billion in 2020 and is expected to reach USD 16.09 billion by 2026, at a CAGR of 5% over the forecast period 2021 - 2026. The rubber demand is positively influenced by the constant efforts directed toward strengthening global economies, industrialization, and rapid urbanization. The intensifying construction activities, on account of industrialization and urbanization, combined with the steady rise in the production of automobiles, is expected to primarily contribute to the growth of the rubber testing equipment market.
Key HighlightsThe rubber testing equipment market consists of a few major players. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and profitability.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook