Global Material Testing Market is expected to rise from its initial estimated value of USD 668.04 million in 2018 to an estimated value of USD 960.99 million by 2026, registering a CAGR of 4.65% in the forecast period of 2019-2026. Increasing demand of material testing from various end user industries is driving the growth of this market.
Key Market Competitors: Global Material Testing Market
Few of the major competitors currently working in material testing market are Illinois Tool Works Inc, Zwick Roell Group, Shimadzu Corporation, Tinius Olsen, ADMET, Inc., Hegewald & Peschke Meß- und Prüftechnik GmbH, Applied Test Systems, Mitutoyo America Corporation., TA Instruments, Torontech Inc., Qualitest International Inc, ETS Intarlaken Technologies, Struers, MTS Systems Corporation.
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Material testing is usually done to identify the physical and mechanical properties of the different materials and components. Compression, tensile strength, peel strength, shear strength, bond strength, flexure etc. are usually tested in this material testing. These testing are very useful as it help in the production, quality control, R&D. These days, material testing is widely used in many industries like construction, automotive, aerospace, defence etc.
Competitive Analysis: Global Material Testing Market
Global material testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of material testing market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global Material Testing Market
- By Type (Universal Testing Machines, Servohydraulic Testing Machines, Hardness Testing Equipment, Impact Testing Equipment)
- By Materials (Metal, Plastics, Rubber and Elastomer, Ceramics and Composites, Others)
- By End- User (Automotive, Construction, Educational Institutions, Aerospace & Defense, Medical Devices, Power, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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Market Drivers:
- Increasing demand of material testing from aerospace industry is driving the growth of this market.
- Increasing preference for manufacturing quality products is driving the market.
Market Restraint:
- Destruction of resources during the testing is restraining the growth of this market.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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