Material Testing Market Growth, Market Insights and Forecast to 2025

Posted by rekha on December 10th, 2019

The Material Testing Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over seven years forecast period 2019-due to increasing requirement related to manufacturing standards for all fields and increasing educational research activities across the globe.”

Precision Business Insights (PBI) in its report titled “Material Testing Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

 The material testing market was valued at US$ XX Mn in 2018 and growing at a significant CAGR over the forecast period owing to increasing requirement related to manufacturing standards for all fields and increasing educational research activities. Moreover, increasing adoption of material testing by using different materials such as alloys, polymers, rubber, metals and using different types of raw materials and testing their mechanical strength to improve and maintain the quality are adding in the growth of this industry market.

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Construction and Aerospace field accounted for higher revenue share

Based on End users, material testing market segmented into aerospace & defense, automotive, educational institution, construction areas and others.  Construction field market accounted for larger revenue share in 2018 and projected to dominate over the forecast period due to Increase in technological advancement in material science is the drive the growth of this industry market over forecast period. Development of smart cities, fast urbanization and progress in infrastructural developments in emerging economies are some of the factors for growth of this industry market.

North America leads the Material Testing Market

PBI’s material testing market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America has expected to dominate the revenue share due to advanced equipment availability and growing R&D sector of material science. Other regions are also contributing for grow the market of material testing industry such as Asia pacific, Europe, and Latin America etc. Asia Pacific is the largest and fastest-growing market, due to the growing industrialization and rising educational research activities in this region.

Advancement in Material Sciences and strategic collaborations are the key strategies adopted by market players

Material testing market further reveals that the key player’s increasingly adopting strategies such as advancement in material testing sector and strategic collaborations by the market players to enhance market revenue share and gaining significant geographic presence across the region. For example, on August 2019, MTS appointed new distributors in Thailand, Central America and Eastern Europe and on November 2019, MTS Expands Presence in Wind Energy and Aerospace Markets through acquisition of Danish engineering firm

On November 25, 2019, Moog and Danfoss has announced servo press drive system collaboration at SPS

Key player’s profiles in the report are MTS Systems Corporation, Olympus Corporation, Mistras Group, Inc., Shimadzu Corporation, Zwick Roell, Shimadzu, Tinius Olsen, Moog Inc., Ametek Inc., CMT Equipments, Applied Test Systems, Denison Mayes Group

Detailed Segmentation

By Test Type

  • Adhesion Testing
  • Bending / Flexural Testing
  • Coefficient of Friction Testing
  • Compression Testing  
  • Others

By Equipment

  • Universal Testing Machines
  • Servo Hydraulic Testing Machines
  • Hardness Testing Machines
  • Impact Testing Machines
  • Others

By Material

  • Alloys
  • Polymers
  • Rubber
  • Metals
  • Others

By End Users Industry

  • Building or Aircraft Construction
  • Machinery
  • Packaging 
  • Others

By Region

  • North America
  • US
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia & New Zealand
  • Rest of Asia-Pacific
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
  • Middle East and Africa (MEA)
  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

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Joined: July 26th, 2019
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