Material Testing Market To Reach USD 928.8 Million By 2027 | CAGR 4.1% – Forencis Research

Material Testing Market- Global Industry Analysis and Forecast 2020 to 2027

Global Material Testing Market: Key Highlights

  • According to the new market research report Material Testing Market by by Type (Universal Testing Machines, Servohydraulic Testing Machines, Hardness Testing Equipment, Impact Testing Equipment), by Material (Metals, Plastics, Rubber, Elastomer, Composites, Others), by End-use (Automotive, Construction, Aerospace & Defense, Educational Institutions, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global material testing market is estimated to reach USD 928.8 Million by 2027 at a CAGR of around 4.1% during the review period.
  • A highly established technique employed to analyze the structural, physical, and mechanical features of different kinds of materials & composites is known as material testing
  • Some of the benefits offered by material testing are the reduction of repetitive work, greater consistency & repeatability, objective assessment, and ease of access to information about test& testing
  • Advanced hybrid lightweight materials are increasingly being developed for application in a wide range of industries

Material Testing MarketGlobal Material Testing Market: Key Market Dynamics

  • Growing importance of manufacturing quality products coupled with various advantages has expected to drive the growth of the material testing market during the forecasted period
  • Economic benefits offered associated with ASTM Standards has anticipated to drive the material testing market growth
  • Wastage of material resources during material testing is expected to hamper the growth of the market during the forecasted period

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Global Material Testing Market: Regional Overview

  • North America

North America is anticipated to have substantial growth in the material testing market during the forecasted period owing to the presence of a large aircraft manufacturing industry. According to Aerospace Industries Association (AIA), in 2018, the U.S. Aerospace & Defense industry generated USD 929.5 billion in sales revenue and generated USD 151 billion worth export in 2018. Thus, growing aerospace & defense activities in the region have expected to surge the demand for material testing during the forecasted period.

  • Asia-Pacific

The Asia-Pacific is anticipated to dominate the growth in the material testing market during the forecasted period. This is attributed to growing industrialization and expansion of construction & manufacturing expansion in emerging economies such as India, and China. Additionally, the key players in the automotive industry are shifting their manufacturing base in the region owing to the easy availability of raw materials, skilled labor, and availability of resources. With increasing in the expansion of end-use industries in the region has expected to drive the material testing market during the forecasted period.

Global Material Testing Market: Key Players Overview

  • Instron:

Instron is one of the leading company in the material testing industry. The company operates through three business segments namely; testing system, accessories, and software. Instron has a strong sales network in over 24 countries and more than 150 sales representatives across North America, Europe, and Asia-Pacific. The company has 9 manufacturing facilities and has installed over 100,00 machines under the brand name “Instron” across the globe. The material testing solutions provided by Instron are in accordance with international standards such as ASTM, ISO, and EN.  

  • UL LLC:

UL LLC is engaged in providing expertise, insights, and services necessary to solve critical business challenges. The company offers testing, inspection, auditing, certification, marketing claim verification, training, advisory services and software solutions. In August 2020, UL LLC launched Bureau of India Standards (BIS) recognized testing services for domestic and foreign toy manufacturers in India as per the Indian Standards (IS). This will help manufacturers to meet quality and safety norms in compliance with the Quality Control Order of DPIIT.

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Rep Id : CM 0160

Published : 2020-09-10

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