Material Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Material Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • February 2021 •
  • 143 pages •
  • Report ID: 5981410 •
  • Format: PDF

Market Overview:
The global material testing market reached a value of US$ 5.61 Billion in 2020. Material testing refers to the technique of measuring the physical, structural and mechanical properties of various materials and components. It is used for analyzing the behavior of metals, ceramics and plastics, under different conditions and for assessing if they are in optimal condition. Material testing can be classified as mechanical testing; thermal testing; resistance testing against corrosion, radiation and biological deterioration; and nondestructive testing. These tests are majorly conducted through universal, servo-hydraulic, hardness and impact test machines and are used for production, quality control, research, and laboratory applications. As a result, material testing finds extensive applications across various industries, such as automotive, aerospace & defense, construction, education, energy & power and oil & gas.

Rapid industrialization, along with significant growth in the construction sector, is one of the key factors creating a positive outlook for the market. Raw materials are tested for their mechanical properties to maintain or improve the quality of the products. For instance, in the construction industry, materials, such as adhesives, sealants, concretes, mortar, ceramics, slates, stones and pipes, are tested to check if they have the desired properties. In line with this, the manufacturing of innovative composites across various industries is also contributing to the market growth. Several technological advancements, such as the development of testing equipment with multi-stage testing capabilities and picture-video capture functionalities, are favoring the market growth. Other factors, including increasing product adoption by the medical sector to test material integrity, surface morphology and adhesion capacities, along with extensive research and development (R&D) activities, are anticipated to drive the market further. Looking forward, the analyst expects the global material testing market to reach a value of US$ 6.9 Billion by 2026, exhibiting a CAGR of 3.51% during 2021-2026.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global material testing market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, material and end use industry.

Breakup by Type:
Universal Testing Machines
Servohydraulic Testing Machines
Hardness Testing Machines
Impact Testing Machines
Non-Destructive Testing Machines

Breakup by Material:
Metals and Alloys
Rubber and Elastomers
Ceramics and Composites

Breakup by End Use Industry:
Aerospace and Defense
Oil and Gas
Energy and Power

Breakup by Region:
North America
United States
Asia Pacific
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Admet Inc., Ametek Inc., Applied Test Systems LLC, Illinois Tool Works Inc., Labquip, Mistras Group Inc., Mitutoyo Corporation, MTS Systems Corporation, Shimadzu Corporation, Tinius Olsen Ltd., Wirsam Scientific and ZwickRoell AG.

Key Questions Answered in This Report:
How has the global material testing market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global material testing market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the material?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global material testing market and who are the key players?
What is the degree of competition in the industry?