According to the latest report by IMARC Group, titled, “Material Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The global material testing market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.
Material testing is used to determine the characteristics and behavior of a sample, such as metals, alloys, ceramics and composites, plastics, and elastomers. It includes the evaluation of thermal and electrical properties and resistance to corrosion, radiation, and biological deterioration of the sample. It helps in understanding whether a material is suitable for a certain application and meeting the requirements of regulatory agencies. At present, it is employed in numerous industries, such as automotive, construction, education, aerospace and defense, oil and gas, and energy and power.
Material Testing Market Trends:
The growing global population and the consequently increasing construction activities represent one of the key factors catalyzing the demand for material testing across the globe. In addition, the flourishing aerospace industry and rising demand for non-destructive testing (NDT) in designing, manufacturing, and maintenance of aircraft are fueling the market growth. Apart from this, the increasing adoption of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to improve testing and certification services is bolstering the market growth. Additionally, governments of various countries are imposing stringent regulations on product quality to ensure human and environmental safety, which is creating a positive market outlook. Furthermore, the growing applications of material testing in various research applications, such as polymer analysis, consumer goods and packaging, nanomaterial characterization, and mining, are driving the market worldwide.
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Global Material Testing Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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
- ZwickRoell AG.
The report has segmented the market on the basis 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
- Plastics
- Rubber and Elastomers
- Ceramics and Composites
- Others
Breakup by End Use Industry:
- Automotive
- Construction
- Education
- Aerospace and Defense
- Oil and Gas
- Energy and Power
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil,Mexico, Others)
- Middle East and Africa
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