Material Testing Market is expected to witness a CAGR of more than 4.4% between 2017 and 2022


Posted March 19, 2019 by armaan007

Material Testing Market was valued at USD 610.0 Million in 2016 and is projected to reach USD 785.7 Million by 2022, at a CAGR of 4.4%

 
[123 Pages Report] Material Testing Market was valued at USD 610.0 Million in 2016 and is projected to reach USD 785.7 Million by 2022, at a CAGR of 4.4% during the forecast period. The high demand for material testing in various industries, such as aerospace & defense, automotive, educational institution, and construction is driving the material testing market.

Purchase the report @ : https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=207231755

Among types, the universal testing machines segment led the Material Testing Market in 2016 

Universal testing machines is the largest segment of the Material Testing Market, owing to its cheap availability and its wide usage in various industries. Moreover, it is used to test mechanical properties in various materials, such as metal, rubber, polymers, and ceramics. It is also used to perform tests such as tensile, compression, peel, bend, and puncture test in industries, such as automotive, educational, medical devices, construction, aerospace & defense, and power.

Among end-use industries, the educational institutions segment is expected to lead the Material Testing Market during the forecast period 

Educational institutions is the largest segment of the Material Testing Market, owing to the increasing R&D activities carried out by the research scholars. Research is carried out by educational institutions either individually or in collaboration with the industries for better product developments.

The Material Testing Market in Asia Pacific is projected to grow at the highest CAGR during the forecast period 

Asia Pacific is the largest and the fastest-growing market for material testing. It is also a major market for construction, educational institution, and automotive globally. Countries in Asia Pacific are expanding their production capacities and investing in new projects due to increasing industrialization. Growing economies, increasing population, and standard of living are driving the automotive, construction, and aerospace & defense industries in the region. This, in turn, is fueling the growth of the Material Testing Market in Asia Pacific.

The key players considered in Material Testing Market report are: Instron (US), Zwick Roell (Germany), MTS Systems (US), Shimadzu (Japan), and Tinius Olsen (US). These companies undertake dynamic business strategies to sustain their growth in the Material Testing Market.

Zwick Roell adopted other strategies such as, investments & expansions and mergers & acquisitions to grow in the material testing market. In November 2015, the company opened its sales and service office in Japan. This development enabled the company to further enhance its operation in the Japanese market. In October 2015, the company launched new electro-dynamic testing machine for dynamic fatigue tests and static testing of components. This development strengthened the company’s product portfolio. In February 2015, the company acquired LATZKE Prüfmaschinen-Service (Germany), which offers products and services in harness testing. This expansion helped the company increase revenues and profit margins by expanding in Germany.

Early buyers will receive 10% customization on this report.

Don't miss out on business opportunities in Material Testing Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow.

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=207231755

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441 
[email protected]
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Markets And Markets
Country India
Categories Automotive , Construction , Education
Tags material testing , material testing companies , material testing industry , material testing manufacturers , material testing market
Last Updated March 19, 2019