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Sales Revenue of Bitumen Testing Equipment Market to Surge in the Near Future Owing to Rapid Adoption Across Key Industries

05-30-2019 01:06 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Bitumen Testing Equipment Market

Bitumen Testing Equipment Market

Bitumen Testing Equipment Market: Overview

The need for new constructions projects, infrastructure development, and roadways is increasing due to rapid urbanization, industrialization, and rising population. Increase in such construction activities is creating demand for cement, concrete, mortar, ceramic, slate, stones, pipes, adhesives & sealants, and others and bitumen is one such ingredient. As Bitumen is one of the key components in the construction of roads, building, and highways, the demand for Bitumen testing equipment is expected to increase significantly. Bitumen testing equipment is one of the essential equipment as it is used for testing the bitumen properties as it is used for ensuring the strength required at the construction locations. Manufacturers of Bitumen testing equipment are focusing on improving the standardizations and quality of Bitumen testing equipment so that this equipment can be used at required operations. In addition to this, the manufacturers of Bitumen testing equipment are focusing on adding technological parameters to improve the performance of Bitumen testing equipment and also deliver a more automated and efficient workflow for this equipment. Applications of Bitumen testing equipment is increasing across different construction areas due to their ability to test and analyze different properties of bitumen. Rising awareness about the importance of material testing equipment is one of prime factor resulting in increasing demand for Bitumen testing equipment.  

Bitumen Testing Equipment Market: Drivers and Restraints

The Bitumen testing equipment is available as per different application areas such as crude oil processing, construction, and others is one of the prime factor driving the growth of the market. Increasing usage of bitumen in industries is fuelling the demand for Bitumen testing equipment. In addition to this, the manufacturers are offering customization options for end users of Bitumen testing equipment which is resulting in increasing demand for Bitumen testing equipment. Applications of bitumen testing equipment in determining the softening point of bitumen, mix evaluations, SHRP testing, and others are resulting in increasing popularity of bitumen testing equipment. Properties of Bitumen such as its waterproof nature and adhesive property is widening its application areas and hence driving the bitumen testing equipment market growth. On the other hand, less adoption rate in developing countries and high prices are some of the challenges hindering the growth of bitumen testing equipment market. 

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Bitumen Testing Equipment Market: Segmentation

The global bitumen testing equipment market is segmented on the basis of product type, application areas, and region.

Segmentation Based on Product Type:

On the basis of product type, bitumen testing equipment market is segmented into different types of products involved in the process of Bitumen Testing. The segmentation on the basis of product type includes bitumen penetrometer, ductility testing machine, tar viscometer, bitumen mixer, and others.

Segmentation Based on Application Areas:

On the basis application areas, the bitumen testing equipment market is segmented into construction, oil and petroleum testing, and others.

Segmentation Based on Region:

On the basis of region, the global bitumen testing equipment market is segmented into North America, Europe, Asia Pacific excluding Japan, Latin America, Japan, and Middle East & Africa.

Bitumen Testing Equipment Market: Key Players

Some of the leading manufacturers of bitumen testing equipment includes Accro-Tech Scientific Industries, Humboldt Mfg. Co., Associated Scientific and Engineering Works, EIE Instruments, CONTROLS, Cooper Technology, Applied Test Systems, D M Instruments, infraTest Pruftechnik GmbH, and others. Product innovations, acquisition, are some of the leading strategies which are followed by these leading players in the bitumen testing equipment market. The manufactures of bitumen testing equipment are also focusing on maintaining effective sales channel to sustain in global competition as e-commerce websites are distributing such products to different locations. 

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Bitumen Testing Equipment Market: Region-wise Outlook

Regarding demand for bitumen testing equipment, North America region dominates the market due to increasing usage of bitumen in the construction and infrastructural projects. Bitumen testing equipment is used for testing and analyzing the bitumen properties so that the end users can have desired properties. Europe bitumen testing equipment market follows North America region in terms of demand for bitumen testing equipment. APEJ region is expected to grow at significant CAGR over the forecast period due to the increasing focus of governments in this region on maintaining the quality of roads, highways, and other constructional projects. Demand for bitumen testing equipment in the MEA region is primarily driven by increasing applications of bitumen testing equipment in the petroleum and oil testing.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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