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Material Testing Market | Key players operating in the market include Instron, Zwick Roell, MTS Systems, Shimadzu, and Tinius Olsen

06-08-2020 10:43 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Material Testing Market

Material Testing Market

According to recent market research "Material Testing Market by Type (Universal Testing Machines, Servohydraulic Testing Machines, Hardness Test Equipment), End-Use Industry (Automotive, Construction, Educational Institutions), Material, and Region - Global Forecast to 2022", The material testing market is estimated at USD 633.6 Million in 2017, and is projected to reach USD 785.7 Million by 2022, at a CAGR of 4.4% from 2017 to 2022.

Browse 70 market data Tables and 26 Figures spread through 123 Pages and in-depth TOC on "Material Testing Market - Global Forecast to 2022"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/material-testing-market-207231755.html

The growing demand for material testing in the educational institutions is driving the material testing market. The increasing necessity to meet manufacturing standards, such as ASTM, and ISO, have resulted in high demand for material testing equipment.

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.
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.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=207231755

The material testing market is estimated at USD 633.6 Million in 2017 and is projected to reach USD 785.7 Million by 2022, at a CAGR of 4.4% from 2017 to 2022. Growing demand for material testing in various industries is the major driver of the market. The growing industrialization is also driving the market.

The report analyzes key growth strategies adopted by the leading market players between 2015 and 2017. Instron (US), Zwick Roell (Germany), MTS Systems (US), Shimadzu (Japan), Tinius Olsen (US), and Ametek (US) are the key players operating in the material testing market. These companies adopted various strategies, such as new product launches, mergers & acquisitions, and investments & expansions to strengthen their presence in the material testing market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=207231755

Instron is a leading company operating in the material testing market. It has adopted new product launches as its major strategy. Introduction of new products such as TestMaster AT3 in September 2015, material testing software Bluehill in February 2017, and video extensometer AVE 2 in January 2015 strengthened the company’s product portfolio. The company earns steady revenue through its varied electrochemical and static hydraulic industrial series and is expanding its operating segments, globally. It aims to be the most valuable and reliable material testing company, globally.

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.

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