Tensile Testing Machine Market Comprehensive Analysis By 2030

Tensile Testing Machine: Introduction

Tensile testing machines are also known as universal testing machines and tension test machines. Tensile testing machine is a testing equipment used to measure the mechanical properties or tensile strength of specimens. It measures the mechanical properties of a material, or characteristics such as ultimate tensile strength, yield strength, elongation, and modulus.
Tensile testing machines are also used to perform other tasks such as compression, cyclic, shear, flexure, bend, peel, and tear just by adding fixtures.

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The global tensile testing machine market is projected to expand at a rapid pace during the forecast period, due to increasing demand for tensile testing machines from automotive, and textile sectors.

Stringent government regulations regarding quality of tensile strength of specimens are anticipated to boost the demand for tensile testing machines in end-use industries during the forecast period.
Growing demand for four column testing machines in automotive and textile industries is expected to boost the demand for tensile testing machines
Increasing demand to improve the reliability, quality, and stability of products in different industries are some of the other factors projected to boost the global tensile testing machine market in the next few years.

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Focus of manufacturers on the development of tensile testing machines that comply with the required industrial standards is a major factor driving the usage of tensile testing machines. This factor is estimated to propel the market during the forecast period.

However, high upfront costs and lack of technical skills among instructors of tensile testing machines is expected to hamper the market growth during the forecast period.

Impact of COVID-19 on the Global Tensile Testing Machine Market

Increasing cases of COVID-19 across the globe is resulting in economic slowdown. The impact of COVID-19 is being absorbed in each sector of the economy, including the global manufacturing industry. This, in turn, is projected to indirectly hinder the global tensile testing machine market in the next few years.

Disruption in the supply chain of raw materials also hampers the market. Automotive sales are most likely to decrease 14% to 22% in the U.S, China, and European markets in 2020. Some of the events in the manufacturing industry also have been postponed or cancelled due to the COVID-19 pandemic.

North America to Hold Major Share of the Global Tensile Testing Machine Market

In terms of region, the global tensile testing machine market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America

North America dominated the global tensile testing machine market in 2019, due to presence of well-established and technologically advanced manufacturers in the region. The U.S. is a key market in North America, due to increase in investments in the automotive sector (increasing adoption and development of electric or autonomous vehicles).
The tensile testing machine market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to rapid industrialization, development of smart factories, and advent of Industry 4.0 in manufacturing plants in the region. China is a key market in Asia Pacific.

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This release was published on openPR.