Material Testing Market 2022 Strategic Assessments - Admet Inc., Ametek Inc., Applied Test Systems LLC, Illinois Tool Works Inc., Labquip, Mistras Group Inc.

The Material Testing Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global material testing market reached a value of US$ 5.8 Billion in 2021. Looking forward, expects the market to reach US$ 7.8 Billion by 2027, exhibiting a CAGR of 5.11% during 2022-2027.

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Top Leading Companies of Material Testing Market are 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 and ZwickRoell AG., Rockwell Automation and others.

Market Overview

Material testing refers to the technique of measuring the physical, structural and mechanical properties of various materials and components. It is used for analyzing the behavior of metals, ceramics and plastics, under different conditions and for assessing if they are in optimal condition. Material testing can be classified as mechanical testing; thermal testing; resistance testing against corrosion, radiation and biological deterioration; and nondestructive testing. These tests are majorly conducted through universal, servo-hydraulic, hardness and impact test machines and are used for production, quality control, research, and laboratory applications. As a result, material testing finds extensive applications across various industries, such as automotive, aerospace & defense, construction, education, energy & power and oil & gas.

Recent Developments

Rockwell Automation has acquired Emulate3D engineering software developer, to digitally simulate industrial automation systems, helping Rockwell automation to digitally simulate the material testing, hence saving time and resources.
Newly emerging range semiconductors show deviations in quantum properties when compared to their predecessors. Upon further testing and development, these semiconductors can be properly and fully utilized in electronics like LED lights and solar panels. 

Market Segmentation

Breakup by Type:

Universal Testing Machines

Servohydraulic Testing Machines

Hardness Testing Machines

Impact Testing Machines

Non-Destructive Testing Machines

Breakup by End Use Industry:

Automotive

Construction

Education

Aerospace and Defense

Oil and Gas

Energy and Power

Others

Regional Outlook of Material Testing Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Material Testing Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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