Tensile Testing Machine Market to Witness Remarkable Growth from 2020 - 2030

Tensile Testing Machine:

• Tensile testing machines are also known as universal testing machines and tension test machines. A tensile testing machine is 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.
• 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.

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Global Tensile Testing Machine Market: Dynamics

Global Tensile Testing Machine Market: Key Drivers and Restraint

• End-users shifting from manual tensile testing machines to automated tensile testing machines is anticipated to propel the tensile testing machine market in the next few years.
• 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.
• 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.

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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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Global Tensile Testing Machine Market: Competition Landscape

Several local, regional, and international players are active in the tensile testing machine market. Hence, the market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Rapid technological advancements have led to opportunities in the global tensile testing machine market. Market players are gradually focusing on merger and acquisition activities to develop new products and improve their existing product offerings.

Key Players Operating in the Global Tensile Testing Machine Market:
• ADMET, Inc.
• AMETEK (Lloyd)
• Applied Test Systems
• Cometech Testing Machines Co., Ltd.
• ETS Intarlaken
• FORM+TEST GmbH
• Hegewald and Peschke
• Illinois Tool Works Inc.
• INSTRON
• JINAN SHIJIN GROUP
• Karg Industrietechnik
• Keysight Technologies
• Mecmesin Germany
• MTS Systems Corporation
• Qualitest International
• Shimadzu Corporation
• Testing Machines, Inc.
• Tinius Olsen
• Torontech Group
• WPM Werkstoffprüfsysteme Leipzig GmbH
• Zwick/Roell

Global Tensile Testing Machine Market: Research Scope

Global Tensile Testing Machine Market, by Product Type
• Single Column Testing Machine
• Dual Column Testing Machine
• Four Column Testing Machine

Global Tensile Testing Machine Market, by Industry
• Automotive
• Paper & Plastic
• Textiles
• Electronics & Electricals
• Aerospace Material Testing
• Construction Material Testing
• Research & Academia
• Others

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