Material Testing Market Growth Statistics 2022-28

The research report "Material Testing Market: By Test Type (Adhesion Testing, Bending / Flexural Testing, Coefficient of Friction Testing, Compression Testing and Others) By Equipment (Universal Testing Machines, Servo Hydraulic Testing Machines, Hardness Testing Machines, Impact Testing Machines and Others), By Material (Alloys, Polymers, Rubber, Metals, And Others), By End Users Industry (Building or Aircraft Construction, Machinery, Packaging and Others) and Geography- Global/Region/Country Forecast to 2028. The global material testing market size was valued at USD 633.7 million in 2021 and is poised to grow at a CAGR of 4.5% during the forecast period 2022-2028.

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An overview on the Global Material Testing Market:
Material testing has a huge array of applications including automotive, construction areas educational institutions, aerospace and defense. There are important factors that greatly contribute towards the growth of this industry market such as progress in infrastructural developments in emerging countries development of smart cities and fast urbanization. One of the major factors fuelling this industry market growth over the forecast period is the increasing technological development in material science. The global material testing market anticipated to be expand at considerable CAGR rate over 2022-2028 due to the increase in the need related to manufacturing standards for all fields and increasing educational research activities. Furthermore, growing adoption of material tests by making use of various materials includes metals, alloys, polymers rubber and making use of various kinds of raw materials and testing their mechanical strength for both maintaining and improving the quality fuels the market growth. However, lack of skilled operators and high cost of material testing can hamper the growth of market. MTS appointed novel distributors in Central America, Eastern Europe and Thailand in August 2019 and MTS Expands Presence in Wind Energy and Aerospace Markets through acquisition of Danish engineering firm in November 2019. Materials testing equipment and software developer Instron announced the introduction of the Torsion Add-On 3.0 for universal testing systems in February 2020.

North America accounted for larger share in the Global Material Testing Market:
Material testing market report aims at providing complete outlook on material testing around the globe with complete focus on major regions including Asia Pacific, North America, Europe, Latin America, Middle East and Africa. Among these regions, North America has anticipated to lead the revenue share because of the growing R&D segment of material science and the advanced equipment availability. There are a few other regions that also contribute in growing the material testing market such as Europe, Latin America and Asia Pacific. Asia Pacific is the biggest and rapidly growing market because of the increasing educational research activities in the region and growing industrialization.

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Competitive Analysis Global Material Testing Market:
Major players operating in the global material testing market are MTS Systems Corporation, Olympus Corporation Mistras Group, Inc. Shimadzu Corporation, Zwick RoelShimadzu, Tinius Olsen, Moog Inc, Ametek Inc., CMT Equipments, Applied Test Systems and Denison Mayes Group. These players in the market focus on following major strategies such as novel product launches and acquisitions.

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