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Construction Material Testing Equipment Market Size, Growth Analysis, Share, Key Trends And Forecast To 2033
Construction Material Testing Equipment Market
According to The Business Research Company's, The construction material testing equipment market size has grown strongly in recent years. It will grow from $3.08 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to infrastructure development, urbanization, stringent regulations, globalization, quality assurance requirements.
The construction material testing equipment market size is expected to see strong growth in the next few years. It will grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to renewable energy infrastructure, digitalization and industry 4.0, sustainable construction practices, smart cities development, global construction boom. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning (ML), rise of remote monitoring and telemetry, emphasis on sustainable testing solutions, expansion of portable and handheld devices, adoption of cloud-based testing platforms.
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Market Drivers and Trends:
The rising expansion of the construction industry is expected to propel the growth of the construction material testing equipment market going forward. The construction industry refers to the sector dedicated to the planning, creation, renovation, and maintenance of physical structures and infrastructure. The construction sector is growing due to a significant demand for renovation, remodeling, and retrofitting of existing buildings and the increasing development of single-family homes, multi-family housing units, and affordable housing projects. Construction material testing equipment is used in the construction industry to assess the quality, strength, and durability of materials such as concrete, asphalt, soil, and aggregates, ensuring compliance with project specifications and regulatory standards. For instance, in February 2022, according to a report published by the Office for National Statistics, a UK-based administrative office, the annual construction sector rose by a record 12.7% in 2021 compared to the previous year. The volume of monthly construction output climbed by 2.0% in December 2021. In addition to the monthly rise, the construction industry's quarterly production climbed by 1.0% in Q4 2021 compared to Q3 of the same year. Therefore, the rising expansion of the construction industry is driving the growth of the construction material testing equipment market.
Major companies operating in the construction material testing equipment market are developing new advanced solutions, such as connected CMT machines, to gain a competitive edge in the market. Connected CMT (construction materials testing) machines are advanced testing equipment integrated with digital technology and software platforms, allowing seamless communication and data exchange between the machine and external systems. For instance, in January 2024, Forney LP, a US-based construction materials testing machine manufacturing company, launched Connected CMT Machines. These machines revolutionize the testing process by eliminating the risk of specimen misidentification and significantly increasing efficiency and accuracy. With connected machines, technicians can now load and test specimens twice as fast while ensuring that each test is conducted on the correct specimen on the right date. This is made possible through advanced features such as positive specimen identification via barcode scan and pre-test Smart Checks that validate sample data and characteristics. The integration with ForneyVault, a powerful software platform, further enhances the testing process by providing detailed XY plot data for every test, alerts and notifications for calibration expiration and variance, and intelligent workflows for reporting and approvals.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Qualitest International Inc., MTS Systems Corporation, Zwick Roell Group, Aimil Ltd., Instron Corporation, Tinius Olsen Testing Machine Company, Hoskin Scientific, Gilson Company Inc., CONTROLS Group, Cooper Research Technology Ltd., Testmark Laboratories Ltd., Applied Test Systems, Pavement Technology Inc., Papworths Construction Testing Equipment Pty Ltd., Giatec Scientific Inc., Olson Instruments Inc., M&L Testing Equipment Inc., ELE International Ltd., CMT Equipment Ltd., Humboldt Mfg. Co., James Instruments Inc., Matest S.p.A., Torontech Inc., Forney LP
Construction Material Testing Equipment Market 2024 Key Insights:
• The Construction Material Testing Equipment Market is expected to grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Expansion Of Construction Industry Fuels Growth In The Construction Material Testing Equipment Market
• Connected CMT Machines Transforming The Construction Material Testing Equipment Market
• North America was the largest region in the construction material testing equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction material testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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