Press release
Construction Material Testing Equipment Market Size Forecasted To Achieve $4.16 Billion By 2029 With Steady Growth
Construction Material Testing Equipment Market Size
What Is the Construction Material Testing Equipment Market Size and Projected Growth Rate?
The market for construction material testing equipment has witnessed solid expansion in the past few years. The size of the market is projected to increase from $3.27 billion in 2024 to $3.47 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. The substantial growth in the past has been due to factors such as infrastructure growth, urbanization, strict regulations, globalization, and requirements for quality assurance.
Expectations forecast a consistent growth in the construction material testing equipment market size over the coming years, reaching a value of $4.16 billion by 2029. This comes with an anticipated compound annual growth rate (CAGR) of 4.6%. Factors contributing to this projected growth in the forecast period include developments in renewable energy infrastructure, digitalization and industry 4.0, sustainable construction methods, smart cities evolution, and an uptick in global construction activities. During the forecast period, we envisage key trends such as the incorporation of artificial intelligence (AI) and machine learning (ML), a surge in remote monitoring and telemetry, focus on sustainable testing procedures, proliferation of portable and handheld devices, and a rise in the use of cloud-based testing platforms.
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What Are the Major Segments in the Construction Material Testing Equipment Market?
The construction material testing equipment market covered in this report is segmented -
1) By Product Type: Soil Testing Equipment, Aggregate Testing Equipment, Concrete Testing Equipment, Other Products
2) By Location: On-Site, R&D Laboratories, Educational Institutes
3) By Application: Residential, Commercial, Transport, Other Applications
4) By Industry: Food And Beverages, Pharmaceuticals, Metal Working, Building And Construction, Other Industries
Subsegments:
1) By Soil Testing Equipment: Proctors Compaction Testers, Atterberg Limits Testers, Triaxial Test Equipment, Permeability Test Equipment, Soil Vane Shear Testers, Other Soil Testing Instruments
2) By Aggregate Testing Equipment: Sieve Shakers, Aggregate Impact Testers, Aggregate Crushing Value Testers, Abrasion Testing Machines, Flakiness And Elongation Testers, Other Aggregate Testing Instruments
3) By Concrete Testing Equipment: Compression Testing Machines, Slump Test Apparatus, Concrete Mixer, Concrete Air Meter, Rebound Hammer Testers, Concrete Penetrometer, Other Concrete Testing Devices
4) By Other Products: Asphalt Testing Equipment, Bitumen Testing Equipment, Cement Testing Equipment, Non-Destructive Testing (NDT) Equipment, Corrosion Testing Equipment, Other Specialized Testing Instruments
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What Are The Driving Construction Material Testing Equipment Market Evolution?
The burgeoning progress of the construction sector is likely to fuel the expansion of the market for construction material testing equipment. The construction industry encompasses the fields focused on the organization, development, refurbishment, and upkeep of physical infrastructures and buildings. The growth in this sector can be attributed to the increased demand for revamping, restructuring, and renovating present buildings, along with a rise in the establishment of single-family residences, multiple dwelling units, and cost-effective housing projects. Construction material testing equipment is employed in the construction arena to examine the characteristics, strength, and longevity of materials such as concrete, asphalt, soil, and aggregates, guaranteeing adherence to project requirements and regulatory norms. For instance, an August 2024 report titled Construction Industry Statistics (2024), released by Upmetrics, a U.S-based firm for business planning software, stated that in 2023, the U.S construction sector held a value of $1.8 trillion, providing a 4% addition to the GDP, while the global construction industry had a value of $8.9 trillion. The overall value of the international sector is roughly $12.74 trillion. The global residential construction market held a value of $5,267 billion in 2022 and it was projected to amplify to $8,308 billion by 2032, displaying an annual growth rate of 4.8% between 2023 and 2032. Consequently, the escalating expansion of the construction sector is catalyzing the growth of the construction material testing equipment market.
Which Firms Dominate The Construction Material Testing Equipment Market Segments?
Major companies operating in the construction material testing equipment market are 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
What Trends Are Expected to Dominate the Construction Material Testing Equipment Market in the Next 5 Years?
Leading firms in the construction material testing equipment market are innovating and creating advanced solutions like connected CMT equipment to foster a competitive advantage. These connected CMT devices are high-tech testing tools that boast integration with digital tech and software platforms, enabling unhindered communication and data transmission between the machinery and outside systems. For example, Forney LP, an American firm specializing in the manufacturing of construction materials testing machinery, introduced its Connected CMT machines in January 2024. These machines streamline the testing process, eliminating potential errors like sample mislabeling while augmenting efficiency and precision. They allow technicians to load and examine specimens at twice the speed, guaranteeing that every test is carried out precisely and punctually. This is facilitated by features such as barcode scan for surefire sample identification and pre-test Smart Checks to verify sample data and properties. The inclusion of ForneyVault, a potent software platform, bolsters the testing procedure by supplying comprehensive XY plot data for each test, reminders and alerts regarding calibration expiration and discrepancy, and smart workflows for reporting and approval.
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Which Is The Largest Region In The Construction Material Testing Equipment Market?
North America was the largest region in the construction material testing equipment market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Construction Material Testing Equipment Market?
2. What is the CAGR expected in the Construction Material Testing Equipment Market?
3. What Are the Key Innovations Transforming the Construction Material Testing Equipment Industry?
4. Which Region Is Leading the Construction Material Testing Equipment Market?
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