Mechanical Testing Equipment Market
Mechanical Testing Equipment Market Forecasts to 2030 - Global Analysis By Equipment Type (Universal Testing Machine, Fatigue Testing Machine, Special Testing Machine, Hardness Testing Machine, Impact Testing Machine and Other Equipment Types), Technology (Electromechanical, Hydraulic and Other Technologies), Application (Manufacturing, Civil Engineering, Pharmaceutical Industry, Scientific Institutions, Automotive, Aerospace & Defense and Other Applications), End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $7.56 BN |
|
Projected Year Value (2030) |
US $19.16 BN |
|
CAGR (2023 - 2030) |
14.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
South America |
According to Stratistics MRC, the Global Mechanical Testing Equipment Market is accounted for $7.56 billion in 2023 and is expected to reach $19.16 billion by 2030 growing at a CAGR of 14.2% during the forecast period. Equipment used for mechanical testing evaluates the mechanical characteristics of various materials. These apparatuses are employed in mechanical testing to determine parameters such as the breaking point, the tensile strength, the adhesion, the compression strength, and others. Torsion, tension, vibration, drop (shock), and shearing forces are just a few of the forces used in mechanical tests, which are typically carried out in quality testing labs using mechanical testing equipment like universal testing machines.
According to a study by the India Brand Equity Foundation, the Indian Government announced allocating around US$ 868 Mn under the country’s Smart City Mission to build more than 100 smart cities across India for the period 2021-2022.
Market Dynamics:
Driver:
Technological innovations
The global Mechanical Testing Equipment market expected to drive growth during the forecast period. Mechanical testing equipment market expansion is greatly influenced by ongoing technological developments in testing equipment. Mechanical testing equipment's precision, effectiveness, and capabilities are improved by the integration of cutting-edge sensors, automation, and data analytics. Features like real-time monitoring, digital controls, and cloud-based data management systems enhance testing procedures, lower human error, and offer actionable insights for better decision-making.
Restraint:
Insufficient skilled workforce
The global Mechanical Testing Equipment market expected to hinder growth during the forecast period. Mechanical testing equipment requires specialized knowledge and expertise to operate and interpret the results. The efficient use of mechanical testing equipment may be hampered by a lack of qualified workers with the required technical skills. Moreover, companies may experience difficulties finding and keeping qualified employees, which may have an impact on market expansion.
Opportunity:
Importance of non-destructive testing is increasing
The global Mechanical Testing Equipment market expected to drive growth during the forecast period. Techniques for non-destructive testing (NDT) are becoming more popular in sectors like infrastructure, oil and gas, and aerospace. The benefit of NDT is that it allows for damage-free inspection and assessment of the consistency of materials and components. Moreover, the increased emphasis on safety, preventive maintenance, and asset management presents opportunities for manufacturers of mechanical testing equipment to provide cutting-edge NDT solutions and increase their market presence.
Threat:
Replacement through non-mechanical testing methods
During the anticipated period, the global market for mechanical testing equipment is anticipated to limit growth. Alternative testing techniques, like non-mechanical and non-destructive testing methods, could pose threats to the market. Additionally, in some cases, mechanical testing can be effectively replaced by modern technologies like ultrasonic testing, X-ray inspection, and infrared thermography. In particular industries and applications, the use of these alternative techniques can lessen the need for mechanical testing machinery.
Covid-19 Impact:
The market for mechanical testing tools has been significantly impacted by the COVID-19 pandemic. A temporary slowdown in the market was brought on by the widespread disruptions brought on by the pandemic, including lockdown procedures, supply chain problems, and reduced industrial activity. Mechanical testing equipment was less necessary as a result of decreased demand and postponed projects in many industries, including the automotive, aerospace, and manufacturing ones. However, there is a growing understanding of the significance of quality control and safety precautions as industries gradually recover and adjust to the new normal. Due to this, there is now more emphasis on implementing rigorous testing procedures, such as mechanical testing, to guarantee product dependability and compliance with health and safety regulations.
The Universal Testing Machine segment is expected to be the largest during the forecast period
During the anticipated period, the segment of universal testing machine is anticipated to hold the largest market share for mechanical testing equipment. The mechanical characteristics of various materials, such as metals, plastics, rubber, and composites, are assessed using universal testing machines, which are adaptable testing apparatus. They can carry out a variety of tests, including tensile, compression, bending, and shear ones, enabling thorough material characterization. UTMs are frequently used for quality control, research and development, and material testing in sectors like automotive, aerospace, manufacturing, and research labs.
The Semiconductor and Electronics segment is expected to have the highest CAGR during the forecast period
The semiconductor and electronics segment is anticipated to have the highest CAGR over the forecast period. First off, the semiconductor and electronics industries are undergoing a rapid period of technological innovation, which is resulting in the creation of components that are smaller, more effective, and more complex. Stringent quality control and testing procedures are required by the rising demand for dependable and high-performance electronic devices, which is fueling the demand for sophisticated mechanical testing tools.
Region with largest share:
During the forecast period, the Asia-Pacific region is anticipated to hold the largest share. Major manufacturing hubs like China, Japan, South Korea, and India are located in the Asia-Pacific region, and their thriving industrial sectors are what are driving the demand for mechanical testing equipment. These nations are renowned for their prowess in the manufacturing, automotive, electronics, and aerospace sectors. The demand for mechanical testing equipment is further boosted by the region's emphasis on quality control, adherence to international standards, and rising research and development expenditures.
Region with highest CAGR:
The region of South America is anticipated to have the highest CAGR during the forecast period. Mechanical testing equipment is in high demand in South America due to the region's expanding manufacturing sector, which includes sectors like consumer electronics, automotive, and aerospace. The market is expanding as a result of the expansion of infrastructure projects in the area, urbanization, and investments in renewable energy sources. Additionally, the healthcare industry is growing in the area, which opens up opportunities for the use of mechanical testing tools in the production and quality control of medical devices.
Key players in the market
Some of the key players in Mechanical Testing Equipment market include AMA Laboratories, AMETEK, Anritsu Corporation, Applied Test Systems, Emerson Apparatus, ETS Intarlaken, Fortive Corporation, Instron Corporation, Jinan Shijin Group Co., Keysight Technologies, Inc., MTS Systems, National Instruments Corporation, NSL Analytical Services, Inc., Qingdao Hantek Electronic Co., Ltd., Qualitest International , Shanghai Hualong Test Instrumens, Torontech Group International, UNI-Trend Technology and Yokogawa electric corporation.
Key Developments:
In March 2022, National Instruments Corporation has announced that NI had completed the acquisition of Heinzinger Automotive GmbH, the electronic vehicle systems business of Rosenheim-based Heinzinger electronic GmbH.
In April 2020, Yokogawa acquired Scarborough-based Fluid Imaging Technologies. Terms of the deal were not disclosed.
In June 2021, MTS Sensors began operating under the name Temposonics following Amphenol's acquisition of MTS Systems earlier that year.
Equipment Types Covered:
• Universal Testing Machine
• Fatigue Testing Machine
• Special Testing Machine
• Hardness Testing Machine
• Impact Testing Machine
• Other Equipment Types
Technologies Covered:
• Electromechanical
• Hydraulic
• Other Technologies
Applications Covered:
• Manufacturing
• Civil Engineering
• Pharmaceutical Industry
• Scientific Institutions
• Automotive
• Aerospace & Defense
• IT and Telecommunication
• Industrial
• Healthcare
• Semiconductor and Electronics
• Education and Government
• Other Applications
End Users Covered:
• Research & Development
• Quality Control
• Production Testing
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Mechanical Testing Equipment Market, By Equipment Type
5.1 Introduction
5.2 Universal Testing Machine
5.3 Fatigue Testing Machine
5.4 Special Testing Machine
5.5 Hardness Testing Machine
5.6 Impact Testing Machine
5.7 Other Equipment Types
6 Global Mechanical Testing Equipment Market, By Technology
6.1 Introduction
6.2 Electromechanical
6.3 Hydraulic
6.4 Other Technologies
7 Global Mechanical Testing Equipment Market, By Application
7.1 Introduction
7.2 Manufacturing
7.3 Civil Engineering
7.4 Pharmaceutical Industry
7.5 Scientific Institutions
7.6 Automotive
7.7 Aerospace & Defense
7.8 IT and Telecommunication
7.9 Industrial
7.10 Healthcare
7.11 Semiconductor and Electronics
7.12 Education and Government
7.13 Other Applications
8 Global Mechanical Testing Equipment Market, By End User
8.1 Introduction
8.2 Research & Development
8.3 Quality Control
8.4 Production Testing
8.5 Other End Users
9 Global Mechanical Testing Equipment Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 AMA Laboratories
11.2 AMETEK
11.3 Anritsu Corporation
11.4 Applied Test Systems
11.5 Emerson Apparatus
11.6 ETS Intarlaken
11.7 Fortive Corporation
11.8 Instron Corporation
11.9 Jinan Shijin Group Co.
11.10 Keysight Technologies, Inc.
11.11 MTS Systems
11.12 National Instruments Corporation
11.13 NSL Analytical Services, Inc.
11.14 Qingdao Hantek Electronic Co., Ltd.
11.15 Qualitest International
11.16 Shanghai Hualong Test Instruments
11.17 Torontech Group International
11.18 UNI-Trend Technology
11.19 Yokogawa electric corporation
List of Tables
1 Global Mechanical Testing Equipment Market Outlook, By Region (2021-2030) ($MN)
2 Global Mechanical Testing Equipment Market Outlook, By Equipment Type (2021-2030) ($MN)
3 Global Mechanical Testing Equipment Market Outlook, By Universal Testing Machine (2021-2030) ($MN)
4 Global Mechanical Testing Equipment Market Outlook, By Fatigue Testing Machine (2021-2030) ($MN)
5 Global Mechanical Testing Equipment Market Outlook, By Special Testing Machine (2021-2030) ($MN)
6 Global Mechanical Testing Equipment Market Outlook, By Hardness Testing Machine (2021-2030) ($MN)
7 Global Mechanical Testing Equipment Market Outlook, By Impact Testing Machine (2021-2030) ($MN)
8 Global Mechanical Testing Equipment Market Outlook, By Other Equipment Types (2021-2030) ($MN)
9 Global Mechanical Testing Equipment Market Outlook, By Technology (2021-2030) ($MN)
10 Global Mechanical Testing Equipment Market Outlook, By Electromechanical (2021-2030) ($MN)
11 Global Mechanical Testing Equipment Market Outlook, By Hydraulic (2021-2030) ($MN)
12 Global Mechanical Testing Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
13 Global Mechanical Testing Equipment Market Outlook, By Application (2021-2030) ($MN)
14 Global Mechanical Testing Equipment Market Outlook, By Manufacturing (2021-2030) ($MN)
15 Global Mechanical Testing Equipment Market Outlook, By Civil Engineering (2021-2030) ($MN)
16 Global Mechanical Testing Equipment Market Outlook, By Pharmaceutical Industry (2021-2030) ($MN)
17 Global Mechanical Testing Equipment Market Outlook, By Scientific Institutions (2021-2030) ($MN)
18 Global Mechanical Testing Equipment Market Outlook, By Automotive (2021-2030) ($MN)
19 Global Mechanical Testing Equipment Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
20 Global Mechanical Testing Equipment Market Outlook, By IT and Telecommunication (2021-2030) ($MN)
21 Global Mechanical Testing Equipment Market Outlook, By Industrial (2021-2030) ($MN)
22 Global Mechanical Testing Equipment Market Outlook, By Healthcare (2021-2030) ($MN)
23 Global Mechanical Testing Equipment Market Outlook, By Semiconductor and Electronics (2021-2030) ($MN)
24 Global Mechanical Testing Equipment Market Outlook, By Education and Government (2021-2030) ($MN)
25 Global Mechanical Testing Equipment Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Mechanical Testing Equipment Market Outlook, By End User (2021-2030) ($MN)
27 Global Mechanical Testing Equipment Market Outlook, By Research & Development (2021-2030) ($MN)
28 Global Mechanical Testing Equipment Market Outlook, By Quality Control (2021-2030) ($MN)
29 Global Mechanical Testing Equipment Market Outlook, By Production Testing (2021-2030) ($MN)
30 Global Mechanical Testing Equipment Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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