Tensile Testing Machine Market Size shall reach a value of $9.421 Billion in 2027, growing with a CAGR of 3.9% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Tensile testing machines are also referred to as tension test machines and universal testing machines. The tensile testing machine is a testing device used to measure the tensile strength of specimens or mechanical properties. It assesses the mechanical properties of a substance, such as paper, metal, textile, e.t.c, or characteristics such as yield strength, elongation, optimum tensile strength, and modulus.
Tensile testing machines can be used to administer other duties like bend, peel, compression, shear, flexure, tear, and cyclic only by including fixtures. A tensile test machine can also be used to verify whether prospect materials pass the needed elongation and strength requirements for a specific product. In the metals industry, tensile testing provides an opportunity to discover new alloys, their qualities, and the possible uses they might have.
Tensile testing performs a key role in identifying important properties of engineering equipment as well as in formulating new engineering equipment. They are mostly used in the automotive and aerospace industry for quality verification and design validation of assemblies, specimen, or whole products.
Tensile Testing Machine Market Growth and Trends
Driving factors for the industry :
• The global tensile testing machine market is expected to face huge demand and rapid industrial growth due to the presence of innumerable sectors under the manufacturing industries that demand for tensile testing machines extensively.
• Rapid growth of the paper and pulp industries. textile, automotive sector industries across various developed and developing economies around the world will also be responsible to ensure a rapid boost to the growth of the global tensile testing market, owing to the high demand for these machines in various metal, paper, pulp, textile and automation activities.
• Growing requirement of robust quality control in the manufacturing sectors is another key factor driving the demand and control of the tensile testing machine market.
• The rising development of technologically advanced tensile testing machines attracts a larger end use customer base and in turn holds a significant position in rapid market growth.
• The ever developing automobile and steel industry will generate high revenue owing to the extensive demand for tensile testing machine market in those industries.
• The growing market trend among the countries to shift to automated tensile testing machine market from manual ones, are expected to drive the demand and growth of the Global tensile testing machine market.
• Strict awareness and government policies regarding quality of tensile strength , along with growing demand for durability, reliability and stability of products, are two other key factors anticipated to boost the demand and growth of the global tensile testing market.
• The growing urge among consumers to put emphasis on the better quality of products, is a key factor driving the growth and demand for the tensile testing machine’s market.
• Due to rapid urbanisation, many industries all over the world are aiming towards organic as well as inorganic growth strategies. The organic growth strategy mainly pertains to product launches, testing, product approvals and various other direct product events. Whereas, the inorganic growth strategy pertains to partnership, acquisitions and business collaboration. These modern thought factors are responsible for the high demand and for providing ample opportunities for the rapid expansion in growth of the tensile testing machines market.
Challenges for the industry :
• During the recent period of time the global testing machine market has to go through several factors like high fluctuation in oil prices, global economical instability and various geopolitical factors.
• Lofty upfront costs, and the lack of proper technical skills among the staff work personnel are other two factors which are responsible for hampering the market growth.
Tensile Testing Machine Market Regional Analysis
North America accounts for the maximum revenue in the Tension Test Machine market because of increased automotive units and technologically advanced manufacturers. Countries like Canada and the USA holds a great share in the US market. The Asia Pacific is the second largest market, especially China which contributes a substantial amount to the market. Countries like Norway, Sweden, Netherlands, Singapore, Japan, Denmark, the United Kingdom, Finland, South Korea, and Belgium are increasing because of the need for Tensile Testing Machines and their roles in the manufacturing industries. Other countries like Qatar, Ireland, Israel, New Zealand, and Germany are giving fair competition in terms of demands.
Tensile Testing Machine Market Share and Competition
Key companies operating in this industry are: 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 and Zwick/Roell. Similar industries in this domain that is growing at a high CAGR include Fatigue Testing Machine Market and Spring Testing Machine Market.
Tensile Testing Machine Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
• Single Column Testing Machine
• Dual Column Testing Machine
• Four Column Testing Machine
Industry Analysis (Revenue, USD Million, 2020 - 2027)
• Automotive
• Paper & Plastic
• Textiles
• Electronics & Electricals
• Aerospace Material Testing
• Construction Material Testing
• Research & Academia
• Others
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Tensile Testing Machine Market Companies
• 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
Available Versions: -
United States Tensile Testing Machine Market Research Report
Europe Tensile Testing Machine Market Research Report
Asia Pacific Tensile Testing Machine Market Research Report
India Tensile Testing Machine Market Research Report
