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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Mechanical Test Equipment market for 2018-2023.
Mechanical testing reveals the elastic and inelastic behavior of a material when force is applied. A mechanical test shows whether a material or part is suitable for its intended mechanical applications by measuring elasticity, tensile strength, elongation, hardness, fracture toughness, impact resistance, stress rupture, and fatigue limit.
North America was the largest consumption market with a market share of 25.13% in 2012 and 21.53% in 2017 with an increase of 3.60 %. China and Europe ranked the second and third markets with the market share of 21.13% and 20.14% in 2016.
This market is increasingly witnessing a trend towards upgrading equipment, replacing relevant modules of existing systems and retrofitting. This is mainly due to advancements made in computer control technology, which has led to a growing focus on data collection and real time analysis. Retrofitting is attractive to end users who are always limited by low capital budgets. Yet, it challenges the sale of new equipment. To successfully deal with this challenge, companies should maintain a balance between retrofitting and selling new equipment. From another point of view, it could also be considered as an opportunity companies could take advantage of to improve their sales and market position.
Over the next five years, LPI(LP Information) projects that Mechanical Test Equipment will register a 3.3% CAGR in terms of revenue, reach US$ 1290 million by 2023, from US$ 1070 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Mechanical Test Equipment market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Universal Testing Machine
- Fatigue Testing Machine
- Special Testing Machine
Segmentation by application:
- Civil Engineering
- Pharmaceutical Industry
- Scientific Institutions
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Hegewald & Peschke
- Tinius Olsen
- Shanghai Hualong Test Instrumens
- Hung Ta
- Applied Test Systems
- Torontech Group International
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Mechanical Test Equipment consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Mechanical Test Equipment market by identifying its various subsegments.
- Focuses on the key global Mechanical Test Equipment manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Mechanical Test Equipment with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Mechanical Test Equipment submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.