Mechanical testing equipment growth expected to be strong
The mechanical testing equipment is expected to grow by more than 10% over the next decade and exceed $7 billion by 2032.
Mechanical engineering insights
- The market for mechanical testing equipment is set to grow at a robust CAGR of 12-13% from 2022 to 2032.
- Increased manufacturing activity, especially in emerging economies, is driving the need for mechanical testing tools to maintain product quality.
The market for mechanical testing equipment is anticipated to reach $6 billion by 2022, growing at a compound annual growth rate (CAGR) of between 12 and 13% from 2022 to 2032. By the end of 2032, it is anticipated that sales of mechanical testing equipment will surpass $7 Billion, up from $5.8 Billion in 2021.
Machines called mechanical testing apparatus are used to evaluate the mechanical characteristics of various materials. When doing mechanical testing, these devices are used to measure several properties like breaking point, tensile strength, adhesion, compression strength, and others.
In general, mechanical tests are carried out in quality testing labs utilizing mechanical testing equipment such as universal testing machines. Torsion, tension, vibration, drop (shock), and shearing forces are among the others used on samples during mechanical tests.
Factors and potential challenges for the mechanical equipment testing market
A significant increase in manufacturing activity is being observed, particularly in rising economies like China, India, Australia, Brazil, and others, as the trend of industrialization continues to make deeper inroads. As production rates increase, it is essential for manufacturers to include mechanical testing tools in their production procedures in order to maintain and regulate product quality.
Physical and mechanical examinations are crucial for determining product damage following accidents as well as for quality control in manufacturing businesses. The industrial manufacturing industry is predicted to implement quality control and quality assurance processes at an increasing rate, which would lead to significant income creation potential globally.
The market’s sales are being hampered by the mechanical testing equipment’s extravagant initial cost, high installation costs, and high maintenance costs. Additionally, the demand for qualified personnel and strict rules and standards for mechanical testing in many nations are limiting the worldwide market’s expansion.
– Future Market Insights is a CFE Media and Technology content partner.