Analysis of the Global Material Testing Equipment Market

Pushing Though Despite Economic and Technological Obstacles

07 Dec, 2015, 15:04 ET from Reportlinker

NEW YORK, Dec. 7, 2015 /PRNewswire/ -- Owing to concerns over the global economy, the material test equipment market has witnessed a gradual slowdown. However, a strong performance from the automotive industry is expected to revive this industry in the mid-term of the forecast period. The rate of technological evolution of these systems still remains a concern. As manufacturing graduates toward concepts such as smart manufacturing and Industry 4.0, the ability of these systems to keep pace with these changes is questionable and could impact the long-term growth prospects of this market.

Key Findings
Despite headwinds market moves ahead at % CAGR.
The market has been exposed to several high-risk factors such as the global economic instability, turbulent oil prices, and geopolitical factors; however, the market continues to exhibit stable growth.
The automobile industry has benefitted from reduced oil prices.
The automotive industry was the single largest revenue contributor to this market in 2014 with %.
Lower fuel price has improved consumer spending and has led to more discretionary spending.
Asia-Pacific continues to shift market away from Europe and North America.
Although the US market has stabilized to some extent, Asia-Pacific, particularly India and China, continues to take market share away from the developed economies.
The preference is for automated solutions.
Improving the quality of management programs, due to rising concerns about maximizing productivity and product quality, is seeing growing adoption of fully-automated material testing systems.
New materials create new opportunities.
Material test equipment plays a critical role in material technology research and leads to the emergence of light substitute materials, such as composites, smart materials, and biomaterials.

Market Definitions
Material or mechanical testing refers to a number of techniques that are employed to determine the physical properties of materials or components. Quality control procedures require materials to be tested for hardness, creep, torsion, fatigue, strength, tension, and compression. The testing techniques examined in this research service can be termed as destructive testing. The application of such testing techniques has become increasingly inherent within all manufacturing processes. Materials that undergo mechanical testing include: ferrous and non-ferrous metals, plastics, composites, ceramics, rubber, glass, paper, wool, cement, asphalt, wood, stone, and many others.

For the purpose of this study, the material testing equipment market has been segmented into four product types:
- Universal testing machines
- Servohydraulic testing machines
- Hardness test equipment
- Impact test equipment

Universal Testing Machines
Universal testing machines (UTMs) include versatile mechanical testing equipment used to subject a material sample or structure to either tension or compression for the purpose of experimentally determining certain engineering characteristics or mechanical properties. These properties typically include yield strength, ultimate or failure strength, or the stiffness and ductility of a material. Some of the common tests that are done in a UTM are tensile tests, flexural tests, compression tests, and shear tests. There are two types of UTMs:

- Electromechanical/Screw-driven testers
- Static hydraulic testers

Servohydraulic Testing Machines
A servohydraulic testing machine is used for dynamic or fatigue testing. Tests include low-cycle and highcycle fatigue testing and fracture toughness, among others. The servohydraulic testing machine consists of an actuator that is operated and hydraulically-fitted into a load frame that has high stiffnes to apply the load to the specimen. A servohydraulic testing machine consists of a moving element, such as a crosshead, that is driven hydraulically to provide tension and compression forces against a fixed reactor.
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