- Adhesion Testing
- Bending / Flexural Testing
- Coefficient of Friction Testing
- Compression Testing
- Others
Material Testing Market was valued at USD 633.7 Million in 2022 and is anticipated to grow at USD 785.8 Million till 2029 recording a CAGR of 4.5% from 2023 - 2029. The global material testing market. owing to increasing requirements related to manufacturing standards for all fields and increasing educational research activities. Moreover, increasing the adoption of material testing by using different materials such as alloys, polymers, rubber, metals and using different types of raw materials, and testing their mechanical strength to improve and maintain the quality are driving the growth of this industry market. However, the high cost of equipment of material testing and the lack of skilled operators may hinder the market growth.
In August 2019, MTS appointed new distributors in Thailand, Central America and Eastern Europe and in November 2019, MTS Expands Presence in Wind Energy and Aerospace Markets through acquisition of Danish engineering firm.
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Material testing has wide range applications such as aerospace & defense, automotive, educational institution, and construction areas. Development of smart cities, fast urbanization and progress in infrastructural developments in emerging economies are some of the factors for growth of this industry market. Increase in technological advancement in material science is the drive the growth of this industry market over forecast period.
The material testing market size was valued at USD 633.7 million in 2022
The material testing market key players are: MTS Systems Corporation Olympus Corporation Mistras Group, Inc. Shimadzu Corporation Zwick Roell Shimadzu Tinius Olsen Moog Inc. Ametek Inc. CMT Equipments Applied Test Systems Denison Mayes Group
The material testing market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.