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Research analysis on the global mechanical test equipment market identifies that the rising investments in the aerospace sector in India will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will grow at a CAGR of nearly 6% by 2021. Increasing population, growth in disposable income, and rapid urbanization are fueling the growth of the aviation sector in India. The growth in air traffic in India has driven the demand for new aircrafts for both domestic and international travel. The transportation of goods to different parts of the world through air cargo also propels the growth of the aerospace sector in India. To encourage the growth of the sector, the government of India recently raised the FDI limit to 100%. Such investments in the aviation sector will positively influence the need for mechanical test equipment, subsequently fueling market growth.
The growth of the construction sector is one of the major trends that will contribute to the growth of this market in the forthcoming years. Metals like steel and iron, play a significant role in the construction sector and there is a need for using better quality products for infrastructure development for extended life. Since the need for durability, reliability, and safety of materials used in construction processes increases the utilization of mechanical test equipment, the growth of the construction sector will drive the growth of this global market.
The mechanical test equipment market consists of numerous global and local vendors who provide a wide range of products for testing various parameters of materials. Many local and regional vendors are offering application-specific products for different end-users. The local vendors are increasingly finding it difficult to compete with international vendors based on quality, durability, reliability, and technological innovations.
The leading vendors in the market are ?
The other prominent vendors in the market are AMETEK, Buehler, Emerson, Hegewald & Peschke, Hung Ta Instrument, Shanghai Hualong Test Instruments, TA Instruments, Tinius Olsen, and Torontech.
During 2016, the non-destructive equipment segment accounted for the major shares of the mechanical test equipment market. Factors such as the increased usage of non-destructive equipment in manufacturing, fabrication, and in-service inspections to control manufacturing processes will contribute to the growth of this industry segment in the coming years.
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the mechanical test equipment market throughout the forecast period. The increased demand from the automotive, plastic, and construction sectors and the rising investments in these industries, will drive the growth of the market in this region.
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The mechanical test equipment is used to measure the elastic and inelastic behavior of materials when an external force is applied. The equipment helps in determining the characteristics of materials and determines if its suitable for the intended application. This upcoming market research report on the global mechanical test equipment market is an integral part of Technavio's heavy industry portfolio and offers insights into niche segments like the test and measurement sector.
The market research experts at Technavio consider the market forecast, market size, and growing demand for various test and measurement products and services, and offers an all-inclusive picture of the global mechanical test equipment market for the estimated period of 2017-2021. Additionally, our research practices help clients develop active growth strategies and keep pace with the frequently changing market landscape.
According to our market research professionals, increasing demand for higher quality and safer goods by end users and the development of infrastructure in emerging economies may influence the demand for mechanical test equipment in the coming years. This upcoming market research report on the global mechanical test equipment market also covers vendors like Illinois Tool Works, MTS Systems, Zwick Roell, Hung Ta, Torontech Group International, Shimadzu, INSTRON, Hegewald & Peschke, AMETEK, CIMACH, Tinius Olsen, Shanghai Hualong Test Instruments, Applied Test Systems, and ElectroForce Systems. Furthermore, to offer clients the scope to identify probable market opportunities and expand in niche markets, this industry report on the global mechanical test equipment market also covers geographies like the Americas, APAC, and EMEA.
The upcoming industry research report for global mechanical test equipment market also categorizes the key drivers, major trends, as well as the constraints that the test and measurement sector currently experiences. It also presents insights into the rapidly changing competitive scenario to give clients a realistic picture of the forthcoming events within the heavy industry. Technavio also provides deep-dive market assessments into the sectors such as unit operations and construction.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by equipment
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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