Concrete Tester Market to Witness 1.4X Revenue Growth during 2019-2029
Exhibiting a CAGR of about 4% during 2019 – 2029, the worldwide sales of concrete testers will observe nearly 1.4X expansion. Significant hike in construction and infrastructure spending continues to translate into moderate growth in demand for concrete testers. The demand growth is also receiving an impetus from the resurging mining industry and stringent regulatory framework, such as American Association of State Highway and Transportation Officials (AASHTO), and American Society for Testing and Materials (ASTM).
FREQUENTLY ASKED QUESTIONS ABOUT Concrete Tester Market
How much will the concrete tester market worth in the future?
Future Market Insights projected the global market for concrete tester to reach US$ 500 Mn by the end of 2029, registering a CAGR of 3.9% throughout the forecast period 2019-2029.
How are machine learning and artificial intelligence disrupting market prospects?
Implementation of artificial intelligence and machine learning in concrete tester to speed up the testing process and offer accurate real-time monitoring will open new avenues of revenue growth. Moreover, proliferation of these technologies is proven to have a high return on investment.
Which application is expected to have the maximum growth potential for the market players?
Universal testing machine (UTM) is expected to create the largest growth opportunities due to an increase in the requirement of UTM from the construction, defense, and automobile manufacturing sectors. UTMs do not exhibit the failure point of instance objects subjected to several industries.
Will the demand for UTM continue to grow in the next 5 years?
Demand for UTM will decrease in the following years as their operation requires additional certifications, which will incur additional expenses. Hence, flexure testing and fresh concrete testing are expected to exhibit increased demand in the future.
Which region is expected to hold the largest revenue share in the concrete tester market?
North America will continue to dominate the global concrete testers market with a 25% revenue share. Gains remain driven by emerging construction projects in the United States.
Which growth strategies should key players in the concrete tester market seek to use?
Manufacturers are investing in developing portable and wireless concrete testers for on-site testing of concrete strength. In addition, adoption of stringent regulations for infrastructure safety in various regions is expected to support the market growth.
Demand Upswing for Universal Testing Machines
Demand for universal testing machines continues to swell owing to their versatility quotient and will surpass US$ 200 Mn revenues in 2025. Despite significant contribution to market revenues, sales of universal testing machines will see a slight decline towards the end of 2029 due to their high initial prices. Accounting for around a fourth of total sales, non-destructive (NDT) machines are also witnessing noteworthy traction. However, their demand will decrease in the following years, as their operation requires additional certifications, which incur additional expenses. As cost-efficiency and convenience top the list of customers, flexure testing and fresh concrete testing machines exhibit unprecedented demand growth.
Developed Markets Hold Collective Share of 50%
Currently accounting for nearly 26% of market revenue, North America continues to lead the global concrete tester market through 2029. The growth of the regional market is primarily driven by surging residential projects in the US, which include building permits, housing starts, and housing completions. The Europe concrete tester market is also capturing notable stakeholders’ investment, majorly spearheaded by Germany and Spain. However, this report emphasizes lucrative growth outlook in Latin America and Middle East & Africa (MEA) owing to increasing mining exploration and construction expenditure respectively.
Portability Feature Sought-after
Conventionally, the properties of in-place concrete have been tested by transporting field-cured cylinders to a lab where they undergo a break test in a compression machine. Methods like these result in subsequent delays, which further cause delays in project schedules. Manufacturers must develop portable and wireless concrete testers for on-site testing of concrete strength to address the situation. These highly convenient concrete testers also reduce the dependence on third-party labs.
Surging adoption of universal testing machine
Steady sales of NDT machine
Growing application in on-site
Increasing usage in off-site
Construction remains top adopter
Demand from infrastructure to grow moderately
How Growth will Unfold
Market players continue to target the construction and infrastructure sectors on the back of increasing construction of civil facilities and renovation projects in developing economies. Sales of concrete testers in both the end-use categories collectively hold nearly 50% share and will reap profits worth of about US$ 200 Mn by 2020 end. On the flip side, the mining and railway sectors also represent opportunistic growth potential, with sales of concrete testers in the latter to cross US$100 Mn in 2029.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Concrete Tester Market Analysis 2019-2029
A recent market study published by FMI on the Concrete Tester market includes global industry analysis for 2014-2018 & opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of the Concrete Tester market, the growth prospects of the market are obtained with maximum precision.
Concrete Testers Market Taxonomy
The global Concrete Tester market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- NDT Machine
- Universal Testing Machine
- Fresh Concrete Testing
- Flexure Testing Machine
- Research & Academics
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
The report starts with the executive summary of the Concrete Tester market, which includes a summary of the key findings and statistics. It also includes the demand & supply-side trends pertaining to the Concrete Tester market.
Readers can find the definition and a detailed taxonomy of the Concrete Tester market in this chapter, which will help them understand basic information about the Concrete Tester market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the Concrete Tester market report.
The Concrete Tester market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are also provided in this section.
This section includes factors that have emerged as key success factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the Concrete Tester market in the period 2019-2029. This chapter includes a detailed analysis of the historical Concrete Tester market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year, and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the Concrete Tester market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the Concrete Tester market.
This chapter explains key macro-economic factors that are expected to influence the growth of the Concrete Tester market over the forecast period. Along with macroeconomic factors, this section also highlights the value chain, forecast factors, and top company’s historical growth outlook for the Concrete Tester market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the section.
Based on Product Type, the Concrete Tester market is segmented into NDT Machine, Universal Testing Machine, Fresh Concrete Testing, Flexure Testing Machine, and Others. In this chapter, readers can find information about key trends and developments in the Concrete Tester market and market attractiveness analysis based on Product.
Based on application, the Concrete Tester market is segmented into On-Site and Off-Site. In this chapter, readers can find information about key trends and developments in the Concrete Tester market and market attractiveness analysis based on application.
This chapter provides details about the Concrete Tester market based on End Use Industry, and has been classified into Construction, Infrastructure, Mining, Railways, Research & Academics, and Others. In this chapter, readers can understand the market attractiveness analysis based on end-use industry.
This chapter explains how the Concrete Tester market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, the Middle East & Africa (MEA), and Emerging Countries.
This chapter includes a detailed analysis of the growth of the North America Concrete Tester market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on segments and countries in North America.
This chapter provides the growth scenario of the Concrete Tester market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, the assessment of the market across target segments has been provided.
Important growth prospects of the Concrete Tester market in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the Rest of Europe, are included in this chapter.
In this chapter, India, Malaysia, Thailand, Indonesia, and Rest of South Asia are the prime subjects of assessment to obtain the growth prospects of the South Asia Concrete Tester market. Readers can find detailed information about the growth parameters of the South Asia Concrete Tester market during the forecast period of 2019-2029.
This chapter highlights the growth of the Concrete Tester market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand key factors that are responsible for the growth of the Concrete Tester market in East Asia.
This chapter highlights the growth of the Concrete Tester market in Oceania by focusing on Australia and New Zealand. This section also helps readers understand key factors that are responsible for the growth of the Concrete Tester market in Oceania.
This chapter provides information about how the Concrete Tester market will grow in major countries in the MEA region such as Northern Africa, GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period of 2019-2029.
This section highlights the growth prospects of the Concrete Tester market for emerging markets such as India, Mexico, and GCC Countries.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the Concrete Tester market, along with their market presence analysis by region and product portfolio.
Some of the market players featured in the report are MTS Systems Corporation, Humboldt Mfg. Co., Global Gilson, Inc, Cooper Technologies Inc., Canopus Instruments, MATEST S.p.A., Forney, EIE Instruments, PCE Deutschland GmbH and others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the Concrete Tester market report.
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the Concrete Tester market.
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