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Tensile Testing Machine Market

Market Insights on Tensile Testing Machine covering sales outlook, demand forecast & up-to-date key trends

Tensile Testing Machine Market By Target Material (Rubber, Plastic, Metal), Load Capacity (Up to 1 kN, 1 kN to 10 kN, 10 kN to 300 kN and More than 300 kN), End Use Industry (Rubber, Automotive, Aerospace and Defense, General Fabrication, Textile, Plastic, Packaging, Paper and Pulp, Auxiliary Manufacturing) & Region - Forecast 2022-2032

Tensile Testing Machine Market Overview

Global Tensile Testing Machine demand is anticipated to be valued at US$ 7.5 Billion in 2022, forecast to grow at a CAGR of 4.81% to be valued at US$ 12 Billion from 2022 to 2032. The transition of end-users from manual tensile testing machines to automated tensile testing machines is expected to drive the tensile testing machine market in the coming years.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 7.2 Billion

Expected Market Value (2022)

US$ 7.5 Billion

Anticipated Forecast Value (2032)

US$ 12 Billion

Projected Growth Rate (2022-2032)

4.81% CAGR

Tensile testing machines are also known as tension test machines and universal testing machines. A tensile testing machine is a piece of testing equipment that is used to determine the mechanical properties or tensile strength of specimens. It assesses a material's mechanical properties, or characteristics such as ultimate tensile strength, yield strength, elongation, and modulus.

By simply adding fixtures, tensile testing machines can also perform compression, cyclic, shear, flexure, bend, peel, and tear tests. Due to increased demand for tensile testing machines from the automotive and textile sectors, the global tensile testing machine market is expected to expand at a rapid pace during the forecast period.

Which are Some Prominent Drivers Spearheading Tensile Testing Machine Market Growth?

The global tensile testing machine market is rapidly expanding. Factors such as the growing need for strict quality control measures in manufacturing units, the rise in demand for tensile testing in the construction and automotive sectors, and the rise in demand for hydraulic equipment are all driving the global tensile testing machine market forward.

Growing demands in several industries to improve the stability, quality, and reliability of products are some of the key factors expected to drive market growth. Furthermore, stringent regulations governing the tensile strength of materials used in construction, automotive, aerospace, and other industries are fueling market growth.

Furthermore, many end-users now prefer automatic tensile testing machines, which are fueling market growth. The rapidly expanding automotive, construction, and packaging industries, on the other hand, is expected to purchase a large number of tensile testing machines during the forecast period.

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What are the Challenges Faced by the Tensile Testing Machine Industry?

High upfront costs and a lack of technical skills among tensile testing machine instructors are expected to stymie market growth during the forecast period.

Why is Asia-Pacific emerging as an Opportunistic Tensile Testing Machine Market?

Asia Pacific was the largest market for Tensile Testing Machine and the trend is expected during the forecast period, the Asia Pacific tensile testing machine market is expected to expand rapidly. This can be attributed to rapid industrialization, the development of smart factories, and the implementation of Industry 4.0 in the region's manufacturing plants. China is an important market in Asia Pacific.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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How is North America Contributing to Growth of the Tensile Testing Machine Market?

According to Future Market Insights, during the forecast period, North America is expected to account for the lion's share of the global tensile testing machine market. Factors such as strict specimen quality regulations, a rapidly expanding automotive industry, and an increase in preference for the automatic tensile testing machine are driving the growth of the market in this region.

Market Competition

The tensile testing machine market is crowded with local, regional, and international players. As a result, the market is fairly fragmented, and suppliers' bargaining power is limited. The level of competition among market participants is also high. Rapid technological advancements have created opportunities in the global market for tensile testing machines.

Market participants are gradually shifting their focus to merger and acquisition activities in order to develop new products and improve their existing product offerings. Some of the key participants present in the global Tensile Testing Machine market include Shimadzu Corporation ADMET, Inc., Testing Machines, Inc., MTS Systems Corporation, Illinois Tool Works Inc., Cometech Testing Machines Co., Ltd., FORM+TEST GmbH, Mecmesin Germany, Karg Industrietechnik and WPM Werkstoffprüfsysteme Leipzig GmbH among others.

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Scope of Report

Report Attribute

Details

Growth Rate

CAGR of 4.81% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Target Material
  • Load Capacity
  • End Use Industry
  • Loading Type
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Russia
  • Poland
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Shimadzu Corporation
  • ADMET, Inc.
  • Testing Machines, Inc.
  • MTS Systems Corporation
  • Illinois Tool Works Inc.
  • Cometech Testing Machines Co., Ltd.
  • FORM+TEST GmbH
  • Mecmesin Germany
  • Karg Industrietechnik
  • WPM Werkstoffprüfsysteme Leipzig GmbH

Customization

Available Upon Request

Key Segments Profiled in the Tensile Testing Machine Industry Survey

Target Material:

  • Rubber Tensile Testing Machine
  • Plastic Tensile Testing Machine
  • Metal Tensile Testing Machine

Load Capacity:

  • Tensile Testing Machine Up to 1 kN
  • Tensile Testing Machine from 1 kN to 10 kN
  • Tensile Testing Machine from 10 kN to 300 kN
  • Tensile Testing Machine More than 300 kN

End Use Industry:

  • Tensile Testing Machine for the Rubber Industry
  • Tensile Testing Machine for the Automotive Industry
  • Tensile Testing Machine for Aerospace and Defense
  • Tensile Testing Machine for General Fabrication
  • Tensile Testing Machine for Textiles
  • Tensile Testing Machine for Plastic Manufacturing
  • Tensile Testing Machine for Packaging
  • Tensile Testing Machine for Paper and Pulp
  • Tensile Testing Machine for Auxiliary Manufacturing

Loading Type:

  • Screw driven Tensile Testing Machine
  • Hydraulic Tensile Testing Machine

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Tensile Testing Machine market to expand at a 4.81% value CAGR by 2032.

Asia Pacific is expected to be the most opportunistic Tensile Testing Machine market.

Shimadzu Corporation ADMET, Inc. and Testing Machines, Inc. are some prominent Tensile Testing Machine manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Tensile Testing Machine Market