Universal Testing Machine Sales to Expand 1.4X During 2019 - 2029
Industrial operators all over the world are in a constant search for machinery and equipment that are time-efficient, yet help boost productivity. This has resulted in increasing preference for multi-purpose testing machines over the traditional mechanical testing equipment that can measure only single property. In line with this preferential shift, the global revenues of universal testing machines (UTM) will surpass US$ 500 Mn by 2025. Exhibiting a moderate CAGR, sales of UTMs are likely to grow 1.4X during 2019-2029.
Frequently asked questions on global universal testing machine market
What is the growth outlook for the universal testing machine market?
Universal testing machines are used to test mechanical properties of materials, such as tensile strength, compressive strength, flexural, friction, fracture strength, hardness, fracture resistance, creep rate, and others. Therefore, manufacturers prefer UTMs instead of instruments that can measure only one mechanical property. Increasing production of materials such as glass, metal, paper & plastic, rubber & ceramic, cement & concrete, automotive materials, and wood products is estimated to drive market growth in the near future.
Which application area holds potential growth opportunities for market players?
While textile industry continues to influence growth strategies, as it holds a major share in the universal testing machine market, growing demand for universal testing machines from automotive and paper & plastic industries is projected to boost the market share of these sectors in the near future.
Which end users will be the key contributors to growth of universal testing machine market?
Automotive industry remains the preeminent revenue contributor to UTM market. The industry demands UTM for measuring yield, tensile, fatigue, and compression strengths of automotive parts, in addition to testing of seating textiles, door trim panels, rubber bumpers, and seating foam. Increasing adoption by construction and textile industries will be a major highlight of UTM market in the near future.
What is the degree of competition in the universal testing machine market?
The universal testing machine market shows a perfect competition structure, with a good number of global and regional market players. In the current scenario, industry leaders such as Instron (Illinois Tool Works), AMETEK, Shimadzu Corporation, Keysight Technologies, Zwick/Roell, and MTS Systems Corporation collectively hold more than one-fourth of the total revenue share.
Which region will lead the global sales of universal testing machines?
North America remains in the forefront of the universal testing machine market, with high demand from end-use industries. Moreover, end users of universal testing machines are engaging in expansions, collaborations, and key strategic developments to expand their foothold in this region.
Which trend would be influencing sales of universal testing machine sales over the following years?
Several end users, particularly facing a budget constraint, prefer retrofitting of their older universal testing machines rather than investing in new machines altogether. Upgrades in terms of functions and supplies allows for remarkable cost savings. A number of companies are thus offering universal testing machine retrofitting packages, which would influence new machine sales.
Four Column Testing Machine Remains in Demand
Owing to their simple test fixture and minimum sample machining requirement, four column testing machines continue to define manufacturers’ bottom lines. As four column testing machines account for nearly half of market revenues, manufacturers are significantly focused on this product category. However, four column testing machines will see a dip in their demand due to their high upfront costs, thus, are likely to lose share to other UTMs - dual and single column testing machines through 2029.
Developed Regional Markets Leading the Way
The worldwide adoption of UTMs is primarily concentrated at the developed regions of North America and Europe, which collectively account for around 45% of total sales. The US and the UK are spearheading the regional markets respectively, with the market in former reflecting the most worthwhile sales opportunities. While these developed regional markets continue to lead the pack in the global landscape, market players are also eyeing growth potential in East Asia, owing to the thriving end-use industries – construction, automotive, and electronics & electrical.
Attracting Larger Customer Base with Application-centric Approach
Universal testing machines are finding utilization in several areas including, wood product testing, metal testing, and glass manufacturing. This increasing demand for diverse material testing is accenting for specific UTMs, which is further spurring manufacturers to develop UTMs wide a measuring range. Market players, therefore, must drive their focus on the application-centric approach in order to expand their global customer base.
Four column testing machine accounts for highest share
Dual column testing machine to gain momentum
High adoption in automotive
Demand from textile to pick pace
How Growth will Unfold
The automotive industry will remain the key contributor to the global revenues of universal testing machines throughout the forecast period. Used to determine mechanical test data including, design stiffness, and material rigidity, a significant portion of stakeholders’ investments will remain channelized towards this end-use industry. Following the same scenario, adoption of UTMs in the textile and paper & plastics industries is expected to rise rapidly, accenting collective revenues worth around US$ 200 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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Universal Testing Machine Market Analysis 2019-2029
A recent market study published by FMI on the universal testing machine 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 universal testing machine market, the growth prospects of the market are obtained with maximum precision.
Universal Testing Machine Market Taxonomy
The global universal testing machine market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Single Column Testing Machines
- Dual Column Testing Machines
- Four Column Testing Machines
- Paper & Plastic
- Electronics & Electricals
- Aerospace Material Testing
- Construction Material Testing
- Research & Academia
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report starts with the executive summary of the universal testing machine market, which includes a summary of the key findings and statistics. It also includes the demand & supply-side trends pertaining to the universal testing machine market.
Readers can find the definition and a detailed taxonomy of the universal testing machine market in this chapter, which will help them understand basic information about the market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the universal testing machine market report.
The universal testing machine 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 universal testing machine market in the period 2019-2029. This chapter includes a detailed analysis of the historical universal testing machine 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 universal testing machine market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the universal testing machine market.
This chapter explains key macroeconomic factors that are expected to influence the growth of the universal testing machine market over the forecast period. Along with macroeconomic factors, this section also highlights the value chain, forecast factors, and growth outlook for the universal testing machine 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 universal testing machine market is segmented into single column testing machines, double column testing machines, and four column testing machines. In this chapter, readers can find information about key trends and developments in the universal testing machine market and market attractiveness analysis based on product type.
Based on application, the universal testing machine market is segmented into automotive, paper & plastic, textiles, electronics & electrical, aerospace material testing, construction material testing, research & academia, and others. In this chapter, readers can find information about key trends and developments in the universal testing machine market and market attractiveness analysis based on end-use.
This chapter explains how the universal testing machine market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, the Middle East & Africa, and Emerging Countries.
This chapter includes a detailed analysis of the growth of the North America universal testing machine 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 universal testing machine 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 universal testing machine 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, Indonesia, Thailand, Malaysia, and Rest of South Asia are the prime subjects of assessment to obtain the growth prospects of the South Asia universal testing machine market. Readers can find detailed information about the growth parameters of the South Asia universal testing machine market during the forecast period of 2019-2029.
This chapter highlights the growth of the universal testing machine 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 universal testing machine market in East Asia.
This chapter highlights the growth of the universal testing machine market in the Middle East by focusing on GCC Countries, Northern Africa, South Africa, Turkey, and Rest of Middle East & Africa. This section also helps readers understand key factors that are responsible for the growth of the universal testing machine market in the Middle East & Africa.
This chapter provides information about how the universal testing machine market will grow in major countries in the Oceania region such as Australia and New Zealand during the forecast period of 2019-2029.
This section highlights the growth prospects of the universal testing machine market for emerging markets such as India, Northern Africa, and China.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the universal testing machine market, along with their market presence analysis by region and product portfolio.
Some of the market players featured in the report are Instron (Illinois Tool Works), AMETEK, Shimadzu Corporation, Keysight Technologies, Zwick/Roell, and MTS Systems Corporation, and others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the universal testing machine 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 universal testing machine market.
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