North America Material Testing Market Size By Material(Metal, Plastics, Rubber and Elastomer, Ceramics and Composites, and Others), By End-User(Automotive, Educational Institutions, Construction, Aerospace & Defense, Medical Devices Power, Power, and Others.), By Geographic Scope And Forecast
Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
North America Material Testing Market Size By Material(Metal, Plastics, Rubber and Elastomer, Ceramics and Composites, and Others), By End-User(Automotive, Educational Institutions, Construction, Aerospace & Defense, Medical Devices Power, Power, and Others.), By Geographic Scope And Forecast
North America Material Testing Market Size And Forecast
North America Material Testing Market was valued at USD 166.40 Million in 2020 and is projected to reach USD 248.13 Million by 2028, growing at a CAGR of 5.39% from 2021 to 2028.
The escalating focus on the quality of good and the increase in importance to meet manufacturing standards such as ASTM and ISO are the key factors that have boosted the growth of the material testing market. The North America report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Material Testing?
Material Testing is a technique for analyzing the quality of the product with respect to material, its functioning, safety, reliability and various physical and chemical properties. It is performed for range of the applications for gaining insight related to tested materials, prototypes or product samples. The material testing measures the characteristics as well as behavior of the metals and non-metals, when exposed to various external conditions. It includes various methodologies for analyzing and investigating the properties of the materials. These material testing is in accordance with the ISO, ASTM, and other standards.
The material testing includes various mechanical, physical and chemical testing methods for examining tensile strength, compressive strength, aging characters or chemical composition, bending strength, and many other characteristics. This technique is used across manufacturing, research and development and educational institutes for processing the materials. The advantage of the material testing is it reduces any probability of the errors or defects, which may arise at any part of the manufacturing.
North America Material Testing Market Overview
The escalating focus on the quality of good and the increase in importance to meet manufacturing standards such as ASTM and ISO are the key factors that have boosted the growth of the material testing market. ASTM and ISO standards are the manuals detailing specific requirements for the quality and appropriate use of materials from a wide variety of sectors such as metals, paints, plastics, textiles, petroleum, and consumer goods. These standards are widely used by scientists, researchers, engineers, architects, and government departments to ensure the quality and durability of materials. Shifting focus of the manufacturers towards the efficient and advanced machineries is further driving the demand for the material testing. In addition to this, the market is projected to witness strong growth due to growing industrialization and increasing construction projects in the region.
However, wastage of resources in damaging testing and volatility in the prices are the factors that are restraining the growth pf the market. Nevertheless, the growing demand for material testing equipment such as universal testing machines, hardness test equipment, servo-hydraulic testing machine, and impact test equipment and their widespread use in various industries such as automotive, aerospace & defense, medical, and food packaging industry can create a lucrative growth opportunity to the market.
North America Material Testing MarketSegmentation Analysis
The North America Material Testing Market is segmented on the basis of Material, End-User, and Geography.
North America Material Testing Market by Material
- Metal
- Plastics
- Rubber and Elastomer
- Ceramics and Composites
- Others
To Get Summarized Market Report By Material-
Based on Material, the market is bifurcated into Metal, Plastics, Rubber and Elastomer, Ceramics and Composites, and Others. This segment of the Material Testing market is dominated by a Metal segment. Expanding application of different metals across automotive, construction and aerospace industry is driving the demand for the metal testing. In addition to this, growing demand for new metals such as advanced high strength steel (AHSS), aluminum alloys, magnesium alloys and others in the automotive vehicles to improve efficiency and curb weight of the vehicles is further supporting the growth of the market.
North America Material Testing Market by End-User
- Automotive
- Educational Institutions
- Construction
- Aerospace & Defense
- Medical Devices Power
- Power
- Others
To Get Summarized Market Report By End-User-
On the basis of End-User, the North America Material Testing Market has been segmented into Automotive, Educational Institutions, Construction, Aerospace & Defense, Medical Devices Power, Power, and Others. Construction segment accounted for the largest market share in 2020 and is projected to grow at a CAGR of 5.22% during the forecast period. Increasing pressure on the construction companies for offering high quality construction materials and products at a cheaper price is driving the demand for the testing of new materials. Stringent building standards imposed to maintain safety and durability of the infrastructure is another factor favoring the market growth.
North America Material Testing Market by Geography
- U.S.
- Canada
- Mexico
To Get Summarized Market Report By Geography-
On the basis of Geography, the North America Material Testing Market is classified into U.S., Canada, and Mexico. U.S. is expected to hold the largest market share of the Material Testing Market over the forecast period followed by Canada. The US government is rolling out favorable initiatives to boost the construction sector through investment, is anticipated to push the market growth. The emergence of new materials such as durable concrete, self–compacting concrete, air cleaning bricks, and various eco-friendly materials, creates the potential for material testing.
Key Players in the North America Material Testing Market
The “North America Material Testing Market” study report will provide a valuable insight with an emphasis on the North America market. The major players in the market are WPS Inc., Intertek Group Plc, Applus, Eurofins Scientific, Micom Inc., Applied Technical Services, and the rest others.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
Key Developments in North America Material Testing Market
Company Name | Key Developments | Description |
|---|---|---|
| WSP Inc. | Acquisition | • WSP completes acquisition of Golder, Creating the Leading Global Environmental Consulting Firm, and Announces an Executive Leadership Appointment in Canada• The acquisition and other related transaction costs were financed using the proceeds from the Corporation’s previously closed USD 310 million private placements of subscription receipts with GIC Pte. Ltd., and British Columbia Investment Management Corporation, and new bank financing term loans |
| Eurofins Scientific | Acquisition | • Eurofins acquired MET Labs which enabled them to have a Nationally Recognized Test Laboratory as established by OHSA.• The deal was finalized between Eurofins and the JSTI Group for the acquisition of TestAmerica Environmental Services, LLC, adding 24 laboratories and 40 service centers to the Eurofins environmental testing network. |
| AMETEK | Product Launch | • AMETEK MOCON Launches New Carbon Dioxide Permeation Analyzer the MOCON PERMATRAN-C 4/30.• The new analyser was designed for labs looking to perform fast and accurate carbon dioxide transmission rate testing for quality control (QC) or R&D applications. |
North America Material Testing Market Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2017-2028 |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Million) |
| Key Companies Profiled | WPS Inc., Intertek Group Plc, Applus, Eurofins Scientific, Micom Inc., Applied Technical Services, and the rest others. |
| Segments Covered |
|
| Customization scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support
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