Composites Testing Equipment Market is Expected to Register a Considerable Growth
May 27, 2022
Stratview Research releases a new report on the Composites Testing Equipment Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Composites Testing Equipment Market Insights:
The global composites testing equipment market is projected to witness a healthy CAGR of 6.7% over the next five years, driven by increasing production rates of the best-selling aircraft coupled with increasing penetration for composites, development of new composite applications in different industries, increasing demand for quality products, increasing research & development activities, increasing demand for the light-weight materials, and introduction of stringent regulations.
The Composites Testing Equipment Market size depends upon several factors that have direct or indirect influence on the demand and supply chain. The report published by Stratview Research throws light on the vital extracts of many such factors derived using different types of analysis like supply chain analysis, etc. These methods help in analysing the core strength of the companies, identifying their growth strategies, recognising their gaps as well as opportunities to lay out an effective roadmap which leads to higher profitability.
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Key Players
The report also highlights the topmost linchpins active in the market. According to the list, here are few key players mentioned in the report –
- General Electric Company
- Olympus Corporation
- Sonatest Ltd.
- Mistras Group
- Yxlon International GmbH
- Zetec, Inc.
- Ashtead Technology Inc.
- Bosello High Technology SRL
Market Segmentation:
The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows the businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.
Composites Testing Equipment Market Share by Composite Type
Based on the composite type, the global composites testing equipment market is segmented as polymer matrix composites, ceramic matrix composites, and metal matrix composites. Polymer matrix composite generates the highest demand for testing equipment and is expected to remain the largest composite type over the next five years, driven by the dominance of polymer matrix composites in various end-use industries.
Composites Testing Equipment Market Share by Testing Type
The global composites testing equipment market is segmented based on the testing type as destructive and non-destructive. Destructive testing equipment is further segmented into impact testing, static testing, dynamic testing, and others. Similarly, non-destructive testing equipment is further segmented into radiography testing equipment, shearography testing equipment, ultrasonic inspection equipment, visual inspection equipment, eddy-current testing equipment, thermography testing equipment, and others. Non-destructive testing equipment is expected to remain the most dominant over the next five years, driven by its higher usage in a wide array of end-use industries ranging from aerospace & defense, transportation, to wind energy.
Regional Insights
North America holds the highest share in the global composite testing equipment market, driven by the USA. The region is the manufacturing capital of the advanced composites industry with the presence of all the major players. This region also holds healthy share in the other composite markets including wind energy, transportation, building & construction, and marine. The continuous shift of automobile manufacturing plants to Mexico is likely to create a strong demand for composites as well as the testing equipment.
Report Customization Options
Stratview Research offers one of the following free customization options to the users along with this detailed report:
Company Profiling
- Detailed brief of additional market players.
- SWOT analysis of key players.
- Competitive Benchmarking
Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.