Tensile Testing Machine: Introduction
- Tensile testing machines are also known as universal testing machines and tension test machines. Tensile testing machine is a testing equipment used to measure the mechanical properties or tensile strength of specimens. It measures the mechanical properties of a material, or characteristics such as ultimate tensile strength, yield strength, elongation, and modulus.
- Tensile testing machines are also used to perform other tasks such as compression, cyclic, shear, flexure, bend, peel, and tear just by adding fixtures.
- The global tensile testing machine market is projected to expand at a rapid pace during the forecast period, due to increasing demand for tensile testing machines from automotive, and textile sectors.
Global Tensile Testing Machine Market: Dynamics
Global Tensile Testing Machine Market: Key Drivers and Restraint
- End-users shifting from manual tensile testing machines to automated tensile testing machines is anticipated to propel the tensile testing machine market in the next few years.
- Stringent government regulations regarding quality of tensile strength of specimens are anticipated to boost the demand for tensile testing machines in end-use industries during the forecast period.
- Growing demand for four column testing machines in automotive and textile industries is expected to boost the demand for tensile testing machines
- Increasing demand to improve the reliability, quality, and stability of products in different industries are some of the other factors projected to boost the global tensile testing machine market in the next few years.
- Focus of manufacturers on the development of tensile testing machines that comply with the required industrial standards is a major factor driving the usage of tensile testing machines. This factor is estimated to propel the market during the forecast period.
- However, high upfront costs and lack of technical skills among instructors of tensile testing machines is expected to hamper the market growth during the forecast period.
Impact of COVID-19 on the Global Tensile Testing Machine Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. The impact of COVID-19 is being absorbed in each sector of the economy, including the global manufacturing industry. This, in turn, is projected to indirectly hinder the global tensile testing machine market in the next few years.
- Disruption in the supply chain of raw materials also hampers the market. Automotive sales are most likely to decrease 14% to 22% in the U.S, China, and European markets in 2020. Some of the events in the manufacturing industry also have been postponed or cancelled due to the COVID-19 pandemic.
North America to Hold Major Share of the Global Tensile Testing Machine Market
- In terms of region, the global tensile testing machine market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global tensile testing machine market in 2019, due to presence of well-established and technologically advanced manufacturers in the region. The U.S. is a key market in North America, due to increase in investments in the automotive sector (increasing adoption and development of electric or autonomous vehicles).
- The tensile testing machine market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to rapid industrialization, development of smart factories, and advent of Industry 4.0 in manufacturing plants in the region. China is a key market in Asia Pacific.
Global Tensile Testing Machine Market: Competition Landscape
Several local, regional, and international players are active in the tensile testing machine market. Hence, the market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Rapid technological advancements have led to opportunities in the global tensile testing machine market. Market players are gradually focusing on merger and acquisition activities to develop new products and improve their existing product offerings.
Key Players Operating in the Global Tensile Testing Machine Market:
- ADMET, Inc.
- AMETEK (Lloyd)
- Applied Test Systems
- Cometech Testing Machines Co., Ltd.
- ETS Intarlaken
- FORM+TEST GmbH
- Hegewald and Peschke
- Illinois Tool Works Inc.
- JINAN SHIJIN GROUP
- Karg Industrietechnik
- Keysight Technologies
- Mecmesin Germany
- MTS Systems Corporation
- Qualitest International
- Shimadzu Corporation
- Testing Machines, Inc.
- Tinius Olsen
- Torontech Group
- WPM Werkstoffprüfsysteme Leipzig GmbH
Global Tensile Testing Machine Market: Research Scope
Global Tensile Testing Machine Market, by Product Type
- Single Column Testing Machine
- Dual Column Testing Machine
- Four Column Testing Machine
Global Tensile Testing Machine Market, by Industry
- Paper & Plastic
- Electronics & Electricals
- Aerospace Material Testing
- Construction Material Testing
- Research & Academia
Global Tensile Testing Machine Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.