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Expanding end-user application opportunities seems to suggest a strong revival in the saturated mechanical test equipment market. The demand for this equipment is no longer confined to traditional end-user industries such as automotive, aerospace, metals, plastics and ceramics but is rapidly growing in a wide range of new and relatively unexplored areas.
New analysis from Frost & Sullivan World Mechanical Test Equipment Market, finds that these markets earned revenues of $627.4 million in 2005 and is likely to reach $811.7 million in 2012.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the World Mechanical Test Equipment Market, then send an e-mail to Tori Foster, Corporate Communications, at tori.foster[.]frost.com with your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
“Emerging end-use applications such as bio-medical engineering, biotechnology, semiconductors, micro-machining and medical devices offer promising opportunities and are expected to significantly enhance the growth potential of the mechanical test equipment market in future,” says Frost & Sullivan Research Analyst S. Vidyasankar.
In medical laboratories, for instance, mechanical test equipment is used to assess the strength of artificial knee joints, while servohydraulic testing machines are extensively used to test micro-machined components for fatigue or endurance.
Exciting growth opportunities also exist in Asia Pacific and Eastern Europe due to increased industrial activity in these regions. Due to undeniable cost advantages offered by China, India, South Korea, Hungary, Poland and Romania, among others, these countries have become a preferred destination for relocation of manufacturing activities from the more developed markets of North America and Western Europe.
This trend has impacted the mechanical test equipment market by causing a paradigm shift in demand and creating new markets that hold considerable growth potential. As a result, test equipment vendors are now strongly focused on expanding their presence in these developing markets either by establishing branches or by building a dealership/distribution network.
“Demand for mechanical test equipment is poised to grow exponentially, with these emerging markets continuing to attract considerable investments in infrastructure and industrial development by local and multinational organizations,” says Vidyasankar. “The continued growth of industrial activity in these regions, along with increased knowledge and awareness regarding mechanical testing is expected to drive market growth.”
However, the growing move toward nondestructive testing (NDT) poses a considerable challenge to equipment vendors. With NDT techniques gaining in acceptance and the availability of various kinds of simulation and analysis software in the market, mechanical or destructive testing runs the risk of being pushed into the background.
Nevertheless, the focus on quality control and the need to adhere to industry standards and specifications such as ASTM and ISO make it imperative to perform destructive testing, thereby ensuring its sustained demand. Moreover, the testing industry is largely a conservative one, and the chances of mechanical testing getting completely replaced by NDT techniques, despite their growing popularity, seem remote.
“Destructive or mechanical testing is highly essential to understand the failure mechanism of various components and is unlikely to be replaced entirely by NDT,” says Vidyasankar. “Industry specifications and standards will continue to drive the demand for mechanical test equipment in the years to come.”
World Mechanical Test Equipment Market, part of the General Purpose Test Subscription, provides a comprehensive view of the mechanical testing industry along with revenue forecasts for various mechanical testing techniques, latest technological developments, as well as key market trends. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following technologies: universal testing machines, servohydraulic testing machines, hardness test equipment, and impact test equipment. Interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
World Mechanical Test Equipment Market
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