Universal Testing Machine Market to Grow at Double-Digit CAGR, Driven by Rising Demand Across Multiple Industries

Universal Testing Machine Market
Universal Testing Machine Market

The global Universal Testing Machine (UTM) market is poised for significant growth, registering a double-digit CAGR from 2019 to 2029. This growth is driven by the machines’ simple test fixture design and minimal sample machining requirements. UTMs are increasingly being used across various industries, including wood product testing, metal testing, and glass manufacturing, due to the growing demand for diverse material testing. As a result, manufacturers are focused on developing UTMs with wider measuring ranges to cater to these evolving needs.

The automotive industry is expected to remain the dominant contributor to UTM market revenues throughout the forecast period, as UTMs are essential for determining mechanical test data such as design stiffness and material rigidity. Additionally, growing adoption of UTMs in the textile, paper, and plastics industries is set to drive a rise in market revenues, which are projected to reach approximately USD 644 million by 2029.

Universal Testing Machine – Key Takeaways

  • The global universal testing machines market is forecasted to surpass a valuation of US$ 590 M by the end of 2029.
  • Based on end-use, textile and paper & plastics industries are expected to cumulatively account for a revenue of more than US$ 200 Mn by the end of the forecast period.
  • By product, four-column universal testing machines are currently the most sought out types, on the back of simple test fixtures and minimum sample machining requirements.
  • Single column universal testing machines are expected to dethrone the four-column machines segment in the years to come owing to a growing preference among paper & plastic, polymer, textile, and electronics & electrical industries owing to their low cost as compared to the latter.

Universal Testing Machine – Key Trends

  • Due to budget constraints, end-users are opting for upgrading existing devices instead of purchasing new machines, thereby enabling market players to customize pre-installed systems.
  • Growing preference for multi-purpose universal testing machines over other testing machines will continue to boost the growth of the market.

Universal Testing Machine – Regional Analysis

  • North America and Europe are forecasted to cumulatively account for over 45% of overall market value, with the US and the UK leading the regional markets respectively.
  • East Asia is exhibiting tremendous growth potential owing to the presence of a flourishing construction, automotive, and electronics & electrical sectors in the region’s emerging economies.

Universal Testing Machine – Competitive Landscape

Major market players in the universal testing machines market such as Instron (Illinois Tool Works), AMETEK, Shimadzu Corporation, Keysight Technologies, Zwick/Roell, and MTS Systems Corporation account for over 30% of market share. The competitive landscape represents a fragmented structure with new entrants and established players focusing on widening their product portfolio to gain competitive advantage.

Universal Testing Machine – Taxonomy

Product:

  • Single Column Testing Machines
  • Dual Column Testing Machines
  • Four Column Testing Machines

End Use:

  • Automotive
  • Paper & Plastic
  • Textiles
  • Electronics & Electricals
  • Aerospace Material Testing
  • Construction Material Testing
  • Research & Academia
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

Report Preview: https://www.futuremarketinsights.com/reports/universal-testing-machine-market

About Future Market Insights (FMI)       

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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