Qyr made the prediction that the value of mechanical test equipment markets can be 1251 27 m usd by

QYR made the prediction that the value of mechanical test equipment markets can be 1251.27 M USD by 2022 Custom Research｜Research Report｜Management Consulting｜Seminar｜Database

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Mechanical testing reveals the elastic and inelastic behavior of a material when force is applied. A mechanical test shows whether a material or part is suitable for its intended mechanical applications by measuring elasticity, tensile strength, elongation, hardness, fracture toughness, impact resistance, stress rupture, and fatigue limit.

QYResearch According to QYResearch, the global mechanical test equipment markets has a total value of 860.78 M USD back in 2012, and increased to 1065.77 M USD in 2017. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of mechanical test equipment markets can be 1251.27 M USD by 2022.The CRA of mechanical test equipment is 3.26% from 2017 to 2022.

North America was the largest consumption market with a market share of 25.13% in 2012 and 21.53% in 2017 with an increase of 3.60 %. China and Europe ranked the second and third markets with the market share of 21.13% and 20.14% in 2016.

The mechanical test equipment market has been increased in accordance with the development of whole economy, technology. And the mechanical test equipment market is a mature market characterized by a moderate degree of competition, price sensitivity and technical change. The increasing demand for higher quality and safer goods by end users has made mechanical testers an integral part of general manufacturing processes. Therefore, the application of mechanical testing has become increasingly inherent within all manufacturing industries. Despite the fact that the market for mechanical test equipment has reached a stage where it is highly saturated and mature, it continues to be driven by materials development, a growing focus on quality control, evolving industry specifications and standards, and a strong urge and desire for automation.

QYResearch This market is increasingly witnessing a trend towards upgrading equipment, replacing relevant modules of existing systems and retrofitting.

This is mainly due to advancements made in computer control technology, which has led to a growing focus on data collection and real time analysis. Retrofitting is attractive to end users who are always limited by low capital budgets. Yet, it challenges the sale of new equipment. To successfully deal with this challenge, companies should maintain a balance between retrofitting and selling new equipment. From another point of view, it could also be considered as an opportunity companies could take advantage of to improve their sales and market position.

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