United States/WA: Construction Material Testing Equipment Market Will Boom In Near Future
Report Pages:[130 Pages]
Global Construction Material Testing Equipment Market, by testing equipment (Cement testing equipment, Aggregate testing equipment, Pavement testing equipment, Soil testing equipment, Laboratory testing equipment, Concrete testing equipment, and Asphalt testing equipment), by end use (Training & Education and Infrastructure (Manufacturing Industries, Residential & Commercial, Extraction, Utilities, Telecommunication, Transport, and Others)), and by Geography (North America, Asia Pacific, Latin America, Europe, Middle East, and Africa), is projected to attain a market valuation of US$ XX million in 2021 and is anticipated to grow at a CAGR of XX% during the forecast period (2021-2028), as mentioned in a new report published by Coherent Market Insights.
Overview
The construction material testing equipment is designed to evaluate the mechanical properties and environmental resistance of a variety of structures and materials under real conditions. With these unique capabilities, companies can ensure that their infrastructure is in top condition to avoid any unexpected accidents or damages. To meet the needs of their customers, most construction companies have started developing their own testing facilities. Urbanization has resulted in a massive population influx. In order to cope up with the rapidly increasing number of people in developing countries, many construction companies now concentrate their attention on developing cities such as Mumbai, Delhi, Jakarta and Brasilia.
Competitive Landscape
Major companies contributing in the global construction material testing equipment market include Illinois Tool Works (Instron), Olson Instruments, Shimadzu Corporation, Matest, Wirsam Scientific, ELE International, Controls Group, Aimil, NL Scientific Instruments, IMP Scientific, GlobalGilson, Humboldt Mfg, MTS Systems, Zwick Roell Group, Applied Test Systems, Tinius Olsen Testing Machine Company, Qualitest International, and Canopus Instruments.
Drivers
Expanding construction sector coupled with the rapid industrialization amidst rising population is expected to augment growth of the construction material testing equipment market over the forecast period.
Moreover, increasing emphasis on material testing solutions to obtain sustainable and secure infrastructure in commercial and residential buildings is expected to propel growth of the construction material testing equipment market throughout the forecast period.
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The Epitome of the COVID-19 Aftermath
The global construction material testing equipment market had witnesses a short-term decline in business with the emergence of the COVID-19 virus. The major fall in the growth-curve was during mid-March 2020 due to the imposition of nationwide lockdowns. The supply chain of raw materials was significantly affected in the second quarter of 2020. However, the gradual ease in restrictions had revived the construction work, thus, the market is enjoying a bounce-back season.
Key Trends
The construction material testing equipment market is anticipated to grow at a CAGR of XX % during the forecast period owing to the flourishing industrial sector and demand for reliable construction material. For instance, according to the Indian Union Budget 2021, India will be investing around US$ 1.4 trillion on infrastructure development by 2023.
Across the geographical horizons, the construction material testing equipment market in the Asia Pacific region is poised to propel at a scalable rate on the heels of rapid urbanization, huge population base, and the advent of smart cities.
In the same tune, the North American region is also sustaining well for the construction material testing equipment market in the view of increasing expenditure on infrastructure development across defense, automotive, and aerospace sector.
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