Chemicals Industry Today
Composites Testing Equipment Market to experience an impressive growth of 6.7% during 2018-2023
Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Composites Testing Equipment Market, answers all the important questions.
Published 27 June 2019
Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Composites Testing Equipment Market.
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.
The important questions the report answers are:
These questions and many more, big and small, are all discussed in the report in great detail.
The Global Composites Testing Equipment Market: Highlights
The global composites testing equipment market is projected to witness a healthy CAGR of 6.7% over the next five years, driven by increasing production rates of the best-selling aircraft coupled with increasing penetration for composites, development of new composite applications in different industries, increasing demand for quality products, increasing research & development activities, increasing demand for the light-weight materials, and introduction of stringent regulations.
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
Dissection by Segments
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/270/composites-testing-equipment-market.html
Market Segments
The global composites testing market is segmented based on the end-use industry as aerospace & defense, transportation, building & construction, wind energy, marine, and others. The aerospace & defense is expected to remain the most dominant segment of testing equipment in the composites industry over the next five years.
Based on the composite type, the global composites testing equipment market is segmented as polymer matrix composites, ceramic matrix composites, and metal matrix composites. Polymer matrix composite generates the highest demand for testing equipment and is expected to remain the largest composite type over the next five years, driven by the dominance of polymer matrix composites in various end-use industries.
The global composites testing equipment market is segmented based on the testing type as destructive and non-destructive. Destructive testing equipment is further segmented into impact testing, static testing, dynamic testing, and others. Similarly, non-destructive testing equipment is further segmented into radiography testing equipment, shearography testing equipment, ultrasonic inspection equipment, visual inspection equipment, eddy-current testing equipment, thermography testing equipment, and others. Non-destructive testing equipment is expected to remain the most dominant over the next five years, driven by its higher usage in a wide array of end-use industries ranging from aerospace & defense, transportation, to wind energy.
North America holds the highest share in the global composite testing equipment market, driven by the USA. The region is the manufacturing capital of the advanced composites industry with the presence of all the major players. This region also holds healthy share in the other composite markets including wind energy, transportation, building & construction, and marine. The continuous shift of automobile manufacturing plants to Mexico is likely to create a strong demand for composites as well as the testing equipment.
Asia-Pacific is projected to witness the highest growth during the forecast period, driven by China and India. Development of indigenous commercial, regional, and military aircraft, such as COMAC C919, ARJ21, and Mitsubishi MRJ; commencement of assembly plants of major commercial aircraft, such as A320 in the China; the highest wind turbine installation; and increasing penetration of composites in the transportation industry are some of the major growth drivers of the region.
Players
General Electric Company, Olympus Corporation, Sonatest Ltd., Mistras Group, Yxlon International GmbH, Zetec, Inc., Ashtead Technology Inc., and Bosello High Technology SRL are the key players of the testing equipment for the composites industry. New product development and collaboration with customers are some of the key strategies adopted by companies to gain a competitive edge over other competitors.
Click Here for Other Reports from Stratview Research in the Advanced materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.
The important questions the report answers are:
- What will be the market growth rate in the near future?
- What are the major developments in the market wrt regulations, acquisitions and innovations?
- What are the growth drivers as well as the constraints?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
These questions and many more, big and small, are all discussed in the report in great detail.
The Global Composites Testing Equipment Market: Highlights
The global composites testing equipment market is projected to witness a healthy CAGR of 6.7% over the next five years, driven by increasing production rates of the best-selling aircraft coupled with increasing penetration for composites, development of new composite applications in different industries, increasing demand for quality products, increasing research & development activities, increasing demand for the light-weight materials, and introduction of stringent regulations.
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
Dissection by Segments
- by End-Use Industry Type : Transportation, Aerospace & Defense and Others
- by Composite Type : Polymer Matrix Composites, Ceramic Matrix Composites and Others
- by Testing Type : Destructive Testing and Non-Destructive Testing
- by Technique Type : Volumetric Examination, Surface Examination and others
- by Region : North America, Europe, Asia-Pacific, and RoW
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/270/composites-testing-equipment-market.html
Market Segments
The global composites testing market is segmented based on the end-use industry as aerospace & defense, transportation, building & construction, wind energy, marine, and others. The aerospace & defense is expected to remain the most dominant segment of testing equipment in the composites industry over the next five years.
Based on the composite type, the global composites testing equipment market is segmented as polymer matrix composites, ceramic matrix composites, and metal matrix composites. Polymer matrix composite generates the highest demand for testing equipment and is expected to remain the largest composite type over the next five years, driven by the dominance of polymer matrix composites in various end-use industries.
The global composites testing equipment market is segmented based on the testing type as destructive and non-destructive. Destructive testing equipment is further segmented into impact testing, static testing, dynamic testing, and others. Similarly, non-destructive testing equipment is further segmented into radiography testing equipment, shearography testing equipment, ultrasonic inspection equipment, visual inspection equipment, eddy-current testing equipment, thermography testing equipment, and others. Non-destructive testing equipment is expected to remain the most dominant over the next five years, driven by its higher usage in a wide array of end-use industries ranging from aerospace & defense, transportation, to wind energy.
North America holds the highest share in the global composite testing equipment market, driven by the USA. The region is the manufacturing capital of the advanced composites industry with the presence of all the major players. This region also holds healthy share in the other composite markets including wind energy, transportation, building & construction, and marine. The continuous shift of automobile manufacturing plants to Mexico is likely to create a strong demand for composites as well as the testing equipment.
Asia-Pacific is projected to witness the highest growth during the forecast period, driven by China and India. Development of indigenous commercial, regional, and military aircraft, such as COMAC C919, ARJ21, and Mitsubishi MRJ; commencement of assembly plants of major commercial aircraft, such as A320 in the China; the highest wind turbine installation; and increasing penetration of composites in the transportation industry are some of the major growth drivers of the region.
Players
General Electric Company, Olympus Corporation, Sonatest Ltd., Mistras Group, Yxlon International GmbH, Zetec, Inc., Ashtead Technology Inc., and Bosello High Technology SRL are the key players of the testing equipment for the composites industry. New product development and collaboration with customers are some of the key strategies adopted by companies to gain a competitive edge over other competitors.
Click Here for Other Reports from Stratview Research in the Advanced materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
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