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    Composites Testing Equipment Market | Covid-19 Impact Analysis

    Composites Testing Equipment Market | Covid-19 Impact Analysis

    Composites Testing Equipment Market | Covid-19 Impact Analysis
    Report code - SRAM153 Delivery - 2 Weeks
    Composites Testing Equipment Market Size, Share, Trend, Forecast, & Competitive Analys See more...
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    Impact of COVID-19 on Composites Testing Equipment Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Composites Testing Equipment Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Composites Testing Equipment Market Insights

    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.

    Composite Testing Equipment Market Forecast

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    Composites Testing Equipment Market Share Analysis

    Composites Testing Equipment Market Share by End-Use Industry Type

    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. Increasing production rates of the key commercial and regional aircraft, such as B737, B787, A350XWB, A320, and Bombardier C Series; development of new aircraft or variant of existing programs, such as B737max, A320neo, B777x, and A330 neo; introduction of stringent regulations; and increasing penetration of composites are the major drivers of the market.

    Transportation is estimated to experience the highest growth during the forecast period, driven by increasing penetration of composites in the structural parts in the automotive industry. Increasing penetration of composites is largely because of implementation of stringent regulations on automakers by governments of many countries regarding the enhancement in the fuel efficiency and reduction in the carbon emissions.

    Composites Testing Equipment Market Share by Composite Type

    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.

    Composites Testing Equipment Market Share by Testing Type

    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.

    Regional Insights

    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.

    Key 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.

     

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2011-2022

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Forecast

    6.7% CAGR during 2017-2022

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, Russia, The UK, China, Japan, India, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Composites Testing Equipment Market Size, Share & Forecast by End-Use Industry Type:

    • Aerospace & Defense (Regional Analysis: NA, Europe, APAC, and RoW)
    • Transportation (Regional Analysis: NA, Europe, APAC, and RoW)
    • Building & Construction (Regional Analysis: NA, Europe, APAC, and RoW)
    • Wind Energy (Regional Analysis: NA, Europe, APAC, and RoW)
    • Marine (Regional Analysis: NA, Europe, APAC, and RoW)
    • Others (Regional Analysis: NA, Europe, APAC, and RoW)

    Composites Testing Equipment Market Size, Share & Forecast by Composite Type:

    • Polymer Matrix Composites (Regional Analysis: NA, Europe, APAC, and RoW)
    • Ceramic Matrix Composites (Regional Analysis: NA, Europe, APAC, and RoW)
    • Metal Matrix Composites (Regional Analysis: NA, Europe, APAC, and RoW)

    Composites Testing Equipment Market Size, Share & Forecast by Testing Type:

    • Destructive Testing
      • Regional Analysis (NA, Europe, APAC, and RoW)
      • Testing Type Analysis (Impact Testing Equipment, Static Testing Equipment, Dynamic Testing Equipment, and Others)
    • Non-Destructive Testing
    • Regional Analysis (NA, Europe, APAC, and RoW)
      • Testing Type Analysis (Radiography Testing Equipment, Shearography Testing Equipment, Ultrasonic Inspection Equipment, Visual Inspection Equipment, Eddy-Current Testing Equipment, Thermography Testing Equipment, and Others)

    Composites Testing Equipment Market Size, Share & Forecast by Technique Type:

    • Volumetric Examination (Regional Analysis: NA, Europe, APAC, and RoW)
    • Surface Examination (Regional Analysis: NA, Europe, APAC, and RoW)
    • Condition Monitoring (Regional Analysis: NA, Europe, APAC, and RoW)
    • Others (Regional Analysis: NA, Europe, APAC, and RoW)

    Composites Testing Equipment Market Size, Share & Forecast by Region:

    • North America (Country Analysis: USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, UK, Russia, and Rest of the Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the world (Country Analysis: Brazil, Argentina, and Others)

     

    Report Features

    This report, from Stratview Research, studies the composites testing equipment market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3)
    • SWOT analysis of key players (up to 3)

    Market Segmentation

    • Current market segmentation of any one of the end-use Industry by testing equipment type 

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of Composites Testing Equipment Market in the foreseeable years?

    Driven by the factors like increasing production rates of the best-selling aircraft coupled with increasing penetration for composites & development of new composite applications in different industries, the composite testing equipment market is expected to witness an impressive growth of 6.7% CAGR during the forecast period of 2017 to 2022.

    Who are the key players in the Composites Testing Equipment Market?

    General Electric Company, Olympus Corporation, Sonatest Ltd., Mistras Group, Yxlon International GmbH, Zetec, Inc., Ashtead Technology Inc., and Bosello High Technology SRL are among the key players in the composite testing equipment market.

    Which country/region is expected to witness the highest growth in the Composites Testing Equipment Market?

    Asia-Pacific is projected to witness the highest growth in the composite testing equipment market during the forecast period of 2017-22, driven by China and India.

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