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Research and Markets (www.researchandmarkets.com/research/00ce94/world_mechanical_t) has announced the addition of Frost & Sullivan's new report "World Mechanical Test Equipment Markets 2008" to their offering.
This research service titled World Mechanical Test Equipment Markets provides a holistic view of the mechanical testing industry along with the revenue forecasts for the various mechanical testing techniques, latest technological developments, and market trends in the industry. In this research, expert analysts thoroughly examine the following markets: universal testing machines, servohydraulic testing machines, hardness test equipment, and impact test equipment.
This analysis is available through our Test & Measurement program. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Service program ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth. For more information on this custom subscription service, please click here.
Development of New Materials Driving the Mechanical Testing Market:
New materials development is helping sustain the growth of the world mechanical test equipment market. Increasing research in materials technology has led to the emergence of light substitute materials such as composites and smart materials, which are used in defense as well as automotive and aerospace applications. The emerging fields of microelectromechanical systems (MEMS) and nanotechnology have led to the development of complex materials and the growing miniaturization of components in electronics industries. The emergence of these new breed of materials has driven the need to test for material properties, thereby increasing the uptake of mechanical test equipment.
However, the global economic slowdown is affecting revenue growth in the mechanical testing equipment market. The global economy expanded by just 3.8 percent in 2007 and forecasts indicate that the growth rate could be even lower in 2008. "The economic slowdown has limited capital budgets and led to end users curtailing their capital equipment spending in the name of cost cutting," notes the analyst of this research service. "The impact of this restraint is expected to be high over the short and mid terms of the forecast period as the economies are expected to continue to slowdown until 2010."
Increasing Emphasis to Improve Product Quality and Need to Conform to Standards and Specifications Propel Market Growth
The requirement for mechanical testing has been enhanced by the growing emphasis on improving product quality. Moreover, the continuing trend toward outsourcing manufacturing has also driven and increased the need to adhere and comply with various standards and specifications such as ASTM, ISO, and DIN. Hence, the focus on product quality, and testing for conformance to international quality standards and specifications are expected to continue to remain important, driving the growth of the mechanical test equipment market throughout the forecast period.
Overall, the world mechanical test equipment market generated revenues worth $660.8 million in 2007, growing at the rate of 2.8 percent over the previous year. Among the market segments, the universal testing machines (UTM) market accounted for 56.3 percent of the total market, with the market for screw-driven UTM generating the largest revenues. "While quality control has been a major driver for the screw-driven UTM market, the market is also witnessing a shift in focus from testing raw materials to testing finished products," says the analyst. "Besides, screw-driven UTMs are being increasingly used for research and development in medical and biomaterials industries and these are expected to sustain the market for screw-driven UTMs throughout the forecast period."
Expert analysts thoroughly examine the following market sectors in this research:
- Universal testing machines
- Servohydraulic testing machines
- Hardness test equipment
- Impact test equipment
The following technology is covered in this research:
- Mechanical or destructive testing
Key Topics Covered:
- Total Mechanical Test Equipment Market
- World Universal Testing Machines Market
- World Servohydraulic Testing Machines Market
- World Hardness Test Equipment Market
- World Impact Test Equipment Market
- List of Figures
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