Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 302.17 Million | USD 402.15 Million | 3.64% | 2022 |
The global hardness testing machine market size was evaluated at $302.17 million in 2022 and is slated to hit $402.15 million by the end of 2030 with a CAGR of nearly 3.64% between 2023 and 2030.
The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The hardness testing machine market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the hardness testing machine industry report explores the investor and stakeholder space to help companies make data-driven decisions.
A hardness testing machine is an instrument used for measuring the hardness of a substance. These instruments help manufacturers in ensuring that their goods meet specifications and core standards along with guaranteeing their durability. The state-of-art hardness testing machines are utilized in a large range of applications. They are based on systems that make use of new mechatronic parts for high-precision testing in laboratories, quality assurance, and production-line testing. New product launches have contributed to a burgeoning demand for hardness testing machines in a slew of end-use sectors. For instance, in May 2023, ZwickRoell Indentec, a key supplier of material testing instruments, declared the launching of a new brand of touchscreen Rockwell hardness testing machines.
Massive product penetration across a plethora of end-use sectors to steer the global market revenue over 2023-2030
Escalating demand for products from a spectrum of end-use sectors such as aviation, automotive, and defense will prop up the expansion of the hardness testing machine market across the globe. Apart from this, surging penetration of hardness testing machines in small & medium-sized firms will spearhead the global market trends. The surge in investments in research activities for developing innovative products with newly embedded features will steer the market expansion across the globe. Market players are coining new business strategies to add to their existing product line, thereby accounting lucratively towards the growth of the global market size.
Moreover, the proliferating of automated tools in various production units requires hardness testing equipment for the equality control process and this will expedite the surge in the hardness testing machine market globally. Furthermore, a technological breakthrough in the meteorology domain is set to enhance the acceptance of the product in the domain in the coming years.
Huge loads and massive impact can inhibit global industry expansion by 2030
The devices produce indent impressions in small objects and this is a major drawback of the hardness testing machine. In addition to this, testing of hard materials leads to errors in measurement due to the deforming of the ball indentor resulting in inaccurate results. This can be a major factor hindering the expansion of the global hardness testing machine industry. High loads and big impacts can reduce the life of components of the hardness testing machines, thereby retarding the expansion of the global industry.
Escalating need for testing hard metals to generate new growth avenues for the market across the globe
The growing need for testing hardness in metals has led to massive demand for increasing production of hardness testing machines, thereby creating new aspects of growth for the global hardness testing machine market. The rise in demand for testing hard metals will further enlarge the scope of the product demand in the metal industry in the near future.
Fluctuations in government policies regarding the use of the product in various sectors can prove to be a big challenge for the industry globally
A rise in inaccuracy in measurement occurring due to human error may pose a huge challenge to the growth of the global hardness testing machine industry. Changing government laws related to the use of the product can prove to be a key challenge in the growth of the industry in the coming decade.
The global hardness testing machine market is sectored into type, application, and region.
In type terms, the global hardness testing machine market is segregated into vickers, brinell, universal, rockwell, and others segments. In addition to this, the vickers segment, which gathered nearly two-fifths of the global market revenue in 2022, is predicted to record a significant growth rate over the anticipated timespan. The growth of the segment in the next couple of years can be credited to the ability of the product to effectively handle materials with high tensile strength ranging from about 40,000 N to 2,200,000 N as per the application needs.
Based on the application, the global hardness testing machine industry is divided into steel & metallurgy, plastic & rubber, scientific research, aerospace & defense, automotive, machinery & manufacturing, electronics, and healthcare segments. Furthermore, the steel & metallurgy segment, which accounted for more than 43% of the global industry share in 2022, is set to contribute majorly towards the global industry revenue share by 2030. The segmental expansion in the coming eight years can be ascribed to the massive demand for the product in the steel & metallurgy sector for determining that the steel & metallurgy fulfill the required standards set by ISO before its sale. Moreover, steel and its alloys find massive applications in automotive parts, construction, and various appliances, thereby steering segmental surge.
Report Attributes | Report Details |
---|---|
Report Name | Hardness Testing Machine Market Report |
Market Size in 2022 | USD 302.17 Million |
Market Forecast in 2030 | USD 402.15 Million |
Growth Rate | CAGR of 3.64% |
Number of Pages | 211 |
Key Companies Covered | Starrett, Beijing Time High Technology, Zwick Roell Group, LECO Corporation, Hegewald & Peschke, Mitutoyo, AFFRI Inc., INNOVATEST, Aolong, Phase II Plus, Buehler, Bareiss, Struers, Laizhou Huayin Testing Instrument, EMCO-TEST, SCTMC, Tinius Olsen, Ernst, Zhijin, Foundrax, and FINE Group. |
Segments Covered | By Type, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The Middle East & Africa to be a global leader in the hardness testing machine market over the forecast timeline
The Middle East & Africa, which contributed more than half of the global hardness testing machine market share in 2022, is expected to lead the regional market landscape in the coming years. The market growth in the sub-continent over the prognosis timespan can be subject to a rise in the demand for hardness testing machines for testing of equipment used in the exploration of oil & gas reservoirs in countries such as Kuwait, Nigeria, Saudi Arabia, Iraq, and UAE.
Furthermore, the hardness testing machine industry in Asia-Pacific is expected to register the highest CAGR in the assessment timeframe. The major growth factors of the industry in the region include escalating demand for a product in the industrial machinery sector in countries such as China and India. The presence of key manufacturers in the region will contribute majorly to the regional industry expansion. Additionally, a surge in government expenditure on the defense sector in the region will contribute majorly towards the regional industry proceeds in the years to come.
The global hardness testing machine market profiles key players such as:
By Type
By Application
FrequentlyAsked Questions
A hardness testing machine is an instrument used for measuring the hardness of a substance. These instruments help manufacturers in ensuring that their goods meet specifications and core standards along with guaranteeing their durability. The state-of-art hardness testing machines are utilized in a large range of applications. They are based on systems that make use of new mechatronic parts for high-precision testing in laboratories, quality assurance, and production-line testing.
The global hardness testing machine market growth is owing to the surge in investments in research activities for developing innovative products with newly embedded features.
According to a study, the global hardness testing machine industry size was $302.17 million in 2022 and is projected to reach $402.15 million by the end of 2030.
The global hardness testing machine market is anticipated to record a CAGR of nearly 3.64% from 2023 to 2030.
The Asia-Pacific hardness testing machine industry is set to register the highest CAGR over the forecasting timeline owing to escalating demand for a product in the industrial machinery sector in countries such as China and India. The presence of key manufacturers in the region will contribute majorly to the regional industry expansion. Additionally, a surge in government expenditure on the defense sector in the region will contribute majorly towards the regional industry proceeds in the years to come.
The global hardness testing machine market is led by players such as Starrett, Beijing Time High Technology, Zwick Roell Group, LECO Corporation, Hegewald & Peschke, Mitutoyo, AFFRI Inc., INNOVATEST, Aolong, Phase II Plus, Buehler, Bareiss, Struers, Laizhou Huayin Testing Instrument, EMCO-TEST, SCTMC, Tinius Olsen, Ernst, Zhijin, Foundrax, and FINE Group.
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