Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 302.17 Million | USD 402.15 Million | 3.64% | 2022 |
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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