NEW YORK, United States, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Hardness Testing Machine Market - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. According to the latest research study, the global hardness testing machine market size was valued at around USD 302.17 million in 2022. The market is expected to grow above a CAGR of 3.64% and is anticipated to reach over USD 402.15 million by 2030.
The report analyses the Hardness Testing Machine market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Hardness Testing Machine market.
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Hardness Testing Machine Market Overview:
A machine for assessing the hardness of a substance is known as a hardness testing machine. These instruments aid manufacturers in ensuring that their products conform to specifications and fundamental standards, as well as ensuring their products' durability. The cutting-edge hardness testing devices are utilised in a wide variety of contexts. They are founded on systems that utilise new mechatronic components for high-precision laboratory testing, quality assurance, and testing on the production line. The introduction of new products has contributed to a surge in demand for hardness testing instruments in a variety of end-use industries. In May 2023, ZwickRoell Indentec, a leading provider of material testing instruments, announced the introduction of a new brand of touchscreen Rockwell hardness testing machines.
Key Insights from Primary Research
- As per the analysis, the Hardness Testing Machine market share is likely to grow above a CAGR of around 3.64% between 2023 and 2030.
- The Hardness Testing Machine market size was worth around USD 302.17 million in 2022 and is estimated to hit approximately USD 402.15 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The global hardness testing machine market is anticipated to record massive growth over the forecast period owing to escalating demand for products from a spectrum of end-use sectors such as aviation, automotive, and defense sectors.
- In terms of type, the vickers segment is slated to register the fastest CAGR over the anticipated period.
- On the basis of application, the steel & metallurgy segment is slated to dominate the global industry share over the forecast timespan.
- Region-wise, the Asia-Pacific hardness testing machine industry is projected to register the highest CAGR during the assessment timeline.
Hardness Testing Machine Market: Growth Factors
- Mass product penetration across many end-use sectors to drive global market revenue 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.
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Competitive Players
The report contains qualitative and quantitative research on the global Hardness Testing Machine Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global hardness testing machine market include;
- 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
- And others
Segmentation Analysis:
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.
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.
Regional Analysis:
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.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Hardness Testing Machine industry?
- What are the main driving factors propelling the Hardness Testing Machine Market forward?
- What are the leading companies in the Hardness Testing Machine Industry?
- What segments does the Hardness Testing Machine Market cover?
- How can I receive a free copy of the Hardness Testing Machine Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 302.17 Million |
| Market Forecast in 2030 | USD 402.15 Million |
| Growth Rate | CAGR of 3.64% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| 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, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global hardness testing machine market is segmented as follows:
By Type
- Vickers
- Brinell
- Universal
- Rockwell
- Others
By Application
- Steel & Metallurgy
- Plastic & Rubber
- Scientific Research
- Aerospace & Defense
- Automotive
- Machinery & Manufacturing
- Electronics
- Healthcare
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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