Newark, NJ, Nov. 16, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the Global Test Benches Market is expected to grow from USD 1.2 billion in 2020 and to reach USD 1.76 billion by 2028, growing at a CAGR of 4.9% during the forecast period 2021-2028.
The test benches market is witnessing significant growth from the past years. Test benches conduct an assembly line testing & calibration of various equipment such as electric circuit boards, semiconductors, electrical devices across different segments. For testing of sensors, PC- Based test benches are designed with fully automated instruments. Testing benches renders the required environment & conditions to test the various components during the manufacturing & development stage so as to ensure the produced final equipments or the components that are used in further assembling.
Test benches are used for testing & inspecting the components physically prior to getting assembled. These test benches helps to conduct the quality checks. By testing samples test benches ensures consistency of defined parameters. Companies invest in installation of test benches in order to provide quality products to the end-users. Test benches help the manufacturers to tailor products before installing them. Test benches are adopted in various industrial applications such as automotive & transportation, industrial manufacturing & engineering and many more.
The global test benches market is expected to witness significant growth, owing to existence of audit & stringent quality regulations, increasing requirement for automation of factory across the globe, increasing adoption in order to fulfil customers demand & provide quality products according to the quality standards, recent innovations in automotive industry such as electric vehicles & autonomous cars. Growing demand in oil & gas segment, anticipated growth for electricity, product innovations, and surging demand for electric vehicles in automobile industries coupled with the growth of electronics & semi-conductor industries contributes to the market growth. Test benches helps to improve the process capacity and lowers the product rejections, ensures reduced emissions & better energy efficiency and supports manufacturing innovations.
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Test benches ensure that the automobiles are properly calibrated & tested and helps to accelerate the advanced cycle, cost-efficiency & enhance productivity. These helps the manufacturers to increase the life span of product, enhance quality. Testing and re-testing of products during R&D stage and delivery stage helps in reducing the problems associated with the product quality. The increasing demand for effective testing solutions which helps in measuring the effectiveness of components is anticipated to propel the market growth. Ever changing combustion engine charges restrains the market growth. Surging demand for the test benches will provide market growth opportunities.
Key players operating in global test benches market include Mark-10 Corporation (U.S.), AMETEK Sensors, Test and Calibration (U.S.) , Robert Bosch GmbH (Germany), IAG Industries Automatisierungsgesellschaft m.b., Blum Novotest (Germany), FuelCon AG (Germany), Nidec Industrial Solutions (Italy), MCD Elektronik GmbH (Germany), ATEQ (U.S.), Atlas Copco, VTB VALVE TEST BENCH MFG CO. LTD., dspace GmbH, Selha Group, ETH-messtechnik GmbH, OPAL-RT TECHNOLOGIES, INC., JM Test Systems, Inc., RVS SRL, LIEDTKE ANTRIEBSTECNIK GmbH & Co. KG, General Electric Corporation, Atlas Material Testing Technology GmbH, Telide Shenzhen High Pressure Fluid Systems Co., Taian Nantai Experimental Equipment Co. Ltd., Com-Ten Industries, ABL AUTOMAZIONE S.p.A., EFCO Maschinenbau GmbH, ANDILOG Technologies, Flow Systems, HAIDA EQUIPMENT CO., Greenlight Innovation Corp., Haven Automation Ltd, Kern & Sohn GmbH, Mecmesin Limited, IMADA Incorporated, Think PC Progetti Srl, SANTAM, REVALVE, Universal Punch Corp, Topas GmbH.
Valve segment dominated the market and held the largest market share of 39.18% in the year 2020
Based on type, the global test benches market is segmented into valve, force, torque and others. Valve segment dominated the market and held the largest market share of 39.18% in the year 2020. This growth is attributed to the rising adoption of valve test benches by oil & gas industry to regulate the flow rate of fluid in pipelines and many more industries.
Hardware segment dominated the market and held the largest market share of 57.23% in the year 2020
Based on component, the global test benches market is segmented into hardware & software. Hardware segment dominated the market and held the largest market share of 57.23% in the year 2020. Hardware components consist of benches and a stimulus generator which is connected to the device under test so as to generate a set of synchronized waveforms. This growth is attributed to the increasing innovations in various industrial appliances.
Automotive & transportation segment dominated the market and held the largest market share of 26.13% in the year 2020
Based on application, the global test benches market is segmented into automotive & transportation, semiconductor & electronics, power generation & utilities, industrial manufacturing & engineering, oil & gas. Automotive & transportation segment dominated the market and held the largest market share of 26.13% in the year 2020.
Motorized Stands segment dominated the market and held the largest market share of 62.88% in the year 2020
On the basis of test stands, the global test benches market is segmented into motorized stands and manual stands. Motorized Stands segment dominated the market and held the largest market share of 62.88% in the year 2020. This growth is attributed to its availability in low, standard & high speeds and suitability for production floor operations. These enables to measure at uniform speed and angle.
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Valve segment dominated the market and held the largest market share of 39.46% in the year 2020
On the basis of test material, the global test benches market is segmented into Valve, Furniture, Motors and Others. Valve segment dominated the market and held the largest market share of 39.46% in the year 2020. This growth is attributed to its utilization in manufacturing operations & industrial processes. Safety valves & Industrial valves enable the safe operations of the processes and acts as important elements in process control.
Regional Segment of Test Benches Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global test material market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share of 31.2% in the year 2020 owing to the increased production of automobiles & electronic devices. This growth is ascertained by the China in the Asia-Pacific region as it is the largest producer of vehicles, semiconductors & power generation. The market in Europe is expected to witness the fastest growth rate owing to the presence of large number of manufacturers of test benches. Germany is said to be the hub for manufacturing of test benches.
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About the report:
The global test benches market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
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