Material Testing Market was valued at USD 633.7 million in 2021 and is expected to grow at a CAGR of 4.5% from 2022-2028. The global material testing market estimated to be expand at significant CAGR over 2022-2028 owing to increasing requirement related to manufacturing standards for all fields and increasing educational research activities. Moreover, increasing adoption of material testing by using different materials such as alloys, polymers, rubber, metals and using different types of raw materials and testing their mechanical strength to improve and maintain the quality are drive the growth of this industry market. But, high cost of equipment of material testing and lack of skilled operators may hinder the market growth. In August 2019, MTS appointed new distributors in Thailand, Central America and Eastern Europe and in November 2019, MTS Expands Presence in Wind Energy and Aerospace Markets through acquisition of Danish engineering firm. On November 25, 2019, Moog and Danfoss has announced servo press drive system collaboration at SPS.
Key Development :
In February 2020, Materials testing equipment and software developer Instron announced the launch of the Torsion Add-On 3.0 for universal testing systems.