Global Glass Testing Equipment Market demand is anticipated to be valued at USD 1.75 Billion in 2022, forecast to grow at a CAGR of 4.5% to be valued at USD 2.72 Billion from 2022 to 2032. Growth is attributed to the increasing use of glass testing equipment by glass merchants and building contractors.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 1.67 Billion |
| Projected Growth Rate (2022 to 2032) | 4.5% CAGR |
| Expected Market Value (2022) | USD 1.75 Billion |
| Anticipated Forecast Value (2032) | USD 2.72 Billion |
The increasing demand for glass in many end-user industries increases the demand for the glass testing equipment market. Glass testing equipment is used for the measurement of various parameters such as tension, breaking force, and rupture of glass. Glass testing equipment is majorly used by the research & development and testing departments of glass manufacturers. The glass testing equipment is used to check the durability, physical properties, and quality standard of glass.
North America is considered to be a highly lucrative market for the glass testing equipment market, driven primarily by its utilization across pharmaceutical packaging. Simultaneously, the high cost of production and the heavy weight and fragility of glass products will pose a major challenge to the growth of the market. Hence, manufacturers are striving to develop more user-friendly alternatives. This is expected to restrain market growth to a significant extent.
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The increasing use of glass in automotive and construction increases the demand for the glass testing equipment market. Technological advancements in various industries also boost the demand for the glass testing equipment market.
Glass manufacturers and glass packaging industries are expected to accrue significant benefits to the global glass testing equipment market. The glass testing equipment is expected to witness significant growth in the near future.
Technological development in testing equipment new techniques are being developed to test the glass this will increase the demand for the market through forecasting years.
Although the glass testing equipment market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The availability of other low-cost alternatives like plastic packaging in the food industry may restrain the growth of the glass testing equipment market. The increasing use of blister packaging and advanced secondary paper packaging in pharmaceutical packaging hinder demand for glass testing instruments.
The high cost associated with the research and development activities and the availability of alternatives is anticipated to act as a significant growth barrier to the glass testing equipment market in forthcoming years. Stringent government rules and regulations for glass used in the automotive industry propels the growth of the glass testing equipment market.
North America was the largest market for glass testing equipment market and the trend is expected to continue into the forecast period. The presence of key glass testing equipment providers in the USA supports the significant growth of the glass testing equipment market in North America. The glass testing equipment market is expected to witness high growth rates owing to the rapid industrialization in the region.
The demand for glass testing equipment increases due to the rapid demand for glass in the food & beverage sectors of the region. The region is forecast to surge at over 4.1% CAGR from 2022 to 2032. North America is expected to be the next dominant region witnessing high adoption rates for glass testing equipment during the forecast period. With the rapid development and production of glass in the region demand for glass testing equipment is anticipated to rise in the region.
According to Future Market Insights, the Asia Pacific is expected to provide immense growth opportunities for the glass testing equipment market, due to the significant investments in construction, urbanization, and industrialization in the region.
The Glass Testing Equipment market is expected to witness sustained growth over the forecast period. The growth of the glass test equipment market is driven by its wide applications in the glass industry.
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Some of the key participants present in the global glass testing equipment market include Merlin Laser, GSR Laser Tools, Ceralabel-Green, Glass Technology Services Ltd., Presto, Instron, ZwickRoell, Arg International, Laser Tools, Presto Testing Instruments, Canned Instrument Ltd., and Duran Group. among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Merlin Laser, GSR Laser Tools, Ceralabel-Green, and Glass Technology Services Ltd., account for considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Market Value for 2022 | USD 1.75 Billion |
| Market Value for 2032 | USD 2.72 Billion |
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product, End-use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Argentina, Chili, Peru, Germany, UK, France, Spain, Italy, Russia, Benelux, China, Japan, South Korea, GCC, South Africa, Turkey |
| Key Companies Profiled | Merlin Laser; GSR Laser Tools; Ceralabel-Green; Glass Technology Services Ltd.; Presto Testing Equipment; Instron; ZwickRoell; Arg International; Laser Tools; Canned Instrument Ltd.; Duran Group. |
| Customization | Available Upon Request |
FMI projects the global glass testing equipment market to expand at 4.5% value CAGR by 2032.
North America is expected to be the most opportunistic glass testing equipment market, expanding at a 4.1% CAGR.
Merlin Laser, GSR Laser Tools, Ceralabel-Green, and Glass Technology Services Ltd., are some prominent glass testing equipment manufacturers.
| Expected Market Value (2022) | USD 2.72 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 4.2 Billion |
| Projected CAGR (2022 to 2032) | 4.4% |
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