Global torsion tester demand is anticipated to be valued at US$ 24 Billion in 2022, forecast to grow at a CAGR of 5% to be valued at US$ 39.09 Billion from 2022 to 2032. The growing demand for torsion testers is due to the availability of different operation technologies such as electromechanical, electric and servo hydraulic.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 22.86 Billion |
| Expected Market Value (2022) | US$ 24 Billion |
| Anticipated Forecast Value (2032) | US$ 39.09 Billion |
| Projected Growth Rate (2022 to 2032) | 5% CAGR |
Torsion tester consists of a test controller, testing software with easy setup, testing table with rotary motor or actuator, position sensors and power source. Torsion tester is available in both vertical and horizontal orientation. Torsion tester is used for the analysis of torsional strength of different materials such as metals, plastic, composites, wood etc.
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Growing population and increased urbanization is leading to a surge in building and construction activities. Growth of the building & construction industry will propel the demand for torsion testers. Growing automotive production owing to the increasing spending capacity, has led to the growth of the automotive industry.
Growth of the automotive industry will fuel the demand for torsion testers. Owing to the constant research and development activities and advancement of medical science is boosting the demand for torsion testers for testing of medical devices.
Growth of the aerospace industry and increasing metal fabrication activities due to growing industrialization across the world is increasing the demand for torsion testers. Increasing focus towards maintaining quality of products and keeping the safety standards and norms are among the other factors responsible for the growth of torsion tester market.
Rising emphasis towards product innovation and modification is having a positive impact on the torsion tester market. Slightly less product awareness and high price of torsion testers will hinder the growth of torsion tester market.
Increasing population and urbanization along with technological advancement is leading to the growth of building & construction industry in Asia Pacific region, also there is increasing automotive production and industrialization in Asia Pacific region, owing to the above factors Asia Pacific is estimated to be a prominent market for torsion tester.
According to Future Market Insights, there is predominance of the automotive industry in the Europe region, also the increasing building and construction activities makes Europe a significant market for torsion testers. In the regions such as North America there is significant presence of the automotive & aerospace industry.
Also, an increase in building and construction projects and growing industrialization is expected to make North America a potential market. Regions such as Latin America along with Middle East & Africa will together make a potential market for torsion testers owing to the increasing demand from various end use applications.
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Currently, the market is considerably competitive, with continuous product and technology developments by established as well as new players. Some of the key players in the torsion tester market are Shimadzu Corporation, Test Resources, FORM+TEST GmbH, Gotech Testing Machines Inc., Qualitest International Inc., Illinois Tool Works Inc., Tinius Olsen TMC, and Nordson Corporation among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. a torsion tester market report also contains projections using a suitable set of assumptions and methodologies. Global torsion tester research report provides analysis and information according to market segments such as geographies, application, and industry. Globally, the torsion tester market is expected to be fragmented in nature owing to the presence of a large number of players in the local as well as global market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Market Value for 2022 | US$ 24 Billion |
| Market Value for 2032 | US$ 39.09 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Frequency Range, Material Type, End-use Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Mexico, Chile, Peru, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Russia, Poland, China, India, ASEAN, South Korea, GCC, South Africa, Turkey |
| Key Companies Profiled | Shimadzu Corporation; Test Resources; FORM+TEST GmbH; Gotech Testing Machines Inc.; Qualitest International Inc.; Illinois Tool Works Inc.; Tinius Olsen TMC; Nordson Corporation |
| Customization | Available Upon Request |
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FMI projects the global torsion tester market to expand at a 5% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic torsion tester market.
Shimadzu Corporation, Test Resources, and FORM+TEST GmbH, are some prominent torsion tester manufacturers.
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Torsion Tester Market
