August 14, 2023 10:02 ET | Source: Zion Market Research Zion Market Research
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. Hb Indenter
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
Hardness Testing Machine Market: Growth Factors
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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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;
Browse Complete Report Here | Hardness Testing Machine Market By Type (Vickers, Brinell, Universal, Rockwell, And Others), By Application (Steel & Metallurgy, Plastic & Rubber, Scientific Research, Aerospace & Defense, Automotive, Machinery & Manufacturing, Electronics, And Healthcare), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030
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.
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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The global hardness testing machine market is segmented as follows:
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