New Construction Material Testing Equipment Market Research Highlights Recovery Path for Businesses from COVID-19 on NDT, UTM, SHTM Products | Technavio

LONDON--(BUSINESS WIRE)--The new construction material testing equipment market research from Technavio indicates Neutral & Inferior growth in the short term as the business impact of COVID-19 spreads.

"One of the primary growth drivers for this market is the promising growth of the infrastructure,” says a senior analyst for the Industrials sector at Technavio. As the markets recover Technavio expects the construction material testing equipment market size to grow by USD 266.92 million during the period 2020-2024.

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Construction Material Testing Equipment Segment Highlights for 2020

• The construction material testing equipment market is expected to post a year-over-year growth rate of -5.25%.
• The market growth will accelerate at a CAGR of almost 3%

Regional Analysis

• 53% of the growth will originate from the APAC region.
• China and Japan are the key markets for construction material testing equipment in APAC.

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Notes:

• The construction material testing equipment market size is expected to accelerate at a CAGR of almost 3% during the forecast period.
• The construction material testing equipment market is segmented by product (NDT, UTM, SHTM, HTM, and ITM) and geography (APAC, Europe, MEA, North America, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Aimil Ltd., Controls Spa, ELE International, Humboldt Mfg. Co., Illinois Tool Works Inc., James Instruments Inc., Matest Spa, MTS System Corp., Qualitest International Inc., and ZwickRoell GmbH & Co. KG.

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