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This research analyzes the global trends in the material test equipment market across different industries. This is a mature market and material test equipment finds use in verticals such as automotive, aerospace, metals and plastics. The Covid-19 pandemic had a considerable impact on the CAPEX spending of customers both in the automotive and aerospace industries, globally. The study provides an outlook on when the market is likely to revive and assess the next 5 years.
The market has been segmented by product type and region. With businesses impacted considerably due to supply chain disruption and reduced demand globally, 2020 witnessed a considerable decline in the demand for material test equipment products. Despite several countries beginning to relax restrictions, it is unlikely that demand will return to the pre-Covid-19 levels in 2021.
The market has been segmented by product type and region. The study covers a market share analysis of the top competitors. The study also identifies the prominent channels of distribution used in this market. Annual estimates and forecasts are provided for 2017 through 2025.
The geographical scope of the study includes North America, Europe, Asia-pacific (APAC), and Rest-of-the-World (RoW).
The top companies offer several products in addition to offering automated testing machines. The demand for high-quality products that meet international standards will continue to drive demand for testing equipment globally. The report discusses the various trends, drivers, and restraints that are impacting the material test equipment market across the different industries, and the business impact of these drivers and restraints on the enterprises, service providers, and small and medium businesses.
Author: Ram Ravi
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