MEA & Latin America to emerge attractive for cement & mortar testing equipment APEJ secures top market position, says FMI research.
Increasing demand for process automation across industries is primarily fueling the adoption of cement and mortar testing equipment in construction industry. Poised to see just-under 5% yearly growth in the revenue, the global market for cement and mortar testing equipment is likely to cross the value of US$ 550 million in 2019.
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Developing Asian Economies Remain the Hotbed of Opportunities
With more than 1/3rd share of the total market revenue, APEJ remains the most lucrative region for cement and mortar testing equipment manufacturers and distributors.
Although an important market for cement and mortar testing equipment penetration, Europe is likely to demonstrate steady year on year revenue growth in 2019 and ahead.
Whereas developing regions such as Latin America and MEA are poised to display promising performance in coming years – says a newly released market research intelligence study by Future Market Insights.
“China, India, and Singapore are serving a vital role in boosting the growth of cement and mortar testing equipment market across Asian region,” says a senior market research professional at the company.
Manufacturers to Discover High Potential Opportunities in R&D Sector
Accounting for around half the market value share, on-site material testing has been the largest area for adoption of cement and mortar testing equipment. However, the report prompts at a rapidly emerging opportunity for manufacturers in the R&D sector.
Looking at the rate of revenue generation emerging in R&D sector, it is more likely that research and training laboratories would register relatively higher demand for cement and mortar testing equipment in coming years, according to the report.
Tightening Regulatory Standards for Construction Materials Push Market Growth
Product type assessment of the cement and mortar testing equipment landscape reaffirms continued dominance of compression machines, followed by tensile testing machines.
The analyst explains, “A growing number of strict regulatory standards emerging for quality testing of construction materials including cement and mortar is subsequently creating a positive outlook for further penetration of cement and mortar testing equipment. With growing significance and criticality of adoption of appropriate material testing equipment across the construction industry, compression machines and tensile testing machines are expected for higher growth over other equipment types”.
The machine type analysis of global cement and mortar testing market reveals that lightweight, easy-to-transport, and low maintenance portable cement and mortar testing equipment is currently accounting for over 60% share in the global market value, followed by stationary cement and mortar testing equipment.
Key Insights Drawn from Competitive Landscape Analysis
R&D of advanced technology based testing equipment is likely to help manufacturers enhance their existing portfolio of offerings.
Long-term contractual distribution partnerships with regionally or globally leading distributors are expected to strengthen distribution networks of leading market companies.
Digital testing equipment offering additional features such as digital data recording, and increased automation of equipment delivering higher level accuracy are likely to remain on the radar of key players.
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The top 10 ranking players in cement and mortar testing equipment market account for around 45% share of the total market revenue, leaving the competitive landscape fragmented. The global cement and mortar testing equipment market report offers thorough profiles of leading companies with an objective to shed light on their key strategic developments in recent years.
Some of the players covered in cement and mortar testing report include Humboldt Mfg. Co., NL Scientific Instruments SDN BHD, Controls S.p.A., ELE International, EIE Instruments, Accro-Tech Scientific Industries, Cement Test Equipment, Aimil Ltd., Qualitest International Inc., and Matest.
In an effort to address a longstanding challenge of the lack of skill to efficiently and accurately operate cement and mortar testing equipment, Controls Group – one of the leading suppliers of material testing equipment – recently organized a training session for consumer companies, on the details of operating cement and mortar testing compression machines, in Italy.
This post was originally published on Business Analytics