The global test benches market size is estimated to reach USD 1.61 billion by 2027, expanding at a CAGR of 4.8% from 2020 to 2027, according to a new report by Grand View Research, Inc. Increasing adoption of test benches in various industrial applications, such as automotive, semiconductor and electronics, industrial manufacturing, and engineering, is likely to propel the market growth over the forecast period. Need for the testing of appliances and equipment that are under development, such as consumer electronic devices, car components, turbines, and pumps, is estimated to drive the market over the next few years. Testing systems are also used for the measurement and inspection of machines and instruments.
Testing
systems are used by the semiconductor manufacturing companies to enhance their
performance capability and the speed of operation, which, in turn, reduces the
cost of the semiconductor device. Furthermore, increasing demand for testing
systems from the automotive industry owing to significant increase in the sales
of vehicles is boosting the growth of the market. Recent innovation in the
automotive industry, such as autonomous cars and electric vehicles, is further
driving the demand for testing systems. Lightweight materials including
processed steel, carbon fiber, aluminum, and steel are used to enhance the
performance of the vehicles and reduce the weight and complexity of the
automotive parts.
Companies
are significantly investing in the installation of the test benches in order to
deliver quality products to the end customers. For instance, in late 2017,
Winergy, a business segment for gearboxes of Flender GmbH, a Siemens Company,
installed the most extensive testing system in Australia for the testing of
wind turbine gearboxes. The company has invested USD 3.95 million in the
installation of the 2.8 MW full load test bench.
Europe
is expected to register the highest CAGR over the forecast period owing to
increasing production of testing benches in the countries, such as Germany,
Italy, and U.K. Asia Pacific held the largest market share in 2019 owing to the
presence of a large number of semiconductor and electronics manufacturing
companies, especially in China. Countries such as U.S., Canada, and India are
anticipated to generate considerable revenue over the next few years. Key
players operating in the test benches market include Mark-10 (U.S.), Robert
Bosch GmbH (Germany); AMETEK Sensors, Test & Calibration (U.S.);
Blum-Novotest (Germany); and IAG Industrie Automatisierungsgesellschaft m.b.H.
(Austria).
Full Research Report On Test Benches Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/test-bench-market
Further key
findings from the study suggest:
- The market is driven by
increasing adoption of testing systems in various applications in order to
fulfill the customer demand and deliver quality products to the end
customers
- Valve test benches dominated
the market in terms of revenue in 2019 owing to their benefits, such as
ability to test the valves around ten times faster than the conventional
testing methods
- Motorized test stands are
expected to expand at the highest CAGR during the forecast period owing to
their ability to provide constant testing speed as compared to manual
stands
- By application, the
semiconductor and electronics segment is expected to witness considerable
growth over the forecast period owing to rising production, design
complexity, and requirement of high performance semiconductor devices used
in several electronic products
- Europe is expected to
witness the highest growth in the next few years owing to the presence of
a large number of manufacturers of testing benches
- Some of the key test benches
market players are FuelCon AG (Germany), MCD Elektronik GmbH (Germany),
Nidec Industrial Solutions (Italy), and ATEQ (U.S.).
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/test-bench-market/request/rs1
Grand View Research has segmented
the global test benches market based on component, test bench type, test
stands, test material, application, and region:
Test Bench
Component Outlook (Revenue, USD Million, 2016 - 2027)
- Hardware
- Software
Test Bench Type
Outlook (Revenue, USD Million, 2016 - 2027)
- Valve
- Force
- Torque
- Others
Test Bench Test
Stands Outlook (Revenue, USD Million, 2016 - 2027)
- Manual Stands
- Motorized Stands
Test Bench Test
Material Outlook (Revenue, USD Million, 2016 - 2027)
- Valve
- Motors
- Furniture
- Others
Test Bench
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Semiconductor and
Electronics
- Industrial Manufacturing and
Engineering
- Automotive and Transportation
- Power Generation and
Utilities
- Oil and Gas
- Others
Test Bench Regional
Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment