marketreports

As per the report by International Organization of Motor Vehicles Manufacturers, the total number of cars and commercial vehicles manufactured globally in 2018 surged to 91.53 million. The growth of the automotive industry is attributed with the development in the material testing market. Every single vehicles and its parts manufactured must go through testing procedure that is fueling the growth of the material testing market. Apart from the automotive industry, application segments of the material testing market expand to construction, aerospace and defense, medical devices, power, and others. The global material testing market value stood at $700 million in 2018. And, the compulsion laws to test each material for quality assurance will drive the market with compound annual growth rate (CAGR) of 4% during the forecast period of 2019-2025. Request Sample APAC is the positioned as the leading region in the material testing market. The rapid industrialization across emerging economies, ...