First publishedon www.AggBusiness.com
Sales of construction materials testing equipment units topped 1 million in 2018. Pictured is a Lafarge Endure concrete pour pic: Aggregate Industries
Global construction materials testing equipment sales exceeded one million units in 2018 - equating to a market value of US$2.5 billion – with industry revenues tipped to grow 4.9% a year until 2027, according to a new study by Future Market Insights (FMI), a leading independent business market research consultancy.
The FMI study claims that the overall growth of the worldwide construction materials testing equipment market can be attributed to growing interest of property buyers in investigating a build’s quality prior to completing a purchase; the rising importance of durability in construction projects in a bid to ensure public safety; bullish growth of the construction materials market and introduction of innovative products; and stringent regulatory standards for construction material testing.
The FMI study highlights that demand for construction materials testing equipment market is likely to remain high in on-site locations. In 2018, five of every 10 construction material testing equipment were sold in on-site location projects.
R&D laboratories and educational institutes also use construction materials testing equipment, wherein construction materials are tested during the process of materials production or pilot studies. Extensive research and development activities in the construction materials industry to introduce innovative yet durable materials is said by the new FMI study to further increase the importance of construction materials testing equipment..
The FMI study finds that commercial applications accounted for nearly 30% of global sales of construction materials testing equipment, whereas transport applications accounted for nearly 20% sales. Residential application also contributed to a significant demand for construction materials testing equipment as manufacturers now deliver residential application-specific testing equipment.
FMI says its study reports that soil testing equipment is the most popular type of construction materials testing equipment, accounting for four of every 10 unit sales last year. Inspection of soil properties is essential to implement any infrastructure project successfully. The study found that the remaining 60% share of construction materials testing equipment sales was attributed to equipment that tests materials such as aggregate, concrete and other construction materials.
According to the study, APEJ (Asia Pacific Excluding Japan) accounted for one-third of the global demand for construction materials testing equipment in 2018. The region is said by the FMI study to have a dynamic construction sector - with some countries are engaged in developing domestic infrastructure, whereas others are leveraging export demand. In particular, China remains a highly competitive market for construction materials testing equipment and accounted for over a quarter of APEJ demand in 2018.
Europe follows APEJ in terms of construction material testing equipment units sold in 2018. Demand remains concentrated in Germany, whereas the UK also accounts for a significant share of demand in the construction materials testing equipment market.
Anyone interested in purchasing the full FMI study can do so by visiting https://www.futuremarketinsights.com/reports/construction-material-testing-equipment-market