July 23, 2024

Rising Focus on Infrastructure Development to Boost the Growth of Construction Material Testing Equipment Market

The global Construction Material Testing Equipment Market is estimated to be valued at US$3.17 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Construction material testing equipment are used to test various construction materials such as concrete, aggregates, asphalt and others. These equipment ensure the quality and safety of construction materials as per the industry standards. Testing equipment include rebound hammer to test concrete structures surface hardness, rockwell and vickers hardness testers to test aggregates and soil hardness, compressive strength testing machine for concrete cubes and cylinders, sieve shaker to test aggregates particle size distribution and others. Demand for such testing equipment has risen significantly with increasing infrastructure development activities globally.

Market key trends:
One of the key trends in the construction material testing equipment market is growing infrastructure investments in emerging economies. Countries like China, India, Indonesia are investing heavily in development of transportation, housing and commercial infrastructure. For instance, India’s national infrastructure pipeline projects worth US$ 1.5 trillion by 2025. This is spurring the demand for quality and standard compliant construction materials, driving the need for regular material testing. Advanced digital technology is another trend, with development of smart connected testing devices for remote monitoring and data analysis. This allows real-time oversight and quality certification of materials during construction projects. Greater automation and portability of testers is also being seen to boost efficiency and meet field-testing requirements.
Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as construction material testing equipment requires high capital investment and technical expertise. However, industry growth provides opportunities.

Bargaining power of buyers: Buyers have moderate bargaining power due to standardized products and availability of substitute products. Large buyers can negotiate on price and technical service.

Bargaining power of suppliers: Key raw materials are commoditized providing suppliers limited power. Industry players either develop in-house or forge long term tie-ups to secure supplies.

Threat of new substitutes: Threat is low as products require compliance, reliability cannot be compromised and switching costs are high. New technologies may emerge slowly.

Competitive rivalry: Intense competition exists among fragmented player base competing on pricing and quality. Industry is marked by high regional consolidation with few global leaders.

Key Takeaways

The global Construction Material Testing Equipment market is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing infrastructure development worldwide. Rapid urbanization and investment in smart cities across emerging economies will augment the market expansion.

Regionally, Asia Pacific dominates currently owing to massive ongoing infrastructure projects. China represents largest construction sector globally while India is the fastest growing market in the world. North America and Europe remain other major regional markets but are expected to grow at a moderate pace.

Key players operating in the construction material testing equipment market include Aimil Ltd., ELE International, Controls S.p.A., Humboldt Mfg. Co., Matest S.p.A., CMT Equipments, Canopus Instruments, Applied Test Systems, OLSON INSTRUMENTS INC., Qualitest International Inc., Papworths Construction Testing Equipment, and Zwick Roell Group among others. This industry is characterized by high regional consolidation, with few leading global players. Owing to the intensive competitive scenario, industry is expected to witness significant strategic initiatives to strengthen their industry foothold and expand regional presence. For instance, in June 2017, University of Missouri System collaborated with Missouri University of Science and Technology for the development of Advanced Construction and Materials Laboratory (ACML), to address public infrastructure challenges