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Construction Material Testing Equipment Market

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Construction Material Testing Equipment Market report categorizes global market on the basis of testing equipment, and end-user - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Construction Material Testing
Equipment Market - Global Industry
Insights, Trends, 2018–2026
Construction material testing equipment finds significant applications in the
infrastructure building process, primarily owing to the requirement to ensure the safety
of the humans, goods and amenities in the building. Requirement of elimination of
hazards from every individual building procedures, from selection of lands, concrete &
aggregates, cements, bituminous materials, steel, masonry, steel to the mission critical
testing of pavements and roads.
Requirement for compliance with the national and state directives and
regulations regarding the infrastructure will further propel market growth
Most residents are unaware of the standards required for the residential and
commercial buildings. In order Requirement to keep a check on human safety, national
and state regulatory authorities have established various standards, directives and
regulations for these buildings. Regulations also cover the different infrastructure
categories that include utilities, industries, telecommunication, transport, and others. For
instance, Australasian Procurement and Construction Council in Australia,
Environmental Protection Agency and national Association of Home Builders in U.S.,
and Construction Products Regulation by European Council in EU are few among the
many regional bodies that are responsible for the building standards. Requirement of
compliance with these regulatory bodies and ensure the requirements are met,
construction material equipment market will witness substantial growth over the forecast
period.
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Proliferation of smart cities and connected infrastructure will propel the industry
growth through 2025
According to United Nations’ press release in July 2014, around 54% of the global
population lived in the urban areas, which is expected to account for overall 66% by
2050. Rapid urbanization across all the major global economies, specifically in the BRIC
countries is expected to drive the demands for the infrastructure. Moreover, increasing
population and government interests in the smart city infrastructures will inadvertently
fuel the growth prospects. According to the white paper report by Technology that was
sponsored by the United Parcel Services and Consumer Technology Association, the
smart city initiatives rose to over 235 in 2016, an estimated surge of over 38% in
comparison to 2013. Proliferation of such infrastructural activities are expected to
present extensive growth prospects to the construction material testing equipment
market.
Residential and commercial infrastructure is expected to dominate the global
demands over the next few years
Growth of residential housing is anticipated to be the primary growth driver for all the
other associated infrastructure that includes transportation, utilities, and other
commercial activities. However, according Coherent Market Insights, there have been
several incidences of paradigm shifts with the development of commercial and
manufacturing activities that in turn led to traction of residential buildings in the vicinity.
In both scenarios, residential segment is expected to register highest traction, which is
expected to present highest demands for the construction material testing equipment
market.
Owing to presence of largest population base, highest number of emerging economies,
significant growth in infrastructural activities, Asia Pacific is expected to remain the most
lucrative regional segment through the forecast period. Trends such as connected
vehicles, smart factories and connected infrastructure is expected to drive the demands
in other developed economies that include U.S. and the Western Europe. Moreover,
large budget projects in the Middle East which specifically includes Gulf Cooperation
Council will provide considerable product requirements.
Chief players in the construction material testing equipment market include Aimil,
Humboldt Mfg., ELE International, CONTROLS Group, and Matest. 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.
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