Composites Testing Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the composites testing market, focusing on key insights, market trends, growth forecasts, and the competitive landscape from 2023 to 2033.
Metric | Value |
---|---|
Study Period | 2023 - 2033 |
2023 Market Size | $5.60 Billion |
CAGR (2023-2033) | 7.2% |
2033 Market Size | $11.45 Billion |
Top Companies | Intertek Group plc, SGS S.A., Bureau Veritas |
Last Modified Date | 15 Nov 2024 |
Composites Testing Market Report (2023 - 2033)
Composites Testing Market Overview
What is the Market Size & CAGR of Composites Testing market in 2023?
Composites Testing Industry Analysis
Composites Testing Market Segmentation and Scope
Request a custom research report for industry.
Composites Testing Market Analysis Report by Region
Europe Composites Testing Market Report:
Europe's composites testing market stood at $1.95 billion in 2023 and is expected to double to $3.98 billion by 2033. Stringent regulations and a strong focus on safety standards in automotive and aerospace industries fuel this growth.Asia Pacific Composites Testing Market Report:
In 2023, the composites testing market in the Asia Pacific region is valued at approximately $1.04 billion, projected to reach $2.12 billion by 2033. The growth is driven by the expanding automotive and aerospace industries, alongside increased government investments in infrastructure projects.North America Composites Testing Market Report:
With a market size of $1.89 billion in 2023, North America is anticipated to expand to $3.86 billion by 2033. The region benefits from strong aerospace and defense sectors, driving demand for advanced composites testing solutions.South America Composites Testing Market Report:
The South American market for composites testing is valued at around $0.41 billion in 2023, with expectations to grow to $0.85 billion by 2033. The growth is supported by evolving manufacturing capabilities and growing interest in renewable energy applications.Middle East & Africa Composites Testing Market Report:
The composites testing market in the Middle East and Africa is estimated at $0.31 billion in 2023, with expected growth to $0.64 billion by 2033. Increased infrastructural developments and penetration of composites in the energy sector are key growth drivers.Request a custom research report for industry.
Composites Testing Market Analysis By Testing Method
Global Composites Testing Market, By Testing Method Market Analysis (2023 - 2033)
In 2023, the mechanical testing segment accounts for $3.64 billion, approximately 65.05% market share. Non-destructive testing, valued at $1.37 billion (24.45%), and thermal testing, at $0.59 billion (10.5%), are also vital, with expected growth rates driven by evolving technological standards and material requirements.
Composites Testing Market Analysis By Material
Global Composites Testing Market, By Material Market Analysis (2023 - 2033)
In 2023, the glass fiber composites segment is valued at $3.64 billion, holding 65.05% market share. Following it, carbon fiber composites are valued at $1.37 billion (24.45%), and aramid fiber composites at $0.59 billion (10.5%), with strong forecasts as demand for light and durable materials increases.
Composites Testing Market Analysis By End User
Global Composites Testing Market, By End-User Industry Market Analysis (2023 - 2033)
Aerospace leads the composites testing market with a valuation of $2.27 billion in 2023, expected to rise to $4.63 billion by 2033, maintaining a 40.45% market share. The automotive segment, valued at $1.30 billion (23.24%), and construction at $0.80 billion (14.2%), show similar growth trajectories owing to new regulations and sustainability concerns.
Composites Testing Market Analysis By Region Specific Application
Global Composites Testing Market, By Application Type Market Analysis (2023 - 2033)
Structural applications dominate with $3.64 billion (65.05% share) in 2023, while aerodynamic applications show $1.37 billion (24.45%). Electrical applications, valued at $0.59 billion (10.5%), reflect growth from increased applications in electrically powered vehicles and renewable energy technologies.
Composites Testing Market Analysis By Service Provider
Global Composites Testing Market, By Service Provider Market Analysis (2023 - 2033)
In 2023, certification bodies lead with a market size of $3.64 billion (65.05%). Testing laboratories and consultancies account for $1.37 billion and $0.59 billion, respectively. As industries increasingly seek compliance, growth in these segments is significant.
Composites Testing Market Trends and Future Forecast
Request a custom research report for industry.