Market Overview:
The global residual stress measuring equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for residual stress measuring equipment from various end-use industries, such as aerospace, industry, material science, and others. In addition, the growing awareness about the benefits of using residual stress measuring equipment is also contributing to the growth of this market. On the basis of type, drilling devices are expected to account for a major share of the global residual stress measuring equipment market during the forecast period. This can be attributed to their ability to measure both surface and subsurface stresses with high accuracy.
Product Definition:
Residual stress measuring equipment is used to measure the residual stress in a material. The importance of residual stress measurement is that it can help to improve the material's performance and life.
Drilling Device:
Drilling device is used to measure the residual stress in the drilling equipment. It's major applications are in offshore drilling, where it's used to monitor and control vibrations, rotations and shocks that may cause damage to the drill bit or drill pipe. The market for drilling devices is expected to witness significant growth over the forecast period owing to increasing demand from oil & gas industry due high crude oil demand across various regions including Europe, Asia Pacific and North America.
X-ray Diffractometer:
A x-ray diffractometer is a device that is used to measure the stress in materials. It works on the principle of Bragg's law which states that incident X-rays are reflected by the crystals and transmitted back to an detector where they are analyzed. The variation in crystal shape is related to variations in stress and deformation due to thermal or other treatments.
Application Insights:
The industry application segment accounted for the largest market share in 2017 and is projected to continue its dominance over the forecast period. The use of residual stress measuring equipment in aerospace components, such as turbine blades, fuselage panels, airframes and landing gear doors is anticipated to drive growth. In addition, increasing demand for these devices from other applications including automotive & transportation and industrial machinery is expected to fuel industry expansion over the coming years.
Residual stress measuring equipment finds wide application scope in industries including oil & gas (for testing of pipe fittings) chemical (for testing of tank walls), power generation (turbine blades), cement production (cementite mortar) among others. Growing demand for energy resources along with rapid urbanization has led to a significant rise in construction activities across developing countries which has further increased product penetration into this sector over the past few years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for drilling machines in the region due to rapid expansion of infrastructure and manufacturing sector. In addition, rising number of oil & gas exploration activities in countries such as China, India, and Australia are anticipated to drive product demand over the forecast period.
Europe was estimated as the second-largest market for residual stress measuring equipment after Asia Pacific in 2017 on account of high usage rates for aerospace applications coupled with stringent safety standards implemented by governing bodies such as EASA (European Aviation Safety Agency) and FAA (Federal Aviation Administration). Stringent regulations regarding aviation safety are expected to further boost product penetration across this industry vertical over the next eight years.
Growth Factors:
- Increasing demand for residual stress measuring equipment from the automotive and aerospace industries due to the growing need for lightweight and durable components.
- Rising popularity of advanced manufacturing techniques such as additive manufacturing (AM) and 3D printing, which require accurate measurement of residual stress levels in parts produced through these processes.
- Growing demand for quality control in production environments, necessitating reliable and accurate methods for measuring residual stress levels in parts and components.
- Advances in technology that have led to the development of new types of residual stress measuring equipment, such as portable devices that can be used on-site at factories or other production facilities.
- The increasing use of simulation software to predict residual stresses in parts prior to their manufacture, which has made it easier to identify potential problem areas and take corrective action before any damage is done
Scope Of The Report
Report Attributes
Report Details
Report Title
Residual Stress Measuring Equipment Market Research Report
By Type
Drilling Device, X-ray Diffractometer, Barkhausen Noise Equipment
By Application
Aerospace, Industry, Material, Others
By Companies
Sonats, Stresstech, Durham Instruments, Veqter, Innerspec, Rigaku Corporation, Proto Manufacturin, Hoton Production Laboratory, Ltd., Quantum Design, Sint Technology s.r.l., Jinan Sigma Technology Co., LTD, Nanjing Juhang Technology Co., LTD, Jinan Bona Electromechanical Equipment Co., LTD, Jinan Chiao Electromechanical Equipment Co., LTD, Shandong Huayun Electromechanical Technology Co. LTD
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Residual Stress Measuring Equipment Market Report Segments:
The global Residual Stress Measuring Equipment market is segmented on the basis of:
Types
Drilling Device, X-ray Diffractometer, Barkhausen Noise Equipment
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Aerospace, Industry, Material, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sonats
- Stresstech
- Durham Instruments
- Veqter
- Innerspec
- Rigaku Corporation
- Proto Manufacturin
- Hoton Production Laboratory, Ltd.
- Quantum Design
- Sint Technology s.r.l.
- Jinan Sigma Technology Co., LTD
- Nanjing Juhang Technology Co., LTD
- Jinan Bona Electromechanical Equipment Co., LTD
- Jinan Chiao Electromechanical Equipment Co., LTD
- Shandong Huayun Electromechanical Technology Co. LTD
Highlights of The Residual Stress Measuring Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Drilling Device
- X-ray Diffractometer
- Barkhausen Noise Equipment
- By Application:
- Aerospace
- Industry
- Material
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Residual Stress Measuring Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Residual stress measuring equipment is a type of scientific instrument used to measure the amount of residual stress in materials after they have been subjected to an applied force.
Some of the key players operating in the residual stress measuring equipment market are Sonats, Stresstech, Durham Instruments, Veqter, Innerspec, Rigaku Corporation, Proto Manufacturin, Hoton Production Laboratory, Ltd., Quantum Design, Sint Technology s.r.l., Jinan Sigma Technology Co., LTD, Nanjing Juhang Technology Co., LTD, Jinan Bona Electromechanical Equipment Co., LTD, Jinan Chiao Electromechanical Equipment Co., LTD, Shandong Huayun Electromechanical Technology Co. LTD.
The residual stress measuring equipment market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Residual Stress Measuring Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Residual Stress Measuring Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Residual Stress Measuring Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Residual Stress Measuring Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Residual Stress Measuring Equipment Market Size & Forecast, 2018-2028
4.5.1 Residual Stress Measuring Equipment Market Size and Y-o-Y Growth
4.5.2 Residual Stress Measuring Equipment Market Absolute $ Opportunity
Chapter 5 Global Residual Stress Measuring Equipment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Residual Stress Measuring Equipment Market Size Forecast by Type
5.2.1 Drilling Device
5.2.2 X-ray Diffractometer
5.2.3 Barkhausen Noise Equipment
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Residual Stress Measuring Equipment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Residual Stress Measuring Equipment Market Size Forecast by Applications
6.2.1 Aerospace
6.2.2 Industry
6.2.3 Material
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Residual Stress Measuring Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Residual Stress Measuring Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Residual Stress Measuring Equipment Analysis and Forecast
9.1 Introduction
9.2 North America Residual Stress Measuring Equipment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Residual Stress Measuring Equipment Market Size Forecast by Type
9.6.1 Drilling Device
9.6.2 X-ray Diffractometer
9.6.3 Barkhausen Noise Equipment
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Residual Stress Measuring Equipment Market Size Forecast by Applications
9.10.1 Aerospace
9.10.2 Industry
9.10.3 Material
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Residual Stress Measuring Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe Residual Stress Measuring Equipment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Residual Stress Measuring Equipment Market Size Forecast by Type
10.6.1 Drilling Device
10.6.2 X-ray Diffractometer
10.6.3 Barkhausen Noise Equipment
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Residual Stress Measuring Equipment Market Size Forecast by Applications
10.10.1 Aerospace
10.10.2 Industry
10.10.3 Material
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Residual Stress Measuring Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Residual Stress Measuring Equipment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Residual Stress Measuring Equipment Market Size Forecast by Type
11.6.1 Drilling Device
11.6.2 X-ray Diffractometer
11.6.3 Barkhausen Noise Equipment
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Residual Stress Measuring Equipment Market Size Forecast by Applications
11.10.1 Aerospace
11.10.2 Industry
11.10.3 Material
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Residual Stress Measuring Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America Residual Stress Measuring Equipment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Residual Stress Measuring Equipment Market Size Forecast by Type
12.6.1 Drilling Device
12.6.2 X-ray Diffractometer
12.6.3 Barkhausen Noise Equipment
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Residual Stress Measuring Equipment Market Size Forecast by Applications
12.10.1 Aerospace
12.10.2 Industry
12.10.3 Material
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Residual Stress Measuring Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Residual Stress Measuring Equipment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Residual Stress Measuring Equipment Market Size Forecast by Type
13.6.1 Drilling Device
13.6.2 X-ray Diffractometer
13.6.3 Barkhausen Noise Equipment
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Residual Stress Measuring Equipment Market Size Forecast by Applications
13.10.1 Aerospace
13.10.2 Industry
13.10.3 Material
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Residual Stress Measuring Equipment Market: Competitive Dashboard
14.2 Global Residual Stress Measuring Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sonats
14.3.2 Stresstech
14.3.3 Durham Instruments
14.3.4 Veqter
14.3.5 Innerspec
14.3.6 Rigaku Corporation
14.3.7 Proto Manufacturin
14.3.8 Hoton Production Laboratory, Ltd.
14.3.9 Quantum Design
14.3.10 Sint Technology s.r.l.
14.3.11 Jinan Sigma Technology Co., LTD
14.3.12 Nanjing Juhang Technology Co., LTD
14.3.13 Jinan Bona Electromechanical Equipment Co., LTD
14.3.14 Jinan Chiao Electromechanical Equipment Co., LTD
14.3.15 Shandong Huayun Electromechanical Technology Co. LTD
