Test Benches Market By Application (Industrial Manufacturing And Engineering, Semiconductor And Electronics, Power Generation And Utilities, Automotive And Transportation, Oil And Gas) - Growth, Future Prospects, Competitive Analysis And Forecast, 2016-2023

Test benches refer to testing assembly used for calibration and testing of various equipment/components across different application segments. Test benches are used for testing components such as turbine, combustion engines, safety valves, hydraulic hoses and others. Some of the popular applications of test benches include automotive & aerospace, power & utilities, oil & gas, electronics and others. Market players typically provide customized solutions to their consumers depending upon the end-use application. Amongst these, automotive & aerospace and power & utilities are the largest consumers of test benches. The global test benches market is expected to witness steady growth with steady growth in its end-use application segment including automobile and transportation; industrial manufacturing and oil and gas. This growth is influencing the key participant across the value chain to invest in industry.

The global test benches market was valued at US$ 926.4 Mn in 2015 and is expected to reach US$ 1,331.0 Mn by 2023, growing at a CAGR of 4.7% over the forecast period 2016 – 2023.

This market research study includes in-depth analysis of market driving and restraints related to test benches industry. The research report also includes current and future market trends in the global as well as regional test benches market. The report also includes comprehensive analysis of technology development, pricing and demand-supply trends related to test benches. The report also covers high level analysis included in the report such as industry competitive assessment, value chain analysis and attractive analysis helps market players and trade partners across the value chain to identify key potential area in the industry and formulate their strategies. .

Moreover, the study include provides market estimates and forecast for different application of test benches and its market size in terms of both volume (number of units sold) and revenue (US$ Mn). The test benches market is classified into its applications and estimates and forecast is provided for each of this segment. The report also includes cross sectional analysis on the regional basis i.e. regional market size by mining methods and application. This study includes market historical market size (2013 & 2014), market estimate (2015) and forecast for the period 2016 – 2023 in terms of volume and revenue. The report also includes market estimates and forecast of test benches market for major countries.

The report includes profiles of major players in the global test benches industry. Company profiles include detailed information about business strategies, product portfolio, recent developments and regional positioning of these manufacturers. The report also provides in-depth analysis about market competition and positioning of key market players along with their market winning strategies.

The global test benches market is classified into following categories:

  • By Application
    • industrial manufacturing and engineering
    • semiconductor and electronics
    • power generation and utilities
    • automotive and transportation
    • oil and gas and other (Research laboratories and institutes, packaging etc)
  • By Region
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • Rest of the World
      • Latin America
      • Middle East and Africa

Based on end-use applications test benches market is classified into industrial manufacturing and engineering, semiconductor and electronics, power generation and utilities, automotive and transportation, oil and gas and other (Research laboratories and institutes, packaging etc).

Automotive and transportation is the largest application segment for test benches. This segment accounted for revenue share of 22.9% in the overall test benches market by application in 2015. The global market for test benches used for automotive and transportation is expected to grow steadily with increasing production of motor vehicles, aircrafts and rail bogies. In Automobile industry test benches are used for testing complete powertrains of conventional and hybrid construction in any configuration as well as single components like electric and wheel hub motors, internal combustion engines, gearboxes, axles, clutches, and shafts. Rising demand and production of motor vehicles is expected increase the demand for test benches used in this application. In addition, increasing number of marine, railway and air travelers putting pressure on countries and service providers to expand these networks and facilities. This is expected to increase the production of railway bogies, aircrafts and ships which in turn spur the demand for test benches used in these industries.

The mineral power generation and utilities sector is expected to witness the fastest growth with rising investment in renewable energy sources. The revenue share of this segment is expected to reach 20.6% by 2023 from 19.7% in 2015.

Global Test Benches Market for Automotive and Transportation Application, Revenue and Volume, 2013 – 2023, (US$ Mn and Units)

Test Benches Market
 

 

The global test benches market is classified into four major regions i.e. North America, Europe, Asia Pacific and Rest of the World (RoW). The Rest of the test benches market is further classified into Middle East and Africa (MEA) and Latin America.

In addition, we have covered following major countries in each regional market:

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East and Africa

Asia Pacific is the largest market for test benches; in addition the region is also anticipated to be the fastest growing regional market. Asia is the most dynamic part of the global economy. However, the region is facing challenges from weak global recovery, dull global trade and short lived effect of China’s growth transition. Despite the challenges, the region is positioned to undergo several reforms and developments. The region is strengthening its resilience to the global market risks; the policymakers are introducing structural reforms to raise productivity and create monetary stability while simultaneously support demand.

Test Benches Market

 

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Published Date:  Oct 2016
Category:  Automation & Process Control
Report ID:   58144
Report Format:   PDF
Pages:   120
Rating:    4.1 (40)
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