Hopkinson Pressure Bar Market Report Overview
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The gglobal hopkinson pressure bar market was USD 196.5 million in 2020 and is projected to touch USD 410.3 million by 2031, exhibiting a CAGR of 6.9% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the hopkinson pressure bar market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The hopkinson pressure bar, also known as the Split Hopkinson Pressure Bar (SHPB), is an experimental apparatus used to study the dynamic behavior of materials under high strain rates. It was developed by Bertram Hopkinson in the early 1900s and has since become a widely used technique in the field of materials science and engineering. In addition, the basic setup of a hopkinson pressure bar consists of three main components: a striker bar, an incident bar, and a transmission bar. The striker bar is a long, slender cylindrical rod that impacts one end of the incident bar, generating a compressive stress wave. The incident bar transmits this stress wave to the specimen or material being tested.
The market is predicted to rise steadily during the forecast period owing to growing demand for hopkinson pressure bar components and related testing equipment by ongoing research and development activities in areas such as aerospace, defence, automotive, impact engineering, and materials characterization. Furthermore, the market is bifurcated by type, by application, and by geographical expansion of the market. Based on the type of product, Φ<20mm, Φ20mm-Φ80mm, and Φ>80mm are available in the market. Whereas, university and industry are the most popular application segment to create demand for the equipment.
COVID-19 Impact: Pandemic Hit Several Research Activities Due to Lockdown Limitations
The COVID-19 pandemic impacted various markets significantly worldwide including, hopkinson pressure bar market. Also, the global economy experienced a downturn due to lockdown measures, travel restrictions, and reduced consumer spending, leading to disruptions in supply chains and decreased demand for many goods and services. Further, the HPB is primarily utilized in research laboratories and institutions for scientific experiments rather than being a commercial product. While the pandemic affected research activities and funding in some institutions, the market has faced a slowdown in the demand for the equipment. However, as the world economy has begun to recover, the market is expected to witness a positive growth rate in the coming years.
Latest Trends
"Trend of Miniaturization and Portability Expand the Market Scope"
The market is projected to observe significant growth due to emerging trends and innovations such as miniaturization and portability; efforts have been made to develop compact and portable versions of the HPB apparatus, allowing for more flexibility in experimental setups and enabling field testing applications. Along with this, a trend of advanced sensor technologies in the HPB market is gaining traction. As continuous improvements in sensor technologies have enabled more precise and accurate measurements of stress and strain in HPB experiments. This includes the development of high-frequency strain gauges and advanced data acquisition systems that capture dynamic responses with greater resolution. Thereby, these trends are expected to contribute to propelling the hopkinson pressure bar market growth over the forecast 2022-2028.
Hopkinson Pressure Bar Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into Φ<20mm, Φ20mm-Φ80mm, and Φ>80mm.
- By Application Analysis
Based on application, the market can be divided into University, Industry, and Other.
Driving Factors
"Increasing Research and Development Activities Aid the Growth of the Market"
Growing research and development activities is one of the key driving factors to aid market growth. The demand for HPB systems is primarily driven by the need to conduct research and development in the field of materials science and engineering. As industries strive to develop new and improved materials for various applications, HPB provides a valuable tool for studying material behaviour under high strain rates which is likely to spike the demand for the hopkinson pressure bar in the coming years.
"Material Characterization and Testing Lift the Demand for HPB to Drive Market Development"
The market is also driven by material characterization, as HPB systems offer a unique capability to characterize the dynamic mechanical properties of materials. This includes measuring parameters such as stress-strain behaviour, yield strength, fracture toughness, and deformation mechanisms under high strain rates. Such information is crucial for designing materials that can withstand impact, blast, and other dynamic loading conditions which will support the market’s growth.
Restraining Factors
"High Cost of Equipment Can Curb the Market Expansion"
Since HPB systems can be complex and expensive to set up they require specialized components, sensors, data acquisition systems, and infrastructure. Thus, the high cost associated with acquiring and maintaining HPB equipment may limit the market’s progress as well as its adoption, particularly for smaller research institutions or organizations with limited budgets.
Hopkinson Pressure Bar Market Regional Insights
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"Asia Pacific Dominates the Market due to Extensive Manufacturing and Research Sectors"
As per market research, the HPB consumer market exhibits a notable concentration in the Asia Pacific region, particularly in China. The region holds a significant hopkinson pressure bar market share, indicating a strong demand for HPB equipment. Furthermore, China, as a major player in the global manufacturing and research sectors, has a robust market for HPB systems. The country's focus on industrial development, research initiatives, and technological advancements has propelled its demand for materials testing and characterization equipment, including HPB. The presence of numerous research institutions, universities, and industrial R&D centres further contributes to the concentrated market in China.
Key Industry Players
"Key Players Focus on Improve HPB Technologies to Cater to Researchers’ Demand for the Equipment"
With regard to key players, these companies stimulate market revenue by manufacturing and supplying HPB components, offering complete HPB systems, investing in research and development to improve HPB technologies, and providing services such as technical support, calibration, maintenance, and training. By catering to the demand of researchers, institutions, and industries involved in materials testing and characterization, the major key players contribute to the growth and revenue generation of the HPB market.
List of Market Players Profiled
- REL
- Luoyang Levy
- Thiot Ingenierie
- Xi'an Baina
- As many as
- Hefei Jiangshui
- Luoyang Daosheng
- Sichuan Top
- Ruiling Technology
- Nanjing Hop
Report Coverage
This report defines the hopkinson pressure bar market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 196.5 Million in 2020 |
Market Size Value By |
US$ 410.3 Million by 2031 |
Growth Rate |
CAGR of 6.9% from 2020 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types and Application |
Frequently Asked Questions
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What value is the global hopkinson pressure bar market expected to touch by 2031?
The global hopkinson pressure bar market is expected to touch USD 410.3 million by 2031.
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What CAGR is the hopkinson pressure bar market expected to exhibit during 2031?
The hopkinson pressure bar market is expected to exhibit a CAGR of 6.9% over 2031.
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What are the key driving factors of the hopkinson pressure bar market?
The driving factors of the hopkinson pressure bar market are the increasing research and development activities and advanced material characterization and testing.
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What are the key players in the hopkinson pressure bar market?
The key players in the market include: REL, Luoyang Levy, Thiot Ingenierie, Xian Baina, As many as, Hefei Jiangshui, Luoyang Daosheng, Sichuan Top, Ruiling Technology, Nanjing Hop are the top players in the hopkinson pressure bar market.
