Video Extensometers Market Size, Share, Growth & Industry Analysis, By Type (Resolution Less than 0.5μm, Resolution Between 0.5-2μm and Resolution More than 2μm), By Application (Plastic Measurement, Metal Measurement, Composite Material Measurement and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Video Extensometers Market Report Overview

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The global Video Extensometers Market size is expected to be USD 56 million in 2022 and is projected to touch USD 83.78 million by 2031, at a CAGR of 4.7% during the forecast period.

The extensometer is an instrument for measuring minute deformations, as of a test specimen. Furthermore, it is caused by tension, compression, bending, or twisting. It is also commonly known as a strain gauge. On the other hand, a video extensometer is a device that is capable of performing stress/strain measurements of certain materials, by capturing continuous images of the specimen during test, using a frame grabber or a digital video camera attached to a personal computer (PC). Furthermore, the functioning of a video extensometer is conducted by the Specimens are often provided with lines, dots or various patterns of black-and-white marks. The sensors and software algorithms within the video extensometer detect the motion of these marks and thus the change in length/displacement during the test.

Additionally, the market is inclusive of three segmented applications such as plastic measurement, metal measurement, composite material measurement and others end consumers. Firstly, plastic mmeasuring is gauge and is the added conventional imposing volume of polythene although, micron is the new metric standard. Moreover, one mutual base amid the measurements is, the larger the gauge, millimeter and micron the denser the polythene. Secondly, metal measurement is shortened with the letters “ga” and there are a minimal variations gauge patterns. Moreover, inclusive of the producer’s standard gauge, which measures the density of galvanized, stainless steel and regular metals. However, the Brown and Sharpe gauge is consumed to evaluate, aluminum, brass and other non-ferrous metals. On the other hand, composite material measurement is the usage of equations to determine the precision solely by calculating the fiber stiffness and strengths. Furthermore, as well as the volume segment of the components.

COVID-19 Impact: COVID-19 Virus Continued Expansion Globally and Implied Lockdowns

The global COVID-19 pandemic has been unprecedented and staggering, with the video extensometers market experiencing lower-than anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The unmatched expansion of the COVID-19 virus brought an immense problems to governments and businesses on a global scale, which led to the international agencies terming it as a pandemic and which engaged a decrease in the global demand and laid upon unwanted trials to numerous industries and their markets. Moreover, the relentless growth of the COVID-19 virus also introduced for an insensitive and rigid lockdown, which drove several organizations into closure and implementing inconsiderate budgets cuts to maintain survival within their markets. However, restraints and stiff instructions on movement harmed the market because, there were no volumes of demand from the main consuming applications such as plastic measurement, metal measurement, composite material measurement and others end consumers. This led to an overall decrease in growth of the market.

LATEST TRENDS

"Rising Demand of the Product in Diverse Markets Due to its Beneficial Properties"

The demand for video extensometer in diversified market is continuously growing in the production industries, laboratories and clinical researches due to numerous welfares accessible by the video extensometers such as no contact with sample, high resolution, and high accuracy. Furthermore, a high demand of the video extensometers for determination of physical properties of the high modulus examples such as metals, high elongation materials and subtle samples. Due to this factor, the market is anticipated to experience substantial growth percentages in the current and foreseeable periods.

Video Extensometers Market Segmentation

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• By Type

Based on type; Resolution less than 0.5μm, resolution between 0.5-2μm and resolution more than 2μm

Resolution between 0.5-2μm is the leading type in this segment

• By Application

Based on application; Plastic measurement, metal measurement, composite material measurement and others

Plastic measurement is the leading application in this segment

DRIVING FACTORS

"Product Applications Assists in Replacing Competitors to Augment Market Growth"

The video extensometers are a preferred alternative for contact extensometers and strain gauges. Furthermore, increased adoption of the product is accounted for as the video extensometers have a more productive and efficient influence on accuracy and overall outcomes. Moreover, the product is consumed largely because of emergent requirements of detailed and precise outcomes in determination of variated boundaries in the testers. This leads towards the video extensometers market growth.

"Advancements in the Products Computer System to Boost Market Growth"

There are segmented forms of extensometer in the market, but as there are developments in the computer software’s and the video technology. Moreover, the new and improved production of video extensometer is widely used all over the globe, as it provides higher quality, more details, storage and stability while assisting consumers to use it in rough conditions too. Hence, these applications grows the demand and supply while also boosting the video extensometers market share.

RESTRAINING FACTORS

"High Expenditure for Product Maintenance Restricts Market Growth"

The main drawback being faced by consumers in the video extensometers market which is hampering the growth of the market, is the high expenditure and high maintenance associated with the video extensometers. Furthermore, for operating the video extensometers there is need for professionals which is also costly to employ as the right skills are needed. These such factors are holding back the markets growth.

Video Extensometers Market Regional Insights

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"Rapid Industrialization to Foster Market Growth in North America"

North American region holds the title of leading region over others in the market, due to rapid growth in industrialization in the region. Furthermore, the presence of leading manufacturing industries in North America stimulates the products circulation within the market and the region. Hence, this factor grows the overall demand and supply of the video extensometers in this region.

KEY INDUSTRY PLAYERS

"Key Players Strategize to Raise Awareness of the Product"

The key market players aim to raise awareness of the product and its application within the market and in other diversified markets. They develop strategies to accomplish this, such as improving the levels of advertising shown, conducting increased research and development activities to cater to consumers wants and attract a higher share of consumers. Moreover, these strategies also assist the key players to gain higher sales volume and increase their respective market share and position in the markets.

List of Market Players Profiled

• Zwick Roell (Germany)
• Instron Limited (U.S.)
• Ametek (U.S.)
• Shimadzu (Japan)
• MTS (India)
• Imetrum (U.K.)
• Epsilon Tech (India)
• BESMAK (India)
• 3R labo (France)
• Qualitest (U.K.)

INDUSTRY DEVELOPMENT

• March 2018: IMETRUM LTD., the UK based manufacturer of the video extensometer, launched the Universal video extensometer with video analysis software, Compatibility with a wide range of test frames, and can deliver resolutions up to 3 micro strain / 10 nanometers.
• August 2018: Epsilon Technology Corp, the US based manufacturer of the video extensometer, launched precision optical video extensometer, with data rates up to 3000 Hz, high camera resolution for better visual ability.

REPORT COVERAGE

This report consists of the types in the video extensometers market, side by side highlighting the latest trends along with driving and restraining factors within the market. Additionally, this report highlights the key industry players and their current strategies and reasoning of why the leading region holds its title.