Specific Gravity Bench Apparatus Market to Witness a Healthy Growth of US$ 78.4

Future Market Insights (FMI) has recently published a report titled “Specific Gravity Bench Apparatus Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027.” Specific gravity bench apparatus measures the weight of the samples (suspended in liquid) and determines the specific gravity of aggregates, bituminous rocks, hardened concrete and similar materials. In this report, the details of specific gravity bench apparatus and its components, which include specific gravity tanks, buoyancy balances, weighing cradles, specific gravity frames, circulators and others, which find applications in construction, mining and other industries related to the market.

The global specific gravity bench apparatus market is expected to grow at a CAGR of 1.8% during the forecast period. The market was valued at US$ 65.7 Mn in 2017, and is projected to grow significantly to reach US$ 78.4 Mn by 2027 due to an increase in the demand of the specific gravity bench apparatus in laboratories and due to the rapid growth of construction industry. 

In this report, FMI has segmented the global specific gravity bench apparatus market on the basis of component type, end-user, sales channel and region. By component type, the specific gravity bench apparatus market is segmented into buoyancy balance, specific gravity tank, weighing cradles, specific gravity frame, heaters, circulators, thermometers and other accessories. The heater sub-segment of the specific gravity bench apparatus market is expected to grow at a relatively higher CAGR owing to the high maintenance of heaters in the specific gravity bench apparatus. 

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Based on the sales channel, the specific gravity bench apparatus market is sub-segmented into OEMs, online sales and resellers. Rapid increase in Internet usage and growth in the number of e-commerce websites are some of the major factors expected to promote the growth of the online sales sub-segment of the specific gravity bench apparatus market. Furthermore, the OEM sub-segment of the market has a relatively higher CAGR. However, the online sale sub-segment of the market is expected to capture the largest market share of the global specific gravity bench apparatus market. 

According to the FMI analysis, Humboldt Mfg. Co.; Gilson Company, Inc.; Cooper Technology; Controls S.p.A. and Durham Geo-Enterprises, Inc., are among the leading companies of the specific gravity bench apparatus market. These companies constitute a market share of around 40% of the specific gravity bench apparatus market. Humboldt Mfg. Co. has a wide and diversified product portfolio and is continuously expanding its presence in various regions around the world. Gilson Company, Inc. is also a major supplier and manufacture of specific gravity bench apparatus and generates a substantial portion of its revenue through the online channel. Moreover, Cooper Technology and Control S.p.A. are the prominent manufacturers of specific gravity bench apparatus and are capturing a large market share in terms of revenue in the market. 

Furthermore, on the basis of geography, the specific gravity bench apparatus market is sub-segmented into North America, Latin America, Europe, Japan, APEJ (the Asia Pacific Excluding Japan) and Middle East & Africa. The specific gravity bench apparatus market in North America is expected to dominate the global specific gravity bench apparatus market due to the presence of a large number of manufactures in the region. APEJ is also expected to capture a substantial market share in the global specific gravity bench apparatus market owing to the development of the roads, new highways and railway tracks. Moreover, the specific gravity bench apparatus market in Europe and Middle East & Africa is also expected to grow at moderate growth rate owing to an increase in the laboratorial usage of specific gravity bench apparatus. 

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According to FMI analysis, long-term contracts with business partners are likely to increase revenue. Also, customization requirements from the client also results in adoption of innovation in the components and better innovation strategies, which is expected to enable the manufacturers of specific gravity bench apparatus to reach new growth markets and to encourage the production of the components of these apparatus. Moreover, the acquisition of businesses and products is also expected to help the manufacturers of specific gravity bench apparatus accelerate revenue growth and create value for shareholders. Some of the market participants in the global specific gravity bench apparatus market report include Cooper Research Technology; Gilson Company, Inc.; Humboldt Mfg. Co.; Houghton Manufacturing Company; Forney LP. Inc.; Sun Labtek Equipments Manufacturing Private Limited; Durham Geo-Enterprises; Controls S.p.A., Inc.; Test Mark Industries and M & L Testing Equipment (1995) Inc., Myers Associates, Inc., Microteknik, and  FilWEB. These companies are expected to provide a significant number of quality products and highly influence the specific gravity bench apparatus market during the forecast period.

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Shashii Pawar Joined: November 21st, 2017