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Testing, Inspection and Certification (TIC) Trends and Forecast
The future of the global testing, inspection and certification (TIC) market looks promising with opportunities in the consumer goods and retail, medical and life science, agriculture and food, chemical, construction and infrastructure, energy and power, industrial and manufacturing, mining, oil & gas and petroleum, automotive markets. The global testing, inspection and certification (TIC) market is expected to reach an estimated $290.2 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are growing demand of enterprises and corporations to engage in safe and efficient testing, inspection, and certification practices, growth of the transportation and logistics sector, and increasing infrastructure and renewable energy generation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Testing, Inspection and Certification (TIC) by Segment
The study includes a forecast for the global testing, inspection and certification (TIC) by sourcing type, service type, application, and region.
Testing, Inspection and Certification (TIC) Market by Sourcing Type [Shipment Analysis by Value from 2018 to 2030]:
• In-House Sourcing
• Outsourced Sourcing
Testing, Inspection and Certification (TIC) Market by Service Type [Shipment Analysis by Value from 2018 to 2030]:
• Testing Service
• Inspection Service
• Certification Service
• Others
Testing, Inspection and Certification (TIC) Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Consumer Goods and Retail
• Medical and Life Science
• Agriculture and Food
• Chemicals
• Construction and Infrastructure
• Energy and Power
• Industrial and Manufacturing
• Mining
• Oil & Gas and Petroleum
• Automotive
Testing, Inspection and Certification (TIC) Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Testing, Inspection and Certification (TIC) Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies testing, inspection and certification (TIC) companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the testing, inspection and certification (TIC) companies profiled in this report include-
• SGS
• Bureau Veritas
• Intertek Group
• Eurofins Scientific
• DEKRA
• TÜV SÜD
• DNV GL
• Applus+
• ALS
Testing, Inspection and Certification (TIC) Market Insights
Lucintel forecast that testing will remain the highest growing segment over the forecast period due to growing industrial investment, rising demand for consumer products, as well as increasing usage of testing practices in automotive, energy & utilities, oil & gas and petroleum, and the manufacturing industry.
APAC will remain the largest region over the forecast period because of the growing economic development in countries such as China, India, Japan, and South Korea, rising industrial and manufacturing activity in the region, as well as rapidly developing ai technology ecosystem in Singapore.
Features of the Global Testing, Inspection and Certification (TIC) Market
Market Size Estimates: Testing, inspection and certification (TIC) market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Testing, inspection and certification (TIC) market size by sourcing type, service type, application, and region in terms of value ($B).
Regional Analysis: Testing, inspection and certification (TIC) market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different sourcing type, service type, application, and regions for the testing, inspection and certification (TIC) market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the testing, inspection and certification (TIC) market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the testing, inspection and certification (TIC) market size?
Answer: The global testing, inspection and certification (TIC) market is expected to reach an estimated $290.2 billion by 2030.
Q.2 What is the growth forecast for testing, inspection and certification (TIC) market?
Answer: The global testing, inspection and certification (TIC) market is expected to grow with a cagr of 3.2% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the testing, inspection and certification (TIC) market?
Answer: The major drivers for this market are growing demand of enterprises and corporations to engage in safe and efficient testing, inspection, and certification practices, growth of the transportation and logistics sector, and increasing infrastructure and renewable energy generation.
Q4. What are the major segments for testing, inspection and certification (TIC) market?
Answer: The future of the global testing, inspection and certification (TIC) market looks promising with opportunities in the consumer goods and retail, medical and life science, agriculture and food, chemical, construction and infrastructure, energy and power, industrial and manufacturing, mining, oil & gas and petroleum, automotive markets.
Q5. Who are the key testing, inspection and certification (TIC) market companies?
Answer: Some of the key testing, inspection and certification (TIC) companies are as follows:
• SGS
• Bureau Veritas
• Intertek Group
• Eurofins Scientific
• DEKRA
• TÜV SÜD
• DNV GL
• Applus+
• ALS
Q6. Which testing, inspection and certification (TIC) market segment will be the largest in future?
Answer: Lucintel forecast that testing will remain the highest growing segment over the forecast period due to growing industrial investment, rising demand for consumer products, as well as increasing usage of testing practices in automotive, energy & utilities, oil & gas and petroleum, and the manufacturing industry.
Q7. In testing, inspection and certification (TIC) market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period because of the growing economic development in countries such as China, India, Japan, and South Korea, rising industrial and manufacturing activity in the region, as well as rapidly developing ai technology ecosystem in Singapore.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the testing, inspection and certification (TIC) market by sourcing type (in-house sourcing and outsourced sourcing), service type (testing service, inspection service, certification service, and others), application (consumer goods and retail, medical and life science, agriculture and food, chemicals, construction and infrastructure, energy and power, industrial and manufacturing, mining, oil & gas and petroleum, and automotive), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Testing, Inspection And Certification (Tic) Market, Testing, Inspection And Certification (Tic) Market Size, Testing, Inspection And Certification (Tic) Market Growth, Testing, Inspection And Certification (Tic) Market Analysis, Testing, Inspection And Certification (Tic) Market Report, Testing, Inspection And Certification (Tic) Market Share, Testing, Inspection And Certification (Tic) Market Trends, Testing, Inspection And Certification (Tic) Market Forecast, Testing, Inspection And Certification (Tic) Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Testing, Inspection and Certification (TIC) Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Testing, Inspection and Certification (TIC) Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Testing, Inspection and Certification (TIC) Market by Sourcing Type
3.3.1: In-House Sourcing
3.3.2: Outsourced Sourcing
3.4: Global Testing, Inspection and Certification (TIC) Market by Service Type
3.4.1: Testing Service
3.4.2: Inspection Service
3.4.3: Certification Service
3.4.4: Others
3.5: Global Testing, Inspection and Certification (TIC) Market by Application
3.5.1: Consumer Goods and Retail
3.5.2: Medical and Life Science
3.5.3: Agriculture and Food
3.5.4: Chemicals
3.5.5: Construction and Infrastructure
3.5.6: Energy and Power
3.5.7: Industrial and Manufacturing
3.5.8: Mining
3.5.9: Oil & Gas and Petroleum
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Testing, Inspection and Certification (TIC) Market by Region
4.2: North American Testing, Inspection and Certification (TIC) Market
4.2.1: North American Testing, Inspection and Certification (TIC) Market by Service Type: Testing Service, Inspection Service, Certification Service, and Others
4.2.2: North American Testing, Inspection and Certification (TIC) Market by Application: Consumer Goods and Retail, Medical and Life Science, Agriculture and Food, Chemicals, Construction and Infrastructure, Energy and Power, Industrial and Manufacturing, Mining, and Oil & Gas and Petroleum
4.3: European Testing, Inspection and Certification (TIC) Market
4.3.1: European Testing, Inspection and Certification (TIC) Market by Service Type: Testing Service, Inspection Service, Certification Service, and Others
4.3.2: European Testing, Inspection and Certification (TIC) Market by Application: Consumer Goods and Retail, Medical and Life Science, Agriculture and Food, Chemicals, Construction and Infrastructure, Energy and Power, Industrial and Manufacturing, Mining, and Oil & Gas and Petroleum
4.4: APAC Testing, Inspection and Certification (TIC) Market
4.4.1: APAC Testing, Inspection and Certification (TIC) Market by Service Type: Testing Service, Inspection Service, Certification Service, and Others
4.4.2: APAC Testing, Inspection and Certification (TIC) Market by Application: Consumer Goods and Retail, Medical and Life Science, Agriculture and Food, Chemicals, Construction and Infrastructure, Energy and Power, Industrial and Manufacturing, Mining, and Oil & Gas and Petroleum
4.5: ROW Testing, Inspection and Certification (TIC) Market
4.5.1: ROW Testing, Inspection and Certification (TIC) Market by Service Type: Testing Service, Inspection Service, Certification Service, and Others
4.5.2: ROW Testing, Inspection and Certification (TIC) Market by Application: Consumer Goods and Retail, Medical and Life Science, Agriculture and Food, Chemicals, Construction and Infrastructure, Energy and Power, Industrial and Manufacturing, Mining, and Oil & Gas and Petroleum
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Testing, Inspection and Certification (TIC) Market by Sourcing Type
6.1.2: Growth Opportunities for the Global Testing, Inspection and Certification (TIC) Market by Service Type
6.1.3: Growth Opportunities for the Global Testing, Inspection and Certification (TIC) Market by Application
6.1.4: Growth Opportunities for the Global Testing, Inspection and Certification (TIC) Market by Region
6.2: Emerging Trends in the Global Testing, Inspection and Certification (TIC) Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Testing, Inspection and Certification (TIC) Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Testing, Inspection and Certification (TIC) Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: SGS
7.2: Bureau Veritas
7.3: Intertek Group
7.4: Eurofins Scientific
7.5: DEKRA
7.6: TÜV SÜD
7.7: DNV GL
7.8: Applus+
7.9: ALS
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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