Testing, Inspection, and Certification Services Market Regional Demand Prospects to 2026
Driven by growing demand for Testing, Inspection, and Certification services Market in the energy and power generation industries of developing economies, the TIC services market might grow at a decent pace over 2026. Regulatory standards set by respective governments on firms dealing in the energy sector is likely to boost the adoption of the services.
Growing trade between countries along with the need to comply with safety standards of various countries is another industry expansion factor. Concern among consumers regarding product safety is driving the demand for testing, inspection, and certification services Market. Among the three, testing services account for a major market share. While, rising number of food-borne illnesses is propelling the demand for inspection services in the food & agricultural industry.
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In terms of application, the construction segment accounted for above 15% market share in 2019 and is increasing at over 5% CAGR credited to growing urbanization and migration of population from rural to urban areas around the world. Testing and inspection in the construction sector comprises of chemical testing of construction material, building material testing, electrical wiring inspection, geotechnical, and situational testing. Rising urbanization and investments in smart infrastructure development is expected to propel the segment outlook.
Geographically speaking, Europe testing, inspection, and certification services market is projected to register a 4% CAGR in the upcoming years on account of surge in demand for TIC services from automotive manufacturers in the region. Some prominent European automotive OEMs such as Audi AG, Volkswagen, and Daimler are working on the development of self-driving cars and ADAS, which is raising the demand for automotive testing services.
Based on service, the inspection segment held more than 15% market share in 2019 and is likely to record a CAGR of 7% owing to rising adoption of inspection services in the industrial manufacturing sector. Inspection services help manufacturing sectors by improving productivity, safety and reliability in the plant facility. The manufacturers are able to get insights regarding predictive maintenance, instrument calibration & repair, and asset management, among others.
Globally, firms operating in the testing, inspection, and certification services market include ALS Limited, RINA Group, SGS SA, TUV SUD, TUV NORD, Intertek Group PLC, Applus+, SAI Global Limited, DEKRA, KIWA Group, and Eurofins Scientific, among others. These companies are taking part in a slew of business strategies such as new product development, mergers & acquisitions, and collaborations in order to target new markets and expand their offerings.
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Table of Content
Chapter 4 Testing, Inspection, and Certification services Market, Competitive Landscape
4.1 Introduction
4.2 Company market share, 2019
4.3 Competitive analysis of major market players, 2019
4.3.1 SGS SA
4.3.2 Bureau Veritas
4.3.3 Intertek Group PLC
4.3.4 DEKRA
4.3.5 TUV SUD
4.4 Competitive analysis of innovation leaders, 2019
4.4.1 Apave International
4.4.2 UL LLC
4.4.3 Mistras Group Inc
4.4.4 Eurofins Scientific
4.4.5 Kiwa Group
Chapter 5 Global testing, inspection, and certification services market, By Service
5.1 Key trends, by service
5.2 Testing
5.2.1 Market estimates and forecast, 2015 - 2026
5.3 Inspection
5.3.1 Market estimates and forecast, 2015 - 2026
5.4 Certification
5.4.1 Market estimates and forecast, 2015 - 2026
5.5 Others
5.5.1 Testing, Inspection, and Certification services Market estimates and forecast, 2015 – 2026
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