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Testing Inspection And Certification Market to Witness Exponential Growth by 2028

06-05-2019 05:51 PM CET | Industry, Real Estate & Construction

Press release from: persistencemarketresearch.com

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Testing Inspection And Certification Market to Witness

The testing, inspection and certification market report by Persistence Market Research provides information about market value (US$ Mn) projections, market trends, dynamics, forecast factors, and key developments in the global testing, inspection and certification market for the study period 2018 to 2028.

Improved Safety Regulations and Legislations, and Increased Outsourcing of Testing, Inspection and Certification Services to Assist Market Growth

The push towards outsourcing, and in specific instances, the privatization of state-owned laboratories will continue to be a strong driver for the growth of this market. As per estimations, nearly 40% of the overall market is currently outsourced, which is further expected to grow in the near future.

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Moreover, the increased level of stringent standards and regulations across various application sectors is expected to assist the demand for testing, inspection and certification services over the near future.

Mergers & Acquisitions across Multiple Application Sectors – Focus Area for Testing, Inspection and Certification Market Players

Key players involved in testing, inspection and certification services are focusing on mergers and acquisitions across the globe. Further, companies are focusing on the expansion of their testing, inspection and certification facilities in emerging economies, especially in China. For instance, SGS SA has announced the expansion in its capabilities with the introduction plant tissue testing and recommendation services for the market in China.

Industrial – Prominent Segment for Testing, Inspection, and Certification

The global testing, inspection and certification market has been segmented on the basis of application into consumer & retail, food & agriculture, oil, gas & chemicals, mining & minerals, industrial, transportation, and system certification. The system certification segment is projected to register 1.8X growth over the forecast years in the global testing, inspection and certification market.

Revenue generation from industrial testing, inspection and certification services is expected to account for a prominent share, supported by escalating demand from the pharmaceutical and construction sector across Asia Pacific.

The oil, gas & chemicals and industrial application segments, together, are expected to create more than half of the total incremental opportunity during the forecast years.

South Asia and East Asia Regions to Assist Market Growth in the Near Future

Continuous expansion into new markets and developing economies, primarily through acquisitions, and dealing with new tax and legislative regimes are the key factors that are expected to escalate the growth of testing, inspection and certification market in the South Asia and East Asia regions.

Europe accounted for a lion’s share in the global testing, inspection and certification market in year 2017, and is expected to continue its dominance over the forecast years. The East Asia market is anticipated to witness maximum growth in the global testing, inspection and certification market. In terms of market value, the market in North America is anticipated to witness 1.7X growth in the global testing, inspection and certification market.
Global Testing, Inspection, and Certification Market Forecast

Among the service segments, as per market insights, the testing segment is anticipated to account for a prominent share of the overall testing, inspection and certification market. The testing segment is pegged to be followed by the inspection and certification segments over the forecast years.

In the global testing, inspection and certification market, the market in Europe accounts for a lion’s share, and is expected to continue its dominance throughout the forecast years. The East Asia market is expected to grow at an above-average CAGR in the global testing, inspection and certification market.

Global Testing, Inspection and, Certification Market: Competitive Landscape

Some of the market participants included in the report on the testing, inspection and certification market are SGS SA, Bureau Veritas SA, DEKRA, Intertek Group plc, Eurofins Scientific Group, TUV SUD AG, TUV Rheinland AG, DNV GL, UL LLC, Applus, MISTRAS Group Inc., ATRAC Group, Apave International, ALS Global, Compoende Beneficiamento De Pecas Ltda, TUV NORD GROUP, KIWA NV, Favarerto SA, ASTM International, OIL TEST INTERNATIONAL, LENOR Group, Genesis Group, OPUS Group AB, CSA Group, Element Materials & Technology, Cugnier, RRMG Ltda, etc.

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Table Of Contents

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

4. Key Success Factors

5. Market Background

5.1. Macro-Economic Factors
5.1.1. Global Population Outlook
5.1.2. Global GDP per Capita Outlook
5.1.3. Global GDP Outlook
5.1.4. Overview of IoT Connected Devices
5.2. Evolution of TIC
5.3. Impact of Digital Technologies
5.4. Key Impacting Factors
5.5. World Shipbuilding Completions Overview
5.6. World Shipbuilding Order Book by Country
5.7. World Ship Fleet Growth and Principal Type of Vessel
5.8. Global Automotive Fleet on Road Outlook by Region
5.9. Global Automotive Production Outlook
5.10. Global Chemical Industry Overview
5.11. Global Aircraft Production Outlook
5.12. Global Air Transport MRO Outlook
5.13. World Minerals Production Overview
5.14. Global Oil Production and Consumption Overview
5.15. Forecast Factors - Relevance & Impact
5.16. Value Chain
5.17. Market Dynamics
5.17.1. Drivers
5.17.2. Restraints

6. Global Testing, Inspection & Certification Market Value (US$ Mn) Analysis and Forecast

6.1. Historical Market Analysis, 2013-2017
6.2. Current and Future Market Projections, 2018-2028
6.3. Y-o-Y Growth Trend Analysis

7. Global Testing Inspection & Certification Market Analysis 2013-2017 and Forecast 2018-2028, by Services

7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Mn) and Analysis by Services, 2013 - 2017
7.3. Current and Future Market Size (US$ Mn) and Analysis and Forecast by Services, 2018 - 2018
7.3.1. Testing
7.3.2. Inspection
7.3.3. Certification
7.4. Market Attractiveness Analysis by Services

8. Global Testing Inspection & Certification Market Analysis 2013-2017 and Forecast 2018-2028, by Sourcing

8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) and Analysis by Sourcing, 2013 - 2017
8.3. Current and Future Market Size (US$ Mn) and Analysis and Forecast by Sourcing, 2018 - 2018
8.3.1. In-House
8.3.2. Outsourcing
8.4. Market Attractiveness Analysis by Sourcing

9. Global Testing Inspection & Certification Market Analysis 2013-2017 and Forecast 2018-2028, by Application

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Analysis by Application, 2013 - 2017
9.3. Current and Future Market Size (US$ Mn) and Analysis and Forecast by Application, 2018 - 2018
9.3.1. Consumer & Retail
9.3.2. Food & Agriculture
9.3.3. Oil, Gas & Chemicals
9.3.4. Mining & Minerals
9.3.5. Industrial
9.3.6. Transportation
9.3.7. System Certification
9.4. Market Attractiveness Analysis by End Use

10. Global Testing Inspection & Certification Market Analysis 2013-2017 and Forecast 2018-2028, by Region

10.1. Introduction
10.2. Historical Market Size (US$ Mn) and Analysis by Region, 2013 - 2017
10.3. Current Market Size (US$ Mn) and Analysis and Forecast by Region, 2018 - 2018
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. South Asia
10.3.5. East Asia
10.3.6. Oceania
10.3.7. Middle East & Africa
10.4. Market Attractiveness Analysis by Region

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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