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Europe Testing, Inspection, and Certification (TIC) Services Market 2018 Global Trend, Segmentation And Opportunities Forecast To 2024
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According to the Graphical Research new growth forecast report titled “Europe Testing, Inspection and Certification (TIC) Services Market Size By Application (Agriculture & Food, Life Science, Construction, Consumer Product, Transportation, Energy, Oil, Gas, & Chemical, Mining), By Service (Testing, Inspection, Certification), By Type (In-House, Outsource), Countries Outlook (UK, Germany, France, Italy, Spain, Russia, Denmark), Industry Forecast, 2018 – 2024”, estimated to exceed USD 85 Billion By 2024
The agriculture & food industry is predicted to grow at a CAGR of over 8% over the forecast timeline. The rising focus by government establishments to improve food safety is a primary factor prompting the use of TIC services in the agriculture & food sector. The increasing number of food contamination occurrences is driving regulatory bodies to develop compliance regulations to curb the number of foodborne diseases. Furthermore, the surge in trade between countries and the emergence of global food supply chains are further adding to the demand for TIC services in the sector.
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UK TIC market accounted for over 20% revenue in the Europe region. The presence of numerous TIC players such as Testhouse Ltd., Test Pro, and Testing Solutions Group Ltd. are driving the market growth. These companies receive outsourcing projects from offshore countries including the U.S., Hungary, Portugal, and Australia. The primary challenge restraining the growth of these companies is the inexpensive services offered by TIC providers in China, India, and the Philippines. Brexit has opened new channels for free trade and communication and provided a myriad of opportunities for offshore businesses to conduct trade in the country. This is also helping the TIC market growth in the country.
The vendors present in the Europe TIC market are TUV Rheinland, Intertek, Dekra, SGS, Applus, Bureau Veritas, and TUV SUD. The large TIC providers are acquiring regional players to increase the distributional network in the region. For instance, in October 2015, SGS acquired Le Brigand NDT, a France-based provider of non-destructive testing services. The acquisition is aimed at increasing its market share in the aviation industry.
Browse Table of Contents @ https://www.graphicalresearch.com/table-of-content/1145/europe-testing-inspection-and-certification-tic-services-market
Segments we cover:
Europe TIC Services Market Statistics, By Providers
Testing
Inspection
Certification
Europe TIC Services Market Growth, By Type
In-house
Outsource
Europe TIC Services Market Trends, By Application
Agriculture & Food
Construction
Life Science
Consumer Products
Transportation
Energy
Oil, Gas & Chemical
Mining
Browse key industry insights from this Report @ https://www.graphicalresearch.com/industry-insights/1145/europe-testing-inspection-and-certification-tic-services-market
Related Reports:
Europe Software Defined- Wide Area Network (SD-WAN) Market : https://www.marketwatch.com/press-release/europe-software-defined--wide-area-network-sd-wan-market-share-forecast-to-witness-considerable-growth-from-2019-to-2024-2019-07-22
North America Software Defined- Wide Area Network (SD-WAN) Market : https://www.marketwatch.com/press-release/north-america-software-defined--wide-area-network-sd-wan-market-share-research-by-applications-and-regions-for-2019-2025-2019-07-22
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Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearch.com
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About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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