Testing Inspection and Certification Market is expected to reach $312.25 billion by 2026 | key players includes DNV GL Group AS, ALS Limited, Mistras, Eurofins Scientific, Element Materials Technology, Dekra SE, Bureau Veritas SA, UL, TUV Nord
The growth of this market is driven by increasing goods in emerging nations, increase in product recalls, government regulations and standards also various companies are offering TIC services. However, various standards and regulations, complex nature of supply chains across geographies are restraining the market.
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Some of the key players profiled in the report include DNV GL Group AS, ALS Limited, Mistras, Eurofins Scientific, Element Materials Technology, Dekra SE, Bureau Veritas SA, UL, TUV Nord, TUV Rheinland, SGS, Avomeen Analytical Services, Envigo, Intertek Group PLC, Medistri, Lloyd's Register, Applus, ASTM International and Asure Quality Limited.
Europe accounted for largest share in the Testing, Inspection and Certification market due to continual introduction of new rules such as energy efficiency in construction and rising focus on outsourcing. Asia Pacific market is expected to witness a significant growth over the forecast period owing to rising number of manufacturing facilities in India and China, increased demand of consumer electronics as well as growing consumer awareness towards quality is aiding the market growth.
Based on application, transportation segment dominates the marekt due to the factors such as strict regulations and legislations. It includes automotive, marine, aerospace and defense, and rail. These industries are required to continually meet the highest levels of safety and reliability for the safety of passengers and assets. By type outsourced services is anticipated to grow at the highest CAGR during the forecast period owing to focus on their core business and avoid high in-house laboratory costs.
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- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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