North America Fire Testing Market Analysis and Forecast to 2027 - Applus Services, Bureau Veritas, Dekra, Element Materials Technology

The fire testing market in North America is expected to grow from US$ 1.34 Bn in 2018 to US$ 2.39 Bn by the year 2027. This represents a CAGR of 6.9% from the year 2019 to 2027.

Several factors that are impacting the market as a whole the macroeconomic circumstances, which affect new constructions and correspondingly the new equipment and service installations. The construction sector is witnessing a decent growth rate in recent times. The trend is foreseen to continue over the years, thereby creating a huge space for commercial and industrial constructions. Governments of various countries are undertaking initiatives with a motive to support the construction industry. The growth in the construction of commercial buildings is anticipated to provide prosperous opportunities to the market to grow across the globe; thus, positively impacting the fire testing market.

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Developed internet infrastructure, advances in semiconductors technology, availability of high definition displays are all on a path to completely transform the infrastructure sector. Big Data, IoT, AI trends are leading to concepts such as smart homes and smart buildings and are rapidly gaining widespread popularity. As far as the future of this industry is concerned, different components in a building would provide communication between each other in various aspects. Moreover, regulatory bodies are taking several initiatives to support the concept of a smart city and smart buildings. The increasing popularity of smart buildings is expected to support the increasing demand for fire testing.

Currently, the US is dominating the fire testing market in terms of installation, which in turn boosts the demand for the fire testing market in the region. The United States Fire Administration (USFA) is currently an entity within the Federal Emergency Management Agency (FEMA) of the Department of Homeland Security (DHS). Its mission is to provide leadership, coordination, and support for the nation's fire prevention. Due to developed infrastructure across the country, the need for fire testing is increasing. Fire testing is an integral aspect of building and consumer product regulations in the US. Essentially, a fire test involves exposure of a material, product, or assembly to a particular ignition source or thermal insult.

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NORTH AMERICA Fire testing MARKET - SEGMENTATION
North America Fire Testing Market - By Service
o Testing
o Inspection
o Certification

North America Fire Testing Market - By Sourcing Type
o In-house
o Outsourced

North America Fire Testing Market - By Application
o Building & Construction
o Automotive
o Industrial & Manufacturing
o Consumer Goods & Retail
o Aerospace & Defense
o Others

North America Fire testing Market - By Country
o US
o Canada
o Mexico

North America Fire testing Market - Companies Mentioned
o Applus Services, SA
o Bureau Veritas SA
o Dekra
o Element Materials Technology
o International Fire Consultants Group
o Intertek Group plc
o SGS SA
o TUV SUD AG
o UL LLC
o United Technologies Corporation

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This release was published on openPR.