Press release
Testing, Inspection, and Certification Market Emerging Trends, Business Opportunity and Global Outlook 2021 to 2025: Intertek Group PLC, SGS SA, Bureau Veritas SA, DNV GL, Eurofins Scientific SE
The Testing, Inspection, and Certification Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The global testing, inspection, and certification market was valued at USD 181.11 billion in 2019 and is expected to reach USD 244.75 billion by 2024, registering a CAGR of 4.9%, during the period of (2020 - 2025).
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Competitive Landscape:
Top Companies: Intertek Group PLC, SGS SA, Bureau Veritas SA, DNV GL, Eurofins Scientific SE, ALS Limited, Underwriters Laboratories (UL), Dekra Certification GmbH, BSI Group, SAI Global Limited, MISTRAS Group, Inc., Exova Group PLC, TUV SUD AG
Industry News and Updates:
- January 2018 - Eurofins acquired Ashwood UK, a food microbiology and chemistry testing lab in Scotland. Through this acquisition the company aims to expand its business in Scotland. In Jun 2018, the company acquired Finnish company VTT Expert Services that provides testing, inspection and certification of construction products. Through this acquisition the company aims to become a one-stop service provider for companies within the construction product industry.
Key Market Trends:
- Asia-Pacific is anticipated to hold major share owing to the merging markets such as China, India, Japan, and South Korea which have become attractive, through the development of indigenous industries and subsequent acceleration in exports, the introduction of stringent standards, and rapid urbanization.
- Additionally, the rise of the middle class has led to an increase in private consumption and demand for both safety and product quality.
- This, in turn, offers growth opportunities in areas, such as food and consumer goods testing. One such example is the acquisition of TUV Rheinlands food analysis laboratories in China.
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What are the market influences that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Testing, Inspection, and Certification Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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