openPR Logo
Press release

Demand For Testing, Inspection, and Certification Market (TIC) Services To Remain High From Industrial And Oil & Gas / Chemical Sectors From 2021-2031

Demand For Testing, Inspection, and Certification Market (TIC)

Global testing, inspection, and certification firms serve a wide variety of industries such as food & beverages, textiles, automotive, aerospace, and many others. These service offer excellent customer protection, increase productivity, lower prices, facilitate adherence to regulations, etc. Increasing government customer concerns about substandard products have led to an increase in the quality and safety of testing services across regions.

To remain ‘ahead’ of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/28060

A major factor driving demand for testing, inspection, and certification is stringent rules and regulations covering various sectors. However, lack of international standards may hinder market growth to some extent. Additionally, new technologies and enormous potential in emerging economies will provide opportunities for the growth of TIC service providers over the coming years. Rise in conscious consumerism will continue on a major scale, piling pressure on brands to protect their reputations. This is moving the needle from TIC services being seen as obligatory, to being able to provide a real competitive advantage in the market. As per Persistence Market Research’s revised study, the global testing, inspection, and certification (TIC) market is projected to expand at a steady CAGR of more than 5% over the 2021-2031 forecast period.

Key Takeaways from Market Study
• Introduction of new technology as well as high demand for inspection and testing at regular intervals across several industries such as oil & gas is expected to drive demand for TIC services.
• Volume of international imports and exports is increasing, especially for products such as food and medicine. Food & beverage, agriculture, consumer electronics, as well as automotive industries are projected to provide higher opportunities for TIC services.
• The Asia Pacific region is projected to hold significant market share due to the attractiveness of emerging markets such as China, India, Japan, and South Korea, as a result of growth of indigenous industries and subsequent acceleration in exports, implementation of stringent standards, and rapid urbanization.
• Growth of indigenous industries as well as subsequent acceleration in exports, implementation of stringent standards, and rapid urbanization have all contributed to the attractiveness of emerging markets such as China.
• In-house TIC services to hold around 60% market share by 2031-end.
• Demand for testing, inspection, and certification services to remain high from industrial and oil & gas / chemical sectors.
• Testing services to hold more than 60% market share over the forecast period.
• Due to the COVID-19 pandemic, in 2020, the market saw a growth of -9.8%, with 2021 offering some sort of relief to services providers.
• The TIC market in China is projected to expand at a CAGR of 6.5% through 2031, while that in the U.S. at over 5%.

For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/28060

Competitive Landscape
The global testing, inspection, and certification market has been identified as a significantly fragmented market space, with the organized sector occupying a major section of the overall market. Tier-1 manufacturers account for maximum share in the global market. Some leading players included in the report such as 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., TÜV NORD GROUP,KIWA NV, Favareto SA, ASTM International, OIL TEST INTERNACIONAL, LENOR Group, Genesis Group, OPUS Group AB, CSA Group, Element Materials & Technology, Cugnier, RRMG Ltda, Standardization and Certification NYCE, SC, and Lloyd's Register, Team Inc. are anticipated to create a tough competitive environment at the global level.

Conclusion
The market is a moderately competitive space dominated by global players. There are some companies using strategic collaborative and acquisition approaches to improve their market share as well as increase their profitability. However, due to technical advances and product developments, mid-size to smaller companies are increasing their market presence by receiving new contracts and entering new markets. Many businesses are now evaluating their acquisition plans in order to take advantage of new technology developments. Leading companies are launching a slew of programs to boost competitiveness and improve customer satisfaction. With rising global cyberattacks, stringent regulations are expected in the foreseeable future, which, in turn, will raise demand for TIC services in the cybersecurity arena. In the next few years, China will continue to be a prime growth territory for the sector. TIC service providers will expand further into new markets and developing economies.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/28060

Read More Trending “PMR Exclusive Article”
• Global Market Study on Rotating Equipment Repair: https://www.persistencemarketresearch.com/market-research/rotating-equipment-repair-market.asp
• Global Market Study on Gardening Tools: https://www.persistencemarketresearch.com/market-research/gardening-tools-market.asp

Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com

About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Demand For Testing, Inspection, and Certification Market (TIC) Services To Remain High From Industrial And Oil & Gas / Chemical Sectors From 2021-2031 here

News-ID: 2527811 • Views: 124

More Releases from Persistence Market Research

Fourth Industrial Revolution to take the Commercial Aquaculture Vaccines Market …
The Commercial Aquaculture Vaccines Market is expected to grow by leaps and bounds in the forecast period. Nanotechnology’s medical application is on the anvil. As such, nanomedicine is an outcome of the technology operating at the molecular, atomic, or supramolecular scale. The broad application areas of nanomedicine include sensing, imaging, diagnosis, and delivery via medical devices. This would certainly keep the healthcare vertical upgraded continuously. Increasing risk of transmission of pathogens
The Flexible Plastic Packaging Market To Stage Innovation-Based Eagle-Eye View
Persistence Market Research has published a new report, which is titled, “Global Market Study on Flexible Plastic Packaging: Asia Pacific Excluding Japan to Lead the Global Market in Terms of Revenue During 2017-2022.” Flexible plastic packaging is one of the growing trends in the packaging industry. Flexible plastic packaging makes use of various types of plastic material for packaging of different products. Depending on the application and type of product
Innovation-Based Sanity To Maintain The Momentum Of Shampoo Market
The global market for shampoos is getting a boost due to a variety of reasons. Some of these reasons include a rise in the per capita income the world over and increasing product innovation in the realm of shampoos. In addition, aiding the market growth is the emerging men’s grooming sector and a greater demand for specialized products like organic shampoos and natural shampoos. Moreover, there is a growing threat
The Gelatin Bone Glues Market to grow on an invincible note
The Gelatin Bone Glues Market is expected to grow by leaps and bounds in the forecast period. Nanotechnology’s medical application is on the anvil. As such, nanomedicine is an outcome of the technology operating at the molecular, atomic, or supramolecular scale. The broad application areas of nanomedicine include sensing, imaging, diagnosis, and delivery via medical devices. This would certainly keep the healthcare vertical upgraded continuously. Get Sample Copy of this Report@

All 5 Releases


More Releases for TIC

Global Automotive TIC Market Size – Forecasts to 2026
The results analyzed by GME showed that the Global Automotive TIC market will grow with a CAGR value of 4.1 percent, to hit xx billion USD by 2026. The demand will rise rapidly with the rising automotive industry and the increasing adoption of automotive electronics. Browse 151 Market Data Tables and 111 Figures spread through 179 Pages and in-depth TOC on "Automotive TIC Market - Forecast to 2026" https://www.globalmarketestimates.com/market-report/global-automotive-tic-market-2584 By Service
Automotive TIC Market worth $20.4 billion by 2025
According to the new market research report " Automotive TIC Market with COVID-19 impact by Service (Testing, Inspection, Certification), Sourcing, Application (Vehicle Inspection, Electrical & Components), and Geography; Periodic Technical Inspection Market by Region - Global Forecast to 2025" is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025, at a CAGR of 4.3%. The growth of the automotive TIC market can be attributed
Automotive TIC Market Size, Share, Growth, Industry Analysis, Forecast 2026
In 2018, the global Automotive TIC market size was 14000 Million USD and it is expected to reach 20500 Million USD by the end of 2025, with a CAGR of 5.6% during 2019-2025. The Automotive Testing, Inspection and Certification (TIC) sector consists of conformity assessment bodies that provide services ranging from auditing and inspection to testing, verification, quality assurance, and certification. The rising number of accidents, increasing automation in vehicles,
Tic Disorder Therapeutics- Pipeline Analysis 2018
Tic disorder is a type of mental disorder, characterized by sudden and nonrhythmic movements. According to the World Health Organisation (WHO), this disease can be categorized into five types; transient, combined vocal and multiple motor, unspecified, and chronic motor tic disorder. Download the sample report @ https://www.pharmaproff.com/request-sample/1089 Some of the symptoms of the disease are facial grimacing, excessive blinking, uncontrollable movements of the legs, and sound such as throat clearing. Majorly
Meska Market is Booming Worldwide | Nexira, TIC Gums, KANTILAL BROTHERS
HTF MI recently introduced Global Meska Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Nexira, TIC Gums, KANTILAL BROTHERS, Kapadia Gum Industries Pvt. Ltd., Nutriroma, Powder
Testing, Inspection, and Certification (TIC) Services Market Forthcoming Develop …
Market Study Report adds 2018-2024 global Testing, Inspection, and Certification (TIC) Services market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more. Meticulously analyzed in terms of pivotal industry segments, global testing, inspection, and certification (tic) services market report effectively covers the scope of this space in terms of service, type, application, and the