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Global Fire Testing Market Analysis By Major Manufacturers and Competitive landscape 2023-2032| Intertek Group plc, TÜV SÜD America Inc., SGS Group, Bureau Veritas SA, UL Enterprise
Fire Testing Market Share
The Business Research Company's Fire Testing Global Market Report 2023 identifies Increasing adoption of the smart city concept as the major driver for the fire testing market's growth in the forecast period. A smart city refers to a city that makes use of information and communication technology (ICT) to boost productivity, inform the populace, and enhance the standard of public services and welfare. Fire testing is employed in smart cities for the prediction and early detection of fire and smoke, which can considerably increase public safety by lowering large-scale damage.
The global fire testing market size is expected to grow from $6.73 billion in 2022 to $7.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of fire testing is expected to grow to $9.48 billion in 2027 at a CAGR of 7.0%.
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Major competitors in the fire testing market are Intertek Group plc, TÜV SÜD America Inc., SGS Group, Bureau Veritas SA, UL Enterprise, DEKRA SE, QIMA Limited, Applus+ IDIADA, United Technologies Corporation, The Element Materials Technology Group, International Fire Consultants Limited, DNV GL, BRE Group, TÜV Rheinland, RINA SpA, and Mistras Group Inc.
A key trend in the fire testing market includes Product innovations. Major companies operating in the fire testing market are developing innovative products to strengthen their position. For instance, in October 2020, UL Solutions, a US-based safety science company, launched a unique free energy storage fire safety test database. This unique database allows energy storage system manufacturers to list the results of their UL 9540A thermal runaway fire propagation tests. The information from UL 9540A testing supports important safety decisions about how the BESS can be installed and used.
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The fire testing market is segmented -
• By Service: Testing, Inspection, Certification, and Other Services
• By Sourcing: In-house, Outsourced
• By Application: Building and Construction, Automotive, Industrial and Manufacturing, Consumer Goods and Retail, Aerospace and Defense, Other applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the fire testing market.
The Business Research Company's "Global Fire Testing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Fire Testing Market Include:
1. Executive Summary
2. Fire Testing Market Characteristics
3. Fire Testing Market Trends And Strategies
4. Fire Testing Market - Macro Economic Scenario
5. Fire Testing Market Size And Growth
……
26. Africa Fire Testing Market
27. Fire Testing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Fire Testing Market
29. Fire Testing Market Future Outlook and Potential Analysis
30. Appendix
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