Fire Testing Market Size, Share, Growth And Forecast Report 2024 To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Fire Testing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $10 billion In 2028 At A CAGR Of 6.9% :

The fire testing market size has grown strongly in recent years. It will grow from $7.17 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to stringent regulatory standards, increasing urbanization, expanding international trade, growing construction industry, previous fire incidents.

The fire testing market size is expected to see strong growth in the next few years. It will grow to $10 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to renewable energy infrastructure, rise of electric vehicles, aging infrastructure, sustainable construction, growth of interconnected systems. Major trends in the forecast period include integration of IoT, green fire testing, customized testing solutions, remote testing services, advanced simulation technologies.

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Fire Testing Market Major Segments
The fire testing market covered in this report is segmented -

1) By Service: Testing, Inspection, Certification, Other Services
2) By Sourcing: In-house, Outsourced
3) By Application: Building and Construction, Automotive, Industrial and Manufacturing, Consumer Goods and Retail, Aerospace and Defense, Other applications

Key Driver - The Surge In Smart City Adoption Sparks Growth In The Fire Testing Market

Increasing adoption of the smart city concept is expected to propel the growth of the fire testing market going forward. 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. For instance, in October 2022, according to an article shared by National World plc, a UK-based news publishing company, Saudi Arabia is building a smart city called Neom to host an international sporting event called The Asian Winter Games 2029. A Saudi smart city called Neom is now being constructed in Tabuk Province in northwest Saudi Arabia. At an estimated cost of $500 billion (about £436 billion), it is intended to include smart city technologies and serve as a tourism destination. Due to delays, it may now take until 2026 to accomplish the project, which Saudi Arabia had hoped to have done in large portions by 2020 and with an expansion concluded in 2025. Therefore, increasing the adoption of the smart city concept drives the fire testing market.

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Prominent Trend - Intertek Group Plc Introduces Fire Testing And Certification Program In Saudi Arabia

Product innovations are a key trend gaining popularity in the fire testing market. Major companies operating in the fire testing market are developing innovative products to strengthen their position. For instance, in February 2021, Intertek Group plc, a UK-based fire testing, inspection, product testing, and certification company, launched an in-country program for fire testing and construction product certification in Saudi Arabia to meet clients' growing need for fire resistance testing. The new service tests and certifies building items such as fire doors, walls, glazed divisions, and ceilings. The Al Khobar laboratory is ISO 17025 acknowledged and authorized by the Saudi Civil Defense, and it also evaluates the fire performance of load-bearing parts, skylights, and roof assemblies. The facility, which includes a combination furnace, will allow Intertek to perform tests and certifications on horizontal as well as vertical elements such as doors and ceilings.

Fire Testing Market Players
Major companies operating in the fire testing market report are Bosch Security Systems Inc., Siemens AG, United Technologies Corporation, Honeywell International Inc., Johnson Controls International plc, UTC Fire & Security, SGS Group SA, Bureau Veritas SA, Intertek Group plc, DEKRA SE, DNV GL, TÜV Rheinland, Underwriters Laboratories Ltd., Applus+ IDIADA, BRE Group Ltd., Kiwa NV, Mistras Group Inc., The Element Materials Technology Group Ltd., Exponent Inc., VdS Schadenverhütung GmbH, QIMA Limited, Applied Technical Services LLC, Tyco Fire Products LP, Kidde Technologies Inc., FM Approvals LLC, Smithers Ltd., International Fire Consultants Limited, RINA SpA, Exova Group plc, Assure Controls Inc.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the fire testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the fire testing market report forecast period. The regions covered in the fire testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fire Testing Market Report Structure
3. Fire Testing Market Trends And Strategies
4. Fire Testing Market - Macro Economic Scenario
5. Fire Testing Market Size And Growth
…..
27. Fire Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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