Hydrogen Technology Testing, Inspection and Certification (TIC) Market Top Companies Study - Amspec Group, Force Technology, Rina S.P.A., LRGA Group Limited, Ricardo.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Hydrogen Technology Testing, Inspection and Certification (TIC) Market - (By Process Generation (Gray Hydrogen, Blue Hydrogen, Green Hydrogen, Others), Storage (Physical, Material-Based), Transportation/Distribution (Long-Distance, Short-Distance), By Application (Refining & Chemicals, Mobility, Energy, Others), By Service Type (Testing, Inspection, Certification, Other Services), By Testing Type (Pressure Cycle, Leakage, and Tightness Test, Overpressure, Burst, and Flow Test, Hydrogen Permeation and Compatibility Test, Hydraulic Test, Environmental Simulation Test, Electromagnetic Compatibility Test, Vibration Test)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Hydrogen Technology Testing, Inspection and Certification (TIC) Market is valued at US$ 3.71 Bn in 2023, and it is expected to reach US$ 12.38 Bn by 2031, with a CAGR of 16.5% during the forecast period of 2024-2031.

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Hydrogen technology testing, inspection, and certification (TIC) describes the procedures used to guarantee that hydrogen technologies are up to code in terms of quality, safety, and regulation. The market for technology testing, inspection, and certification (TIC) is being propelled by the increasing need for clean energy solutions that can lower carbon emissions, especially as hydrogen becomes an important renewable energy source. Governments around the world are supporting hydrogen infrastructure through various programs and large investments, which is driving market expansion even further. Additionally, hydrogen is being tested extensively for safety, efficiency, and performance as it is being used more and more in transportation and industry as a replacement for fossil fuels. A higher demand for TIC services to guarantee compliance and safe energy transitions is being driven by the tight safety and regulatory standards for hydrogen production, storage, and delivery. The rising demand for hydrogen technology testing, inspection, and certification (TIC) around the world is opening up novel possibilities for market players due to advanced technologies being used to automate more testing and inspection tasks, which is growing the market demand.

List of Prominent Players in the Hydrogen Technology Testing, Inspection, and Certification (TIC) Market:
• SGS SA
• Bureau Veritas
• Intertek Group plc
• DEKRA
• TÜV SÜD
• DNV GL
• TÜV RHEINLAND
• Applus+
• TÜV NORD Group
• UL LLC
• Element Materials Technology
• Apave
• Kiwa
• VDE Testing And Certification Institute Gmbh
• Amspec Group
• Force Technology
• Rina S.P.A.
• LRGA Group Limited
• Ricardo
• Ballard Power Systems
• TWI Ltd.
• Bakerrisk
• Powertech Labs Inc.
• Resato
• AVL

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Market Dynamics:
Drivers-
The hydrogen technology testing, inspection, and certification (TIC) industry is experiencing rising demand because hydrogen is becoming more widely used in many industries, including transportation, power generation, and industrial operations, and because there is a worldwide trend toward greener energy sources. Additionally, the necessity for tight efficiency, safety, and regulatory compliance is growing in importance as hydrogen technology expands. The fast growth of the hydrogen industry is driven by the heavy investment in hydrogen infrastructure by both governments and industries. This investment is driving demand for TIC services, which guarantee the production, storage, and utilization of hydrogen safely and reliably, which is driving the market growth.

Challenges:
The hydrogen technology testing, inspection, and certification (TIC) industry is facing some challenges that hinder it from growing due to the hefty price tags of cutting-edge hydrogen technology and the building of supporting infrastructure. Additionally, problems with hydrogen production facilities, as well as the requirement for specialist equipment and knowledge in testing and certification procedures, are limiting factors in the expansion of the hydrogen technology testing, inspection, and certification (TIC) market. Moreover, it is difficult for businesses to meet all quality and safety regulations because of the complexity of regulations and the variance in standards among regions.

Regional Trends:
The Asia Pacific hydrogen technology testing, inspection, and certification (TIC) market is anticipated to register a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future owing to growing investments in renewable energy, government programs encouraging the use of hydrogen, and the growth of the transportation and manufacturing industries. An additional factor fueling expansion is the region's growing interest in renewable energy sources. Besides, North America had a notable share in the market because of its well-known manufacturing sector, and government programs that encourage electric vehicles help the market grow even more speedily. Globally competitive advanced technology manufacturers are also present in large numbers, and governments are backing this market growth with more and more investments.

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Recent Developments:
• In August 2024, UL Solutions Inc., a world-renowned authority in applied safety science, inaugurated its North America Advanced Battery Laboratory in Auburn Hills, Michigan. This state-of-the-art facility is among the most comprehensive testing facilities in the United States for electric and hybrid vehicles and industrial batteries.

Segmentation of Hydrogen Technology Testing, Inspection and Certification (TIC) Market-
By Process-
• Generation
o Gray Hydrogen
o Blue Hydrogen
o Green Hydrogen
o Others
• Storage
o Physical
o Material-Based
• Transportation/Distribution
o Long-Distance
o Short-Distance
By Application-
• Refining & Chemicals
• Mobility
• Energy
• Others
By Service Type-
• Testing
• Inspection
• Certification
• Other Services
By Testing Type-
• Pressure Cycle, Leakage, and Tightness Test
• Overpressure, Burst, and Flow Test
• Hydrogen Permeation and Compatibility Test
• Hydraulic Test
• Environmental Simulation Test
• Electromagnetic Compatibility Test
• Vibration Test
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.