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Testing, Inspection, and Certification Market by Service, End User (Retail, Agriculture, Oil and Gas, Construction, Chemicals, Machinery, Transportation, Automotive, Government, Marine, Healthcare), and Region - Forecast to 2027

April 2021 | 168 pages | ID: TA62DE84B368EN
Meticulous Market Research Pvt. Ltd.

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Testing, Inspection, and Certification Market by Service, End User (Retail, Agriculture, Oil & Gas, Construction, Chemicals, Machinery, Transportation, Automotive, Government, Marine, Healthcare), and Region—Forecast to 2027

The research report titled “Testing, Inspection, and Certification Market by Service, End User (Retail, Agriculture, Oil & Gas, Construction, Chemicals, Machinery, Transportation, Automotive, Government, Marine, Healthcare), and Region—Forecast to 2027” provides an in-depth analysis of the testing, inspection, and certification market in five major geographies and emphasizes on the current market trends, market size, market shares, recent developments, and forecast to 2027. The testing, inspection, and certification market is expected to reach $105.99 billion by 2027, at a CAGR of 2.4% during the forecast period, 2020–2027.

The growth of this market is mainly attributed to the rise in the illicit trade of forged & pirated goods, strict regulatory standards imposed by governments, and the utilization of advanced technologies for new TIC processes. In addition, the rising awareness among consumers regarding product quality & safety and the growing significance of TIC services across various industry verticals are also expected to support the growth of the testing, inspection, and certification market in the coming years. However, concerns regarding the reliability of new service providers and an uncertain regulatory environment are expected to pose challenges to the growth of the testing, inspection, and certification market in the coming years.

The study offers a comprehensive analysis of the TIC market with respect to services, end users, and geographies. The testing, inspection, and certification market is segmented by service (testing, inspection, and certification), end user (consumer goods and retail, agriculture and food, oil & gas, construction, chemicals, mining, machinery, transportation, automotive, power generation, government, marine, healthcare, financial institutions, and others). The study also evaluates industry competitors and analyzes the market at the country level.

By service, the testing segment accounted for the largest in terms of market share in 2020. The largest share of this segment is primarily driven by the presence of different product standards across different regions, increasing product diversity, the rise of globalization, a surge in brand protection policies, and supportive government initiatives to improve the quality of various goods. However, the certification segment is slated to register the highest CAGR due to factors such as supportive government initiatives, the organizations’ increasing need to enhance product value, increase safety, protect the environment, fulfill social responsibilities, and improve performance.

By end user, the agriculture and food segment accounted for the largest in terms of market share in 2020. The largest share of this segment is mainly attributed to the increased need to ensure quality, closely monitor food items, and improve productivity and the growing demand for organic and processed foods. However, the healthcare sector is slated to grow at the fastest pace during the forecast period due to the growing favorability of the regulatory environment, the acceptance of the ‘quality by design’ (QbD) approach in pharmaceutical research and manufacture, rising demand for specialized testing services, and increase in the number of clinical trials.

By geography, the testing, inspection, and certification market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the testing, inspection, and certification market in 2020. The largest share of this segment is mainly attributed to rapid economic development, the presence of major TIC players and several emerging start-ups in the region, highly developed IT infrastructure, stringent government regulations related to food testing, consumer product testing, and drone testing, and growing trade of consumer products. In addition, the growing demand for organic and processed foods and the organizations’ increasing focus on meeting regulatory and compliance requirements are supporting the growth of the testing, inspection, and certification market in the region.

Moreover, high investment opportunities owing to favorable government policies, growing consumer awareness about the importance of certification, testing, and inspection, an upsurge in food safety audits, growing investments by private and public players, and increasing demand for consumer electronics are expected to further support the growth of this regional market. The high adoption of advanced technologies and growing consumer awareness regarding quality are also expected to support the fastest growth of the Asia-Pacific market over the forecast period.

The key players operating in the TIC market are SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), T?V S?d AG (Germany), Dekra SE (Germany), Eurofins Scientific SE (Luxembourg), T?V Rheinland AG Group (U.S.), Element Materials Technology Ltd. (U.K.), Lloyd’s Register Group Limited (U.K.), APPLUS+ (Spain), AsureQuality (New Zealand), DNV GL (Norway), ALS Ltd. (Australia), Mistras Group (U.S.), and UL LLC (U.S.), among others

Key Questions Answered in the Report-
  • Which are the high-growth market segments in terms of service, end user, and geography?
  • What is the historical market size of the testing, inspection, and certification (TIC) market?
  • What are the market forecasts and estimates for the period 2020–2027?
  • What are the major drivers, restraints, opportunities, and trends in the testing, inspection, and certification market?
  • Who are the major players in the testing, inspection, and certification market, and what shares of the market do they hold?
  • How is the competitive landscape?
  • What are the recent developments in the testing, inspection, and certification market?
  • What are the various strategies adopted by the major players in the testing, inspection, and certification market?
  • What are the geographical trends and high-growth countries?
  • Who are the local emerging players in the testing, inspection, and certification market, and how do they compete with the other players?
Scope of the Report:

TIC Market, by Service
  • Testing Services
  • Inspection Services
  • Certification Services
TIC Market, by End User
  • Consumer Goods and Retail
  • Agriculture and Food
  • Oil & Gas
  • Construction
  • Chemicals
  • Mining
  • Machinery
  • Transportation
  • Automotive
  • Power Generation
  • Government
  • Marine
  • Healthcare
  • Financial Institutions
  • Others
TIC Market, by Geography:
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Rest of Asia-Pacific
  • Latin America
  • Middle East & Africa
1. INTRODUCTION

1.1. Market Definition
1.2. Currency and Limitations
  1.2.1. Currency
  1.2.2. Limitations

2. RESEARCH METHODOLOGY

2.1. Research Approach
2.2. Data Collection & Validation
  2.2.1. Secondary Research
  2.2.2. Primary Research
2.3. Market Assessment
  2.3.1. Market Size Estimation
  2.3.2. Bottom-Up Approach
  2.3.3. Top-Down Approach
  2.3.4. Growth Forecast
2.4. Assumptions for the Study

3. EXECUTIVE SUMMARY

3.1. Market Analysis, by Service
3.2. Market Analysis, by Industry Vertical
3.3. Market Analysis, by Geography
3.4. Competitive Analysis

4. MARKET INSIGHTS

4.1. Introduction
4.2. Market Dynamics
4.3. Drivers
  4.3.1. Strict Regulatory Standards Imposed by Governments
  4.3.2. Rise in Illicit Trade of Forged and Pirated Goods
  4.3.3. Inclination Towards Outsourcing TIC Services
4.4. Restraints
  4.4.1. Dynamic International Regulatory Standards Across Regions
4.5. Opportunities
  4.5.1. Surge in Consumer Awareness Towards Food Safety
4.6. Challenges
  4.6.1. Lack of Testing Facilities and Skilled Resources
4.7. Trends
  4.7.1. Use of Simulation in Product Testing and Validation
4.8. Impact of Covid-19 on the Testing, Inspection, and Certification Market
  4.8.1. Scenario A: Severe Impact
  4.8.2. Scenario B: Moderate Recovery
  4.8.3. Scenario C: Fast Recovery
4.9. Case Study: Testing, Inspection and Certification Market
  4.9.1. Case Study-A
  4.9.2. Case Study-B
  4.9.3. Case Study-C
  4.9.4. Case Study-D
  4.9.5. Case Study-E

5. TESTING INSPECTION AND CERTIFICATION MARKET, BY SERVICE

5.1. Introduction
5.2. Testing Services
5.3. Inspection Services
5.4. Certification Services

6. TESTING, INSPECTION, AND CERTIFICATION MARKET BY INDUSTRY VERTICAL

6.1. Introduction
6.2. Agriculture and Food
6.3. Consumer Goods and Retail
6.4. Construction
6.5. Machinery
6.6. Oil & Gas
6.7. Chemicals
6.8. Automotive
6.9. Mining
6.10. Transportation
6.11. Healthcare
6.12. Power Generation
6.13. Marine
6.14. Government
6.15. Financial Institutions
6.16. Others

7. TESTING, INSPECTION, AND CERTIFICATION MARKET, BY GEOGRAPHY

7.1. Introduction
7.2. Europe
  7.2.1. Germany
  7.2.2. U.K
  7.2.3. France
  7.2.4. Italy
  7.2.5. Spain
  7.2.6. Rest of Europe
7.3. Asia-Pacific
  7.3.1. China
  7.3.2. Japan
  7.3.3. India
  7.3.4. Rest of Asia-Pacific
7.4. North America
  7.4.1. U.S
  7.4.2. Canada
7.5. Middle East & Africa
7.6. Latin America

8. COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Market Share Analysis

9. COMPANY PROFILES (BUSINESS OVERVIEW, FINANCIAL OVERVIEW, PRODUCT PORTFOLIO, STRATEGIC DEVELOPMENTS)

9.1. SGS S.A
9.2. Bureau Veritas S.A.
9.3. Intertek Group Plc
9.4. T?V S?D
9.5. Dekra SE
9.6. T?V Rheinland AG Group
9.7. Applus+
9.8. Eurofins Scientific SE
9.9. British Standards Institution (BSI) Group
9.10. Lloyd’s Register Group Limited
9.11. Mistras Group, Inc.
9.12. DNV GL
9.13. Element Materials Technology
9.14. ALS
9.15. UL LLC

10. APPENDIX

10.1. Questionnaire
10.2. Available Customization

LIST OF TABLES

Table 1 Currency Conversion Rate, 2016–2019
Table 2 Impact Assessment of Covid-19 On The Testing, Inspection and Certification Market (USD Million)
Table 3 Global Testing, Inspection, and Certification Market Size, by Service, 2018–2027 (USD Million)
Table 4 Global Testing Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 5 Global Inspection Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 6 Global Certification Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 7 Global Testing, Inspection, and Certification Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 8 Global Testing, Inspection and Certification Market Size for Agriculture & Food Vertical, by Country/Region 2018–2027 (USD Million)
Table 9 Global Testing, Inspection and Certification Market Size for Consumer Goods and Retail Vertical, by Country/Region 2018–2027 (USD Million)
Table 10 Global Testing, Inspection and Certification Market Size for Construction Vertical, by Country/Region, 2018-2027 (USD Million)
Table 11 Global Testing, Inspection & Certification Market Size for Machinery Vertical, by Country/Region, 2018–2027 (USD Million)
Table 12 Global Testing, Inspection and Certification Market Size for Oil & Gas Vertical, by Country/Region 2018–2027 (USD Million)
Table 13 Global Testing, Inspection and Certification Market Size for Chemicals, by Country/Region 2018–2027 (USD Million)
Table 14 Global Testing, Inspection and Certification Market Size for Automotive Vertical, by Country/Region 2018–2027 (USD Million)
Table 15 Global Testing, Inspection and Certification Market Size for Mining, by Country/Region, 2018-2027 (USD Million)
Table 16 Global Testing, Inspection and Certification Market Size for Transportation, by Country/Region 2018–2027 (USD Million)
Table 17 Global Testing, Inspection and Certification Market Size for Healthcare & Life Sciences Vertical, by Country/Region, 2018-2027 (USD Million)
Table 18 Global Testing, Inspection and Certification Market Size for Power Generation Vertical, by Country/Region, 2018-2027 (USD Million)
Table 19 Global Testing, Inspection and Certification Market Size for Marine Vertical, by Country/Region 2018–2027 (USD Million)
Table 20 Global Testing, Inspection and Certification Market Size for Government Vertical, by Country/Region 2018–2027 (USD Million)
Table 21 Global Testing, Inspection & Certification Market Size for Financial Institutions, by Country/Region, 2018–2027 (USD Million)
Table 22 Global Testing, Inspection & Certification Market Size for Other Industry Verticals, by Country/Region, 2018–2027 (USD Million)
Table 23 Global Testing, Inspection, and Certification Market Size, by Country/Region, 2018–2027 (USD Million)
Table 24 Europe: TIC Market Size, by Country, 2018–2027 (USD Million)
Table 25 Europe: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 26 Europe: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 27 Germany: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 28 Germany: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 29 U.K: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 30 U.K: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 31 France: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 32 France: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 33 Italy: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 34 Italy: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 35 Spain: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 36 Spain: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 37 Rest of Europe: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 38 Rest of Europe: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 39 Asia-Pacific: TIC Market Size, by Country, 2018–2027 (USD Million)
Table 40 Asia-Pacific: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 41 Asia-Pacific: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 42 China: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 43 China: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 44 Japan: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 45 Japan: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 46 India: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 47 India: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 48 Rest of Asia-Pacific: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 49 Rest of Asia-Pacific: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 50 North America: TIC Market Size, by Country, 2018–2027 (USD Million)
Table 51 North America: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 52 North America: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 53 U.S: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 54 U.S: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 55 Canada: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 56 Canada: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 57 Middle East & Africa: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 58 Middle East & Africa: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 59 Latin America: TIC Market Size, by Service, 2018–2027 (USD Million)
Table 60 Latin America: TIC Market Size, by Industry Vertical, 2018–2027 (USD Million)
Table 61 Recent Developments by Major Players During 2017–2019

LIST OF FIGURES

Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Key Secondary Resources
Figure 5 Primary Research Techniques
Figure 6 Key Executives Interviewed
Figure 7 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 8 Market Sizing and Growth Forecast Approach
Figure 9 Key Insights
Figure 10 Testing, Inspection & Certification Market, by Service, 2020 Vs.2027
Figure 11 Testing, Inspection & Certification Market, by Industry Vertical, 2020 Vs. 2027
Figure 12 Testing, Inspection and Certification Market, by Region
Figure 13 Impact Assessment of Covid-19 on the TIC Market (Market Growth)
Figure 14 Global Testing, Inspection, And Certification Market Size, by Service, 2020–2027 (USD Million)
Figure 15 Global Testing, Inspection, And Certification Market Size, by Industry Vertical, 2020–2027 (USD Million)
Figure 16 Testing, Inspection & Certification Market Size, by Geography, 2020–2027 (USD Million)
Figure 17 Geographic Snapshot: European TIC Market
Figure 18 Geographic Snapshot: Asia-Pacific TIC Market
Figure 19 Geographic Snapshot: North American TIC Market
Figure 20 Growth Strategies Adopted by The Key Players
Figure 21 Testing, Inspection and Certification Market: Competitive Benchmarking
Figure 22 Global TIC Market Share, by Key Players, 2020
Figure 23 SGS S.A: Financial Overview, 2019
Figure 24 Bureau Veritas S.A.: Financial Overview, 2019
Figure 25 Intertek Group Plc: Financial Overview, 2019
Figure 26 T?V S?D: Financial Overview, 2019
Figure 27 Dekra SE: Financial Overview, 2019
Figure 28 T?V Rheinland AG Group: Financial Overview, 2019
Figure 29 Applus+: Financial Overview, 2019
Figure 30 Eurofins Scientific Se: Financial Overview, 2019
Figure 31 British Standards Institution (BSI) Group: Financial Overview, 2019
Figure 32 Lloyd’s Register Group Limited: Financial Overview, 2019
Figure 33 Mistras Group, Inc.: Financial Overview, 2019
Figure 34 DNV Gl: Financial Overview, 2019
Figure 35 ALS: Financial Overview, 2020


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