Testing, Inspection and Certification (TIC) Market Report: Trends, Forecast and Competitive Analysis to 2030

Testing, Inspection and Certification (TIC) Trends and Forecast

The future of the global testing, inspection and certification (TIC) market looks promising with opportunities in the consumer goods and retail, medical and life science, agriculture and food, chemical, construction and infrastructure, energy and power, industrial and manufacturing, mining, oil & gas and petroleum, automotive markets. The global testing, inspection and certification (TIC) market is expected to reach an estimated $290.2 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are growing demand of enterprises and corporations to engage in safe and efficient testing, inspection, and certification practices, growth of the transportation and logistics sector, and increasing infrastructure and renewable energy generation.

A more than 150-page report is developed to help in your business decisions.

Testing, Inspection and Certification (TIC) by Segment

The study includes a forecast for the global testing, inspection and certification (TIC) by sourcing type, service type, application, and region.

Testing, Inspection and Certification (TIC) Market by Sourcing Type [Shipment Analysis by Value from 2018 to 2030]:

• In-House Sourcing
• Outsourced Sourcing

Testing, Inspection and Certification (TIC) Market by Service Type [Shipment Analysis by Value from 2018 to 2030]:

• Testing Service
• Inspection Service
• Certification Service
• Others

Testing, Inspection and Certification (TIC) Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Consumer Goods and Retail
• Medical and Life Science
• Agriculture and Food
• Chemicals
• Construction and Infrastructure
• Energy and Power
• Industrial and Manufacturing
• Mining
• Oil & Gas and Petroleum
• Automotive

Testing, Inspection and Certification (TIC) Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Testing, Inspection and Certification (TIC) Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies testing, inspection and certification (TIC) companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the testing, inspection and certification (TIC) companies profiled in this report include-

• SGS
• Bureau Veritas
• Intertek Group
• Eurofins Scientific
• DEKRA
• TUV SUD
• DNV GL
• Applus+
• ALS

Testing, Inspection and Certification (TIC) Market Insights

Lucintel forecast that testing will remain the highest growing segment over the forecast period due to growing industrial investment, rising demand for consumer products, as well as increasing usage of testing practices in automotive, energy & utilities, oil & gas and petroleum, and the manufacturing industry.

APAC will remain the largest region over the forecast period because of the growing economic development in countries such as China, India, Japan, and South Korea, rising industrial and manufacturing activity in the region, as well as rapidly developing ai technology ecosystem in Singapore.

Features of the Global Testing, Inspection and Certification (TIC) Market

Market Size Estimates: Testing, inspection and certification (TIC) market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Testing, inspection and certification (TIC) market size by sourcing type, service type, application, and region in terms of value ($B).

Regional Analysis: Testing, inspection and certification (TIC) market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different sourcing type, service type, application, and regions for the testing, inspection and certification (TIC) market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the testing, inspection and certification (TIC) market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the testing, inspection and certification (TIC) market size?

Answer: The global testing, inspection and certification (TIC) market is expected to reach an estimated $290.2 billion by 2030.

Q.2 What is the growth forecast for testing, inspection and certification (TIC) market?

Answer: The global testing, inspection and certification (TIC) market is expected to grow with a cagr of 3.2% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the testing, inspection and certification (TIC) market?

Answer: The major drivers for this market are growing demand of enterprises and corporations to engage in safe and efficient testing, inspection, and certification practices, growth of the transportation and logistics sector, and increasing infrastructure and renewable energy generation.

Q4. What are the major segments for testing, inspection and certification (TIC) market?

Answer: The future of the global testing, inspection and certification (TIC) market looks promising with opportunities in the consumer goods and retail, medical and life science, agriculture and food, chemical, construction and infrastructure, energy and power, industrial and manufacturing, mining, oil & gas and petroleum, automotive markets.

Q5. Who are the key testing, inspection and certification (TIC) market companies?

Answer: Some of the key testing, inspection and certification (TIC) companies are as follows:

• SGS
• Bureau Veritas
• Intertek Group
• Eurofins Scientific
• DEKRA
• TUV SUD
• DNV GL
• Applus+
• ALS

Q6. Which testing, inspection and certification (TIC) market segment will be the largest in future?

Answer: Lucintel forecast that testing will remain the highest growing segment over the forecast period due to growing industrial investment, rising demand for consumer products, as well as increasing usage of testing practices in automotive, energy & utilities, oil & gas and petroleum, and the manufacturing industry.

Q7. In testing, inspection and certification (TIC) market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period because of the growing economic development in countries such as China, India, Japan, and South Korea, rising industrial and manufacturing activity in the region, as well as rapidly developing ai technology ecosystem in Singapore.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the testing, inspection and certification (TIC) market by sourcing type (in-house sourcing and outsourced sourcing), service type (testing service, inspection service, certification service, and others), application (consumer goods and retail, medical and life science, agriculture and food, chemicals, construction and infrastructure, energy and power, industrial and manufacturing, mining, oil & gas and petroleum, and automotive), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?