China Testing, Inspection And Certification Market size was accounted for USD 33.1 billion in the year 2019 and is projected to grow with a CAGR of 7.8% over the forecast period, 2020 to 2027. Growing foreign investment in China to achieve progressive liberalization is expected to be a major factor for the market growth in China. In addition, the Chinese government has implemented some favorable policies for foreign players to establish their presence in the country which is anticipated to have a positive impact on market growth.
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The key driving factors responsible for the growth of China Testing, Inspection And Certification market :
The Chinese government has allowed easy entry to international players by uplifting barriers for foreign companies providing TIC solutions in the market that is being dominated by players operating in the country. The increasing popularity of TIC services for developing and accelerating smart technologies like smart vehicles and smart cities is projected to augment market growth. Increasing implementation of new regulations and standards, growing government alliances and rising necessity of third party inspection service are the key factors that are projected to drive the market growth.
The number of companies in this industry is implementing strategies such as mergers and acquisitions to strengthen their position in the market. For example, in 2018, Intertek Group PLC acquired a Colombia-based service testing provider Proasem. This acquisition aims to spread Intertek Group PLC business in Latin America and Colombia to increase their customer base. In 2018, U.K based a cyber security solution provider, Nettitude acquired by Lloyd's Register Group Limited to strengthen its cyber security certifications and services.
Service Insights
On the basis of service, the China TIC market is segmented into inspection, testing, and certification. Testing help to determine the multiple characteristics of products to follow conformity assessment. This segment is projected to account for the largest market share during the forecast period. This is due to the increasing demand across various end-use verticals such as transportation, manufacturing, construction and automotive in order to analyse the quality of material, components and chemicals.
The inspection services segment is projected to grow with the fastest CAGR of over 8.5% from 2020 to 2027. This growth is attributed to the growing number of infrastructure and construction development projects in China. Vendors operating in this industry are concentrating on expanding their business through an increasing number of inspection stations. Therefore, market players are adopting some strategies like mergers and acquisitions. For example, in 2018, DEKRA SE announced the acquisition of U.S. based vehicle testing service provider Jiffy Smog’s emission inspection business. This acquisition aims to increase DEKRA SE’s business in the U.S. by providing 24 emission inspection stations.
Sourcing Type Insights
By sourcing type, the China TIC market is segmented into outsourced and in-house. The in-house segment is expected to lead the market over the forecast period. In recent years, most of the companies prefer to adopt in-house inspection, as it saves the cost of a company required for involving third party inspection. However, the cost for in-house TIC services is increased due to the growing number of standards and regulations by the government. Therefore, several companies have started to outsource the TIC services from third-party service providers.
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The Automotive Testing, Inspection and Certification (TIC) sector consists of conformity assessment bodies that provide services ranging from auditing and inspection, to testing, verification, quality assurance and certification.The rising number of accidents, increasing automation in vehicles, advanced and more sophisticated components and features of a vehicle, increasing pollution, these are factors due to which demand for vehicle tasting and inspection is increasing day by day.In 2017, Europe dominated the automotive testing, inspection, and certification market with 43.7% share, thanks to the presence of some of the world?s leading automotive manufacturers and a steadily expanding domestic automotive industry.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-testing-inspection-certification-2019-2024-114North America also accounts for a significant share in the global market owing to the well-established automotive sector.
In regions like Europe and North America, stringent rules for periodic vehicle inspection and testing are laid down so as to ensure the safety of human life.
These regulations are also key drivers for the automotive testing, inspection, and certification market in these regions.According to this study, over the next five years the Automotive Testing, Inspection, and Certification market will register a 5.4% CAGR in terms of revenue, the global market size will reach US$ 18200 million by 2024, from US$ 14000 million in 2019.
In particular, this report presents the global revenue market share of key companies in Automotive Testing, Inspection, and Certification business, shared in Chapter 3.This report presents a comprehensive overview, market shares and growth opportunities of Automotive Testing, Inspection, and Certification market by product type, application, key companies and key regions.This study considers the Automotive Testing, Inspection, and Certification value generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.TestingInspectionSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.Passenger CarsCommercial VehiclesThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report: Breakdown data in in Chapter 3.DEKRAT?V S?D GroupBureau VeritasApplus ServicesSGS GroupIntertek GroupT?V Rheinland GroupT?V Nord GroupResearch objectives:To study and analyze the global Automotive Testing, Inspection, and Certification market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Automotive Testing, Inspection, and Certification market by identifying its various subsegments.Focuses on the key global Automotive Testing, Inspection, and Certification players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Automotive Testing, Inspection, and Certification with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of Automotive Testing, Inspection, and Certification submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/automotive-and-transportation/global-automotive-testing-inspection-certification-2019-2024-114Table of content1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Automotive Testing, Inspection, and Certification Market Size 2014–20242.1.2 Automotive Testing, Inspection, and Certification Market Size CAGR by Region2.2 Automotive Testing, Inspection, and Certification Segment by Type2.2.1 Testing2.2.2 Inspection2.2.3 Certification2.3 Automotive Testing, Inspection, and Certification Market Size by Type2.3.1 Global Automotive Testing, Inspection, and Certification Market Size Market Share by Type (2014–2019)2.3.2 Global Automotive Testing, Inspection, and Certification Market Size Growth Rate by Type (2014–2019)2.4 Automotive Testing, Inspection, and Certification Segment by ApplicationCONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
Poland Testing, Inspection & Certification Market Predominantly Gaining Traction from the Automotive and Manufacturing Industries While the Industry Players Are Also Identifying Lucrative Opportunities in the Catapulting Construction Activities and Aerospace, Mining, and Energy Sectors.
The report covers Poland Testing, Inspection & Certification Market size by type and applications, Poland Testing, Inspection & Certification Market share by top 5 companies and also the market share by start-ups during the forecast period.Primarily driven by the booming Polish automotive industry, Poland testing, inspection & certification market is also making strides due to the growing food & beverages industry in the country, which is creating a consistent demand for food testing.
On the other hand, the infrastructure development is increasing the construction activities across the country which is also supporting the Poland inspection market, mainly because radiographic and ultrasonic testing for leakage detection is an integral part of the industrial construction projects.
There are three major infrastructure projects in Poland with hefty investments and abundant scope for the inspection market companies operating in the country.
The projects are – development of green areas around the PGE Nation Stadium in Warsaw, protection from floodwaters of Vitsula River, and S6 bypass of the Tri-City Metropolis with $306 million, $690 million, and $380 million worth investments respectively.
Furthermore, the Global Infrastructure Hub has projected the infrastructure investment need in Poland to be $24 billion by the end of 2025.
