San Francisco, 25 February, China Testing, Inspection, and Certification
(TIC) Market Analysis Report By Sourcing Type, By Service Type, By Application
(Transportation, Healthcare, Consumer Goods & Retail), And Segment
Forecasts, 2018 – 2025.
The Chinatesting, inspection, and certification (TIC) market size is anticipated to reach USD 55.1 billion by
2025, according to a new report by Grand View Research, registering a 9.1% CAGR
during the forecast period.
High standards of living of
Chinese citizens and increased focus of customers on quality and safety of food
products and consumer goods such as toys, personal care and beauty products,
and electrical and electronic appliances are driving the market.
The China TIC market is
expected to register strong growth owing to government investments in the
transportation, energy, and construction sectors. The Chinese government has
introduced favorable policies for international players to establish their
foothold in the country and to achieve progressive liberalization.
Previously, most companies in
China conducted their testing, inspection, and certification operations
in-house. However, with growing acceptance of the China Compulsory
Certification (CCC), greater emphasis is placed on need for strict regulatory
standards and certifications and this has led to increase in outsourcing TIC
activities in China due to cost benefits. This growing trend of outsourcing is
anticipated to further drive the market over the forecast period. Increased
accessibility of the domestic market for international players and provision of
cost-effective solutions by TIC service providers will also benefit the market.
Leading industry participants
include AsureQuality Limited, Bureau Veritas SA, DEKRA SE, DNV GL Group AS,
Intertek Group PLC, Lloyd’s Register Group Limited, and SGS S.A. Other notable
players in the market include TUV Rheinland AG Group; Underwriters Laboratories
Inc.; Asia Quality Focus; HQTS Group Ltd.; InTouch Services Ltd.; China
Inspection Co., Ltd.; Centre Testing International; China Certification &
Inspection Group; Asia Quality Control; V-Trust; TUV SUD; TUV Nord; American
Bureau of Shipping; Hartford Steam Boiler; Larsen & Toubro; Asia
Inspection; China Building Material Test & Certification Group Co. Ltd.;
China Special Equipment Inspection and Research Institute; and China
Classification Society.
Access Full Research
Report On China Testing, Inspection, and Certification (TIC) Market Analysis:
Further key findings from the report suggest:
·
The China TIC market is
witnessing considerable growth owing to increasing number of investments from
international incumbents
·
By service, the inspection
segment is expected to register the highest CAGR of 10.3% over the forecast
period
·
TIC forms an integral part of
the infrastructure and transportation sectors in China and hence, the growth of
these two sectors is expected to drive demand for testing inspection, and
certification activities
·
Key industry participants
include AsureQuality Limited, Bureau Veritas SA, DEKRA SE, DNV GL Group AS,
Intertek Group PLC, Lloyd’s Register Group Limited, and SGS S.A.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/technology
Grand View Research has segmented the China
testing, inspection, and certification (TIC) market based on service type,
sourcing type, and application:
China TIC Service Type Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Testing
·
Inspection
·
Certification
China TIC Sourcing Type Outlook
(Revenue, USD Billion, 2014 - 2025)
·
In-house
·
Outsourced
China TIC Application Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Consumer Goods & Retail
o
Personal Care & Beauty
Products
o
Hard Goods
o
Soft-liners & Accessories
o
Toys & Juvenile Products
o
Electrical & Electronics
o
Others (Detergents and
Non-woven products)
·
Agriculture & Food
o
Seed & Crop
o
Fertilizers
o
Commodities
o
Beverages
o Alcoholic
o Beer
o Spirits
o Wine
o Others (Cider and Cocktails)
o Non-alcoholic
o Carbonated soft drinks
o Fruit drinks
o Bottled water
o Functional beverages
o Sports drinks
o Others (Milk-based drinks)
o
Others (Forestry and Food
packaging)
·
Chemicals
o
Asset Integrity Management
Services
o
Project Life Cycle Services
o
Finished Product Services
o
Chemical Feedstock Services
o
Others (Lab design and Operation
& Commissioning)
·
Infrastructure
o
Project Management
o
Material Services
o
Construction Machinery &
Equipment Services
o
Facilities Management &
Inspection Services
o
Others (Supply Chain Services
and Quality Health & Safety)
·
Energy & Power
o
Energy sources
o Nuclear
o Wind
o Solar
o Alternative fuels
o Fuel Oil & Gases
o Coal
o Hydropower
o Others (Geothermal energy, Tidal energy)
o
Power generation
o
Power Distribution
o
Asset Integrity Management
Services
o
Project Life Cycle Services
o
Others (Technical Staffing and
Quality & Safety)
·
Manufacturing
o
Suppliers Related Services
o
Production & Products
Related Services
o
Projects Related Services
o
Others (Logistics and Safety)
·
Healthcare
o
Medical Devices
o
Health, Beauty, and Wellness
o
Clinical Services
o
Laboratory Services
o
Biopharmaceutical & Pharmaceutical
Services
o
Others (Training and Staffing)
·
Mining
o
Inspection & Sampling
Service
o
Analytical Service
o
Exploration Service
o
Metallurgy & Process Design
o
Production & Plant Services
o
Project Risk Assessment &
Mitigation
·
Oil & Gas and Petroleum
o
Upstream
o
Midstream
o
Downstream
o
Biofuels & Feedstock
o
Petrochemicals
o
Asset Integrity Management
Services
o
Project Life Cycle Services
o
Others (Functional safety
services)
·
Public Sector
o
Product Conformity Assessment
o
Monitoring Services
o
Valuation Services
o
Others (Road Safety Traffic,
E-government, and Technical Verification Programs)
·
Transportation
o
Automotive
o Electrical Systems & Components
o Electric Vehicles, Hybrid Electric Vehicles, and Battery
Systems
o Telematics
o Fuels, Fluids, and Lubricants
o Interior and Exterior Materials and Components
o Vehicle Inspection Services (VIS)
o Homologation Testing
o Others (Aftermarket distribution)
o
Aerospace & Defense
o Services for Airports
o Services for Aviation
o Services for Aerospace
o
Marine
o Marine Fuel Systems & Component Services
o Ship Classification Services
o Marine Materials & Equipment Services
o Others (Cargo, Crane, and Vessel)
o
Rail
o Rail Testing Services
o Rail Inspection Services
o Rail Certification Services
o Others (Lab Testing and Supplier Accreditation)
·
Supply Chain & Logistics
o
Packaging & Handling
o
Risk Management
o
Others (Audits, Certification,
and Training)
·
Others
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/china-testing-inspection-certification-tic-market-analysis
www.grandviewresearch.com/press-release/china-testing-inspection-certification-tic-market-analysis
About Grand
View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/
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