Global Testing, Inspection And Certification Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Testing, Inspection, Certification), By End-User (Agriculture, Automotive, Healthcare, Oil & Gas, Food And Beverage, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Sep 2021
- Report Code : KSI061610368
- Pages : 123
The global testing inspection & certification market is expected to grow at a compound annual growth rate of 6.01% over the forecast period to reach a market size of US$338.567 billion in 2026, from US$225.018 billion in 2019. The shift towards a tougher and complex regulation and standard across a variety of industries is driving the testing, inspection, and certification market. Moreover, the increasing trend of globalization along with the rapid growth in the exported goods from the developing to the developed nation is further driving the market. The rising urbanization and increasing disposable income are also expected to play a major role in the market growth, in the coming years. According to the World Bank, 68% of the world's population is expected to reside in urban areas by the year 2050, up from 55% in 2019. The demand for high-quality products has been surging at an exponential rate, in the past few years. Major developing countries have been enhancing and improving their testing, inspection, and certification measures. India and China are expected to play a major role in the market growth, in the coming years.
Growth in agriculture trade.
The market is expected to surge in the coming years, due to the rise in agricultural trade, worldwide. According to the data given by the World Trade Organization, global agricultural exports have more than doubled in volume and tripled in value, since the year 1995, and had exceeded US$1.8 trillion in the year 2019. There has been a rise in share in imports and exports from developing nations. According to the data given by UNCTAD, the share of total food exports and imports accounted for by developing nations rose from 31% to around 40%, and 26% to around 39%, between the years 1995 to 2016. The increase in testing and certification has to the rise in the quality of food products, which is expected to play a major role in the market growth. Major companies have been making significant developments in the market. For instance, Intertek, one of the key players in the market, assist during production inspection, final inspection, and loading supervision to ensure that all safety and quality requirements have been met.
Growth in the oil & gas sector.
The market is expected to surge in the coming years, due to the growth in the oil & gas sector, worldwide. According to the data given by the International Energy Agency, global oil demand rose by 1.1 million barrels per day, in the third quarter of the year 2019. Countries, such as the United States, Russia, and Saudi Arabia have been making significant developments in the market. The United States has been expected to export more oil than Russia, by the year 2024. In the year 2019, The United States shale oil had been powering the global oil market transformation. The increasing trade is expected to be a major factor in the overall testing, inspection, and certification market growth. Major companies have been making significant developments in the market. For instance, Bureau Veritas, one of the key players in the market, provides an experienced team of IFIA certified surveyors working at refineries, ports, and storage locations, worldwide. The company has been offering proper and accurate testing and inspection of petroleum cargo. These trends and developments are expected to play a major role in the market growth, in the coming years.
Latest Developments.
Major companies have been making significant developments in the market.
- In July 2021, SGS, testing, inspection, and certification firm had announced that it had joined forces with Uniqlo to launch and release the retailer's novel and first independently checked mark (IC Mark) for infants clothing in China. The company's IC Mark has been a major and voluntary product certification that offers producers and retailers a wider ability to show their focus on performance and quality.
- In July 2021, Intertek Group, a major player in the market, had announced the acquisition of JLA Brazil, which had been providing Agri, food, and environmental testing solutions, based in Brazil. This acquisition would allow Intertek to enter the food testing sector in Brazil. This development is expected to play a major role in the market growth, in the coming years.
Growth in the automotive sector.
The market is expected to surge in the coming years, due to the growth in the automotive sector, worldwide. According to the data given by the International Organization of Motor Vehicle Manufacturers, around 91.7 million vehicles were produced in the year 2019. Major companies have been making significant developments in the market. For instance, TUV SUD, one of the key players in the market, provides OEMs, government and transport authorities, automotive suppliers, leasing and fleet companies, car dealers with a wider and comprehensive set of mobility services to ensure that the vehicle or the product has been in compliant with highest automotive quality and safety standards.
Testing, Inspection and Certification Market Scope:
Report Metric | Details |
Market size value in 2019 | US$225.018 billion |
Market size value in 2026 | US$338.567 billion |
Growth Rate | CAGR of 6.01% from 2019 to 2026 |
Base year | 2019 |
Forecast period | 2021–2026 |
Forecast Unit (Value) | USD Billion |
Segments covered | Type, End-User, And Geography |
Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies covered | Burae Veritas, SGS SA, Dekra, TUV SUD, TUV Rheinland, Lloyd’s Register, TUV Nord, DNV GL, Warringtonfire, BSI Group |
Customization scope | Free report customization with purchase |
Segmentation:
- By Type
- Testing
- Inspection
- Certification
- By End-User
- Agriculture
- Automotive
- Healthcare
- Oil & Gas
- Food & Beverage
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- South Africa
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Thailand
- Taiwan
- Indonesia
- Australia
- Others
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the testing inspection & certification market size by 2026?
A1. The global testing inspection & certification market is expected to reach a market size of US$338.567 billion by 2026.
Q2. What is the size of the global testing inspection & certification market?
A2. Testing, Inspection And Certification Market was valued at US$225.018 billion in 2019.
Q3. What are the growth prospects for the testing inspection & certification market?
A3. The testing inspection & certification market is expected to grow at a CAGR of 6.01% over the forecast period.
Q4. How is the global testing inspection & certification market segmented?
A4. The testing inspection & certification market has been segmented by type, end-user, and geography.
Q5. What factors are anticipated to drive the testing inspection & certification market growth?
A5. The shift towards a tougher and complex regulation and standard across a variety of industries is driving the testing, inspection, and certification market.
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Testing Inspection & Certification Market Analysis, By Type
5.1. Introduction
5.2. Testing
5.3. Inspection
5.4. Certification
6. Global Testing Inspection & Certification Market Analysis, By End-User
6.1. Introduction
6.2. Agriculture
6.3. Automotive
6.4. Healthcare
6.5. Oil & Gas
6.6. Food & Beverage
6.7. Others
7. Global Testing Inspection & Certification Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. UK
7.4.2. France
7.4.3. Germany
7.4.4. Italy
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. South Africa
7.5.3. Israel
7.5.4. Others
7.6. Asia Pacific
7.6.1. Japan
7.6.2. China
7.6.3. India
7.6.4. Thailand
7.6.5. Taiwan
7.6.6. Indonesia
7.6.7. Australia
7.6.8. Others
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Burae Veritas
9.2. SGS SA
9.3. Dekra
9.4. TUV SUD
9.5. TUV Rheinland
9.6. Lloyd’s Register
9.7. TUV Nord
9.8. DNV GL
9.9. Warringtonfire
9.10. BSI Group
Burae Veritas
SGS SA
Dekra
TUV SUD
TUV Rheinland
Lloyd’s Register
TUV Nord
DNV GL
Warringtonfire
BSI Group
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