© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Testing, Inspection and Certification Market Growth Outlook with Industry Review and Forecasts from : Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Asia Pacific TIC market is expected to witness a considerable growth over the forecast timespan. Growing number of manufacturing facilities in India and China is aiding the growth of the market in the region. Improved standard of living has led to the demand for better-quality products that require strict testing and certification rules to be followed, driving the regional growth. Moreover, rapid industrialization in Latin America leading to an increase in the number of imports and exports is projected to propel the TIC market in the region.  Stringent rules and specified standards adhering to international standards are imposed on import-export materials by the government & international standardization institutions. It is expected to provide impetus to the rising demand for various certification services. Awareness among companies about the fact that certifications enhance the marketability and validate the compliance of their products is fueling the TIC market growth. Regional Analysis of Testing, Inspection and Certification Market:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Application Analysis of Testing, Inspection and Certification Market:  By application type, the TIC market is categorized as consumer goods and retail, transportation, chemicals, agriculture & food, construction & infrastructure, mining, oil & gas, energy & power, industrial & manufacturing, and supply chain & logistics. The transportation segment is anticipated to witness a significant growth over the forecast timespan.  This growth can be attributed to the rising production of vehicles followed by the increasing demand for passenger safety. However, the use of preservatives in packaged food products is on a rise compelling the demand for stringent regulations in product manufacturing, driving the agriculture & food segment growth.  In the recent years, rising standards owing to the environment and human safety are becoming compulsory for certain category of products, driving the demand for such services. Due to the increasing regulations and standards, companies can no longer build in-house inspection and testing capabilities, which are projected to increase the number of third-party service providers. To reduce the cost-related to testing services, industry players operating in various domains are increasingly outsourcing services, contributing to the TIC market growth.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Major players in the TIC market include Eurofins Scientific, TUV Rheinland, TUV Nord, Avomeen Analytical Services, SGS, Bureau Veritas, Intertek, Eurofins Scientific and Element Materials Technology Medistri, Mistras, Dekra, DNV GL, TUV SUD, Lloyd’s Register, Applus, and ALS.  The players operating in the industry are increasingly focusing on enhancing the service portfolio, expanding to the potential region. For instance, in 2017, Bureau Veritas announced the acquisition of ICTK Co., Ltd. aimed at expanding its testing services business in South Korea. Competitive Market Share of Testing, Inspection and Certification Market:

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