Europe Testing, Inspection, and Certification (TIC) Services Market to witness growth more than $85bn by 2024

The Europe TIC market is propelled by the growing trend of outsourcing the TIC services to various third-party service providers. The manufacturing facilities and large corporations are gradually outsourcing the TIC operations to reduce their operating costs and focus on their core business competencies. The organizations, such as the European Telecommunications Standards Institute, and European Committee for Standardization, are constantly developing new guidelines to maintain product safety and prevent the influx of counterfeit products. This is also further adding to TIC market growth.  According to the Graphical Research new growth forecast report titled Europe Testing, Inspection and Certification (TIC) Services Market Size By Application (Agriculture & Food, Life Science, Construction, Consumer Product, Transportation, Energy, Oil, Gas, & Chemical, Mining), By Service (Testing, Inspection, Certification), By Type (In-House, Outsource), Countries Outlook (UK, Germany, France, Italy, Spain, Russia, Denmark), Industry Forecast, 2018 – 2024”, estimated to exceed USD 85 Billion By 2024.

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The agriculture & food industry is predicted to grow at a CAGR of over 8% over the forecast timeline. The rising focus by government establishments to improve food safety is a primary factor prompting the use of TIC services in the agriculture & food sector. The increasing number of food contamination occurrences is driving regulatory bodies to develop compliance regulations to curb the number of foodborne diseases. Furthermore, the surge in trade between countries and the emergence of global food supply chains are further adding to the demand for TIC services in the sector.

UK TIC market accounted for over 20% revenue in the Europe region. The presence of numerous TIC players such as Testhouse Ltd., Test Pro, and Testing Solutions Group Ltd. are driving the market growth. These companies receive outsourcing projects from offshore countries including the U.S., Hungary, Portugal, and Australia. The primary challenge restraining the growth of these companies is the inexpensive services offered by TIC providers in China, India, and the Philippines. Brexit has opened new channels for free trade and communication and provided a myriad of opportunities for offshore businesses to conduct trade in the country. This is also helping the TIC market growth in the country.

The vendors present in the Europe TIC market are TUV Rheinland, Intertek, Dekra, SGS, Applus, Bureau Veritas, and TUV SUD. The large TIC providers are acquiring regional players to increase the distributional network in the region. For instance, in October 2015, SGS acquired Le Brigand NDT, a France-based provider of non-destructive testing services. The acquisition is aimed at increasing its market share in the aviation industry.

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Segments we cover:

Europe TIC Services Market Statistics, By Providers

  • Testing
  • Inspection
  • Certification

Europe TIC Services Market Growth, By Type

  • In-house
  • Outsource

Europe TIC Services Market Trends, By Application

  • Agriculture & Food
  • Construction
  • Life Science
  • Consumer Products
  • Transportation
  • Energy
  • Oil, Gas & Chemical
  • Mining


Table of Content:

Chapter 1.Methodology & Scope

  • Market scope & definitions
  • Assumptions
  • Research methodology

Chapter 2.Executive Summary
Chapter 3.Industry Insights

  • Industry segmentation
  • Industry ecosystem analysis
  • Industry impact forces
    • Growth drivers
    • Growth restraints
  • Regulatory overview
  • Porter’s analysis
  • PESTEL analysis
  • Competitive landscape, 2019

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About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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