Global Testing and Commissioning Market to Grow at 4.4% During 2024-2032, Impelled by Considerable Rise in Global Trade

December 26, 2018 | Other Reports

According to the latest report by IMARC Group, titled "Testing and Commissioning Market Report by Service Type (Testing, Certification, Commissioning), Commissioning Type (Initial Commissioning, Retro Commissioning, Monitor-Based Commissioning), Sourcing Type (Inhouse, Outsourced), End Use Sector (Construction, Industrial, Consumer Products, Life Sciences, Oil and Gas, Food and Agriculture, Marine and Offshore, Transport and Aerospace, Energy and Power, Chemicals, and Others), and Region 2024-2032," the global testing and commissioning market size reached US$ 243.1 Billion in 2023. Testing and commissioning is the set of procedures that are designed to validate the safety and performance of a product. It is crucial for ensuring that the product meets the design requirements, the mandated national and international regulations, and industry quality and safety standards. Also known as testing, inspection, and certification (TIC), it comprises a systematic set of tests, including inspections, documentary checks, data consistency verification, on-site or laboratory testing, and management process audits, that are performed throughout the supply chain and across diverse industry verticals. This is done in order to warrant that the end users receive optimal quality products and services with excellent functioning.

Global Testing and Commissioning Market Trends:

The market is primarily driven by the rapid globalization that has resulted in a significant increase in trade activities between different countries. This, consequently, has led to the emergence of complex supply chains and subsequently to the rising demand for enhanced testing, inspection, and certification services that comply with international standards. There has also been an increase in the requirement of outsourcing testing, inspection and certification services across various industries in an attempt to minimize the costs associated with in-house testing. This, along with the implementation of revised strict regulatory standards concerning the health, environment and quality safety of products, is providing a thrust to the market growth. Moreover, key market players are now providing premium testing and commissioning services to end users by integrating advanced tools, such as big data and digital processing. They are also engaging in merger and acquisition (M&A) activities to expand their geographical footprint and offer improved services with the utilization of advanced tools, which is expected to create a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 4.4% during 2024-2032.

Market Summary:

  • Based on the service type, testing represents the most popular service type. Some of the other segments include commissioning and certification.
  • On the basis of the sourcing types, the market has been bifurcated into in-house and outsourced segments, wherein in-house sourcing exhibits a clear dominance in the market.
  • Based on the commissioning type, the market has been divided into initial, retro and monitor-based commissioning. Amongst these, initial commissioning dominates the market, holding the largest share.
  • On the basis of the end use sector, the market has been classified into construction, industrial, consumer products, life sciences, oil and gas, food and agriculture, marine and offshore, transport and aerospace, energy and power, chemicals and other industries. At present, the construction industry accounts for the majority of the total market share.
  • Region-wise, Europe holds the leading position in the market. Some of the other regions include North America, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include being SGS SA, Bureau Veritas SA, Intertek Group plc, DEKRA SE, and TUV SUD AG.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Service Type, Commissioning Type, Sourcing Type, End Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered SGS SA, Bureau Veritas SA, Intertek Group plc, DEKRA SE, and TUV SUD AG
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Testing and Commissioning Market to Grow at 4.4% During 2024-2032, Impelled by Considerable Rise in Global Trade
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