The North America testing and commissioning market was worth US$ 53.2 Billion in 2018. Testing and commissioning involve a set of processes, performed to establish if a product follows universal regulatory standards or not. The certified regulations are associated to the quality, performance, and technical safety of the product. Testing and commissioning are carried out in the best interest of the customer as they provide them assistance for a safe purchase. This process is necessary at every step of the supply chain, and in most cases utilizes analytical instruments and equipment (IES) that are useful in measuring as well as detecting electrical signals, biological interaction and physical properties. Some of the major testing and commissioning equipment include product simulation systems, analytical laboratory instruments, diagnostic equipment, and sensors and data acquisition instruments. Looking forward, the North America testing and commissioning market is expected to reach a value of US$ 72.7 Billion by 2024, exhibiting a CAGR of around 5.2% during 2019-2024.
North America Testing and Commissioning Market Drivers:
Breakup by Service Type:
Testing services currently represent the largest segment owing to rising concerns regarding the overall quality of the product.
Sourcing Type Insights:
In-house sourcing is currently the most popular type of sourcing.
Commissioning Type Insights:
Initial commissioning represents the most popular commissioning type as it is the basic step which is required for satisfying a product specification.
Oil and Gas industry dominates the end-use segment, holding the majority of the market share.
The United States currently represents the biggest market for testing and commissioning in North America, followed by Canada. This can be accredited to the presence of strict guidelines and regulations in numerous end-use industries including infrastructure and construction, oil and gas, and Chemical industries.
The North America testing and commissioning market consists of numerous small and large manufacturers. Some of the leading players operating in the market are:
This report provides a deep insight into the North America testing and commissioning market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America testing and commissioning market in any manner.
Key Questions Answered in This Report:
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