Testing, Inspection, And Certification (TIC) Market

 

The worldwide testing, inspection, and certification market was valued at USD 213,627.2 Million in 2020 and is expected to increase at a CAGR of 4.12 % from 2021 to 2027, reaching USD 275,234.32 millions by year.

Testing, inspection, and certification (TIC) services include audits and inspection, as well as testing, verification, quality assurance, and certification of products and equipment. These aid in enhancing manufacturing efficiency and reducing mistake by limiting risk. TIC services are used in the oil and gas business, the food industry, pharmaceuticals, the chemical industry, and other industries.

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Segmentation :

The testing, inspection, and certification market is divided into service type, sourcing type, application, industrial vertical, and geography segments. The market is segmented into three service types: testing, inspection, and certification. The market is divided into two types of sourcing: in-house and outsource. The market is segmented into applications such as quality and safety, production assessment, industrial inspection, system certification, and others. The market is segmented by industrial vertical, including agroindustry, food industry, pharmaceuticals, chemical industry, oil & gas, and others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

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Analysis by Industrial vertical

The oil and gas industry are expected to have a sizable share. With inspection and testing at regular intervals becoming obligatory in a select industry, such as oil and gas, TIC services are likely to rise in demand, regardless of industry seasonality. TIC suppliers provide comprehensive quality assurance throughout multiple phases of the oil and gas supply chain, including testing, inspection, and certification, as well as technical, consulting, engineering, and other related services, as part of their technical offerings. Because production and storage are dynamic and dependent on market fluctuations, the business presents a unique set of issues for operators.

Top Vendors in The Market

  • NTS (US)
  • Tüv Rheinland (Germany)
  • Cetecom (Germany)
  • Dekra Se (Germany)
  • Dnv Gl (Norway)
  • Element Materials Technology (UK)
  • Mistras (US)
  • ALS Limited (Australia)

 

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