DUBLIN–(BUSINESS WIRE)–The “China Testing, Inspection, and Certification Market Size, Share & Trends Analysis Report by Service Type (Testing, Inspection, Certification), by Sourcing Type (In-house, Outsourced), by Application, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The China testing, inspection, and certification market size is anticipated to reach USD 69.75 billion by 2030. The market is expected to expand at a CAGR of 5.9% from 2022 to 2030.
The high standard of living of Chinese citizens and increased focus of customers on the quality and safety of food products and consumer goods such as toys, personal care & beauty products, and electrical & electronic appliances are driving the growth of the China testing, inspection, and certification (TIC) market.
Further, an increase in outsourcing of testing, inspection, and certification services by prominent companies operating in the manufacturing, automotive, and consumer goods application areas is projected to boost the growth.
The market is expected to witness rapid growth in China owing to the government investments in the transportation and energy sectors as well as the construction industry.
The Chinese government has introduced favorable policies for international players to establish their foothold in the country to achieve progressive liberalization. The domestic players capture a majority share of the TIC market in several Chinese provinces. The government has encouraged foreign investments in the testing, inspection, and certification market by lifting the barriers for international TIC providers to enter and operate in the Mainland marketplace.
Previously, most companies in China conducted their testing, inspection, and certification operations in-house. However, with the growing acceptance of the China Compulsory Certification (CCC), a greater emphasis is placed on the need for strict regula tory standards and certifications and this has led to an increase in outsourcing activities of TIC in China due to the cost benefits.
This growing trend of outsourcing TIC services is anticipated to further drive the growth of the Chinese TIC market over the forecast period due to the increased accessibility of the domestic market for international players and the provision of cost-effective solutions by the TIC service providers.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 China TIC: Service Outlook
4.1 China TIC Market Share by Service, 2021 & 2030
Chapter 5 China TIC: Sourcing Type Outlook
5.1 China TIC Market Share by Sourcing Type, 2021 & 2030
Chapter 6 China TIC: Application Outlook
6.1 China TIC Market Share by Application, 2021 & 2030
Chapter 7 Competitive Landscape
Companies Mentioned
- Asurequality Limited
- Bureau Veritas Sa
- Dekra Se
- Dnv Gl Group As
- Intertek Group plc
- Lloyd’S Register Group Limited
- Sgs S.A.
- Tuv Rheinland AG Group
- Underwriters Laboratories Inc.
- Asia Quality Focus
- Hqts Group Ltd
- Intouch Services Ltd.
- Beijing Veritell
- China Inspection Co. Ltd.
- Centre Testing International
- China Certification & Inspection Group (Ccic)
- Asia Quality Control
- V-Trust
- Tuv Sud
- Tuv Nord
- American Bureau of Shipping (Abs)
- Hartford Steam Boiler (Hsb)
- Larsen & Toubro
- Asia Inspection
- China Building Material Test & Certification Group Co. Ltd
- China Special Equipment Inspection and Research Institute (Csei)
- China Classification Society (Ccs)
For more information about this report visit https://www.researchandmarkets.com/r/tw4jd9