A comprehensive industry overview and market perspective are included in the latest study from MarkNtel Advisors titled Europe Testing, Inspection and Certification Market. The research provides a detailed overview of the current market state, including market trends and the most recent advancements made globally. In-depth analysis of market size, share, industry trends, forecast, and competitive environment is covered in the report that presents clear picture of the market with relevant statistical data.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Europe Testing, Inspection and Certification Market Definition:
Testing, Inspection, and Certification (TIC) refers to the sector that provides third-party inspection of services, products, and processes across Europe. The TIC companies offer an unbiased evaluation of products or services to industries such as automotive, construction, energy, etc., to make sure that they comply with the regulations, standards, and benchmarks of government entities & other international organizations.
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Europe Testing, Inspection and Certification Market Insights:
The Europe Testing, Inspection & Certification market is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2023-28.
Europe Testing, Inspection and Certification Market Driver:
Key Driver: High Product Recalls to Augment the Market Expansion - The product recall activities across major markets, like automotive, pharmaceutical, etc., have enriched during 2018-22. As per Sedgwick’s European State of the Nation Recall Index report 2023, around 10,545 product recalls in 2022, a 4.3% increase over 2021. Owing to this, companies across various sectors, such as consumer products, electronics, and several others, highly relied on TIC services for validating product quality & making sure that they comply with regulatory standards, thereby avoiding recalls.
Furthermore, among various markets, toys, clothing, and electronics witnessed comparatively large recalls than others. As per industry experts, the recalls in the electronics sector are mainly due to surging technological innovation, because of which unforeseen issues are coming up in electronic products, owing to which the demand for these testing services is prevailing & would continue to expand in the following years, thus enhancing the Europe Testing, Inspection & Certification Market size.
Europe Testing, Inspection and Certification Market Leading Key Players:
SGS Group, Bureau Veritas, Intertek, Dekra, Eurofins Scientific, TUV SUD, DNV GL, TUV Rheinland, Applus+, TUV Nord, Others
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Europe Testing, Inspection and Certification Market Segmentation:
Based on Service Type
- Testing Services- Market Size & Forecast 2018-2028, USD Million
- Inspection Services- Market Size & Forecast 2018-2028, USD Million
- Certification Services- Market Size & Forecast 2018-2028, USD Million
Based on Sourcing Type
- In-House Sourcing- Market Size & Forecast 2018-2028, USD Million
- Outsourced Sourcing- Market Size & Forecast 2018-2028, USD Million
Based on End User
- Consumer Good and Retail - Market Size & Forecast 2018-2028, USD Million
- Automotive - Market Size & Forecast 2018-2028, USD Million
- Food and Agriculture - Market Size & Forecast 2018-2028, USD Million
- Industrial & Manufacturing - Market Size & Forecast 2018-2028, USD Million
- Energy and Power - Market Size & Forecast 2018-2028, USD Million
- Chemicals - Market Size & Forecast 2018-2028, USD Million
- Construction - Market Size & Forecast 2018-2028, USD Million
- Aerospace- Market Size & Forecast 2018-2028, USD Million
- Oil & Gas - Market Size & Forecast 2018-2028, USD Million
- Healthcare - Market Size & Forecast 2018-2028, USD Million
- Marine- Market Size & Forecast 2018-2028, USD Million
- Mining- Market Size & Forecast 2018-2028, USD Million
- IT & Telecom- Market Size & Forecast 2018-2028, USD Million
- Others (Railways, Supply Chain & Logistics, Sports & Entertainment, etc.) -Market Size & Forecast 2018-2028, USD Million
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Europe Testing, Inspection and Certification Market Geographical Analysis
By Region
- The UK
- Germany
- France
- Spain
- Italy
- Rest of the Europe
Recent Development of Europe Testing, Inspection and Certification Market:
2022: Bureau Veritas acquired AMSfashion, a sustainability & quality expert in the fashion industry. The acquisition aims at strengthening company’s presence in the Iberian region, a strategic hub for expanding its Consumer Products Services business & supporting the growing demand for nearshoring from South Europe & Africa.
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