Asia-Pacific Testing, Inspection, and Certification (TIC) Market for Building & Construction, By Service Type (Testing, Inspection and Certification), Sourcing Type (In-House, and Outsourced), Testing Type (Structural Testing, Engineering Support, Fire Safety Testing, Indoor Environment Testing, Heat Pump Testing, Acoustics Testing and Wind Load Testing), Application (Infrastructural, Commercial Buildings and Residential Buildings), Country (China, India, South Korea, Japan, Australia & New Zealand, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Testing, Inspection, and Certification (TIC) Market for Building and Construction
Asia-Pacific testing, inspection, and certification (TIC) market for building & construction is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 5.9% in the forecast period of 2021 to 2028 and expected to reach USD 9,229.52 million by 2028.
Testing, Inspection, and Certification (TIC) consists of conformity assessment bodies, which provide various services, such as auditing and inspection, testing, verification, quality assurance, and certification. In the building and construction sector, different multiple types of TIC services including acoustics testing, engineering support, fire safety testing, heat pump testing, indoor environment testing, structural testing, and wind load testing, are used. They help in providing durability to the products.
The demand for the testing, inspection, and certification (TIC) for building & construction is increasing as there is growing demand of for structural safety in the building & construction industry. Several builder and contractors prefer TIC as it helps to ensure timely completion of construction projects. Constant variation in the prices of testing methods can be restraint to the market. Emergence of green & sustainable construction can be an opportunity for TIC service providers in the market. But lack of testing facilities and skilled resources can be the challenge in the market.
This testing, inspection, and certification (TIC) market for building & construction report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Testing, Inspection, and Certification (TIC) Market for Building & Construction Scope and Market Size
Asia-Pacific testing, inspection, and certification (TIC) market for building & construction is segmented of the categorized into service type, sourcing type, testing type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of service type, the Asia-Pacific testing, inspection, and certification (TIC) market is segmented into testing, inspection, and certification. In 2021, testing segment is expected to dominate the market because of its ability to maintain safety measurements, which can maintain the efficiency of the products.
- On the basis of sourcing type, the Asia-Pacific testing, inspection, and certification (TIC) market is segmented into in-house and outsourced. In 2021, the In-House segment is expected to dominate the market because of the increasing interest of local TIC services.
- On the basis of testing type, Asia-Pacific Testing, Inspection, and Certification (TIC) Market for Building & Construction is segmented into acoustics testing, engineering support, fire safety testing, heat pump testing, indoor environment testing, structural testing, and wind load testing. In 2021, structural testing segment is dominating because maximum countries are prone to high intensity earthquakes, hence, the demand for structural testing is increasing in the region.
- On the basis of application, Asia-Pacific Testing, Inspection, and Certification (TIC) Market for Building & Construction is segmented into residential buildings, commercial buildings, and infrastructural. In 2021, infrastructural segment is dominating because of exponential growth in infrastructural work.
Asia-Pacific Testing, Inspection, and Certification (TIC) Market for Building & Construction Country Level Analysis
Asia-Pacific testing, inspection, and certification (TIC) market for Building & Construction is analysed and market size information is provided by country, service type, sourcing type, testing type and application.
The countries covered in Asia-Pacific testing, inspection, and certification (TIC) market for building & construction report are China, India, South Korea, Japan, Australia & New Zealand, Malaysia, Singapore, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific.
- In the Asia-Pacific region, China is dominate due to huge growth of construction industry.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
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Testing, inspection, and certification (TIC) market for building & construction also provides you with detailed market analysis for every country growth in installed base of different kind of products for testing, inspection, and certification (TIC) market for building & construction, impact of technology using life line curves and changes in requirement of products, regulatory scenarios and their impact on the testing, inspection, and certification (TIC) market for building & construction. The data is available for historic period 2010 to 2019.
Competitive Landscape and Testing, Inspection, and Certification (TIC) Market for Building & Construction Share Analysis
Asia-Pacific testing, inspection, and certification (TIC) market for building & construction competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific Testing, Inspection, and Certification (TIC) Market for building & construction.
The major market players engaged in the Asia-Pacific testing, inspection, and certification (TIC) market for building & construction are ALS Limited, UL LLC, BUREAU VERITAS, SGS SA, ANTYIPOUR2007 LLC, Element Materials Technology, Intertek Group plc, DEKRA e.V.
For instance,
- In May 2021, UL LLC had partnership with Australia’s National Science Agency. The company decided to apply an advance fire safety in construction industry. With this decision company will more strong and attract the more customer data base.
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