Worldwide TIC Market to Hit USD 300 Bn by 2030

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The transportation segment accounted for a 23% share of the testing, inspection and certification services market in 2021 and is anticipated to reach USD 70 billion by 2030. Testing, inspection, and certification activities in the transportation sector encompass various activities, such as regular inspection, testing, and maintenance of components and raw materials in cars, trains, containers, ships, aircraft, trucks, and other transportation models. Compliance activities are also critical for air quality benefits associated with emission regulations, which could amplify demand for TIC services.

Middle East and Africa TIC market is projected to register around 8% CAGR through 2030, on account of the various standards and regulations issued by regional regulatory authorities. These organizations implement defined parameters for the safety of consumer products. Additionally, the thriving oil & gas sector in the region has resulted in consistent extraction activities, which could boost demand for oil testing solutions to ensure product safety and quality.

Major companies operating in the TIC market are DEKRA, Apave International, SGS SA, Intertek Group PLC, Eurofins Scientific, and Bureau Veritas alongside DNV GLs, TUV Rheinland, Kiwa Group, TUV SUD, TUV Nord, and SYNLAB. These leaders are engaging in various strategic activities such as technological advancements to strengthen their market presence.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  TIC services industry 360⁰ synopsis, 2018 - 2030

2.2  Business trends

2.3  Regional trends

2.4  Type trends

2.5  Services trends

2.6  Application trends

Chapter 3 TIC Services Industry Insights

3.1  Introduction

3.2  COVID-19 impact

3.3  Impact of the Russia-Ukraine crisis on the TIC Services Market

3.4  TIC Services industry ecosystem analysis

3.5  TIC market evolution

3.6  Technology and innovation landscape

3.7  Regulatory landscape

3.8  Industry impact forces

3.8.1  Growth drivers

3.8.2  Industry pitfalls & challenges

3.9  Investment landscape

3.10  Growth potential analysis

3.11  Porter's analysis

3.12  PESTEL analysis

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