DUBLIN--(BUSINESS WIRE)--The "China Testing, Inspection, and Certification (TIC) Market Analysis Report By Sourcing Type, By Service Type, By Application (Transportation, Healthcare, Consumer Goods & Retail), And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The China testing, inspection, and certification (TIC) market size is anticipated to reach USD 55.1 billion by 2025, registering a 9.1% CAGR during the forecast period.
High standards of living of Chinese citizens and increased focus of customers on quality and safety of food products and consumer goods such as toys, personal care and beauty products, and electrical and electronic appliances are driving the market.
The China TIC market is expected to register strong growth owing to government investments in the transportation, energy, and construction sectors. The Chinese government has introduced favorable policies for international players to establish their foothold in the country and to achieve progressive liberalization.
Previously, most companies in China conducted their testing, inspection, and certification operations in-house. However, with growing acceptance of the China Compulsory Certification (CCC), greater emphasis is placed on need for strict regulatory standards and certifications and this has led to increase in outsourcing TIC activities in China due to cost benefits. This growing trend of outsourcing is anticipated to further drive the market over the forecast period. Increased accessibility of the domestic market for international players and provision of cost-effective solutions by TIC service providers will also benefit the market.
Further key findings from the report suggest:
- The China TIC market is witnessing considerable growth owing to increasing number of investments from international incumbents
- By service, the inspection segment is expected to register the highest CAGR of 10.3% over the forecast period
- TIC forms an integral part of the infrastructure and transportation sectors in China and hence, the growth of these two sectors is expected to drive demand for testing inspection, and certification activities
- Key industry participants include AsureQuality Limited, Bureau Veritas SA, DEKRA SE, DNV GL Group AS, Intertek Group PLC, Lloyd's Register Group Limited, and SGS S.A.
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 China TIC Market - Industry Snapshot & Key Buying Criteria
Chapter 3 China TIC - Market Definitions
3.1 TIC Market Definition
3.1.1 Testing
3.1.2 Inspection
3.1.3 Certification
Chapter 4 Market Variables, Trends, and Scope
4.1 China TIC Market Segmentation
4.2 China TIC Market - Value Chain Analysis
4.3 China TIC Market Variable Analysis
4.3.1 Market driver analysis
4.3.1.1 Growing opportunities for international players in domestic TIC outsourcing market
4.3.1.2 Stringent implementation of testing, inspection, and certification regulations
4.3.1.3 Surging capital investments in infrastructure, transport, and energy production sectors
4.3.2 Market challenge analysis
4.3.2.1 Differences in acceptance of Chinese and other International Standards
4.3.2.2 Challenges posed by local players for MNCs
4.3.3 Market opportunity analysis
4.3.3.1 Development and adoption of smart technologies and green transportation
4.4 China Business Environment Analysis Tools
4.4.1 Penetration & growth prospect mapping, 2025
4.4.2 Industry analysis - Porter's five force analysis
4.4.3 China TIC market-PEST analysis
4.5 Competitor Analysis & Vendor Landscape - China
4.5.1 List of Key Participants, 2017 (International and Local)
4.5.1.1 International players
4.5.1.2 Local and national players
4.5.1.3 Other noTable players
4.6 Key Regulations for China TIC market
4.6.1 China Compulsory Certification (CCC) mark
4.6.2 Sector-wise list of regulations of China TIC market
4.6.3 ISO standards in China
4.6.4 International accreditation bodies in China
4.6.5 Chinese ISO certification bodies with international accreditation
Chapter 5 China TIC Market: Service Estimates and Trend Analysis
5.1 China TIC Market: Service Movement Analysis
5.1.1 China TIC market by services
Chapter 6 China TIC Market: Sourcing Type Estimates and Trend Analysis
6.1 China TIC Market: Sourcing Type Movement Analysis
6.1.1 China TIC market by Sourcing Type
Chapter 7 China TIC Market: Application Estimates and Trend Analysis
7.1 China TIC Market: Application Movement Analysis
7.1.1 China TIC market by application
Chapter 8 Competitive Landscape
- 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/research/zdv256/china_testing?w=4
