The fire testing market is growing, owing to an increase in demand for TIC services for applications such as automotive, construction and infrastructure, consumer goods, agriculture and food, transportation, and medical and life sciences.
Testing services market to hold the largest market share in 2019
The fire testing market has been segmented into services and sourcing type. Based on service, the fire testing market has been segmented into testing, inspection, and certification. The major objective of fire testing services is to determine whether fire protection products meet minimum performance criteria as set out as per the legislation. Laboratory scale fire testing can help determine the fire performance of a product, thereby assisting manufacturers design products that are fire-resistant and have a lower spread of flame characteristic, hence the demand for testing services for fire testing has increased significantly.
In-house sourcing held largest share in fire testing market during the forecast period
Majority of the fire testing, inspection, and certification are conducted in-house. This process is particularly evident in applications such as life sciences, utilities, and public sectors. Several companies have their own in-house capabilities, including full-service laboratories offering fire testing services for different sectors such as consumer goods and retail, building and construction, IT and telecom, agriculture and food, chemicals, energy & power, industrial and manufacturing, and medical and life sciences. The in-house fire testing market is expected to have a significant share as the majority of the companies have their own in-house testing facilities. In terms of technology, test and measurement equipment, and skilled personnel.
APAC is largest and fastest-growing market during the forecast period
The growth in APAC for the fire testing market is increasing due to rapid industrialization and urbanization in countries such as China, India, and Japan. Also, this region is one of the biggest exporters of goods, products, and services. The population in this region is also enormous, and the number keeps on increasing at a steady rate. To sustain this, the manufacturing sector has to keep up with its growing demand for products and services. Thus, the growing demand for products and services will help to boost fire testing services in this region.
The fire testing market is expected to grow at a CAGR of 6.4% during the forecast period to reach USD 8.6 billion by 2024 from USD 5.9 billion in 2018.
Key Topics Covered:
- Executive Summary
- Premium Insights
- Market Overview
- Fire Testing Market, By Service
- Fire Testing Market, By Sourcing Type
- Fire Testing Market, By Application
- Geographic Analysis
- Competitive Landscape
- Company Profile
- BRE Group
- Bureau Veritas SA
- DEKRA SE
- DNV GL
- Element Materials Technology
- F.E. Moran Fire Protection
- Fireflow Services, Inc
- Geyer Fire
- Impact Fire Services
- International Fire Consultants Group
- J. Meadows Fire & Sprinkler
- Mistras Group, Inc
- Premier Technical Service Group PLC (PTSG)
- SGS Group
- STC Group
- TUV Rheinland
- TUV SUD
- UL LLC
- United Technologies
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