China Testing, Inspection, And Certification Industry Overview
The China testing, inspection, and certification market size is anticipated to reach USD 69.75 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2022 to 2030. An increase in outsourcing of testing, inspection, and certification services by prominent companies operating in the manufacturing, automotive, and consumer goods application areas is projected to boost the growth.
The high standard of living of Chinese citizens and increased focus of customers on the quality and safety of food products and consumer goods such as toys, beauty & personal care products, and electrical & electronic appliances are driving the growth of the China testing, inspection, and certification (TIC) market.
China Testing, Inspection, And Certification Market Segmentation
Grand View Research has segmented the China testing, inspection, and certification market based on service, sourcing type, and application:
Based on the Service Insights, the market is segmented into Testing, Inspection and Certification.
- The testing segment held the largest revenue share of around 73.7% in 2021. Based on services, the market has been segmented into testing, inspection, and certification.
- The inspection services segment is expected to register the highest CAGR exceeding 9% over the forecast period, due to the increasing number of construction and infrastructure development projects.
Based on the Sourcing Insights, the market is segmented into In-house and Outsourced.
- The in-house sourcing segment held the largest market share of around 63.9% in 2021.
- The outsourced segment is expected to register a high CAGR over the forecast period. This is due to the rise of third-party inspection regulation internationally and the stringent application of CCC certification in China.
Based on the Application Insights, the market is segmented into Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Energy & Power, Manufacturing, Healthcare, Mining, Oil & Gas and Petroleum, Public Sector, Transportation, Supply Chain & Logistics and Others.
- The transportation application segment held the largest market share of around 12.4% in 2021.
- The growth of self-driving vehicles, electric vehicles, and hybrid vehicles is expected to drive the growth of the TIC market in major Chinese cities such as Guangzhou and Shanghai.
- The growth of the e-commerce market in China is expected to drive the demand for the consumer goods & retail segment.
Key Companies Profile & Market Share Insights
The market players in China are entering into mergers and collaborations for expanding and exploring growth opportunities in the market.
Some prominent players in the China Testing, Inspection, And Certification market include
- 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.
- China Inspection Co., Ltd.
- Centre Testing International
- China Certification & Inspection Group
- Asia Quality Control
- V-Trust
- TUV SUD
- TUV Nord
- American Bureau of Shipping
- Hartford Steam Boiler
- Larsen & Toubro
- Asia Inspection
- China Building Material Test & Certification Group Co. Ltd.
- China Special Equipment Inspection and Research Institute
- China Classification Society
Order a free sample PDF of the China Testing, Inspection, And Certification Market Intelligence Study, published by Grand View Research.
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