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Testing and Commissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Testing and Commissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • April 2021
  • 108 pages
  • ID: 5500158
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global testing and commissioning market reached a value of US$ 208.6 Billion in 2020. Testing and commissioning, or testing, inspection & certification (TIC), refer to a set of procedures, which are conducted to ensure that the services, infrastructure and products meet with the mandated regulations and standards in terms of quality and safety. These processes include on-site or laboratory testing, documentary checks, data consistency verification, management process audits, and inspections across the entire supply chain. Testing and commission can be carried out on behalf of either private or public authorities, or the purchaser or end user, independently of stakeholders, or at the request of the manufacturer. These procedures are required throughout the supply chain and are valid across all industries. In recent years, the globalization of trade has led to the emergence of complex supply chains impacting the product quality, which has created an increased requirement for improved testing and commissioning processes.

Over the past few years, integrated sensors, predictive maintenance and digital inspection have replaced physical or manual procedures. This has enabled market players to offer premium testing and commissioning services to end users with the adoption of digital processing improvements and Big Data to gather information from different sources. Besides, the implementation of new and revised regulations has led to a significant shift from a voluntary-based risk management approach to mandatory testing services. Moreover, the industry has been witnessing growth in developing economies, like China, on account of a rise in the number of acquisitions and mergers, coupled with deals including new tax, cultural and legislative regimes. For instance, in 2019, the France-based testing, inspection and certification services provider, Bureau Veritas acquired the China-based food testing and certification firm, Shenzhen Total-Test Technology. Looking forward, the analyst expects the global testing and commissioning market to exhibit moderate growth during the next five years.

Breakup by Service Type:
Testing
Certification
Commissioning
At present, testing is the most popular service type owing to the rising concerns about the overall quality of the product.

Breakup by Commissioning Type:
Initial Commissioning
Retro Commissioning
Monitor-Based Commissioning
Initial commissioning currently accounts for more than half of the market share, representing the largest segment.

Breakup by Sourcing Type:
Inhouse
Outsourced
Presently, inhouse is the most preferred sourcing type. However, outsourcing is also gaining traction among end users.

Breakup by End Use Sector:
Construction
Industrial
Consumer Products
Life Sciences
Oil and Gas
Food and Agriculture
Marine and Offshore
Transport and Aerospace
Energy and Power
Chemicals
Others
The construction sector currently represents the leading end user. The services are employed for ensuring that all systems and components of a construction project meet the operational requirements of the concerned authorities.

Breakup by Region:
Europe
Asia Pacific
North America
Middle East and Africa
Latin America
Presently, Europe represents the biggest market, accounting for the majority of the total market share. This can be attributed to the rising focus on the maintenance and monitoring of conductive production environment and supply chain to safeguard the quality and safety of the products manufactured in the region.

Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being SGS SA, Bureau Veritas SA, Intertek Group plc, DEKRA SE, and TUV SUD AG.

Key Questions Answered in This Report:
How has the global testing and commissioning market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on global testing and commissioning market?
Which are the popular service types?
What are the several commissioning types?
What are the leading sourcing types?
What are the major end use sectors?
What are the various stages in the value chain of the global testing and commissioning market?
What are the key driving factors and challenges in the global testing and commissioning market?
What is the structure of the global testing and commissioning market and who are the key players?
What is the degree of competition in the global testing and commissioning market?

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