China’s Testing, Inspection and Certification (TIC) Market Size and Forecasts with Impact Analysis of COVID-19 (2020-2024) – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “China Testing, Inspection and Certification (TIC) Market: Size and Forecasts with Impact Analysis of COVID-19 (2020-2024)” report has been added to ResearchAndMarkets.com’s offering.

This report provides analysis of the China Testing, Inspection and Certification (TIC) market in terms of value, segments (by application and by services) and volume. This is followed by a qualitative analysis of impact of COVID-19 on the TIC market.

The report also assesses the key opportunities in the market and outlines the factors that are and would be driving the growth of the industry. Growth of the overall China TIC market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The TIC market can be split on the basis of services and application. On the basis of services, the market is trifurcated into testing, inspection and certification. On the basis of application, the market can be divided into construction engineering and construction materials, environmental protection and monitoring, vehicle inspections, food and packaging, electronic products, special equipment, machinery and auto, quarantine, metrology and others.

The China Testing, Inspection and Certification Market is forecasted to grow at a healthy rate over the forecast period (2020-2024). The various growth drivers that have supported the growth of the market are a spike in disposable income, a rising middle class population, growth in the construction sector and liberalization which has allowed foreign companies to operate in China. Production of forged certificates and uncertainty linked to China’s macro conditions and the country’s TIC market regulations are some risk factors for the industry. The outsourcing of TIC operations, strategic investments by domestic players in areas like aerospace, semiconductor, rail etc. and the development of green transportation solutions are some of the latest trends existing in the market.

COVID-19 would have a varying impact on different TIC applications in China. Food testing would be the least affected by the pandemic and TIC demand for medical devices and protective-wear is likely to remain robust. For construction testing, demand is estimated to recover quickly as China’s major construction projects are expected to restart. Consumer and trade services are likely to be worst affected.

Key Topics Covered:

1. Executive Summary

2. Introduction

2.1 Testing, Inspection and Certification (TIC): An Overview

2.2 Advantages of Testing, Inspection and Certification (TIC)

2.3 Working of TIC

2.4 China TIC Market Overview

2.5 Guobiao Standard: Overview

2.6 China Compulsory Certification: Overview

2.7 SELO Certification: Overview

3. China Market Analysis

3.1 China Testing Inspection and Certification Market Analysis

3.1.1 China Testing Inspection and Certification Market by Value

3.1.2 China Testing Inspection and Certification Market by Application

3.1.3 China Testing Inspection and Certification Market by Services (Testing, Inspection and Certfication)

3.1.4 China Inspection Services Market by Value

3.1.5 China Testing and Certification Services Market by Value

3.1.6 China TIC Market by Number of Service Providers

3.1.7 China Testing, Inspection and Certification Market by Type of Company

4. Impact of Covid-19

4.1 Impact on TIC Market

4.1.1 Least and Worst Affected Industries

4.1.2 Demand of TIC for Medical Products

4.1.3 Demand of TIC for Quality Check of 5G Network

4.1.4 Demand for TIC in Green Buildings

5.Market Dynamics

5.1 Growth Drivers

5.1.1 Spike in Disposable Income

5.1.2 Rising Middle Class Population

5.1.3 Growth in Construction Sector

5.1.4 Liberalization

5.1.5 Solid Crop Production Activity

5.2 Challenges

5.2.1 Production of Forged Certificates

5.2.2 Other Risk Factors

5.3 Market Trends

5.3.1 Outsourcing TIC operations

5.3.2 Strategic Investment

5.3.3 Development of Green Transportation Solutions

6. Competitive Landscape

6.1 China Testing Inspection and Certification Market Players Analysis

6.1.1 China TIC Market Players by Share

6.1.2 China TIC Market: Domestic Peers Comparison

7. Company Profiles

7.1 SGS S.A.

7.2 Centre Testing International Group

7.3 Bureau Veritas

7.4 Intertek Group Plc

For more information about this report visit https://www.researchandmarkets.com/r/z4ra5t

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