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Europe TIC Market Size (2024 - 2029)

The Europe TIC market is projected to experience significant growth, driven by the increasing demand for enhanced testing, inspection, and certification services to ensure compliance with safety and quality standards. This growth is fueled by factors such as the rising volume of imports and exports, particularly in sectors like food and beverages, consumer electronics, agriculture, and automotive markets. Additionally, advancements in technology and infrastructure investments are contributing to the expansion of the market. However, the market's growth may face challenges due to the time-consuming nature of third-party verification processes, which can impede product import and export efficiency.

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Market Size of Europe TIC Industry

Europe TIC Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 63.29 Billion
Market Size (2029) USD 85.09 Billion
CAGR (2024 - 2029) 6.10 %
Market Concentration Low

Major Players

Europe TIC Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe TIC Market Analysis

The Europe TIC Market size is estimated at USD 63.29 billion in 2024, and is expected to reach USD 85.09 billion by 2029, growing at a CAGR of 6.10% during the forecast period (2024-2029).

The continuous improvement in industry practice toward achieving superior quality control and workplace safety continues to drive the demand for improved and efficient testing, inspection, and certification-based requirements.

  • Testing, inspection, and certification (TIC) play a significant role, primarily in ensuring that the infrastructure, services, and products meet the standards and regulations of safety and quality. Due to the increased demand for inspection and testing at regular intervals across a few enterprises, such as oil and gas, the TIC market is expected to grow, irrespective of the industrial seasonality. For instance, in March 2023, Rakuten Symphony, in collaboration with its parent Rakuten Mobile, officially established its Open RAN Customer Experience Centre, a test lab in Weybridge, with several retailer partners installed in its on-site, cloud-based radio access network installation.
  • Furthermore, the boost in the volume of imports and exports in Europe, especially for products in the food and beverages, consumer electronics, agriculture, and automotive (EV) markets, is anticipated to provide more scope for TIC services in the region. For instance, as per Eurostat, EU imports of goods increased by 41.3 % in 2022 compared with the previous year, while exports rose by 17.9% in 2022.
  • The advancement in demand for safety and infrastructure investments in the region is expanding the growth of the studied market. Furthermore, the use of complex technologies, shorter product lifecycles, and the complexity of supply chains in many end-user industries are driving the growth of the studied market. For instance, in June 2022, the EU invested EUR 5.4 billion in sustainable, safe, and efficient transport infrastructure.
  • In addition, the European Commission selected 135 transport infrastructure projects for EU grants from 399 project proposals submitted under the CEF, the EU's funding instrument for strategic investment in transport infrastructure. Further, the European Commission is speeding up the financing of 35 military mobility projects to support transporting troops and equipment along the trans-European transport network (TEN-T).
  • Rapid technological advancements, which have led to product diversity and, in some cases, shorter life cycles, are expected to increase the usage of TIC services. Emerging technological trends, like connected devices (IoT), mobile payments, smart cities, and connected cars, drive the importance of software testing and inspection on par with hardware testing and inspection. As these technologies become mainstream, the dependency on TIC services is expected to increase.
  • Moreover, Certain products require third-party verification for testing, inspection, and certification services, which results in a time-consuming process. The occurrence of time-consuming procedures for providing TIC to specific products impedes product export and import. Most businesses are concerned about this because time-consuming qualification testing causes delays in importing goods, further impeding productivity. As a result of this critical challenge, the TIC market's growth will be slowed.

Europe TIC Industry Segmentation

The testing, inspection, and certification industry consists of conformity assessment bodies that offer services ranging from auditing and inspection to testing, verification, quality assurance, and certification.

The Europe Testing, Inspection, and Certification market is segmented by sourcing type (outsourced and In-house/government), by end-user vertical (consumer goods and retail, automotive, food and agriculture, manufacturing, heavy equipment and machinery, energy and utilities, oil and gas and chemicals, construction, transport, aerospace, and rail, life sciences, and marine and mining), and by country (Germany, France, Italy, United Kingdom, and the Rest of Europe). The report offers the market size in value terms in USD for all the abovementioned segments.

By Sourcing Type
Outsourced
Type of Service
Testing and Inspection
Certification
In-house/Government
By End User Vertical
Consumer Good and Retail
Automotive
Food and Agriculture
Manufacturing and Industrial Goods
Energy and Utilities
Oil & Gas and Chemicals
Construction
Transport, Aerospace, and Rail
Life Sciences
Marine & Mining
Other End User Verticals
By Country
Germany
France
Italy
United Kingdom
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Europe TIC Market Size Summary

The European Testing, Inspection, and Certification (TIC) market is poised for significant growth, driven by the increasing demand for quality control and safety standards across various industries. The market's expansion is fueled by the need for rigorous testing and inspection processes, particularly in sectors such as oil and gas, automotive, and consumer electronics. The rise in imports and exports, especially in food and beverages, consumer electronics, agriculture, and the automotive sector, further amplifies the demand for TIC services. The adoption of complex technologies and the necessity for compliance with stringent regulations are also contributing to the market's growth trajectory. Additionally, the European Commission's investments in transport infrastructure and military mobility projects underscore the region's commitment to enhancing safety and efficiency, thereby bolstering the TIC market.

The market landscape is characterized by the presence of major players like SGS SA, T√úV S√úD Limited, Applus Services SA, Bureau Veritas SA, and Intertek Group PLC, who are actively engaging in strategic partnerships and acquisitions to strengthen their market position. The growing emphasis on quality security and compliance solutions, particularly in the retail and consumer goods sectors, is expected to drive the adoption of TIC services. The increasing production of consumer goods and the rise of online retail platforms further highlight the market's potential. Moreover, the demand for TIC services is anticipated to rise with the growing automotive production, particularly in Germany, where trends like electric vehicles and autonomous cars are gaining momentum. The market's growth is also supported by the need for third-party verification and certification services, which, despite being time-consuming, are essential for ensuring product safety and compliance with regulatory standards.

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Europe TIC Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Intensity of Competitive Rivalry

      5. 1.2.5 Threat of Substitutes

    3. 1.3 Market Drivers

      1. 1.3.1 Increasing Trading Across Borders and Stringent Regulations

      2. 1.3.2 Technological Evolution

      3. 1.3.3 Mass Customization and Shorter Product Life Cycles

    4. 1.4 Market Challenges

      1. 1.4.1 Increase in Lead Times for Assessment Programs Due to the Growing Complexity of the Supply Chain

      2. 1.4.2 Issue of Certification Post-Brexit

    5. 1.5 Major TIC Standards and Regulations

    6. 1.6 Impact of Macroeconomic Trends on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Sourcing Type

      1. 2.1.1 Outsourced

        1. 2.1.1.1 Type of Service

          1. 2.1.1.1.1 Testing and Inspection

          2. 2.1.1.1.2 Certification

      2. 2.1.2 In-house/Government

    2. 2.2 By End User Vertical

      1. 2.2.1 Consumer Good and Retail

      2. 2.2.2 Automotive

      3. 2.2.3 Food and Agriculture

      4. 2.2.4 Manufacturing and Industrial Goods

      5. 2.2.5 Energy and Utilities

      6. 2.2.6 Oil & Gas and Chemicals

      7. 2.2.7 Construction

      8. 2.2.8 Transport, Aerospace, and Rail

      9. 2.2.9 Life Sciences

      10. 2.2.10 Marine & Mining

      11. 2.2.11 Other End User Verticals

    3. 2.3 By Country

      1. 2.3.1 Germany

      2. 2.3.2 France

      3. 2.3.3 Italy

      4. 2.3.4 United Kingdom

Europe TIC Market Size FAQs

The Europe TIC Market size is expected to reach USD 63.29 billion in 2024 and grow at a CAGR of 6.10% to reach USD 85.09 billion by 2029.

In 2024, the Europe TIC Market size is expected to reach USD 63.29 billion.

Europe TIC Market Report Snapshots

Europe TIC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)