China Testing, Inspection, and Certification (TIC) Market Analysis Report By Sourcing Type, By Service Type, By Application (Transportation, Healthcare, Consumer Goods & Retail), And Segment Forecasts, 2018 - 2025

Published: Sep, 2018 | Pages: 100 | Publisher: Grand View Research
Industry: Technology & Media | Report Format: Electronic (PDF)

The China testing, inspection, and certification (TIC) market size is anticipated to reach USD 55.1 billion by 2025, according to a new report by Grand View Research, registering a 9.1% CAGR during the forecast period.

High standards of living of Chinese citizens and increased focus of customers on quality and safety of food products and consumer goods such as toys, personal care and beauty products, and electrical and electronic appliances are driving the market.

The China TIC market is expected to register strong growth owing to government investments in the transportation, energy, and construction sectors. The Chinese government has introduced favorable policies for international players to establish their foothold in the country and to achieve progressive liberalization.

Previously, most companies in China conducted their testing, inspection, and certification operations in-house. However, with growing acceptance of the China Compulsory Certification (CCC), greater emphasis is placed on need for strict regulatory standards and certifications and this has led to increase in outsourcing TIC activities in China due to cost benefits. This growing trend of outsourcing is anticipated to further drive the market over the forecast period. Increased accessibility of the domestic market for international players and provision of cost-effective solutions by TIC service providers will also benefit the market.

Leading industry participants include AsureQuality Limited, Bureau Veritas SA, DEKRA SE, DNV GL Group AS, Intertek Group PLC, Lloyd's Register Group Limited, and SGS S.A. Other notable players in the market include 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; and China Classification Society.

Further key findings from the report suggest:

• The China TIC market is witnessing considerable growth owing to increasing number of investments from international incumbents

• By service, the inspection segment is expected to register the highest CAGR of 10.3% over the forecast period

• TIC forms an integral part of the infrastructure and transportation sectors in China and hence, the growth of these two sectors is expected to drive demand for testing inspection, and certification activities

• Key industry participants include AsureQuality Limited, Bureau Veritas SA, DEKRA SE, DNV GL Group AS, Intertek Group PLC, Lloyd's Register Group Limited, and SGS S.A.

 Table of Contents

Chapter 1 Methodology and Scope
                  1.1 Research Methodology
                  1.2 Research Scope & Assumptions
                  1.3 List of Data Sources

Chapter 2 Executive Summary
                  2.1 China TIC Market - Industry Snapshot & Key Buying Criteria

Chapter 3 China TIC - Market Definitions
                  3.1 TIC Market Definition
                      3.1.1 Testing
                      3.1.2 Inspection
                      3.1.3 Certification

Chapter 4 Market Variables, Trends, and Scope
                  4.1 China TIC Market Segmentation
                  4.2 China TIC Market - Value Chain Analysis
                  4.3 China TIC Market Variable Analysis
                      4.3.1 Market driver analysis
                          4.3.1.1 Growing opportunities for international players in domestic TIC outsourcing market
                          4.3.1.2 Stringent implementation of testing, inspection, and certification regulations
                          4.3.1.3 Surging capital investments in infrastructure, transport, and energy production sectors
                      4.3.2 Market challenge analysis
                          4.3.2.1 Differences in acceptance of Chinese and other International Standards
                          4.3.2.2 Challenges posed by local players for MNCs
                      4.3.3 Market opportunity analysis
                          4.3.3.1 Development and adoption of smart technologies and green transportation 
                  4.4 China Business Environment Analysis Tools
                      4.4.1 Penetration & growth prospect mapping, 2025
                      4.4.2 Industry analysis - Porter's five force analysis
                      4.4.3 China TIC market-PEST analysis
                  4.5 Competitor Analysis & Vendor Landscape - China
                      4.5.1 List of Key Participants, 2017 (International and Local)
                          4.5.1.1 International players
                          4.5.1.2 Local and national players
                          4.5.1.3 Other notable players
                  4.6 Key Regulations for China TIC market
                      4.6.1 China Compulsory Certification (CCC) mark
                      4.6.2 Sector-wise list of regulations of China TIC market
                      4.6.3 ISO standards in China
                      4.6.4 International accreditation bodies in China
                      4.6.5 Chinese ISO certification bodies with international accreditation

Chapter 5 China TIC Market: Service Estimates and Trend Analysis
                  5.1 China TIC Market: Service Movement Analysis
                      5.1.1 China TIC market by services

Chapter 6 China TIC Market: Sourcing Type Estimates and Trend Analysis
                  6.1 China TIC Market: Sourcing Type Movement Analysis
                      6.1.1 China TIC market by Sourcing Type

Chapter 7 China TIC Market: Application Estimates and Trend Analysis
                  7.1 China TIC Market: Application Movement Analysis
                      7.1.1 China TIC market by application

Chapter 8 Competitive Landscape
                  8.1 AsureQuality Limited
                      8.1.1 Company overview
                      8.1.2 Financial performance
                      8.1.3 Product benchmarking
                  8.2 Bureau Veritas SA
                      8.2.1 Company overview
                      8.2.2 Financial performance
                      8.2.3 Product benchmarking
                      8.2.4 Recent developments
                  8.3 DEKRA SE
                      8.3.1 Company overview
                      8.3.2 Financial performance
                      8.3.3 Product benchmarking
                      8.3.4 Recent developments
                  8.4 DNV GL Group AS
                      8.4.1 Company overview
                      8.4.2 Financial performance
                      8.4.3 Product benchmarking
                      8.4.4 Recent developments
                  8.5 Intertek Group PLC
                      8.5.1 Company overview
                      8.5.2 Financial performance
                      8.5.3 Product benchmarking
                      8.5.4 Recent developments
                  8.6 Lloyd's Register Group Limited
                      8.6.1 Company overview
                      8.6.2 Financial performance
                      8.6.3 Product benchmarking
                      8.6.4 Recent developments
                  8.7 SGS S.A.
                      8.7.1 Company overview
                      8.7.2 Financial performance
                      8.7.3 Product benchmarking
                      8.7.4 Recent developments
                  8.8 TUV Rheinland AG Group
                      8.8.1 Company overview
                      8.8.2 Financial performance
                      8.8.3 Product benchmarking
                      8.8.4 Recent developments
                  8.9 Underwriters Laboratories Inc.
                      8.9.1 Company overview
                      8.9.2 Product benchmarking
                      8.9.3 Recent developments
                  8.10 Asia Quality Focus
                      8.10.1 Company overview
                      8.10.2 Product benchmarking
                  8.11 HQTS Group Ltd.
                      8.11.1 Company overview
                      8.11.2 Product benchmarking
                  8.12 InTouch Services Ltd.
                      8.12.1 Company overview
                      8.12.2 Product benchmarking
                  8.13 Beijing Veritell
                      8.13.1 Company overview
                      8.13.2 Product benchmarking
                  8.14 China Inspection Co., Ltd.
                      8.14.1 Company overview
                      8.14.2 Product benchmarking
                  8.15 Centre Testing International
                      8.15.1 Company overview
                      8.15.2 Financial performance
                      8.15.3 Product benchmarking
                  8.16 China Certification & Inspection Group (CCIC)
                      8.16.1 Company overview
                      8.16.2 Product benchmarking
                  8.17 Asia Quality Control
                      8.17.1 Company overview
                      8.17.2 Product benchmarking
                  8.18 V-Trust
                      8.18.1 Company overview
                      8.18.2 Product benchmarking
                  8.19 TUV SUD
                      8.19.1 Company overview
                      8.19.2 Financial performance
                      8.19.3 Product benchmarking
                  8.20 TUV Nord
                      8.20.1 Company overview
                      8.20.2 Financial performance
                      8.20.3 Product benchmarking
                  8.21 American Bureau of Shipping (ABS)
                      8.21.1 Company overview
                      8.21.2 Product benchmarking
                      8.21.3 Recent developments
                  8.22 Hartford Steam Boiler (HSB)
                      8.22.1 Company overview
                      8.22.2 Product benchmarking
                  8.23 Larsen & Toubro
                      8.23.1 Company overview
                      8.23.2 Financial performance
                      8.23.3 Product benchmarking
                  8.24 Asia Inspection
                      8.24.1 Company overview
                      8.24.2 Product benchmarking
                  8.25 China Building Material Test & Certification Group Co. Ltd.
                      8.25.1 Company overview
                      8.25.2 Financial Performance
                      8.25.3 Product benchmarking
                  8.26 China Special Equipment Inspection and Research Institute (CSEI)
                      8.26.1 Overview
                      8.26.2 Product benchmarking
                  8.27 China Classification Society (CCS)
                      8.27.1 Overview
                      8.27.2 Product benchmarking

List of Tables

TABLE 1 China TIC Market - Industry snapshot & critical success factor
TABLE 2 China TIC market by service, 2014 - 2025 (USD Billion)
TABLE 3 China TIC market by sourcing type, 2014 - 2025 (USD Billion)
TABLE 4 China TIC market by application, 2014 - 2025 (USD Billion)
TABLE 5 China TIC consumer goods & retail market, 2014 - 2025 (USD Million)
TABLE 6 China TIC consumer goods & retail market, by application, 2014 - 2025 (USD Million)
TABLE 7 China TIC agriculture & food market, 2014 - 2025 (USD Million)
TABLE 8 China TIC agriculture & food market, by application, 2014 - 2025 (USD Million)
TABLE 9 China TIC agriculture & food market, by beverages 2014 - 2025 (USD Million)
TABLE 10 China TIC alcoholic beverages market, by type, 2014 - 2025 (USD Million)
TABLE 11 China TIC non-alcoholic beverages market, by type, 2014 - 2025 (USD Million)
TABLE 12 China TIC chemicals market, 2014 - 2025 (USD Million)
TABLE 13 China TIC chemicals market, by application, 2014 - 2025 (USD Million)
TABLE 14 China TIC infrastructure market, 2014 - 2025 (USD Million)
TABLE 15 China TIC infrastructure market, by application, 2014 - 2025 (USD Million)
TABLE 16 China TIC energy & power market, 2014 - 2025 (USD Million)
TABLE 17 China TIC energy & power market, by type, 2014 - 2025 (USD Million)
TABLE 18 China TIC energy & power market, by energy sources 2014 - 2025 (USD Million)
TABLE 19 China TIC manufacturing market, 2014 - 2025 (USD Million)
TABLE 20 China TIC manufacturing market, by type, 2014 - 2025 (USD Million)
TABLE 21 China TIC healthcare market, 2014 - 2025 (USD Million)
TABLE 22 China TIC healthcare market, by type, 2014 - 2025 (USD Million)
TABLE 23 China TIC mining market, 2014 - 2025 (USD Million)
TABLE 24 China TIC mining market, by type, 2014 - 2025 (USD Million)
TABLE 25 China TIC oil, gas & petroleum market, 2014 - 2025 (USD Million)
TABLE 26 China TIC oil, gas & petroleum market, by type, 2014 - 2025 (USD Million)
TABLE 27 China TIC public sector market, 2014 - 2025 (USD Million)
TABLE 28 China TIC public sector market, by type, 2014 - 2025 (USD Million)
TABLE 29 China TIC transportation market, 2014 - 2025 (USD Million)
TABLE 30 China TIC transportation market, by type, 2014 - 2025 (USD Million)
TABLE 31 China TIC transportation market, by automotive applications 2014 - 2025 (USD Million)
TABLE 32 China TIC transportation market, by aerospace & defense applications 2014 - 2025 (USD Million)
TABLE 33 China TIC transportation market, by marine applications 2014 - 2025 (USD Million)
TABLE 34 China TIC transportation market, by railway applications 2014 - 2025 (USD Million)
TABLE 35 China TIC supply chain & logistics market, 2014 - 2025 (USD Million)
TABLE 36 China TIC supply chain & logistics market, by application, 2014 - 2025 (USD Million)

List of Figures

FIG. 1 Market segmentation & scope
FIG. 2 China TIC Market - Value chain analysis
FIG. 3 China TIC Market dynamics
FIG. 4 Key opportunities prioritized
FIG. 5 Porter's five forces analysis
FIG. 6 China TIC Market - PEST analysis
FIG. 7 China regulatory authorities