The China testing, inspection & certification market size is anticipated to reach USD 61.8 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 7.8% from 2020 to 2027. The high standards of living in China 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 growth of the China TIC market. Further, 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 of the market in China. Furthermore, the market is expected to grow at a faster pace in China owing to government investments in the transportation and energy sectors as well as the construction industry. The China government has introduced favorable policies for international players to establish their foothold in the country to achieve progressive liberalization. The domestic players capture a majority share of the market in several provinces of China. The government has encouraged foreign investments in the market by lifting the barriers for international testing, inspection, and certification providers to enter and operate in the Mainland marketplace. Previously, most companies in China conducted their testing, inspection, and certification operations in-house. However, with the growing acceptance of the China Compulsory Certification (CCC), a greater emphasis is placed on the need for strict regulatory standards and certifications and this has led to an increase in outsourcing activities of testing, inspection, and certification in China due to cost benefits. This growing trend of outsourcing testing, inspection, and certification services is anticipated to further drive the market over the forecast period due to the increased accessibility of the domestic market for international players and the provision of cost-effective solutions by the testing, inspection, and certification service providers. Further key findings from the report suggest: • The China TIC market is witnessing considerable growth owing to an increasing number of investments from international incumbents • The inspection service segment is expected to exhibit the highest CAGR of 8.8% over the forecast period • TIC forms an integral part of the infrastructure and transportation sectors in China and hence, the growth of the two sectors is expected to drive the demand for testing inspection, and certification activities • The key industry participants 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; and China Classification Society.
Table of Contents Chapter 1 Methodology and Scope 1.1 Information Procurement and fResearch Scope 1.2 Information Analysis 1.3 Market formulation & data visualization 1.4 Market Scope and Assumptions 1.4.1 Secondary sources 1.4.2 Primary Sources Chapter 2 Executive Summary 2.1 Market Outlook Chapter 3 Market Variables, Trends & Scope 3.1 Market Segmentation & Scope 3.2 Penetration & Growth Prospect Mapping 3.3 Market Dynamics 3.3.1 Market driver analysis 22.214.171.124 Growing opportunities for international players in domestic TIC outsourcing market 126.96.36.199 Strict implementation of testing, inspection & certification regulations 188.8.131.52 Surging capital investments in infrastructure, transport, energy production sectors 3.3.2 Market restraint analysis 184.108.40.206 Difference in Chinese and International Standards 220.127.116.11 Challenging local business practices for MNC's 3.4 Industry Analysis - Porter's 3.4.1 Supplier Power 3.4.2 Buyer Power 3.4.3 Substitution Threat 3.4.4 Threat from new entrant 3.4.5 Competitive rivalry 3.5 PEST Analysis 3.5.1 Political and Legal Landscape 3.5.2 Environmental Landscape 3.5.3 Social Landscape 3.5.4 Technology Landscape 3.6 China TICs Market - Value Chain Analysis 3.7 Competitor Analysis & Vendor Landscape - China 3.7.1 List of Key Participants, 2019 (International and Local) 18.104.22.168 International Players 22.214.171.124 Local and National Players 126.96.36.199 Other Notable Players 3.8 Key Regulations for China TIC market 3.8.1 China Compulsory Certification mark (CCC) 3.8.2 Sector-wise List of Regulation for China TIC Market 3.8.3 ISO Standards in China 3.8.4 International Accreditation Bodies in China 3.8.5 Chinese ISO Certification Bodies with International Accreditation Chapter 4 China TIC: Service Outlook 4.1 China TIC Market Share by Service, 2019 & 2027 Chapter 5 China TIC: Sourcing Type Outlook 5.1 China TIC Market Share by Sourcing Type, 2019 & 2027 Chapter 6 China TIC: Application Outlook 6.1 China TIC Market Share by Application, 2019 & 2027 Chapter 7 Competitive Landscape 7.1 AsureQuality Limited 7.1.1 Company overview 7.1.2 Product Benchmarking 7.1.3 Recent developments 7.2 Bureau Veritas SA 7.2.1 Company overview 7.2.2 Financial performance 7.2.3 Product Benchmarking 7.2.4 Recent developments 7.3 DEKRA SE 7.3.1 Company overview 7.3.2 Financial performance 7.3.3 Product Benchmarking 7.3.4 Recent developments 7.4 DNV GL Group AS 7.4.1 Company overview 7.4.2 Financial performance 7.4.3 Product Benchmarking 7.4.4 Recent developments 7.5 Intertek Group PLC 7.5.1 Company overview 7.5.2 Financial performance 7.5.3 Product Benchmarking 7.5.4 Recent developments 7.6 Lloyd's Register Group Limited 7.6.1 Company overview 7.6.2 Financial performance 7.6.3 Product Benchmarking 7.6.4 Recent developments 7.7 SGS S.A. 7.7.1 Company overview 7.7.2 Product Benchmarking 7.7.3 Recent developments 7.8 TUV Rheinland AG Group 7.8.1 Company overview 7.8.2 Product Benchmarking 7.8.3 Recent developments 7.9 Underwriters Laboratories Inc. 7.9.1 Company overview 7.9.2 Product Benchmarking 7.10 Asia Quality Focus 7.10.1 Company overview 7.10.2 Financial performance 7.10.3 Product Benchmarking 7.10.4 Recent developments 7.11 HQTS Group Ltd 7.11.1 Company overview 7.11.2 Product Benchmarking 7.12 InTouch Services Ltd. 7.12.1 Company overview 7.12.2 Product Benchmarking 7.13 Beijing Veritell 7.13.1 Company overview 7.13.2 Product Benchmarking 7.14 China Inspection Co., Ltd. 7.14.1 Company overview 7.14.2 Product Benchmarking 7.15 Centre Testing International 7.15.1 Company overview 7.15.2 Financial Performance 7.15.3 Product Benchmarking 7.16 China Certification & Inspection Group (CCIC) 7.16.1 Company overview 7.16.2 Product Benchmarking 7.17 Asia Quality Control 7.17.1 Company overview 7.17.2 Product Benchmarking 7.17 V-Trust 7.18.1 Company overview 7.18.2 Product Benchmarking 7.19 TUV SUD 7.19.1 Company overview 7.19.2 Financial performance 7.19.3 Product Benchmarking 7.20 TUV Nord 7.20.1 Company overview 7.20.2 Financial performance 7.20.3 Product Benchmarking 7.21 American Bureau of Shipping (ABS) 7.21.1 Company overview 7.21.2 Product Benchmarking 7.21.3 Recent developments 7.22 Hartford Steam Boiler (HSB) 7.22.1 Company overview 7.22.2 Product Benchmarking 7.23 Larsen & Toubro 7.23.1 Company overview 7.23.2 Financial performance 7.23.3 Product Benchmarking 7.24 Asia Inspection 7.24.1 Company overview 7.24.2 Product Benchmarking 7.25 China Building Material Test & Certification Group Co. Ltd 7.25.1 Company overview 7.25.2 Financial Performance 7.25.3 Product Benchmarking 7.26 China Special Equipment Inspection and Research Institute (CSEI) 7.26.1 Overview 7.26.2 Product Benchmarking 7.27 China Classification Society (CCS) 7.27.1 Overview 7.27.2 Product Benchmarking
List of Tables TABLE 1 China TIC Market - Industry snapshot & critical success factor TABLE 2 China TIC market by Service, 2016 - 2027 (USD Billion) TABLE 3 China TIC market by Sourcing Type, 2016 - 2027 (USD Billion) TABLE 4 China TIC market by Application, 2016 - 2027 (USD Billion) TABLE 5 China TIC Consumer Goods & Retail market, 2016 - 2027 (USD Million) TABLE 6 China TIC Consumer Goods & Retail market, by Application, 2016 - 2027 (USD Million) TABLE 7 China TIC Agriculture & Food market, 2016 - 2027 (USD Million) TABLE 8 China TIC Agriculture & Food market, by Application, 2016 - 2027 (USD Million) TABLE 9 China TIC Agriculture & Food market, by Beverages 2016 - 2027 (USD Million) TABLE 10 China TIC Alcoholic beverages market, by type, 2016 - 2027 (USD Million) TABLE 11 China TIC Non-alcoholic beverages market, by type, 2016 - 2027 (USD Million) TABLE 12 China TIC Chemicals market, 2016 - 2027 (USD Million) TABLE 13 China TIC Chemicals market, by application, 2016 - 2027 (USD Million) TABLE 14 China TIC Infrastructure market, 2016 - 2027 (USD Million) TABLE 15 China TIC Infrastructure market, by application, 2016 - 2027 (USD Million) TABLE 16 China TIC Energy & Power market, 2016 - 2027 (USD Million) TABLE 17 China TIC Energy & Power market, by type, 2016 - 2027 (USD Million) TABLE 18 China TIC Energy & Power market, by Energy Sources 2016 - 2027 (USD Million) TABLE 19 China TIC Manufacturing market, 2016 - 2027 (USD Million) TABLE 20 China TIC Manufacturing market, by type, 2016 - 2027 (USD Million) TABLE 21 China TIC Healthcare market, 2016 - 2027 (USD Million) TABLE 22 China TIC Healthcare market, by type, 2016 - 2027 (USD Million) TABLE 23 China TIC Mining market, 2016 - 2027 (USD Million) TABLE 24 China TIC Mining market, by type, 2016 - 2027 (USD Million) TABLE 25 China TIC Oil, Gas & Petroleum market, 2016 - 2027 (USD Million) TABLE 26 China TIC Oil, Gas & Petroleum market, by type, 2016 - 2027 (USD Million) TABLE 27 China TIC Public Sector market, 2016 - 2027 (USD Million) TABLE 28 China TIC Public Sector market, by type, 2016 - 2027 (USD Million) TABLE 29 China TIC Transportation market, 2016 - 2027 (USD Million) TABLE 30 China TIC Transportation market, by type, 2016 - 2027 (USD Million) TABLE 31 China TIC Transportation market, by Automotive applications 2016 - 2027 (USD Million) TABLE 32 China TIC Transportation market, by Aerospace & Defense applications 2016 - 2027 (USD Million) TABLE 33 China TIC Transportation market, by Marine applications 2016 - 2027 (USD Million) TABLE 34 China TIC Transportation market, by Railway applications 2016 - 2027 (USD Million) TABLE 35 China TIC Supply Chain & Logistics market, 2016 - 2027 (USD Million) TABLE 36 China TIC Supply chain & Logistics market, by application, 2016 - 2027 (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
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