Press Releases

The report "Europe TIC Market by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Agriculture & Food, Construction, Life Science, Consumer Goods & Retail, Automotive, Manufacturing and Industrial Goods, Energy & Utilities, Transportation, Oil, Gas & Chemical, Marine & Mining, Environmental, and Others) – Europe Forecast to 2030", The Europe TIC market is predicted to grow at a 4.8% CAGR during the forecast period and reach USD 73.5 billion by 2030. Factors attributing to the growth of the Europe TIC market include rising international trade, strict regulations, mandatory certification requirements, increasing cost that are related to non-compliance, and product recall, along with rising consumer awareness about product standards, thereby accelerating the market development of the Europe TIC market. The rising investment in infrastructure and building, integrating predictive maintenance, technological development, and rising significance of IoT has also led to favorable growth for Europe’s TIC industry. The increased consumer awareness and rising demand for high-quality products will bolster the market development of Europe TIC industry. Germany and France both have sizable automobile industries, which makes it necessary for both countries' businesses to implement effective testing and inspection ecosystems. Additionally, the existence of several fashion labels, consumer goods firms, and retail establishments in countries like Italy and the U.K. facilitates the growth and expansion of the TIC market in the region.

In July 2022, Bureau Veritas acquired AMSFashion who has an experience in quality, conformity, and sustainability services for the fashion business and also includes organic/vegan content verification and durability testing. Bureau Veritas says the acquisition of AMSfashion will strengthen its presence in Iberia, a key hub for expanding its Consumer Products Services business, while also supporting the company's continued growth in nearshoring from South Europe and Africa. This also enables Bureau Veritas to assist European retailers and brands looking to improve the reliability and resilience of their supply chains.

Bowse 63 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on "Europe TIC Market by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Agriculture & Food, Construction, Life Science, Consumer Goods & Retail, Automotive, Manufacturing and Industrial Goods, Energy & Utilities, Transportation, Oil, Gas & Chemical, Marine & Mining, Environmental, and Others), and Region – Europe Forecast to 2030"

By service type, certification services are anticipated to have a high CAGR during the forecast period.

The certification services are expected to have a high CAGR during the forecast period owing to the rising number of specific standards by international standardized institutions and governments. Certification services are coupled with inspection and testing and highlight the credibility of the company in the market. Companies in the TIC industry maintain a wide range of accreditations and recognitions for certification services that are related to quality, health & safety, the environment, and social responsibility and guarantee reliability. As the TIC market is expanding, customers are also looking for solutions that are secure, dependable, and environmentally friendly.

Europe TIC Market Segmentation Analysis

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“Poland is anticipated to have a high CAGR during the forecast period.”

During the forecast period, Poland's TIC market is anticipated to develop at a high CAGR. The development of manufacturing capabilities in most of industries, including aircraft, automotive, consumer durables, food, IT, and software, is what accounts for the highest CAGR. Additionally, exports from Poland have contributed to the growth of TIC services' market share in Europe.

Some of the major players in the Europe TIC industry include Bureau Veritas, DEKRA SE, Applus+, ALS, DNV GL, SGS Société Générale de Surveillance SA, Intertek Group plc, TÜV SÜD, UL LLC, and MISTRAS Group.

Scope of the Report

Europe TIC Market Coverage

Sourcing Type Insight and Forecast 2018-2030

• In-House
• Outsourced

Service Type Insight and Forecast 2018-2030

• Testing
• Inspection
• Certification

Industry Vertical Insight and Forecast 2018-2030

• Agriculture & Food
• Construction
• Life Science
• Consumer Goods & Retail
• Automotive
• Manufacturing and Industrial Goods
• Energy & Utilities
• Transportation
• Oil, Gas & Chemical
• Marine & Mining
• Environmental
• Others

Geographical Segmentation

Europe TIC Market by Region

Germany

• By Sourcing Type
• By Service Type
• By Industry Vertical

U.K.

• By Sourcing Type
• By Service Type
• By Industry Vertical

France

• By Sourcing Type
• By Service Type
• By Industry Vertical

Italy

• By Sourcing Type
• By Service Type
• By Industry Vertical

Spain

• By Sourcing Type
• By Service Type
• By Industry Vertical

Russia

• By Sourcing Type
• By Service Type
• By Industry Vertical

Poland

• By Sourcing Type
• By Service Type
• By Industry Vertical