Status : Published | Published On : Nov, 2024 | Report Code : VRSME9160 | Industry : Semiconductor & Electronics | Available Format : | Page : 96 |
The Middle East TIC Market for Building & Construction Industry reached approximately USD 10 billion in 2023, with a projected compound annual growth rate (CAGR) of 5.7% during the forecast period from 2025 to 2030.
TIC services ensure that the products, and services meet legal requirements and standards. In the building and construction industry, TIC services include acoustics testing, engineering support, fire safety testing, heat pump testing, indoor environment testing, structural testing. Quality control, encompassing inspection and testing, plays a vital role in the survival of companies by directly impacting factors like cost, productivity, on-time delivery, and market share.
Due to globalization product standardization norms has penetrated developed technologies across various industries such as building & construction, automotive industries, food and beverage, electronics, etc. that has resulted in the growth of the TIC market during the forecast period 2025-2030. High demand for ultra-luxury hotels, personalized experiences, and high-end retail tourism, growing emphasis on eco-friendly resorts and green initiatives contributes to the market growth. Governments are promoting local travel options, specially during periods of global travel restrictions. Nevertheless, TIC provides various advantages related to its credibility and image, compliance with legal and regulatory requirements, less turnover of employees, high level of cost control improvement, and fast improvement of different processes. TIC in the construction sector includes building material testing, chemical testing for construction material, electrical wiring, inspection, geotechnical, and situational testing, resulting in providing more scope of TIC services in the building & construction industry. TIC companies are catering to different industrial sectors such as agriculture, automotive, raw materials, IT and electronics, building & construction, environmental protection, food testing, and oil and gas, maritime, medicine, education, tourism, logistics, consumer products, etc. and provide various standards and legislation
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 10 Billion |
Revenue Forecast in 2030 |
U.S.D. 18.2 Billion |
Growth Rate |
5.7% |
Segments Covered in the Report |
By Sourcing Type, By Service Type, By Industry Vertical |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
Middle East |
Middle East TIC Market for Building & Construction Industry Dynamics
Middle East TIC Market for Building & Construction Industry Trends / Growth Drivers
Various market trends fueling market growth are outsourcing of TIC services, concerned consumers that demand a high level of assurance, businesses under pressure to demonstrate their commitment to environmental and social responsibility, the rapid pace of technological innovation. The market is boosting due to the rapid urbanization, increased construction activities, rising demand for engineering support, quality and safety. In the building and construction industry, the rising government regulations and industry standards, along with strict certification requirements and substantial penalties for non-compliance, are also expected to fuel the demand for Testing, Inspection, and Certification (TIC) services.
Middle East TIC Market for Building & Construction Industry Challenges
The testing, inspection, and certification market face certain limitations such as trade wars and growth fluctuations, a huge investment for automation and installation of industrial safety systems, and the high cost of TIC owing to diverse standards and regulations globally. Geopolitical instability can impact travel safety perceptions. Neighboring countries like compete for similar markets in culture and leisure tourism and a lack of testing facilities and skilled personnel may hamper the growth of the TIC market.
Middle East TIC Market for Building & Construction Industry Opportunities
Testing, inspection, and certification is a massive market that provides lucrative opportunities in technologies such as AI, big data analytics, robotics, drones, next-generation automation, cloud and cybersecurity.
Recent Developments by Key Players
Orascom Construction (OC) along with the UK’s Colas Rail and Japan’s Hitachi Rail collaborated with Egypt’s National Authority for Tunnels (NAT) for the modernization of Cairo’s Metro Line 1. This investment is of Euro 800 million.
Middle East TIC Market for Building & Construction Industry Segmentation
VynZ Research provides an analysis of the key trends in each segment of the Middle East TIC Market for Building & Construction Industry report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on sourcing type, service type, industry vertical.
Market Segmentation
Insight by Sourcing Type
Based on sourcing type, the TIC market for the building & construction industry is bifurcated into in-house and outsourced. Among the two segments, the in-house segment dominates the market and is anticipated to hold the largest share during the forecast period as deploying in-house testing and inspection will offer companies to have complete control over the entire process in terms of technology, skilled personnel, and testing and measurement equipment.
Insight by Service Type
Based on service type, the TIC market for the building & construction industry is segmented into testing, inspection, and certification. Among these segments, the testing segment holds the largest share in the testing, inspection, and certification market during the forecast period owing to the diverse product standards, stringent regulations, increasing need for improved safety, growing industrialization, and a need to protect the brand. There is a high use of testing practices in the building & construction industry which results in maintaining high-quality parameters and meeting the requirements of consumers.
Insight by Industry Vertical
Based on industry vertical, the TIC market for the building & construction industry is divided into building materials, infrastructure & capital equipment, and others. The building material is sub-divided into material testing, material certification, and coating inspection & failure analysis. This can be attributed to the extensive use of certified materials and technologies in the building and construction sectors.
Middle East TIC Market for Building & Construction Industry: Geographic Overview
Geographically, Saudi Arabia dominate the market as it is at the forefront with ambitious giga-projects followed by Dubai and Abu Dhabi which is known for luxury infrastructure, tourism-oriented projects, and mixed-use developments
Middle East TIC Market for Building & Construction Industry Competitive Insight
Key players are adopting technological changes to improve their product portfolio and generate new revenues, optimize operational cost, and enhance service efficiencies via process upgrades.
The Middle East TIC Market for Building & Construction Industry report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
PRIMARY RESEARCH INTERVIEWS - BREAKDOWN
Middle East TIC Market for Building & Construction Industry