Status : Published | Published On : Jan, 2024 | Report Code : VRSME9054 | Industry : Semiconductor & Electronics | Available Format : | Page : 160 |
The Global Fire Safety Equipment Testing, Inspection, And Certification Market reached approximately USD 0.58 billion in 2023, with a projected compound annual growth rate (CAGR) of 4% from 2025 to 2030.
Testing in TIC means an industrial activity that assures manufactured products, individual components, and multi-component systems are suitable for the predetermined purpose. Inspection and testing are the operating parts of quality control which supports cost, productivity, on-time delivery, and market share, thus the critical factor for the survival of any manufacturing company. The testing, inspection, and certification market report is composed of conformity assessment agencies, which provide services from audit and inspection to testing, verification, quality assurance, and certification.
Globalization has led to product standardization norms and has penetrated developed technologies across various industries such as fire safety equipment, food and beverage, electronics and automotive industries, etc., resulting in the growth of the TIC market during the forecast period 2025-2030. Moreover, the growing middle-class population, rapid urbanization, mandatory safety regulations, upsurge in the illicit trade of counterfeit and pirated products, advancement in networking and communication technology, the inclination of outsourcing testing, inspection, and certification services has propelled the growth of the TIC market in the fire safety equipment. 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. There is an increase in demand for fire safety systems in various industrial verticals such as automotive, manufacturing, energy and power, oil & gas, petrochemical, mining, construction, etc., and rising automation in buildings which will drive the market growth of the TIC market. Moreover, the developed and emerging economies like Europe, Asia Pacific, and North America have implemented mandatory regulations for the installation of fire safety equipment in residential, commercial, and industrial sectors.
The COVID-19 pandemic resulted in a short-term decline in demand and revenue in the first quarter of 2020. This has impacted a decline in the installation of new fire safety equipment in industrial and commercial sectors. Nevertheless, there is a growth in spending on new construction activities and replacing obsolete fire alarms, sprinklers, and detectors, which will propel the growth of the fire safety equipment market. Thus, TIC is playing a crucial role by offering assurance that the products and services offered to the customers will provide safety and health standards.
Business organizations in the TIC market are intensifying IT infrastructures and developing business continuity plans, implying that the testing, inspection, and certification market are holding the substantial potential to bounce back from the COVID-19 outbreak. This is due to the fact that TIC services will enhance and protect brand reputation, verify products’ safety, and enables trade.
Market Segmentation
Insight by Sourcing Type
Based on sourcing type, the TIC market for fire safety equipment is bifurcated in-house and outsourced. Among the two segments, outsourced fire testing is anticipated to grow at a faster pace during the forecast period due to the growing regulations which require more cost and time that make in-house a costly affair. Moreover, many big firms in the consumer goods & retail sector are outsourcing their consumer goods for fire testing because outsourcing is cheaper than in-house, resulting in the outsourced fire testing services market growing rapidly.
Insight by Service Type
Based on service type, the TIC market for fire safety equipment is segmented into testing, inspection, and certification. Among these segments, the certification market is anticipated to dominate the TI market during the forecast period owing to the need for fire certification for products and equipment which will comply with the relevant standards and legislation across various regions. The certification standards vary from country to country across various industrial verticals as a result company is choosing certifications services to protect the supply chain, data, and operations.
Insight by Industry Vertical
Based on industry vertical, the TIC market for fire safety equipment is divided into notification appliances, fire alarm control products & systems, smoke/fire/gas detection, fire extinguishers, sprinklers, fire pumps, foam equipment, water mist systems, and others. Fire detection is anticipated to register a high CAGR during the forecast period owing to the rising number of policies and regulations, government mandates, adoption of advanced technology in detection devices. Moreover, there are rising cases of fire accidents globally which compels the need to install fire safety equipment. Nevertheless, the advancement in construction and infrastructure, rising concept of smart city projects, increase in disposable income among consumers and the rising awareness will provide opportunities for the growth of the fire detectors, resulting in the growth of the TIC market for fire safety equipment.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 0.58 Billion |
Revenue Forecast in 2030 |
U.S.D. xx.x Billion |
Growth Rate |
4% |
Segments Covered in the Report |
By Sourcing Type, By Service Type and 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 |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The TIC market for fire safety equipment is characterized by various industry trends such as growing investment in AR and VR, mounting adoption of connected devices and cloud-based technology, increasing mergers and acquisitions by the industry players, and sustained consolidation of suppliers leading to globalization.
Growth Drivers
The demand for TIC (Testing, Inspection, and Certification) in fire safety equipment is expected to rise due to growing government regulations, industry standards, certification requirements, and penalties for non-compliance. Additionally, the increasing adoption of safety systems in various industries and the automation of buildings will further fuel the growth of the TIC market. As a result, manufacturing companies are focusing more on offering high-quality products to improve customer retention. This will lead to a higher demand for interoperability testing for connected devices and IoT, driven by globalization, the rise of global trade, and emerging digital technologies. Overall, these factors will significantly contribute to the growth of the TIC market in the fire safety equipment sector.
Challenges
The testing, inspection, and certification market face certain challenges like trade wars and growth fluctuations, huge investment for automation and installation of industrial safety systems, high cost of TIC owing to diverse standards and regulations of fire testing services globally. Moreover, lack of awareness about fire safety in emerging economies, testing facilities, and skilled personnel may hamper the growth of the TIC market.
Opportunities
Testing, inspection, and certification is a massive market that provides lucrative opportunities in technologies such as AI, robotics, drones, big data analytics, next-generation automation, and cloud and cybersecurity. Moreover, the growing adoption of the smart city concept and rising investment in R&D activities will provide opportunities for the growth of TIC market in fire safety equipment.
Geographic Overview
North America dominates the TIC market for fire safety equipment in 2020 owing to rapid commercial and industrial construction development, mandatory government regulations regarding workplace safety will accelerate the adoption of fire safety equipment, resulting in the growth of the TIC market in the region.
The Asia-Pacific is anticipated to have a high CAGR during the forecast period owing to the rising investment in R&D, rapid urbanization & industrialization. Europe is anticipated to hold a significant share in the TIC market for fire safety equipment during the forecast period owing to mandatory government regulation about fire safety and testing across Europe will propel the market growth further.
Competitive Insight
Key players are adopting technological changes to improve their product portfolio and generate new revenues, optimize the operational cost, and enhance service efficiencies via process upgrades. The industry players are taking the COVID-19 crisis as an opportunity to restructure and revisit their existing strategies, focus on new services and delivery models to access the demand for rising automation, remotely-performed services, and enhanced digitization.
The business enterprises have started opening development centers in new locations to enhance market penetration which helps in building business relations with customers and clients. Moreover, the industry players in the TIC market have started building strategies like mergers and acquisitions, product innovation, and geographical expansion to hold a major share in the TIC market.
Some of the key players operating in the TIC market in the fire safety equipment: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins USA, TUV Rheinland, DEKRA SE, ALS Limited, Applus+, and DNV GL.
Recent Developments by Key Players
Eurofins Scientific is a global leader in bioanalytical testing has acquired Ascend Clinical (the largest independent laboratory for kidney dialysis testing in the United States).
TÜV Rheinland (an international independent third-party testing, inspection, and certification organization) collaborated with Nippon Paint. The agreement involved extensive collaboration in green and sustainable development, focusing on composite frame, photovoltaic (PV) modules, coatings and other tests and international certification services.
The TIC Market for Fire Safety Equipment report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research
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TIC Market for Fire Safety Equipment