The China Testing, Inspection, And Certification Market size is anticipated to reach USD 64.9 billion by 2028, according to a new report by Grand View Research. The market is anticipated to expand at a CAGR of 7.1% from 2021 to 2028. The 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 & beauty products, and electrical and electronic appliances are driving the growth of the China testing, inspection, and certification (TIC) market. Furthermore, an 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 TIC 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 Chinese 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 Chinese provinces.
The government has encouraged foreign investments by lifting the barriers for
international TIC 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 TIC
in China due to cost benefits. This growing trend of outsourcing TIC services
is anticipated to further drive the growth of 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 TIC
service providers.
Related Press Release@ China Testing, Inspection, And Certification Market Report
China Testing, Inspection,
And Certification Market Report Highlights
- The Chinese TIC market is witnessing considerable growth owing to
an increasing number of investments from international incumbents
- The inspection service segment is expected to expand at the highest
CAGR of 8.1% 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
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