According to IMARC Group’s latest report, titled “Testing and Commissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global testing and commissioning market reached a value of US$ 219.1 Billion in 2021. Testing and commissioning represent a range of quality-oriented techniques implemented to assess the performance of various services, facility systems, and infrastructures. It involves planning, coordinating, laboratory evaluation, documentary checks, verification, and risk management as standard procedures. Testing and commissioning aids in maximizing the energy efficiency of systems, meeting the mandated standards concerning quality and safety, and extending product life at reduced operation and maintenance costs. Consequently, it is extensively carried out by private and public authorities throughout the supply chain operations.
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Rapid globalization and the emergence of complex supply chain operations have facilitated the widespread adoption of testing and commissioning processes across various industrial verticals, which is primarily driving the market growth. Additionally, the implementation of stringent standards and regulations by governments has prompted manufacturers to employ testing and commissioning procedures to ensure product quality and safety. This, in turn, is propelling the market growth. Apart from this, the execution of voluntary-based risk management and the introduction of digital inspection solutions over manual processes and their large-scale integration with sensors, big data, and predictive maintenance systems are contributing to the market growth. Looking forward, IMARC Group expects the global testing and commissioning market to reach US$ 295.5 Billion by 2027, exhibiting at a CAGR of 5.0% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- SGS SA
- Bureau Veritas SA
- Intertek Group plc
- DEKRA SE
- TUV SUD AG.
Key Highlights of the Market Segmentation:
Breakup by Service Type:
- Testing
- Certification
- Commissioning
Breakup by Commissioning Type:
- Initial Commissioning
- Retro Commissioning
- Monitor-Based Commissioning
Breakup by Sourcing Type:
- Inhouse
- Outsourced
Breakup by End Use Sector:
- Construction
- Industrial
- Consumer Products
- Life Sciences
- Oil and Gas
- Food and Agriculture
- Marine and Offshore
- Transport and Aerospace
- Energy and Power
- Chemicals
- Others
Breakup by Region:
- Europe
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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