$8.6 Billion Fire Testing Market Outlook, 2019-2024 - Increasing Adoption of Smart City Concept & Stringent Government Norms Drive Industry Opportunities
DUBLIN, Dec. 19, 2019 /PRNewswire/ -- The "Fire Testing Market by Service Type (Testing, Inspection, and Certification), Sourcing Type (In-house and Outsourced), Application (Consumer Goods & Retail, Chemicals, Construction & Infrastructure, Mining) Region - Global Forecast till 2024" report has been added to ResearchAndMarkets.com's offering.
The fire testing market is expected to grow at a CAGR of 6.4% during the forecast period to reach USD 8.6 billion by 2024 from USD 5.9 billion in 2018.
The fire testing market is growing, owing to an increase in demand for TIC services for applications such as automotive, construction and infrastructure, consumer goods, agriculture and food, transportation, and medical and life sciences.
The major players in the fire testing market are SGS Group (Switzerland), Bureau Veritas (France), Intertek (UK), UL LLC (US), and DEKRA SE (Germany). Several other major players in the market are QIMA (Hong Kong), Applus+ (Spain), United Technologies (US), Element Materials Technology (UK), and International Fire Consultants Group (UK).
Testing services market to hold the largest market share in 2019
The fire testing market has been segmented into services and sourcing type. Based on service, the fire testing market has been segmented into testing, inspection, and certification. The major objective of fire testing services is to determine whether fire protection products meet minimum performance criteria as set out as per the legislation. Laboratory scale fire testing can help determine the fire performance of a product, thereby assisting manufacturers design products that are fire-resistant and have a lower spread of flame characteristic, hence the demand for testing services for fire testing has increased significantly.
In-house sourcing held largest share in fire testing market during the forecast period
Majority of the fire testing, inspection, and certification are conducted in-house. This process is particularly evident in applications such as life sciences, utilities, and public sectors. Several companies have their own in-house capabilities, including full-service laboratories offering fire testing services for different sectors such as consumer goods and retail, building and construction, IT and telecom, agriculture and food, chemicals, energy & power, industrial and manufacturing, and medical and life sciences. The in-house fire testing market is expected to have a significant share as the majority of the companies have their own in-house testing facilities. In terms of technology, test and measurement equipment, and skilled personnel.
APAC is largest and fastest-growing market during the forecast period
The growth in APAC for the fire testing market is increasing due to rapid industrialization and urbanization in countries such as China, India, and Japan. Also, this region is one of the biggest exporters of goods, products, and services. The population in this region is also enormous, and the number keeps on increasing at a steady rate. To sustain this, the manufacturing sector has to keep up with its growing demand for products and services. Thus, the growing demand for products and services will help to boost fire testing services in this region
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Fire Testing Market
4.2 Market, By Sourcing Type
4.3 Market in APAC, By Application
4.4 Market, By Application
4.5 Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Safety Systems in Industries
5.2.1.2 Growing Automation in Buildings
5.2.2 Restraints
5.2.2.1 Fire Legislation Requirements and International Regulations for Fire Testing Services
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Smart City Concept
5.2.3.2 Stringent Government Norms
5.2.3.3 Increasing Demand for Construction Equipment
5.2.4 Challenges
5.2.4.1 Lack of Awareness on Fire Safety in Developing Countries
6 Fire Testing Market, By Service
6.1 Introduction
6.2 Testing
6.2.1 Fire Testing Allows Manufacturers to Understand Behavior of Materials and Products
6.3 Inspection
6.3.1 Fire Inspections are Conducted Yearly Or on Demand as Required
6.4 Certification
6.4.1 Certification Standards Differ From Country to Country for Different Sectors
6.5 Others
7 Fire Testing Market, By Sourcing Type
7.1 Introduction
7.2 In-House
7.2.1 In-House Fire Testing Market in APAC Expected to Grow Owing to Growth of Manufacturing and Engineering Hubs
7.3 Outsourced
7.3.1 Privatization of State-Owned Laboratories Will Drive Growth of Outsourced Fire Testing Services
8 Fire Testing Market, By Application
8.1 Introduction
8.2 Consumer Goods and Retail
8.2.1 Fire Testing Services Help Determine How Devices React to Extreme Heat Or Fire to Ensure Safety of Consumers in Case of Fire
8.3 Agriculture and Food
8.3.1 Stringent Codes for Use of Equipment to Drive Market in Agriculture and Food Industry
8.4 Chemicals
8.4.1 Fire Testing Services Help Companies Understand Potential Risks Related to Fire Hazards
8.5 Construction and Infrastructure
8.5.1 Construction Material Testing to Drive Market in Construction & Infrastructure Market
8.6 Energy & Power
8.6.1 Demand for Fire Suppression Equipment in Power Generating Plants to Drive Market in Energy & Power Sector
8.7 Industrial and Manufacturing
8.7.1 Growing Number of Fire Incidents to Increase Demand for Fire Testing Services in Manufacturing Sector
8.8 Medical and Life Sciences
8.8.1 Increasing Demand for Medical Devices to Drive Market for Medical & Life Sciences Sector
8.9 Mining
8.9.1 Need for Safety in Mining Industry Will Drive Fire Testing Services in Future
8.10 Oil & Gas and Petroleum
8.10.1 Demand for Fire Safety Fosters Growth of Fire Testing Services in Future
8.11 Public Sector
8.11.1 Revised Fire and Life Safety Codes By Governments to Boost Fire Testing Service Market in Public Sector
8.12 Automotive
8.12.1 Component Fire Testing to Foster Growth of Fire Testing Services in Automotive Segment
8.13 Aerospace
8.13.1 Stringent Regulations, Standards, and Legislation to Drive Market in Aerospace and Defense Sector
8.14 Marine & Railway
8.14.1 Wide Range of Standards, Regulations, and Logistical Complexities to Drive Market in Marine & Railway Sector
8.15 Supply Chain and Logistics
8.15.1 Increasing Number of Warehouse Fires to Boost Market in Supply Chain & Logistics Sector
8.16 Others
8.16.1 Need to Ensure Safety of Sports and Leisure Equipment to Drive Fire Testing Services Market in Future
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 APAC
9.5 RoW
10 Competitive Landscape
10.1 Overview
10.2 Market Rank Analysis, 2018
10.3 Competitive Situations and Trends
10.3.1 Service Launches
10.3.2 Others
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic Differentiators
10.4.4 Emerging Companies
10.5 Strength of Service Portfolio (For All 25 Players)
10.6 Business Strategy Excellence (For All 25 Players)
11 Company Profiles
11.1 Key Players
11.1.1 SGS Group
11.1.2 Bureau Veritas S.A.
11.1.3 UL LLC
11.1.4 Intertek
11.1.5 DEKRA SE
11.1.6 TUV SUD
11.1.7 QIMA
11.1.8 Applus+
11.1.9 United Technologies
11.1.10 Element Materials Technology
11.1.11 International Fire Consultants Group
11.2 Right-To Win
11.3 Other Players
11.3.1 DNV GL
11.3.2 BRE Group
11.3.3 TUV Rheinland
11.3.4 Rina
11.3.5 Mistras Group Inc.
11.3.6 Premier Technical Service Group PLC (PTSG)
11.3.7 F.E. Moran Fire Protection
11.3.8 STC Group
11.3.9 Kiwa
11.3.10 Fireflow Services Inc.
11.3.11 J. Meadows Fire & Sprinkler
11.3.12 Geyer Fire
11.3.13 Impact Fire Services
For more information about this report visit https://www.researchandmarkets.com/r/hwnzfq
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