Market Segmentation
The domestic players capture a majority share of the TIC market in several Chinese provinces. The government has encouraged foreign investments in the TIC market by lifting the barriers for international TIC providers to enter and operate in the Mainland marketplace, which has fueled its market growth. The Compulsory China Certification covers more than 23 product categories such as wires, cables, appliances, consumer goods, and automotive parts are amongst all. Thus, with the rise in revenues of automotive, industrial, and consumer goods sectors, the demand for testing services has substantially increased in China, which has compelled the government to open its market to international players. However, due to an increasing number of regulations and standards, the in-house inspection, testing, and certification of products have become costlier. Therefore, several players in the industry have started outsourcing the TIC services to third-party service providers. With the rise of third-party inspection regulation internationally and rigorous application of CCC certification in China, the revenue of the outsourcing segment is expected to grow over the forecast period.
Owing to the nation’s gradual development and the growing economy, issues concerning food safety standards and environmental protection are likely to emerge. Furthermore, consumer concerns related to health and safety issues arising from the use of consumer electronics and the quality of consumer goods have necessitated the government to regulate the quality of the products manufactured domestically. There has been a marked improvement in the product quality by imposing mandatory certifications for several products, equipment, and systems. The growing acceptance of international players into the Chinese market is further anticipated to aid the government in regulating the quality of various products and services through third-party inspections offered by these incumbents.
China outsourced TIC services market is dominated by several recognized domestic players present across various provinces of China. These industry participants are considered superior in the Chinese TIC market as they can serve the clients with a broader range of products compared to the MNC’s. The domestic players in the country tend to upgrade to updated licenses, and accreditation’s easily, but the international players face difficulties in updating themselves according to the updated regulations. The international players tend to expand their business with mergers and acquisitions. The TIC business is relationship-driven. Thus, the domestic players use it < Back to Table of Contents China TIC Market Analysis & Segment Forecasts to 2027 29 ©Grand View Research, Inc., USA. All Rights Reserved as an advantage over the MNC’s as they have been serving the client with testing, inspection, and certification services for a more extended period.
This section will provide insights into the contents included in this china testing, inspection, and certification market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance