Market revenue in 2024 | USD 33,015.1 million |
Market revenue in 2030 | USD 42,247.8 million |
Growth rate | 4% (CAGR from 2025 to 2030) |
Largest segment | Testing |
Fastest growing segment | Certification |
Historical data covered | 2018 - 2023 |
Base year for estimation | 2024 |
Forecast period covered | 2025 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Testing, Inspection, Certification |
Key market players worldwide | ALS Ltd, Applus Services SA, Bureau Veritas SA, DEKRA Certification, Element Materials Technology, Eurofins Scientific SE, Intertek Group PLC, MISTRAS Group Inc, SGS AG |
Testing was the largest segment with a revenue share of 80.42% in 2024. Horizon Databook has segmented the Latin America testing, inspection, and certification market based on testing, inspection, certification covering the revenue growth of each sub-segment from 2018 to 2030.
Various Latin America countries, such as Brazil, Mexico, Argentina, and Chile, are increasingly implementing strict regulatory standards for product safety, environmental compliance, and quality assurance. Harmonization with international trade agreements and the requirements of export markets is driving companies to comply with third-party certifications and audits.
The increase in global trade agreements involving Latin America, such as the U.S.-Mexico-Canada Agreement (USMCA) and trade relationships with the EU and Asia, has boosted demand for TIC services. Export oriented industries, including automotive, agriculture, mining, and manufacturing, need international certifications to meet global quality and safety standards.
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