According to Future Market Insights, the global environment testing, inspection, and certification market is expected to represent a value of over US$ 23,000 Mn by the end of 2026.
Future Market Insights states that the global market environment testing, inspection, and certification is projected to reflect a healthy CAGR over the forecast period, 2017-2026.
The growth of the global environment testing, inspection, and certification market is mainly secured by various macro-economic and micro-economic factors. With the growing need to deliver product observation with the stringent standards and regulations set up by the government, demand for environmental testing, inspection and certification services continues to rev up in the global market.
Moreover, the surge in consumption of various goods particularly in the developing countries has further contributed to the global market growth of environment testing, inspection, and certification.
Growing need to ensure compliance with the product quality and safety has led to an upsurge in demand for environment inspection, testing, and certification services. In addition, rising instances of counterfeiting and piracy activities are projected to impact the global market growth of environment testing, inspection, and certification positively.
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Leading companies in the global market are focusing on outsourcing services for testing, certification and inspection of the product. With the increasing imposition of the stringent regulations by the government, conducting internal tests continues to remain comparatively costly.
Services for inspection, testing, and certification services continue to witness a surge in demand among third-party retailers for various applications inclusive of consumer goods and manufacturing.
Agriculture Industry to Represent a Leading Segment
Growing need to ensure safety and premium quality of the products has led the manufacturers to opt for testing products globally. On the basis of product type, the testing segment is expected to represent the highest revenue share, accounting for a value of over US$ 1,000 Mn by the end of 2017. The certification product type segment is expected to witness a robust CAGR in the global market throughout the forecast period.
Based on end user, the agriculture industry segment is expected to generate significant revenues, recording a value of over US$ 1,000 Mn by the end of 2026. In contrary to this, the industrial product manufacturer product type segment is expected to register the highest CAGR during the forecast period.
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By sample type, the water testing segment is expected to witness robust revenue growth, representing a value of over US$ 600 Mn by the end of 2017. However, the waste testing sample type segment is expected to witness a healthy CAGR through 2026.
Based on the test type, the toxins segment is expected to generate significant revenues, recording a value of over US$ 800 Mn by the end of 2026. On the other hand, the physical properties test type segment is expected to register an impressive CAGR during the forecast period.
Sales through Testing Products Remain High
By test type, the toxins segment is projected to generate significant revenues, representing for more than US$ 800 Mn by 2026-end. In contrary to this, the physical properties test type segment is projected to reflect a healthy CAGR in the global market through 2026. During the forecast period, the water testing sample type segment is projected to represent the highest revenue growth, recording more than US$ 600 Mn by 2017-end. In contrast, the waste testing sample type segment is projected to reflect a strong CAGR throughout the forecast period.
The growing need for premium quality and safe products has led to an upsurge in demand for testing the products among organizations and manufacturers globally. Based on product type, the testing segment is projected to witness significant revenue growth, representing more than US$ 1,000 Mn by 2017-end. In contrast, the certification product type segment is projected to register a robust CAGR throughout 2026. On the basis of end-user, the agriculture industry segment is projected to represent the highest revenue growth, accounting for more than US$ 1,000 Mn by 2026-end. However, the industrial product manufacturer product type segment is projected to reflect a healthy CAGR over the forecast period.
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Market Players
Major players operating in the global market of environment testing, inspection, and certification market are
Intertek Group, SGS SA, Yara International ASA, Bureau Veritas, Assure Quality, ALS Ltd, SCS Global, Exova Group, APAL Agriculture, RJ Hills Laboratories, Eurofins Scientific, TUV Nord AG, Danaher, GE Healthcare and Life sciences, SAI Global Limited, Agrolab Group, HRL Holdings Ltd, Cawood Scientific, SESL Australia and EnviroLab.
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