According to IMARC Group’s latest report, titled “Testing and Commissioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global testing and commissioning market reached a value of US$ 208.6 Billion in 2020. Testing and commissioning, a quality-oriented process, is deployed for verifying and authenticating installations to meet the design requirements. The technique involves data consistency verification, audits process management, documentary checks, supply chain inspection, and on-site laboratory evaluation. It also offers various benefits, such as better building maintenance, improved operations, enhanced safety compliance, and reduced energy cost.
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The rapid introduction of premium testing and commissioning services to replace manual procedures are primarily driving the market growth. Additionally, the rising awareness regarding worker’s safety and the implementation of mandatory testing services for risk management are contributing to the market growth. Apart from this, the widespread adoption of testing and commissioning in various industrial verticals for reducing energy waste, detecting problems in existing buildings, and saving energy costs is impelling the market growth. Other factors, such as the integration of cloud-based, blockchain, artificial intelligence (AI), and machine learning (ML) solutions, are positively stimulating the market growth. Looking forward, IMARC Group expects the testing and commissioning market to grow at a CAGR of 4.7% during 2021-2026.
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.
Breakup by Service Type:
Breakup by Commissioning Type:
- Initial Commissioning
- Retro Commissioning
- Monitor-Based Commissioning
Breakup by Sourcing Type:
Breakup by End Use Sector:
- Consumer Products
- Life Sciences
- Oil and Gas
- Food and Agriculture
- Marine and Offshore
- Transport and Aerospace
- Energy and Power
Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.