North America Testing, Inspection, and Certification (TIC) Market Overview
The North America Testing, Inspection, and Certification (TIC) market was valued at US 81.81 billion in 2022 and is projected to reach US 81.81 billion in 2022 and is projected to reach US 132.81 billion by 2030, growing at a CAGR of 6.2% from 2022 to 2030.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00006284
Key Growth Driver: Environmental Protection & Renewable Energy Initiatives
Environmental protection is gaining prominence in North America due to government policies and industrial initiatives. In January 2023, the U.S. Inflation Reduction Act of 2022 came into effect, providing:
- Investment Tax Credit (ITC): 30% for clean energy projects
- Production Tax Credit (PTC): US$ 0.0275/kWh (2023 value) for projects over 1 MW AC
These incentives are accelerating the transition to renewable energy, increasing demand for TIC services to ensure compliance, safety, and efficiency.
Market Expansion & Strategic Developments
To capitalize on this growth, TIC providers are expanding their capabilities:
- TÜV SÜD America Inc. invested US$ 44 million in a new environmental testing lab in Michigan (July 2023).
- Increased focus on renewable energy certifications, emissions testing, and sustainability compliance.
Such developments are propelling the North America TIC market, driven by stricter regulations and the shift toward a clean energy economy.
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Rising EV Adoption Unlocks Lucrative Opportunities in North America’s Testing, Inspection, and Certification Market
The surge in electric vehicle (EV) sales is driven by growing environmental concerns and supportive government policies promoting low-emission and zero-emission vehicles. For example, in 2021, Colorado offered a $4,000 tax credit for purchasing a light-duty EV, while Connecticut provided a reduced biennial registration fee of $38 for EVs.
According to the International Energy Agency (IEA), EV sales in the U.S. increased from 0.3 billion units in 2019 to 1.0 billion in 2022, with projections reaching 1.6 billion units by the end of 2023. Additionally, the Inflation Reduction Act (IRA) has significantly spurred investment in the EV sector. Between August 2022 and March 2023, leading EV manufacturers and battery producers announced a combined post-IRA investment of approximately $52 billion in North America’s EV supply chain. Around 50% of these investments focused on battery production, while EV manufacturing and battery components each accounted for about 20%.
The North America testing, inspection, and certification market is categorized based on sourcing type, service type, and end-user.
- Sourcing Type: The market is divided into in-house services and outsourced services.
- Service Type: It is classified into testing, inspection, and certification.
- End-User: Key sectors include consumer goods & retail, food & beverage, healthcare & pharmaceutical, energy & power, manufacturing & construction, and others.
- Geographical Segmentation: The market is analyzed across the US, Canada, and Mexico.
North America Testing, Inspection, And Certification Market Analysis: Competitive Landscape and Key Developments
ALS Limited, Applus Services SA, Bureau Veritas SA, DEKRA SE, DNV Group AS, Eurofins Scientific SE, Intertek Group Plc, SGS SA, TUV Rheinland AG, and TUV SUD AG are among the key North America testing, inspection, and certification market players profiled during this market study. In addition to these players, several other important North America testing, inspection, and certification market players were also studied and analyzed during this market research study to get a holistic view of both the North America testing, inspection, and certification market and it’s ecosystem. The leading North America testing, inspection, and certification market players focus on feature upgrades, expansion and diversification, collaboration, and acquisition strategies, which enable them to participate in new business opportunities. A few recent key North America testing, inspection, and certification market developments are listed below:
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
