Fire Protection System Testing, Inspection, And Certification (TIC) Market worth $633 million by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 27, 2023 /PRNewswire/ -- The fire protection system testing, inspection, and certification (TIC) market is projected to grow from USD 533 million in 2023 to USD 633 million by 2028, registering a CAGR of 3.5% during the forecast period according to a new report by MarketsandMarkets™. Various factors, government regulations and industry standards are progressively tightening for fire protection systems, fueling the need for testing, inspection, and certification (TIC) services to guarantee compliance with the latest mandates. The rising adoption of intelligent fire protection systems, prized for their swift and effective fire detection and response capabilities, necessitates TIC providers to ensure their proper operation.
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Building automation trends have birthed integrated fire protection systems that collaborate with HVAC and security counterparts, demanding rigorous testing by TIC providers. Additionally, an escalating emphasis on sustainability is prompting TIC firms to offer services that aid clients in reducing environmental footprints. Further bolstering the fire protection system TIC market are expanding fire safety requirements in emerging economies, heightened awareness of fire safety, and a growing need for system maintenance and testing services. Consequently, TIC providers offering innovative solutions are poised for success in this evolving market.
By service type, the certification service records the highest growth rate during the forecast period.
The highest growth rate in certification services for Fire Protection System Testing, Inspection, and Certification (TIC) services can be attributed to the growing importance of stringent regulations, risk mitigation, insurance prerequisites, adherence to industry best practices, bolstering consumer confidence, market competition, global expansion, and technological advancements in fire protection systems. Certification serves as a crucial validation of safety and compliance, driving increased demand as businesses seek to meet evolving safety standards, reduce risks, and enhance their reputations, ultimately propelling the certification services segment to record the highest CAGR in the Fire Protection System TIC market.
Certification bodies issue product certificates or licenses to organizations, enabling them to display a mark of conformity on their product or issue a certificate indicating the product's conformity with specified requirements. In this way, consumers are assured that the product they are purchasing fulfils the set standards. Product certification offers companies a formal document that the product they offer has been tested by qualified personnel and adheres to codes and/or standards. Those seeking certification for their products must demonstrate that they have adequate quality control systems in place to maintain conformity of their products with the standards.
The sprinkler system is likely to record the highest growth rate between 2023 and 2028
During the forecast period, the Fire Protection System Testing, Inspection, and Certification (TIC) industry is expected to witness a substantial market share held by the sprinkler system segment. This dominance is driven by regulatory mandates, increased awareness of fire safety, technological advancements, and the need for certification to ensure compliance with safety standards and local fire codes, making sprinkler systems a focal point for TIC services in safeguarding lives and property.
A fire sprinkler system is a crucial component of fire protection systems, consisting of pipes and heat-sensitive sprinkler heads that activate and release water when exposed to high temperatures, effectively suppressing fires in buildings and safeguarding lives and property by providing rapid fire control and prevention of fire spread. A fire sprinkler system is a critical component of fire protection and safety in buildings and facilities. It consists of a network of pipes, water supply, and sprinkler heads strategically installed throughout a structure. These sprinkler heads are designed to automatically release water when they detect high temperatures, typically caused by a fire. Fire sprinkler systems are highly effective in suppressing and controlling fires, limiting their spread, and providing occupants with valuable time to evacuate or access firefighting equipment. They are widely used in residential, commercial, industrial, and institutional buildings to enhance fire safety and minimize property damage. Modern fire sprinkler systems are often connected to fire alarms and monitoring systems, further enhancing their efficiency and ensuring a rapid response to fire incidents. These systems can be categorized into wet sprinkler systems, dry sprinkler systems, pre-action sprinkler systems, deluge sprinklers, and others (foam water sprinkler systems and water spray sprinkler systems).
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North America is likely to account for the largest market share in the global fire protection system testing, inspection, and certification (TIC) market during the forecast period
North America traditionally held a prominent share in the global Fire Protection System Testing, Inspection, and Certification (TIC) market due to its strict regulatory environment, well-established industries, and heightened fire safety awareness. The region's mature industrial infrastructure, including manufacturing, healthcare, and commercial sectors, drove the demand for TIC services to ensure compliance and safety. While North America historically played a leading role, market dynamics can shift, and it's essential to verify the current market status through up-to-date research as regional market shares may have evolved since then.
SGS SA (Switzerland), Bureau Veritas (France), DEKRA (Germany), TÜV SÜD (Germany), and TÜV Rheinland (Germany), DNV GL (Norway), Intertek Group plc (UK), TÜV NORD Group (Germany), UL LLC (US), Eurofins Scientific (Luxembourg), Kiwa (Netherlands), APi National Service Group (APi NSG) (US), Applus+ (Spain), Element Materials Technology (UK), SAI Global Australia PTY Ltd (Australia), Lloyds Register Group Services Limited (UK), Warringtonfire (Cheshire), Rina S.p.A (Italy), BRE Group (UK), and The British Standards Institution (England) are the dominant companies in the fire protection system testing, inspection, and certification (TIC) companies.
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