Asia Pacific Fire Testing Market Progresses for Huge Profits by 2027: Applus Services, SA, Bureau Veritas SA, Dekra, Element Materials Technology

Fire Testing market in Asia-Pacific is expected to grow from US$ 1.64 Bn in 2018 to US$ 3.08 Bn by the year 2027. This represents a CAGR of 7.6% from the year 2019 to 2027.

Several factors that are impacting the market as a whole the macroeconomic circumstances, which affect new constructions and correspondingly the new equipment and service installations. The construction sector is witnessing a decent growth rate in recent time. The trend is foreseen to continue over the years, thereby creating a huge space for commercial and industrial constructions. Governments of various countries are undertaking initiatives with a motive to support the construction industry. The growth in the construction of commercial buildings is anticipated to provide prosperous opportunities to the market to grow across the globe; thus, positively impacting the fire testing market.

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Some of the players present in the fire testing market are Applus Services, SA, Bureau Veritas SA, Dekra, Element Materials Technology, International Fire Consultants Group, Intertek Group plc, SGS SA, TUV SUD AG, UL LLC, United Technologies Corporation.

The fire testing industry encompasses a broad range of market players with focused competencies along with strong regional presence that offers industry-specific fire testing based services across the diverse industry verticals. For instance, some of the prominent end-user industries utilizing the services of fire testing are industrial & manufacturing, consumer goods & retail, aerospace & defense, energy & power, automotive, building & construction industries to name a few end-users. The fire testing collectively play a vital role in facilitating process transparency, minimizing resource exploitation, ensuring quality, and simultaneously promoting ethical business practices. The growing safety concerns and increasing construction activities are supporting the increasing demand of fire testing market.  The fire testing market is competitive in nature with the presence of some of the major players operating in the fire testing market.

Major Highlights Of The Report:

  • All-inclusive evaluation of the parent market
  • Evolution of significant market aspects
  • Industry-wide investigation of market segments
  • Assessment of market value and volume in past, present, and forecast years
  • Evaluation of market share
  • Study of niche industrial sectors
  • Tactical approaches of market leaders
  • Lucrative strategies to help companies strengthen their position in the market

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Currently, China is dominating the fire testing market in terms of installation, which in turn boosts the demand for the fire testing market in the region. Several multinationals operating in different sectors are targeting the Chinese market and opening their manufacturing facilities in the country. The presence of a robust manufacturing industry in the country, the demand for a fire testing market is anticipated to witness robust growth. GB standards are the Chinese national standards issued by the Standardization Administration of China (SAC), the Chinese National Committee of the IEC and ISO. The prefixed "GB" is a mandatory standard for fire testing. Whereas, recommended standards are prefixed "GB/T." GB standards are the basis for the product testing which products must undergo during the China Compulsory Certificate (CCC) certification. The various standards set for fire testing in China include Fire Test to Building material – Chinese Standard: GB 8624, GB/T 34749-2017, GB/T 9978.9-2008, GB/T 9978.8-2008, GB/T 9978.7-2008, GB/T 9978.6-2008, and others

As urbanization has increased, there have been increasing demands for commercial complexes, housing, and infrastructural constructions from the consumer segment. Also, the legacy and existing cabling infrastructure used in commercial buildings, offices, malls, and other confined places have proven to be incapable of handling the current capacities. A small occurrence of fire could lead to fatal results. In the urbanization era, with the rise in the number of constructions, care needs to be taken of human lives and property as well. With an increasing number of constructions, there has been an increasing number of fire incidents being reported daily across the globe. The fire causes could be many, and such fire losses have been significantly impacting the economy of countries around the world. Thus, the need for a robust cable infrastructure at these locations that do not pose any fire-related risks. These factors would further create a strong opportunity platform for the fire test service providers operating in the market.

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The research provides answers to the following key questions:

What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?

What are the key driving forces responsible for shaping the fate of the Asia-Pacific Fire Testing market during the forecast period?

Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Asia-Pacific Fire Testing market?

What are the prominent market trends influencing the development of the Asia-Pacific Fire Testing market across different regions?

What are the major threats and challenges likely to act as a barrier in the growth of the Asia-Pacific Fire Testing market?

What are the major opportunities the market leaders can rely on to gain success and profitability?

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Posted by on Thursday April 02 2020, 5:00 AM EDT. All trademarks acknowledged. Filed under Semiconductors. Comments and Trackbacks closed. Follow responses: RSS 2.0

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