Market analysis and development forecasts for the years 2014-2018
We are pleased to present to you the Report TESTING, INSPECTION AND CERTIFICATION – market analysis and development forecasts for the years 2014 – 2018 prepared by the team of analysts of Equity Advisors.
According to our analyses the domestic TIC (testing, inspection and certification) market is worth 1.35 billion PLN and grows at an average rate of 8.9 percent annually. We expect that until 2018 the growth rate will be maintained on average annual level of 9.7 percent and will reach the value of 2.3 billion PLN in 2018.
Large corporations operating on the testing, inspection and certification market see their activity as care for customer business and customer support with regard to risk management. Considering the complex nature of services provided by companies from the industry and the fact that usually quality is a derivative of many factors, such a view most accurately reflects its character. This perspective also emphasizes the significance of such activities, which, due to increasing advancement of products introduced and present in the market, as well as higher consumer expectations, becomes more and more important. A positive factor for the development of this market is also growth in the importance and the specific character of the process of building reputation, as well as competition.
Growth of TIC market results from combinations of regulatory and economic factors. The increasing scope of production, especially food, is covered by strict standards of the European Union, which significantly affects the increase in the demand for TIC services. A considerable importance is also attributed to growing commercial trade and consumer pressure. Infrastructure investments planned for the years to come, in particular in the power and railway sector, represent a long-term demand factor that increases demand for raw materials, which, in turn determines demand for TIC services.
An additional factor, typical of the TIC market is growing interest in M&A transactions, which is significantly affected by the policy of global European companies, as well as the private equity activity. These phenomena, in the years to come, should be reflected in increased number of acquisition transactions among small and medium enterprises.
In our report, you will find analysis of the structure and the size of the TIC market with breakdown due to the type of performed tests. We have emphasized in it the main tendencies in particular sectors. In addition, selected companies – sector representatives – operating globally and locally have been presented.
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