Code: IMR1476 | Manufacturing & Const | Nov-2021 | 89 Pages |
In 2021, the Global TIC Market’s
size was valued at USD 13.1 billion and is estimated to reach USD 20.58 billion
by 2028 and is expected to be growing at a CAGR of 6.1 % throughout the
forecast period. In this report, 2021 has been taken as the base year while
2020 is the historical year. The forecast year for the report is 2028 to
approximate the size of the market for TIC.
Icon Market Research’s report on TIC
studies the past and current opportunities of growth and trends to get a clear
picture of the growth indicators of the market for the forecast period 2021 to
2028. The report also offers the revenue generated by the TIC market
considering 2020 as the historical year, 2021 as the base year, and 2028 as the
forecast year. The report also consists of the compound annual growth rate
(CAGR) for the TIC market over the forecast period.
Methodology
The methods used for collecting
information for the report involve 4 main activities. These activities help in
estimating the current size of the TIC market. Thorough secondary research was
conducted to collect information on the TIC market, such as new technologies
coming into the market, and components connected with this market. Then the
collected information was validated with experts from the Manufacturing and
Construction industry across all the value chains through primary researches.
Both top-down and bottom-up approaches were used for estimating the market
size.
The secondary research includes
collecting data from sources such as government publications such as
country-level Manufacturing and Construction associations and organizations,
World Bank, Eurostat, Organization for Economic Co-operation and Development
(OECD), and CDC; regulatory and corporate filings such as SEC filings, annual
reports, investor presentations, and business magazines, financial statements,
press releases, and research journals, free and paid manufacturing and
construction databases and trade, business, and professional associations. The
secondary data collected was then analyzed to predict the overall size of the
market which was later validated with primary research.
Thorough primary research was done
after getting a clear picture of the TIC market through secondary research.
Many market experts were interviewed for the primary research from both the
supply-side players and demand-side players and across four major regions,
namely, Europe, North America, Asia Oceania, and the Rest of the World. Apart
from the interviews, primary data was collected through mails, questionnaires,
and telephonic interviews.
Overview of
Report
The TIC market report provides information and
statistics on market shares, size, restraining factors, and driving factors for
the forecast period 2021 to 2028. It also mentions the role of main market
players in the manufacturing and construction industry. The report on TIC
market evaluates the value of the market report, keeping in mind the
application and regional segments, market share, and size while forecasting the
market for each product type and application of the TIC market in different
segments of the report. The research report also mentions some sections of the TIC
market including opportunities, growth, trend, size, demand, and technology
used by prominent players of the market. Then, it gives detailed profiles of
the key players as a part of the competitive landscape of the TIC market.
The study of the
report divides it into several sub-segments and represents the whole manufacturing
and construction industry. An estimation of the revenue generated by the entire
manufacturing and construction industry and its sub-segments are also provided
in the report. It decides the factors that affect the demand of the manufacturing
and construction industry rapidly, including methods of development, growth
networks, and the product model. The report also points out the greatest
prospects for the growth of the manufacturing and construction market such as
forecasting the growth of the market, the launch of new goods, and analysis of
the product demand, purchase decisions, several economic factors that are
important to determine the trend of TIC market, and the attractiveness of the
market. The report on the TIC market will help in assisting the stakeholders in
identifying high-potential customers, such as distributors and manufacturers.
Growth Mapping
The main aim of the
TIC report is to give the map of the growth for the TIC market that will help
in providing the clients with the required information for the formulation
strategies to meet their respective business goals. The report also provides
deep knowledge of the TIC for the previous year as well as for the forecast
years and what the CAGR level of the market is going to be. This report is a
synopsis of what the market conditions are going to be while also giving
information regarding the market’s definition, classifications, applications,
and engagements are. This report also aims to analyze the TIC market’s
developments including the market improvement, market position, and others
which are usually done by the prominent players and brands of the manufacturing
and construction industry. This report also consists of all the market drivers
and restraints which are obtained through SWOT analysis. The report also has
the CAGR values of the TIC market for the base years 2021, the historic year
2020, and forecast years 2021-2028.
Regional
Analysis
The TIC market report provides a study for more than 20 countries and their market players The report covers a regional and country-level analysis that covers North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market is deeply analyzed for each region, which helps in identifying the market trends for each region, growth opportunities, and restraining factors.
For the forecast year 2021-2028,
it has been estimated that China/ United states will the dominating market for TIC.
This region is expected to
see growth in the manufacturing and construction industry because of the increasing population,
increase in per capita income, and improvement in living standards. There has
been an increase in demand for comfort features and accelerates the growth of
the TIC market. The construction is the process of constructing while
manufacturing is the action of the verb to manufacture. The other factors which
are driving the growth of the TIC market include the development of marketing
analytics tools and firmly established existing players in the market. In
addition to this, government agencies, companies, third-party administrators,
etc. are channelizing their efforts to make customer-centric manufacturing and
construction products which will also contribute to the growth of the TIC
market in this region. Rising demand for barns and agricultural or industrial
buildings and even bridges, increased investment by the government, new and
advanced technology, and machinery, along with the improved marketing tactics
will likely cause the TIC market to grow substantially.
The Asia Pacific market is estimated to grow at the highest CAGR during
the forecast period (2021-2028). This growth is driven by the increasing
research activities, growing demand for manufacturing and construction, and an increasing number of initiatives by market
players for expanding their presence in the APAC, and higher adoption of TIC in
several APAC countries. Improvements in GDP per capita and
infrastructure development have urbanized the region to a greater extent turning
rural areas into urban areas. The sudden surge in the demand has caused the
cities to fall into unsustainable consumption models. The top key players in
the TIC market are located in the region. China and India are expected to offer significant growth
opportunities for players operating in the TIC market, owing to the growing
support from government bodies, increasing demand for new manufacturing
and construction technology
with special features, and the presence of less-stringent regulations and data
requirements (as compared to developed countries) in their respective
healthcare systems.
Competitive
Landscape
The report provides a competitive
landscape on both the quantitative as well as qualitative research of TIC
market. The report also provides detailed insights on the development methods
used by the key market players. The report offers deep research on the key
market players and details on the competitiveness of these players. The main
business strategies used by these players such as mergers and acquisitions
(M&A), collaborations, affiliations, and contracts are also and analyzed in
the report. For each competitor, the report studies their global presence,
service offerings, competitors, and specification. The main players covered by
the study on the global TIC market are: Intertek Group plc, Bureau Veritas,
UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, ALS
Limited, DEKRA SE, Applus+, and TUV SUD.
The Report
Provides Insights on The Following Pointers:
●
It gives a forecast analysis of
factors that are driving or restraining the development of the TIC market.
●
The report gives a seven-year
forecast value evaluated on the basis of the current market performance of the
manufacturing and construction industry.
●
It helps in understanding the main
segments of the products and their future.
●
The report gives a deep analysis
of changing competition in the market which keeps you ahead of your
competitors.
●
The report gives the market definition of the TIC market along with
the analysis of different factors influencing the market such as drivers,
opportunities, and restraints.
The Report Answers Questions Such As:
●
What is the potential opportunity for the TIC market?
●
What are the major drivers, restraints, and opportunities of the TIC
market?
●
What is the market share of the leading segments and sub-segments
of the TIC market in the forecast period (2021-2028)?
●
How did the TIC market evolve?
●
How each segment of the TIC market is expected to grow during the
forecast period?
●
What is the expected revenue to be generated by each of the
segments by the end of 2028?
●
What are the key development strategies implemented by the key
players to stand out in this TIC market?
●
What is the preferred business model used for building TIC?
●
Which area of application is expected to be the highest revenue
generator in the TIC market during the forecast period?
●
Which end-user segment is expected to be the highest revenue
generator in this industry during the forecast period?
●
What is the potential of TIC market in the emerging countries
during the forecast period?
Intertek Group plc
Bureau Veritas
UL LLC
SGS SA
Eurofins Scientific
The British Standards Institution
ALS Limited
DEKRA SE
Applus+
TUV SUD.