The Hydrogen Technology Testing, Inspection and Certification (TIC) Market Size is valued at USD 3.71 billion in 2023 and is predicted to reach USD 12.38 billion by the year 2031 at a 16.5% CAGR during the forecast period for 2024-2031.
Hydrogen technology testing, inspection, and certification (TIC) is the process of making sure hydrogen technologies satisfy regulatory, quality, and safety criteria. It covers assessing hydrogen generation, storage, and transportation systems for adherence to sector-specific norms and environmental rules. The market is expanding because of the increasing need for certification and testing procedures to guarantee the safety, efficiency, and performance of hydrogen fuel cell systems due to technological advancements in the field.
Additionally, there must be stringent adherence to regulations for fuel cells because they are becoming increasingly important in the energy and transportation industries. Furthermore, market participants in hydrogen technology TIC work with sectors including energy, transportation, and industry to guarantee that hydrogen systems are secure and up to code. The development and commercialization of hydrogen technologies on a global scale are supported by their critical testing, inspection, and certification services. Moreover, TIC services are in high demand because of the worldwide trend toward renewable energy sources and the advent of hydrogen-powered vehicles, which is fueling the hydrogen technology testing, inspection, and certification (TIC) market in the coming years.
However, the market expansion of the hydrogen technology testing, inspection, and certification (TIC) sector is impeded by factors such as high advanced technology costs, complicated manufacturing processes, and rising competition. Furthermore, the COVID-19 epidemic disrupted supply chains, curtailed manufacturing, and delayed projects, which slowed down the hydrogen technology testing, inspection, and certification (TIC) industry. However, the market is beating back the pandemic due to the increasing demand for hydrogen generation. The market growth potential can be further enhanced by the increasing sophistication of hydrogen storage, increased government funding for clean energy and production technologies as well as strict safety standards, which are all factors that could lead to opportunities in hydrogen technology testing, inspection, and certification (TIC) market.
Competitive Landscape
Some Major Key Players In The Hydrogen Technology Testing, Inspection and Certification (TIC) Market:
- SGS SA
- Bureau Veritas
- Intertek Group plc
- DEKRA
- TÜV SÜD
- DNV GL
- TÜV RHEINLAND
- Applus+
- TÜV NORD Group
- UL LLC
- Element Materials Technology
- Apave
- Kiwa
- VDE Testing And Certification Institute Gmbh
- Amspec Group
- Force Technology
- Rina S.P.A.
- LRGA Group Limited
- Ricardo
- Ballard Power Systems
- TWI Ltd.
- Bakerrisk
- Powertech Labs Inc.
- Resato
- AVL
- Other Market Players
Market Segmentation:
The hydrogen technology testing, inspection, and certification (TIC) market is segmented based on process, application, service type, and testing type. Based on the process, the market is segmented into generation, storage, and transportation/distribution. By application, the market is segmented into refining & chemicals, mobility, energy, and others. By service type, the market is segmented into testing, inspection, certification, and others. By testing type, the market is segmented into pressure cycle, leakage and tightness test, overpressure, burst, and flow test, hydrogen permeation and compatibility test, hydraulic test, environmental simulation test, electromagnetic compatibility test, and vibration test.
Based On The Process, The Generation Market Segment Is Accounted As A Major Contributor To The Hydrogen Technology Testing, Inspection, And Certification (TIC) Market.
The generation in the hydrogen technology testing, inspection, and certification (TIC) market is expected to hold a major global market share in 2023 because hydrogen is growing in favorability and more popular as a green energy choice. Moreover, technologies that can produce hydrogen are in great demand because of the growing interest in renewable energy sources by both governments and businesses. In order to guarantee trustworthy and long-lasting hydrogen energy solutions on a global scale, there is a growing demand for TIC services to conduct rigorous safety, efficiency, and compliance testing on hydrogen production, storage, and transportation, which are further factors driving the market’s expansion.
The Mobility Segment Witnessed Growth At A Rapid Rate.
The mobility segment is expanding rapidly in the hydrogen technology testing, inspection, and certification (TIC) market. This is owing to the increasing interest in fuel cell electric cars (FCEVs) and other vehicles fueled by hydrogen. Innovation in transportation is being propelled by government and industry investments in hydrogen mobility, which offers a sustainable alternative to fossil fuels. In addition, rigid TIC procedures are necessary to guarantee security, effectiveness, and conformity with hydrogen systems regulations, which is driving the growth of the mobility market.
In The Region, The Asia Pacific Hydrogen Technology Testing, Inspection And Certification (TIC) Market Holds A Significant Revenue Share.
The Asia Pacific hydrogen technology testing, inspection, and certification (TIC) market is expected to report the highest market revenue share. It can be attributed to major businesses embracing hydrogen technology for transportation, power generation, and industrial uses, strong government backing for renewable energy, and rising investments in hydrogen infrastructure. In addition, North America is projected to grow rapidly in the global hydrogen technology testing, inspection, and certification (TIC) market because of increasing funding for renewable energy, new government programs encouraging the use of hydrogen, and growing demand in the transportation and manufacturing industries, investing more in infrastructure, and promoting sustainability and energy efficiency.
Recent Developments:
- In August 2024, UL Solutions Inc., a world-renowned authority in applied safety science, inaugurated its North America Advanced Battery Laboratory in Auburn Hills, Michigan. This state-of-the-art facility is among the most comprehensive testing facilities in the United States for electric and hybrid vehicles and industrial batteries.
Hydrogen Technology Testing, Inspection and Certification (TIC) Market Report Scope
|
Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 3.71 Bn |
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Revenue Forecast In 2031 |
USD 12.38 Bn |
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Growth Rate CAGR |
CAGR of 16.5% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Process, Application, Service Type, And Testing Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
SGS SA, Bureau Veritas, Intertek Group plc, DEKRA, TÜV SÜD, DNV GL, TÜV RHEINLAND, Applus+, TÜV NORD Group, UL LLC, Element Materials Technology, Apave, Kiwa, VDE Testing and Certification Institute GmbH, Amspec Group, Force Technology, Rina S.P.A., LRGA Group Limited, Ricardo, Ballard Power Systems, TWI Ltd., Bakerrisk, Powertech Labs Inc., Resato, AVL, Other Market Players. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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