Asia-Pacific Construction Product Certification Market, By Product (Construction and Building Products, Power Generation and Energy Storage, Industrial and Hazardous Location Equipment, Information and Communications Technology, Lighting Products, Medical and Laboratory Equipment, Personal Protective Equipment, Tools and Outdoor Equipment and Others), Application (Insulation, Roofing, Exterior Siding, Interior Finishing and Others), End User (Industrial, Commercial and Residential), Country (China, India, Japan, South Korea, Australia & New Zealand, Hong Kong, Taiwan, Singapore, Indonesia, Thailand, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
The construction product certification market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 8.7% in the forecast period of 2021 to 2028 and expected to reach USD 11,158.03 million by 2028. Growing need to ensure product safety and performance attributes is a factor boosting in market growth.
The construction product certification is the process of certifying a product which indicates that the product has passed various different performance tests, endurance test and quality assurance tests which also meets qualification and eligibility components mentioned in contracts, regulations or specifications. Construction product certification process is conducted by various different regulatory bodies and accreditation bodies and also by a third party of a particular country. A product is verified through certification to comply with a specification and gets stamped with a unique specification number.
The safety issues related to the products design, implementation, installation and use of equipment in construction areas or locations have led the regulatory authorities to impose strict rules, regulations and standards at early stage which led to acquire various certifications and standards for the products which are acting as a major driver for the growth of the construction product certification market. The variations in the regulations and standards across different regions made difficult for the manufacturers to operate in the market of different countries acting as a major restraint for the growth of the construction product certification market. There has been an increasing demand for testing, inspection and certification (TIC) services owing to stringent standards and regulations imposed by government and other regulatory bodies and also increasing outsourcing TIC services adoption acting as a window of opportunity for the growth of the construction product certification market. The huge time required to acquire a certificate for a product is acting as a major challenge for the construction product certification market.
This construction product certification market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The construction product certification market is segmented on the basis of product, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the construction product certification market is segmented into construction and building products, power generation and energy storage, industrial and hazardous location equipment, information and communications technology, lighting products, medical and laboratory equipment, personal protective equipment, tools and outdoor equipment and others. In 2021, construction and building products category held larger share. This is mainly due to extreme focus on the safety and quality, surging need to comply with construction regulations, growing emphasis toward environment certification, encourage energy saving, and evaluating the sustainability for such products. Moreover, it includes wide number of individual products such as glass, plumbing and heating, wiring, lifts, and others, due to which construction and building products category is dominating.
- On the basis of application, the construction product certification market is segmented into insulation, roofing, exterior siding, interior finishing and others. In 2021, interior finishing category held larger share. This is mainly attributed to rising demand for specific interior finishing construction certification projects, and it also includes interior space elements such as door, ceiling, lightings, staircase, and more, due to which the segment is dominating the market. On the basis of end user, the construction product certification market is segmented into industrial, commercial and residential. In 2021, industrial category held larger share owing to factors such as high revenue projects along with longer duration, increasing growth of industrial sector, and it includes construction of factories, power plants, warehouses, which require high level of certified products with improved safety.
Asia-Pacific Construction Product Certification Market Country Level Analysis
The construction product certification market is analysed and market size information is provided by the country, product, application and end user as referenced above.
The countries covered in the Asia-Pacific construction product certification market report are China, India, South Korea, Australia & New Zealand, Hong Kong, Taiwan, Japan, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific.
China is capturing the largest market share and is expected to dominate the market, due to surging investment toward high-tech infrastructure, high population, focus toward product testing and certification, strong growth of building construction industry and boom in the manufacturing sector.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increased Safety Concerns is an Opportunity for Market Players, Resulting in Improved Market Growth
The construction product certification market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in construction product certification and changes in regulatory scenarios with their support for the construction product certification market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Construction Product Certification Market Share Analysis
The construction product certification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to construction product certification market.
The major players covered in the report are British Standards Institution, SGS SA, QVC Certification Services Pvt Ltd, RINA S.p.A., CSA Group, Intertek Group plc, DNV GL, Bureau Veritas, Eurofins Scientific, ALS Limited, DEKRA CERTIFICATION B.V., DEKRA CERTIFICATION B.V. Applus+, UL LLC, TÜV SÜD, and TÜV Rheinland among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of construction product certification market.
- In August 2018, Applus+ entered into a partnership with Asset Integrity Consultants (AIC) based in Australia. This partnership enabled the company to better meet consumers' demands and to deliver high-quality services. This has helped the company to enhance its offerings and customer base in the market.
- In May 2019, British Standards Institution launched a new Kitemark named BSI Kitemark for building hardware used in windows and door sets. This Kitemark was developed to assure manufacturers that the hardware has rigorously tested and will perform as it should when in place on the window or doors. This has helped the company to enhance its offerings and to grow in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for construction product certification market through expanded product range.