Controlled environment: The industry is poised for strong and stable growth due to strengthening economic conditions

In line with national trends, the Laboratory Testing Services industry in Texas has experienced healthy growth over the five years to 2017. Strengthening research and development activity has driven demand for industry services, as new products must be evaluated for safety, quality and other regulatory standards prior to sale. The industry is poised for strong and stable growth over the five years to 2022. The necessary nature of industry services, along with tightening government regulations regarding public health and safety, will continue to fuel demand for laboratory testing...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Strengthening economic activity in Texas will propel growth in corporate profit, encouraging businesses to invest in product development
  • Regulations governing the quality of building materials have become more stringent
  • The necessary nature of industry services will drive demand for laboratory testing
  • Industry Report - Starting a New Business Chapter

    Barriers to entry into the Laboratory Testing Services industry in Texas are high due to significant setup costs and stiff competition for limited contracts. The costs of setting up a testing laboratory are extremely high, and require specific and often expensive testing equipment. The cost of employing qualified staff is also significant. In 2017, the average wage for an industry employee in Texas is expected to reach $64,662. Potential entrants into this industry will require a significant amount of liquid capital considering that most new operators have not secured funding or contracts upon starting.Other barriers to entry stem from moderate regulations. In order to operate effectively, companies must meet a variety of compulsory standards. Add...purchase to read more.

    Additional Insights for the Laboratory Testing Services in Texas Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Laboratory Testing Services in Texas Industry are

  • Access to highly skilled workforce
  • Proximity to key markets
  • Recommendation/accreditation from authoritative source
  • IBISWorld analysts also discuss how external factors such as Research and development expenditure and Corporate profit in the Laboratory Testing Services in Texas industry impact industry performance..

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    What's in this report

    What is the Laboratory Testing Services in Texas Industry?

    Companies in this industry perform physical, chemical and other analytical testing for commercial purposes. Such testing may occur in a laboratory or an on-site facility (i.e. where the product is manufactured or developed). Most results from industry-led tests are checked against government regulations and environmental, industrial and product standards. This industry excludes medical and veterinary testing labs.

    Industry Products
  • Agriculture and food testing
  • Environmental testing
  • Product performance and safety testing
  • Product certification
  • Biological and chemical testing
  • Other testing
  • Geotechnical testing
  • Industry Activities
  • Acoustics and vibration testing
  • Biological testing
  • Electrical testing
  • Environmental testing
  • Providing forensic services
  • Geotechnical testing
  • Industrial testing
  • Mechanical testing
  • Product testing
  • Radiation testing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Research and development expenditure
  • Corporate profit
  • Consumer Spending in Texas
  • Value of private nonresidential construction in Texas
  • Total health expenditure in Texas

  • Current Performance
  • Capitalizing on growing demand
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Bright outlook
  • Industry landscape
  • Table: Laboratory Testing Services in Texas Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Laboratory Testing Services in Texas Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting
  • Water Supply & Irrigation Systems
  • Construction
  • Manufacturing
  • Baking Mix & Prepared Food Production
  • Generic Pharmaceutical Manufacturing
  • Engineering Services
  • Environmental Consulting

  • Key Selling Industries
  • Chemical Wholesaling
  • Glass Product Manufacturing
  • Inorganic Chemical Manufacturing
  • Laboratory Supply Wholesaling
  • Organic Chemical Manufacturing

  • Products & Services
  • Product performance and safety testing
  • Product certification
  • Geotechnical testing
  • Environmental testing
  • Agriculture and food testing
  • Biological and chemical testing
  • Other testing
  • Chart: Laboratory Testing Services in Texas Industry Products and Services Segmentation

  • Major Markets
  • Industrial product manufacturers
  • Consumer product manufacturers
  • Health, safety and environmental companies
  • Government
  • Food manufacturers
  • Pharmaceutical companies
  • Chart: Major Market Segmentation for the Laboratory Testing Services in Texas Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesDepreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Laboratory Testing Services in Texas

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Laboratory Testing Services in Texas Industry

  • Bureau Veritas SA, Intertek Group PLC, SGS SA, Terracon Consultants Inc., Underwriters Laboratories Inc.,
  • Table: Bureau Veritas SA - financial performance
  • Table: Intertek Group PLC - financial performance
  • Table: SGS SA - financial performance
  • Table: Terracon Consultants Inc. - financial performance
  • Table: Underwriters Laboratories Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Laboratory Testing Services in Texas Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Laboratory Testing Services in Texas Industry
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Consumer Spending in Texas (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A test that establishes the relationship between the values of quantities indicated by a measuring instrument and the corresponding values realized.
  • Certification
  • Confirmation that a product has passed a certain test.
  • Geotechnical Engineering
  • A category of engineering that uses the principles of soil and rock mechanics to evaluate subsurface conditions for the safety and risks of earthwork or foundation construction.
  • Outsource
  • To procure goods or services under contract with an outside supplier.
  • Research And Development (R&D)
  • Creative work undertaken by a company in order to increase knowledge, which can then be applied to developing a new product or improving an existing one.
  • What Our Customers Say

    Why buy this report?

    The Laboratory Testing Services in Texas industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Laboratory Testing Services in Texas:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Laboratory Testing Services in Texas market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Laboratory Testing Services in Texas, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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