The Report on Testing Laboratories contains key information used by Marketing Departments in many of the Fortune 1,000 companies and beyond. The report helps identify industry changes, trends, key players, and growth opportunities.
|Standard Report||Premium Report|
|Current State of the Industry|
|Market Size (industry trends)|
|Market Forecast (5-year projection)|
|Revenue per State|
|Salary & Compensation Statistics|
|Public Company Information|
|Key Private Companies|
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2017 Market Research Report on Testing Laboratories Industry
Current Research on the Testing Laboratories IndustryThis section provides answers to fundamental and critical questions about the industry:
- What is the total market size ($ millions)?
- What is the Testing Laboratories industry outlook?
- Has the market grown or declined?
- What is the market growth rate?
- Are long term forecasts positive or negative?
- What is the industry size and average company size?
- How many companies are in the industry?
Market Size & Industry StatisticsThe total U.S. market size for the Testing Laboratories industry: statistics cover all companies, both public and private. In addition to total revenue, the industry research provides details on employees, companies, and average firm size in the sector. Use this market information to research and analyze growth rates and the Testing Laboratories industry trends and market outlook based on quantitative research and economic data.
|Statistics||2011 2012 2013 2014 2015 2016|
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|Average Revenue Per Firm|
|Average Employees Per Firm|
Market Forecast - Testing Laboratories[PREMIUM]Market forecasts show the long term industry outlook & Testing Laboratories future growth trends. The following five-year forecast utilizes advanced economics and statistics to project both short-term and long-term market growth and outlook. The industry outlook can be used to set a strategy applicable to economic realities.
|Forecast / Industry Outlook||2017||2018||2019||2020||2021||2022|
|Market Forecast ($ millions)|
|Projected Industry Growth Rate (%)|
Product & Services BreakdownResearch products and services in the Testing Laboratories industry generating sales. Note that products are broken into categories with different levels of classification.
|Product Description||Number of Companies||Sales ($ millions)||Percent of Total Sales|
Testing Services (Physical Or Product), Excluding Medical And Veterinary Services
Testing Services - Agricultural
Testing Services - Food
Testing Services - Waste Testing Services (Include Solid And Hazardous Waste.)
Testing Services - Soil, Rock, And Sludge (Include Geotechnical Testing.)
Testing Services - Pharmaceutical, Medical Devices, And Personal Care Products
Testing Services - Construction Materials Testing And Inspection Services
Testing Services - Machinery And Equipment
Testing Services - Metallic And Non-Metallic Minerals And Products
Testing Services - Water
Testing Services - Air (Include Radon And Sick-Building Testing.)
Testing Services - Asbestos
Other Testing Services
Calibration Of Instruments And Reference Materials
Product Certification Services
Commercial Inspection Services
Consulting Services For Testing And Related Fields (Include Expert Witness Services.)
All Other Receipts
All Other Operating Receipts
U.S. Geographic Distribution: Revenue Statistics by StateMarket Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower market share than average.
Income Statement (Average Financial Metrics)Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.
|Industry Average||Percent of Sales|
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|Cost of Goods Sold|
|Pension, profit sharing plans, stock, annuity|
|Rent paid on business property|
|Domestic production activities deduction|
|Compensation of officers|
|Salaries and wages|
|Employee benefit programs|
|Taxes and Licenses|
|Other Operating Expenses|
|Total Operating Expenses|
|EBIT (Earnings Before Interest and Taxes)|
|Earnings Before Taxes|
Financial Ratio Analysis - Testing LaboratoriesFinancial ratio information can be used to benchmark how a company in the industry compares relative to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.
|Profitability & Valuation Ratios - Testing Laboratories||Industry Average|
|Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Testing Laboratories industry is performing.|
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
|Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
|Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Testing Laboratories measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.
|Liquidity Ratios - Testing Laboratories||Industry Average|
|Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.|
Measures a firm's ability to pay its debts over the next 12 months.
|Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.
|Efficiency Ratios - Key Performance Indicators||Industry Average|
|Measure how quickly products and services sell, and effectively collections policies are implemented.|
|Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
|Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.
Compensation & Salary Surveys for EmployeesCompensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.
|Title||Percent of Workforce||Bottom Quartile||Average (Median) Salary||Upper Quartile|
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|General and Operations Managers||3%|
|Architecture and Engineering Occupations||23%|
|Drafters, Engineering Technicians, and Mapping Technicians||9%|
|Engineering Technicians, Except Drafters||9%|
|Life, Physical, and Social Science Occupations||25%|
|Chemists and Materials Scientists||6%|
|Life, Physical, and Social Science Technicians||16%|
|Office and Administrative Support Occupations||13%|
|Other Production Occupations||11%|
|Inspectors, Testers, Sorters, Samplers, and Weighers||11%|
|Inspectors, Testers, Sorters, Samplers, and Weighers||11%|
Companies in Testing Laboratories and Similar Industries[PREMIUM]Testing Laboratories market research identifies top companies with the largest estimated market share. Information includes corporate earnings and public company ticker symbols where available.
Public Testing Laboratories Company NewsWeb scan for recent news about public companies. Testing Laboratories market research on key company news, and Testing Laboratories statistics.
The market size analysis identifies the overall sales data within the industry. Statistics break down facts about companies within the market.
Government Contracts Related to Testing LaboratoriesIn 2016, the federal government spent a total of $370,935,792 on Testing Laboratories. It has awarded 6,779 contracts to 1,308 companies, with an average value of $283,590 per company.
Top government vendors:
|Company||Federal Contracts||Total Award Amount|
Growth Opportunities / Competitive ThreatsCompanies in other industries may also sell similar products. Since there is an overlap in the customer base, there may be an opportunity for companies in Testing Laboratories to sell additional products/services offered by these adjacent industries. Alternatively, these industries may identify further products in this industry to target. Products most at risk are those with the highest profit margins and lowest barriers to entry.
The following industries are competing channels for sales of similar products/services.
|Competing Industry||Sales Relative to Testing Laboratories||Opportunity/Threat|
|Research & Development in the Physical, Engineering & Life Sciences|
|Custom Computer Programming & Software Development Services|
|Surveying & Mapping Services|
Since sales from Testing Laboratories are a small fraction compared to other industries selling Engineering Services, companies in the Testing Laboratories industry have the opportunity to expand their product offering to take share from these adjacent industries.
Engineering Services Product Sales Report
Segments classified within this market research reportThis market research report includes companies whose primary business is any of the following:
Testing laboratories (except medical, veterinary), Film badge testing (i.e., radiation testing) laboratories or services, Metallurgical testing laboratories or services, Hydrostatic testing laboratories or services, Radiation testing laboratories or services, Non-destructive testing laboratories or services, Electronic testing laboratories or services, Fire insurance underwriters' laboratories, Electrical testing laboratories or services, Radiography inspection services, Geotechnical testing laboratories or services, Biological (except medical, veterinary) testing laboratories or services, Seed testing laboratories or services, Forensic (except medical) laboratories or services, Environmental testing laboratories or services, Thermal testing laboratories or services, Mechanical testing laboratories or services, Acoustics testing laboratories or services, Vibration testing laboratories or services, X-ray inspection services, Laboratory testing (except medical, veterinary) services, Calibration and certification testing laboratories or services, Radiation dosimetry (i.e., Soil testing laboratories or services, Assaying services, Pollution testing (except automotive emissions testing) services, Industrial testing laboratories or services, Food testing laboratories or services, Automobile proving and testing grounds, Radiographic testing laboratories or services, Product testing laboratories or services, Radiographing welded joints on pipes and fittings, Radon testing laboratories or services, etc.