Pre-Shipment Inspection Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2028

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Pre-Shipment Inspection Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2028

Status : September, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Pre-Shipment Inspection Market – Introduction

Pre-shipment inspection is an integral part of the supply chain management used in the quality control phase to ensure that the supply goods comply with the required standards. Effectiveness of the pre-shipment inspection systems help in mitigating the risks of spending a hefty amount on the imports.

Sales of pre-shipment inspection exceeded a value of US$ 11 Bn in 2018 and are anticipated to continue growing at a steady pace in the upcoming years. Rapid urbanization in the developing countries in parallel to the global reach of products and their increasing brand recall value is anticipated to deliver sustained growth opportunities to the pre-shipment inspection market. Shifting preferences of consumers for the superior quality of products with an increase in their spending capacity has encouraged the warehouse owners to employ reliable inspection methodologies for ensuring that only quality products reach to the end-users. This has generated a notable rise in the demand for pre-shipment inspection in the warehouses.

Pre-Shipment Inspection Market – Notable Developments

  • In August 2017, DEKRA completed the acquisition of MasterTest with a strategic plan to expand its base in Portugal. According to the company, the transaction holds plan for long-term growth to establish a network across Portugal by leveraging organic growth opportunities and through acquisitions.
  • In August 2018, Alchemy Systems acquired Intertek Group Plc to leverage the geographical reach and expertise in QA. The transaction is based on obtaining two-ways growth benefits for accelerating the growth of the company in the international market.
  • ALS announced the acquisition of Mav-Tech Inc. and Maverick Testing Laboratories, Inc. to expand the service line of the business in North America.

Some of the most prominent competitors operating in the competitive landscape of global pre-shipment inspection market include –

  • DNV GL AS
  • TUV SUD
  • TUV Rheinland
  • TUV Nord Group
  • Intertek Group Plc
  • Guangdong Inspection
  • Eurofins Scientific
  • Cotecna Inspection SA
  • CIS Commodity Inspection Services
  • Cayley Aerospace
  • Bureau Veritas
  • AsiaInspection
  • Asia Quality Focus
  • Applus+
  • ALS Limited
  • AIM Control Group

Applus+ Laboratories

The company was incorporated in 1907 and is based in Barcelona. Applus+ touts its extensive skill set for the development of technical solutions for amplifying the competitiveness of the product, foster innovation, and support the end-to-end product development process. The company received an award for Energy and Industry Division in Spain by UNDP.

TÜV Nord Group

TÜV Nord Group was established in 1869 and is headquartered at Hanover. The company acquired DMT GmbH & Co. KG, Verebus Engineering BV, Alter Technology Group, and RAG Bildung GmbH. The company works with a purpose to offer the networked world to its customers. It offers excellent technology and security services to address the crucial issues of the world.

AsiaInspection

AsiaInspection was founded in 2005 and is based in Hong Kong. The company has around 20 offices and functions in over 85 countries. The company recently modified its name to QIMA to ensure its geographical coverage. It is a leading QA and compliance provider performing Product Inspections, Supplier Audit Programs, and Lab Testing.

Pre-Shipment Inspection Market – Dynamics

Demand from Consumer Goods to Uphold the Growth of the Pre-Shipment Inspection Market

There has been an increase in the demand for premium quality goods on account of a rise in the disposable income of the consumers. As a result, the warehouse operators have been making conscious efforts to ensure that the required quality of goods reaches to the customers. This has generated a demand for outsourcing pre-shipment inspection services with the growing sales of consumer goods, which is predicted to hold significant growth prospects for the pre-shipment inspection market in the upcoming years.

Rise in the Import and Export Activities to Bolster the Growth of the Pre-Shipment Inspection Market

With the rise in the marketing campaigns, there has been an increase in the awareness pertaining to the product and its brand. Advent of streamlined distribution channel has fortified the sales prospects of electronics, luxury goods, and capital goods from another geographical location. Increasing incidences of faulty products have encouraged the warehouse owners to adopt effective pre-shipment inspection methodologies to offset the risk of paying heavy import cost. As a result, the popularity of the systems is on a surge for food and agriculture, medical and health sector, transportation, mining, and oil and gas applications, which is predicted to bode well for growth of the pre-shipment inspection market.

Pre-Shipment Inspection Market – Segmentation

The pre-shipment inspection market can be classified on the basis of:

  • EXIM
  • Sourcing Type
  • Application
  • Geography

Pre-Shipment Inspection Market Segmentation – By EXIM

Based on the EXIM, the pre-shipment inspection market can be fragmented into:

  • Export Goods
  • Import Goods

Pre-Shipment Inspection Market Segmentation – By Sourcing Type

On the basis of the sourcing type, the pre-shipment inspection market can be bifurcated into:

  • Outsources
  • In-house

Pre-Shipment Inspection Market Segmentation – By Application

Depending on the application, the pre-shipment inspection market can be segmented into:

  • Medical Devices and Life Sciences
  • Transportation
  • Oil, Gas and Petroleum
  • Construction and Infrastructure
  • Industrial and Manufacturing
  • Consumer Goods and Retail
  • Chemicals
  • Agriculture and Food

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?