Pre-Shipment Inspection Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2028
Pre-Shipment Inspection Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2028
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
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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