New York, NY, May 24, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Pre-Shipment Inspection Market by Product Type (Export Goods and Import Goods), by Sourcing Type (In-House and Outsource), and by Application (Construction, Oil & Gas, Chemicals, Consumer Goods, Mining, Transportation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global pre-shipment inspection market was approximately USD 11.58 billion in 2018 and is expected to generate around USD 16.29 billion by 2025, at a CAGR of around 5% between 2019 and 2025.
Pre-shipment inspection is the inspection procedure before the shipment or transportation of products. The pre-shipment inspection procedure can be performed at various stages before shipment, such as checking all papers and documentation, quality control or consistency of goods, checking of goods, and packaging. Basically, the pre-shipment process is performed to minimize the risk of poor quality, defective, and non-compliance goods along with reducing the product recalls and shipment costs. The global pre-shipment inspection market is experiencing a significant growth rate in developed and developing countries. In order to reduce the number of defective products, the pre-inspection method is compulsory before shipment. This factor is driving the global pre-shipment inspection market in the present scenario. Moreover, urbanization has led to an increased demand for consumer goods. However, the time-consuming nature of the pre-inspection method may be a hindrance for the market growth in the upcoming years.
Browse through 42 Tables & 23 Figures spread over 110 Pages and in-depth TOC on “Global Pre-Shipment Inspection Market Size, Share 2018: Industry Type, Trends, Segments, Analysis and Forecast to 2025”.
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Based on sourcing type, the pre-shipment inspection market includes in-house and outsourced. The outsourced segment is expected to dominate the market in the future, as in-house inspection costs are generally higher than outsourced costs. On the basis of product type, the market is categorized into export goods and import goods. The export goods segment is expected to dominate the market in the years ahead, due to the stringent quality standards maintained related to the export of various goods. On the basis of application, the global pre-shipment inspection market comprises consumer goods, transportation, chemicals, oil and gas, construction, mining, and others. Consumer goods are likely to dominate the market globally in the upcoming years, owing to the growing acceptance of consumer goods and products among the people, courtesy to the rising per capita income.
The Asia Pacific region holds an extensive market share in the global pre-shipment inspection market, owing to the favorable trade laws of this region’s countries. Moreover, the rising dominance of the Asian countries in international trade is likely to positively impact the market development in the upcoming years. China is the world’s largest exporter of goods.
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Europe holds the second position in the global pre-shipment inspection market. This regional share can be mainly attributed to the presence of prominent market players across the region and the ongoing acquisitions, mergers, and strategic alliances. For instance, in December 2018, Bureau Veritas acquired ICTK Co., Ltd., which is a worldwide transaction and security solution provider serving about 200 or more clients. The acquisition proved beneficial in making good returns in transaction and security solutions.
Browse the full “Pre-Shipment Inspection Market by Product Type (Export Goods and Import Goods), by Sourcing Type (In-House and Outsource), and by Application (Construction, Oil & Gas, Chemicals, Consumer Goods, Mining, Transportation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/pre-shipment-inspection-market
The North American pre-shipment inspection market is expected to show modest growth in the future, mainly due to the increasing mandates and regulations regarding the shipment of consumer goods.
Some major players operating in the global pre-shipment inspection market include ALS Limited, Asia Quality Focus, Bureau Veritas Bureau Veritas, CIS Commodity Inspection Services, Guangdong Inspection, TÜV Nord Group, TUV SUD, IM Control, Applus+, AsiaInspection, Cayley Aerospace, Cotecna Inspection, Eurofins Scientific, Intertek Group, TÜV Rheinland, and DNV GL.
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This report segments the global pre-shipment inspection market into:
Global Pre-Shipment Inspection Market: Product Type Analysis
- Export Goods
- Import Goods
Global Pre-Shipment Inspection Market: Sourcing Type Analysis
- In-House
- Outsourced
Global Pre-Shipment Inspection Market: Application Analysis
- Construction
- Oil and Gas
- Mining
- Transportation
- Consumer Goods
- Chemicals
- Others
Global Pre-Shipment Inspection Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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