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Pre-Shipment Inspection Market by Sourcing Type, EXIM, Application And Geography - Global Forecast to 2023

Pre-Shipment Inspection Market: Global Forecast until 2023

  • February 2018
  • 159 pages
  • ID: 5312889
In this report:
The market for export goods was valued at USD ##.## billion in 2017 and is expected to reach USD ##.## billion by 2023, at a CAGR of ##.##% during the forecast period, while the market for import goods is expected to be worth USD ##.## billion by 2023, growing at a higher CAGR of ##.##% between 2018 and 2023.

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Pre-shipment inspection market is estimated to rise at a compound annual growth rate of ~5.0 percent between 2018 and 2023

The pre-shipment inspection market is forecasted to grow from ~$11.6B in 2018 to ~$14.8B by 2023, at a compound annual growth rate (CAGR) of ~5.0 percent between 2018 and 2023. Some of the drivers for this industry are the increasing consumer spending and ongoing quick urbanization in emerging industries, growing incidents of product recalls across the globe, and surging counterfeiting and piracy activities. The main restraint for this market increase is that pre-shipment inspection becomes counterproductive for import countries and their traders

In-house sourcing type recorded for a larger share of the pre-shipment inspection market in 2017

Earlier, manufacturers and institutions had to adhere to limited standards and regulations; therefrom, it was possible for firms to build their in-house inspection capabilities. In recent years, standards pertaining to human/user safety and environmental safety have increased and become mandatory for certain category of products. Nevertheless, this forecast is shifting to the growth in outsourcing pre-shipment inspection services to specialized third-party service providers as they drastically reduce the operational expenditure for manufacturers

Pre-shipment inspection market for agriculture and food application to grow at the highest compound annual growth rate (CAGR) during the estimate period

Rising mandates to assure the quality and improve the productivity of firms that supply food products (packaged and unpackaged) and changing regulations in the agriculture space across the globe would drive the adoption of pre-shipment inspection services by manufacturers of agricultural equipment

Asia-Pac is anticipated to be the quickest developing market for pre-shipment inspection services during the outlook period

Many economically advanced countries have their manufacturing units in the developing economies of Asia Pacific, especially in China and India (IN). These units are required to manufacture products in compliance with internationally accepted standards. Furthermore, domestic sectors in Asia-Pacific are increasing quickly because of the growing per capita income among the middle class.

Breakdown of the profile of primary members taking part:

• By Organization: Tier 1 - 52 %, Tier 2 - 14.0 percent, and Tier 3 - 34.0 percent

• By Description: C-suite executives - 49.0 percent, Directors - 28.0 percent, and Others - 23.0 percent

• By Area: North America continent - 42.0 percent, EU - 32.0 percent, Asia-Pac - 21.0 percent, and rest of the world - 5.0 percent

Segment Research

The study segments the pre-shipment inspection market report into sourcing type (in-house and outsourced), and EXIM (export goods and import goods). The market research also includes applications and offers the geographic forecast of the market size for various parts with regard to four main regions-North America, Europe (EU), Asia Pacific (APAC), and Rest of the globe.

Reasons to Buy the Report

The study would benefit the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the pre-shipment inspection market comprehensively and offers the closest approximations of the global market size and those of the subsegments across distinct applications and localities.

2. The analysis offers the in-depth study of the testing, inspection, and certification market with the help of competitive leadership mapping, and value chain study containing top firms in the sector and their relations in the ecosystem.

3. The market research benefits partners to apprehend the pulse of the sector and offers them information on the main market drivers, market restraints, opportunities, and alternatives.

4. This industry report would benefit partners to comprehend their players better and acquire business insights to improve their rank in the business sector. The competitive outlook section includes the competitor ecosystem, service developments, alliances, and mergers and acquisitions in the pre-shipment inspection market.

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