Asia-Pacific Cargo Inspection Market, By Industry Type (Agriculture, Oil, Mining, Metal, Petrochemicals, Gas, Chemical, Medical Devices, Automotive, Machine Manufacturing, Others), Type (Grains, LPG, LNG, Coal, Iron Ore, RO-RO, Cruise, Fertilizers, Others), Offering (Product, Services), Inspection Type (Bunker Quantity Survey, Hold & Hatch Inspection Hold Survey, Draft Survey, Cargo Damage Survey, Cargo Lashing/ Handling/Logistics, Cargo Tally Verification Draft Survey, Cargo Survey, Pre-Shipment Inspection, Cargo Sampling (Oil), Cargo Measurement (Oil), Proof and Inspection of Asset, Pre-Vetting Inspection, Pre-Purchase Vessel Inspection, Vessel On/Off Hire Survey, Vessel Condition and Damage Survey, Cleanliness ISM Preparation Audit, Marine Warranty Survey Navigation Audit, Others), Technology (Non-Intrusive Inspection Technology, Nondestructive Evaluation (NDE) Technology), Port Types (Sea Ports, Inland Ports, Dry Ports, Warmwater Ports), Country (China, India, Japan, Indonesia, Australia, South Korea, Singapore, Thailand, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Cargo Inspection Market
Cargo inspection market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.7% in the forecast period of 2021 to 2028 and expected to reach USD 1,120,683.28 thousand by 2028. Rising government initiatives to amend the regulations for cargo inspection is acting as major factor for the growth of the market.
Cargo inspection protects the bulk commodity cargos by minimizing the risk of loss exposure significantly to the related parties involved while trading. It occurs at the time of transportation, store operations and custody transfer. Bulk commodities such as grains, crude oil, edible oil, chemical and more products are being measured, verified and analysed for shipment and quality and quantity inventory.
Growing number of seaborne trade balances has enhanced the demand for cargo inspection market. Rising concern for the cargo inspectors while operating in tanker is high that is acting as a restraint for the growth of the cargo inspection market. The rising investment in technology and container scanning is acting as an opportunity for the growth of the cargo inspection market. The unintended delay due to lockdown has also posed a challenge to the growth of the cargo inspection market.
Some of the factors which are driving the market are rising technological innovation in container scanner.
This cargo inspection market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Cargo Inspection Market Scope and Market Size
The cargo inspection market is segmented on the basis of industry type, type, offering, inspection type, technology and port types. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of industry type, the cargo inspection market is segmented into mining, metals, agriculture, oil, gas, petrochemicals, chemicals, machine manufacturing, automotive, medical devices and others. In 2021, agriculture industry dominates the overall market with maximum market share due to the increase in the export and import duties regarding agro-commodity in Asian countries.
- On the basis of type, the cargo inspection market is segmented into LNG, LPG, coal, iron ore, grains, fertilizers, Ro-Ro, cruise and others. In 2021, the grains segment accounts for the highest market share in type segment due to the rising health awareness among the consumers.
- On the basis of offering, the cargo inspection market is segmented into product and services. In 2021, the product segment holds the highest market share due to continuous technological advancements in 3D scanners, robotics and others to provide improved and accurate inspection services.
- On the basis of inspection type, the cargo inspection market is segmented into bunker quantity surveys, hold & hatch inspection hold survey, draft survey, cargo damage survey, cargo lashing/ handling/logistics, cargo tally verification draft survey, cargo survey, pre-shipment inspection, cargo sampling (oil), cargo measurement (oil), proof and inspection of asset, pre-vetting inspection, pre-purchase vessel inspection, vessel on/off hire survey, vessel condition and damage survey, cleanliness ISM preparation audit, marine warranty survey navigation audit and others. In 2021, bunker quantity surveys segment is dominating due to automation.
- On the basis of technology, the cargo inspection market is segmented into non-intrusive inspection technology and non-destructive evaluation (NDE) technology. In 2021, non-intrusive inspection technology segment holds the maximum market share as this is considered as the mature field of technology as it not only locates but also provides precise information regarding size, orientation and shape for that particular defect.
- On the basis of port types, the cargo inspection market is segmented into sea ports, inland ports, warm water ports and dry ports. In 2021, sea ports category dominates the port types segment due to increase in the preference of trading activities via sea ports.
Cargo Inspection Market Country Level Analysis
Cargo inspection market is analysed and market size information is provided by country, industry type, type, offering, inspection type, technology, and port types.
The countries covered in cargo inspection market report are China, India, Japan, Indonesia, Australia, South Korea, Singapore, Thailand, Malaysia, Philippines and Rest of Asia-Pacific.
Germany holds the largest market share in the region owing to factor such as rise in development for the sea trade along with rising infrastructural development with the wide services and offering by the regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Quality Assurance Commodity
Cargo inspection market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in cargo inspection and changes in regulatory scenarios with their support for the cargo inspection market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Cargo Inspection Market Share Analysis
Cargo inspection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific cargo inspection market.
The major players covered in the report are SGS SA, Bureau Veritas, Intertek Group plc, ALS Limited, Cotecna, Alex Stewart International, AHK Group Ltd, Peterson and Control Union, AIM Control Inspection Group of Companies, Cargo Inspections International Limited, Certispeceame, Wakefield Inspection Services, Marine Inspection LLC., Qtech Control Limited, CISCO, WK Webster., Brookes Bell LLP, TÜV SÜD, Hitachi, Ltd., Smiths Detection Group Ltd. (A Subsidiary of Smiths Group plc), Eurofins Scientific and among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of cargo inspection market.
For instance,
- In February 2021, TÜV SÜD was accredited for inspections and approval agency for unportable tanks by the U.S. Department of Transportation (DOT) with international regulations such as ADR/RID, IMDG Code and TPED. The approval helps the company in attracting more customers that will enhance the growth for the company.
- In October 2019, Peterson and Control Union improved Achilles FPAL verify audit program for the process involving the inspection of Quality, Health & Safety, Environment, Competence & Training practices for oil & gas operator. The company enhanced its efficiency and process for the operations, thus enhancing its services capabilities by maintaining consistently high standards
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for cargo inspection through expanded range of size.
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