Pre-Shipment Inspection Market Scope
Pre-shipment inspections include both Quantity and Quality site inspections. It is a procedure conducted before the shipment or transportation of products. This service is intended to use for manufacturing companies, agricultural products exporters, trading companies, final customers purchasing offices, food aid organizations, banks, and insurance companies. The pre-shipment inspection procedure can also 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. 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. Further, increasing incidents of product recalls, growing consumer spending and ongoing rapid urbanization in emerging markets is driving the Pre-Shipment Inspection market.
The market study is being classified by Type (Export Goods and Import Goods), by Application (Consumer Goods and Retail , Agriculture and Food , Chemicals , Construction and Infrastructure and Others) and major geographies with country level break-up. According to AMA, the Global Pre-Shipment Inspection market is expected to see growth rate of 5.04%
The Global Pre-Shipment Inspection market is fragmented with several players. These Prominent companies in the market include well-established, financially stable, and technically strong players that have been operating in the industry for several years and have diversified product portfolios, proprietary technologies, and strong distribution networks acquired through collaborations and acquisitions.
SGS (Switzerland), Bureau Veritas (France), Intertek (United Kingdom), DEKRA (Germany), TÜV SÜD (Germany), TUV Rheinland (India), UL LLC (United States), Eurofins Scientific (Luxembourg), Cotecna (India), TUV Nord (Germany) and Applus (Spain) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are CIS Commodity Inspection Services (Netherlands), DQS CFS (Germany), Cayley Aerospace (United States) and Guangdong Inspection (China).
AdvanceMarketAnalytics has segmented the market of Global Pre-Shipment Inspection market by Type, Application and Region.
On the basis of geography, the market of Pre-Shipment Inspection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sourcing, the sub-segment i.e. In-House will boost the Pre-Shipment Inspection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
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.
In May 2019, the General Administration of Customs of the People’s Republic of China has published a second list of approved pre-shipment inspection agencies for imported solid wastes that can be used as raw materials. and China’s General Administration of Customs, which is responsible for the supervision and management of pre-shipment inspection (PSI), will not designate inspection agencies to perform pre-shipment inspection but will implement records management in respect of the agencies. A third-party inspection agency should submit an application for filing to Chinese Customs before engaging in pre-shipment inspection.
- Significant Growth in Shipping Industry in Developed and Under-Developed Countries
- Rapid Urbanization in Emerging Market
- Upsurge in Counterfeiting and Piracy Activities
- Increasing Demand for Consumer Goods
- Increasing Outsourcing Activities to Third Party Service Providers
- Time Consuming Nature of Pre-Shipment Inspection Activities
- High Cost Services of Pre-Shipment Inspection Activities
Key Target AudienceRaw material and testing equipment suppliers, Research organizations, Original equipment manufacturers (OEMs), Technology standards organizations, forums, alliances, and associations, Technology investors, Analysts and strategic business planners, Government bodies, venture capitalists, and private equity firms, Testing, inspection, and certification market players and Exporters and importers
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