The Global Pre-Shipment Market is forecast to reach USD 17.96 Billion by 2028, according to a new report by Reports and Data.
Pre-shipment of goods can be done at different stages before shipment such as quality control or consistency of goods, checking of goods and packaging. The Pre-shipment process is done to reduce the risk of poor quality and non-compliance goods, lessen product recalls and reduce the costs. When the goods have qualified pre-inspection and received a certificate, the sales of the good increases automatically.
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Further key findings from the report suggest
- In-House sourcing type holds the larger market share of 51% in the year 2020.
- In-house Pre-Shipment inspection means that the inspection is done by the manufacturers or companies own inspection team.
- Export Goods dominate the segment and is forecasted to grow with a higher annual growth rate of 5.4% by the year 2028. This is due to the rising demand for good quality products across various industries, which increases the demand for Pre-shipment inspection.
- It is generally mandatory for manufacturers to ensure that the goods have met the quality demanded by the consumer and ensure performance regulatory and technical safety.
- The Government of India has introduced compulsory Quality Control and Pre-Shipment Inspection for 90% of the items of export under one or the other system as per the Export (Quality Control & Pre-Shipment Inspection) Act, 1963. Chemicals are one of them, and they held a market share of 11% in the year 2020.
- Construction held a market share of 12% in the year 2020 whereas oil and gas held a market share of 11% in the year 2020.
- Europe is forecasted to grow with a CAGR of 5.4% during the forecast period. Presence of leading players such as Dekra, Intertek, Applus, Eurofins, and others are driving the market in the region.
Key companies profiled in the report include:
SGS, Bureau Veritas, Intertek, TUV SUD, Dekra, TUV Rheinland, UL, Eurofins Scientific, Cotecna, TUV Nord, Applus, ALS, DQS CFS, Asiainspection, among others.
Sourcing Type Outlook (Revenue, USD Billion; 2020-2028)
EXIM Outlook (Revenue, USD Billion; 2020-2028)
- Export Goods
- Import Goods
Application Outlook (Revenue, USD Billion; 2020-2028)
- Consumer Goods
- Oil and Gas
- Supply Chain
Based on Region market is segmented into:
- North America
- South America
- Middle East & Africa
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