The global cargo inspection market is projected to grow at a CAGR of 4.23% to reach US$1,997.215 million by 2024, from US$1,557.757 million in 2018. Increasing demand for transport infrastructure coupled with growing concerns regarding quality assurance of commodities is some of the major factors driving the demand for cargo inspection solutions. In addition, rising security concerns and efforts to curb the illegal sale and transport of goods through ports will further add to the growing demand for these solutions. However, the presence of stringent and complicated industry standards varying from region to region will restrict the growing demand for these solutions. The demand for these services is projected to grow at an impressive rate in the Asia Pacific region owing to increasing export-oriented manufacturing policies and the presence of favourable trade agreements in the region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global cargo inspection value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global cargo inspection market.
Major industry players profiled as part of the report are COMET Group, Bureau Veritas, Intertek Group PLC, ADANI, EBCO Systems, Cotecna Inspections, Leidos, and Varex Imaging Corporation among others.
The global cargo inspection market has been analyzed through the following segments:
By Industry Vertical
Oil and Gas
Middle East and Africa