The market is expected to reach USD 1,327.1 million by 2025 from USD 863.4 million in 2017 and is projected to grow at a CAGR of 6.29% in the forecast period of 2018 to 2025. Global Cargo Inspection market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Cargo inspection ensures the safety of people and sites, maintaining regulatory compliance of raw materials used in all phases of the process and providing services such as tank gauging, bunker inspection, atmospheric monitoring, tank cleanliness inspection, tanker lightering, offshore lightering cargo inspection, sample quality laboratory testing and investigation of cargo discrepancies. The renowned players in global cargo inspection market are
- Millennium Solutions
- Qtech Control Limited
- CERTISPEC Services Inc
- CWM Survey & Inspection BV
- AHK Group Ltd
- Peterson and Control Union
- Alex Stewart International
- Cargo Inspections International Limited
- AIM Control Group
- SWISS APPROVAL International
- Cotecna Inspection SA,
- Intertek Group plc,
- Bureau Veritas,
- CMA CGM,
- The Maersk Group,
- MSC Mediterranean Shipping Company S.A.,
- PALANPINA WORLD TRANSPORT (HOLDING) LTD.
The global cargo inspection market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of cargo inspection industry for global, Europe, North America, Asia Pacific and South America.
- In 2017, OMAX Corporation launched new protoMAX abrasive water jet which is applicable in cutting a material that 2’’ thick.
- In 2015, Hughes Pump introduced Ultrabar 30 triplex pump in waterjet machine for Offshore Oil & Gas, Manufacturing, Ship Maintenance and Contracting.
- The market is based on
- Product Type
- End User Industry
- Geographical Segments
- Based on product type, the market is segmented into
- Based on technology, the market is segmented into
- Pure waterjet cutting technology
- Abrasive waterjet cutting technology
- Based on applications, the market is segmented into
- Glass/metal art
- Fiberglass cutting
- Foam product cutting
- Based on end user industry, the market is segmented into
- Machine manufacturing
- Medical devices
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Market Drivers and Restraints:
- Increasing demand for implementation of automobile industry.
- Growing demand in the field of 3D cutting and job shops.
- Rising demand for water cutting machine in the electronic industry such as applicable in electrical enclosures and control panels.
- Rising demand in aerospace industry for cutting hard metals such as steel, titanium and glass.
- Distortion due to high cost of establishment.
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