Cargo Inspection Market to Reach $3.9 Billion by 2030 - China Witnesses Robust 6.2% CAGR

DUBLIN, Jan. 17, 2024 /PRNewswire/ -- The "Cargo Inspection: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

The global Cargo Inspection market is set for continued growth, with projections indicating a climb from its current valuation of US$2.8 Billion to US$3.9 Billion by the year 2030. This growth trajectory, representing a steady CAGR of 4.1% during the period 2022-2030, highlights the increasing necessity of meticulous cargo inspection across diverse industries.

Among various segments, the Oil, Gas & Petrochemicals sector is expected to command considerable market share, achieving a 4.1% CAGR that culminates in a US$1.9 Billion value by the end of the forecast period. With the post-pandemic economy bolstering recovery, the Metals & Mining segment is also poised for notable expansion, anticipated at a 3.7% CAGR over the subsequent eight years.

Regionally, the United States has emerged as a significant market, estimated at $755.2 Million in 2022. However, China is capturing attention with a forecasted 6.2% CAGR leading to an $820 Million market by 2030, underscoring the nation's economic influence and the importance of cargo inspection services therein. Japan and Canada are also markets of interest, with expected growth rates of 2.5% and 3.2%, respectively, while within Europe, Germany stands out with a forecasted 3.1% CAGR.

In light of recent global challenges, including the Russia-Ukraine conflict and inflationary pressures, the importance of cargo inspection services has only been magnified—ensuring compliance with international trade regulations and safeguarding the movement of goods across disrupted supply chains.

Market Dynamics: A Peek into the Decade Ahead

• Increasing demand in the oil, gas, and petrochemicals sector for rigorous cargo inspection protocols.
• The impact of infrastructural development on the metals & mining market segment.
• Regional markets showcasing growth potential amidst global economic realignments.

Feature Highlights:

• Detailed competitor analysis featuring 42 prominent companies in the market landscape.
• Insightful coverage addressing critical global concerns and their impact on the industry.
• Strategic identification of key market presences globally, ranging from strong to trivial.

The findings and analyses presented in this overview underscore the vital role of the Cargo Inspection market in facilitating safe and compliant goods transfer across international borders. As industries and economies continue to integrate and bounce back in the post-pandemic world, the significance of these services remains unequivocally paramount.

A selection of companies mentioned in this report includes

• Aim Control Group
• Alex Stewart International (ASI)
• ALS Ltd.
• Brookes Bell LLC
• Bureau Veritas SA
• Camin Cargo Control Inc.
• Cargo Inspection Group
• Cargo Inspectors and Superintendence Co., Pvt., Ltd.
• Cotecna Inspection SA
• CWM Survey & Inspection BV
• E.L. Johnson's Sons & Mowat Ltd
• Intertek Group PLC
• Marine Inspection LLC.
• Peterson and Control Union
• Qtech Control Limited
• SGS SA
• Swiss Approval International
• Wakefield Inspection Services (Asia) Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/v8j4ia

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SOURCE Research and Markets