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2025 Cargo Inspection Market Outlook: Key Indicators Shaping Growth Through 2034
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.What Will the Cargo Inspection Industry Market Size Be by 2025?
In recent years, the cargo inspection market has experienced consistent growth. The market size, which is projected to expand from $2.91 billion in 2024, is expected to increase to $3.02 billion in 2025 at a compound annual growth rate (CAGR) of 3.7%. The historic growth of the market was largely due to global trade expansion, strict regulatory standards, an increase in cross-border terrorism, concerns over drug trafficking and illicit trade, and the implementation of trade facilitation agreements.
What's the Long-Term Growth Forecast for the Cargo Inspection Market Size Through 2029?
The size of the cargo inspection market is predicted to increase gradually over the next couple of years. A compound annual growth rate (CAGR) of 4.9% would push the market's value to $3.65 billion by 2029. This growth in the forecasted period can be linked to repeated global security issues, the expansion of e-commerce logistics, efforts to combat counterfeiting, and the growth of air cargo transportation. Notable trends for the forecast period are advancements in sensor technologies, the application of artificial intelligence (AI), the introduction of blockchain in supply chains, partnerships between inspection agencies, and the use of a multi-modal inspection system.
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What Are the Key Growth Drivers Fueling the Cargo Inspection Market Expansion?
The cargo inspection market is poised for growth, powered by the anticipated increase in international trade. International trade is simply the commercial exchange of goods and services among businesses across different countries. In this context, cargo inspection plays a crucial role, helping authorities verify whether the contents of a particular shipment align with the specifications detailed in their sales contract. As per the World Trade Organization, a Switzerland-based intergovernmental group, global merchandise trade volumes are projected to rise by 2.6% in 2024 and further 3.3% in 2025. In 2024, export from Africa is slated to experience the fastest growth at 5.3%, outpacing other regions. This predicted uptick in international trade activity essentially fuels the expansion of the cargo inspection market.
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What Are the Key Trends Driving Cargo Inspection Market Growth?
Product innovation is increasingly becoming a major trend in the cargo inspection market. To maintain their market position, major corporations in the field are concentrating on creating new offerings. For example, in March 2022, the National Cargo Bureau, an American container inspection firm, introduced a web-based container inspection service through a dedicated database and access portal for remote use. This service enables customers to remotely inspect and evaluate container transport units with the help of NCB's team of surveyors. Through this innovation, media files and information from clients are instantaneously uploaded to the mobile platform.
How Is the Cargo Inspection Market Segmented?
The cargo inspection market covered in this report is segmented -
1) By Type: Marine, Air, Road
2) By Component: Software, Hardware, Service
3) By Industry: Mining Industry, Oil And Gas Industry, Agriculture Industry, Other Industries
Subsegments:
1) By Marine: Container Inspection, Vessel Inspection, Port Security Inspections
2) By Air: Baggage Inspection, Cargo Hold Inspection, Air Freight Inspection
3) By Road: Truck And Trailer Inspections, Checkpoint Inspections, Customs Inspections
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Which Companies Are Leading the Charge in Cargo Inspection Market Innovation?
Major companies operating in the cargo inspection market are SGS Group, Bureau Veritas SA, Intertek Group PLC, ALS Limited, Cotecna Inspection SA, Peterson and Control Union BV, Swiss Approval International GmbH, AIM Control Inspection Group of Companies, Cargo Inspections International Limited, Alex Stewart International Private Limited, CWM Survey & Inspection BV, Alfred H Knight International Limited, Cargo Inspectors and Superintendence Co. Pvt. Ltd., E.L. Johnson's Sons & Mowat Ltd., Wakefield Inspection Services Ltd., Marine Inspection LLC, WK Webster & Co. Ltd., Brookes Bell LLP, TUV Sud South Asia Pvt. Ltd., Saybolt LP, Core Laboratories, DNV GL AS, Eurofins Scientific SE, Camin Cargo Control Inc., Qtech Control Limited, Sandler & Travis Trade Advisory Services, SAI Global Assurance Services Inc., Bureau Cargo Inspection, Commodity Inspection Services, Lloyd's Inspection Agency, National Inspection Services, Intego Inspection Services, Pro QC International
Which Regions Are Leading the Global Cargo Inspection Market in Revenue?
North America was the largest region in the cargo inspection market analysis in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cargo inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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