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Dublin, June 28, 2021 (Global News Agency) – “Cargo Inspection Market-Forecast from 2021 to 2026” Report has been added to ResearchAndMarkets.com provide.
The global cargo inspection market is expected to grow at a compound annual growth rate of 5.24% during the forecast period, from US$1.6194.44 in 2019 to a market size of US$23,15.431 million in 2026.
Due to the increase in global freight trade, the market is expected to surge in the next few years. In addition, during the forecast period, the increase in cross-border trade, free trade agreements, and the urgent need to protect high-quality and high-value commodities and goods are expected to have a significant impact on overall market growth.
In addition, major global companies have been providing advanced and innovative cargo inspection services and solutions, which are expected to become a major factor in the overall market growth in the next few years.
For example, Intertek, as one of the major players in the market, provides cargo inspection services, and through independent testing and inspection to reduce and minimize the risks of trade in commodities and goods. The company helps protect high-value and high-quality commodities and greatly reduces the risk of loss for all parties involved.
Increase global trade in goods
Due to the increase and growth of global freight trade, the market is expected to surge in the next few years. According to data provided by the United Nations Conference on Trade and Development, maritime transport has become an important part of global trade and economy.
Approximately 80% of the world’s trade volume and more than 70% of the trade volume are carried out by sea and ocean, and are handled and managed by global ports. The total share of developing economies in seaborne trade imports has surged and has risen to approximately 65% in 2019. In addition, more than 40% of the loaded cargo and approximately 62% of the cargo is unloaded at Asian seaports. In 2019, the international transportation volume exceeded 11.1 billion tons. 7.9 billion tons of dry cargo. In recent years, the total trade share of dry goods has also increased.
It is expected that these trends will have positive development…
The full story on Benzinga.com
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