Cargo Security Seals Market Size Worth $1.95 Billion By 2032 | CAGR: 5.3%

The global cargo security seals market size is expected to reach USD 1.95 billion by 2032, according to a new study by Polaris Market Research. The report “Cargo Security Seals Market Share, Size, Trends, Industry Analysis Report, By Substrate (Plastic, Metal, and Glass); By Type (Bolt seals, Cable seals, Tamper-evident seals, Barcoded seals, Others); By End-User; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Cargo services play a critical role in the global economy in order to facilitate the transfer of commodities and products from one location to another via a variety of transportation modes. Governments and companies are investing in the infrastructure needed to enable the transportation of products as the demand for cargo services keeps rising. Ensuring the safety and security of cargo is one of the key aspects fueling the demand for cargo security seals.

Every year, $30 billion worth of goods are stolen. Despite how much it costs, the actual cost of cargo theft is much lower. A transportation company's expenses increase each time a package is lost. They will not only lose the faith of their customers, but their earnings will also suffer as a result of increased customer service, hurried replacement deliveries, and higher insurance premiums. This is creating new growth potential for effective cargo security measures like seals in the future.

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Governments are stepping forward tremendously to ensure the safety of cargo services. For instance, instead of using the traditional method of padlocks & wire seals on freight trains, railways have begun using a GPS-enabled e-lock system as an evaluation program. These locks have GPS chips installed to track their location as well as the status of their closing and opening. The locks are unbreakable. Currently, a variety of industries, including e-commerce and FMCG, utilize electronic locks to secure the closed-body vehicles that carry their products on the roadways. Its package vans and freight wagons will be safer and more secure as a result of the change. This shows the rising emphasis on goods safety in transportation, which will further fuel the demand for cargo security seals in the coming years.

Cargo Security Seals Market Report Highlights

• The plastic segment is anticipated to witness the highest growth in the coming years due to its lightweight and cost-effectiveness.
• Bolt seals segment accounted for the largest market share owing to their higher security offering, which requires a cutter to open the seal.
• The Container Seals segment is projected to experience a larger revenue share due to the security concerns associated with international trade.
• North America is projected to register the largest growth rate in the study period owing to the prevalence of higher cargo theft rates.
• The global players include Acme Seals, American Casting, EnvoPak, Euroseal, Precintia, Shanghai JingFan Container Seal & Transport Security.

Polaris Market Research has segmented the cargo security seals market report based on material, product type, end use and region:

Cargo Security Seals, Material Outlook (Revenue - USD Billion, 2019 - 2032)

• Plastic
• Metal

Cargo Security Seals, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Bolt seals
• Cable seals
• Tamper-evident seals
• Barcoded seals
• Others

Cargo Security Seals, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Bulk Tankers
• Container Seals
• Drums
• Hatches
• Truck Seals
• Trailer Seals
• Rail Cars
• Others (Tote Boxes, Valves, etc.)

Cargo Security Seals, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Cargo Security Seals Market Report Scope