Thursday, July 18, 2019

Oversupply (Supply - Demand Gap) of Office Space in Riyadh is Expected to be Around 10% by 2023: Ken Research

Research Analysts at Ken Research in their latest publication Riyadh Office Market Outlook to 2023 - Improving Oversupply Environment Driven by Rise in Demand for Premium Office Space and Upcoming Completion of Smart City and Office Projectsbelieve that introducing premium offices, offering value added benefits, easing out the lease agreement will contribute to an increase in the total area of office space in Riyadh and would help in decrease of the supply-demand gap.



The office market of Riyadh is influenced by a number of factors such as location, commercial activities around the location, ease in commutation and special amenities. The supply and demand disparity in the market has further fuelled the occupancy rates to remain stable throughout 2018.

Emergence of International Companies: 100% foreign ownership of companies or properties in various industries, Low minimum capital requirement, ability for foreign investors to sponsor foreign employees and Tax incentives if the company is registered in certain “economic cities” located in the less developed provinces of KSA have relaxed the norms for international companies that are willing to enter Saudi Arabia. Therefore, making it easier for MNC’s to carry out business in Saudi Arabia.
Location Preferences: Locations such as King Fahd Road, Eastern Ring Road and Olaya streets are found to have higher occupancy rates because of the premium real estate projects and higher commercial activities available around those areas. There are various options for recreational activities making it likeable for the employees. These regions are also well connected to all parts of the capital city.

Al Raidah Digital City (RDC, formally ITCC) continues to gain customers as a result of the restricted pipeline of Grade-A space with occupancy standing at 95% following strong interest from both public and private occupiers. However, the occupancy rate of ITCC will suffer after KAFD handovers remaining stocks in the upcoming years.

Eastern Riyadh is observed as the most attractive area for middle income population and it benefits from its connectivity to central Riyadh. This region of Riyadh can be utilized for office purposes as the sale prices are lower in the East of Riyadh along with potential absorption for new developments thus, indicating strong demand for this area.

North of Riyadh is evaluated with highest sale prices along highest absorption rates for office spaces including government and private firms owing to better infrastructure and the completion of a number of high profile projects for instance, KAFD, Rafal Tower, and PNU. This region also witnesses the co-working culture quite abundantly.

Western Riyadh is the neighbourhood for the city’s High Net worth Individuals’ (HNWIs), particularly in districts such as Khozama and Nakheel. Additionally, upcoming districts in the Western region include Laban, which comprises basically of a very few office infrastructural development catering to unorganized sector only. Low limited developer activities were observed in this region.

Key Segments Covered:
Type of Office Units
Premium
Grade A
Grade B
Others
Region
Northern Riyadh
Central Riyadh
Eastern Riyadh
Western Riyadh
Southern Riyadh

Key Target Aud.ience:
Real Estate Developers
Third Party Real Estate Companies
Independent Architects
Government Associations
Government Agencies
Independent Investors
Real Estate Consulting Companies

Time Period Captured in the Report:
Historical Period – 2013-2018
Forecast Period – 2019-2023

Office Project Case Studies Covered:
Home Office
The Elite Center
Motoon Commercial Towers
The Cube
Aknaz Center

Keywords:-
Riyadh Office Market
Riyadh Office Market Research
Riyadh Office Market Research Report
Riyadh Office Market Overview
Riyadh Office Market Trends
Riyadh Office Industry Research Report
Riyadh Office Market Sales
Riyadh Real Estate Market
Assessment of Office Market in Riyadh
Office Projects in Riyadh
Office Projects in Eastern Riyadh
Office Project Development in Riyadh
Current Status of Riyadh Office Market
Riyadh City Review
Factors Affecting Riyadh Office Market

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To Drive Global Hydroxyapatite-coated Femoral Components Market over the Forecast Period: Ken Research

Hydroxyapatite-coated femoral components define as hard tissue implant material coated by hydroxyapatite (HA) on femur components with titanium as a base and physically or chemically. HA is a naturally mineral form of calcium apatite. The coating is plasma-sprayed which is biocompatible and has osteoconductive properties contributing to early fixation of total joint prostheses. This coating enhances endosteal bone in growth to prosthesis, consequently improving the stability of femoral stem & resulting in better clinical or radiological outcomes. HA coated femoral components are used in total hip arthroplasty (THA). They are also used in various clinical dental practices for instance the reconstruction of periodontal bone defects; filling bone defects after apicoectomy, after cystectomy, and after the loss of dental implants; and mounting the thickness of atrophic alveolar ridges. It improves implant in-growth & long-term stability with the components exhibiting preferable bone attachment on micro textured areas & little bone on the smoother areas. The coating microstructure are different between three coatings which persists to be prosthesis surface, ranging from fully crystalline coatings made with vacuum plasma spraying to less crystalline coatings pretend by air plasma spraying.

The major benefits includes the attainment of early stability, accelerated bone on growth of the surface of prosthesis are further reduced as micro-motion of the prosthesis in early post-operative period. Apart from benefits, few of the challenges impacting the market include potential for delamination and high cost of the HA coating, which results in third-body wear of polyethylene acetabular cup or subsequent osteolysis &loosening of the prosthesis.
According to study, “Global Hydroxyapatite-coated Femoral Components Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” key companies currently operating in the global hydroxyapatite-coated femoral components market areZimmer Biomet, Nano Interface Technology, Stryker, Smith & Nephew, DePuy Synthes, Exactech, MicroPort, Kycera Medical. The key vendors completely focus over the improvement in the ground breaking technologies and listening to the consumer’s preferences; which directs to the vast & continuous increase in market growth rate.
Based on type, globalhydroxyapatite-coated femoral components market is segmented into revision and primary. Based on coating technique, market is split into sputter coating, dips coating, hot pressing & hot isostatic pressing coating, pulsed laser deposition coating, thermal spraying coating, electrophoretic deposition coating and sol-gel coating. Based on end-users, market is categorized into clinic and hospitals.
The global hydroxyapatite-coated femoral components market is driven by growing demand for implants, followed by continuous research & development (R&D) activities to boost the applicability of hap in the medical industry, rising disposable income and rise in geriatric population. However, unmet performance benchmark & increasing popularity of bioresorbable composites and unfavorable healthcare reforms are expected to remain hampering factors of the market. In addition, easy availability of raw materials and growing healthcare industry are few of the areas providing the major opportunity to the market.
In 2019, value of global hydroxyapatite-coated femoral components market is reached at US $1110 million and it is predicted that it will be reached at US $1600 million, by 2024. It is estimated that the over the forecast period of market to be bright due to rapid growth in the medical tourism, followed by rapid developing infrastructure of the medical sector and increasing awareness among masses associated with the cost-effective treatments.
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Augmenting Trends In The Facility Management Services Market Outlook: Ken Research

The entire insights if the Facility Management Market is exceedingly presumed and richest market along with the effective development in the infrastructure and technologies around the globe. Not only has this, but the Facility Management Industry Research Reports also has been witnessed the significant advancements in the effective utilization of the technologies as such industry involve the high amount of transactions with the series of a broad variety of documents. Nevertheless, the enormous improvements in the technology resulting in significant public services between the seller and the purchaser. Furthermore, the potential players in the facility management market is rolling an efficient role by doing enormous developments in the technologies of this market and leading the effective growth by introducing the e-commerce platform which is delivering the profitable services and proved to be benefitted for both the seller and buyer which is further effective for gaining the highest market share around the globe.
Additionally, the growth of the facility management market supported by the higher FDI inflows in the respective region, the public sector outsourcing, cost control measures, the greater requirement from the end-user segments, significant advancements in the technology, speedy urbanization, along with the growing demand for the residential spaces in the respective region, wherein the market players gained to the requirement of the consumers for both hard and soft services.
The clients in the market exceedingly price-sensitive and a shortage of consciousness related to the need of the facility management services has resulted in the lower penetration of such services. The facility management services are significantly utilized by both local companies and MNCs in the respective regions.
Nonetheless, it is predicted that the housekeeping and security are the major required soft services in Egypt and an increasing number of the commercial, residential and industrial projects to help the urbanization plan of the region is fueling the requirement for the facility management services in Egypt.
However, the Australia Soft Facility Management Market is at the matured platform and in terms of revenue has augmented at a positive CAGR during the period of 2013-2018. This growth of Facility Management in Australia was supported by the public sector outsourcing, the effective increase in the demand from many end-user segments, effective acceptance of sustainable practices and technological advanced and several others. Whereas, in Australia the local corporations usually, prefer the single and bundled services owing to their small scale of functions whereas the MNCs prefer the integrated Facility Management services.
For instance, the Vietnamese Commercial facility management services market is abstemiously concentrated in nature. In 2018, JLL is the market leader and has the foremost market share in the Facility Management market in Vietnam on the basis of revenue. In addition, in Vietnam, it is predicted that the requirement for both soft and hard services will grow principally owing to the growth in the Government outsourcing with Public-Private Partnerships (PPP) and Build operate transfer (BOT). The significant growth in the residential, commercial, retail, industrial and infrastructure segments’ spending will further augment the requirement of facility management services. Therefore, in the near future, it is predicted that the market of facility management will increase across the globe more enormously over the coming decades.

Increase in Demand for Mobility Coupled with Rise in Consumer Awareness is Set to Drive Global Automotive Equipment Leasing Market over the Forecast Period: Ken Research

According to study, “Automotive Equipment Leasing Global Market” the key companies operating in the global automotive equipment leasing market are United Rental, Blue line Rental, Sunbelt Rental, Home Depot Rentals, H&E Equipment Services, Enterprise Holdings, The Daimler, Hertz Corporation, Avis Budget, Volkswagen Leasing GmbH. Most of the key companies are using some technologies such as big data to improve customer service and enhance vehicle life. Big data is a large amount of data that can be analyzed to gain insights & drive decision making.



Automotive equipment leasing is a cost effective or lucrative solution for small auto repair shops as well as large car dealerships. Leasing is used as a key process to impel electric vehicle sales, especially in developed markets. Leasing provides newest equipment and latest technologies. It is used for a fixed period of time at an agreed amount of money for the lease. Automotive equipment lease is classified as crankshaft balancers, pipe blenders, alignment machines, frame machines, diagnostic equipment, wheel balancers, paint booths, A/C service equipment, software (administrative and/or estimating), point-of-sale equipment, brake lathes, tire changers, automotive lifts, spot welders and pneumatic tools etc. It offers advantages to both sellers and buyers. Leasing preserve the most modern equipment and provide the latest technologies.

The key benefits are included zero down payments, keep equipment up-to-date, quick budget approval, ability to include extra costs in lease (training and software & installation), avoid paying for things that won’t use, provide opportunity for tax benefits and Keep credit lines open. Some examples of leasing solutions are vehicle lifts, wheel balancers, tire changer, wheel alignment, jacks & hoists, brake & drum lathes, automotive diagnostic equipment, frame straighteners and engine dynamo meters.

Based on type of leases, global automotive equipment leasing market is segmented into long term or capital leases and operating leases. Long-term or capital leases are non-cancelable leases, also known as financial leases or full payout while operating leases are cancelable or short-term leases. Based on value of equipment leased, market is segmented into large ticket ($2 million), medium ticket and small ticket ($100,000). Based on type of product, market is segmented into passenger car rental, utility trailer, truck, and RV (Recreational Vehicle) rental & leasing and passenger car leasing.

The automotive equipment leasing market is driven by rise in consumer awareness & growth in the used car market, followed by emerge in markets growth, increase in demand for leasing, rise in disposable income, increase in demand for mobility, and growing popularity of e-commerce, electric vehicles, and technological advances. However, growing popularity of on-demand taxi services and customer service & transparency may impact the market. The on-demand taxi service providers provide cost-effective and efficient mobility services with a mobile app for instance Uber, Lyft, Ola, Hailo, Didi Dache, Grab Taxi, and Gett. Moreover, an increase in use of Internet of Things or IoT technology for maintenance & management of fleets is a major trend for the market. IoT technology is a network of internet connected objects which are able to collect or exchange data with embedded sensors.

In upcoming years, it is expected that the global automotive equipment leasing market will be reached at a fast pace because of rise in technological innovations.

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Rise in Geriatric Population Followed by Increase in Prevalence of Chronic Disease is Set to Drive the Global Adhesion Barrier Market Over the Forecast Period: Ken Research

An adhesion barrier is a medical implant which is used for healing coronary artery after the cardiovascular surgeries. Adhesion barrier are made from oxidized regenerated cellulose, expanded polyterafluorethylene, sodium hylauronate, and carboxymethlcellulose. These barrier act as a physical films, gels, fabrics, or other materials applied between coatings of tissues at the end of a surgery before the slit site is closed. The formation of adhesion can cause infertility, chronic pain, and bowel obstructions are some of the major risks associated during the surgery. The abdominal surgery gives rise to adhesions in large amounts compared to other surgeries.

According to study, “Global Adhesion Barrier Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” some of the key companies operating in the global adhesion barrier market are BaxterInternational Inc., Integra Lifesciences Holdings Corp., Johnson & Johnson (J&J), Medtronic, Sanofi Group, C. R. Bard, Becton dickinson and company, Getinge, Yishengtang, Haohai Biological, Atrium Medical Corp., MAST Biosurgery, Singclean, Anika Therapeutics, Hangzhou Singclean Medical Products Co., Ltd., FzioMed Inc. All the key players are investing on research and development (R&D) for improving adhesion barriers products producing better results.
Based on product, the global adhesion barrier market is segmented into natural adhesion barriers and synthetic adhesion barrier. The natural adhesion barriers include fibrin and collagen & protein and thesynthetic adhesion barriers primarily include regenerated cellulose, hyaluronic acid, polyethylene glycol and others. SprayGel and SprayShield are most commonly used adhesion barriers. The use of Polyethylene glycol based adhesion barrier is expected to register the fast growth over the forecast period owing to properties of biocompatibility & absorbability.
Based on the formulation, market is segmented into gel, film (GynecareInterceed, Seprafilm and Epifilm) or mesh and liquid (Adept and Bio-Gide Perio). The adhesion barrier gels are composed of sodium carboxy methylcellulose and polyethylene oxide, with the protective covering. The use of gels prevents the configuration of post-surgical intrauterine adhesions, some of the gel used as the adhesion barriers are Betamix, DYNAVISC, and Oxiplex/AP. The use of liquid form in adhesion barriers are usually made of high molecular glucose polymers, for instance Icodextrin, which prevents the internal tissue surfaces & organ from adhering to each other during or post-surgery. Based on the application, market is segmented into orthopedic surgeries, gynecological surgeries, cardiovascular surgeries, abdominal general surgeries, urological surgeries, neurological surgeries and others.
The global adhesion barrier market is primarily driven by the rise in geriatric population followed by the increase in prevalence of chronic diseases, and rise in sports-related injuries. However, reluctance towards the use of adhesion barriers among surgeons is one of the biggest factors impacting the growth of market. Moreover, major growth of the market is expected to arise from untapped emerging markets.
Increase over the health concerns have made patients attentive for the use of better healthcare options with the use of advanced care techniques are expected to enhance the global adhesion market over the forecast period. North American region is expected to witness considerable growth of adhesion barrier market owing to rise in demand of technologically advanced healthcare facilities. The Asia-Pacific region is also expected to witness substantial growth owing to increase in population. In 2019, the value of global adhesion barrier market reached at US $820 million and is projected to reach at US $1,310 million, by 2024.
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Wednesday, July 17, 2019

Malaysia Online Advertising Market Outlook to 2023: Ken Research

The report titled “Malaysia Online Advertising Market Outlook to 2023 - By Medium (Desktop, Mobile), By Type (Search Ads, Social Media Ads, Video Ads, Banner Ads, Online Classifieds and others), By Sectors (FMCG, Entertainment & Media, BFSI, Automotive, Retail, Healthcare and others) and By Models (Cost Per Click, Cost Per Mile and Cost Per Action)” covers online advertising spent, market segmentation by medium of advertising (desktop and mobile), by type of advertising (search advertising, social advertising, video advertising, banner advertising, online classifieds and others), by sectors (FMCG, Entertainment & Media, BFSI, automotive, E-commerce/Retail, Healthcare and others), by models (Cost per Mile, Cost per Click and Cost per Action). The report also covers emerging growth drivers and trends, issues and challenges; customer pain points and decision making parameters and competitive landscape of players in the market with special focus on Omnicom, IPG Medibrands, Publicis, Dentsu, Group M  and others. The report also explores the digital customer profile in Malaysia, future outlook & projections along with analyst recommendation & macroeconomic variables highlighting the major opportunities & cautions to the reader.

The key target audience of the report would be various advertising agencies, advertising platforms, investors and others. This report will particularly help the readers to identify the ongoing trends in the industry and anticipated growth in the future depending upon changing industry dynamics in upcoming years.

Malaysia Online Advertising Market Summary
Market Overview: Traditional medium for advertisement has had a majority share in Malaysia owing to its early evolution along with the ease & expertise gained by the workforce over time. These include ads run primarily through television, radio and print media (newspaper and magazines) and out of home advertising. The fast and rapidly evolving pace of Information Technology has enabled online advertisement to become one of the most popular channels of communication in the country. Malaysia has strong supportive internet infrastructure including fast internet’s speed, user-friendliness, low cost and convenience offered which has contributed to the further development of online marketing industry. Malaysia Online Advertising Market is at the growth stage witnessing an intense competition amongst advertising agencies. With onset of internet & social media popularity, companies realized tremendous online viewership hence, transited towards the online mode ever since 2000’s. With the advent of digitization, companies have now realized the benefits of advertising online especially on Smartphones. The total number of internet users has increased considerably during the review period. The digital advertising landscape is developing at an astonishing pace as media proliferation and technology are together yielding newer ways of connecting with consumers. The market still lacks the right types of tools and performance metrics to measure the success of the campaign. Online advertising spent is expected to witness sound growth at a CAGR of around 29% during the revenue period 2013-2018.

Market Segmentation
By Medium (Desktop and Mobile)
Pictures and videos can make an online advertisements appear more eye-catching to the consumers. With the advent of video platforms like Netflix and Viu, there has been an increase in consumption of video content on Smartphones causing a shift of viewers from TV media. In the past, desktop dominated the market owing to better resolution of the advertisements and bigger screen. Additionally, with increased affordability, the ease of carrying and the internet accessibility of smart phones have caused a shift in the medium of operation of internet. Although the country still lags in the affordability of Internet plans, there is rapid increase in smart phone penetration in the country. Mobile advertising is now preferred by Advertisers and have led the market share in 2018.

By Sectors/Industries (FMCG, Healthcare, Entertainment & Media, Automotive, BFSI and Others)
Retail E-commerce is the top sector which spends ample budget on digital advertising owing to the need to target specific customers followed by the Travel which has a significant share in online advertisement spending in the country owing to increasing awareness by government to promote tourism in country. FMCG also saw an increase in advertising spend due to the increase in number of international brands in the market and their need to maintain a higher visibility. Healthcare sector is coming up with innovative medical services and need to raise awareness among consumers and is growing slow owing to the restrictions on advertising in the sector. Automotive and Banking services also accounted for a considerable market share in the digital advertising market spending in Malaysia.

By Pricing Models (Cost per Mile (CPM), Cost per Click (CPC) & Cost per Action (CPA)
The CPC model was being widely used by publishers in Malaysia. The CPA model is going to overtake the CPC model with the steady growth of social media ads & video ads as new players are entering the market preferring CPA. The model converts leads into sales and is highly result driven. On the other hand, CPM is considered to be a medium just to spread awareness and hence has a considerable share in 2018.

By Types of Advertising (Banner, Video, Search, Social Media and Online Classified & Others Advertising)
Among the five types of digital advertising, social media ads have gathered the maximum market share in 2018 due to the higher usage of social media for the various activities. In social media, Facebook accounts for the maximum user penetration followed by Instagram, YouTube, and Google. Search media advertising ranks second due to the increasing e commerce in the country where Malaysians prefer to search before they buy. Video advertising has gradually increased in the last five years whereas banner and online classified advertising have seen a slight decline in this period in terms of relative share.

Competitive Landscape: Companies in Malaysia have been introducing innovative methods of capturing their target audience while the old firms are expanding their foothold into this space with the help of the existing data they possess. Companies compete on the basis of promotion strategies, their networking, major clientele and the platforms used for digital advertising. Some of the major players operating within this segment include Omnicom, IPG Medibrands, Publicis, Dentsu, Group M and others. Major platforms with majority of the share in the market are Google and Facebook, followed by LinkedIn, Snapchat and other platforms. The market is fragmented for advertising agencies while it is highly concentrated for platforms on the basis of ad spent in 2018. Pricing, brand value as well as advertising strategies adopted by a particular company are considered as of high importance in order to reach a wider target audience in the country.

Malaysia Online Advertising Market Future Outlook
It has been analyzed that pictures & videos in the multimedia would continue to have strong influence to form favorable stance towards brand and purchase intention of customers in the next 5 years. This would make advertisers invest higher on online advertisements. Malaysia online advertising market is forecasted to witness a CAGR (2018-2023) of close to 20% due to the lack of expertise and skills among the agencies.

Key Segments Covered in Malaysia Online Advertising Market
By Online Advertising Medium (On the basis of Online Advertisement Spending)
Desktop
Mobile

By Types of Online Advertising (On the basis of Online Advertisement Spending)
Search Advertising
Social Media Advertising
Banner Advertising
Video Advertising
Online Classified & Others

By Different Sector/Industries (On the basis of Online Advertisement Spending)
Retail/E-Commerce
Travel
FMCG
Healthcare (Includes Pharmaceuticals)
Media and Entertainment
Automotive
BFSI
Others

By Pricing Models (On the basis of Online Advertisement Spending)
Cost per Click (CPC)
Cost per Mile (CPM)
Cost per Action (CPA)

Time Period Captured in the Report:
Historical Period: 2013-2018
Forecast Period: 2019-2023

Key Target Audience
Advertising Agencies
Social Networking Platforms
End User Industries Investing in Online Advertising
Investors

Advertising Agencies Covered:
Group M
Publicis Groupe
IPG media brands
Dentsu Aegis
Omnicom

Advertising Platforms Covered:
Google
Facebook
Instagram
YouTube

Key Target Audience
Advertising Agencies
Social Networking Platforms
End User Industries Investing in Online Advertising
Investors

Companies Covered:
Dentsu
Omnicom
IPG Mediabrands
Publicis
Group M

Platforms Covered:
Google
Facebook
Instagram
YouTube   

Key Topics Covered in the Report
Malaysia Online Advertising Market
Malaysia Online Advertising Market Segmentation
SWOT Analysis of Malaysia Online Advertising Market
Trends and Development in Malaysia Online Advertising Market
Issues and Challenges in Malaysia Online Advertising
Regulatory Scenario of Malaysia Online Advertising Market
Competitive Scenario in Malaysia Online Advertising Market
Company Profiles of Malaysia Online Advertising Market
Malaysia Online Advertising Market Future Outlook and Projections, 2018-2023E
Analyst Recommendation in Malaysia Online Advertising Market

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Rapid Industrialization, Followed By Increase in New & Hybrid Vehicle Demand in Developing Nations is Set to Drive Global Boiler, Tank And Shipping Container Manufacturing Market in the Forecast Period: Ken Research


The boiler, tank, and shipping container are used in industrial applications for transportation, storage, and other useful industrial operations. Boilers are used in heating applications such as textile, food & beverage industry and chemical industry for carrying out different processes. Similarly, tanks and shipping containers are useful for storing, shipping & logistic purposes. These containers are extensively used for commercial and manufacturing applications.

According to study, “Boiler, Tank, And Shipping Container Manufacturing Global Market Report 2019” the key companies operating in the boiler, tank, and shipping container manufacturing global market are Cesaroni Technology Inc, Allied Can Manufacturing Inc, Ordan Thermal Products Ltd, TLS Offshore Containers International, SEA BOX, Inc., Hoover Ferguson Group, Inc., Tempohousing, A.P. MOLLER - MAERSK GROUP, W&K Containers, Inc., YMC Container Solutions, Steam Sauna, Dong Fang International Asset Management Ltd., China International Marine Containers (Group) Ltd., IHI Corp., Singamas Container Holdings Limited, BSL Containers Ltd., MSC Mediterranean Shipping Company S.A., China Shipping Container Lines Co. Ltd., CMA CGM Group, WandK Containers Inc., CXIC Group Co., Ltd., Jindo Co. Ltd., Nu-Tech Precision Metals Inc. Key companies are focusing on organic growth strategies for instance product launches, product approvals and others like patents and events.

Based on type, the global boiler, tank, and shipping container manufacturing market is breakdown into metal tank or heavy gauge, power boiler & heat exchanger, metal can & box and other metal container (light gauge). Based on size of container, market is breakdown into high cube container (40 feet), large container (40 feet) and small container (20 feet). Based on product type, market is breakdown into refrigerated container, dry storage container, special purpose container, flat rack container and others. Based on application, market is breakdown into commercial, industrial and residential.

The global boiler, tank, and shipping container market is majorly driven by rapid industrialization, followed by large scale globalization of trade practices. Moreover, the rise in demands from the food & beverages industry, increase in government initiatives and increase in the number of manufacturing facilities are anticipated to augment the growth of the market. However, slow economic growth in some regions, workforce issues and increase in interest rates are major restraint factors for market. Moreover, developmental programs by governmental organizations in emerging nations are biggest opportunity for market. Furthermore, few of the trends include increase in digital technologies and augment in use of autonomous construction vehicles.

Based on geography, the Asia-Pacific region holds largest market share of boiler, tank, and shipping container market owing to increase in new vehicle sales in fast developing countries such as India & China due to rise in disposable income. Additionally, the Western European region holds second largest market on account of increase in availability of credit & low fuel prices, followed by rise in demand for hybrid electric vehicles. Furthermore, with improved earning capacity, emerging market growth and increase in positive economic outlook, the scope & potential for the global market is anticipated to significantly rise in the forecast period.

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