How USA EV and EV Charging Equipment Market Crosses $100 Bn in 2022? And what’s more? : Ken Research

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EV and EV Charging Equipment Market in USA is expected to growth at a robust CAGR of 18.9% and 19.5% respectively in next 5 years, says a report by Ken Research

1. Revolutionizing the Road: Technological Advancements in Battery Technology and Sustainable Benefits of EV Fuel Growth in the US Market.

To Know Government Regulation and Investments in EV Sector: Click Here

2. Rising Disposable Income and Low Maintenance Cost of EVs Fuel Shift from Combustion Vehicles in Country.

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Major Players Mentioned in the Report:

EV Companies:

• Tesla
• BMW
• Audi
• Ford
• Kia
• Rivian
• Toyota
• Volvo
• Hyundai

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EV Charging Equipment:

• WallBox Chargers
• ABB Limited
• Schneider Electric
• EV Box
• Autel Energy
• ProTerra Energy
• Siemense
• Power Charge
• Intellimeter

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• Electricity Supplier
• EV Manufacturers
• EV Charging Equipment Manufacturers
• EV Charging System Operator
• Demand side Transport Operators
• Government Bodies

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

USA EV & EV Charging Equipment Market

Related Report by Ken Research: –

UAE Electric Vehicle Charging Equipment Market Outlook to 2026

KSA EV Charging Equipment Market Outlook to 2027F

India EV Charging Equipment Market Outlook to FY'2026

Providing A Plethora Of Services Under One Roof Can Be A Mantra For Success In Qatar’s Fitness Services Market– How Has Covid Changed Qatar’s Fitness Landscape? Ken Research

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Home exercise complements gym participation rather than competes with it. The digital revenue of homebased fitness services has been around USD 7 Mn in 2020.

1. The impact of COVID-19 on Qatar’s fitness industry - Gyms and fitness centers were forced to close abruptly during the pandemic.

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Facing months with no income from memberships, gyms turned to offering classes online for free, or for a fraction of their regular cost. But with running costs continuing to stay high for many, mounting bills forced closure of many gyms in Qatar in 2020.

There were nearly 15% footfall reduction in the number of gyms as well as about 5% memberships saw cancellation during the pandemic hit.

Membership renewals also saw a dip.  More than 30% of the industry employees were laid off due to COVID with personal trainers switching to freelancing in digital content such as Instagram and Facebook to stay afloat.

2. What Comprehensive prevention measures were adopted by fitness centers in Qatar to stay afloat?

Prevention Measures During Covid

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• Traditional gyms only opened aerobic areas, strength areas and changing rooms. Swimming pool and shower facilities were closed to prevent gathering.

• Stores were equipped with disinfectants, hand sanitizers and forehead thermometers. Floors, fitness equipment and locker keys were disinfected and cleaned in a timely manner

• Stores had adopted an appointment system to control the traffic where all members needed to show a "heath code" and have their temperature taken.

• Ensuring the use of cardio equipment in intervals, keeping safe distance of 2-3 meters in group exercises, and wearing masks throughout exercises were made compulsory.

Measures adopted by fitness industry to bounce back

3. Brick and Mortar fitness centers are facing competition from online weight loss programs owing to growing prominence of social media platforms  

Fitness Centers and Personal Trainers along with Fitness Bloggers are using social media platforms such as Facebook and Instagram to conduct live workshops for the ease and convenience of home workouts thereby leading to higher participation rate.

The number of users present on social media platforms in Qatar are an opportunity for fitness companies to provide useful fitness related engagement in order to convert them into their customers. The shift from offline to free and easily accessible online fitness tutorials are a major trend in the overall fitness industry.

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Qatar Fitness Services Market

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3 Catalysts That Helped the Indian Agritech Industry to Witness a Growth of More Than 80% from 2019 to 2020; Will the Growth Sustain? : Ken Research

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Indian Agri-tech industry revenue to reach more than INR 11,000 Cr by 2025 and witness a CAGR of 32.0% during 2020-2025., as per findings released by Ken Research.

1. Strong Already Existing Infrastructure Sets the Path for The Agritech Market Revenue to Reach Almost INR 11,000 Cr By 2025.

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Agriculture industry in India has been growing over the years but has experienced volatility and fluctuation. The market growth is dependent on various factors such as climatic conditions, productivity of the crop, weed management, pest and disease management. Satisfactory monsoon season in 2017 led to high growth in agriculture produce. Moreover, almost 285 new irrigation projects were undertaken in 2018 to provide irrigation for more than 16 Mn hectares of land.

2. Rising Number of Agritech Startups has been Playing Major Role in the Boom in the Agritech Industry in India; How These Startups Would Shape the Agricultural Setup in the Country?

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Number of Agri-tech startups in India have witnessed a sharp spike from almost 60 in 2014 to ranging 600-700 by the end of 2020, growing at a CAGR of over 47.0%. Nearly, 75% Agri-tech startups have incepted post-2013, with 2015 and 2016 witnessing the emergence of maximum number of players. Moreover, the adoption of Agri-tech solutions among farmers and farmer organizations continues to be low and startups experience long gestation period to develop trust amongst the community. In addition, total 8 Indian states including Delhi, Haryana, Tamil Nadu, etc, are each home to at least 25 Agri-tech startups. Maharashtra and Karnataka together account for almost 50% of the Agri-tech startups in India.

3.  Other Government Policy Support to Improve Agri Export Volumes from India from almost USD 35 Bn by 2020.

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• The Agriculture Export Policy, 2018 was approved by Government of India in December 2018. The new policy aims to increase India’s agricultural exports to almost 100 bn in the next few years with a stable trade policy regime.
• The GoI has come out with the Transport & Marketing Assistance (TMA) scheme to provide financial assistance for transport & marketing of agriculture products in order to boost exports.
• The agriculture reform laws announced by the govt. in 2020 also aim to increase Agri exports by allowing farmers to directly trade with exporters & by exemption exporters from stock limits.

Qatar’s National Tourism Strategy 2030 and the FIFA World Cup: A Game-Changer for Retail, Restaurant, and Hotel Industries — What Does the Future Hold? — Ken Research

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Retail Restaurant and Hotel Industry in Qatar is expected to growth at a robust CAGR of 2.5% and 5.5% respectively in next 5 years, says a report by Ken Research

1. How the FIFA World Cup is Boosting Qatar's Retail Restaurant Market: Opportunities and Challenges.

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• The FIFA World Cup Qatar 2022 has significantly fostered sales of about 400 food and beverage outlets in the areas surrounding the tournament stadiums and fan zones.
• More than 450+ new restaurants were added in Qatar in 2021, with industry reviving post-covid & started preparing for the FIFA World Cup to sustain the influx of domestic & international tourism.
• International Tourists influx has risen to 1.2 Mn registering a growth of over 200% during the World Cup months as compared to the pre covid level of 2017 and 2018.

2. Qatar's National Tourism Strategy 2030: Aims to Draw Over 6 Mn Visitors and Encourage Establishment of New Hotels in the Country.

• Qatar Tourism identified geographical zones based on their location to develop tourism products and services in each of the regions like Al Khor, Dukhan, Al Mashabiya, Al Zubarah, etc.
• Turkish architectural firm Hayri Atak Architectural Design Studio plans to build a floating hotel by 2025 in Qatar. The eco-floating hotel will have 152 rooms and will be designed to reduce energy loss and waste production.
• The Marriott Group will continue to fortify its position as Qatar’s leading hotel operator, with about 8,800 rooms under management by 2025.

3. Social-Media: The Key to Boosting Customer Engagement and Building a Strong Brand Identity for Restaurants.

Restaurants

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• Email updates are one of the easiest ways to enable visitors to recognize each other and fuel return visits. It lets to be in touch with your customers.
• Interaction with clients is very critical in acquiring more customers. Timely response to user queries satisfies your clients and urges them to refer your business point to more people.
• Advertise on platforms such as Facebook, Instagram, YouTube, Twitter, etc. Uploading videos or pictures on social media accounts, demonstrating how food is prepared quickly impresses new customers.
• Loyalty programs encourage shoppers to return to retailers, by offering incentives like special discounts or sales, or free goods or services. The rewards encourage to continue to shop at or use the services.

For more insights on the market intelligence, refer to the link below:-

Qatar Retail Restaurant Market

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The Road Freight Market in Vietnam is expected to reach VND 276 Trillion by 2025. Will the projections justify the growth rate? : Ken Research

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The Vietnam road freight transport market is expected to grow at a CAGR of 7% due to the developing trade infrastructure and the advantage of the geographic location to Vietnam, says a report by Ken Research

1. “Investment in Infrastructure:” The infrastructure in Vietnam’s Road Freight market has witnessed massive development in the recent years

Recent Trends in Vietnam Road Freight Market

The Ministry of Transport, Vietnam has launched Vietnam Road Administration (VRA), a subordinate administrative agency to administer and supervise the road transportation system. The VRA is continuously working for the management, planning and improvement of the infrastructure through regular up-gradation in the Road Design Standard. By 2030, VRA is planning to invest $14Bn in order to provide a continuous road network in Central Vietnam, through a north-south highway of 1,372km. In 2019, the ministry of Transport ordered the installation of digital toll booths across the expressways nationwide to increase the efficiency of transportation and reduce the waiting time. Setting up monthly payments would help in reducing the informal fee and a 10% decrease in total toll fee.

2. The Value Chain in Vietnam’s Road Freight Market is dominated by Mid Mile Services

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As of 2019, Mid Mile accounts for 37% of all movements within the supply chain while take up 35% to 50% of the total supply chain cost, depending on the distance and inter-state or inter-country permits. Type of Trucks used for Mid Mile are usually Trailer trucks ranging from 10T to more than 20T. The market is growing mainly due to focus on the infrastructure development, specifically the supply chain.

3. Revenue from Road Freight is expected to reach VND 276 Trillion by 2025 from 2 Billion tons of Freight being carried in 2025

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The Road Freight market in Vietnam is expected to generate VND 276 Trillion revenue. As Vietnam develops a major high-capacity, high-speed transport network - North-South Expressway, shortening economic distances across the country, new transport nodes are created as potential candidates for future economic clusters. The Government of Vietnam has laid out a master plan through 2035 to develop the industrial sector, with a national goal to achieve a 12.5% annual growth rate of industrial production value through 2021 to 2025 and 11% from 2026 to 2035.

The Market For Cold Chains In Qatar Is Projected To Expand At A CAGR Of 6.6% By 2026. Will Qatar Uphold This Expectation? : Ken Research

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1. Technological and Warehousing Developments Set to Revolutionize the way Cold Logistics work in Qatar.

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Remote Monitoring System (RMS)

This measures the door opening and temperature fluctuations of a refrigerator. There are two volt free contacts in the door of the refrigerator. These record all opening and closing of the door. The analog signal is converted into a digital signal and is transmitted to a centralized computer. A user can remotely check the conditions. E.g., Vacker is a customizable RMS provider in Qatar.

Warehouse Management System (WMS)

WMS often utilize Auto ID Data Capture (AIDC) technology, such as barcode scanners, mobile computers, and RFID) to efficiently monitor the flow of products. After data collection, there is either batch synchronization, or a real-time wireless transmission to a central database. The database provides useful reports about the status of goods. E.g., Stallion Group, Cluster, LEDD Technologies are some of the providers.

2. In the last several years, Qatar has risen to the top of the Global Innovation Index.

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Under the category of ‘Logistics Performance’, Qatar took rank 29. This rank demonstrates both Qatar’s high performance in this sector and the scope to improve further in enhancing the logistics performance. This can be achieved in the coming years as Qatar continues to diversify and increase its capacity to produce food domestically. The FIFA World Cup 2022 which took place in Qatar, is also contributed towards increasing investments in the overall logistics and cold chain market in the country.

3. Qatar building Freight Master Plan to Establish Modern Infrastructure for the Freight Industry and Control Freight Traffic on Road

• The Ministry of Transport and Communications is building the Qatar Freight Master Plan, which is expected to be finalized by the end of 2022.
• The QFMP aims to establish a modern infrastructure for freight industry across the country.
• The aim is to reduce freight traffic on road congestions. It is also preparing a freight route designing guidebook and setting systems and policies relating to freight, its modes and workhours on well-considered routes.

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Qatar Cold Chain Market

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With over 350 outlets in Vietnam Online Grocery Market, the Supply side has been doing well. Is the Demand sufficient for a Robust Growth?: Ken Research

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The country has over 8 players partnering with over 40 logistics companies actively in order to fulfill the demand, says a report by Ken Research

1. “Supply taken care of:” The supply side infrastructure of Vietnam Online Grocery Market is positioned well as a result of various initiatives by the government & companies themselves.

Click to Read Full Article: Vietnam Online Grocery Market

The online grocery market in Vietnam is well positioned to fulfill the current demands of the industry as a result of various initiatives undertaken by the government & the companies themselves. In May 2020, the government of Vietnam approved the e-commerce development master plan that aims to promote the e-commerce by narrowing the gap between major cities and localities and building a sustainable virtual market. Rising income levels have also led to a change in the spending pattern. The middle-income class in Vietnam has been growing steadily over the past ten years. During the period 2016 – 2021 it was observed that the middle-income population in Vietnam increased at a CAGR of 10%, it accounted approximately 13% of the total population, and is expected to grow by 26% by the end of the year 2026. With over 61 Mn active internet users, Vietnam has a well-positioned market for e-commerce.

2. The rising internet penetration & working professionals alongside some perks arising out of online grocery shopping has tilted the preference towards online platforms.

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The most beneficial factor of shopping online was identified as a possibility to compare prices and buy at a lower price. Customer would prefer the operator that would offer similar products at a lower price. Moreover, promotion techniques such as coupons, free samples, discounts, cashback offers has increased the chances of customer retention. Hassle free payment, return & refund experience is an important factor in a purchasing decision and has lured customers towards online shopping. Furthermore, a clear return policy gives consumers a feeling of security which is often not the case in offline purchases. When it comes to working professionals, faster delivery is something that has attracted them alongside rising internet penetration rate which stood at over 61 Mn in 2020. All in all, the online shopping trend is picking up pace with over 30% of online buyers being frequent in nature placing the order 3-5 times a month.

3. “Demand to pick up pace:” Increasing demand for fast-delivery of groceries is anticipated to be seen in the upcoming years as people expect more online platforms.

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Increasing service innovation such as Expanding product assortments to ensure 100% product availability at all times. Virtual shopping tour with available products. Enabling consumers to compare products, prices and read labels & Facilitators in terms of shopping lists i.e. multiple family members could add to a common grocery wish list will be expected in the upcoming years. Moreover, improvement in delivery infrastructure is also something that can be expected to be there in the online grocery market in Vietnam.

Used Car platforms in UAE are likely to focus on establishing a transactional marketplace to enable 100% online end-to-end transactions. Will the growth sustain?: Ken Research

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In 2020, online marketplace players and classified network contributed to majority share of 75% of the overall sales volume of used cars in UAE: Ken Research

1. “Go Digital:” The players in the market have realized the importance of a multichannel approach to sales.

Online preference in UAE Used Car Market: Click Here

The United Arab Emirates has a significantly high penetration of internet users in the GCC region. This can be primarily attributed to the availability of high-speed internet at an affordable price. In 2021, there were over 10 million internet users in the United Arab Emirates and the internet penetration rate stood at over 95 percent of the total population by 2022. This has motivated players to switch their business model from offline to online models in order to offer an easy and hassle-free experience to their customers. For instance, in February 2022, Cars24 a renowned online platform launched an AI-enabled software, allowing buyers to purchase and sell cars within 30 minutes of downloading the program. Customers can also calculate their monthly EMI and track other characteristics like engine, steering, and tires.

2. “C2C in demand:” C2C Segment is Expected to Grow at over 12% CAGR During the Forecast Period.

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The customer-to-customer or C2C sale in UAE has become much easier due to rise of    the social media and the internet. The market is expected to grow at a CAGR of over 10% during the forecasted period. According to Q1 2022 Global Social Commerce Market Survey, more than 68% of the consumers in the country prefer to make pre-owned cars related purchases through social media platforms such as Facebook, Instagram, and TikTok. Dubbizzle is the most popular website for selling and buying used cars from private owners. It was first launched as a Dubai-focused website but now covers all the seven emirates. Other similar websites include UAEclass, Kargal and Open Sooq. Used cars for private sale can also be found on expat forum websites such as ExpatWoman, Expat Forum, and ExpatExchange.

3. “EV in demand:” With the onset of COVID, the sellers & buyers shifted towards EV & that is expected to be seen during the forecasted period as well.

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The demand for new cars compared to used cars is expected to decrease at a massive pace in between 2020 and 2025. Since, newer cars are more expensive and the recent development in used car market wherein quality products are being offered, customers will be looking forward to spend affordable prices on used cars rather than paying hefty sums for newer brands. Also, the introduction of electric vehicles in the market will deem the newer fuel operated vehicle obsolete thereby decreasing the demand for new cars. This in turn, is temporarily expected to increase the demand for used car till the time complete shift to electric vehicle takes place. Along with that, any prospective government regulation and tax imposition on fuel operated vehicle in order to curb pollution is also expected to decrease the demand for new cars.

EV Charging Equipment market gets a big push from the government as EV adoption grows in India: Ken Research

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Since 2020, EV sales in India have been consistently breaking records as a result of a dynamic shift in public opinion towards electric transportation. The government currently faces a big gap as EV adoption rises, and building a massive network of public stations and community charging stations in important metro areas comes as a big task. However, the government is coming forward and providing several incentives to fix this gap. Here is a glimpse of the major government’s strategic plan and actions that aim to offer a big support to the EV charging Equipment market in India, directly from our premium report.

1. With US, China and part of Europe becoming frontrunners for EV adoption, India also has a high potential for EV Penetration and Growth

2. As a part of the larger EV adoption push, different aspects of EVSE deployment—standards, incentives, adoption and execution—have been entrusted to different government entities

3. The government has announced EV infrastructure Standards and Guidelines to implement Electric Vehicle Charging Stations

4. Incentives will be disbursed in three slots—20% at the time of approval as an advance, 40% after the commissioning of charging stations, and 40% after 6 months of successful commercial operation

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 5. As of January 2020, 2,636 EV chargers have been allotted the incentive in 24 states and union territories, out of which 1633 fast chargers and 1003 slow chargers have been sanctioned

6. Lack of Space, Manpower for Setting-Up along with High Initial Costs of Charging Equipment, and Infrastructure are the major challenges in India’s EV Charging Equipment Market

7. However, Battery swapping could address some of the key challenges in electric vehicles, such as the high battery replacement cost, long charging duration, and insufficient charging infrastructure

8. Owing to Strong government Push and Industry Initiatives India is expected to witness considerable growth in the EV Charging Infrastructure market

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India EV Charging Equipment Market

Related Reports By Ken Research:-

USA EV & EV Charging Equipment Market Outlook to 2027

KSA EV Charging Equipment Market Outlook to 2027F

 

Increasing demand for 2 Wheelers will ensure business sustainability in Indian Multi-brand Outlet Market: Ken Research

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1. Two wheelers dominate the domestic Indian auto market accounting for almost ~75% of the overall automobile sales

Click to Read Full Article: India MBO Two Wheelers Market

Indian auto industry recorded strong growth in FY22, post recovering from the effects of the COVID-19 pandemic. Electric vehicles, especially two wheelers, are likely to witness positive sales in FY23. 1/2 of the households in big cities and developed rural areas own two-wheelers. Upper Middle class people are preferring to purchase 4Ws instead as evidenced by ~13.5% market share in FY’20 growing up to ~20% Market share in FY’22. Moreover, India has become the world’s largest producer of two-wheelers since FY’19. One in three Indians use 2Ws for their daily commute to and fro work. 2Ws are primarily a utilitarian choice for Indians rather than an aspirational or lifestyle choice. First-time buyers in rural and semi urban areas have been the biggest drivers in this segment.

2. India has higher sales penetration for Motorcycles rather than Scooters via MBOs due to its high mileage and being a preferred medium of commuting

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As of FY’22, Motorcycles are preferred over scooters owing to their high mileage. Motorcycle although occupies the largest share in India 2-Wheeler MBO market, scooter segment is expected to rise sharply in coming years as scooter is more convenient to any family member regardless of age or gender hence it will become a preferable choice in the future. Another reason is the cost effectiveness of a scooter compared to a motorcycle.

3. It takes anywhere between 2-48 hours to disburse the loan amount via a bank or a NBFC for 2Ws after examining the CIBIL Score and detailing financial background check of an applicant

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Banks mostly provide loans to a MBO via authorized dealer. Invoice is generated by the authorized dealer. While NBFCs can directly partner with the MBO, basic documentation is completed by an MBO executive. Both the parties’ partner with a Direct Selling Agent to receive loan enquiries in most cases. The Agent codes are generated to give payouts to the MBOs. Banks hold a major share in the MBO finance because they have lower interest rates and better connectivity.

Rise in the ASP of the vehicle will push the lower income group to look for financing options. Another reason is the expanding female applicants will give a slight push to the financing market parallel to the overall 2W sales. Inclination towards top variants of the 2W will also help finance market to grow.