Global Market Research Reports : Ken Research

Friday, October 21, 2022

Increase in smartphone and internet penetration, Government support, covid-19 pandemic, and low cost of infrastructure is expected to drive Malaysia Online Insurance Industry: Ken Research

Malaysia Online Insurance Industry Overview:

Increasing Internet and Smartphone penetration, low infrastructural cost and covid-19 pandemic have collectively influenced the demand of Online Insurance users in the country. Players in Insurance industry are aiming to provide online services to cater the untapped and under exploited market.

Medical inflation is increasing at more than 10% since 2015, leading to increasing demand for health insurance providers. Covid-19 also plunged the demand and penetration in the health insurance segment with double digit CAGR seen from 2019 to 2020, the highest increase in over the past 5 years. Malaysia’s life insurance industry underwent digitization because of the COVID-19 epidemic. The restrictive measures imposed in Malaysia provided an opportunity for insurers to switch to a digital mode of operations.

Motor Vehicle registration is growing at a constant rate, with more than 50 products launched in the market in 2019. This has increased the need for motor vehicle insurance providers in Malaysia.

Travel Insurance constitutes very high proportion in the online insurance segment, with Most of the travel insurance are sold online along with the travel packages or bookings. Online travel agencies tie up with companies to provide insurance for their users. Huge investment are made in insurtech companies with technological advancement in the form of automation and personalization, dominated the insurance landscape.

Increasing mobile penetration gave high upside potential to the online insurance market with Malaysia having 89% internet users in 2020, and growing at a CAGR of 5% since 2016 showing opportunity for business to divest in online insurance segment. Multiple marketing and business strategies are implemented involving cutting insurance time from 14 days to 1 hour, thus reducing waiting time for the buyers.

The report titled “Malaysia Online Insurance Market Outlook to 2026F: Driven by a growth in demand for insurance at greater convenience and lesser cost in the country” by Ken Research suggested that the Malaysia Online Insurance market is expected to grow significantly owing to increasing government support and covid-19 pandemic. Covid-19 drive the growth of Insurance Industry with the increase in online users and people’s preference towards avoiding physical contact and substantial increase in the health demand for the users. Instead of a one-size fits-all approach, insurer’s offers personalized or customized insurance products through the digital insurance process, in order to satisfy the needs of all types of clients. Online sales of insurance has removed the intermediary between the firm and the policyholder. This cuts down cost for both the insured as well as the insurer. The convenience and ease of use offered due to shifting of the industry online makes it a preferred choice for people looking to purchase insurance currently. The experience of being able to purchase insurance from the comfort of one’s own home drives them towards online insurance.

Key Segments Covered in Malaysia Online Insurance Industry

Malaysia Online Insurance Market

By Product type of Insurance basis Gross Premium
Life Insurance
Family Takaful
General Takaful
General Insurance

By Product type of General Insurance basis Gross Premium
Motor Insuranc
Medical & Health
Employer’s liability
Personal accident

By Type of Entity basis Gross Premium
Captive Players
Aggregator Players
Financial Advisors

By Region basis Gross Premium
Penang
Johar
Klang Valley & Selangor

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Key Target Audience

Insurance players
Online Insurance Captive players
Online Insurance Aggregators players
Insurance Technology provider
Insurance users
New Entrant in Online Insurance space
Associated or affiliated Banks with Insurance entities
Regulatory Bodies for Insurance entities

Time Period Captured in the Report:

Historical Period: 2016-2021
Forecast Period: 2022-2026

Emerging Companies in Malaysia Online Insurance Sector

Companies Covered:

Online Insurane Aggregators

Policy Street
Bjak
Qoala

Online Insurance Captive Players

Liberty Insurance
Axa Affin Insurance
eTiQa Insurance
AIA Malaysia
Takaful Ikhlas
Tune Insurance
Zurich Insurance
Chubb Insurance
Allanz Malaysia Berhad
FWD Takaful

Key Topics Covered in the Report

Overview of Malaysia Online Insurance Industry
Startups in Malaysia Online Insurance Sector
Country Overview of Malaysia Online Insurance Industry
Malaysia Online Insurance Market Overview and Genesis
Malaysia Online Insurance Market Segmentations
Industry Analysis of Malaysia Online Insurance Market
Snapshot on Online Aggregators in Malaysia
Competition Analysis of Malaysia Online Insurance Market
Outlook and Future Projections for Malaysia Online Insurance Market
Research Methodology

UAE Online Insurance Industry Outlook To 2024 – Driven By Customer Uptake, Ease For New And Renewal Policy Convenience With Insurance Aggregators

India Web Insurance Aggregator Outlook To 2024 - Challenging Incumbent Distribution Channels Of Insurance Products

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Ken Research

Ankur Gupta, Head Marketing & Communications

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3 Key Insights on US$ 10 Bn Opportunity in Global Semiconductor Rectifier Market

Driven by Increasing Demand for Smart Grids and the rising government expenses on Modern Power Generation and Distribution Infrastructure, the Global Semiconductor Rectifier Market is Forecasted to Cross $10 Bn by 2028 says Ken Research Study.

A semiconductor rectifier is a part of the electrical system with two leads which allows current to flow exclusively in one direction. The device changes alternating current (AC) to direct current (DC) and is a component of the power supplies used in electrical devices.

Ken Research shares 3 key insights on this high opportunity market from its latest research study.

1. Increasing Demand for Telecommunication Equipment to Propel the Market Growth

According to Research estimates, the Global Semiconductor Rectifier Market – which was valued from around US$ 3 Bn in 2017 to nearly US$ 5 Bn by 2022 – is expected to grow further to more than US$ 10 Bn opportunity by 2028.

Key drivers pushing the growth of the Semiconductor Rectifier Market are the rising electrification trend in automobiles, the increasing number of consumer electronic devices and telecommunication services, and the digitization of the industrial sector.

In addition, rising Internet usage and the use of telecommunications equipment in developing nations like China, Brazil, India, and Japan are creating chances for the expansion of the Semiconductor Rectifier Market in the upcoming years.

2. Increasing Adoption of Semiconductor Rectifier in Smart Grid to Propel the Market Growth

The traditional, centralized electricity supply networks are in the process of being replaced with a "smart grid." This "smart grid" can be thought of as a set of systems or the total of connected mini-grids that have greatly decentralized energy production, storage, and consumption.

The transformation enables more efficient use of an increasing number of renewable energies, replacing the utilization of fossil fuels and nuclear power, even though large-scale power plants remain the major backbone of these networks for the years to come. In addition to power generation and transmission, this transformation will also affect energy storage, communication, and security concerns, making semiconductor rectifiers a dominant and critical component of these new mega-structures in all ranges.

3. Reduced Semiconductor Manufacturing Impacted the market Negatively

The semiconductor industry was compelled to operate at a significantly reduced capacity due to weak demand and COVID safety concerns, which resulted in utilization rates that were historically low. Parallel to this, the semiconductor industry's major customer, the automobile sector, opted to cancel their backlog and burn through both their completed goods inventory as well as their semi-finished inventory in order to construct what they could. It has in turn negatively impacted the Global Semiconductor Rectifier Market.

For More Information, refer to below link:-

Top Companies in Semiconductor Rectifier Industry

North America 5G Equipment and Device Market Size, Segments, Outlook and Revenue Forecast 2022-2030

Global Machine Learning as a Service (MLaaS) Market Size, Segments, Outlook, and Revenue Forecast 2022-2028

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3 Key Insights on Competitive Landscape in Global Semiconductor Rectifier Market: Ken Research

Country-Niche Players and Regional Players constitute ~50% and 35% respectively Despite the Presence of about ~200 Competitors, find a Recent Market Study on Global Semiconductor Rectifier Market

A semiconductor rectifier is a device with two leads that allows current to flow only in one direction. As a part of the electrical system, it changes alternating current (AC) to direct current (DC). It is a component of the power supplies used in electrical devices.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

Large Global Players Hold Around 40% of the Market Share Followed by the Regional Players Holding ~35%.

A comprehensive competitive analysis conducted during the Research Study found that the Global Semiconductor Rectifier market is competitive with ~200 players which include globally diversified players, and regional players, as well as a large number of country-niche players having their own niche in semiconductor rectifier advancement for multiple industries.

According to the research, the large global players held the dominant position in the market in 2021, in terms of the market share with about ~40% followed by regional players which account for ~35% of the market share.

Global Players have a Diverse Presence Across Different End-User Industries Promoting Market Growth.

With numerous global corporations and small producers operating their companies through a variety of products and a vast distribution network, the market is considerably competitive by nature. From product manufacturing to final product distribution to multiple places, the enterprises in the sector have a high degree of integration.

Key players have a significant presence in various end-user industries like I.T. and Telecom, Automotive, Consumer Electronics, Power and Utility, and various others. Not just key players but also emerging players are expanding in different industries with semiconductor rectifier products and are also investing in strategies like collaborations and technological development to compete in the industry.

Increased Adoption of Semiconductor Rectifier in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins

In October 2022, five businesses submitted plans to the government for the establishment of plants to produce electronic chips and displays for an investment of 1.53 billion rupees. IGSS Ventures, Vedanta Foxconn JV, and ISMC have proposed investing US$ 13.6 billion to construct an electronic chip manufacturing base and Rs. 5.6 billion to fund the Semicon India project.

In October 2022, LSCT30PV120B9G, a new generation silicon carbide full bridge with a rectifier module was created by Lakesemi. This new module has a very low on-resistance. Additionally, it has the traits of high-speed switching, low capacitance, and high switching frequency, which contribute to enhancing the equipment's quick response and energy efficiency. As a result, it has many different applications, including switching mode power supplies, motor drives, and UPS.

For More Information, refer to below link:-

Raw Materials Suppliers for Semiconductor Rectifiers

North America 5G Equipment and Device Market Size, Segments, Outlook and Revenue Forecast 2022-2030

Global Machine Learning as a Service (MLaaS) Market Size, Segments, Outlook, and Revenue Forecast 2022-2028

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Ken Research

Ankur Gupta, Head Marketing & Communications

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+91-9015378249

Thursday, October 20, 2022

How Covid- 19 triggered the Portugal cold chain Industry Turning Points: Ken Research

In conversation with Mr Vincent Wyns, Managing Director International in Reputed Logistics Player of Portugal, we tried to understand the Cold Chain Industry in Portugal. We also discussed the effect of pandemic and the future going forward.

“The cold chain industry has been witnessing a period of high growth in the last couple of years, owing to the higher demands from the food and pharma sector. The industry’s future growth will stabilize and will mostly be driven by the consumption of food items”

What do you think is the current cold chain industry outlook in Portugal?

During last couple of years, specifically pandemic period, strong advancements have occurred in the logistics industry in general, and that includes the cold chain; both Transportation and Warehousing. It was mostly because there was a lot of demand for vaccine storage and transportation, and Portugal was no different than the any other market in the world. Cold Chain market players were constantly trying to add more cold chain capacity, for both warehouses and transportation mostly because of increased vaccine and pharmaceuticals distribution. Within this period, the cold chain market in Portugal grew around 15%.

How do you think will this industry grow in coming future?

There will obviously be growth in the overall market, but it will not be as much as the pandemic period, the future growth will again stabilize. Covid-19 period has been a propeller and it increased the demand rapidly for pharma products, but now it is all going back to the normal again. The y-o-y growth of the market will be around 10%, which is the average growth of Cold Chain market in Portugal. This growth is mostly driven by food consumption within the country.

For any queries or feedback, reach out at namit@kenresearch.com

Cold chain caters to various industries, so which industry demands the highest for the cold chain?

In terms of volume, the biggest segment that is catered by cold chain industry in Portugal is Food. Meat, seafood, fruits and vegetables take up about 50% of the total, whereas pharmaceutical products are about 15% and the rest consists of dairy, frozen foods, and others.

How is the temperature-controlled transportation classified within the country? What is the most used mode of transportation?

Our neighboring country Spain produces most fresh fruits and vegetables in Europe, so the import as well as transportation within Portugal is mostly from land. Air transportation is expensive, hence only the goods that are needed to be transported quickly, for example more tropical fruits, are transported by air. Land transportation holds the majority and is about 60% of the total transportation, followed by sea which is around 30% and then air transportation, which is 10%.

For any queries or feedback, reach out at namit@kenresearch.com

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

5 Key Insights on US$ 700 Bn Opportunity in Global Metaverse Market: Ken Research

The global metaverse market has expanded as a result of the development in demand for three-dimensional (3D) virtual environments as remote working tools during the COVID-19 period, the Metaverse Market is Forecasted to Cross US$ 700 Bn by 2030 says Ken Research Study.

Metaverse can be defined as an integrated network of a 3D virtual world that allows the users to have virtual interaction. It is the digital reality that combines the aspects of virtual reality, augmented reality, and mixed reality. Some of the major end users of the metaverse include healthcare, gaming, social media & live events, and others.

According to Ken Research estimates, the Global Metaverse Market – which grew from around US$20 Bn in 2019 to nearly US$50 Bn in 2022 – is expected to grow further into a more than US$700 Bn opportunity by 2030. Ken Research shares 5 key insights on this high opportunity market from its latest research study.

1. The COVID-19 Pandemic has aided in the Acceleration of Global Metaverse Market Growth to ~40%.

Due to its ability to replicate a virtual environment that enables technologies like Virtual Reality, Augmented Reality, Mixed Reality, Blockchain, and others, the Global Metaverse Market is anticipated to develop rapidly during the forecast period. In addition, the COVID-19 pandemic was the primary force behind Metaverse since it anticipated increased demand around the world compared to the period before the pandemic. In response to the pandemic and ongoing advancements in 5G technology, sectors like healthcare and education began adopting Metaverse, and workplaces switched from offline to virtual video streaming events. This offers the Metaverse a chance to expand.

2. Rise In Consumer Spending On Virtual Concerts And Remote Working Tools Drives the Metaverse Market Growth.

With the increase in the demand for Metaverse platforms, users have found a new way to socialize themselves with each other across the globe in the virtual world. Enterprises can manage and meet their employees on a platform made available by Metaverse, communicate with them, and retain in-person engagement even when working remotely. It also helps in keeping track of employees inside the virtual work. Such application of the metaverse platform in the modern workplace helps in the growth of the metaverse market.

As the demand for virtual concerts has grown, users in the media and entertainment industries have spent a lot of money on them. The concerts are organized in a virtual environment with the use of VR headsets and AR technology. AmazeVR, a virtual concert platform based in Los Angeles, announced on September 2022, that it has secured a US$ 17 million fundraising round to produce immersive music experiences through VR concerts.

3. Rise in Cyber Attacks is a major concern to Global Metaverse Market.

Technology like virtual reality and augmented reality have the power to combine the real world with the virtual world, opening up new opportunities for hackers to target users of metaverse technology and their businesses. Major leading players have faced a loss of billions of dollars due to these cyber-attacks. An increasing number of cyber-attacks may hinder market growth. The Federal Bureau of Investigation (FBI), Internet crime complaint center reported 2,084 complaints from January to July 2021.

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4. Hardware Segment Held The Major Share In Terms of Components and Is Expected To Maintain Dominance During The Forecast Period.

The hardware segment is projected to account for the largest market share during the forecast period. Hardware segment provides devices such as AR/VR headsets & displays, and extended reality hardware. Companies are focusing to develop more advanced hardware, such as VR/AR headsets, haptic devices, and sensors, to enhance the realism of virtual worlds. For instance, in October 2021, Meta Reality Labs, Facebook’s parent company, will invest at least US$ 10 billion in the creation of gear for augmented reality (AR) and virtual reality (VR).

5. With the Majority of the Revenue Share, North America Region Dominated the Global Metaverse Market in 2021.

The industry is anticipated to have significant expansion as a result of the presence of numerous significant players in the North American market. The numerous academic and research institutions in this North America are attempting to investigate the further potentials of the metaverse market. Another factor anticipated to boost the regional market's revenue growth is the rising number of start-ups focusing on the creation of metaverse platforms for commercialization.

In September 2021, Meta platforms announce US$ $50 million investment in global research and program for the development of its Metaverse.

For More Information, refer to below link:-

Metaverse Applications Development Companies

Indonesia D2C Online Retail Market Outlook to 2026– Driven by high smart phone and Internet Penetration, changing Consumer lifestyle along with the inclination towards exploring New brands and Products

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3 Key Insights on Competitive Landscape in Global Air Compressor Market: Ken Research

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Few Diverse Global Players Dominate the Market Holding ~45% of Revenue Share Despite the Presence of about ~300 competitors comprising a Large Number of Country-Niche Players and Regional Players, finds a recent market study on Global Air Compressor Market by Ken Research An Air compressor is a device that transforms power from an electric motor, diesel engine, or gasoline engine, etc. into potential energy stored in pressurized air i.e., compressed air. The air compressor is used for a lot of different things, including vacuum packaging, dehydration, air blowing, powering tools, spray painting, cleaning, and medical equipment.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

1. Global Players Who Comprise 10% in Terms of the Number of Competitors Hold the Dominant Revenue Share

Competitive Analysis by the Ken Research Study found that the Global Air Compressor market is highly competitive with ~300 players which include globally diversified players, country-niche players as well as a large number of regional players having their own niche in the development and execution for specific segments. The country-niche players comprise just about ~55% in terms of the number of companies, followed by regional players accounting for ~30% in terms of the number of companies. Most of the country-niche players are raw material suppliers. Some of these who successfully evolve to create specific air compressors often get acquired by large global players seeking to grow and diversify quickly.

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2. Leading Specialist Global Players' Ongoing Efforts To Provide Air Compressor To a Variety of Industries Drive the Growth of the Market

Detailed comparative analysis of key competitors available within the Research Study shows that specialist companies, such as Elgi Equipment Limited, Sullair, and VMAC company are highly focused on providing a significant number of compressor products that can be used across multiple industries, including manufacturing, food & beverage, oil & gas and many more.

3. Increased Adoption of Air Compressor Around the Globe Led to Major Industry-Wide Developments, Acquisitions, Collaborations, And Deal-Wins

In January 2021, the Indian Bureau of Energy Efficiency (BEE) implemented voluntary energy efficiency policies for ultra-high-definition (UHD) televisions and air compressors with the goal of lowering the energy consumption and climatic effects related to these products while providing consumers with cost savings.
In October 2020, Lontra has announced the appointment of Blade Compressors® LLC, a branch of Industrial Air Centers with headquarters in Jeffersonville, Indiana (USA), as the National Distributor for Lontra Blade Compressors® and upcoming Lontra products and services throughout North America.
In December 2019, Atlas Copco has acquired MidState Air Compressor's operating assets. The company serves Massachusetts, Connecticut, and Rhode Island in the United States as a distributor of compressors and service providers.

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Key Topics Covered in the Report

Snapshot of Global Air Compressor Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Air Compressor Market
Historic Growth of Overall Global Air Compressor Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of Global Air Compressor Industry
Overview, Product Offerings, and Strength & Weakness of Key Competitors
COVID-19 Impact on the Overall Global Air Compressor Market
Future Market Forecast and Growth Rates of the Total Global Air Compressor Market and by Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Air Compressor in Major Regions
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Region

Notable Emerging Companies Mentioned in the Report

Porter Cable
Siemens
Cook Compression
AireTex Compressor
Best Aire LLC

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

Air Compressor Companies
Air Compressor Manufacturers Association
Industrial Machinery Research & Development Institutes
Government Ministries and Departments of Engineering and Machinery
Investment Banks targeting Industrial Machinery Sector
Private Equity and Venture Capital Firms targeting Industrial Machinery Sector
Components and Material Suppliers to Compressor Manufacturers

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: –

Global Air Compressor Market: Ken Research

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Ken Research

Ankur Gupta, Head Marketing & Communications

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International Flows Coordinator of STEF Portugal talks about Portugal Cold Chain industry is growing rapidly due to higher demand from food and pharma sector, especially in the recent years: Ken Research

Ms Liliana Andrade, International Flows Coordinator, STEF Portugal

In conversation with Ms Liliana Andrade, International Flows Coordinator, STEF Portugal, we tried to understand the Cold Chain Industry in Portugal. We also discussed the effect of pandemic and the future going forward.

“The Portugal Cold Chain industry is growing rapidly due to higher demand from food and pharma sector, especially in the recent years. The high number of captive storages are expected to reduce in the near future as the prices of maintaining personal storages will rise and shared storages provided by cold chain players will be preferred.”

What are the current cold-chain industry trends in Portugal? How do you think will the industry grow in future?

The industry is currently growing very rapidly due to higher demand from food and pharma sector, especially in recent years. The rise of ecommerce has also led to the growth of cold transportation and storage in Portugal due to the need of quicker deliveries, safety standards and laws. During the pandemic, the growth rate rose up to 20% and currently it is approximately 15%. This is surprising because I reckoned that the demand will fall after the pandemic due to cash crunch but it is still high.

It is difficult to predict how the future will look like due to the impact of Inflation on the industry. As prices rise, consumer demand might fall. However, the decline will not be significant since the cold-chain industry is directly tied to the necessary products such as food and medicines. From what I understand, the growth rate might fall to 5-10% due to the impact of inflation.

What is the distribution between cold storage and cold chain transportation?

Okay, in Portugal, it's about 20% storage, and transport is 80%. The main reason is that a lot of companies in Portugal have their own warehouses. In Spain, they don't spend money to have their own warehouse, but in Portugal, they spend it due to lower costs of maintaining their own facilities. Therefore, it's very common for small industries to have their own warehouse. That's why it's only 20%-30% at max. In the next few years, more and more companies will outsource storage and not use their own warehouses. The prices of self-owned facilities will rise and businesses would prefer using shared storage facilities provided by the logistics providers, cold chain suppliers etc. As such, it will be more profitable to use cold storage warehouses than own facilities. Therefore, the share of cold storage might go up to 35%. The demand for cold transport might also increase due to the rising fuel costs and increased dependency on shared transport delivery systems.

What do you think is the split between domestic and global demand for Portuguese cold chain transportation?

It’s about 70-80% domestic and 20% international. That is because the cold chain companies in Portugal haven’t been able to market themselves very well or compete with the competition from Italy/Spain. However, in recent years, we have been able to get global partners and cold-chain export has grown by 10% in the last 5 years. This is mainly driven by tourism and good quality services available at lower cost in Portugal than other countries.

What are the major modes used in the cold transportation segment in Portugal?

Air transport is the least used mode constituting only around 5-10% due to the very high costs incurred in air cold transport. For sending some products to Spain from Portugal by air, it would take around €2000 whereas through land, it would take just €100 or €40 by sea. Land and Sea have an almost equal share of around 45% in terms of international trade. Cold transport through sea is highly important due to the export of a variety of products like fish, meat etc, especially to countries like Angola and Mozambique and import from countries in South America etc. Sea transport is also used for transport to the different Portugal islands. In terms of domestic transportation, land constitutes 60%, followed by sea having 30% share and lastly air.

For any queries or feedback, reach out at namit@kenresearch.com

What is the usual capacity utilization rate of cold warehouses in Portugal?

Oh it’s 100%. The storage capacity is never wasted and it is highly utilized throughout the year which is indeed surprising. This is due to the demand for cold storage being very high in all seasons either due to tourism, schools and colleges, festivals like Christmas etc. If a new cold warehouse is set up, it most likely will fill up completely within 3 weeks or a month. And this is the case in the entire industry.

What are the temperature ranges followed in Portugal’s cold chain industry?

You have 3 kinds of temperature ranges: Frozen, Chilled and Ambient but we mostly use the first two. The cold goes between two degrees and four degrees Celsius. And the frozen goes till -15 or -18 degrees. But then you have some special products that must go at some special ambient temperatures for example, at 15 degrees or 18 degrees. Ambient range starts from around 12 - 18 degrees. An example would be of wine that must be transported at that temperature. Chocolate must be stored and transported at 14 degrees. So there are some enterprises that specialize in that but mostly it's the cold and the frozen.

If we talk about the share, frozen takes up about 70% of the market and it has grown a lot in the last few years due to high demand for storage and transportation of products like fruits, vegetables, cheese, bakery items etc. Because if an item is frozen, the shelf life increases which is suitable for both producers and consumers. In the next few years, the share might even rise to 80%. Cold/chilled temperature takes up about 25% and lastly 5% for the ambient environment.

Cold chain caters to different industries like fruits and vegetables, meat and poultry, pharmaceuticals etc. Where, according to you, is the highest demand for cold chains?

This highly depends on the time of the year or the season. At times, there is a high demand for fruits and vegetables, in some seasons, the demand for fish is high and during Christmas time, the demand for meat increases.

If we talk about the yearly volume, the food sector is the biggest customer of the cold-chain industry in Portugal having 50% share with second being pharma at 30%. Within the food sector, highest demand is from sea food (around 30-35%), followed by fruits and vegetables (25-30%) and bakery/desserts (15-20%) and lastly meat products (10-15%).

What is the usual capacity utilization rate of cold transport in Portugal? Could you tell me about the different types of trucks used?

That depends, on an average the utilization rate is around 70-80%. The normal medium trucks have a capacity of 33 pallets or 66 pallets for a double decker. These trucks are the most used in Portugal having around 70% share. The large trucks have about 55 pallets or 110 pallets for a double decker. The small ones are also quite popular at around 25% share and have capacity of around 8 or 12 or 20 pallets. The big trucks are not very popular as they cannot be used for transportation to smaller areas and villages and also due to stricter road regulations. These large trucks only came to Portugal around last year due to very strict road rules.

For any queries or feedback, reach out at namit@kenresearch.com
Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249