Showing posts with label Market Share.. Show all posts
Showing posts with label Market Share.. Show all posts

Friday, August 25, 2023

Qatar Lubricants Landscape: Pioneering Growth, CAGR Dynamics, and Trailblazing Trajectories: Ken Research

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With a steady sales volume CAGR of 2.6% (2022), induced by important factors like fluctuating crude oil prices and infrastructure development, the market reflects resilience and adaptability.

Storyline

  • Resilient Growth Dynamics: Qatar lubricants market, CAGR 2.6% in 2022, influenced by oil price shifts and inflation rate trends.
  • Diverse Growth Drivers: FDI influx, automotive electrification, manufacturing focus, and tourism boost shape industry trajectory.
  • Market Landscape: Top players dominate, automotive sector key, QALCO's rise, EV transition, and eco-friendly lubricants anticipated.
  • Sustainable Future: Vision 2030, CAGR 1.9% by 2027, hinges on renewables, manufacturing expansion, stringent norms, and industry innovation.
  • As per ken Research, As Qatar strides towards its National Vision 2030, it is poised to grow at a CAGR of 1.9% by 2027, driven by renewables, manufacturing, and environmental standards.

1.Surging Growth, Inflation, and Key Drivers

Qatar Lubricants Market

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The Qatar Lubricants Market has demonstrated an upward trajectory, showcasing a robust growth from 2017 to 2022 & registering a volume-based Compound Annual Growth Rate (CAGR) of 2.6%. The market's growth has been influenced by the spontaneity of crude oil prices which resulted in shifts in lubricants demand as well as revenue patterns.

Qatar's inflation rate also witnessed a notable increase, climbing from 2.30% in 2021 to 4.96% in 2022. Additionally, an increase in construction activities has fueled the demand for commercial vehicles and construction equipment.

Key growth drivers encompass significant factors including the FIFA World Cup 2022, industrial innovations, rising foreign investments, emphasis on manufacturing, and an increasing demand for rental cars.

2.Key Players and Market Overview

Qatar Lubricants Market

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The Qatar Lubricants Market has a moderately consolidated pattern, with the top five companies collectively occupying around 48% of the market share. Key players in this arena include ExxonMobil Corporation, Qatar Lubricants Company (QALCO), Royal Dutch Shell PLC, Total Energies, and Valvoline Inc.

That being said, the major focus of the market having more than 100 lubricants manufacturers is on automotive sector. In 2020, the Qatari lubricants market witnessed a significant dominance by the automotive sector, constituting around 56% of the total lubricant consumption in the country. This underlines the pivotal role of the automotive industry in shaping the lubricants landscape.

3.Stable Growth, EV Transition, and Regulatory Shifts

Qatar Lubricants Market

The present lubricants market in Qatar showcases steady growth, with a projected continuation of this trend in the medium to long term. Notably, substantial investments have been infused into key sectors such as construction, transportation, and manufacturing, attributed to the forthcoming FIFA World Cup 2022.

Moreover, the growing prominence of Qatar Lubricants Company (QALCO) as a domestic manufacturer has introduced heightened competition against foreign counterparts. As the automotive sector experiences a gradual shift towards electrification, a fresh avenue emerges for specialized Electric Vehicle (EV) greases and fluids.

 In line with environmental concerns, the government is anticipated to enforce more stringent regulations, fostering the adoption of eco-friendly lubricants. These multifaceted developments collectively shape the landscape, with Qatar's lubricants industry poised for ongoing growth and transformation.

4.Diversified Growth Drivers Fueling Expansion and Industrial Advancements

Qatar Lubricants Market

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The growth pattern of the Qatar Lubricants Market is fueled by a plethora of key drivers, including the diversification of the oil-dependent economy, increasing Foreign Direct Investment (FDI) influx, surging demand for rental car services, and the rising emphasis on the manufacturing sector. The Qatari government's strategic move to advance domestic manufacturing through the Qatar Manufacturing Strategy 2018-2022 has underlined the importance of sectoral growth, majorly in areas like polymers, plastics, aluminum, additive manufacturing, food & beverage, and pharmaceuticals.

The thriving tourism sector, with around 1.4 million global tourists in 2022, propelled an increase in car rental services. Moreover, Qatar's role as the host of the FIFA World Cup 2022 attracted substantial FDI for infrastructure and industrial development thereby driving construction activities and increasing the demand for lubrication-intensive machinery.

The progressive diversification of the economy from oil-dependency paired with strategic initiatives such as Free Trade Zones (FTZs) and enhanced export capabilities, has enhanced industrialization, further strengthening the market's growth prospects.

5.The Future Potential

Qatar Lubricants Market

The trajectory of Qatar's lubricants market points to advancements at a steady CAGR of 1.9%. In tune with Qatar National Vision 2030, important investments have been made for diversifying the economy beyond oil. This transition is paving the way for major lubricant demand avenues.

 The focus on establishing world-class infrastructure alongside robust logistics facilities is expected to fuel the requirement for new commercial vehicles and heavy machinery, inducing lubricant consumption. Moreover, major investments in petrochemicals, manufacturing, and logistics sectors are expected to enhance lubricant requirements in machinery, processing plants, and transportation fleets.

The stringent global emission norms and environmental standards for machinery and vehicles are anticipated to heighten the demand for eco-friendly lubricants, fostering sustainability in the industry.

Conclusion

In a unique blend of economic diversification, strategic investments, and evolving consumer trends, Qatar's lubricants market has started a transformative journey. With a steady CAGR of 2.6% (2022), induced by important factors like fluctuating crude oil prices and infrastructure development, the market reflects resilience and adaptability.

As Qatar strides towards its National Vision 2030, it is poised to grow at a CAGR of 1.9% (2022), driven by renewables, manufacturing, and environmental standards. The interplay of automotive electrification, regulatory shifts, and industry innovation augments its growth, promising a future fueled by sustainable practices and promising prospects.

Friday, November 30, 2018

Evolution in Newer Technologies Boosts Canada’s Dental Polishing Procedures Future Outlook: Ken Research

Canada Dental Polishing Market
Tooth polishing is a dental procedure adopted by many individuals to prevent teeth problems. Dental polishing procedures make teeth appear whiter, stain-free, and glistening; improving dental health and aesthetics of the teeth. Dental polishing was performed as a part of routine dental prophylaxis in yesteryear; however, with newer technologies in place, dentists do not recommend tooth polishing as a routine dental procedure. Dental polishing is a procedure which not only polishes the teeth but also removes the dental stains, plaque, and microorganisms formed on the outer surface of the teeth making the teeth more vulnerable to stains and more plaque accumulation. Dental polishing is a painless procedure for instant clean and smooth teeth. Various types of dental polishing procedures are therapeutic polishing, coronal/cosmetic polishing, superficial polishing, and selective polishing. Dental polishing procedures are practiced in hospitals, clinics, and research institutes.
According to the study “Canada Dental Polishing Procedures Outlook to 2025”, the increasing demand for cosmetic dentistry will drive the growth prospects for the dental polishing market in Canada. Cosmetic dentistry focuses on the dental appearance of the client, unlike traditional dentistry which focuses on oral hygiene. Canadian population demand for cosmetic dentistry due to increased customer dental awareness via social media platforms, marketing of dental practices, affordable smile makeover services and media coverage that accelerates the demand for cosmetic dentistry coupled with Canada’s dental polishing market. With the advent of new technological products within the dental market along with advanced research is driving awareness among end-users and dentists.
Although tooth polishing isn't an essential dental treatment, it helps patients to feel confident about their teeth and encourages good oral care habits. It was observed that the leading players in Canada’s dental polishing market are competing against each other based on factors such as price, innovation, reputation, distribution, and promotion. Technological advancements and product upgrades are the key factors that strengthen the competitive environment in Canada’s dental polishing market. Increasing awareness about oral hygiene, government-aided medical benefits, and the introduction of new dental polishing procedures or techniques will drive the Canadian dental polishing market over the next few years.
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Monday, November 19, 2018

Expansion of Financial Services with New Technologies to Remain Focus by American Express: Ken Research

American Express is a financial holding company, also known as Amex. It owns two banks: American Express Centurion Bank and American Express Bank. It provides customers with access to products, insights, and experiences that enrich lives and build business success. Its range of product and services includes charge card or credit card, network services, merchant acquisition & processing, point-of-sale marketing & information products, other fee services (fraud prevention, design & operation of customer loyalty programs), expense management product & services, travel-related services, and stored value or prepaid products etc. These services and products are sold through various channels, including online applications, direct mail, in-house teams, third-party vendors and direct response advertising.
American Express has settled an investment arm and a tech lab to explore and support early stage start-ups and young talent with disruptive digital payment ideas. Its main focus is on commerce and payment technologies in order to expand its portfolio of solutions. It has developed various payment and authentication solutions leveraging biometrics, QR codes, and machine learning technologies.
Fintech is formed out of “finance” and “technology”. This is the use of technology in the financial services industry resulting in the introduction of new and innovative products and services, primarily through software. It involves payments, investments, advisory, insurance, big data, and financing etc. Some examples of Fintech are peer to peer or marketplace lending platforms, equity crowdfunding, and robot-advice.
According to study, “American Express: Fintech Ecosystem” some of the major companies that are currently working in the American Express: Fintech ecosystem are Discover, Bank of America, JP Morgan Chase & CO, VISA, Mastercard, US Bank, UBS, CITI, WELLS FARGO, Carlson Wagonlit travel, Lehman ABS Corporation, Hexindai Inc., GOLDEN BULL LIMITED, Elevate Credit, Inc., Dun & Bradstreet Corporation, Easterly Acquisition Corp, Consumer Portfolio Services, Inc., CABCO Series 2004-101 Trust, Blucora, Inc., Corporate Asset Backed Corp CABCO, Enova International, Inc., Discover Financial Services, Enova International, Inc., Green Dot Corporation.
Some benefits of Fintech ecosystem are user anonymousness privacy, transparency of transactions, cheaper & faster transactions, cyber-crime defense and financial inclusion etc. Some risks are involved lack of government intervention, cybercrime, data security/data protection, volatility, low consumer protection, and terrorist financing etc.
In 2017, in American Express, total cards-in-force grew by more than 2.9 million and worldwide spending on these cards increased by 5 percent to a record $1.1 trillion. As well as Card Member loans rose 12 percent, significantly outpacing the industry. During 2017, is principally engaged in businesses comprising four reportable operating segments: U.S. consumer services, international consumer & network services, global commercial services, and global merchant services.
American Express launched the American Express payment, a digital payment solution that replaces plastic cards with virtual account numbers. This innovative digital payment solution offers the convenience of traditional card payments with the added benefit of transaction-level controls, improved reconciliation, and lower fraud risk. American Express payment assigns a specific-use account number to each transaction, and users are able to set a payment amount, date range, and other transaction details.
In 2018, American Express has revealed a new strategic alliance with US-based Fintech Green Sky, giving customers access to its innovative solutions. Green Sky’s technology will give select American Express customers options to finance large purchases in a paperless environment. The multi-faceted ownership will help merchants grow their businesses and give consumers greater flexibility in financing their purchases via enhanced digital payments and financing capabilities.
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249