Thursday, November 9, 2017

Vietnam Mattress Market is Expected to be Driven by Rising Number of International Players, Increase in Demand of Quality Mattress and Elevated Urbanization Rate: Ken Research

Vietnam market has displayed a significant growth at a CAGR of 7.6% during the review period of 2011-2016. The number of hotel rooms has increased from 256.7 thousand in 2011 to 346.9 thousand in 2016
The report titled “Vietnam Mattress Market by Type (Spring, Latex, Hybrid, Foam), Size (King, Queen, Single Size), by End Users (Residential and Non Residential) and Region - Outlook to 2021” by Ken Research suggested a multi bagger CAGR of 7.8% in terms of revenue in mattress market in the next 5 years till 2021.
Vietnam mattress market is a home to several domestic and international players. The international players have a well structured layer of intermediaries such as wholesalers, retailers, online retailers and other distributors and also have their own exclusive brand outlets through which they sell their mattresses to the end users. In addition to this, they have very effective marketing strategy and physical presence in all parts of the country. Kingsdown is an international player operating in Vietnam mattress market which is among the top 15 US bedding producers. It opened its first branded retail showroom in HCM, Vietnam in 2016 as a part of aggressive marketing strategy of expansion in Asia. The Vietnam showroom carries Kingsdown bedding manufactured through long time licensee Far East Foam. Dunlopillo is also an international player which has been in Vietnam for past few years. Mattress licensing group Therapedic International has also made an agreement with Hava’s Mattress co. ltd. in Vietnam in July 2017 with an aim of strengthening its presence in Southeast Asia region. Hava’s will produce and distribute at least three lines of Therapedic mattresses in Vietnam. Vietnamese consumers are generally loyal to domestic brand and products which is an important factor for purchasing any product in the country. .
With the increase in technology, various types of mattresses have been introduced in the Vietnamese market including customized mattress, mattress for toddlers, waterbed, airbed and others. Improved and advanced technology for hybrid mattress manufacturing and mattress variety coupled with the increasing marketing efforts by the mattress companies to enhance the knowledge of customers has triggered growth in the Vietnam mattress market over the years. The growing awareness among the consumers has led to the market shift from a price sensitive lot to the quality sensitive customers. Moreover, poor quality mattress pose several health related side effects for the customers such as drowsiness, back pain, obesity, lung & throat irritation, weak immune system, memory issues, heart conditions, joint soreness and reduced libido. This has led people to switch to quality therapeutic mattresses according to their personal needs. In addition to that, rise in disposable income of the people also plays a significant role in the growing demand for luxury mattress.
The Vietnamese population has been moving from the rural parts of the country to the urban areas due to employment or job-related reasons, education purposes, marriage reasons, to have better living standards and quality of life and various other reasons. This shift has led to increase in the demand of residential area hence leading to further increase in the requirement of mattresses. Urbanization has encouraged the population to shift from rural areas to urban areas where awareness about the quality mattress is higher. This led the people to purchase the quality mattresses even at a higher price.
Key Topics Covered in the Report:
Trends in Mattress Industry
Mattress Imports in Vietnam
King Size Mattress Market Size
Spring Mattress Vietnam
Market Outlook Mattress
Mattress Manufacturers in Vietnam
For more information on the research report, refer to below link:
Related Reports by Ken Research   
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Vietnam Mattress Market Outlook to 2021: Ken Research

The report titled “Vietnam Mattress Market by Type (spring, Latex, Hybrid, Foam), Size (King, Queen, Single Size), by End Users (Residential and Non Residential) and Region - Outlook to 2021” provides a comprehensive analysis of mattress market in Vietnam. The report covers market size, segmentation on the basis of size, type, local and international players, urban and rural demand, region, distribution channels and sectors. The report also covers market in different aspects such as trade scenario – value chain analysis, competitive landscape and company profiles for major players in Vietnam mattress market. The report provides detailed overview on future outlook & projections with analyst recommendations for the industry.
The report facilitates the reader with an identification and in-depth analysis of the existing and future trends, issues and challenges prevalent in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for mattress manufacturers, mattress raw material manufacturers, retailers, franchisees, home furnishing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Market Potential
Vietnam market has displayed a significant growth at a CAGR of ~% during the review period of 2011-2016. Growing demand from residential and commercial sectors in the country has amplified the size of the mattress industry in the country. The hotel industry in the country has grown with more number of hotels and rooms supply in the country. The hospital beds have increased from ~ thousands in 2011 to ~ thousands in 2016. This has directly increased the demand for the quality mattresses in the country. Vietnam mattresses market has grown from USD ~ million in 2011 to USD ~ million in 2016. The production volume of the mattresses has also increased from ~ thousand in 2011 to ~ thousand in 2016. Also, growing brand endorsement and marketing initiatives by the companies in the country has increased the customer base of the companies. The average price of a mattress is around USD ~ in Vietnam.
Market Segmentation of Vietnam Mattress Market
By Size of Mattress (King, Queen and Single)
King size mattresses are the most preferred mattresses in Vietnam and contributed ~% of sales volume to the mattress market in 2016. In Vietnam, houses don’t have any space constraints because of which people in the country prefer king size bed ad mattresses. Queen size beds have contributed a share of ~% in terms of sales volume in 2016. Growing number of nuclear families in the country have triggered the demand for the queen size mattresses in the country. In 2016, the single size mattresses have added the share of ~% in the overall mattress market in terms of sales volume. The end users for single size mattresses majorly represent non-residential customers such as hotels, hospitals, private clinics, college hostels and others. Other mattresses include children mattresses, toddler mattresses, double mattresses, supreme king mattresses and customized mattresses.
By Type of Mattress (Latex, spring and others)
Latex mattress has dominated the market in terms of revenues with the share of ~% in the 2016. There is a considerable demand for Latex mattresses because of its excellent air circulation which is provided by the open-cell natural structure of latex and by pinhole patterns purposefully created during manufacturing. Spring mattresses have added a share of ~% in 2016 in the revenues of the country. Households, hotels, hospitals and others mostly prefer to buy them. Other mattresses include foam mattresses, coir mattresses, airbed, waterbed and other therapeutic mattresses.
By Local and International Players
In 2016, local players have dominated the market in terms of revenues of mattress industry with ~% share in Vietnam owing to the ethnocentric customers present in the country. International players have contributed percentage of ~% in the terms of revenues of the Vietnam mattress industry. Few number of international players of mattress leads to less revenue generation compared to local players.
By Urban and Rural Demand
The urban demand for mattress in the country has contributed ~% share to the revenues of Vietnam mattress market in 2016 owing to the rising population in urban areas. The growing urban population and the gradual shift of the people from rural areas to urban areas have triggered the demand for mattresses in the country. The rural demand for mattress in the country have contributed share of ~% in the revenues of overall mattress market in 2016. Most of the rural population in the country prefers local mattresses from unorganized market or they have their own home made mattress.
By Region (Ho Chi Minh, Hanoi, Da Nang and Hai Phong)
Ho Chi Minh City is the economic center of Vietnam and accounts for a large proportion of the economic growth of Vietnam. HCM dominated the Vietnam mattress market in 2016 by contributing ~% of revenue share. Organized players such as KYMDAN, Hava’s and others are known for their well structured layer of intermediaries such as wholesalers, retailers, online retailers and other distributors in their distribution channel. In 2016, Hanoi held a revenue share of ~% in the overall mattress market. Major mattress players including KYMDAN and Everpia JSC have their presence in the city which further has surged the demand from Hanoi. Da Nang being the largest city in Central Vietnam with a population of ~ added third highest revenue share accounting to ~% revenue share in the mattress market in Vietnam in 2016. Hai Phong is a major North Eastern city in Vietnam and accounted for ~% revenue share in the mattress market of Vietnam. Other areas include Hue, Can Tho, Bien Hoa, Nha Trang, Buon Ma Thuot and others.
By Distribution Channel (Retail, Direct and Online)
Retail distribution channel has dominated the mattress market in Vietnam with a revenue share of ~% in 2016. Retail distribution represents the sale of mattresses through exclusive brand outlets and multi-brand retail outlets to the residential and non-residential customers. Direct distribution channel represents the sale of mattresses directly by the manufacturer to the end user. It accounted for a revenue share of ~% in the overall mattress market. Online distribution channel accounted for a revenue share of ~% in 2016 as the population prefers to buy mattress through retail or direct channel.
By Sectors (Residential, Hotels, Hospitals and Others)
Residential sector has contributed highest revenue share in the Vietnam mattress market in 2016 accounting to ~% owing to the rising residential sector and population of the country. The rate at which the residential sector customers change the mattress is higher as the purchases are frequent compared to the hospitality sectors. Hotel industry has contributed a share of ~% in the revenues of the mattress industry of Vietnam in 2016. Hospitals contributed ~% revenue share to the mattress market in the country in 2016. Other customers include retail, corporate and others.
Competitive Landscape
Vietnam mattress market is concentrated with few domestic players having the major market share including KYMDAN, Hava’s Mattress, Lien A Mattress and Far East Foam Vietnam owing to the ethnocentric customer base in the country. International players include Dunlopillo, Therapedic and Kingsdown. KYMDAN is the leading player in Vietnam mattress market operating since 1954 and had contributed highest revenue market share in 2016 with established brand name. Players compete with each other on the basis of price, quality, brand name, warranty, delivery and others. The mattress companies in Vietnam have various distribution channels including stores, agents and dealers to increase the penetration in the market. 
Future Potential of Vietnam Mattress Market
Vietnam mattress market is expected to grow at a five year CAGR of ~% during the period 2016-2021. The market is expected to increase from USD ~ million in 2016 to USD ~ million in 2021. The growth is anticipated to be due to the increase in the awareness in population about the requirement and use of type of mattress, surging urbanization rate, rising income, increase in the number of companies offering the products and gamut of mattress varieties.
Key Topics Covered in the Report:
Vietnam Mattress Market Overview and Genesis
Value Chain Analysis in Vietnam Mattress Market
Vietnam Mattress Market Size
Vietnam Mattress Market Segmentation
Trade Scenario for Vietnam Mattress Market
Trends and Developments in Vietnam Mattress Market
Issues and Challenges in Vietnam Mattress Market
Vietnam Mattress Market Overview
Therapeutic Mattress Market Vietnam
Luxury Mattress Vietnam Sales
Mattress Imports in Vietnam
Mattress Sales Hotel Vietnam
King Size Mattress Market Size
Vietnam Mattress Trends
Vietnam Mattress Industry
Trends in Mattress Industry
Sales Forecast Mattress Vietnam
Revenue Growth Mattress Vietnam
Value Chain Analysis Mattress Vietnam
Vietnam Mattress Market Future Outlook
Porter’s Five Force Analysis of Vietnam Mattress Market
Decision Making Process in Vietnam Mattress Market
Competitive Landscape of Major Players in Vietnam Mattress Market
Product Portfolio of Major Players in the Vietnam Mattress Market
Vietnam Mattress Market Future Outlook and Projections
Macroeconomic Factors affecting Vietnam Mattress Market         
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Wednesday, November 8, 2017

Philippines Lubricant Market is expected to Reach USD 690 Million by 2021: Ken Research

Philippines Lubricant Market by Application (Automotive and Industrial), Philippines Lubricant Market by Type (Mineral, Semi Synthetic and Synthetic), Philippines Automotive Lubricant Market by End Users (Commercial Vehicles, Passenger Vehicles, Marine and Aviation), Philippines Automotive Lubricant Market by Distribution Channels (Commercial Vehicles, Passenger Vehicles, Marine and Aviation), Philippines Industrial Lubricant Market by End Users (Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity and Medical),  Philippines Industrial Lubricant Market by Distribution (Distributors, OEM Workstations and Others, Trends and Developments, Market share of Major Players (Shell, Chevron, Petron, Exxon Mobil, Phoenix, Castrol and Others), Future Outlook and Projections
  • Lubricants market in the Philippines is expected to gain high revenue in the future due to continuous increase in the sales of automobiles in the country.
  • Boosting industrial sector with increasing number of manufacturing establishments is expected to assist market in the growth of consumption and revenues.
  • Growing numbers of domestic and global players in the space are anticipated to be among the major factors driving the overall lubricant market in the Philippines.
Lubricant market of the Philippines is highly competitive with few players operating in the space to cater the fluctuating demands of the customers.  Owing to the booming energy sector of the Philippines, the country is anticipated to witness an increase in crude oil imports to meet the growing demand of various sectors over the long term. The initiative of the government and tourism department with a long term view to connect all islands of the Philippines through sea route is expected to enhance the marine transportation, thereby leading to more lubricants being consumed by the ships and boats. Moreover, the growing concept of RO-RO services for intra-island trade and tourism is anticipated to boost the overall consumption of lubricants during long term.
Automotive and transport industry fleet size has been the largest consumer of lubricants in the Philippines during 2016. The overall lubricant market has grown due to the fleet of vehicles, which has been amplifying over the period 2011-2016. Rising trade due to the growing industries in the Philippines is estimated to be the major factor behind the increasing sales of commercial vehicles in the country over the recent future, there by having a positive impact on the consumption of lubricants. The growing manufacturing plants set up by both domestic and global players across various industries are also anticipated to augment the consumption of industrial lubricants in the country.  Increasing number of machinery to be installed in the industrial plants is expected to boost the demand for lubricants in the country.  Revenues from sales of lubricants to the automotive sector are projected to incline due to increasing number of customers switching to the use of expensive semi-synthetic and synthetic lube oils.
Ken Research announced its latest publication on “Philippines Lubricants Market by Type (Mineral, Semi-Synthetic and Synthetic), by Application (Automotive – Passenger, Commercial, Marine and Aviation and Industrial – Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity and Medical) - Outlook to 2021” suggested a rapid growth in the Philippines lubricants market, majorly driven by boosting crude oil imports, thus assisting market players to offer more lubricants in the country. Influx of foreign brands and rising demand of the population to switch to synthetic lube oils are attracting large number of potential players to enter the space.
Key Topics Covered in the Report
Philippines Lubricant Market
Industry Growth Lubricant Philippines
Opportunities in Lubricant Industry
Opportunities in Lubricant Industry
Lubricant Consumption in Philippines
Shell Lubricant Price Philippines
Philippines Lubricant Distributors
Automotive Lubricant Market Growth
Revenue Lubricating Oil in Philippines
Synthetic Lubricant Share in Philippines
Mineral Oil Lubricant Market Philippines
Hydraulic Oil Industry Size Philippines
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Egypt Car Finance Market Size in Terms of Credit Disbursed in USD Million, 2011-2016- Ken Research

The financial services system in Egypt is less developed in comparison to other countries. The local inhabitants are less aware of the financing options available for them. Financial inclusion is not practiced within the country. The state owned banks that have a considerably equal reach in both rural and urban areas dominate the banking system, possessing nearly 70% share in the market as against the private banks. Auto & Car Loans in Egypt, New Car Sales in Egypt, Interest Rate Car Loan in Egypt, Used Car Sales in Egypt, Used Car Sales in the Egypt They lag in efficiency as well as in terms of financial intermediation in comparison with the private banks that concentrates only in urban areas.
Accessibility to finance is a major factor that influences the growth of any financing market of a country. In Egypt financing segment is dominated by the banks.
The car finance market has always been dominated by banks. However, dealership financing also has a significant role in the market. People in the country are largely dependent on dealership financing in the country as the terms and conditions and the procedures of financing through a dealer is less complex.
Egypt car finance market has showcased a consistent growth trend until 2015 during the review period, 2011-2016 at a CAGR of ~%. In 2016, there was a fall in the credit disbursement for passenger and commercial cars as a result of the macro economic challenges faced by the country. The growth exhibited by the market during the initial five years of the review period was supported by factors such as increasing demand for new and used cars, rising car prices, growth in interest rates and other factors.
Which Car Is Financed The Most? New Or Used Car?
Banks and private financing sector in Egypt finances both new and used passenger and commercial cars. The major difference is in the interest rate and the minimum salary requirement based on which the customer avails the car loan. Used car finance bears a higher interest rate compared to the new car finance. The market is dominated by new car finance with a share of ~% as of 2016 on the basis of credit disbursed. The past five years’ trend displays that, though the market is dominated by new car finance, used car finance is also gaining significant rise in the share every year during the review period, 2011-2016. Major factors that influence a person to choose a financing option at the time of a car purchase are their income and the car’s price. Generally, new cars are priced higher than used cars. Average price of a new car in Egypt is EGP ~ and the average price of a used car is EGP ~. The economic and financial condition of the country clearly depicts that the average disposable income of households are considerably moderate. Thus, for buying a new car, people in the country prefer to depend on a financing option available. Moreover, due to the high value of the new car the credit disbursed for new car will also be higher in comparison with a used car. The penetration of new car finance in 2016 was recorded as ~%.
Used cars were priced much lower than a new car during the beginning of the review period due to which paying off its price in lump sum was not a huge burden for a salaried individual or a taxi driver. Furthermore, the amount lent for a used car will be smaller since the car’s value is smaller.
However, it can be observed that the credit disbursed for used cars have also increased over the years. This is due to the increase in the prices and the demand for used cars. During 2016, the credit disbursed for both new and used cars fell by ~% and ~% respectively. This was due to decline in the sales of both new and used cars due to the rise in the car prices amid the foreign reserve crisis, and devaluation of the currency. The used market had showcased a price rise of ~% in 2016 against 2015, due to the rise of new car prices. The price increase in new cars segment has forced the owners of used cars to delay the decision of selling them, expecting a further rise in the price.
Used cars attract a higher rate of interest and generally the minimum salary requirement for used cars is also high. The maximum amount of loan granted in case of used cars also usually lesser than a new car.
The credit disbursed for both new and used cars were impacted by the weakening of Egyptian pound that made the imports of components expensive. The car manufacturing in Egypt is an import driven market and as the imports becomes expensive the cost of production increases that directly raises the product’s selling price.
In Egypt, the maximum repayment period of car finance by the banks is up to seven years and private financing is extended up to five years. This applies for both new and used cars. On the basis of number of new cars financed, the market is dominated by tenure of five years with a share of ~% in 2016. Major factors that influences the choice of tenure by the customers is the ticket size of the car and the repayment capacity of the borrower. The major reason for the preference towards a longer tenure is the higher ticket size of a new car. A new car costs high and the installment amount to be paid by the customer would be higher in case of short tenure. Another major factor that has raised the share of five years tenure is the share of private financing in car loans. ~% of the car loan is processed through private financing and the maximum loan tenure offered by them is five years.
A factor that may also influence the choice of tenure will be the reselling price of the car. A car depreciates every year by ~% and the resale value of the car will drop to a much lower amount than for what it is purchased. Additionally, if the customer has plans to re-sell the car early and upgrade to a better car, a car with lesser or no loan amount is easier to sell. This is due to less paper work involved and easy transfer of ownership of the car.
Topics Covered in the Report
  • Auto & Car Loans in Egypt
  • New Car Sales in Egypt,
  • Interest Rate Car Loan in Egypt
  • Used Car Sales in Egypt,
  • Used Car Sales in the Egypt
  • Auto Loans Market in Egypt
  • Car Loans Industry in Egypt
  • Cairo Auto Loan Market
For further reading click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/egypt-car-finance-market/124560-93.html

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 Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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