The Used Car Industry in Philippines has generated a revenue of USD 75 Mn in the current year. Will Philippines continue this growth trajectory? Ken Research

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1. 64.7% of the Filipino population is in the age bracket of 15 and 64 years old, thereby demanding more used car

More trends and Developments Used Car Market Philippines

• As of 2021, ~64.7% of the Filipino population is in the age bracket of 15 and 64 years old. This states that a huge chunk of the population consists of Millennials, who don’t have the financial stability to afford a new vehicle; hence they resort to the pre-owned units in order to meet their requirement of a dream car.
• Online used auto portals like Philtokse.com, Auto Deal, Carmudi.com not only assist the individual find the desired car variant, but also successfully simplify the buying process. As most of the young population in the country is internet savvy, these platforms help them to make better decisions when it comes to purchasing a used car from the dealers.

2. Social Media spurring demand for pre-owned cars in unorganized market

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The online social media websites and chat windows in Philippines are the main growth driver of the unorganized sale of pre-owned vehicles in the country.

• The reason being that the vehicles can be listed on the personal web pages of the individual car seller which is 100% free of charge.
• On the other hand, they can approach a freelancer/ multi brand dealer having a Facebook page in the name of their dealership.
• These free lancers can also list the vehicle for a negligible price point on behalf of the Individual seller. The unorganized market is very big and has to thousands of buyers and sellers who are willing to buy used cars due to price differentiation.

 3. Thinking of buying a used car? Consider buying a repo, also known as a bank repossessed car

The repossessed car market of Philippines is dominated by banks and fewer non-banks. It has been witnessed that even banks at times list their repossessed units on online portals like Philkotse.com, AutoDeal.com or more frequently on Automart.Ph these days. The demand for used automobiles has increased as a result of the lower price of these repossessed vehicles, fueling the expansion of the Philippine used car industry Lower Prices With car prices increasing in the Philippines due to a lot of economic reasons, cheaper options such as repossessed cars have become a more attractive option for budget-conscious car buyers.

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Banks sell repossessed vehicles for much less than their worth. Some banks like Maybank even offer occasional promo prices. Banks aren't looking to make a profit from selling repos. They need to dispose of these second-hand cars as soon as possible to reduce the costs of storing and maintaining the vehicles.

A repo car purchase can save you up to 20% to 40% off the cost of a brand-new car.

2 crucial factors that will help Indian Multi-Brand Car Service Market to enhance and expand in future: Ken Research

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Multi-brand car service centers provide services for a plethora of car brands. These multi-brand service centers provide warranty on car services along with genuine OEM and OES flexible spare parts, 100% transparency, and accountability with upfront pricing. All these services are gaining the trust of the consumers and attracting a large number of car owners for servicing. Due to this, the market registered~37% growth rate during 2015 and 2020. Value-added services like real-time service status and doorstep car delivery are expected to gain high traction in the future. Besides it, there are more factors that will help the multi-brand car service sector to expand in the coming years. To know about those factors, keep reading.

1. Car Servicing in India is growing on the back of increasing car density & diminishing average age of car ownership

2. Authorized Service Centers & Independent Garages form the 2 major alternatives for car service in India

3. Multi-Brand Car Servicing is a blend of Authorized Car Service & Independent Garages

4. Multi-Brand Car Servicing is emerging as the ideal solution for Car Owners in India

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5. Emerging Revenue Sources for Multi-Brands include Enterprise Car Servicing & Spare Parts Supply to Independent Garages

6. Mergers & Acquisitions have enabled Multi Brand Car Service companies to expand their regional presence and market share in India

7. To expand more, Multi-Brands are now encouraging automotive enthusiasts & entrepreneurs to take up franchisees

7.1 Further, Technology plays a crucial role in enhancing convenience, accessibility & adoption of multi-brand car service centers and will help the market to flourish in future

To Know more about this Whitepaper, Visit this link:-

India Multi-Brand Car Service Market

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Various Government Plans Enable the Global Agriculture Equipment Market to Reach Around USD 150 in 2021: Ken Research

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Increasing Awareness Regarding Equipment Benefits and Favorable Government Policies Collectively Strengthening Global Agriculture Equipment Market; collectively helping the market to cross USD 250 Bn mark by 2027, says a report by Ken Research.

1. How technology may address challenges in agriculture? Increasing awareness of machinery benefits amongst farmers boosts the global farming machinery industry.

Technological Incorporation in Agriculture: Click to know more

Agriculture causes about 20% of human-caused greenhouse gas emissions and uses up to almost 90% of the world’s freshwater. Around 40% of food grown goes unfed. China loses roughly 35 million tons of grain before retail each year, or about 5% of the 700 Mn tons of grain produced in 2021. Human ingenuity, scientific breakthroughs and technological advances have given the world an unprecedented array of tools to transform the food system and mitigate its impact on nature and climate. Five of every six farms in the world are smaller than two hectares (the size of about three soccer fields) and collectively they produce a third of the world’s food. Whereas China, smallholder farmers account for as high as 80% of food production.

As a primary sector that employs millions of people directly and throughout the supply chain, agriculture has lagged behind many other sectors in digitalization and application of digital technology. Fortunately, however, it is not too late to buckle up, but the sector needs more investment, more new ideas and more involvement.

2. International Governmental Initiatives for AI in Agriculture; Giving Boosts to the Technological Incorporation in the Farming Worldwide.

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A rising number of international organizations, governments, non-governmental organizations, and non-profits are focusing on data-driven agriculture programmes. Their efforts include teaching, facilities, grants, and financing, as well as open data and data gathering infrastructures. Data gathering infrastructures are critical since they serve as the foundation for substantial AI advances in agriculture. Examples include FAO, GARDIAN, CIMMYT, USDA, and GODAN.

3. Global Food Demand has been Rising; Ultimately, Shifting the Farming Machinery Market at an advantageous Situation.

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Agricultural practices are and will be shifting toward an efficient data driven industry for an obvious reason; the global food demand is increasing drastically. The world population by 2050 is expected to be almost 10 bn, and the world food demand is expected to increase by around 55%-95% between 2005 and 2050.  Crop yield around the world is estimated to be affected adversely by climate change. The demand for more food is to be addressed by adopting technologies in Agri-business that improve efficiency in sustainable and climate friendly manners. Wide spread adoption of precision agriculture is the most effective approach to improve yield and save on costs with minimal environmental footprints. This current transformation opens up doors for farmers and growers to adopt AI and data driven practices for an obvious reason, expected to gain momentum in the near future.

Major Players

• AGCO Corporation
• FlieglAgro-Center GmbH
• Agromaster
• Amazone Inc.
• APV GmbH
• Bellota Agrisolutions
• CLAAS KGaAmbH
• CNH Industrial N.V.
• Deere & Company
• Escorts Limited
• HORSCH Maschinen GmbH
• ISEKI & Co., Ltd.
• J C Bamford Excavators Ltd
• Quivogne CEE GmbH (Kiwon RUS LLC)
• Rostselmash
• KRUKOWIAK
• KUBOTA Corporation
• KUHN SAS
• LEMKEN GmbH & Co. KG
• Mahindra & Mahindra Ltd.
• MascarSpA
• MaschioGaspardo S.p.A
• MaterMacc S.p.A
• Morris Equipment Ltd
• SDF S.p.A.
• Tractors and Farm Equipment Limited (TAFE)
• Väderstad AB
• Valmont Industries, Inc

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

• Farm Machinery Providers
• Agriculture Equipment Distributors
• Agriculture Equipment Manufacturers
• Government Bodies & Regulating Authorities
• Existing Farm Services providers
• New Market Entrants
• Investors

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: –

Global Agriculture Equipment Market

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Unpacking South Africa's Logistics Market: How National Infrastructure Plan 2050, Digital Platforms, Cold Chain, And Retail Industry Will Drive Growth To Over USD 40 Bn By 2026? - And What Lies Beyond? – Ken Research

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1. The 4 Key Components of Logistics System Integration: Building Effective Supply Chain Networks.

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2. The Role of Infrastructure Development in Driving Logistics Sector Growth: Meeting the USD 340 Bn Funding Need from 2016-2050.

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3. Revolutionizing the Logistics Sector: How Digital Platforms, Sea Transport, Retail, and Cold Chain Industries are transforming the Landscape.

South Africa's internet connectivity is facilitating the digitization of logistics management, enabling real-time tracking, route optimization, and AI integration to overcome skill shortages and urban-rural divides. The country has a high demand for cold storage facilities due to lifestyle changes, urbanization, and growing demand for perishable goods and pharmaceuticals. Imperial Cold Logistics recently built a new warehouse in Johannesburg at a cost of USD 8.83 Mn. Sea transport dominates the freight market, with 96% of exports conveyed by sea, and retail sales generate the highest revenue at USD 11.55 Bn in 2021, driven by events like Black Friday.

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

South Africa Supply Chain Industry

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Technology or Government key initiatives- who plays a big role in enabling the Philippines e-commerce logistic market to reach PHP 67 billion in the next five years? - Ken Research

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The escalation in the number of smartphones in the country, the fast-growing middle-class population, high consumer confidence, changing consumer preferences, etc. have augmented the growth of e-commerce leading to surging demand for e-commerce logistics as well in the country. The Philippines e-commerce is anticipated to expand with a double-digit CAGR in the next few years.

1. Philippines E-commerce logistics grew at a CAGR of ~40% between 2019 and 2020 owing to the rising preference for online shopping due to the perks attached to it

Online shopping trends in the Philippines: Click to know more

The Philippines’ E-commerce logistics market has been observed in its early growth stages of development, thus growing year on year majorly due to rising E-retailing coupled with an increase in the number of online orders. The number of online shoppers has increased tremendously due to the Convenience & Huge Discounts offered by Leading Marketplace Platforms. Moreover, Expansion in Internet Services (~71% internet penetration¹ in 2020) coupled with increasing demand for online logistics services have collectively given a boost to the development of the E-commerce logistics industry in the Philippines.

2. However, the country has some logistics constraints that inhibit growth but the government is on the way to resolving the bottleneck and helping the market to thrive

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The e-commerce logistics market has several bottlenecks. Existing burdensome and complicated customs processes have been the subject of a lot of complaints, even for low-value shipments.

Moreover, a lack of awareness of customs taxes and duties has resulted in creating confusion among those Filipino consumers who buy online from international websites and those who ship local products to international buyers. Also, a unique challenge for an online merchant in the Philippines is the low trust among Filipino consumers towards credit cards. According to a Money Max survey, many Filipinos are reluctant to get credit cards because they fear it will lead to overspending and debt. To curb these issues, the government has been taking several initiatives

3. Additionally, the technology disruption will enhance the e-commerce shipment in the country and enable the logistic sector to boom with double-digit growth in the future

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The Philippines e-commerce logistic market is poised to witness technological disruption. Machine Learning and Big Data Analytics can resolve the existing inefficiencies in the market. Further, up gradation in Technology such as GPS Monitored Robots, Drones, Inbuilt RFID, GPS, IoT, and telematics that will be used for tracking Inventory. This will lead to an 80% increase in damage protection, 25% rise in vehicle utilization, and a 20% growth in line haul visibility.  Also, real-time tracking in the last mile delivery will enhance the number of deliveries by 35% in the industry. Owing to technological advancement along with government strong initiatives to support e-commerce logistics in the Philippines, the market has a high potential to grow with a double-digit CAGR in the next five years.

Does Indonesia LEV Market have the potential to sustain high double digit CAGR in the future?: Ken Research

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With the rising awareness of a sustainable environment and increasing prices of fuel, the LEV market in Indonesia is growing at a CAGR of ~87% between 2017 and 2021. The industry is in a nascent stage and moderately fragmented, where more players are expected to enter the market. The vision to make Indonesia a free-emission country and strong government support will drive the growth of this market in the future. But are these factors strong enough to enable the LEV market to reach a double-digit CAGR in the next five years? Let’s find out!

1. Building an EV ecosystem in emerging Asia is important for ASEAN countries to accelerate consumer uptake and achieve their climate goals

1.1. Even when the EV adoption rate is low in Indonesia, the country has a huge potential to flourish in the coming years as compared to other South East Asian countries

2. Availability of Nickel, Tax Incentives, Low Electricity Cost are the main growth drivers for the Light Electric Vehicle Market in Indonesia

3. Indonesia rolls out initiatives that offer tax breaks for EVs, in the latest effort to promote and push the use of electric vehicles for the green energy transition in the country

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4. With an influx of investment and accelerated development in the Indonesian EV market, the LEV sector is expected to grow at a CAGR of ~103% between 2021 and 2026

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Indonesia LEV Market

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Diffusion of technology and rising government initiatives will enable the Agri-tech market to reach INR ~11,000 Cr by 2025 in India: Ken Research

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The Agricultural sector of India is undergoing a catalytic transformation. The industry is imbibing and adopting innovative technologies to improve the efficacies of farming operations, thereby enhancing yield. This has led the Agri-tech industry in India to grow at ~85% growth rate and the market is poised to reach ~11,000 Cr by the next five years.

1. The India Agri-tech market is flourishing with double-digit growth owing to the rapid increase in the number of Agri-tech startups with ~47% CAGR from 2014 to 2020

Growth of Agri-tech Startups in India: Click to read more

A number of Agri-tech startups in India have witnessed a sharp spike from ~59 in 2014 to ~600-700 by the end of 2020, growing at a CAGR of over ~47.0%. ~75% of agritech startups have incepted post-2013, with 2015 and 2016 witnessing the emergence of a maximum number of players. The adoption of agri-tech solutions among farmers and farmer organizations continues to be low and startups experience long gestation periods to develop trust in the community. Presently, around 8 Indian states including Delhi, Haryana, Tamil Nadu, etc., are each home to at least 25 agritech startups. Maharashtra and Karnataka together account for ~50% of the agritech startups in India. Many startups have even pivoted to B2B from B2C models in the last 5 years due to operation intensive nature of B2C models despite higher margins.

2. Rising number of start-ups has driven over 1 billion USD in investments in the agri-tech market in India in the last five years

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India has registered an impressive number of funding for agritech start-ups till 2021. Dehaat raised $30 mn in a Series C financing round led by Prosus Venture in January 2021. The company plans to utilize the latest round of funding for expanding operations in Madhya Pradesh and Rajasthan. Agri financial solutions provider, Sammunati raised INR 89.6 crores ($12 mn) in January 2021 via debt from two financial inclusion funds, FMO-Entrepreneurial Bank and Triodos Investment Management. Cropin raised $20 Mn in a Series C funding round led by Singapore-based PE firm, ABC World Asia. The company aims to use the latest funding for global expansion & driving the European market.

3. The government is actively taking several initiatives to improve the Agricultural Infrastructure and boost the Agri-tech market to reach over INR 11, 000 Cr. in India

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The Government of India has been increasingly adapting to the innovations and changes in the agricultural sector to keep up with the pace at which the sector is developing globally. Here, infrastructural development plays a major role in building a robust Agri-tech sector. The Agriculture Infrastructure Fund (AIF) is a part of the nation’s agriculture fund and has supported more than 18,321 projects totaling INR 13,681 crore. In addition to this, 8,076 warehouses, 2,788 primary processing units, 1,860 custom hiring centers, 937 sorting and grading projects, 696 cold store projects, 163 assaying projects, and approximately 3613 other post-harvest management initiatives and community farming assets, and cold storage projects were established under the fund.

3 Catalysts in Philippines E-Commerce Logistics Market: Is the Growth Sustainable? : Ken Research

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Philippines E-Commerce Logistics market is expected to reach almost PHP 67 Bn in terms of revenue delivering nearly, 1 Bn shipments in 2025.

1. With the Support of Government’s Philippines E-Commerce Roadmap (2015-2020), Philippines E-Commerce Logistics Market Recorded More Than PHP 20 Bn in 2020.

Cross – Comparison: Digital Trends in 2020: Click to Know More

The Country’s Department of Trade and Industry (DTI) developed the Philippines E-commerce Roadmap (2016-2020) with a primary goal of getting online business activities to account for 25% of the country’s GDP by 2020, up from 10% in 2015. The main focus areas are Infrastructure, Investments and Innovation is in the process of building clear rules and support systems for customers and other online merchants.

2. Gadgets & Electronics is the Top E-Commerce Product Category With 33% Share, Followed by Fashion & Footwear With 28% Share in Total Online Purchases.

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Growing awareness among Filipino consumers about global brands as well as preferences for improved and latest fashion trends and technologies has heightened the demand. Moreover, Updated Technology such as GPS Monitored Robots, Drones, Inbuilt RFID, GPS, IoT, telematics will be used for tracking Inventory.  Lately, Gadgets & Electronics is the Top E-Commerce Product Category With 33% Share in Total Online Purchases.

3. Several Government Initiatives Support E-Commerce Market in Philippines to Reach Almost PHP 67 Bn in Terms of Revenue Delivering Nearly, 1 Bn Shipments by 2025.

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• Bangko Sentralng Pilipinas (BSP), along with other industry stakeholders, launched NRPS to increase retail electronic payment transactions to 20% by 2020 and in due course to also improve the country’s economic competitiveness. Self-governing body of direct clearing participants called the Payment System Management Body or PSMB was created on 31 March 2017 to assist BSP. Launch of 2 specific Automated Clearing Houses (ACHs), PESONet on November 8, 2017 and InstaPay on April 23, 2018.
• BBB” program consists of around 20,000 infrastructure projects nationwide, including roads, highways, farm-to-market roads, airports, seaports, terminals, evacuation centers, lighthouses, hospitals, schools, government centers, etc. Average percentage of infrastructure budget to GDP was0% or PHP 932 Bn ($19.1 Bn) in 2017-19. In 2020, budget allocation for the “BBB” program was 4.6% of GDP (PHP 972.5 Bn) due to COVID-19.

The Global Waste Water Treatment Market Was Valued At USD 280 Bn In 2021. Will The Market Achieve A Decent Size During The Forecasted Period? Ken Research

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The global water and wastewater treatment market is projected to grow at a CAGR of 7% owing to rising technological innovation in the market, says a report by Ken Research

1. High cost of treatment alongside a wide number of opportunities provides a balance in the Global waste water management market

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Wastewater is systematically treated in three stages, primary, secondary & tertiary treatment all three of which requires specific skills & expertise. These process are also quite capital intensive. For instance, the development bank of Latin America (CAF) estimated that over the period of 2010-30, USD 80 Bn will be spent on sewerage infrastructure & treatment. A few components that increase the cost of waste water treatment are flow rates of the effluent, water quality, required degree of purity & construction chemicals. Even though the cost of treatment is high, the market provides a vast opportunity for the companies entering the same & has endless profit generation opportunities given the rising rate of pollution & stringent government regulations.

Recent Trends in Global Waste Water Management Market

2. Rising Population has resulted in an urgent need for proper Waste Water management market indicating an increasing demand for the market

As per statistics, the world population is projected to reach 8 Bn. The growing population continues to build pressure on water resources that are already under massive strain. Thus, technologies that promote more efficient use of already available water are increasing. Further, water scarcity, energy savings, and increasingly complex industrial wastewater treatment demands push companies to implement new techniques to optimize environmental and economic performance.

Demographic Trends in the Global Market

3. Increased technology adoption & its subsequent usage by both industries & municipals indicates massive market opportunity.

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According to a survey conducted by the Global Water Leaders Group, COVID-19 has reduced industrial water usage by an average of 27%. However, numerous government bodies and non-profit organizations are taking initiatives to develop awareness regarding hygiene due the pandemic, this is expected to propel the market growth during the post pandemic times. Moreover, with development in technology infrastructure & its adoption is expected to boost the market growth in the upcoming years. The market is expected to reach a size of USD 500 Bn by 2030.

                 Future Trends in Global Waste Water Management

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

Global Waste Water Management Market

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Leading Players in Singapore Auto Finance Market - Ken Research

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The Auto Finance market of Singapore consists of a large number of Domestic as well as international players. However, only the top few players occupy a lion’s share of the market (basis credit disbursed) making the industry highly concentrated. Major Baking Institutions involved in Auto Loans Services in Singapore include DBS Bank, Standard Chartered, OCBC, Maybank, and UOB among others.  Moreover, the government of Singapore is working towards the expansion of Green Car Sales in the country, which is expected to increase the demand for ‘Green Car Loans’ in the future years.

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1. More than 50% Sales in Singapore Automotive Industry are of Used Vehicles mostly due to highly expensive cars in the country.

More than 50% sales in Singapore Automotive Industry are of Used Vehicles mostly due to highly expensive cars in the country owing to high number of additional charges. Singapore Automotive Market is in the growth stage with multiple factors supporting it such as labor availability, R&D efforts, rising income levels and more. Hence, despite the government's policies to reduce the number of cars, there are nearly one million vehicles on Singapore's roads. Cost-effective models or used cars are witnessing strong success as the new cars are highly expensive and the majority of car buyers segment includes the middle class looking for mid-range cars. But the new vehicle sales are expected to witness highest growth rate though Used Cars Sales will continue to dominate the Market in future.

2. Toyota, Mercedes-Benz, Honda, BMW and Mazda were the top 5 OEM Brands which accounted for more than half of Passenger Car Sales in Singapore in 2020

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2020 was a tumultuous year for the entire world, & Singapore’s passenger car market was no different. Compared to 2019 & 2018, every brand sold fewer cars mainly due to the pandemic as well as zero car population growth policy in the country.  2020 witnessed a significant reshuffling of brands. Toyota emerged as the winner this year after trailing Honda to the top step in the preceding two years. Toyota went all in for 2020 with the switch to a strong virtual presence and introduction of TFSSG. Furthermore, Honda occupied third position in the market as new City was its headline model for 2020 and very impressive for the segment, but the decline of the compact sedan market and higher COE prices meant it wasn’t a sure-fire best-seller like it was in the past.

3. Singaporeans are buying fewer cars with time, but the preference for expensive and luxury cars has increased .

Singaporeans are Buying Fewer Cars, but more expensive cars. Declining COE premiums can lead to growth in car sales. Moreover, Car-sharing companies (BlueSG, Tribecar erc) are seeing a continuous spike in revenue & usership. Incentives provided to deregister a car before 10 years – in terms of COE & PARF rebates, thus impacting the average age of cars in Singapore. Despite cancelled COE bidding and closure of showrooms, 40% of new car registrations were luxury cars, as compared to 19-25% last year. Increase of luxury car registrations during the pandemic was seen as a sign of rising inequalities in the country.

4. Use of advanced technology like predictive analysis and focusing on building partnerships can help in growing business.  

When customers shop for a car, they need information about two things: the car itself and how to finance it. Hence, A tighter online integration of information gathering for car buying and car financing can help move a consumer to the next stage of the purchasing process. The solution is an interactive online interface embedded with AI.  The online experience must extend seamlessly into the dealership – for instance, by giving the customer access to terms and pricing details on their mobile app rather than having to rely on the dealer. A company can predict when the customer will be looking for a new car by leveraging external databases, such as credit bureaus, social media, and online searches, and internal data, such as customer risk score, payment histories, and loan to value. By taking advantage of web analytics, a lender can expand their pipeline by 5% to 10%.  Moreover, an intelligent predictive analysis program includes built-in risk-based pricing, so that each person can be given a customized offer.

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

Singapore Auto Finance Market

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