Philippines is one of the leading markets for Property Classified in South-East Asia region contributing around $20 Mn Revenue in 2021. Will the growth sustain?

 Philippines Property Classified Market is expected to reach around $ 80 Mn markets by 2026, owing to the Accelerated pace to digitization, as per the findings by Ken Research

1. Philippines has the most Single Housing Unit types of Households that account for almost 90% of total Housing units.

                          

Demographic Dividend in Philippines: Click to Know More

With a total population of almost 110 Mn in 2021, there was an average of 370 persons per square kilometer in the Philippines. The proportion of owner-occupied households remained consistently high. Close to 6 in 10 resident households (or nearly 60%) were owner-occupied in 2020, a slight decrease from the 61.7% in 2010.

2. Online marketing is a clear winner in consumer outreach and cost effectiveness in the Property Classifieds Industry. What do the recent trends show?

                            

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Digital media has now become the mainstay of real estate marketers, with developers pivoting their marketing strategies towards digital platforms. Apart from increased brand awareness, continued engagement, and full-stack services, the online segment offers comparatively less cost-per-lead when compared to traditional outdoor or full-jacket print campaigns, thus making it advantageous for developers.

3. The increased investment in the region, and developers and landlords offering flexibility are some of the major growth drivers in the market. What significance it has?

Property owners are offering more flexible costs for existing and new buyers and tenants Post COVID in Philippines. A number of developers are offering extended payment terms, lighter down payment schemes, and waived reservation fees with a limited time offers, thereby providing an advantage for financially prepared buyers. Moreover, Buyers are in better position to search for attractive financial opportunities due to the increase in the number of resale options available in the market. These altogether has been helping the market to grow at a CAGR of 31.4%.

The Great shift: Online grocery market look to transform the last mile delivery in KSA: Ken Research

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The Online B2B grocery is witnessing a huge surge in online shopping due to a Shortage of supply chain financing and COVID that led Bakalas in KSA to adopt various B2B platforms to refill stocks amid the lockdown.

Currently, KSA digital B2B grocery market is growing with a double-digit CAGR owing increase in smartphone and internet penetration in the country. But the market is looking for other factors as well to drive more growth in the industry. Is it technology development? Let’s find out!

1. Saudi Arabia has the largest social media presence in the world with ~39 Mn mobile subscribers amounting to 11% of mobile penetration in 2021

2. Rising population of online shoppers and their demands for easier access to goods and services are giving a major boost to the E-commerce market in KSA

3. The online B2B grocery sector is also witnessing a massive surge in online shopping due to COVID that led Bakalas in KSA to adopt various B2B platforms to replenish stocks during the lockdown

4. The sector has evolved over the years and is also observing the emergence of many new Online B2B Grocery players. Sary and Retailo have been trying to digitize the wholesale supply

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5. Major revenue of online B2B grocery players comes from commission where in the Manufacturers are on boarded by Online B2B grocery platforms

6. Increasing smart phone penetration and higher customer stickiness are accelerating the growth of the Online B2B grocery industry in KSA

7. Tech development like Robots, Drones, and autonomous delivery vehicles are expected to transform the last mile delivery and will fuel the growth of the KSA Online B2B grocery sector in the future

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KSA Online B2B Grocery Market

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India Online Grocery Market Outlook to FY’2027F

Malaysia Quick Commerce Market Outlook to 2026F

UAE Online Loan Aggregation Industry Holds Potential 7x Revenue Growth By 2024. Will UAE Online Loan Aggregation Industry Stand On This Projected Figure? Ken Research

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1. With rich, diverse & unparalleled infrastructure, the UAE Loan Industry driven by high corporate loan demand.

Trends and Developments in UAE Online Loan Aggregator Industry

• Lending majorly dominated by national banks with wide distribution network, occupying >90% of all banks credit disbursal.
• With major investment in hydrocarbon projects & other infrastructure projects, credit demand by government has been rising & expected to further rise in future as well.
• Traditional methods of lending (Friends/family) are still preferred choice for availing loans by people with below avg credit history.
• Banks are undertaking consolidation activities thereby reducing number of branches, cash offices & promoting digital banking services.

 2. Technological Evolution in UAE Banking Services.

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Adoption of Blockchain technology in enhancing “Know- Your-Customer” processes, useful in client onboarding, cross border transfers, payments & compliance reporting.

Tasharuk Platform: Launched by UBF to fight against cyber-attacks on banks. Platform enables cyber threat information sharing, identify threats & enhance defense systems.

Incorporating Artificial Intelligence in data analytics, combatting fraudulent activities & compliance improvement, further increasing focus on customer dealing & decision-making processes.

Increased penetration of virtual banking channels including Mobile (>85%), Online Banking (>90%), Branch/Call center (>90%) and ATMs (~100%).

Noticeable shift among customers to online medium for undertaking non-cash transactions of balance enquiries, fund transfers etc.

3. Housing Loan, one of the fastest growing retail loan segments.

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• In 2019, average house price in Dubai decreased by ~12% reaching to ~AED 2.58 Mn, thereby, shifting from investor led market to owner-occupied market.
• While borrower’s previously preferred fixed interest rates but with Fed Reserve Predictions (2019), noticeable trend was observed for variable rate schemes.
• Customers rising preferences for loan providers/aggregators offering other benefits like property management services & post-handover assistance services.
• Dubai is dominated by expat population (11 times of Emirati population), who are observed to be preferring indirect channels due to high documentation & eligibility requirements.
• Current lending process in The UAE is partially offline; however; with advancements & relaxations in regulations could help in making the process online.

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

UAE Online Loan Aggregator Market

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Global Epoxy Resin Market expected to record a CAGR of ~7% during the forecast period (2017-2028): Ken Research

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What Is The Size Of Global Epoxy Resin Industry?

Global Epoxy Resin market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 15 Bn by 2028.

The Epoxy Resin Market is largely driven by the rapid industrialization and rise in demand from the building and construction industries.

The growing construction industry is expected to augment the growth of the paints and coatings industry. In 2021, the government of Europe planned to construct around 1.5 million housing units. Similarly, the growth in construction activities in countries like Russia, France, the United Kingdom, etc., is expected to drive the growth of the epoxy resin market.

For instance, according to the National Development and Reform Commission (NDRC), in 2019, the government of China approved 26 infrastructure projects with a total expected investment of USD 142 billion. Similarly, in 2020, the Communist Party of China announced that the government is planning around USD 1,400 Bn for a digital infrastructure public spending program.

Epoxies are made with petroleum-based basic ingredients like BPA (Bisphenol A) and ECH (Epichlorohydrin). Thus, changes in the crude oil price have a considerable impact on the pricing of these many raw materials, as well as the basic costs of epoxy resin. Price fluctuations have a detrimental influence on profit margins, particularly for small-scale producers, which hampers the growth of the market.

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Global Epoxy Resin Market by Raw Material

The Global Epoxy Resin market is segmented by Raw Material into DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine and Others.

DGBEF segment held the largest market share of the Global Epoxy Resin Market in 2022, as it improves thermal stability, has strong mechanical properties, and provides moisture resistance. It is used extensively across multiple end-user industries such as building & construction and automotive.

DGBEF is Diglycidyl Ether Bisphenol F, a reaction product of phenol and formaldehyde. This type of epoxy resin is sold as liquids and solid resin dissolved in solvent and prepregs.

DGBEF performs better in resisting chemical attack as compared to other types, owing to its higher density of cross-links.

Global Epoxy Resin Market By Physical Farm

The Global Epoxy Resin market is segmented by Physical farm into Solid, Liquid and Solution.

The liquid form segment held the largest market share of the Global Epoxy Resin Market in 2022. The reason behind the largest share of this segment is a wide area of applications in almost all industries.

Epoxy resin in liquid form prevents corrosion and as a sealant, it protects surfaces, including pipelines, metal, floors, countertops, and equipment parts.

It is often found in transistors and electrical circuits to protect parts from moisture, dirt, dust, and other debris that can damage materials over time.

In March 2019, Axalta launched liquid epoxy-based casting resin system, Voltacast 3310/Voltacast H134. The launch of products expanded the Voltacast product portfolio of casting resins from Axalta’s Energy Solutions business.

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Global Epoxy Resin Market By Technology

The Global Epoxy Resin market is segmented by Technology into Solvent Cut Epoxy, Liquid Epoxy, Waterborne Epoxy and Others.

The liquid epoxy segment dominated the epoxy resin industry in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2028.

This is due to the rapid industrialization and rise in demand for consumer electronics, flourishing the market during the forecast period. The liquid epoxy resin has been used for years as it possesses superior quality and has strong resistance power to corrosion, chemical, heat, and others.

Hence, the growing application of liquid epoxy technology in various end-use industries will positively impact the market.

Global Epoxy Resin Market By Application

The Global Epoxy Resin market is segmented by Application into Paints & Coatings, Wind Turbines & Composites, Construction, Electrical & Electronics, Adhesives & Sealants and Others.

The paint & coatings segment held the largest market share of the Global Epoxy Resin Market in 2022, resins are widely utilized in residential & commercial buildings, shipbuilding industries, automotive, and wastewater treatment plants among others owing to their excellent resistance to stains, cracks, extreme temperatures, blistering, and chemicals.

Epoxy paints are used to impart enhanced finish to the concrete floor. They are increasingly used in the automotive, electrical, flooring, and marine industry owing to their quick drying and tough nature.

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Key Topics Covered in the Report

• Snapshot of Global Epoxy Resin Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Epoxy Resin Market
• Historic Growth of Overall Global Epoxy Resin Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of Global Epoxy Resin Industry
• Overview, Product Offerings, and Strength & Weakness of Key Competitors
• Covid-19 Impact on the Overall Global Epoxy Resin Market
• Future Market Forecast and Growth Rates of the Total Global Epoxy Resin Market and by Segments
• Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
• Analysis of Global Epoxy Resin Market
• 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 Region

Major Companies Mentioned in the Report

• 3M
• BASF SE
• Huntsman International LLC
• Hexion
• The Dow Chemical Company
• Kukdo Chemical Co., Ltd
• Solvay
• Olin Corporation
• China Petrochemical Corporation
• Aditya Birla Management Corporation Pvt. Ltd.
• Kolon Industries, Inc

Notable Emerging Companies Mentioned in the Report

• Jubail Chemical Industries LLC
• Macro Polymers
• NAMA Chemicals
• Techstorm
• Spolchemie
• Jiangsu Sanmu Group Co., Ltd.
• DIC Corporation
• Atul Ltd
• NAGASE & Co., Ltd.

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

• Epoxy Resin Manufacturers
• DGBEA Raw Materials Suppliers
• DGBEF Raw Materials Suppliers
• Novolac Raw Materials Suppliers
• Aliphatic Raw Materials Suppliers
• Glycidylamine Raw Materials Suppliers
• Solvent Cut Epoxy Technology Manufacturers
• Liquid Epoxy Technology Manufacturers
• Waterborne Epoxy Technology Manufacturers
• Epoxy Resin Distributors
• Emerging and Startup Epoxy Resin Companies in the Market
• Government Departments of Polymers and Other Chemicals
• Ministries and Departments of Paint & Coating
• Ministries and Departments of Construction Materials
• Importers and Distributors of Epoxy Resin
• Chemicals Testing and Regulatory Authorities
• Chemicals Research Institutes

Period Captured in the Report

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

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

Global Epoxy Resin Market

THE UAE automotive aftermarket is expected to reach a market size of AED 33 billion (US$9 billion) by 2025. Will UAE continue to foster automotive aftermarket service market: Ken Research

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1. Shift towards private transportation owing to the pandemic has led to increase in private vehicles in UAE

Click to know: More Recent Developments in Car industry UAE

As it stands, Japanese brands dominate the UAE market with a market share of 70%. Toyota has been the consistent market leader in the 2015 to 2020 period, followed by Nissan and Mitsubishi. South Korean car makers have meanwhile been gradually increasing their market share in the region over the past years.

In related news, a recent study found that the UAE ranks within the top ten countries worldwide for automated vehicles readiness. Having set up a regulatory framework for autonomous passenger transport in 2017, Dubai is seeking to lead the charge, and hopes to reach 25% self-driving penetration across its transportation landscape by 2030.

In total, the UAE has around 3.5 million cars on the road, 40% of which drive around in Dubai. Notably, the percentage of SUV’s in the UAE is relatively high compared to other countries in the world, at 43%. Over half of all cars (53%) are seven years or older.

2. 2020 Dubai Expo in 2021 "Connecting Minds, Creating the Future"

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• The Expo took place from Oct 1, 2021–March 31, 2022.
• It accelerated the UAE’s recovery in H2 with an additional boost for travel and tourism.
• Visitor activities increased the demand for transportation, which indirectly created more demand for the aftermarket services.
• There resulted an increase in the usage of taxi and cabs also.
• In the year 2020 the Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) revealed that total number of electric/hybrid taxis account for around 4683 vehicles. Out of 4683 taxis the number of hybrid taxis were 4510, which is about 50% of the Dubai taxi fleet.

3. Normalization between Israel and UAE are expected to accelerate UAE Aftermarket Services Industry

Normalization between Israel and UAE can potentially have a positive impact on the UAE's Automotive Aftermarket Services Industry. This is because with the opening up of diplomatic and economic ties between the two countries, there may be an increase in trade and business opportunities, which could result in an increase in demand for automotive aftermarket services.

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With more cross-border trade and investment, there may be an increase in the number of vehicles being imported into the UAE from Israel, and vice versa. This could lead to an increase in demand for automotive aftermarket services such as repair and maintenance, parts and accessories, and other related services.

Moreover, with the potential increase in tourism and business travel between the two countries, there may also be an increase in the number of rental cars and fleet vehicles on the road, which could also drive demand for automotive aftermarket services.

UAE Car Rental & Leasing Market Is Anticipated To Become AED 4 Bn Market By 2024 Owing To Favorable Government Policies Such As Smart Dubai & Rising Investment Rate. Will The Projections Justify The Growth Rate? Ken Research

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Entry of new players & a developing startup infrastructure is expected to showcase a robust growth making the market grow at a CAGR of 9% by 2024, says a report by Ken Research

1. The UAE Government is focusing on improving the car rental & purchase infrastructure via several policies & promoting the use of clean technology.

Recent Trends in UAE Car Rental & Leasing Market

The government is currently focusing on making the ecosystem faster & smarter via the introduction of various initiatives such as, ‘Smart Dubai 2021’, the objective of which is to pioneer smart innovative mobility solutions for a seamless and safe transportation experience in the emirate. Electric Charging stations would be set up to boost the use of environment-friendly cars. Moreover, smart parking system would tell drivers the availability and location of parking spaces. A few other initiatives include, ‘Ghadan 21’ & ‘Energy Strategy 2050.’

2. “Investment scenario getting a boost:’ UAE’s Car Rental & Leasing Market is getting massive investment boost & emergence of new startups

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Various companies operating in the UAE Car Rental & Leasing market are getting massive investment influx owing to government regulations & the infrastructure development. For instance, Invygo, a startup operating in UAE and Saudi Arabia, has raised $10 Mn in its Series A funding led by MEVP as it works to scale its car rental service in the region while also updating the services they’re offering to customers. Other such examples include Kyte which was able to raise over $10 Mn in investment. All in all, the market is currently growing at a robust rate with startups & companies updating their operating policies & services being offered to customers.

3. UAE Car Rental Market to witness a robust growth owing to favorable government policies & rising investment in the sector.

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The UAE Car Rental Market is expected to showcase a robust growth in the upcoming years, growing at a CAGR of 9%. The rising growth rate can be attributed to favorable government policies & improving investment rate. Moreover, events like Dubai Expo will forecast the highest growth in rental services as 25 Mn visitor’s footfall is expected to visit the UAE. Mobile based rental services, GPS technology, Online booking, Online payment will help the rental services to grow. Cab aggregators will soon be covering more than 60 % of rental services booking while Individual rental booking is expected to increase primarily from Airport.

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

UAE Car Rental Market Outlook

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Global Door Entry System Market expected to record a CAGR of ~9% during the forecast period (2017-2028): Ken Research

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What Is The Size Of Global Door Entry System Industry?

Global Door Entry System market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 14 Bn by 2028.

The Door Entry System Market is largely driven by the increasing demand for smart homes and having safer and more secure business & commercial premises.

More and more residential and commercial premises understand the importance of having a secure environment with lesser risks from thefts and other safety concerns which is helping the market growth.

The high upfront investments that are required for the installation of advanced door entry systems and solutions act as a constraint to market growth.

The low awareness levels among end-users regarding the complete benefits of the door entry systems and privacy concerns as well as data breach risks act as constraints for the market’s growth.

The COVID-19 outbreak had a negative impact on the demand for door entry systems as manufacturing activities came to a standstill due to the imposition of the lockdowns. Even though there was some growth in demand in terms of contactless biometric tools such as face recognition tools but overall, the market suffered due to the pandemic.

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Global Door Entry System Market By Product Type

The Global Door Entry System market is segmented by Product type into Card-Based, Video/Audio Systems, Biometric Systems and Others.

The Card-Based segment held the largest market share in the Global Door Entry Systems Market in 2022.

The card-based access system uses smart cards which a person has to swipe at a security module that comprises a biometric sensor and an entry panel so that he can enter through the doors that have electronic locks.

The segment dominated the market because of its cost-effectiveness, reliability over the biometric readers, and convenience of use.

Global Door Entry System Market By Application

The Global Door Entry System market is segmented by Application into Residential and Commercial.

The Commercial segment held the larger share of the Global Door Entry Systems Market in 2022.

In order to prevent unauthorized access, protect assets, and people, commercial establishments such as hotels, entertainment areas, malls, departmental stores, offices, banking institutions, data centers, etc. are adopting the door entry systems which is helping this segment dominate the market.

Also, the door entry systems offer a safer and more cost-effective solution to these commercial users as compared to manned security systems.

Global Door Entry System Market By Geography

The Global Door Entry System market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

North America accounted for the largest market share in 2022 within the total global door entry systems market.

North American region dominated the door entry systems market due to the presence of a large number of companies in this region, well-developed infrastructure, high awareness among the people, and growing demand for safe & secure systems.

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Key Topics Covered in the Report

• Snapshot of the Global Door Entry Systems Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Door Entry Systems Market
• Historic Growth of the Overall Global Door Entry Systems Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Door Entry Systems Market
• Overview, Product Offerings, and SWOT Analysis of Key Competitors
• COVID-19 Impact on the Overall Global Door Entry Systems Market
• Future Market Forecast and Growth Rates of the Total Global Door Entry Systems Market and by Segments
• Market Size of Fiber Type / End User Segments with Historical CAGR and Future Forecasts
• Analysis of the Door Entry Systems Market in Major Regions
• Major Production / Consumption Hubs in the Major Regions
• 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

Major Players Mentioned in the report

• ABB
• Schneider Electric
• Johnson Controls
• Honeywell International Inc.
• Siemens
• Bosch Sicherheitssysteme GmbH
• IDEMIA
• Legrand
• Dormakaba Group
• ADT
• SALTO Systems, S.L.

Notable Emerging Companies Mentioned in the Report

• CAME
• CIVINTEC
• The Akuvox Company
• Commend International GmbH
• Xenon Smart Teknoloji

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

• Door Entry Systems Solutions and Service Providers
• Door Entry Systems Developers
• Suppliers of Door Entry Systems
• Door Entry Systems Raw Materials and Components Suppliers
• Software and Application Developers for Door Entry Systems Industry
• Third-party Service and Maintenance Providers
• Investors and Venture Capitalists in the Door Entry Systems Industry
• Market Research & Consulting Firms
• Start-ups & Incumbents in Door Entry Systems Industry
• PE and VC Firms in Door Entry Systems
• Government & Regulatory Authorities
• Building Security Technology Companies
• Home and Office Security Technology Companies
• Video/Audio System Makers of the Door Entry Systems Industry

Time Period Captured in the Report

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

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

Global Door Entry System Market

How rising tourism in KSA will help the Rental and Leasing Car market to double its growth in the next five years?: Ken Research

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The KSA car and rental market has witnessed consistent growth in the last few years. However, the pandemic negatively impacted the market in 2020 with lockdown and subsequent restrictive measures that included a travel ban and suspension of Hajj and Umrah pilgrims which resulted in low demand. But as the fear of the pandemic is going down, the rental and leasing car industry in KSA is ready to rebound. In this edition, we’ll uncover the major factors that will help the KSA car rental and leasing sector to double its growth rate in the next five years.

1. Kingdom of Saudi Arabia is the largest Oil-exporter of the World and Asia’s 5th Largest Country by Land Area with a GDP per capita $ 28,287.00

2. Apart from oil, the Tourism sector in KSA is also one of the key revenue contributors to the country’s economy; generated revenue of ~3000.0 Mn USD in 2022 from travel attractions

3. Rising Tourism has also fueled the growth of the car rental and leasing market in KSA which is in the growing stage with multinational companies dominating the market

4. KSA attracts peak number of tourists between March and July, during festivals such as Jenadriyah and Hajj which can send occupancy rates to anywhere between 90-100%

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5.  Increasing digitization and rising investments, mergers and acquisitions are some of the key trends of the KSA car rental and leasing market

6. Booming tourism, infrastructure projects, and diversification of the economy in non-oil sectors under Vision 2030 will help the KSA car and rental industry to double its growth in the next five years

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KSA Car Rental and Leasing Market

Related Reports By Ken Research:-

UAE Car Rental, Leasing and Limousine Market Outlook to 2025 (Second Edition)

Australia Car Leasing and Rental Market Outlook to 2023

Australia Mattress Manufacturing industry is projected to become $840 Mn in 2023. Will the Mattress market continue to grow in Australia? Ken Research

 

1. Current Retail & Commercial Mattress Industry Opportunity

                              

Also check out: Australia Hotel Market Outlook

Retail Players looking to Switch or Expand into Commercial Segment Owing to Promising Accommodation Pipeline & Slow Retail Growth

• Healthy growth of demand for bedding products in Accommodation industry spurred on by growing current & future-focused property investment (AU$ 2 Bn TV in 2019)
• Slow growth in Retail/Residential segment due to very low mattress interchange frequency, high cost consciousness & low end-user technical awareness
• Highly frequent mattress interchanges (7-8 years) in the Accommodation industry due to considerations upon guest comfort & regular maintenance
• Dominance of Retailer-based mattress manufacturers (AH Beard, Sealy etc.) in Accommodation, Retail incorporating significant presence of online Bed-in-a-Box companies
• Premium quality mattresses demanded by 5-star Hotels & Resorts while economy-priced & low to medium quality mattresses common in Retail segment
• Frequent brand switching in Retail Segment owing to low Customer Loyalty, while Long Term contracts common between accommodation brands & mattress suppliers.

2. Mature yet Resilient Market with Constant Need for Bedding Products

                              

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• Overnight Tourism Expenditure up by 11% from 2017-18 at AU$ 121.1 Bn.
• 43 Mn Chinese visitors (15% of overall) in 2018-19 up 1% from 2017-18, spending AU$ 11.9 Bn up 6% from 2017-18
• NSW, VIC and QLD making up ~83% of all Visitor nights in year ended Sep’19
• 10,000 rooms expected to be added in 2020 in addition to the 6,000 rooms added in 2019

3. Major Initiatives Aimed at Strengthening the Backbone of the Accommodation Industry, i.e., the Tourism Industry

                                  

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• New air agreements signed by the Australian Federal Government paving the way for increased tourist arrivals.
• Unrestricted airspace access agreement signed with China in Dec’16 allowed 285,000 Chinese airline seats in 2016 to grow to 1.5 Mn in 2018.
• 5,000+ member strong Australian Hotels Association (AHA )supported by a network of branches in every state and territory
• TAA maps accommodation industry performance representing close to 600+ members and 24 hotel chains.
• Tourism 2020 strategy launched in 2009 focusing on increasing tourist arrivals in the country, by doubling overnight visitor expenditure from the figure to AU$ 115-140 Bn by 2020
• Increased investment in quality accommodation properties a significant factor in achieving the goal set.
• As of June ‘19 upper bound targets of increasing room supply in the accommodation industry exceeded by 102% .

Thailand Agricultural Machinery Market Is Poised To Cross The $ 2 Bn Benchmark By 2025 Owing Government Policies & Immense Domestic Opportunity. Will The Growth Exceed Market Expectations: Ken Research?

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Factors such as Farm mechanization, increased domestic production will be inducing the market to grow at a robust rate 2020-2025 period, says a report by Ken Research.

1. ‘Agricultural Mechanization in Thailand:” Mechanization of Agricultural Procedure in Thailand is a necessity more than want.

Agricultural Machinery Trends in Thailand

Modern agricultural technologies (high yield variety seed, fertilizer, pesticide, mechanization, and other inputs) had been introduced in Thailand since 1976 or the fourth National Economic and Social Development Plan. During the same period, the expansion of other economic sectors of the country (including industrial, construction, tourism, and services) has surged to a huge extent. These draw out a magnitude of labor force from the agricultural sector, and have caused an on-farm labor shortage crisis. One of effective methods to cope with labor shortage while improving farm labor productivity is through mechanization. Mechanization in the country differs from region by region, depending on farm income. The Central Plain region is the richest and most progressive farming area in the country. Here has mechanization progressed from power-intensive operations, such as land preparation, water pumping, and threshing, to control-intensive operations, such as harvesting, seeding, and weeding. More sophisticated machines, such as combine harvesters, seed drills, and sprayers, are often seen in the Central Plain.

2. “Imports prioritized in recent past:” Lack of domestic manufacturing led to an increase in import value.

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The agricultural machinery industry in Thailand consists of only a few large companies, all of which are foreign-owned. Local manufactures are small in size, therefore not being able to produce machines with high quality. They tend to dominate the low-end machinery and parts segmentation of the market. The limited domestic supply of high-end machinery and parts has forced downstream Thai industries to rely on imports. Over the past five years, agricultural machinery imports have grown to reach an average level of almost US$500 Mn per year, with the top categories being four-wheel tractors (55% of the total import value) and equipment for harvesting and threshing (14%). Most of imported machines are from Japan, China (under Eurotract brand), USA, and Europe.

3. ‘‘Steady but long-term growth prospect:” Factors such as increase in domestic production & farm mechanization will induce a steady & long term growth.

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The market for agricultural machinery in Thailand remains small, leaving plenty of room for opportunity. The ratio of agricultural machinery use in the country is 30% compared with more than 90% in developed countries such as Japan, South Korea, USA and Europe. Factors such as labor shortage, increasing demand for food, both for domestic consumption and export are likely to boost market growth in the near future as a result of which the market is anticipated to grow at a CAGR of 4% during the forecasted period, crossing the $ 2 Bn benchmark.

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

Thailand Agricultural Machinery market

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