Lumi Expands to Jeddah, Targets ~$10 Bn Used Car Sales: Ken Research

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Lumi, a division of Seera, Extends Used Car Sales Reach to Jeddah in Response to Surging Demand. Focuses on Selling Vehicles Aged Two to Four Years. Lumi’s used car business segment sold more than 3,600 vehicles in 2022.

STORY OUTLINE

• Lumi Rental Co., a subsidiary of Seera Group Holding, has opened its second used car showroom in Jeddah, Saudi Arabia, to meet the growing market and customer demands.
• The showroom is located in Jeddah's Al Jawhara district and covers an area of 2,960 square meters, showcasing up to 120 pre-owned vehicles.
• In 2022, Lumi's used car business division achieved impressive sales of over 3,500 vehicles, highlighting its success in the market.
• Lumi aims to maximize purchase price recovery by selling vehicles after two to four years of rental and lease operations, ensuring a young and modern fleet.
• The showrooms in Riyadh and Jeddah cater to retail customers seeking used vehicles, while corporate buyers can participate in digital bidding for pre-owned vehicles.

1. Lumi Rental Co. Expands Reach with Second Used Car Showroom in Saudi Arabia

Explore expansion of used car market

Lumi Rental Co., a subsidiary of Seera Group Holding specializing in car rental and leasing, has unveiled its second used car sales showroom in Saudi Arabia. This expansion comes in response to growing market and customer needs. Located in Jeddah's Al Jawhara district, the spacious showroom spans 2,960 square meters and can accommodate up to 120 pre-owned vehicles on display. In 2022, Lumi's used car business division achieved sales of over 3,500 vehicles.

2. Ensuring a Young and Modern Fleet: Lumi's Commitment

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Lumi, a market leader in car rental, leasing, and used car sales, inaugurated its first used car showroom in Riyadh in 2022. With a fleet of 24,000+ vehicles, Lumi aims to maximize purchase price recovery by selling vehicles after two to four years of rental and lease operations. The Riyadh and Jeddah showrooms cater to retail customers' demand for used vehicles, while corporate buyers can bid digitally for pre-owned vehicles, ensuring a young and modern fleet.

Lumi Rental Co., a prominent player in the car rental, leasing, and used car sales sectors, continues to expand its presence in Saudi Arabia with the introduction of a second used car showroom in Jeddah. With a focus on meeting the evolving market demands and customer preferences, Lumi's commitment to maintaining a young and modern fleet is evident. By strategically selling vehicles after two to four years of use, Lumi maximizes purchase price recovery and ensures access to the latest and newest vehicles for its customers.

JSP Pharmaceutical: Sets High Expectations for 30% Revenue Growth This Year! : Ken Research

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Anticipating a 30% revenue growth, JSP Pharmaceutical Manufacturing (Thailand) Plc, a distributor of medicines and nutritional supplements, is set to capitalize on the rising demand in the medicine industry with the launch of its dedicated research and development service.

STORY OUTLINE

• JSP Pharmaceutical Manufacturing is involved in pharmaceutical research and development (R&D).
• The company operates as an original equipment manufacturer (OEM) and supplies 60% of its products to customers.
• JSP also markets the remaining portion of its products under its own brands.
• Sittichai, the company's representative, has a goal of increasing the proportion of branded products to 50% by 2024.
• According to Ken Research, JSP Pharmaceutical Manufacturing (Thailand) Plc's financial performance showed mixed results in 2020

In the year 2020, JSP Pharmaceutical Manufacturing (Thailand) Plc achieved earnings of 436 Mn baht, although it faced a loss of 17.4 Mn baht. Moving forward, in the first quarter, the company recorded a profit of 1.8 million baht, accompanied by a revenue of 112.6 Mn baht.

Explore Pharmaceutical Manufacturing Market Share

• Pharmaceutical R&D manufacturers face persistent challenges in expanding their medicine exports, as they are required to consistently update and enhance their products to align with international standards.

With an investment of 25 million baht, JSP Pharmaceutical Manufacturing has established a state-of-the-art laboratory that adheres to the rigorous standards of good manufacturing practice and the pharmaceutical inspection co-operation scheme.

• The CEO, Mr. Sittichai, stated that JSP expects the laboratory to support customer R&D projects, reduce researchers' workload, and accommodate up to six projects per year.

• Sittichai Daengprasert noted that the growth of the domestic medicine industry will fuel the demand for diverse medication types, creating new revenue opportunities for the company through research and development.

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• Currently, JSP Pharmaceutical Manufacturing imports over 90% of its raw materials, while functioning as an original equipment manufacturer and supplying 60% of its products to customers. The remaining products are marketed under the company's own brands.
• JSP Pharmaceutical Manufacturing engages in pharmaceutical R&D and functions as an original equipment manufacturer, providing 60% of its products to customers, with the remaining portion marketed under its own brands. Sittichai aims to increase the share of these branded products to 50% by the year 2024.
• JSP Pharmaceutical Manufacturing (Thailand) Plc's financial performance showed mixed results in 2020, but a positive turnaround was observed in the first quarter. The investment in a state-of-the-art laboratory highlights their commitment to quality and innovation, supporting customer R&D projects and improving efficiency. With the growing domestic medicine industry, JSP aims to capitalize on diverse medication types, despite challenges in expanding exports, by focusing on international standards and product enhancements.

Italy Car Rental Market Size, Share and Industry Report, Outlook to 2027: Ken Research

 What Is The Size Of Italy Car Rental Industry?

Italy Car Rental market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Italy Car Rental Market is largely driven by smartphones users’ penetration, rising tourism and government initiatives.

Also, growing Demand for On-Demand Transportation Services to drive market growth increasing vehicle costs, shrinking parking lots, and high auto maintenance costs encourage people to use on-demand transportation services for trips and everyday commuting. As a result, the industry has grown due to consumers' increased preference for on-demand transportation.

Furthermore, the rising number of international tourists is the main growth driver for the expansion of the car rental market in the country raising the standard of booking and leading to robust revenue generation.

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Furthermore, the COVID-19 has disrupted car rental growth across the country. The strict travel restrictions and quarantine rules across the country have adversely affected the car rental market. The car rental market registered around ~% lower revenue in 2020 as compared to 2019. However, the market is displaying a decent recovery post-severe COVID-19 pandemic outbreaks as the market revenue is surging by around ~% in 2021 as compared to 2020.

Italy Car Rental Market By Type Of Vehicles

The Italy Car Rental market is segmented by type of vehicles into small cars/hatchbacks, Sedans, SUVs and others.

The most popular car models in the market are VW, Mercedes, Opel, VW Up, Toyota Aygo, Polo, Opel Corsa, VW Golf, and Opel Astra. Small Car/ Hatchback has the highest market share among other types of vehicles in the country in 2022.

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Italy Car Rental Market By Fuel Type

The Italy Car Rental market is segmented by fuel type into petrol, diesel and electric.

People usually prefer petrol-based car as they don’t want to wait for charging their cars.

Italy Car Rental Market By Mode Of Booking

The Italy Car Rental market is segmented by mode of booking into online and offline.

Online booking dominates the Italy car rental market in terms of revenue in 2022 and is registers a significant growth in terms of revenue during the forecast period. The rise in the use of internet and mobile phone applications across the country is likely to enhance the use of online booking platforms.

Competition Scenario In Italy Car Rental Market

Italy Car Rental Market is at a growing stage. The market is moderately fragmented. Italy Car rental market is dominated by major players such as USDopcar, Avis, Hertz, Rentalcars.com, Easycar.com, and many others Italy’s Car Rental Market is in the Growing stage owing to rising internet connectivity and smartphones penetration along with rising tourism.

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What Is The Expected Future Outlook For The Overall Italy Car Rental Market Across The Globe?

The Italy Car Rental market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Italy Car Rental market is driven by rising tourism, growing internet connectivity.

However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, owing to the increasing demand from tourists for business and leisure purposes hiring rental cars along with the Italy government’s decision to increase the tax-free travel allowance. The growing penetration rate of the internet and smartphones are driving more people to rent a car as the services are mainly provided through online platforms.

The rise in domestic and international tourism across the country is likely to witness major growth in the market. In 2021, domestic expenditure accounts for around ~% of total tourism spending. The contribution of travel and tourism spending is the key factor toward the Italian GDP. Such an increase in travel and tourism sectors across the country is witnessing major demand for car rental services, which in turn witnessing major growth for the market.

Along with rising internet penetration across the country and increase in use of smart phone application for online car rental booking is likely to witness significant growth for the market. For instance, in 2021, the number of active internet user in Italy counted more than ~ million, such increase in use of internet will help to boost the market.

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

Italy Car Rental Market Outlook to 2027F

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Germany Car Rental Industry Trends, Growth, Outlook to 2027: Ken Research

 What Is The Size Of Germany Car Rental Industry?

Germany Car Rental market is growing at a CAGR of ~% in 2017-2022 and is expected to reach EUR ~ Bn by 2027F.

The Germany Car Rental Market is largely driven by rise in number of travelers demands for car rental services, increasing demand for online car rental services and digitization.

But, the rapid spread of coronavirus across the country and enforced lockdown in country have had a negative impact on the car rental market. Manufacturers operating in the car rental market are recovering from the losses caused due to disturbed services due to halt on transportation activities and travel restrictions.

After the successful recovery of businesses, manufacturers in the car rental market are marking their presence in the market. Major players operating in the car rental market are investing and expanding their services to fulfill rising demands from consumes.

Also, increasing popularity of tours and travels due to rising disposable incomes is a factor demanding high quality and reliable travel services for their tours. Leading car rental service providers are offering quality services and promoting their brands at airports, and this is helping customers to adopt their services

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Germany Car Rental Market By Market Structure

The Germany Car Rental market is segmented by market structure into organized and unorganized market. There is a preference towards the organized sector as most of the tourists look for legal documents and certifications of the vehicle to avoid security patrolling for safety measures.

Germany Car Rental Market By Type Of Vehicles

The Germany Car Rental market is segmented by type of vehicles into small cars/ hatchbacks, sedans, SUVs and others. The most popular car models in the market are VW, Mercedes, Opel, VW Up, Toyota Aygo, Polo, Opel Corsa, VW Golf, and Opel Astra. Small Car/ Hatchback has the highest market share among other types of vehicles in the country.

Germany Car Rental Market By Ice/Ev

The Germany Car Rental market is segmented by ICE/EV into ICE (internal combustion engine) and electric vehicles. There is a preference towards the ICE vehicles as they have been very common and EVs are new concept and they are expensive also.

Germany Car Rental Market By Cities

The Germany Car Rental market is segmented by cities into Berlin, Hamburg, Munich and others. Munich has the most market share in car rental in Germany as compare to other cities.

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Germany Car Rental Market By Mode Of Booking

The Germany Car Rental market is segmented by mode of booking into online and offline. Online mode of booking is more as compare to offline as it is quick and have more options. Also, tourist from other countries who don’t know to location can also easily book their cars online.

Germany Car Rental Market By Client

The Germany Car Rental market is segmented by client into business and leisure. Leisure holds the most of the market share in Germany Car Rental Market.

Germany Car Rental Market By Pick-Up

The Germany Car Rental market is segmented by pick-up into on-airport and off-airport. On-airport holds the market share in Germany Car Rental Market as people wants to get picked from the airport.

Competition Scenario In Germany Car Rental Market

Germany Car Rental Market is at growing stage and has moderately fragmented market with about 10-12 organized rental car providers. The Car Rental Market in the Germany has seen emergence of more players over the past 5 years. SIXT SE, Enterprises Holding Inc., Europcar, and AVIS are market leaders in Germany.

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What Is The Expected Future Outlook For The Overall Germany Car Rental Market?

The Germany Car Rental market was valued at EUR ~billion in 2022 and is anticipated to reach EUR ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Germany Car Rental market is driven by long term car renting gaining momentum, support for sustainable travel boosts interest in train and bus transport and expansion of the tourism industry. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, online tourist vehicle bookings are increasing in the country and globally due to the rising usage of smartphones, and the growth in the number of users preferring online channel. With the growing trend in technology, renting a vehicle through online booking has become the most preferred choice for customers over the past few years.

Moreover, it provides additional facilities to monitor a rental vehicle’s operation, performance, and maintenance in real-time. Such features are tremendous assets for drivers and fleet managers, enabling them to better and more efficiently identify risks and implement timely improvements to their rental services. Furthermore, technological advancement and digitalization are factors assisting market players to stay ahead of the competition. Car rental services are often complemented by websites, allowing online reservations and car rental offices are primarily located near airports or busy city areas. Alongside the basic rental of a vehicle, car rental agencies typically offer extra services, such as GPS navigation systems, insurance, and entertainment systems. And, with broader challenges confronting all travel operators during the pandemic, car rental companies have suffered many of the same losses as other modes of transportation, such as airlines and trains, as a result of pandemic-driven demand for private travel options to non-urban destinations. However, as normal travel patterns resume in the coming years, car rental companies will face more direct competition from other modes of ground transportation, such as trains and buses, which will also seek a larger share of the more localized domestic and regional trips that are likely in the coming years.

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Germany Car Rental Market Outlook To 2027F

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Bahrain Car Rental Market Outlook to 2027F: Ken Research

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What Is The Size Of Bahrain Car Rental Industry?

Bahrain Car Rental market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F. The Bahrain Car Rental Market is largely driven by favorable government policies and rising tourism in the country.

Bahrain’s keenness to develop the ICT infrastructure and adopt many initiatives and projects to improve the readiness and security of information, in a way that enhances its advanced world-standard digital infrastructure and contributes to protecting its cybersecurity. The Kingdom is one of the leading countries in the region in the field of cybersecurity. It has launched the necessary initiatives and set up the basic rules of cybersecurity to put in place a robust and sustainable electronic environment.

The new infrastructure plans by government, will work to improve air quality and reduce traffic in the Kingdom. According to a study conducted by Pub Med Central, Bahrain has a high annual concentration of PM 2.5, and now citizens are starting to become aware to the health risks associated with air quality. According to UN Environment, reducing emissions from transport is a critical factor in decreasing air pollution in the Kingdom of Bahrain. Transport in Bahrain relies heavily on roads, with private cars being the most dominant mode of transportation, which is expected to fuel the car rental market in Bahrain.

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Bahrain Car Rental Market By Market Structure

The Bahrain Car Rental market is segmented by market structure into organized and unorganized market. There is a preference towards the organized sector as most of the tourists look for legal documents and certifications of the vehicle to avoid security patrolling for safety measures.

Bahrain Car Rental Market By Type Of Vehicles

The Bahrain Car Rental market is segmented by type of vehicles into small cars/ hatchbacks, sedans, SUVs and others. The SUV has the highest market share among other types of vehicles in the Bahrain Car Rental Market in 2022.

Bahrain Car Rental Market By End-User Type

The Bahrain Car Rental market is segmented by End-User into Self-Driven and Chauffeur. There is a preference towards the Self-Driven vehicles as they getting popular and still chauffeur still hold the most of the market share.

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Bahrain Car Rental Market By Vehicle Type

The Bahrain Car Rental market is segmented by Vehicle type into Economy Cars and Luxury Cars. Economy cars segment dominates the Bahrain Car rental market in 2022.

Bahrain Car Rental Market By Mode Of Booking

The Bahrain Car Rental market is segmented by mode of booking into online and offline. Online mode of booking is more as compare to offline as it is quick and have more options. Also, tourist from other countries who don’t know to location can also easily book their cars online.

Competition Scenario In Bahrain Car Rental Market

In Bahrain Car Rental Market there are limited players operating in the overall market, and top players accounted ~% share in the market in terms of revenue. The major parameters on which these players complete includes increasing demand for car rental services from tourists, business travelers, and locals, introduction of new technologies such as AI and the increasing number of hotels and restaurants.

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What Is The Expected Future Outlook For The Overall Bahrain Car Rental Market Across The Globe?

The Bahrain Car Rental market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Bahrain Car Rental market is driven by favorable government policies and rising tourism in the country. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

The Kingdom of Bahrain has seen a massive growth in population from 1.5Mn in 2017 to 1.52 Mn in 2022 which has led to a remarkable increase in the number of vehicles and expansion of road networks, according to WHO. BTEA has announced launch of special travel packages to welcome GCC tourists, in collaboration with tourist partners which will increase the requirement of rental cars.

The Bahrain Tourism and Exhibitions Authority (BTEA) has announced the launch of special travel packages to welcome GCC tourists, in collaboration with tourism partners. BTEA Chief Executive Officer said that the launch of the packages coincides with the Bahrain Festive Season this December, during which BTEA has prepared a program filled with festivals and events. The tourism packages will grant GCC nationals and residents the opportunity to visit Bahrain with special rates for hotel reservations, access to sightseeing activities tailored to their budget, and entry to various events.

Self-drive, a UAE car rental tech platform is expanding to Qatar and Bahrain due to increase adoption of digital car rental market. Seamless customer experience and range of product offerings will be required. The enhance infrastructure cooperation, Bahrain and Saudi are committed to cooperate in developing infrastructure, road services etc. All these factors are leading to rise in demand for rented cars in Bahrain.

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Bahrain Car Rental Market

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Future Outlook of Egypt Car Rental Market: Ken Research

 What Is The Size Of Egypt Car Rental Industry?

Egypt Car Rental market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Egypt Car Rental Market is largely driven by boost in tourism sector in Egypt, increasing trend for On- Demand services, rising internet penetration along with government initiatives on infrastructure and electric vehicles.

In recent years, the impact of technological advancements has revolutionized the industry. The increasing use of smartphone-based online rental car booking apps is significantly contributing to market growth. With the help of online booking mobile applications for the convenience of customers, companies in the market have been able to capture a large customer base.

The Egypt car rental market is currently expanding. The pandemic has caused a precipitous drop, which has had a negative impact, but with the reopening of the travel industry, the tourism sector is expected to grow with the inflow of tourists.

The pandemic had a negative impact on market growth due to a halt in activities as a result of the lockdowns and travel and transportation restrictions imposed by the Egypt government to combat the spread of the coronavirus. Furthermore, as the tourism industry, both international and domestic, suffered a significant blow as a result of the pandemic, demand for car rentals decreased, as car rental services are widely used by tourists.

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Egypt Car Rental Market By Market Structure

The Egypt Car Rental market is segmented by market structure into organized and unorganized market. There is a preference towards the organized sector as most of the tourists look for legal documents and certifications of the vehicle to avoid security patrolling for safety measures.

Egypt Car Rental Market By Type Of Vehicles           

The Egypt Car Rental market is segmented by type of vehicles into small cars/ hatchbacks, sedans, SUVs and others. The SUVs has the highest market share among other types of vehicles in the country as most of the region is desert and major tourist spot in the country is also located in the desert area.

Egypt Car Rental Market By Ice/Ev

The Egypt Car Rental market is segmented by ICE/EV into ICE (internal combustion engine) and electric vehicles. There is a preference towards the ICE vehicles as they have been very common and EVs are new concept and they are expensive also.

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Egypt Car Rental Market By Cities

The Egypt Car Rental market is segmented by cities into Cairo, Alexandria, Giza, Qalyubia, Port Said and Suez. Cairo has the most market share in car rental in Egypt as compare to other cities.

Egypt Car Rental Market By Mode Of Booking

The Egypt Car Rental market is segmented by mode of booking into online and offline. People preferred online mode more as compared to offline as it is efficient, fast and offers more options.

Egypt Car Rental Market By Duration

The Egypt Car Rental market is segmented by Duration into Long and Short. Long hold most of the market share as travel agencies rent cars for longer period for their businesses.

Egypt Car Rental Market By Pick-Up

The Egypt Car Rental market is segmented by pick-up into on-airport and off-airport. On-airport holds the market share in Egypt Car Rental Market as people wants to get picked from the airport.

Competition Scenario In Egypt Car Rental Market

Egypt’s Car Rental Market is a moderately consolidated market which is still in the growing phase. With increasing tourism in the country and more internet penetration in rural areas are the major reason for the entrance of the new players. Sone of the major players in the Egypt car rental market are Kayak, Sixt, Europcar, Avis Rent a Car System, LLC, Locanfy, Bikebookig.com.

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What Is The Expected Future Outlook For The Overall Egypt Car Rental Market Across The Globe?

The Egypt Car Rental market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Egypt Car Rental market is driven by boost in tourism sector in Egypt, increasing trend for On- Demand services, rising internet penetration along with government initiatives on infrastructure and electric vehicles. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

The Egypt Car Rental Market will expand in the coming years as a result of the increased focus of car rental companies on corporate clients, an increase in foreign travelers. With this trend, the inflow of investments will increase in the future. For Instance, Zoomcar, the world's largest emerging market focused car sharing marketplace, is looking to double its investments in Egypt in the coming three years.

The government's initiative will attract tourism in the country and is expected to contribute to the overall market growth. With the announcement of the Red Sea Bridge which will join Saudi Arabia and Egypt will a become a major growth booster for the car rental market in the Egypt as the majority of the business in car rental market is derived by the trading companies. The bridge connecting Saudi Arabia with Egypt will boost trade between the two countries. Both the countries have signed 17 agreements to enhance bilateral ties.

Furthermore, the share of EVs is expected to increase many folds, as Egypt plans to shift to electric mobility and plans to begin subsidizing electric vehicle. On the infrastructure side, the government is working on plans to establish a nationwide charging network. In other efforts to advance the industry, Egypt’s House of Representatives just gave its final approval to a bill that will establish a new regulatory body to set policy for auto assembly in the country, including EVs, and provide financial incentives for manufacturers which is expected to boost the Car Rental market in Egypt.

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

Egypt Car Rental Market Outlook to 2027F

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Future Outlook of Bahrain Remittance Market: Ken Research

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What is the Size of Bahrain Remittance Industry?

Bahrain Remittance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F. The Bahrain Remittance Market is largely driven by the increasing inflow of expatriates, digitization, e wallets and major government investments.

Bahrain has been an expat hotspot for decades because of multi-cultural environment and a progressive nation which is known to offer a good quality of life to its residents. With the recent economic and political reform, the country has seen a tremendous growth in infrastructure development, thus creating more job opportunities and an attractive destination for expatriates. With the increasing inflow of expatriates also increases the inflow of remittance to other countries, thus fueling the Bahrain remittance market.

With the adoption of ‘cloud-first’ policy in 2017 by the Bahrain Government, the Country has attracted some of the world’s leading tech players to set up operations in the Kingdom. Most notably, cloud computing giant Amazon Web Services (AWS) launched its hyperscale Cloud Region in Bahrain in 2019, its first in MENA and a landmark investment.

Furthermore, the government has planned to invest billions of dollars to improve infrastructure, industry, housing and connectivity to call for more diverse economic base.  As part of Bahrain’s 2021 Economic Recovery Plan, Bahrain announced over 22 strategic infrastructure projects worth over $30 billion, which has fueled the Remittance market of Bahrain.

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Bahrain Remittance Market In International Inbound By Channel

The Bahrain Remittance market is segmented by Channel into Banking Channels, MTOs, M-Wallet and Others. Banking Channels were the most dominant form of channel used in Bahrain Remittance market in 2022.

Bahrain Remittance Market By Inflow Of Countries

The Bahrain Remittance market is segmented by Inflow of Countries into India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia was the most dominant among others followed by India and Pakistan in 2022.

Bahrain Remittance Market In International Outbound By Channel

The Bahrain Remittance market is segmented by Channel into Banking Channel, MTOs, M-Wallets and Others. Banking channel was the most preferred form of channel in 2022 in Bahrain Remittance market.

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Bahrain Remittance Market International Outbound By Outflow Countries

The Bahrain Remittance market is segmented by outflow countries into India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia held the major market share in Bahrain International Outbound Remittance market in 2022.

Bahrain Remittance Market By Point Of Contact

The Bahrain Remittance market is segmented by Point of Contact into Branch Pick-up, Mobile payment & Online Transaction and Prepaids cards. Branch Pickups held the majority of the share in the Bahrain Remittance market in 2022.

Competition Scenario In Bahrain Remittance Market

Bahrain Remittance Market is in the growing stage, consisting of limited players (banks and digital payment companies) with just few companies acquitting the major portion of the market. Bahrain international remittance market is fragmented with the manifestation of small, medium and large corporations. Some of the major players in the Bahrain Remittance market are Western Union, MoneyGram, Al Barka Bank etc.

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What Is The Expected Future Outlook For The Overall Bahrain Remittance Market Across The Globe?

The Bahrain Remittance market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Bahrain Remittance market is driven by the increasing inflow of expatriates, digitization, e-wallets and major government investments. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Government has ambitious plans to use digital technologies extensively to strengthen its services, processes, and decision making, as well as its ability to share data with constituents. There is specific emphasis on improving the individual organizational capabilities of Government entities by aligning their digital strategies with the national Digital Government Strategy 2020, strengthening the governance mechanisms, enabling a digital workforce, reinforcing agile development and analytical platforms while deploying robust cyber security measures and controls which will led to increase employment in the digital sector, thus fueling the inflow of workers in the country.

The inbound remittance is expected to showcase a CAGR close to ~% and the outbound remittance is anticipated to showcase a CAGR close to ~% by value of transactions USD ~Mn. The government's infrastructure development operations are likely to enhance job possibilities in the country in the upcoming years. The majority of these positions are likely to be in the country's flourishing private sector, resulting in a considerable rise in the number of expatriates in the country. This will undoubtedly have a significant impact on rising remittance inflows and outflows, which are highly influenced by the country's expatriate community. The domestic remittance sector will also see a rise in the future with the increasing digital money transfer company.

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Bahrain Remittance Industry

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Generating a revenue of USD 87 Bn in 2027 via improving trade relations, Indonesia’s Freight Forwarding market provides a strong hand for the country’s Logistics Market: Ken Research

 A strong ecosystem alongside an improving export-import scenario are two of the major factors responsible for the growth of Indonesia’s Freight Forwarding market, says a report by Ken Research

1. With trade surplus of $35.34 Bn, Indonesia’s Export-Import scenario is a decent fit for its Logistics Market.

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The growing export-import activities are the key factor driving the freight logistics market growth in Indonesia. As a result of higher oil prices, rising industry demand, and businesses expanding operations, imports increased by 30.85% (YOY) to USD 21.97 billion in March 2022, driven mostly by a rise in raw materials and capital goods. In November 2021, exports reached a record high of USD 22.84 Bn, while imports reached a record high of USD 21.35 Bn.

Rising global commodity prices are expected to have a positive impact on Indonesia's trade during the forecast period, as rising prices of export commodities such as coal and CPO outweigh rising costs of imports, especially crude oil. As of March 2022, China remains Indonesia's largest export destination, with non-oil and gas exports worth her USD 5.48 billion. Therefore, increasing import and export activities in the country will increase the demand for supply chain and logistics improvements, driving the growth of the Indonesian freight logistics market during the forecast period.

2. “Technology to the Rescue:” Efficient Freight Matching, Better Profitability, Smarter Operations and Greater Service Quality are some of the benefits of Digital Freight Aggregator Platforms.

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Technology options such as Efficient Freight Matching, better profitability, smarter operations & greater service quality serve as a major benefit for Indonesia’s Logistics market. A major benefit of Digital Truck Aggregator Platforms is that they have a large Shipper and Trucker Base and offer services such as Freight Listing, Freight Brokerage and Online Transactions to earn revenue. Furthermore, digital Truck aggregator platforms are reshaping the trucking industry in Indonesia by increasing operational efficiency, reducing costs & increasing profitability.

Major Players Mentioned in the Report:

Indonesia Freight Forwarding Market

• DHL
• JAS
• DSV
• Agility
• Lotte Global Logistics
• Bollore Logistics
• Linfox
• Cargo
• Pancaran Group
• Samudera Shipping
• Hiba Group
• Ironbird Logistics
• Kargo
• BGR

Indonesia Warehousing Market

• BGR
• Toll
• Supra
• Ironbird
• Punnar Logisitcs
• Linc

Indonesia CEP Market

• JNE
• J&T Express
• POS
• Ninja Express
• Paxel

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

• E-commerce Companies
• Third-Party Logistic Providers
• Potential Market Entrants
• Freight Forwarding Companies
• Warehousing Companies
• Cold Storage Companies
• Industry Associations
• Consulting Agencies
• Government Bodies & Regulating Authorities

Time Period Captured in the Report:

• Historical Period: 2017-2021
• Base Year: 2021
• Forecast Period: 2021-2027

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

Indonesia Semi-Automated Warehouse Market

Related Reports By Ken Research:

USA Logistics Industry Outlook to 2026

Australia Logistics Market Outlook to 2025

Germany E-Commerce Logistics Market Outlook to 2026F

With Clean Energy & digitalization trends in place, massive investment inflow alongside a growth rate of 11% is being anticipated for Africa’s Data Center & Cloud Services Market. Are Policy Reforms the way ahead? : Ken Research

 Africa’s Data Center & Cloud Services market is experiencing a series of digitalization & clean energy reforms with companies anticipated to expand their market share in the upcoming years, says a report by Ken Research

1. “Digitalization as a boon:” African economy has seen a massive breakthrough in terms of digitalization attracting a massive investment inflow.

Recent Trends in African Data Centre Market

In the last couple of years, South Africa has attracted data center infrastructure investments from big tech companies like Google, Amazon, Microsoft, and Oracle, as well as other data center infrastructure companies like Teraco, Africa Data Centers, and Convergence partners. Most of the development is the market is being carried out of as a result of rapid digitalization which means that tons of data is being produced, driving up the demand for public cloud facilities and hyper-availability zones. Companies like Amazon & Microsoft were amongst the first to recognize the massive opportunity in 2019, utilizing local data facilities to power their public clouds in South Africa. Today, over 80% of the space in these facilities is used by these public cloud providers, or hyperscalers as they are known.

2. Clean energy is becoming the trend with African companies opting to integrate clean energy sources.

A new trend has emerged in the African Data Centre market with companies opting for clean energy technologies. Africa Data Centers has a target to power all its data centers with clean, zero-carbon sources of energy. “This new deal will provide over 30% of our South African data centers with renewable energy, a great stride forward in our aim to reach carbon neutrality.”

DPA is a pan-African renewable energy company with key operations in South Africa, Kenya and Zimbabwe whose vision is to power Africa to a brighter future. Commenting on the partnership Norman Moyo, CEO of DPA, said: “Our customers are looking for cost-effective and efficient ways of meeting their green targets and reduce energy costs for their businesses in a climate of increased power shortages. We are excited to embark on this milestone project with Africa Data centers as it will demonstrate our innovation in deploying renewable energy solutions.”

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Time Period Captured in the Report:

• Historical Period:2017- 2022
• Base Year: 2022
• Forecast Period: 2022-2027

Key Target Audience:

• Hospital
• ASC
• Consulting service Providers
• Government
• IT Service providers

Companies Covered:

• Interkel
• NTT Global Data Center
• African data Centers
• Paratus Namibia
• MainOne
• IX Africa
• Icolo

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

Africa Data Center and Cloud Service Market

Related Reports by Ken Research:-

Thailand Data Center and Cloud Services Market Outlook to 2027

KSA Data Center and Cloud Services Market Outlook to 2026

UAE Data Center and Cloud Services Market Outlook to 2026

What Is The Size Of Belgium Agriculture Machinery Industry?

 Belgium Agriculture Machinery market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Belgium Agriculture Machinery Market is largely driven by rising awareness for the advance equipments, increasing demand for agriculture equipment rental services, use of smart farming, integration of Agriculture 4.0 along with strong government support.

The Government of Flanders (Belgium) has signed new agreement with the Food and Agriculture Organization of the United Nations (FAO) to bolster the implementation of the new phase (2022P-2025) of FAO’s Flexible Voluntary Contribution (FVC), which is expected to boost the Belgium Agriculture Machinery market.

Agricultural equipment rental service is being driven mostly by the need to ease farmers' financial burdens rises due to pandemic and to provide better equipment to the farmer for better yield and productivity to meet the market demand and provide a quality product.

Also, Larger farming tools like tillage equipment, mower conditioners, and forage harvesters are not only more expensive but also take longer to produce the required outcomes. As a result, renting farm equipment is offering a better alternative to farmers, thus fueling the Belgium agriculture equipment market.

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Belgium Agriculture Machinery MARKET by Product

The Belgium Agriculture Machinery market is segmented by Product into Tractors, Combine Harvesters, Agriculture Implements and Rice Transplanters. Combine harvesters held the largest market share in the Belgium agriculture machinery market in 2022.

Belgium Agriculture Machinery MARKET by Tractor

The Belgium Agriculture Machinery market is segmented by Tractors into 8HP – 15HP, 20HP – 35 HP, 36HP – 47HP, 48HP – 75HP, 75HP – 100HP, 100HP – 120HP and Above 120 HP.  75Hp – 100Hp were the most preferred tractors in the Belgium agriculture machinery market in 2022.

Belgium Agriculture Machinery MARKET by COmbine Harvesters

The Belgium Agriculture Machinery market is segmented by Combine Harvesters into 70HP and below, 75HP – 105HP and Above 105 HP. 75 Hp – 105HP combine harvesters were the most preferred one according to their crops in 2022.

Belgium Agriculture Machinery MARKET by rice transplanters

The Belgium Agriculture Machinery market is segmented by Rice Transplanters into 4 Row RT, 6 Row RT and 8Row RT. 6 Row RT was the dominant rice transplanters followed by 8 Row RT in Belgium agriculture machinery market in 2022.

Competition Scenario in Belgium Agriculture Machinery Market

Belgium Agriculture Machinery Market is a moderately consolidated market which is still in the growing phase. With Increasing innovation in agriculture sector, integration of Agriculture 4.0 and use of smart farming are some of the factors that will drive the Belgium Agriculture Machinery Market. Some of the major players in the Belgium Agriculture Machinery Market are MTZ (Minsk Tractor Factory), New Holland, ASI, Oliver Farm Equipment Company and John Deere etc.

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What is the Expected Future Outlook for the Overall Belgium Agriculture Machinery Market Across the globe?

The Belgium Agriculture Machinery market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Belgium Agriculture Machinery market is driven by rising awareness for the advance equipments, increasing demand for agriculture equipment rental services, use of smart farming, integration of Agriculture 4.0 along with strong government support. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

The development of cutting-edge technologies is leading to a wide range of notable applications, including crop health monitoring, crop productivity analysis, soil nutrition management, rainfall monitoring, and pest infestation monitoring, which is opening up numerous opportunities for farmers, consumers, and other stakeholder

to increase crop yield and quality. The development of decision support tools, remote monitoring and fertilizing systems, and automated irrigation systems as a result of increased research and development efforts is assisting businesses in reducing costs and maximizing employee productivity. Further drawing significant attention and investment, these cutting-edge technologies have the potential to increase food production while reducing environmental harm.

Furthermore, with the use of Agriculture 4.0 in Belgium agriculture market which includes systems that employ drones, robotics, vertical farms, artificial intelligence, and solar energy, among others which will enables farmers and companies to Integrate digital technology into farming practices which will increase their yields, reduce costs associated with farming, minimize crop damage and optimize usage of fertilizers, water, and fuels. This is also expected to reduce cost and provide high-quality food which will fuel the growth in the agriculture machinery market in Belgium in the upcoming years.

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

Future Outlook of Belgium Agriculture Machinery Industry