Netherlands faces fuel crisis as cut off from Russian crude oil, losing 30% of imports. Can other sources meet total demand? : Ken Research

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 Storyline

1. Netherlands imports $86.7M in fuel/lubricant pumps, becoming the top global importer. Primary sources: UK, Germany, Slovakia, Italy, and the US.
2. Russian crude oil ban disrupts Dutch refineries, potentially reducing production. Refineries seek alternative crude sources and process adjustments.
3. Dutch heating oil prices volatile from 2000-2021. Record low of 564.2 euros/1000 liters in 2000, peaking at 1,168.6 euros/1000 liters in 2021 due to Russian-Ukraine conflict.

Introduction

The ban on importing Russian crude oil took effect on 5 December 2022, followed by a ban on importing Russian petroleum products such as diesel and Kerosene on 5 February 2023. Since December 2022, Russian crude oil has stopped entering the Netherlands, having accounted for 30% of crude oil imports in 2022 as a whole.

1.Diversification of Lubricant Oil Sources

In 2021, Netherlands imported $86.7M in Pumps dispensing fuel, lubricants in filling stations, becoming the 1st largest importer of Pumps dispensing fuel, lubricants in filling stations in the world.

 

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In 2021, Netherlands imported $86.7M in Pumps dispensing fuel, lubricants in filling stations, becoming the 1st largest importer of Pumps dispensing fuel, lubricants in filling stations in the world. At the same year, Pumps dispensing fuel, lubricants in filling stations was the 1092nd most imported product in Netherlands. Netherlands imports Pumps dispensing fuel, lubricants in filling stations primarily from: United Kingdom ($70.9M), Germany ($7.6M), Slovakia ($1.66M), Italy ($1.28M), and United States ($1M).

2."Refinery Rumble: How the Russian Crude Oil Ban Impacts Netherlands' Refineries"

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The Netherlands is home to several large oil refineries that process imported crude oil. The absence of Russian crude oil can affect the operations of these refineries, potentially leading to reduced production or operational adjustments. Refineries may need to adapt by sourcing different crude oil grades or making changes to their refining processes.

3.Heating Oil in the Crossfire: Russian-Ukraine Conflict Sparks Price Surge in heating oil and Market Turbulence in Netherlands

In 2021, the average price for heating oil reached 1,168.6 euros per thousand liters in the Netherlands. In the period of consideration, the average prices for heating oil in the Netherlands in euros per thousand liters were somewhat volatile from 2000 to 2021. The price peaked in 2021, and reached the record low of 564.2 euros per thousand liters in 2000.

India 2W MBO Market is expected to grow 11% CAGR owing to the rise in the sales of E2W, high traction from luxury motorbike segment and digitalization of the on-boarding process: Ken Research

 The India 2W MBO Market is highly fragmented major with players occupying almost half of the market. The key players operating in the market are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. Some of the major players in the market include Bajaj, Suzuki, Honda, Ather, Mahindra, hero, Speed Force, AutoevMart among others.

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• As per ICRA, the electric two-wheeler sector is expected to grow by 8-10% per annum.
• Many superbike clubs have sprung up in the past few years.
• As per expert projections, by 2023, the luxury bike segment may grow up to $161 Mn in India.
• To capture the rural market players are trying to include Digi locker based on boarding process in the rural areas.
• This will simplify the process and help in seamless and time efficient connection. 

Government Subsidies: In order to boost EV manufacturing, the DHI recently increased the subsidies for E2Ws from Rs 10,000 per kWh to Rs 15,000 per kWh - a 50% increase. Only e-scooters with an avg. speed of 40 kmph and a range equal to or greater than 80 km qualify for the FAME II EV subsidy scheme.

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Future of EV in India: The E2W Market is expected to grow at double digit CAGR (2021-2027). EV adoption in India over the next five years is going to be essentially driven by two-wheelers and three-wheelers. The e-2Wmarket in India is developing on account of increased government policies supporting battery-powered vehicles, the growing cognizance toward the environment, snowballing petrol prices, and strict emission norms.

Finance Engagement Model: Banks mostly provide loans to an MBO via authorized dealer. Invoice is generated by the authorized dealer. NBFCs mostly directly partners with the MBO. Basic documentation is completed by a MBO executive. Both the party’s partner with a DSA to receive loan enquiries in most cases. DSA Codes are generated to give payouts to the MBOs. Organized Financers dealing with the MBOs directly are mostly unregistered MBOs.

Analystas at Ken Research in their latest publication “India Two Wheelers MBO Market Outlook to 2027F- Driven by EV sales penetration and high demand from semi-urban as well as rural areas is driving the sales from MBOs of two wheelers” by Ken Research observed that 2W MBO market is an emergent vehicle market in India at a rebounding stage from the economic crisis after pandemic but has shown growth after covid. The rising government policies and the hard push given by the EV foreign brands and increase in loan requirement is expected to contribute to the market growth over the forecast period. The market is expected to grow at a ~10% CAGR during 2023-2027F owing to high penetration E2W with multiple players.

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Key Segments Covered in the report

India 2W MBO Market 

By Type of Vehicle (By Basis of Volume) FY’2022 and FY’2027F

• Motorcycle
• Scooter 

By Type of Bike (By Basis of Volume) FY’2022 and FY’2027F

• Commuter
• Sports
• Scooter

By Organized and Unorganized (By Basis of Volume) FY’2022 and FY’2027F

By Region (By Basis of Volume) FY’2022 and FY’2027F

• North
• South
• East
• West

 By Brand (By Basis of Volume) FY’2022 and FY’2027F

• Honda
• TVS Motor Company
• Bajaj
• Hero MotoCorp

 By Engine Capacity (By Basis of Volume) FY’2022 and FY’2027F

• 100-110CC
• 125CC-135CC
• 150CC-200CC
• others

 By 2W Specification (By Basis of Volume) FY’2022 and FY’2027F

• ICE 2W
• EV 2W

By Financing & Non-Financing (By Basis of Volume) FY’2022 and FY’2027F

• Financing
• Non-Financing

By Gender

• Male
• Female

 Key Target Audience: 

• Two-Wheeler OEM’s
• Two-Wheeler Dealers
• Online Portals (Aggregators/Marketplace Platform)
• Online Classified Platforms
• E-Commerce & Hyperlocal Companies
• Private Equity Investors
• 2W Manufacturers

Time Period Captured in the Report:

Historical Period: 2016-2022P

• Base Period: 2022P
• Forecast Period: 2023F-2027F

 Companies Covered:

• AutoEV Mart by Greaves (Cotton Greaves Ltd)
• BikeWo Mobility Pvt Ltd
• Blive (Arcis Clean Energy Pvt. Ltd.)
• Eco EVOLS Private Limited
• FAE Bikes
• M2Go Electric Vehicle Pvt Ltd
• Mad About Wheels Pvt Ltd
• Moto Vault
• Motoroyale India Pvt Ltd
• Hero
• Honda
• Suzuki
• City Motors
• Bajaj

Key Topics Covered in the Report

• India 2W MBO Market Introduction
• India 2W MBO Market Size, 2017-2022
• India 2W MBO Market Segmentation, 2022
• Growth Driver and Issues in India 2W MBO Market
• SWOT Analysis and Trends in India 2W MBO Market
• Snapshot of EV Penetration in India 2W MBO Market, 2022
• Company Profiles of Major Players
• Future Outlook to India 2W MBO Market
• Analyst Recommendations

Vietnam's Collaborative Leap: Joining Forces with Pfizer, a Leading US Vaccine Developer: Ken Research

 Vietnam Aims for Collaborative Partnership with Pfizer Inc. to Enhance Medicine and Vaccine Supply, and Encourage Investment in Drug Production and Medical Biological Products

Storyline

• Vietnam's economic progress attracts Pfizer, leading to a partnership with Medochemie in the country's growing market.
• Pfizer shares advanced technology with Medochemie, enabling the production of around a dozen Pfizer medications, including sterile injectables.
• Medochemie, a Cyprus-based pharmaceutical company with established manufacturing sites in Vietnam, collaborates with Pfizer to tap into the country's expanding market.
• Through the alliance, Medochemie gains the capability to manufacture Pfizer medications, including sterile injectables, leveraging Vietnam's economic transformation.

Vietnam wishes to cooperate with Pfizer Inc., one of the world’s leading pharmaceutical and biotechnology companies, in medicine and vaccine supply, and hops it will invest in production of drugs, vaccines and medical biological products in the Southeast Asian nation in the near future, Deputy Minister of Health Do Xuan has said.

Introduction

Vietnam, a country that has made significant strides in its economic development, is now aiming for a collaborative partnership with Pfizer Inc., a renowned global pharmaceutical and biotechnology company. The objective is to enhance the supply of medicines and vaccines while encouraging Pfizer to invest in the production of drugs, vaccines, and medical biological products within the Southeast Asian nation.

1. Pfizer Teams Up with Medochemie to Expand Drug Manufacturing in Thriving Vietnamese Market.

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Medochemie, located in Cyprus, has three production locations in Vietnam and is acquiring Pfizer technology that will allow it to manufacture approximately a dozen Pfizer medications, including sterile injectables.

Vietnam's economy has progressed from one of the world’s lowest to one that is comfortably middle-income. Pfizer has taken notice and forged a collaboration to produce several of its products in the fast expanding Asian market.

The firm has reached an agreement with Medochemie, a Cyprus-based pharmaceutical company with three manufacturing facilities in Vietnam. Pfizer will transfer technology to Medochemie that will allow it to produce 11 Pfizer pharmaceuticals, including four sterile injectables and seven tablets.

Medochemie operates three factories in Vietnam:

• one for tablets and capsules,
• another for gels and creams,
• And a third for sterile injectables.

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Pfizer did not disclose the amount of money that will be invested in the business, but the Vietnam Economic Times claims that Medochemie has committed $100 Mn in Vietnam to grow its locations. They have a total area of around 63,500 square metres and manufacture approximately 100 pharmaceuticals in the nation.

2. Pfizer Joins the Race, Enters the Country Following Competitors.

• In 2016, Sanofi struck a deal with VinaPharm to invest $75 Mn in a Sanofi manufacturing facility in Ho Chi Minh City to make prescription, generic and over-the-counter drugs.
• The same year, Japan's Taisho paid $97 Mn for a minority stake in Vietnamese firm DHG Pharma.
• Abbott bought Vietnamese manufacturer Glommed for an undisclosed sum, adding two local manufacturing facilities.

According to Ken Research: As Vietnam continues to attract foreign investments in its pharmaceutical industry, Pfizer's collaboration with Medochemie marks another significant milestone. With a focus on expanding medicine and vaccine supply, as well as promoting local drug production and medical biological products, Vietnam demonstrates its commitment to advancing healthcare capabilities. The partnership between Pfizer and Medochemie aligns with the country's vision of becoming a thriving hub for pharmaceutical innovation and accessibility in the Southeast Asian region.

Indonesia Cybersecurity Market Size & Share Analysis: Ken Research

 Indonesia Cybersecurity Market Size & Share Analysis: Ken Research

What is the Size of Indonesia Cybersecurity Industry?

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

The Indonesia Cybersecurity Market is largely driven by high internet penetration, adoption of advance technologies, favorable government initiatives, emergence of new players and influx of foreign investments.

As Indonesia continues to experience rapid digital transformation, the number of connected devices, networks, and online services is increasing, providing more opportunities for cyber criminals to target vulnerable systems through different ways like ransomware attacks, phishing attacks, malware attacks etc. These cyber threats pose a significant risk to businesses and organizations in Indonesia, making it necessary for them to invest in cybersecurity solutions to protect their digital assets.

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Furthermore, with the increasing number of cyber threats and data breaches, individual and organization are becoming more aware of the importance of protecting their digital assets and data. The Indonesian government has also taken initiatives to raise public awareness like “Cybersecurity Awareness Program” (CAP). This program aims to educate citizen, businesses and government agencies some measures they can take to protect themselves from cyber-attack. The cybersecurity industry also regularly hosts events and conference to discuss latest trends and threat in field.

Indonesia Cybersecurity MARKET By Component

The Indonesia Cybersecurity market is segmented by Component into Hardware, Software and Services.

Service is the dominant segment in the Indonesia cybersecurity market in 2022.

Services play a crucial role in addressing the complex and evolving cybersecurity landscape by providing specialized expertise, consulting, implementation, and managed security services. With the increasing sophistication of cyber threats and the need for proactive defense strategies, organizations in Indonesia are expected to rely heavily on cybersecurity service providers to safeguard their digital assets.

Indonesia Cybersecurity MARKET By Security

The Indonesia Cybersecurity Market is segmented by Security into Network Security, Endpoint Security, Application Security, Cloud Security and Others.

Network security is the dominant segment in the Indonesia cybersecurity market in 2022.

As network security is essential for protecting the connectivity and infrastructure of organizations, ensuring secure data transmission, and defending against network-based attacks. As cyber threats continue to increase in complexity and scale, the need for robust network security solutions becomes paramount. With Indonesia's growing digital landscape and reliance on interconnected systems, network security is expected to be the dominant segment in the future as well due to its critical role in safeguarding the overall cybersecurity posture of organizations in the country.

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Indonesia Cybersecurity Market By Deployment Type

The Indonesia Cybersecurity market is segmented by Deployment type into On-Premise and Cloud.

The Cloud deployment type is the dominant segment in the Indonesia cybersecurity market in 2022.

Cloud deployment offers several advantages, such as scalability, cost-effectiveness, and flexibility, making it increasingly popular among organizations in Indonesia. Cloud-based cybersecurity solutions allow businesses to leverage advanced security technologies without the need for extensive infrastructure investment or maintenance. Additionally, the ability to access security services remotely and the seamless integration with cloud-based applications are driving the adoption of cloud deployment in the cybersecurity market.

Indonesia Cybersecurity Market By Organization Size

The Indonesia Cybersecurity market is segmented by Organization Size into Medium & Small Enterprises and Large enterprises.

Large enterprises are the dominant segment in the market in 2022.

Large enterprises typically have more resources, sensitive data, and a higher risk profile, making them prioritize cybersecurity investments. They have the financial capability to implement robust cybersecurity solutions, hire dedicated cybersecurity teams, and comply with regulatory requirements. Moreover, large enterprises often face more targeted and sophisticated cyber threats. Due to these factors, the large enterprises is expected to be the dominant segment in the future as well.

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Indonesia Cybersecurity Market By Industry

The Indonesia Cybersecurity market is segmented by Industry into BFSI, Government Sector, IT, Telecom, E-Commerce, Healthcare, Retail and others.

The BFSI is the dominant segment in the Indonesia cybersecurity market followed by Governments in 2022.

The BFSI sector handles a vast number of financial transactions, customer information, and sensitive data, making it a prime target for cyberattacks. The industry's high-value assets and the potential impact of breaches drive the need for robust cybersecurity measures. Similarly, the Government sector manages critical infrastructure, sensitive government data, and provides essential services to citizens. The sector's significance and the potential consequences of cyber incidents make it imperative to invest in strong cybersecurity defenses.

Competition Scenario in Indonesia Cybersecurity Market

Indonesia Cyber Security Market is at growing stage and has moderately fragmented market. The increasing digitization of the Indonesian economy and the growing awareness of the need for cybersecurity measures has driven the demand for cybersecurity solutions in the country. While there are several major players operating in the market, such as Kaspersky lab, Symantec and McAfee, there are also many smaller companies offering specialized cybersecurity solutions such as Telkomsel, telekomunikasi Indonesia and XL Axiata.

What is the Expected Future Outlook for the Overall Indonesia Cybersecurity Market Across the globe?

The Indonesia Cybersecurity 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 Indonesia Cybersecurity market is driven by high internet penetration in the country, adoption of advance technologies, favorable government initiatives, emergence of new players and influx of foreign investments. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Indonesia has seen an increase in foreign investment in its cybersecurity market mainly because of growing demand for cybersecurity solutions, increasing internet penetration and growth of digital economy. For instance, global cybersecurity companies like Symantec, Kaspersky, and McAfee have all established a presence in Indonesia, either through direct investment or partnerships with local companies. Furthermore, there is an increase in venture capital (VC) investments in Indonesian cybersecurity startups. This has also helped these startups to grow and develop innovative cybersecurity solutions that can compete with established international companies.

Indonesia has an estimated 140 million internet users, making it the fourth-largest internet market in the world, with millions of people coming online each year, more businesses in Indonesia are adopting digital technologies as the need for better cybersecurity measures has grown. This has created new opportunities for the growth of the cybersecurity market in Indonesia, as businesses and individuals seek to protect their digital assets and sensitive information from cyber threats. The increasing internet penetration has also created new market segments for cybersecurity solutions and services, such as cloud security and mobile security. Thus, the increasing internet penetration in Indonesia has driven growth in the country's cybersecurity market.

Furthermore, the Indonesian Cybersecurity market is expected to continue to grow in the coming years. The increasing digitization of the economy, the growing awareness for cybersecurity and the increasing number of cyber-attacks, are expected to drive the demand for cybersecurity solutions. Additionally, with the growing of e-commerce market in Indonesia, there will be a growing need for secure payments system and protection against cyber threats. As a result, there will likely be significant opportunities for investment in the Indonesian cybersecurity market in the coming years.

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Indonesia Cyber Security Market Outlook to 2027F

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KSA Cybersecurity Market Outlook to 2026E

Vietnam Cybersecurity Market Outlook to 2025

Revving Up Indonesia's P2P Lending Market: 3 Catalyst Driving the Indonesia's P2P Lending Market: Ken Research

 Indonesia has witnessed a rapid increase in internet and smartphone usage, leading to greater accessibility and creating a conducive environment for P2P lending platforms to reach a large customer base.

Introduction

The peer-to-peer (P2P) lending market in Indonesia has experienced significant growth in recent years, driven by various factors. P2P lending platforms, also known as financial technology (FinTech) platforms, provide an alternative financing option for individuals and businesses, particularly those who are underserved by traditional financial institutions. Here is an overview of the Indonesia P2P lending market.

Storyline

• Surging Prosperity: The thriving middle class and soaring incomes in Indonesia contribute to the country's upward trajectory, economic growth, better governance, and like giving lending platforms the chance to draw consumers by charging cheap interest rates.
• Large Unbanked Population in the Philippines: Despite progress, around 44% of Filipinos remain unbanked due to factors like lack of trust, financial literacy, and funds, creating opportunities for digital financial solutions and lending platforms.
• Rising Demand from SMEs: The increasing number of small and medium-sized enterprises (SMEs), especially those founded by young individuals and women, highlights the need for financial inclusion and access to loans, with P2P lenders catering to the underbanked segment.

1. Surging Prosperity: The Thriving Middle Class and Soaring Incomes.

Investment opportunities Indonesia Lending Market

Indonesia has seen tremendous progress in poverty reduction over the past couple of decades and, as a result, has made a successful transition from low-income to middle-income country status. As millions have moved out of poverty and extreme poverty, we have also witnessed the rise of Indonesia’s middle class, which now accounts for 20 percent of the total population, or 52 Mn Indonesians. This group important for Indonesia’s upward trajectory, but it still too small for the ambitions of Indonesia. Expanding the middle class will boost economic growth, strengthen an influential constituency for better governance, and creating opportunities for lending platforms to attract customers by offering low interest rates.

2. Large Unbanked Population in Philippines!

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According to the latest Bangko Sentral ng Pilipinas (BSP) Financial Inclusion Survey (FIS), The rate of account ownership soared to 56% in 2021 from a mere 29% in 2019. Still, while the Philippine banking industry has made impressive strides in recent years, it’s undeniable that there’s still work to be done. Banking and other digital financial solutions remain untapped opportunities for almost half of the Filipino population.

It’s important to understand why it exists in the first place. Why do 44% of unbanked Filipinos refuse to make the shift? According to World Bank, more than 90 Mn in Indonesia remain unbanked, leaving opportunity for lending platforms to attract customers by offering low interest rates. Some of the reasons are-

• Lack of Trust in Financial Institutions
• Lack of Financial Literacy
• Lack of funds

Lack of funds is another reason many Filipinos still can’t open a bank account. In fact, according to FIS 2021, it’s the top reason a huge percentage of Filipinos are still financially excluded. Almost half (45%) of the unbanked Filipinos cited this as the main challenge to owning a formal account.

3. Rising Demand from Small and medium-sized enterprises (SMEs)

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30% of MSMEs created in 2006 or earlier were founded by people under the age of 35, while 45% of MSMEs in that same period were founded by women. In 2017, these figures rose to 80% and 64%, respectively. Notably, survey results reveal an increase in MSMEs launched in 2017, from 18 in 2016 to 70 in 2017.

Within the unbanked segment, AFTECH reports that there are close to 49 Mn underbanked SMEs, further extending Indonesia’s financial inclusion challenge to individuals and small businesses that are struggling to get loans at reasonable rates from commercial banks, therefore shifting their needs towards P2P Lenders.

Conclusion:

The halt in Russian crude oil imports since December 2022, which accounted for 30% of the Netherlands' crude oil imports in 2022, can lead to diversification of crude oil sources, impact refineries, influence price dynamics, and affect trade relationships. This development highlights the need for the Netherlands to adapt its energy supply chains and explore alternative suppliers. The shift in crude oil imports can also align with the country's sustainability goals and promote a transition towards renewable energy sources.

4 trends driving the Netherlands Lubricants Market : Ken Research

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Storyline

• Dutch government's emphasis on high-tech manufacturing and industrial automation has spurred the demand for specialized lubricants in automotive, warehousing, and semiconductor sectors.
• The sale of used vehicles in the Netherlands has surged by 16%, reaching 1.33 Mn vehicles from 2017 to 2021, driving the need for aftermarket services, including lubricants.
• The rising popularity of ride-sharing mobility is projected to increase shared car numbers by 17.7% annually, reaching around 337,000 cars by 2030, resulting in a higher demand for lubricants due to increased wear and tear.

Introduction

Foreign Direct Investment (FDI) in the industrial sector has been on the rise, with various sub-sectors attracting significant attention. Among them, food processing, electronic components, and machinery manufacturing stand out as top sectors, requiring specialized lubricants. The Netherlands, known for its thriving food industry, has over 7,300 food companies generating a substantial USD 88 Bn in revenue in 2021.

1.Growing FDI in Industrial Sector

Total value of Foreign Direct Investments (FDI) in the Netherlands from 2015 to 2021.

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Top sub-sectors of FDI: Food processing, electronic components and machinery manufacturing, etc., requiring specialized lubricants. The FDI data reached an all-time high of 260.5 USD bn in Sep 2007 and a record low of -280.6 USD bn in Dec 2018. In the latest reports of Netherlands, Current Account recorded a surplus of 4.4 USD bn in Dec 2022.

Netherlands has 7,300+ food companies generating USD 88 Bn (2021).

As incoming FDI increases in electronic components, machinery manufacturing and food processing sectors, demand for lubricant automatically increases. As these industries require lubricants, therefore lubricant market expands.

2.Rise in Complex Manufacturing Capabilities

The High-Tech Top Sector is characterized by large multinationals such as Philips, ASML, NXP, Océ and Tata Steel and international collaboration with high-tech SMEs, universities and knowledge institutes such as the Holst Centre and the Embedded Systems Institute. The High-Tech Top Sector employs 452,000 FTE in the Netherlands, which represents 6.46% of the Dutch employment market. The sector encompasses different disciplines such as materials production, automotive and the high-tech manufacturing industry and is closely interwoven with the Logistics Top Sector and the Information and Communication Technologies (ICT) services industry.

High tech & complex manufacturing is the key focus of the Dutch government. In this, industrial automation in automotive, warehousing, semiconductors, etc., are becoming key users of hydraulic systems & fluids used at high temperatures and in automated machineries, like robotic arms, joints and hinges.

3.Rising Demand for Second Hand Cars

Number of second-hand passenger cars sold in the Netherlands in 2017 and 2018, by car model

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The sale of used vehicles in the Netherlands has experienced a remarkable growth trajectory in recent years, facilitated by the presence of popular classified portals like Ooyyo, Marktplaats, AutoScout24, and others. From 2017 to 2021, the number of used vehicles sold through these platforms witnessed a substantial 16% increase, reaching a significant milestone of 1.33 Mn vehicles.

This surge in the sale of used vehicles has created a ripple effect across the automotive industry, driving the demand for various aftermarket services, including lubricants. When purchasing a used vehicle, one of the key considerations for buyers is to ensure the optimal performance and longevity of the vehicle. This is where lubricants play a vital role.

4.Increasing Demand for Ride Sharing Mobility

The number of shared cars would grow by 17.7% yearly, from ~78,000 in 2021 to ~337,000 in 2030, generating revenue of USD 30 Mn by 2030. Average daily distance travelled by shared car is 93 Km, while private car travels 46 Km. This increases the need for constant change of lubricants due to higher wear & tear in shared cars.

Conclusion

With growing FDI in the industrial sector, the Netherlands sees a rising need for specialized lubricants in sub-sectors like food processing, electronics, and machinery manufacturing. The government's emphasis on high-tech manufacturing drives lubricant demand in industrial automation. The surge in used vehicle sales and the popularity of ride-sharing contribute to the expanding lubricant market. These trends position the Netherlands' lubricant industry for sustained growth and opportunities in the future.

Australia Corporate Training Market Is Growing At A CAGR Of ~% In 2017-2022 And Is Expected To Reach AUD ~ Bn By 2027F – Ken Research

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What Is The Size Of Australia Corporate Training Industry?

The Australia Corporate Training Market is largely driven by virtual training, organizations need and rise in learning requirement.  Also, Video-based e-learning has quickly became one of the most useful forms of education. The use of videos in the learning process, both uploaded and streamed, is a result of advances in high-speed internet networks.

Learning techniques are enhanced by video-based learning. Furthermore, video-based learning allows the user to watch the video at any time and from any location, and students can rewind, save, and re-watch the content at their leisure.

Additionally, to ensure workforce efficiency, an increasing number of organizations in Australia has modernized their training environment by incorporating e-learning tools.

Learning management systems, which provide all of the requirements for successful training practice management, such as performance management, administration, and content management, as well as the delivery of distinct and customized courses for employees, complement these solutions.

As a result, people's attention is shifting to online learning platforms, which is helping the LMS market grow.

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Australia Corporate Training Market By Industry Verticals

The Australia Corporate Training market is segmented by industry verticals into IT, telecom, FMCG, automotive, manufacturing, BFSI and healthcare.  Telecom vertical holds the largest share as they need new fresher’s trained on large scale regularly.

Australia Corporate Training Market By Deployment

The Australia Corporate Training market is segmented by deployment into on-site and off-site.

Off-site has been a preferred mode especially in cases where in the client lacks the required training infrastructure and cost para meters. However, if the client’s is resourceful and has requirement has a lot of customizations aligned to their business goals, they might opt for an On-site training mode. Due to Covid-19 Pandemic most of the trainings was shifted to online platforms.

Australia Corporate Training Market by Designation of employee

The Australia Corporate Training market is segmented by designation of employee into managerial, non-managerial and integrated.

Freshers and young professionals who are just 1-3 years old in their career are given most of the non-managerial trainings. Also, Managerial trainings are on the rise in Australia. Managers are required to avail trainings in new innovative business models & disruptive technologies for efficient deployment of resources.

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

• Corporate Training Companies
• Ed-tech Companies
• Self-Based Learning Platforms Companies
• Freelance Trainers
• Industry/Corporate Coach
• Contractual Professional Trainers
• Industry Veterans
• IT Solutions and Support Companies
• Top UG/PG Private Universities
• Retired Experienced Faculties
  Time Period Captured in the Report
• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027F

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Australia Corporate Training Market

Bahrain Catering Service Market Size, Revenue, Forecast to 2027: Ken Research

 What Is The Size Of Bahrain Catering Service Industry?

Bahrain Catering Service Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Bahrain Catering Service Market is largely driven by rising adoption of automated kitchen in catering services, surging focus on healthier meals and rising tourism in the nation.

The Bahrain Catering Service Market is largely driven by urbanization and changing lifestyles. There has been a change in the demand for catering services in recent years, supported by the quickly developing business-to-business (B2B) events sector and food and beverage services being offered at a growing number of corporate events. Furthermore, the market for catering services is growing because of factors including hectic lifestyles and difficulties associated with cooking.

Contactless payments and in-app ordering are two of the newest developments in the in-flight catering industry.

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Furthermore, by providing high-quality food and guaranteeing little wait time, catering service companies are attempting to improve the complete client experience.

The growing preference among customers for fresher, healthier foods is boosting the worldwide catering services market. The catering service operators have shifted their emphasis to providing healthier meals made in-house using fresh ingredients. The market is expanding because of the increased focus on implementing technology to enhance the customer experience and minimize time spent waiting for food.

Bahrain Catering Service Market By Type

The Bahrain Catering Service market is segmented by Type into Contract catering and non-Contract catering.

Non-Contract type was the most dominant type in Bahrain Catering Service market in 2022.

Bahrain Catering Service Market By End-User

The Bahrain Catering Service market is segmented by End-User into In-Flight, Oil & Gas, Hospitality, Healthcare, Education, Corporate and Others.

The corporate users were the most dominant segment in the Bahrain Catering Service Market. This is a result of multinational corporations expanding their presence and boosting their expenditures within the nation.

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Competition Scenario In Bahrain Catering Service Market

Bahrain Catering Service Market is in the growing stage, having a consolidated market with just few companies acquitting the major portion of the market. Bahrain Catering Service market is fragmented with the manifestation of small, medium and large corporations. Some of the major players in the Bahrain Catering Service market are Promoseven Holdings, United Caterers and Contractors, Mohammed Jalal Catering, Foosco, Food City etc.

What Is The Expected Future Outlook For The Overall Bahrain Catering Service Market?

The Bahrain Catering Service 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 Catering Service market is driven by rising adoption of automated kitchen in catering services, surging focus on healthier meals and rising tourism in the nation. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

The Bahrain Catering Services Market is projected to show significant growth in the coming years. It is expected to be driven by quickly developing business-to-business (B2B) events sector and food and beverage services being offered at a growing number of corporate events. Growing health consciousness such as being vegan and eating green food in Bahrain cuisines is affecting an individual’s order pattern.

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The growing demand for locally produced fresh farm produce, such as fruits, vegetables, and meat items, is also fueling the catering services market.

In addition, hotels and restaurants are developing novel catering services, which are expected to fuel the catering service industry.

Moreover, the market for catering services will be growing because of factors including hectic lifestyles and difficulties associated with cooking at home. Also, hotels and restaurants are coming up with innovative catering services, which are expected to fuel the catering service industry. The market will also expand because of the increased focus on implementing technology to enhance the customer experience and minimize time spent waiting for food. Specialized catering services are increasing in demand as global multinational corporations are quickly expanding in emerging regions of Bahrain.

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Bahrain Catering Market Outlook to 2027F

Australia Plastic Pipes Market Analysis, Revenue, Outlook to 2027: Ken Research

 What Is The Size Of Australia Plastic Pipes Industry?

Australia Plastic Pipes Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach AUD ~ Bn by 2027F.

The Australia Plastic Pipes Market is largely driven by expansion of the infrastructure, government initiatives, high demand, and more awareness.

PVC pipes have gained popularity across continent owing to their favorable properties such as light-weight, cost-effectiveness, easy installation and durability. Apart from this, their excellent heat and electrical insulation properties have led to their usage in electrical fittings. These pipes do no rot, wear or rust over time and can withstand rigorous shaking and extreme movement in earthquake-prone zones. Owing to these factors, PVC pipes are continuously replacing other piping materials.

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Also, the primary driving factors in the market is the growing use of PVC pipes in the construction industry for applications such as water supply, housing and commercial, sewage and drainage, and irrigation. Furthermore, an increase in demand for PVC pipes in variety of applications such as chemical handling, building infrastructure, PVC molded material, as well as the good physical qualities such as durability, mechanical stability, chemical resistance, mouldability of such pipes, drives rising demand for PVC pipes.

Australia Plastic Pipes Market By End-User Application

The Australia Plastic Pipes market is segmented by end-user application into plumbing and civil, agriculture, mining and industrial, telecom and electrical and others.

Plumbing and civil application has comparatively higher market share in 2022 due to large scale of real estate construction undertaken by the private sector in Australia.

Mining, Chemical and Oil sectors are widely present in Australia owing to which, these industries contributed a significant share in the demand for plastic pipes and fittings in the country. Other applications include transfer of gas, HVAC, and other related industries.

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Australia Plastic Pipes Market By Type Of Pipes

The Australia Plastic Pipes market is segmented by types of pipes into PVC, Polyethylene and others. PE pipes had the largest market share. PVC pipes had second biggest market share as these types of pipes are less costly compared to PE pipes and are widely used in various sectors such as water pipelines and sewage pipelines. It has been witnessed that PVC has been mainly substituted by PE pipes in various application, which resulted in PE pipes gaining significant market share in the overall market.

Australia Plastic Pipes Market By Type Of Market Structure

The Australia Plastic Pipes market is segmented by types of market structure into organized and unorganized market.

Australia Plastic Pipes has higher share of organized market players in 2022 as there are few top players in the market which holds most of the market share.

Also, the organized companies have a strong market presence, a wide distribution network, and the ability to offer consistent quality products. They have also invested in research and development, innovation, and marketing efforts to maintain their competitive edge.

In contrast, the unorganized market segment consists of smaller, local players with limited resources and less stringent adherence to industry standards. They also face challenges in terms of product quality, distribution capabilities, and branding.

Competition Scenario In Australia Plastic Pipes Market

Australia Plastic Pipes Market is at growing stage and has consolidated market. Top three players which include Iplex Pipelines, Vinidex and Pipemakers.

Iplex Pipelines, Australia is the biggest manufacturer of plastic pipes and fittings in the country. It is followed by Vinidex and Pipemakers. The manufacturers compete more on the basis of quality of the products and product availability in the wholesale and retail outlets and product customization at the time of bulk orders and price.

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What Is The Expected Future Outlook For The Overall Australia Plastic Pipes Market?

The Australia Plastic Pipes market was valued at AUD ~billion in 2022 and is anticipated to reach AUD ~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 Australia Plastic Pipes market is driven by rising awareness, rapid urbanization and domestic manufacturing, antimicrobial additives for plastic pipes. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, the plastic pipes and shapes market are expected to benefit from the rising awareness of advantages of plastic pipes and fittings over their substitutes. Plastic pipes and fittings are lighter in weight and cheaper than traditionally used metal pipes, and they do not rust or corrode. Plastic pipes also have insulative properties, which prevent the forming of condensation on pipes carrying cold water and decrease the heat loss in pipes carrying hot water. Other benefits of plastic pipes include quick installation times and long service life. The installation time for a PVC pipe was around 30% faster than a concrete pipe of the same size.  These factors are likely to boost the demand for plastic pipes and shapes and drive the market going forward.

Additionally, with this large and growing population, the demand for expansion of infrastructure and the construction of new building is also rising as more people are moving from rural to Urban cities. This is creating demand for infrastructure such as water supply and drainage system, gas supply system and sewage treatment plants etc., thus fueling the growth in plastic pipe industry of Australia.

Furthermore, The Australian government effort to promote housing industrialization will also contribute to the growth of plastic pipe industry as plastic pipe are often used in these projects because of their lightweight, corrosion resistance and ease of installation.

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Australia Plastic Pipe Market Outlook to 2027F

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Belgium Fitness Services Market, Overview and Genesis of the Industry Outlook to 2027: Ken Research

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What is the Size of Belgium Fitness Service Industry?

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

The Belgium Fitness Service Market is largely driven by increasing health awareness, rising obesity rates, technological advancements, corporate wellness programs, fitness tourism, changing lifestyles, and government initiatives.

Belgium, like many other developed countries, has been experiencing a rise in obesity rates. This has created a greater demand for fitness services as individuals seek to lose weight, maintain a healthy lifestyle, and combat obesity-related health issues.

The integration of technology in fitness services has played a crucial role in driving market growth. Fitness apps, wearable devices, and smart equipment have made it easier for progress, set goals, and access  personalized workout routines, thus enhancing the overall fitness experience.

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Belgium has a relatively high standard of living, and there has been a steady increase in disposable income among the population. This allows individuals to allocate a greater portion of their income towards fitness services, gym memberships, personal training, and other related activities.

The Belgian government has taken initiatives to promote physical activity and improve public health. These initiatives include campaigns, subsidies, and policies that encourage individuals to engage in regular exercise and fitness activities, leading to the growth of the fitness service market.

Belgium Fitness Service Market by market structure

The Belgium Fitness Service market is segmented by market structure into organized and unorganized market structure.

Organized fitness service providers such as gyms, fitness centers, and boutique studios have been on the rise, driven by increasing health consciousness and the demand for professional fitness services. These organized establishments offer a structured and well-equipped environment, diverse fitness programs that attracts more customers.

Belgium Fitness Service Market by gender

The Belgium Fitness Service market is segmented by gender into male and female.

The industry has experienced an increasing interest in fitness among individuals of all genders, reflecting a balanced participation and demand.

The market caters to the needs and preferences of both males and females, offering a wide range of fitness services and facilities to accommodate diverse goals and interests but in 2022 male still dominates the market.

Belgium Fitness Service Market by Revenue stream

The Belgium Fitness Service market is segmented by revenue stream into membership, personal training and supplementary services.

On the basis of revenue model, the membership segment exhibited the highest growth in Belgium fitness market. Memberships generally form the core revenue stream for fitness service providers, offering recurring income and long-term commitment from customers. While personal training and supplementary services contribute less to revenue, the membership segment often represents a larger customer base and consistent source of income also.

Belgium Fitness Service Market by subscription

The Belgium Fitness Service market is segmented by subscription into 1 month, 3 months, 6 months, 1 year.

3 months subscription plan has the highest share as it budgets friendly for new joiners.

Belgium Fitness Service Market by session type

The Belgium Fitness Service market is segmented by session type into group and solo.

In 2022, group sessions gained popularity in the Belgium fitness service market due to their ability to foster a sense of community, motivation, and social interaction among participants. Not only are group sessions cost-effective, but they also provide the opportunity to accommodate a larger number of individuals, making them attractive to a broader audience.

Belgium Fitness Service Market by Payment Method

The Belgium Fitness Service market is segmented by Payment method into Card, Cash, Bank Transfer, Digital wallet and Others.

the dominant segment in the Belgium Fitness Service market is the "Digital wallet" segment. Digital wallets provide convenience, security, and ease of use for both customers and fitness service providers. They allow seamless transactions and eliminate the need for physical cards or cash.

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Competition Scenario in Belgium Fitness Service Market

The Belgium fitness service market is growing due to heightened health consciousness among its urbanized and young population. It is witnessing competition between traditional gyms and emerging digital fitness platforms, both striving to offer personalized and diverse training programs. The market is fragmented, featuring a mix of local and international brands that provide a range of services, including group classes and premium wellness experiences. Urban areas exhibit greater concentration and competition, due to better accessibility and affordability. Meanwhile, rural regions remain relatively unexplored, presenting potential avenues for growth. As digitalization progresses and demographics evolve, market competition is expected to intensify.

What is the Expected Future Outlook for the Overall Belgium Fitness Service Market Across the globe?

The Belgium Fitness Service 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 Fitness Service market is driven by increasing health awareness, rising obesity rates, technological advancements, corporate wellness programs, fitness tourism, changing lifestyles, and government initiatives.  However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Belgium's population stands around 11.5 million in 2023. A significant portion, nearly 65%, is aged between 15 and 64 years. This demographic, combined with a growing older population keen to maintain health and fitness, forms a substantial consumer base for the fitness industry which will led to market growth in the upcoming years.

With a GDP per capita of approximately $46,000 in 2023, Belgium ranks among the wealthiest countries in the world. High disposable incomes facilitate larger expenditures on health and fitness services, which will be a major growth driver for the market.

Belgium has a high urbanization rate, approximately 98% in 2023, resulting in easy access to fitness facilities and a propensity towards organized fitness services.

In Belgium, nearly 49% of adults were overweight or obese in 2023. This statistic is driving an increase in health consciousness, with many seeking fitness services to improve their health.

Belgium boasts an internet penetration rate of about 89% in 2023. This high connectivity provides a robust platform for online fitness services, including live-streamed classes and fitness apps.

Companies in Belgium are increasingly integrating wellness programs into their benefits packages. In 2023, approximately 40% of companies offered such programs to promote employee health and productivity.

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Belgium Fitness Service Market Outlook to 2027F

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