Smart parking is an integrated application of wireless communication technology, mobile terminal technology, GPS positioning technology, GIS technology, etc. in the collection, management, query, reservation and navigation services of urban parking spaces.

It realizes the integration of real-time update, query, reservation and navigation services of parking resources, maximizing the utilization of parking resources, maximizing the profit of parking lots and optimizing the parking services for car owners.

China’s car parc shows a year-on-year growth trend, and reached 280 million by the end of 2020, an increase of 21 million units or 8.1% compared with the end of 2019. On the one hand, the huge number of cars reflects the improvement of people’s quality of life brought by the strong momentum of economic development.

On the other hand, the resulting traffic congestion, road safety, parking difficulties and other serious phenomena have also had a negative impact on urban construction, especially the difficulty in parking, which has long been a common problem in major cities. The smart parking industry has thus become a major demand to improve the parking environment and meet the parking need.

China’s smart parking industry is still in its early stage, but the market scale is expanding at a fast pace. According to CRI’s analysis, China’s smart parking market size was only about CNY1.5 billion in 2010, and the market size has reached about CNY18.5 billion (USD2.85 billion) in 2021, with a remarkable CAGR of 20% from 2016 to 2021.

However, compared to the overall parking market size, the rate of smart parking equipment is still at a low level, and there is huge room for future improvement.

At present, there are many companies providing smart parking solutions in the Chinese market, with serious homogenization and fierce competition, leading most businesses to start price competition.

Due to the fierce competition, the gross margin of smart parking solution providers is only 10%, so most of them extend their business to the operation of parking lots. Operating a smart parking lot can bring long-term sustainable and lucrative parking fee income to enterprises. Moreover, building and operating a smart parking lot requires a lot of capital, a strong operation team, and a good partnership with local governments.

Overall, more than half of the smart parking projects in China are concentrated in the third-tier cities and below, while the rest are evenly distributed in the first and second-tier cities. This is because large and medium-sized cities in China have already started to layout smart parking in the early stage, the site rent is high, and the corresponding facilities are relatively perfect.

Hence, at this stage, the existing resources should be integrated before building new parking lots. Small cities and rural areas, however, need to add smart parking lots first due to imperfect parking equipment.

The cost of a set of smart parking system in China is about CNY30,000 (USD4,600). Compared with the new parking lot, the cost of smart upgrade on the basis of the existing parking lot is lower and the construction cycle is shorter, which is a more cost-effective solution.

According to the statistics, since the parking lots began to employ the smart parking system, the parking space turnover rate has been increased from 1.5-2 times/day to 7.5-8 times/day, which is a fourfold increase in turnover rate and greatly increases the supply of parking spaces. Smart parking efficiently solves the shortage in the number of parking spaces, and the penetration rate will continue to rise in the future.

Chinese governments at all levels have issued a series of policies to support the development of the smart parking industry, such as in the 14th Five-Year Plan (2021-2035) and the 2035 Visionary Goals, which mention that a number of smart parking lots should be constructed, parking management and traffic guidance should be strengthened, and the operational efficiency of public transportation should be improved.

CRI expects that China’s car parc will continue to grow from 2022-2030, which will promote the long-term development of China’s smart parking industry.

Topics covered:

• Smart parking market overview
• The economic and policy environment of smart parking
• What is the impact of COVID-19 on the smart parking industry?
• Global and China’s smart parking market size, 2016-2021
• Analysis of major smart parking companies
• Key drivers and market opportunities in the smart parking industry
• What are the key drivers, challenges, and opportunities for the smart parking industry during the forecast period 2022-2030?
• Which companies are the key players in the smart parking market and what are their competitive advantages?
• What is the expected revenue of the smart parking market during the forecast period of 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the smart parking market is expected to dominate the market by 2030?
• What are the major adverse factors facing the smart parking industry?

Related reports:

Parking Management Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

Smart Mobility Market : Global Analysis by Market size, share & trends for 2020-2021 and forecasts to 2031

Shared Mobility Market: Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030

Artificial Intelligence In Transportation Market : Global Analysis for 2020-2021 and forecasts to 2031

The post Research Report on China’s Smart Parking Market, 2016-2030 first appeared on CRI Report.

As one of the world’s leading footwear manufacturers, Vietnam Footwear Market ranks second in the world in terms of leather and footwear exports after China. Vietnam exports more than 1 billion pairs of footwear of all kinds of to hundreds of countries around the world every year. In particular, Vietnam’s footwear exports to the EU account for the largest proportion of the total exports.

By the end of 2021, there are about 2,200 enterprises producing footwear in Vietnam, mainly concentrated in the area around Ho Chi Minh City.

According to CRI’s analysis, two giant brands in the global footwear industry, Nike and Adidas, have chosen Vietnam as their main production base. Part of the global footwear chain is gradually shifting from China to Vietnam due to its lower costs. Nike has more than 100 suppliers in Vietnam, with 96 factories concentrated in the southern region.

Nike’s arch rival, Adidas, has also chosen Vietnam as its main production area. In its annual report (2020), Adidas suggested that in 2019, 98% of Adidas’ footwear products were produced in the Asian region. Vietnam has become the largest sourcing country for Adidas, accounting for 42% of its total footwear production in 2020.

According to CRI’s analysis, due to the impact of COVID-19, Vietnam’s footwear exports was USD16.75 billion in 2020, down 8.6% YOY. In 2020, Vietnam’s footwear products were exported to more than 100 countries, with exports to 70 of these countries exceeding USD1 million in footwear production. In 2021, Vietnam’s footwear exports have seen a resurgence in growth.

There is a more important basis for the bullishness of Vietnam’s footwear exports, that is, Vietnam has signed trade agreements helpful for exports with Europe and the United States. For example, in the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam’s footwear exports to the EU amount to about 40%.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has helped Vietnam’s footwear exports to Canada and Mexico soar.

Vietnam has signed many agreements with developed countries that are conducive to promoting exports, but the strength of Vietnam’s local footwear enterprises remains weak and the major market share of Vietnam’s footwear industry is occupied by foreign companies. According to CRI, Vietnam’s footwear production and exports are expected to continue to grow in 2022-2030.

For companies related to the international footwear industry chain, there are many investment opportunities in Vietnam’s market in the coming years.

Topics covered:

• Overview of Vietnam’s Footwear Industry
• Economic and Policy Environment of Vietnam’s Footwear Industry
• What is the impact of COVID-19 on the footwear manufacturing industry in Vietnam?
• Vietnam Footwear Market Size, 2016-2021
• Forecast on Vietnam’s Footwear Market, 2022-2030
• Analysis of Major Footwear Manufacturing Companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam Footwear Industry
• What are the key drivers, challenges and opportunities for the footwear industry in Vietnam during 2022-2030?
• What is the expected revenue of Vietnam’s footwear market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s footwear market is expected to dominate the market in 2030?
• What are the major adverse factors facing the footwear industry in Vietnam?

Related reports:

Luxury Footwear Market: Market Segments: By Product (Formal Shoes & Casual Shoes); Gender (Male, Female and Children); By Mode of Sale (Retail and Online); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

Athletic Footwear Market: Market Segments: By Product (Running Shoes, Sports Shoes, Aerobic Shoes, Walking Shoes and Trekking Shoes); Gender (Male, Female and Children); By Mode of Sale (Brick & Mortar and E-commerce); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

Global Polyurethane for Footwear Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

Footwear Market in India (2018-2023)

The post Research Report on Footwear Market in Vietnam, 2016-2030 first appeared on CRI Report.

Photovoltaic building is a new concept of applying solar power generation and is a perfect combination of solar photovoltaic system and modern building. It lays photovoltaic modules on the outer surface of building structure to provide electricity, integrating solar power generation system with roof, skylight, curtain wall and other buildings, building green and environmental protection housing.

In BIPV, BAPV is relatively mature. Currently, BIPV is in the initial stage. Under the guidance of “double carbon target”( that is, to achieve peak carbon dioxide emissions by 2030 and carbon neutrality by 2060), building energy efficiency and distributed PV policy, and continuous progress in BIPV standards, global BIPV and the market is expected to witness a rapid rise.

As of 2020, BIPV accounted for about 50% of the global distributed PV installed capacity, about 15% of the total PV installation. The combination of PV and building is gradually becoming an important part of the PV installation, which is dominated by the combination of PV building and BAPV.

In the world, the total installed capacity of BIPV in 2019 and 2020 amounted to 1.15GW and 2.3GW respectively, which is still in the initial stage before large-scale development, with huge space for future development.

According to CRI’s analysis, overall, the impact of COVID-19 on the global PV industry is relatively small.

In 2020, global newly installed capacity of PV reached 130GW, up 13% YOY; China’s newly installed capacity of PV was 48.2GW, up 60% YOY, ranking first in the world for 8 consecutive years, and the cumulative installed capacity reached 253GW, ranking first in the world for 6 consecutive years.

On October 24, 2021, China’s State Council issued the “Action Plan to Achieve Peak Carbon Dioxide Emissions by 2030” to accelerate green changes in production and lifestyle, promote economic and social development based on the efficient use of resources and green low-carbon development, and ensure that the goal of peak carbon dioxide emissions by 2030 is achieved on schedule.

The program calls for vigorous development of new energy, accelerating the development of intelligent photovoltaic industry, and promoting the diversified layout of photovoltaic power generation. It is planned that by 2030, the total installed capacity of wind and solar power generation in China should reach more than 1.2 billion kilowatts.

At the same time, the optimization of building energy structure should be accelerated. It is planned that by 2025, the replacement rate of urban buildings renewable energy should reach 8%, the photovoltaic coverage rate of new public institutions buildings and new plant roofs should reach 50%.

According to CRI’s analysis, in 2020, the rapid growth of China’s domestic photovoltaic power generation directly led to the great development of China’s photovoltaic industry chain links. In 2020, China’s polysilicon production was 392,000 tons, up 14.6% YOY; silicon wafer production 161.3GW, up 19.7%; cell production 134.8GW, up 22.2% YOY; module production 124.6 GW, up 26.4% YOY.

China’s production scale of each link in PV industry chain accounted for more than 50% of the world and continues to maintain the world’s first. The great development of China’s photovoltaic industry has also promoted the technological progress of the industry, leading to the further reduction in the production cost of photovoltaic products and electricity.

In recent years, China’s construction area of real estate development enterprises housing continues to increase. In 2020, housing construction area increased to 9.26759 billion square meters.

The Ministry of Housing and Construction indicated that in 2020, there were 630 million square meters of new assembled buildings in China, accounting for about 20% of the total new construction area, or about 3.15 billion square meters of new construction area in 2020. Moreover, China’s existing building area excels 40 billion square meters. All these indicates that there exists a huge potential for the BIPV market.

CRI expects that in 2022-2030, global and China’s PV market demand will continue to rise, and for investors, there are many investment opportunities in the BIPV industry chain.

Topics covered:

• BIPV Market Overview
• Economic and policy environment of BIPV
• What is the impact of COVID-19 on the BIPV industry?
• Global and China’s BIPV Market Size, 2016-2021
• Analysis of Major BIPV Companies
• Key drivers and market opportunities in the BIPV industry
• What are the key drivers, challenges, and opportunities for the BIPV industry during the forecast period of 2022-2030?
• Which are the key players in the BIPV market and what are their competitive advantages?
• What is the expected revenue of the BIPV market during the forecast period of 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the sector?
• Which segment of the BIPV market is expected to dominate the market in 2030?
• What are the major adverse factors facing the BIPV industry?

Related reports:

• Research Report on Vietnam’s Photovoltaic Market, 2016-2030
• Research Report on Global and China’s Polysilicon Industries, 2019-2023

The post Research Report on Global and China’s BIPV Market, 2016-2030 first appeared on CRI Report.

A fuel cell electric vehicle (FCEV) is a non-polluting vehicle that is powered by electricity generated from the vehicle’s stored high-pressure hydrogen and ambient air. These vehicles use hydrogen as an energy source and generate electricity from a fuel cell system.

This technology has the potential to be applied across the industry because of the unlimited storage of hydrogen as a fuel on the earth and the eco-friendly nature of the energy production process.

The biggest advantage of FCEVs over pure electric and plug-in hybrid vehicles is that hydrogen refueling usually takes only 3 minutes and the range can easily reach over 600 km. At the same time, hydrogen energy has the advantages of abundant sources, wide range of uses, high calorific value, light total weight and environmental virtues, etc., but is currently subject to greater infrastructure constraints.

In addition, the FCEV policy is favorable in the long term, and the scale of FCEV is accelerating. With the launch of FCEV demonstration and point evaluation, the total subsidy scale of fuel cell industry has saw a significant increase.

With the demonstrative city point and subsidy, the total subsidy amount of Chinese government will exceed CNY 4 billion (USD 620 million) per year with reference to the existing range of subsidized cities, and the industry scale will also increase significantly, driving the whole scale of industry chain to 10,000 units.

In China, local auto manufacturers have been launching FCEVs in succession. Among them, SAIC Group presented early in the field of hydrogen fuel cells, launching Rongwei 950 fuel cell passenger car in 2016, which stands for the first fuel cell passenger car to complete the announcement, sales and licensing in China.

Great Wall Motor’s first fuel cell vehicle type based on an exclusive platform was scheduled to be demonstrated in 2020. Geely Automobile, for its part, will launch a mass-production model with hydrogen fuel cells in 2025.

In 2020, global sales of FCEVs amounted to a total of 9,006, down 9.1% YOY. The sales of the U.S. and China witnessed approximately 50% decrease, only 937 (down 55% YOY) and 1177(down 57% YOY) respectively. Unlike the U.S., which was disturbed by the epidemic, China’s downturn in sales was mainly due to the shift in government subsidies and the development of demonstration city clusters.

In terms of hydrogen refueling stations, there were 553 hydrogen refueling stations worldwide by the end of 2020, including 107 new stations compared to 2019. 515 stations are open for service to the public and the rest are used for buses or within enterprises, etc., and are not open to the public.

Among them, Asia accounts for 49.73% of the world’s hydrogen refueling stations with 275 stations, followed by Europe with 36.16% of hydrogen refueling stations, reaching 200 stations. There are 6 countries with more than 30 hydrogen refueling stations in the world, among which Japan has the largest number of hydrogen refueling stations with 142 stations, followed by Germany with 100 stations and China with 69 stations.

The total number of hydrogen refueling stations in Japan, Germany and China is 311, accounting for 62% of the world, and these three countries are in the absolute leading position in hydrogen energy development.

By the end of 2020, 80 hydrogen refueling stations had been put into operation in China, and these stations are mainly concentrated in Beijing-Tianjin-Hebei, Yangtze River Delta and Pearl River Delta regions.

It is expected that 1,000 stations will be built by 2030. By the end of 2020, China had more than 7,000 FCEVs, making it the country with the largest number of fuel cell commercial vehicles in the world, which were mainly used in the Yangtze River Delta, Pearl River Delta and Beijing-Tianjin regions.

With the guidance of policy and market, China’s hydrogen and fuel cell vehicles will be on the fast track. It is expected that by 2025, the number of fuel cell vehicles in China will reach 100,000.

With reference to the development process of new energy vehicles, fuel cell vehicles will form a good industrial chain after the implementation of the “demonstrative application” policy, and are expected to see an explosion of production and sales around 2025.

Topics covered:

• • • Economic and Policy Environment of Hydrogen Manufacturing and Refueling Station Market
    • What is the impact of COVID-19 on the hydrogen manufacturing and refueling station market in China?
• Analysis on major hydrogen manufacturing and refueling station companies in China
  • • Key drivers and market opportunities for hydrogen manufacturing and refueling stations
    • What are the key drivers, challenges, and opportunities for hydrogen manufacturing and refueling stations during the forecast period 2022-2030?
    • Which are the key players in the global and Chinese hydrogen manufacturing and refueling stations market and what are the reasons for their success?
    • What is the expected revenue of China’s hydrogen manufacturing and refueling station market during the forecast period 2022-2030?
    • What are the strategies adopted by the key players in the market to increase their market share in this industry?
    • Which segment of the hydrogen manufacturing and refueling stations market is expected to dominate the market in 2030?
    • What is the competitive landscape of the hydrogen manufacturing and refueling stations market in China?
    • What are the major detrimental factors restraining the growth of the hydrogen manufacturing and refueling stations market in China?

Related reports:

Green Hydrogen Market : Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2031

Green Hydrogen Market & A Global and Regional Analysis: Focus on Application, Technology – Analysis and Forecast, 2021-2031

Global Hydrogen Generation Market By Technology Type (Partial Oxidation, Water Electrolysis, Steam Reforming, Gasification and Others); By Application (Transportation, Methanol Production, Petroleum Refinery, Ammonia Production, and Power Generation); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030

The post Research Report on Hydrogen Manufacturing and Hydrogen Refueling Station Industry in China, 2016-2030 first appeared on CRI Report.

Cashew nut is one of the important nut species in the global market. Since 2017, Vietnam has become the world’s top cashew nut processing center and largest exporter of cashew nuts, accounting for more than 50% of the global processed cashew nut raw materials. According to CRI’s analysis, Vietnam is characterized by the tropical monsoon climate, thus having natural advantages in cashew cultivation.

The total area planted with cashew nuts in Vietnam in 2020 was 302,500 ha, an increase of 5,300 ha from 2018-2019 crop year. In 2020, Vietnam’s total cashew nut production was 339,800 tons, an increase of 53,500 tons YOY, with an average yield of 1,123 kg per hectare, an increase of 180 kg YOY.

Vietnam exported a total of 521,419 tons of cashew nuts in 2020, up 13.48% YOY. Among them, exports to the United States rose 9.7% to 148,125 metric tons; 62,302 metric tons to China, down 7.3% from 2019; and exports to Europe and other countries rose 20.9% to 310,992 metric tons.

According to CRI’s analysis, with the entry into force of various FTAs such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP), and the gradual control of the COVID-19 epidemic, Vietnam’s cashew nut exports will continue to rise. The market size will reach USD4 billion.

According to CRI’s analysis, there are still some shortcomings in Vietnam’s cashew nut industry. For example, the cultivation of cashew nuts in Vietnam is still dominated by small-scale farmers, and has not yet formed large-scale production. And Vietnam is relatively backward in the cultivation technology, which to a certain extent limits the development of the cashew nut industry.

According to CRI’s analysis, in the global cashew nut value chain, Vietnam exports cashew nuts at about USD10 per kilogram or less, while cashew nut products are sold at up to USD20-30 per kilogram in the end market. Vietnam needs to increase the added value of cashew products and take advantage of modern processing technologies.

CRI expects that Vietnam’s cashew production and exports will continue to rise in 2022-2030, and for investors, there are many investment opportunities in Vietnam’s cashew industry, from cultivation to processing and trading.

Topics covered:

• Overview of Vietnam’s Cashew Industry
• Economic and Policy Environment of Vietnam’s Cashew Nut Industry
• What is the Impact of COVID-19 on Vietnam’s Cashew Nut Industry?
• Vietnam Cashew Nut Market Size, 2016-2021
• Forecast on Vietnam Cashew Nut Market, 2022-2030
• Analysis of Major Cashew Nut Companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam’s Cashew Nut Industry
• What are the key drivers, challenges, and opportunities for the cashew nut industry in Vietnam during 2022-2030?
• What is the expected revenue of Vietnam cashew nuts market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s cashew nuts market is expected to dominate the market in 2030?
• What are the major adverse factors facing the cashew nuts industry in Vietnam?

Related reports:

US and Europe Nuts and Seeds Cheese Market Research Report—Forecast till 2026

Research Report on Hazelnut Imports in China 2020-2024

The post Research Report on Vietnam’s Cashew Nut Market, 2016-2030 first appeared on CRI Report.

Agriculture plays an important role in Vietnam’s economy, with the agricultural population accounting for over 50% of the total population, and arable and forest land accounting for 60% of the country’s total land area.

According to CRI’s analysis, Vietnam features a low concentration in the fertilizer market, with local companies accounting for about 70% of the market share. Based on the overall revenue of Vietnam’s fertilizer market in 2020, the top five companies accounted for about 28% of the market. Major fertilizer producers in the Vietnam market are adopting various strategies such as expansion and partnerships to increase their market share.

According to CRI’s analysis, in recent years, Vietnam’s fertilizer exports have exceeded 1 million tons per year, while fertilizer imports have also exceeded 1 million tons.

The main varieties of fertilizers exported from Vietnam are ammonium sulfate, phosphate diamine, NPK, etc. The Philippines, Malaysia, Thailand, Laos, South Korea, etc. are the main export markets of Vietnam’s fertilizers.

At the same time, every year Vietnam imports more than 1 million tons of fertilizers, among which, ammonium sulfate is the most imported. Currently, China is the largest supplier of fertilizers to Vietnam, accounting for nearly 50% of the country’s imports.

According to CRI’s analysis, despite the impact of COVID-19 on Vietnam’s economy, Vietnam’s fertilizer industry still showed growth in 2020.

Despite supply chain and logistics disruptions, Vietnam’s fertilizer exports and imports are still on the rise. In particular, fertilizer imports reached 3.64 million tons, up 7.2% YOY. Vietnam’s fertilizer exports also rose 38% in 2020 compared to 2019.

Although the demand for fertilizers in Vietnam in 2020 was adversely affected by extreme weather conditions, in general, the business situation was good, with the leading companies showing significant growth in business performance. The most popular distribution channels in the country include distributor system, regional company system and authoritative purchasing.

Fertilizer’s price in Vietnam’s market showed a fluctuating trend in 2020, increasing in the second half of the year.

From January to October 2021, Vietnam’s fertilizer exports volume were about 1.065 million tons with an export value of about 380 million USD.

According to CRI, the positive outlook for agriculture is the factor driving the growth of fertilizer consumption in the country in 2022. The good weather and high prices of agricultural products in Vietnam in 2022 will provide good conditions for farmers to increase planting for higher productivity, which will increase the demand for fertilizer.

Topics covered:

• Overview of Vietnam’s Fertilizer Industry
• Economic and Policy Environment of Fertilizer in Vietnam
• What is the impact of COVID-19 on Vietnam’s fertilizer industry?
• Vietnam’s Fertilizer Market Size, 2016-2021
• Forecast on Vietnam’s Fertilizer Market, 2022-2030
• Analysis of Major Fertilizer Producers in Vietnam
• Key Drivers and Market Opportunities for Vietnam’s fertilizer industry
• What are the key drivers, challenges, and opportunities for the Vietnam fertilizer industry during 2022-2030?
• What is the expected revenue of Vietnam’s fertilizer market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s fertilizer market is expected to dominate the market in 2030?
• What are the major adverse factors facing the fertilizer industry in Vietnam?

Related report:

Specialty Fertilizers Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

Europe Organic Fertilizer Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

Global Bio-Fertilizers Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

The post Research Report on Vietnam’s Fertilizer Market, 2021-2030 first appeared on CRI Report.

As of the end of 2020, Vietnam has accumulated more than 16GW of photovoltaic installed capacity, ranking third in the world’s newly installed capacity in 2020, second only to China and the United States. Among them, the new rooftop photovoltaic installations in 2020 exceeded 9GW, involving about 100,000 households, and the onshore and offshore photovoltaic installations exceeded 1GW.

Vietnam became the world’s third largest photovoltaic market in 2020.

It is estimated that by 2025, Vietnam’s national electricity demand will reach 90,000 megawatts. It is estimated that from 2022 to 2030, Vietnam’s GDP will grow at an annual rate of 6.5%-7.5%, the annual growth rate of electricity demand will reach 7%, and the demand will reach 130,000 megawatts by 2030. According to CRI’s analysis, Vietnam is a very attractive market for foreign investors.

Vietnam is one of the Southeast Asian countries with the richest solar energy, with 2000-2500 hours of sunshine per year and 5kWh per square meter per day. In the ASEAN, according to the projects being developed and reserved by photovoltaic developers, Vietnam is the market with the most completed projects and reserved projects.

Scatec Solar and EVN (Electricity of Vietnam) each have a project plan of more than 500MW. Trungnam Group and Xuan Thien Group each completed photovoltaic power plants of more than 1GW.

In February 2021, Vietnam announced Vietnam’s eighth power plan draft (PDP VIII), which raised the renewable energy development target by nearly 70% to 45 GW by 2030, including 20 GW for photovoltaics.

Vietnam’s photovoltaic industry also has photovoltaic curtailment risks. Vietnam is a long and narrow land with uneven distribution of sunlight resources. Under the condition of a unified FIT electricity price across the country, photovoltaic projects are concentrated in southern Vietnam. In addition, the power grid in Vietnam is weak, and the photovoltaic projects are at risk of power curtailment.

According to CRI’s analysis, although Vietnam has become one of the fastest-growing markets for electricity in renewable energy in Asia, the lagging development of its power system and the surge in installed renewable energy power capacity pose a huge challenge to the stability of the power grid in Vietnam.

In Vietnam, photovoltaic power generation has accounted for a quarter of the total power generation of the power system. This explosive growth has affected the stability of Vietnam’s power distribution system.

According to CRI’s analysis, in 2020, Vietnam imported 14.6GW of photovoltaic modules. In November, the monthly import volume reached to the peak of 3.9GW. Currently, Vietnam’s photovoltaic module market is mainly occupied by foreign-funded enterprises.

Among them, Chinese companies Jinko, JA Solar, LONGI, Trina, and a Canadian company, Canadian Solar Inc. rank among the top 5 in the total imported photovoltaic modules in Vietnam.

In 2020, in Vietnam’s PV module shipments, monocrystalline PV modules accounted for 89%, 72-cell solar panel accounted for 63%, and the mainstream power of module was 440-450W. The demand for photovoltaic modules in Vietnam is also transforming to monocrystalline and large silicon wafers.

From January to July 2021, the total amount of components imported by Vietnam from China was less than 1,000 MW, which is less than a quarter of the volume in November 2020. This is due to the large number of rooftop photovoltaic installations in Vietnam in 2020, which was stimulated by the national subsidy policy.

In April 2021, Vietnam reduced the amount of subsidies, causing the import volume of photovoltaic modules in Vietnam to plummet. Compared with the continued decline in module shipments, China’s exports of solar cells and silicon wafers to Vietnam in July 2021 rebounded, reaching USD19 million and USD80 million respectively, an increase of 53% and 182% compared with June.

On the whole, Vietnam’s short-term demand for imported photovoltaic modules has decreased, but the demand for solar cells and silicon wafers is stable.

Local companies in Vietnam’s photovoltaic industry are also expanding rapidly. SolarBK is the leading manufacturer of solar panels in Vietnam. For example, at the end of 2017, IREX, a member of SolarBK, completed the first phase of a solar panel and solar cell factory with a capacity of 500MW in the southern Ba Ria-Vung Tau Province.

IREX’s factory was established in 2012 and has a modern production line that can produce photovoltaic cells of 300MW per year. IREX said that 40% of locally manufactured photovoltaic modules have been exported to the European and North American markets since 2018.

According to CRI’s forecast, as one of the hottest photovoltaic markets in Southeast Asia, Vietnam has the natural advantage of developing photovoltaic energy, and with the economic development, the demand for electricity in Vietnam is growing at a high pace. Therefore, the market will attract a lot of investment during 2022-2030.

Topics covered:

• Overview of Vietnam’s photovoltaic industry
• Economic and policy environment of Vietnam’s photovoltaic market
• What is the impact of COVID-19 on the photovoltaic industry in Vietnam?
• Vietnam’s photovoltaic market size, 2016-2021
• Analysis of major photovoltaic companies in Vietnam’s market
• Main driving forces and market opportunities of Vietnam’s photovoltaic industry
• What are the main driving forces, challenges and opportunities of the photovoltaic industry in Vietnam during the forecast period of 2022-2030?
• Which companies are the main players in Vietnam’s photovoltaic market, and what are their competitive advantages?
• What is the expected revenue of Vietnam’s photovoltaic market during the forecast period from 2022-2030?
• What are the strategies adopted by the major players in the market to increase their market share?
• Which part of the Vietnam’s photovoltaic market is expected to dominate the market in 2030?
• What are the main adverse factors faced by Vietnam’s photovoltaic industry?

Related reports:

Research Report on Photovoltaic Industry in China, 2016-2020

Research Report on China’s Photovoltaic Industry, 2018-2022

Global Concentrated Photovoltaic (CPV) Market Research Report – Forecast To 2023

The post Research Report on Vietnam’s Photovoltaic Market, 2016-2030 first appeared on CRI Report.

Vietnam is rich in rice, tropical crops and aquatic products and is a major exporter of agricultural products in Southeast Asia, and the third largest exporter of rice in the world.

According to CRI’s analysis, Vietnam’s rice export value reached USD3.07 billion in 2020, and rice has become a bright spot in Vietnam’s agricultural products exports. This is a remarkable achievement of the rice industry for many years, especially in the context of natural disasters and COVID-19 epidemic that hit Vietnam’s agriculture in 2020 in terms of production and export.

In 2020, Vietnam’s total rice production was 42.7 million tons, meeting the demand for domestic consumption, processing, poultry and livestock feed, and export, etc. In 2020, its rice exports grew against the backdrop of a decline in exports of many of Vietnam’s long-dominant agricultural products due to the COVID-19 epidemic.

Notably, the bright spot of the country’s rice exports was not in terms of production, but in terms of price. According to CRI’s analysis, in 2020, the average price of Vietnam’s rice exports increased by 13%, compared to the same period in 2019, reaching USD496 per ton.

In early December 2020, the price of Vietnam’s rice with 5% crushing was USD493 to USD497 per ton, which is USD20 higher than that of Thai’s rice and USD120 higher than that of Indian rice. This is the highest price in the history of Vietnam’s rice exports, indicating that the brand value of Vietnam’s rice has increased significantly.

Since the EU-Vietnam Free Trade Agreement (EVFTA) came into force on August 1, 2020, the rice exports have rapidly seen an upturn. According to EVFTA, the EU provides Vietnam with 80,000 tons of rice for export at 0% tax rate annually (including 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of aromatic rice).

For rice from Vietnam, the EU will reduce the import duty rate to zero in the coming years. Taking advantage of the above, from September 2020, Vietnam started to sell rice to the EU at a much higher price than before. Specifically, before EVFTA came into effect, the prices of ST20 rice and Jasmine rice exported to the EU were USD800 and USD520 per ton, respectively, while now the prices are over USD1,000 and USD600, respectively.

According to CRI’s analysis, there are three reasons for the rise in Vietnam’s rice prices. Firstly, the government issued an agricultural restructuring proposal, by which the rice structure has been strongly adjusted, changing the rice cultivation protocols, i.e., paying more attention to improving rice quality rather than increasing production.

Around 2015, Vietnam’s quality rice seeds accounted for only 35%-40% of the total seeds, while in 2020 the Chart reached 75%-80%, and even in some places, the usage rate of quality rice seeds is as high as 90%.

Secondly, Vietnam has signed many FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Europe-Vietnam Free Trade Agreement (EVFTA) with many countries, which creates conditions for a breakthrough in Vietnam’s rice exports. Third, many industries were affected by the COVID-19 epidemic in 2020, but the market demand for food has not decreased.

According to CRI’s analysis, the Jiulong River Plain is the center of rice cultivation in Vietnam, contributing 50% of rice production and 95% of rice exports to Vietnam’s agriculture.

In 2020, the Jiulong River Plain cultivated more than 1.5 million hectares of rice per season, with an average yield of 6 tons per hectare and an annual rice production of more than 24 million tons. Furthermore, its winter-spring rice production is expected to reach 10 million tons from 2020 to 2021.

CRI expects Vietnam’s rice exports to continue to rise in both volume and value in 2022-2030.

Topics covered:

• Overview of Vietnam’s Rice Industry
• Economic and Policy Environment of Vietnam’s Rice Industry
• What is the Impact of COVID-19 on Vietnam’s Rice Industry?
• Imports volumes and values of Vietnam’s Rice, 2016-2021
• Forecast on Imports volumes and values of Vietnam’s Rice, 2022-2030
• Analysis of Major Rice Companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam’s Rice Industry
• What are the key drivers, challenges, and opportunities for the rice industry in Vietnam during 2022-2030?
• What is the expected revenue of Vietnam rice market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s rice market is expected to dominate the market in 2030?
• What are the major adverse factors facing the rice industry in Vietnam?

Related reports:

US Packaged Dry Rice Market (2019 – 2024)

Research Report on Paddy and Rice Import in China, 2019-2023

Vietnam Textile and Garment Industry Report 2021-2025

The post Research Report on Vietnam’s Rice Industry 2016-2030 first appeared on CRI Report.

Wind power generation refers to the use of wind turbines to directly convert wind energy into electricity. Among the various forms of wind energy utilization, wind power generation is the main form. Among renewable energies, it is also one of the most technically mature way with large-scale development conditions and commercial prospects.

According to CRI’s analysis, the total amount of wind energy in the world is about 130 billion kilowatts, of which 20 billion kilowatts are available. Currently, global wind power industry is mainly distributed in the United States, Europe, China and other regions, increasing from 31.9GW in 2013 to 93GW in 2020, a CAGR of 16.5% during 2013-2020.

The continued increase in newly installed wind power capacity in China has made China the largest region in the world in terms of cumulative installed wind power capacity, surpassing the EU. 2020 is a record year for the global wind power industry, with 93GW of new installations worldwide, up 53% YOY.

In 2020, China’s newly added wind power capacity reached 52GW, double the amount of new wind power capacity installed in 2019. China has become one of the world’s largest wind power markets, with record growth in installed wind power in 2020, and its onshore wind power was responsible for 56.3% of the total new installations worldwide.

In the emerging offshore wind sector in recent years, the total cumulative global offshore wind power installed in 2020 was 35 GW, with 6.1 GW of new installations, down slightly from 6.24 GW in 2019.

China achieved more than 3 GW of new grid-connected offshore wind power in 2020, becoming the world’s largest offshore wind market for the third consecutive year. The European market maintained steady growth, with the Netherlands ranking second globally with nearly 1.5 GW of new installations and Belgium in third place (706 MW).

It is expected that with the existing wind power policy, 235 GW of new offshore wind power will be installed worldwide in the next decade, an increase equivalent to seven times the existing offshore wind power installation.

According to CRI’s analysis, China’s wind power market is somewhat different from the global market. 20,401 new units was installed in China in 2020, with a capacity of 54.43 million kW, an increase of 105.1% YOY. Such a prosperous market, however, has barely developed relationships with overseas companies.

The world’s highest-ranked company, Vestas, accounts for only 2.1% of installed capacity in China’s wind turbine market, ranking 11th in terms of new installed capacity for China’s wind turbine manufacturers in 2020.

Accordingly, overseas markets are not open to Chinese companies. In 2020, China exported a total of 1188 MW of wind turbine capacity, accounting for only 2-3% of the total global installed capacity outside of China. At the same time, China’s wind power machine industry is highly concentrated.

The leading enterprises are more advanced in capital, technology accumulation,

and industry chain integrity, with obvious advantages in the market competition, so they hold a stable leading position.

Xinjiang Goldwind Science & Technology Co., Ltd., Envision Energy and Ming Yang Smart Energy Group Limited, three wind turbine manufacturers, have been holding the top three positions in the industry since 2016. During 2016 to 2020, according to the size of the Chinese market, CR5 increased from 60% to 70%, CR10 from 84% to 90%.

In terms of cost, wind power costs are lower than PV costs. Globally, among offshore wind, onshore wind, and PV, onshore wind has the lowest LCOE of 0.25 RMB/KWh.

According to the global LCOE data published by the International Renewable Energy Agency (IRENA), offshore wind, onshore wind, and PV had decreased by 48%, 56%, and 85% respectively, during 2010 to 2020. By 2020, the LCOE for offshore wind, onshore wind, and PV was about RMB 0.54/KWh, RMB 0.25/KWh, and RMB 0.37/KWh respectively.

Compared to the decline in PV, onshore wind power still has more room for improvement. China’s average LCOE for onshore wind is among the highest in the world, at 0.24 RMB (about 3.7 cents)/KWh in 2020.

According to the plan of China’s National Energy Administration, China’s total installed wind PV capacity will reach more than 1.2 billion kW (about 1200 GW) by the end of 2030. It means that during 2022-2030, China will need to add at least about 300 million kW of wind power, with an average annual installed capacity of at least 30 GW.

For wind power, with little policy change, the industry will continue to grow at least by 2030. And the global wind power industry is expected to continue to have strong growth momentum by 2050.

Topics covered:

• Overview of the wind power industry
• Economic and policy environment of wind power
• What is the impact of COVID-19 on the wind power industry?
• Global and China’s Wind Power Market Size, 2016-2021
• Forecast on Global and China’s Wind Power Market, 2022-2030
• Analysis of the development status of offshore wind power
• Analysis of major wind power companies
• Key drivers and market opportunities in the wind power industry
• What are the key drivers, challenges and opportunities for the wind power industry during the forecast period 2022-2030?
• What is the expected revenue of the wind power market during the forecast period of 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the wind power market is expected to dominate the market in 2030?
• What are the major adverse factors facing the wind power industry?

Related reports:

Global Small Wind Power Market Research Report – Forecast to 2023

Offshore Wind Turbines Market : Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030

Global Renewable Energy Market: By Type (Hydroelectric energy, Geothermal energy, Wind energy, Solar energy and Biomass energy); By End-user (Commercial, Residential and Industrial); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

The post Global and China’s Wind Power Industry Research Report 2016-2030 first appeared on CRI Report.

Southeast Asian countries in the report include Singapore, Thailand, the Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. By the end of 2021, the population in Southeast Asia had exceeded 600 million. The overall economic growth rate is higher than global average level and it becomes a major driving force of world economic development.

According to CRI’s research, significant gaps in economic development remain among the 10 countries in Southeast Asia. Singapore is the only developed country, which had the GDP per capita of approximately USD 60,000 in 2020, while the GDP per capita was less than USD 2,000 in Myanmar, Laos and Cambodia. The population and minimum wage vary greatly among Southeast Asian countries.

Brunei is the least populated country with less than 500,000 people, while Indonesia is the most-populous country with a population of over 270 million in 2016. Singapore, the most developed country in Southeast Asian region, does not set the legal minimum wage. The actual minimum wage is over 400 USD per month (foreign maidservant). In comparison, the minimum wage in Myanmar is only 60 USD per month.

The development of the automobile industry differs greatly among the Southeast Asian countries. According to the analysis of CRI, Thailand is the most developed country in terms of automobile manufacturing. Some world’s leading automobile manufacturers, such as Ford, Honda, Toyota and BMW have built factories in Thailand. In 2020, the production volume of automobiles was 1.4 million.

The export volume of automobiles in Thailand was about 740 thousand units. There are a lot of whole vehicle manufacturers in the Philippines, Malaysia, Vietnam and Indonesia. Myanmar has a small-scale automobile assembly industry.

Singapore, Brunei, Laos and Cambodia do not have the automobile manufacturing industry. Generally speaking, automobile markets in most Southeast Asian countries are highly dependent on import. The imported products include whole vehicles and auto parts.

In general, the sales volume of automobiles in Southeast Asia presents an upward trend in recent years. Especially, the constant economic development in the Philippines and Vietnam stimulates the sales growth of automobiles.

Due to the outbreak of COVID-19, many auto parts or complete vehicle factories in Southeast Asian countries had to reduce or stop production, making the global supply chain suffer a new blow. It is expected that in 2022, COVID-19 is expected to be effectively controlled, and the Southeast Asian auto manufacturing industry will show restored growth.

According to CRI’s forecast, the Southeast Asian automobile industry will grow rapidly in 2022-2030. On the one hand, the lower labor costs in Southeast Asian countries will prompt global automobile vehicle and component manufacturers to transfer production capacity to these regions.

On the other hand, the rising demand of Southeast Asian automobile market will prompt global automobile vehicle and parts manufacturers to increase exports to these countries.

Topics Covered:

• Southeast Asia’s Automobile Industry Overview
• Economic and Policy Environment of Southeast Asia’s Automobile
• What is the impact of COVID-19 on the Southeast Asia’s automobile industry?
• Southeast Asia’s Automobile Market Size, 2016-2021
• Analysis of Major Automobile Companies in Southeast Asia
• Key Drivers and Market Opportunities in Southeast Asia’s Automobile Industry
• What are the key drivers, challenges, and opportunities for the Southeast Asia’s automobile industry during the forecast period 2022-2030?
• Which are the key players in the Southeast Asia’s Automobile market and what are their competitive advantages?
• What is the expected revenue of the Southeast Asia’s automobile market during the forecast period of 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Southeast Asia’s automobile market is expected to dominate the market in 2030?
• What are the major adverse factors facing the Southeast Asia’s automobile industry?

Related Reports:

Global Automotive Repair and Maintenance Services Market By Vehicle Type (Bikes & Scooters, Passenger Cars, Commercial Vehicles); By Service Providers (Automobile Dealerships, Franchise General Repairs, Locally Owned Repair Shops/Body Shops, Specialty Shops, Tire Shops); and Region – Analysis of Market Size, Share &Trends for 2016-2019 and Forecasts to 2030

Research Report on Vietnam Automobile Industry 2021-2025

Report on Automobile Radiator Industry in China, 2021-2025

The post Research Report on Automobile Industry in Southeast Asia, 2016-2030 first appeared on CRI Report.