2022/12/1 – CRI Report

Private Education Market in India 2021

admin — Mon, 17 Jan 2022 07:27:48 +0000

The demand for educational institutions has picked up, owing to the rise in population. Parents prefer private schools to government ones due to the limited number of English medium government schools. Students of private educational institutions have better exposure to smartphones, electricity, and internet facilities for to avail online classes during the pandemic.

Market insights:
In the wake of the pandemic, universities and colleges embraced a hybrid learning model where private institutions have outperformed government ones. Advanced infrastructure and English-medium learning entice parents to admit their children to private educational institutions. The total number of private educational institutions in India was 3,73,621 in FY 2021. It is expected to reach 4,59,952 units by FY 2027, expanding at a compound annual growth rate (CAGR) of ~3.69 % during the FY 2022 – FY 2027 period.

Impact of COVID-19:
Teachers could not complete the syllabus, exams were postponed, and were cancelled in several cases due to the implementation of intermittent lockdowns. Private institutions completed the curriculum by offering online classes and making course materials available to students. Although schools have reopened in most parts of the country, classroom attendance remains low at around 30%. Although vaccination for 15 years to 18 years have started, most parents are afraid to send their children to school.

Market influencers:
Market drivers:
Private educational institutions are equipped with advanced facilities. Also, the advanced curriculum followed by private schools are beneficial for getting jobs. International collaborations have encouraged students to enroll in private colleges due to the exposure to exciting courses.

Key deterrents to the growth of the market:
Private institutions tend to focus on providing better infrastructure than quality education. Exorbitant fees in private educational institutions are a major cause of concern for several parents, resulting in a low enrolment rate for higher education.

The post Private Education Market in India 2021 first appeared on CRI Report.

Renewable Energy Market in India 2021

admin — Mon, 17 Jan 2022 07:27:48 +0000

Rapid urbanization has fueled power requirements for the smooth functioning of modern lifestyle. There is a spurt in the demand for renewable energy with the gradual exhaustion of conventional electricity generation methods such as thermal power. In India, solar and wind are the most popular renewable energy sources. The Ministry of New and Renewable Energy (MNRE) regulates the market. Some of the major producers are Adani Power Limited, The Tata Power Company Limited, ReNew Energy Global Plc, and JSW Energy Limited.

Market insights:
In 2021, investment in the renewable energy market picked up during the April – September period, reaching ~INR 1.00 Trn. The cumulative installed renewable energy capacity (excluding large hydro) stood at 92.54 GW by January 2021. It is expected to increase in the coming years, with a 13.15% growth rate between 2021 and 2026. The government has undertaken various schemes and programs to increase capacity and promote growth of renewable energy.

Segment insights:
The market is segmented into solar, wind, small hydro, and biopower. In FY 2020, India ranked fourth in the wind and renewable power and fifth in solar power installed capacity. Solar power capacity has increased by more than 15 times in the last seven years. The government widely promotes wind power projects around the country with the help of several private sector investments. The ministry is promoting efficient designs of water mills for mechanical utility and electricity generation and setting up micro hydel projects up to 100 KW for remote village electrification. About 32% of the primary energy is derived from biomass and a large number of the population is dependent on it.

COVID-19 impact analysis:
During the pandemic, the renewable energy sector was hit by multiple demand and supply shocks. However, the impact on the renewable power sector was relatively mild as the government announced a series of relief measures during the 2020 – 2021 period. The demand from commercial and industrial (C&I) consumers had declined by about 18% during the 2020 – 2021 period, while that of residential consumers increased by 5% – 7%. The overall drop in power demand led to a slowdown in the market’s growth. Hence the government introduced various policy measures including tenders, power project construction, and expansion plans to mitigate the impact of COVID-19.

The post Renewable Energy Market in India 2021 first appeared on CRI Report.

Flexible Packaging Market in India 2021

admin — Mon, 17 Jan 2022 07:27:47 +0000

Market insights:
In FY 2021, the flexible packaging market was valued at INR 615.27 Bn. It is expected to reach INR 1610.88 Bn by FY 2027, expanding at a CAGR of ~21.22% during the FY 2021 – FY 2027e period. The rigid packaging market held the largest share (~80%) in 2019; however, currently flexible packaging is the fastest-growing segment of the overall packaging industry. Increase in income of the middle-class population, rise in the standard of living, and growth of the e-commerce industry have propelled market development. — Food products account for 36% of packaging, followed by non-alcoholic beverages (18%), and alcoholic beverages (5%) in the packaged food segment. The spurt in demand for handy and small packs has also fueled market growth.

Segment insights:
Based on raw materials used, the flexible packaging market can be segmented into flexible plastic, paper, and foil packaging. The flexible plastic packaging segment accounts for the largest share. Plastic can be modified by co-polymerization and uses additives to match the exact commodity requirement, thereby making it the most suitable raw material. The most commonly used raw materials for plastic packaging are polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and polyvinyl chloride (PVC). PE finds application in diverse industries and accounts for the largest share of the flexible plastic packaging segment.

Impact of COVID-19:
The COVID-19 pandemic had a mixed impact on the market players, depending on the portfolios of different end-user industries. Key segments catering to essential services, such as fresh and processed food, hygiene and home care products, healthcare consumables, and e-commerce, witnessed a spike in demand for flexible packaging. The segments that serve non-essential services experienced a short-term contraction in demand. As a result, established players capitalized on this opportunity and strategically allocated their resources, and covered up for the losses incurred for the other end-user industries.

Competitive insights:
The flexible packaging industry is occupied by several unorganized players, which makes it highly fragmented. At present established players are extending their services to various end-user industries to enhance their presence in the market.

Related Reports: Flexible Packaging Market in India 2020

The post Flexible Packaging Market in India 2021 first appeared on CRI Report.

Online Education Market in India 2021

admin — Mon, 17 Jan 2022 07:27:47 +0000

In the wake of the pandemic, more than 500 million students have been impacted because of intermittent closure of schools and universities. Technological innovations have disrupted traditional education system. Online learning platforms have grown rapidly across educational segments – primary, secondary, higher education, test preparation, and casual learning. The online education market is highly fragmented. There are a few niche players that operate in the various segments, and start-ups with innovative offerings are gradually gaining ground.

Market insights:
Over the last decade, technological advancements have enhanced online education. These include the application of information and communications technology (ICT) in classrooms and the use of cloud-based platforms, virtual reality (VR), and augmented reality (AR). In 2020, the online education market was valued at INR 91.41 Bn. It is expected to reach INR 325.48 Bn by 2026, expanding at a compound annual growth rate (CAGR) of ~17.19% during the 2021 – 2026 period.

Impact of COVID-19:
Physical classes were suspended for more than a year following the onslaught of COVID-19. Schools, colleges, and educational institutions adopted online classes due to the implementation of nationwide lockdown and fear of COVID-19. Universities and colleges are transitioning to a blended learning model, providing both, face-to-face and online education. Modern methods of delivering and assessing learning objectives are being incorporated into the educational system, creating the scope for significant educational research and epistemology change.

Government initiatives:
The government played a key role to ensure the successful operation of online classes . Some of the major initiatives undertaken by the government are National Digital Educational Architecture (NDEAR), PM eVIDYA Program, National Initiative for School Heads and Teachers’ Holistic Advancement (NISHTHA), and ‘ShaGun’ Portal.

Market influencers:
Market drivers:
Over the years, the availability of low-cost smartphones has led to an increase in the demand for internet services. This has spurred the demand for online content, including education material, in both rural and urban areas. There has been an increasing demand for industry-relevant training courses. People are considering online learning as a low cost substitute for traditional learning.

Key deterrents to the growth of the market:
Indians are familiar and comfortable with the conventional face-to-face mode of learning, which impedes the adoption of online learning. Online channels fall short when it comes to replicating certain aspects of offline channels, such as interaction with peers, group learning, feedback, and soft skill development. There is lack of formal recognition along with inadequate digital infrastructure throughout the country.

Companies covered:
• NIIT Limited
• Edukart Education Private Limited
• Individual Learning Private Limited
• Sorting Hat Technologies Private Limited
• Think and Learn Private Limited
• UpGrad Education Private Limited
• Vedantu Innovations Private Limited
• Coursera Inc.
• Simplilearn Solutions Private Limited
• Udemy India LLP

Related Reports: Online Education Market in India 2020

The post Online Education Market in India 2021 first appeared on CRI Report.

Pharmaceutical Export Market in India 2021

admin — Mon, 17 Jan 2022 07:27:47 +0000

Market insights:
The pharmaceutical industry has witnessed rapid growth in the past few decades and is expected to develop further, owing to huge export possibilities. The business caters to 50% of the global demand of various vaccines, 40% of generic medicines demand in the US, and 25% of all medication in the UK. Pharmaceutical exports rose by 24.48% between FY 2020 and FY 2021 to reach INR 1,437.38 Bn in FY 2021. This was despite the global industry reduced by almost 2% in 2020 on account of COVID-19. As of 2021, nearly all medicines made domestically were low-cost generic drugs that comprise most of pharmaceutical export of the country.

Impact of COVID-19:
The onslaught of COVID-19 and the nationwide lockdown severely impacted the healthcare and pharmaceutical infrastructure, and the country’s economy. Travel restrictions, shortage of workforce, disruption in world trade, and bottleneck in logistics impacted the supply chain of pharmaceutical products. During the second wave, key market players took major steps as per regulatory guidelines with smart solutions to tackle the supply-demand gap. As of 2021, India shipped over INR 1,349 Bn worth drugs to over 200 nations, ranging from the highly regulated markets in North America and Europe to countries with small pharmaceutical markets.

Competitive insights:
Major players such as Sun Pharmaceuticals Industries Limited, Aurobindo Pharma Limited, Lupin Limited, and Dr. Reddy’s Laboratories Limited have made huge strides in their net revenue. This is because of government initiatives that propelled export possibilities.

The post Pharmaceutical Export Market in India 2021 first appeared on CRI Report.

Refrigerator Market in India 2021

admin — Mon, 17 Jan 2022 07:27:46 +0000

Market insights:

The consumer goods market in India is one of the largest in the world. According to a World Economic Forum report published in 2019, it is expected to become the third-largest consumer market by 2025, after the US and China. The demand for refrigerator is likely to pick up in the coming years, especially in rural areas, as the government plans to invest heavily in rural electrification

Increase in disposable income and easy financing schemes have boosted the sale of refrigerators, propelling market growth. Rapid urbanization and changes in lifestyle have influenced consumers to buy smart refrigerators. A majority of the sale is generated through the urban cohort. Production of refrigerators for domestic use increased from 23 lakh in Q3 FY 2020 to 28.1 lakh in Q3 FY 2021, with a 22% year-on-year growth.

Market influencers:
Technology has advanced so much in recent years that customers can now use refrigerators even during power cuts. They can check what is inside the fridge without opening the door, convert the freezer into a refrigerator unit, control temperature, and change modes. This has made consumers interested in refrigerators
The government has imposed some rules on manufacturing companies for energy consumption labels (star labeling) and use of Hydrofluorocarbon (HFC) refrigerants instead of Hydro-chloro-fluoro Carbon (HCFC).

Impact of COVID-19:
Manufacturing industries faced a shortage of raw materials and components required to produce refrigerators, during the initial phase of the lockdown. This was because of the restrictions imposed on exports from China. Laborers migrating to their hometowns during the lockdown disrupted the supply chain. Therefore, the lack of manpower impacted the transportation of consumer goods.
Despite, a serious economic plunge, the domestic refrigerator Market has adopted new strategies and development skills to recover.

Competitive insights:
The presence of several players across the globe makes the market fragmented. Manufacturers are focused on developing energy-efficient products and engaged in promotional activities to attract consumers and gain a strong foothold. Although, company are focusing on developing spacious and customizable interior and usage of LED bulbs for brighter lighting which can save energy.

The post Refrigerator Market in India 2021 first appeared on CRI Report.

Cold Chain Market in India 2021

admin — Mon, 17 Jan 2022 07:27:46 +0000

Cold chains provide storage and distribution services for temperature-sensitive products. Depending on the nature and purpose of storage applications, cold chains have been categorized as frozen (< -18℃), chilled (ranging between 0℃ and 10℃), mild chilled (ranging from 10℃ to 20℃), and normal (>20℃) storage.

Market insights:
The cold chain market in India was valued at INR 1.54 Trn in 2020 and is expected to reach INR 4.09 Trn by 2026, expanding at a compound annual growth rate (CAGR) of ~17.80% during the 2021 – 2026 period. Increasing demand for cold storage facilities from the food, healthcare, and retail sectors, and the evolving lifestyle of consumers, mainly in terms of food habits and awareness about wellness, are the significant factors fueling the growth of the cold chain market in India. Also, several initiatives undertaken by the Indian government have helped to develop and improve cold chain systems in India and provide an impetus to the market. In 2020, the Indian government approved 27 integrated cold chain development projects under the Pradhan Mantri Kisan SAMPADA Yojana. However, the high operating costs of cold chains and lack of standardization are some of the factors hindering market growth.

Segment insights:
Based on market component, India’s cold chain market is segmented into cold chain storage and cold chain logistics. As of 2020, the cold chain storage segment accounted for 44.50% of the total market share. By the end of 2025, the cold chain storage segment is expected to hold a share of around 44.79% of the overall market. Owing to the constant rise in demand from the retail and healthcare industries for temperature-controlled storage and transportation, the market shares of both segments are expected to change marginally during the forecast period. Snowman, Kool-ex, Coldstar, Gati Kausar, and DHL Logistics are some of the leading players in the market which operate and manage both cold chain storage and logistics operations.

Impact of COVID-19:
The onset of the pandemic has aided the growth of the cold chain market in India. Apprehensions regarding contracting COVID-19 and the increasing demand for healthcare products and perishable food items are influencing the cold chain market in India. The increasing requirement for storage and transportation of COVID-19 vaccines has further propelled the growth of the market. Fruits and vegetables, dairy products, and animal products are the other market segments likely to have a moderate impact on the cold chain market in India.

Related Reports: Cold Chain Market in India 2020

The post Cold Chain Market in India 2021 first appeared on CRI Report.

AI in Manufacturing Industry in India 2021

admin — Mon, 17 Jan 2022 07:27:45 +0000

Market insights:

With the introduction of industry 4.0 technology, India’s manufacturing industry is on the verge of a digital transformation. Several Indian manufacturing firms have invested in artificial intelligence (AI)-based industrial automation technologies to improve product quality and design, save labour costs, shorten manufacturing cycles, and track equipment health in real time. Blue Star Ltd., TVS Motor Company Ltd., JK Tyre & Industries Ltd., and Asian Paints Ltd. have all used AI to boost the efficiency and productivity of their production plants.

The contribution of AI in the Indian GVA was valued at INR 12,272.38 Bn in 2020 and is expected to reach INR 40,703.34 Bn by 2025, expanding at a CAGR of 4.83% during the forecast period (2021 – 2026). AI is being implemented for factory automations, quality monitoring, predicting equipment failure, order management, delivery management, and demand forecasting.

Market trends:
Indian manufacturing companies are utilizing AI-enabled predictive maintenance systems for self-monitoring and reporting malfunctions in real time. IBM has developed its cognitive computing platform, Watson, for manufacturers to reduce errors and improve product quality. Similarly, Qualitas Technologies has developed the Eagle Eye Inspection System, which uses an AI-based vision controller to check the quality of products.
Players in the Indian manufacturing sector have been keen on the use of collaborative robots that leverage AI and analytics. Collaborative robots are capable of handling additional cognitive tasks and making independent decisions based on real-time data. Blue Star Ltd. is using AI-enabled collaborative robots (offered by Universal Robots A/S) to optimize the task of copper tube expansion and to minimize stress risks associated with it.

Impact of COVID-19:
The unprecedented impact of the pandemic has changed the business landscape of the manufacturing sector. Frontier technologies such as AI have become the key to maintaining resilience against the effects of the pandemic. Manufacturing units that struggled with significant labor shortages during the lockdown adopted AI-based solutions to continue with production. Government initiatives such as the Atmanirbhar Bharat mission and Production Linked Incentive Scheme for White Goods (PLIWG) are expected to drive the adoption of AI in the manufacturing industry amid the pandemic.
Global players are aiming to divest in China and are considering India as the preferred destination to shift their manufacturing bases. Indian players can seize this opportunity and leverage AI to create a safe, inter-connected, intuitive, and interactive manufacturing environment.

The post AI in Manufacturing Industry in India 2021 first appeared on CRI Report.