The global rare disease genetic testing market was valued at $4.11 billion in 2022 and is anticipated to reach $16.69 billion by 2033, witnessing a CAGR of 13.69% during the forecast period 2023-2033. Cutting-edge technologies, such as whole-genome sequencing (WGS) and whole-exome sequencing (WES), involve the analysis of an individual’s complete genetic code (genome) or specific protein-coding regions (exome), respectively. These methods help identify genetic variations, mutations, or abnormalities responsible for rare diseases.

Market Introduction

Before the advent of NGS (which includes WGS and WES), physicians relied on the Sanger sequencing-based tests, which could detect rare diseases but were extremely time-consuming. Additionally, till all the tests were completed, physicians had to rely on a general diagnostic odyssey or general diagnosis until definitive results were available. This delayed the treatment process. As per BIS research, the global rare disease genetic testing market includes panels and tests that can be used for more rare disease genetic testing. These are predominantly polymerase chain reaction (PCR) and next-generation sequencing (NGS) based tests, panels, and assays. The most common rare disease genetic testing panels include gastroenterology, endocrine and metabolism, and neurology disease, among others.

Industrial Impact

The global rare disease genetic testing market has witnessed significant growth, attributed to the increasing demand for early detection of rare diseases. The increasing prevalence of rare diseases has played a critical role in market growth. Furthermore, growing recognition and emphasis on early detection and prevention of rare diseases in pediatric populations around the world are also expected to influence market growth.

Rare disease genetic testing has immense potential to deliver next-level healthcare solutions. For instance, in January 2023, BGI Genomics, in collaboration with the National Centre for Cardiovascular Diseases, Fuwai Hospital, and the State Key Laboratory of Cardiovascular Diseases, developed the “CardioGen automated interpretation system,” which serves as the genotype and phenotype database of monogenic cardiovascular disease. Other factors also impact the market growth, including increased patient demand and low turnaround time of these tests.

Market Segmentation:

Segmentation 1: by Disease Type
•    Gastroenterology Disease
•    Endocrine and Metabolism Disease
•    Cardiovascular Disease
•    Neurology Disease
•    Hematology and Oncology Disease
•    Dermatology Disease
•    Other Diseases

Endocrine and Metabolism Disease Segment to Dominate the Global Rare Disease Genetic Testing Market (by Disease Type)

Based on disease type, the rare disease genetic testing market is led by endocrine and metabolism, which held a 21.88% share in 2022. The burden of endocrine and metabolism diseases often has a high prevalence in the general population, making their diagnosis and management particularly challenging. Their diagnosis addresses genetic testing such as NGS. Further, it also includes biomarker analysis, newborn screening, and molecular diagnostic techniques.

Segmentation 2: Offering
•    Products
•    Services

Services Segment to Dominate the Global Rare Disease Genetic Testing Market (by Offering)

Based on offerings, the rare disease genetic testing market is led by services, which held an 81.58% share in 2022. Services are specifically tailored to meet the distinct requirements of individuals affected by rare diseases, healthcare professionals, and researchers engaged in this field. The availability of these services complements the use of diagnostic products and facilitates comprehensive and personalized rare disease genetic testing.

Segmentation 3: by Specialty Type
•    Molecular Genetic Tests
•    Chromosomal Genetic Tests
•    Biochemical Genetic Tests

Molecular Genetic Tests Occupying the Largest Share in the Market (by Specialty Type)

Based on specialty type, the rare disease genetic testing market is led by molecular genetic tests, which held a 58.89% share in 2022. The key reason for the increasing popularity of molecular genetic testing is that it provides crucial information for genetic counseling and family planning for individuals and families affected by rare diseases. By identifying specific genetic mutations, families can gain insights into the likelihood of disease inheritance and assess the risk of passing on the condition to future generations. This type of testing is utilized to identify genetic disorders in newborns, allowing for prompt intervention and treatment initiation.

Segmentation 4: by Sample Type
•    DNA Sample
•    Buccal Swab Sample
•    Blood Sample
•    Saliva Sample
•    Others

Blood Sample to Witness the Highest Growth Between 2023 and 2033

Based on sample type, the rare disease genetic testing market is led by blood samples, and it held a 33.99% share in 2022. Blood samples undergo processing to isolate different components, including white blood cells, serum, or plasma. These isolated components are then subjected to further analysis to detect genetic abnormalities, identify biochemical markers, or explore other diagnostic indicators. Genetic testing methods such as PCR, DNA sequencing, and microarrays can be employed on blood samples to identify specific genetic mutations that are associated with rare diseases.

Segmentation 5: by Trait Type
•    Inherited Trait
•    Acquired Trait

Inherited Trait to Witness the Highest Growth between 2023 and 2033

Based on trait type, the rare disease genetic testing market is led by inherited traits, which held an 82.59% share in 2022. Inherited traits are characteristics or conditions that are passed down from parents to their offspring through genetic material, i.e., DNA. These traits result from variations or mutations in the genes and can increase the risk of developing certain rare diseases.

Segmentation 6: by Technology
•    Sanger Sequencing
•    PCR
•    NGS
•    Microarrays
•    Others (Targeted Cytogenetics, Karyotyping, and FISH)

NGS to Dominate the Global Rare Disease Genetic Testing Market (by Technology)

Based on technology, the rare disease genetic testing market is led by next-generation sequencing (NGS), and it held a 43.80% share in 2022. NGS technology provides higher sensitivity and specificity in detecting genetic variants, including single-nucleotide variants (SNVs), insertions, deletions, and structural rearrangements. This technology also extends its applications to non-invasive prenatal testing, including the detection of fetal chromosomal abnormalities associated with certain rare genetic conditions.

Segmentation 7: by Age Group
•    Prenatal
•    Neonate and Infant
•    Children and Adolescent
•    Adult

Prenatal to Witness the Highest Growth between 2023 and 2033

Based on age group, the rare disease genetic testing market is led by the prenatal age group, which held a 39.68% share in 2022. Prenatal testing and diagnostics play a crucial role in identifying potential rare diseases and congenital abnormalities in the fetus. Prenatal testing methods such as chorionic villus sampling (CVS) and amniocentesis are employed to detect genetic disorders or developmental issues.

Segmentation 8: by End User
•    Hospital
•    Diagnostics Laboratories
•    Other End Users

Hospitals to Dominate the Global Rare Disease Genetic Testing Market (by End User)

Based on end users, the rare disease genetic testing market is led by hospitals, which recorded a 53.12% share in 2022. Hospitals are at the forefront of adopting syndromic testing panels into routine healthcare procedures. Hospitals, particularly in leading regions such as North America and Europe, and also to a certain extent in Asia-Pacific, have incorporated syndromic testing panels and assays to provide superior care to patients.

Segmentation 9: by Region
•    North America – U.S., Canada
•    Europe – Germany, U.K., France, Italy, Russia, Spain, and Rest-of-Europe
•    Asia-Pacific – Japan, India, China, South Korea, Australia, Singapore, and Rest-of-Asia-Pacific
•    Latin America – Brazil, Mexico, and Rest-of-Latin America
•    Rest-of-the-World

Regions such as North America and Europe have technologically advanced industries and allocate considerable budgets to research and development (R&D) activities. Moreover, a maximum number of rare disease testing is done there, due to which these regions hold the maximum share in the global rare disease genetic testing market.

Recent Developments in the Rare Disease Genetic Testing Market

•    In April 2023, Agilent Technologies, Inc. and Theragen Bio collaborated in South Korea to advance bioinformatic solutions for cancer genomic profiling.
•    In April 2023, 3 billion receives accreditation from the  California Department of Public Health (CDPH) as a clinical laboratory. With the CDPH accreditation, hospitals throughout California will now be able to utilize 3 billion’s genetic tests for diagnostic purposes and can claim insurance for the tests.
•    In February 2023, Akili Labs and BGI Genomics established the first commercial clinical sequencing facility in Africa.
•    In January 2023, Premier Research and CENTOGENE formed a strategic partnership to hasten and reduce the risk of clinical development for rare diseases.
•    In February 2023, Illumina delivers the first NovaSeq X Plus sequencer and workflow insights on Illumina Complete Long Reads unveiled at Advances in Genome Biology and Technology (AGBT).
•    In March 2023, Invitae Announces Partnership with Epic to Streamline Genetic Testing. Through Aura, Epic’s specialty diagnostics suite, Invitae will streamline interactions with provider organizations in the Epic community, making test result information available in providers’ usual workflows so that it’s easier to use genetic insights to inform treatment decisions.

Demand – Drivers, Challenges, and Opportunities

Market Demand Drivers:

Rapid Technological Advancements in Rare Disease Diagnosis: Technological advancements, such as next-generation sequencing (NGS), targeted gene panels, and artificial intelligence (AI)-based algorithms, have significantly improved diagnostic accuracy for rare diseases. NGS enables comprehensive genomic analysis, allowing for the identification of disease-causing genetic mutations with higher precision. By identifying the underlying genetic mechanisms and individualizing treatment plans, technological advancements are improving patient outcomes, patient satisfaction, and overall market growth. These advancements have also led to the emergence of new areas of rare disease genetic testing, which have opened up new avenues for research and drug discovery.

Rising Prevalence of Genetic Disorders and Congenital Disorders: The rising prevalence of genetic disorders and congenital disorders has a significant impact on the growth of the global rare disease genetic testing market. Increased demand for diagnostic services, expansion of screening programs, focus on personalized medicine, research and development initiatives, supportive regulatory environment, and patient advocacy all contribute to the expanding market. Furthermore, the rising prevalence led to an expansion of screening programs. Governments and healthcare organizations are implementing newborn screening programs and prenatal genetic testing initiatives to identify these disorders early.

Growing Recognition and Emphasis on Early Detection and Prevention of Rare Diseases in Paediatric Populations: Increased consumer demand for early detection and prevention, coupled with a focus on personalized medicine and precision healthcare, is expected to fuel the growth of the global rare disease market. Awareness and education, patient empowerment, expanded screening programs, preventive healthcare strategies, supportive policies, and insurance coverage are all contributing to the expansion of diagnostic services and driving market demand for rare disease genetic testing.

Market Challenges:

Lack of Consolidation of Information Leading to Difficulty in Diagnosis: The lack of consolidation of information and the resulting difficulty in diagnosis poses significant challenges for the global rare disease genetic testing market. Rare diseases often have limited available information, fragmented research findings, and scattered expertise. The vast number of rare diseases, each with its unique set of symptoms and genetic variations, makes it challenging to consolidate comprehensive knowledge and expertise in a centralized manner.

Significant Capital Requirement for Research and Development Hindering Global Expansion Efforts: The significant capital requirement for research and development (R&D) poses a notable challenge for the global rare disease genetic testing market. Research and development in the field of rare diseases often involve extensive genetic studies, clinical trials, and the development of innovative diagnostic tools and therapies. These activities require substantial financial investment, as they involve specialized expertise, laboratory infrastructure, regulatory compliance, and patient recruitment. The high costs associated with R&D act as a barrier, particularly for smaller companies and research institutions with limited resources, hindering their ability to undertake comprehensive research and development efforts. Rare diseases, by definition, affect a small patient population. Hence, the limited commercial market potential for treatments and diagnostics creates challenges in attracting sufficient private investment.

Market Opportunities:

Whole-Genome Sequencing Putting an End to the Rare Disease Diagnostic Odysseys: Whole-genome sequencing (WGS) has the potential to put an end to rare disease genetic testing odysseys and presents significant opportunities for the global rare disease genetic testing market. This technology enables a comprehensive analysis of an individual’s entire genome, providing a comprehensive view of the genetic variations and mutations. This approach allows for the detection of both common and rare genetic variants, including those associated with rare diseases.

AI-Based Diagnostic Tools Diagnosing Rare Diseases by Identifying Potential Diagnoses: AI-based diagnostic tools that utilize machine learning and artificial intelligence algorithms present significant opportunities for the global rare disease market by improving the diagnosis of rare diseases. Artificial intelligence (AI) and machine learning algorithms are revolutionizing rare disease genetic testing by analyzing large datasets, identifying patterns, and making accurate predictions. For instance, in July 2021, Sema4, the parent organization of GeneDx, successfully concluded a transaction with CM Life Sciences, marking its debut as a publicly traded company. The company now operates as an AI-driven genomics and clinical data platform company.

Transitioning toward Increased Genetics Coverage in Reimbursement Policies: Transitioning toward increased genetics coverage in reimbursement policies presents a valuable opportunity for the global rare disease genetic testing market. It improves access to genetic testing, encourages early diagnosis and intervention, supports research and development efforts, stimulates innovation, reduces financial burdens for patients, and aligns with the principles of personalized medicine. These factors collectively contribute to improved diagnostic rates and advancements in rare disease management.

How Can This Report Add Value to an Organization?

Product/Innovation Strategy: The global rare disease genetic testing market has been extensively segmented on the basis of various categories, such as disease type, specialty type, sample type, end-user, and region. This can help readers understand which segments account for the largest share and which are well-positioned to grow in the coming years.

Growth/Marketing Strategy: Partnerships, collaborations, product launches, and upgrades accounted for the maximum number of key developments, i.e., nearly 86.2% of the total developments in the global rare disease genetic testing market were between January 2021 and June 2023.

Competitive Strategy: The global rare disease genetic testing market has numerous established players paving their way into providing tests, panels, and assays in the market. Key players in the global rare disease genetic testing market analyzed and profiled in the study involve established players offering various disease-specific panels and multiplex instruments.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Key Companies Profiled:

•    23andMe Holding Co.
•    3billion, Inc.
•    Agilent Technologies, Inc.
•    Konica Minolta (Ambry Genetics, Inc.)
•    BGI Group
•    CENTOGENE N.V.
•    Eurofins Scientific SE
•    GeneDx, Holdings Corp.
•    Azenta U.S., Inc. (GENEWIZ, Inc.)
•    Illumina, Inc.
•    Invitae Corporation
•    Laboratory Corporation of America Holdings
•    Medgenome
•    Myriad Genetics, Inc.
•    OPKO Health, Inc.
•    PerkinElmer, Inc.
•    Exact Sciences Corporation (Prevention Genetics)
•    QIAGEN N.V.
•    Quest Diagnostics Incorporated
•    Strand Life Science Pvt Ltd.

The post Rare Disease Genetic Testing Market – A Global and Regional Analysis: Focus on Disease Type, Offering, Specialty Type, Sample Type, Trait Type, Technology, Age Group, End User, and Country Analysis – Analysis and Forecast, 2023-2033 first appeared on CRI Report.

Pickup trucks have had a significant impact on Thailand’s automotive industry and economy due to their sustainability, versatility, and low cost. in 2022, pickup trucks accounted for 45.7% of all vehicle sales in Thailand, with 388,296 pickup trucks sold. The Thai pickup truck market is dominated by two models – the Isuzu D-Max and the Toyota Hilux (banned in the US).

Together, these two models accounted for 83% of the market, with the Isuzu D-Max topping the list for the third consecutive year. With sales of 175,425 units in 2022, the D-Max model is the market leader with a 45.56% market share, while the Toyota Hilux is in second place with sales of 148,101 units in the same year and a 37.77% market share.

Many manufacturers (Ford, Isuzu, Mazda, Mitsubishi) have chosen to locate their global pickup truck manufacturing base in Thailand, building pickup trucks that are typically exported to Europe, Japan, and much of the rest of the world. These one-ton trucks are not exported to North America, where larger trucks are preferred.Thailand surpassed the U.S. as the world’s largest manufacturer of one-ton pickup trucks in 2005, and Thailand’s automotive industry is already a global hub for one-ton pickup truck exports. Thailand’s exports of one-ton pickup trucks account for about 40 percent of its total production.

Daihatsu Hijet, Toyota Pixis Van and Suzuki Every will collaborate on the launch of a new electric vehicle in the form of a minivan, a zero-emission commercial van based on the DNGA platform with a 660cc gasoline engine. Expected to debut as a concept vehicle at a special event during the Japan Automobile Manufacturers Association’s 2023 G7 Hiroshima Summit, the electric minivan is said to have a range of 200 kilometers (124 miles).

In 2019, Foton Motor Group and the Chengtai Group, signed a joint venture agreement. The two sides will jointly establish a joint venture company in Thailand, which will set up a sales company and a manufacturing company, respectively, and give full play to the advantages of the two sides in commercial vehicle technology and market operation capabilities, and strive to become the third largest commercial vehicle Thai car brand in Thailand.

As an international commercial vehicle enterprise leading China’s commercial vehicle industry for 14 consecutive years, Foton’s business scope covers a full range of commercial vehicles such as medium and heavy trucks, light trucks, vans, pickup trucks, buses, passenger cars. Buses, construction machinery vehicles, etc.

The joint venture will utilize Foton’s strengths in commercial vehicles, new energy vehicle products and manufacturing technology, Telematics technology and ZD Group’s strategic customer relationships, banking resources and social influence to operate Foton’s heavy trucks, medium trucks, light truck trucks trucks, buses and new energy vehicles.

Despite the volatility in the economy triggered by the Covid-19 outbreak, which posed challenges to parcel shipment volumes, especially from the e-commerce channel, the courier business in Thailand has continued to grow.The local courier market is worth 50 billion baht in 2021, which is about half of the overall logistics segment. According to CRI’s analysis, from 2017-2021, the Thai market’s express parcel volume showed a changing trend of year-on-year growth, with a five-year CAGR of 47.24%.

In 2017, Thailand handled only 320 million express parcels in the whole year, and by 2021, the volume of express parcels handled in the country has grown rapidly to 1.5 billion parcels, an increase of 32.74% year-on-year, which is more than quadruple the five-year increase, and the development has been very rapidly.

From 2019-2022, according to CRI analysis, Light Commercial Vehicle sales volume in Thailand shows a trend of decrease and then increase, with a CAGR of -2.08% from 2019-2022. Due to the impact of Covid-19, in 2020, the annual sales volume of Light Commercial Vehicles in Thailand decreases by 16.75% to 449,000 units, and in 2021, the annual sales volume of Light Commercial Vehicles in Thailand decreases by 2.74% to 436,000 units.

With the gradual liberalization of the embargo measures, the economy started to recover, and the market and supply chain gradually recovered, in 2022, Thailand’s light commercial vehicle market started to rebound, with an increase of 15.96% in the annual sales of light commercial vehicles, and the annual sales of light commercial vehicles amounted to 506,000 units, respectively.

With the growing e-commerce logistics market in Thailand, the continued rise in disposable income of the population, and the replacement of traditional fuel trucks by electric light trucks, CRI expects the light truck market in Thailand to continue to grow in the future, with sales volume reaching 693,000 units in 2032, and a compounded annual growth rate (CAGR) of 3.2% over the 2023-2032 period.

Topics covered:

• Overview of the Light Truck Industry in Thailand
• Economic and Policy Environment of Light Truck Industry in Thailand
• What is the impact of COVID-19 on the light truck industry in Thailand?
• Thailand Light Truck Industry Market Size, 2023-2032
• Analysis of Major Thai Light Truck Industry Players
• Key Drivers and Market Opportunities in Thailand’s Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in Thailand during the forecast period 2023-2032?
• Which are the key players in Thailand Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of Thailand Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Thailand Light Truck Industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the Light Trucks industry in Thailand?

Related reports:

• Malaysia Light Truck Industry Research Report 2023-2032
• Indonesia Light Truck Industry Research Report 2023-2032
• Philippines Light Truck Industry Research Report 2023-2032
• Vietnam Light Truck Industry Research Report 2023-2032

Table of Contents

1. Thailand Overview

1.1 Geographical Situation

1.2 Thailand’s Demographic Structure

1.3 Thailand’s Economic Situation

1.4 Minimum Wage in Thailand, 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in Thailand

2. Thailand Light Truck Industry Operation 2018-2022

2.1 Status of Light Truck Production in Thailand (Pickups, Vans, Minivans, etc.)

2.2 Sales of Light Trucks in Thailand

2.3 Thailand’s Import and Export of Light Trucks

2.4 Development of Electric Light Trucks in Thailand

3. Thailand’s Light Truck Policy Environment:

3.1 Driver’s License Requirements (Are They Different from Passenger Cars)

3.2 Licensing Fees

4. Market Competition in Thailand’s Light Truck Industry

4.1 Entry Barriers for Thailand’s Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in Thailand

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in Thailand’s Light Truck Industry

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5. Thailand Major Light Truck Manufacturers Analysis

5.1 Daihatsu

5.1.1 Daihatsu Corporate Profile

5.1.2 Daihatsu’s Operations

5.2 Ford

5.2.1 Overview of Ford Enterprises

5.2.2 Ford Operations

5.3 Isuzu

5.3.1 Isuzu Company Profile

5.3.2 Isuzu’s Operations

5.4 Mazda

5.4.1 Mazda Corporate Profile

5.4.2 Mazda Operations

5.5 Mitsubishi

5.5.1 Mitsubishi Corporate Profile

5.5.2 Mitsubishi Operations

5.6 Chevrolet

5.6.1 Chevrolet Corporate Profile

5.6.2 Chevrolet Operations

5.7 Foton

5.7.1 Foton Corporate Profile

5.7.2 Foton Operations

5.8 Nissan

5.8.1 Nissan Corporate Profile

5.8.2 Nissan Operations

5.9 Toyota

5.9.1 Overview of Toyota Enterprises

5.9.2 Toyota Operations

6. Thailand Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors Contributing to the Development of the Light Truck Industry in Thailand

6.1.1 Drivers and Development Opportunities for the Light Truck Industry in Thailand

6.1.2 Threats and Challenges Facing the Light Truck Industry in Thailand

6.2 Supply Forecast for Thailand Light Truck Industry

6.3 Demand Forecast for Thailand Light Truck Market

6.4 Import and Export Forecasts for Thailand’s Light Truck Industry

6.5 Thailand Light Truck Industry Revenue Forecasts

The post Thailand Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

For decades, burdensome liquor laws allowed only a few large breweries to dominate the market and barred small-scale newcomers from entering. 2022 In early November, Thailand began implementing new regulations for the liquor industry, which lowered the barriers to entry for small businesses.

Under the original regulations, in order to obtain a brewing license, a brewery had to have a minimum capital of 10 million baht (US$ 286,000) and annual beer production of 100,000 to 1 million liters, both of which were eliminated under the new regulations. The implementation of the new regulations will help other companies enter the market and promote diversity.

The Thai beer market is oligopolistic, consisting of several major players, namely Boon Rawd Brewery Co., Ltd. The first and largest brewery established in 1933, produces Singha, Leo, U Beer, etc. and holds 55-60% of the market. Thai Breweries is the second largest brewer with major brands including Chang, Archa and Federbrau with 35-40% of the market. TAPB, the producer of Heineken, Tiger and Cheers, has 4-5% of the market. The remaining 0.5-1% are Thai craft and imported beers.

In the past, the Thai beer market has grown steadily, but in recent years it has grown due to innovations by Thai beer companies such as Singha and Chang to attract new customers. Today, ultra-premium beer has a market share of less than 1%, but CRI expects its share to rise rapidly as the new generation of consumers likes to try and taste new things, which is in line with the trend in the global beer market.

In 2021, Thailand exported $106 million of beer, making it the world’s 19th largest beer exporter. In the same year, beer was Thailand’s 309th largest export product. The main destinations for Thai beer exports are Myanmar (US$40 million), the United Arab Emirates (US$18 million), Cambodia (US$11.5 million), the United Kingdom (US$4.55 million), and Israel (US$3.71 million).

The fastest-growing markets for Thai beer exports from 2020 to 2021 were Myanmar (US$9.54 million), the United Kingdom (US$1.46 million), and the United States (US$1.46 million). （The fastest growing markets for Thai beer exports from 2020 to 2021 are Myanmar ($9.54 million), the UK ($1.46 million) and the US ($1.46 million).

CRI expects Thailand’s beer industry to experience rapid growth from 2023-2032 as the negative impacts of COVID-19 on the economy have largely been eliminated, and there are significant market opportunities for global investors. CRI expects export value of Thailand’s beer to reach US$ 300 million by 2032, with a compound annual growth rate (CAGR) of 10.8% from 2023 to 2032.

Topics covered:

• Thailand Beer Industry Overview
• Economic and Policy Environment of the Thai Beer Industry
• What is the impact of COVID-19 on the Thai beer industry?
• Thailand Beer Industry Market Size, 2023-2032
• Analysis of major Thai beer industry players
• Key Drivers and Market Opportunities in the Thai Beer Industry
• What are the key drivers, challenges and opportunities for the beer industry in Thailand during the forecast period 2023-2032?
• Which are the key players in the Thailand Beer Industry market and what are their competitive advantages?
• What is the expected revenue of the Thailand Beer Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Thailand Beer Industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the beer industry in Thailand?

Table of Contents

1. Thailand Overview

1.1 Geographical Situation

1.2 Thailand’s Demographic Structure

1.3 Thailand’s Economy

1.4 Minimum Wage in Thailand, 2011-2022

1.5 Impact of COVID-19 on the Thai Beer Industry

2. Thailand’s Beer Industry Development Environment

2.1 A Brief History of Beer Development in Thailand

2.2 Types of Beer in Thailand

2.3 Policy Environment of the Thai Beer Industry

3. Thailand Beer Industry Supply and Demand Situation

3.1 Supply Situation of Thailand Beer Industry

3.1.1 Thailand Beer Production Capacity Analysis

3.1.2 Analysis of Beer Production in Thailand

3.2 Demand in the Thai Beer Industry

4. Thailand’s Beer Industry Import and Export Situation

4.1 Import Status of Thailand’s Beer Industry

4.1.1 Thailand Beer Import Volume and Value

4.1.2 Thailand’s Main Sources of Beer Imports

4.2 Export Status of Thailand’s Beer Industry

4.2.1 Thailand’s Beer Export Volume and Value

4.2.2 Thailand’s Main Export Destinations for Beer

5. Market Competition in Thailand’s Beer Industry

5.1 Entry Barriers for the Thai Beer Industry

5.1.1 Brand Barriers

5.1.2 Quality Barriers

5.1.3 Capital Barriers

5.2 Competitive Structure of the Thai Beer Industry

5.2.1 Bargaining Power of Beer Suppliers

5.2.2 Consumer Bargaining Power

5.2.3 Competition in the Thai Beer Industry

5.2.4 Potential Entrants in the Beer Industry

5.2.5 Substitutes for Beer

6. Analysis of Major Beer Brand Companies in Thailand

6.1 Boon Rawd Brewer Co., Ltd.

6.1.1 History of Boon Rawd Brewer Co., Ltd.

6.1.2 Main Products of Boon Rawd Brewer Co., Ltd.

6.1.3 Operating Model of Boon Rawd Brewer Co., Ltd.

6.2 Thai Beverage Plc. (Thai Bev)

6.2.1 History of Thai Beverage Plc. (Thai Bev)

6.2.2 Main Products of Thai Beverage Plc. (Thai Bev)

6.2.3 Thai Beverage Plc.’s (Thai Bev) Operating Model

6.3 Thai Asia Pacific Brewery Co., Ltd. (TAPB. Boon Rawd Brewery)

6.3.1 History of Thai Asia Pacific Brewery Co., Ltd.

6.3.2 Main Products of Thai Asia Pacific Brewery Co., Ltd.

6.3.3 Operating Model of Thai Asia Pacific Brewery Co., Ltd.

6.4 Carlsberg

6.5 Heineken

6.6 Phuket Beer

6.7 San Miguel Brewery

7. Thailand Beer Industry Outlook, 2023-2032

7.1 Analysis of Factors for the Development of the Thai Beer Industry

7.1.1 Drivers and Growth Opportunities for Thailand’s Beer Industry

7.1.2 Threats and Challenges Facing the Thai Beer Industry

7.2 Thailand Beer Industry Supply Forecast

7.3 Thailand Beer Market Demand Forecast

7.4 Thailand Beer Import and Export Forecast

The post Thailand Beer Industry Research Report 2023-2032 first appeared on CRI Report.

In 2021, the Philippine Department of Trade and Industry (DTI) enacted a law on automobile import safeguards to protect the domestic automobile business. DTI Secretary Ramon Lopez announced that the country would begin imposing a tariff of PHP 70,000 (US$ 1,460) on passenger cars and PHP 110,000 (US$ 2,262) on light commercial vehicles.

Cars from Thailand, the United States, Japan and Europe are also subject to this rule. Cars from some countries, such as the People’s Republic of China, South Korea, Malaysia, and some Indonesia, are exempted from this rule.On August 6, 2021, the safeguard duty on imported cars was suspended. The DTI’s decision to lift the safeguard restriction on imported cars will go a long way in helping the industry recover, as imported cars account for the vast majority of cars sold in the Philippines.

Sales continued to rebound following the lifting of the embargo and the gradual increase in mobility in the Philippines. In addition, automobile sales have recovered from the impact of the country’s increased automobile taxes. According to CRI’s analysis, the Philippine automotive industry saw a 31.3% increase in sales in 2022, with a total of approximately 350,000 units sold. The highest growth rates were recorded for light commercial vehicles and Asian utility vehicles (AUVs). By 2023, total automobile sales in the Philippines are expected to increase to 400,000 units.

From 2018-2022, according to CRI analysis, annual sales of light trucks in the Philippines show a trend of decreasing and then increasing, with a CAGR of -4.3% from 2018-2022. Affected by Covid-19, the Philippine light truck market suffered a setback in 2020 with a sharp decline of 40.5% to 90,000 units. With the gradual contact of the embargo, the economy is starting to recover. annual sales of light trucks in the Philippines in 2022 will be around 130,000 units, a 25.3% increase year-on-year.

The e-commerce market in the Philippines is in a fast-growing development phase with the rising number of mobile smartphone users and the gradual formation of online shopping spending habits among consumers, boosting the logistics industry and leading to a rising demand for light trucks in the Philippine market. Investors from China and Japan, among others, have committed to establish or expand existing logistics facilities in Southern Luzon, Philippines; the rise of e-commerce (73.9 million users by 2021) along with the popularity of the internet has increased the demand for industrial freight warehouses in the country.

As an archipelagic and import-oriented country that is highly dependent on the sea, light trucks are widely used in ports and airports in the Philippines. With the government’s rapid improvement in logistics infrastructure and the growing e-commerce market, the Philippines’ logistics industry and the market for small package delivery services have plenty of room for future growth, and the demand for light trucks will continue to grow.

CRI expects the sales volume of Philippines’ light trucks to reach 286,000 units in 2032 and the CAGR is 8.2% from 2023 to 2032. The Philippines has been a leader in the development of light trucks since the 1970s, and the country has been a leader in the development of light trucks since the 1980s.

Topics covered:

• Overview of the Light Truck Industry in the Philippines
• Economic and Policy Environment of the Light Truck Industry in the Philippines
• What is the impact of COVID-19 on the light truck industry in the Philippines?
• Philippines Light Truck Industry Market Size, 2023-2032
• Analysis of Major Philippine Light Truck Industry Players
• Key Drivers and Market Opportunities in the Philippines Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in the Philippines during the forecast period 2023-2032?
• Which are the key players in the Philippines Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of the Philippines Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Philippines light truck industry market is expected to dominate the market by 2032?
• What are the key unfavorable factors facing the Light Trucks industry in the Philippines?

Related Reports:

• Malaysia Light Truck Industry Research Report 2023-2032
• Indonesia Light Truck Industry Research Report 2023-2032
• Thailand Light Truck Industry Research Report 2023-2032
• Vietnam Light Truck Industry Research Report 2023-2032

Table of Contents

1. Overview of the Philippines

1.1 Geographical Situation

1.2 Demographic Structure of the Philippines

1.3 Economic Situation in the Philippines

1.4 Philippine Minimum Wage 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in the Philippines

2. Operation of the Light Truck Industry in the Philippines 2018-2022

2.1 Status of Light Truck Production in the Philippines (Pickups, Vans, Minivans, etc.)

2.2 Light Truck Sales in the Philippines

2.3 Import and Export of Light Trucks in the Philippines

2.4 Development of Electric Light Trucks in the Philippines

3. Light Truck Policy Environment in the Philippines:

3.1 Driver’s License Requirements (Are They Different from Passenger Cars)

3.2 Licensing Fees

4. Market Competition in the Philippine Light Truck Industry

4.1 Barriers to Entry in the Philippine Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in the Philippines

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in the Light Truck Industry in the Philippines

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5. Analysis of Major Light Truck Manufacturers in the Philippines

5.1 Ford

5.1.1 Overview of Ford Enterprises

5.1.2 Ford Operations

5.2 Toyota

5.2.1 Overview of Toyota Enterprises

5.2.2 Toyota Operations

5.3 Nissan

5.3.1 Nissan Corporate Profile

5.3.2 Nissan Operations

5.4 Mitsubishi

5.4.1 Mitsubishi Corporate Profile

5.4.2 Mitsubishi Operations

5.5 Mazda

5.5.1 Mazda Corporate Profile

5.5.2 Mazda’s Operations

5.6 Isuzu

5.6.1 Isuzu Company Profile

5.6.2 Isuzu’s Operations

5.7 HMP

5.7.1 HMP Business Overview

5.7.2 HMP Operations

6. Philippines Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors for the Development of the Light Truck Industry in the Philippines

6.1.1 Drivers and Growth Opportunities for the Light Truck Industry in the Philippines

6.1.2 Threats and Challenges Facing the Light Truck Industry in the Philippines

6.2 Supply Forecast for Light Truck Industry in the Philippines

6.3 Light Truck Market Demand Forecast in the Philippines

6.4 Import and Export Forecasts for the Light Truck Industry in the Philippines

6.5 Revenue Forecasts for the Light Truck Industry in the Philippines

The post Philippines Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

The Philippine electric vehicle (EV) market is smaller than its neighbors in the Southeast Asian region in terms of size. However, with changes in energy policy, government incentives for investment and adoption of cleaner technologies, the Philippines EV market has a bright future.

EVIDA LAW INCENTIVIZES DEVELOPMENT OF EV INDUSTRY: In April 2022, the Philippines passed the Electric Vehicle Industry Development Act (EVIDA, Republic Act 11697).The passage of the EVIDA is in line with Philippine policies that seek to ensure the country’s energy security and independence by reducing the transportation sector’s dependence on imported fuels.

The passage of the Act helps the Philippine EV industry to develop more granular guiding regulations to facilitate private sector participation in a level and non-discriminatory playing field. Under the EVDA, all electric and hybrid vehicles will be issued a special EV license plate and will be entitled to tax exemptions. Under the TRAIN Act, also known as the Tax Reform for Acceleration and Inclusion Act (TRAIN), fully battery-powered vehicles will be exempted from 100 percent of the excise tax, while hybrids powered by both fuel and batteries will be exempted from 50 percent of the excise tax.

Import tariff reduction to boost electric vehicle import growth in the Philippines: the Philippine National Economic and Development Authority (PNEDA) passed an executive order on November 24, 2022 that will reduce tariffs on several imported electric vehicles and parts in early 2023. At that time, the authority will temporarily withdraw tariffs on imported EVs for a period of five years, but will not apply to hybrid vehicles. The current 5 percent tariff on electric vehicle parts will be reduced to 1 percent within the same period.

The Philippines’ Department of Transportation (DOTr) is implementing a Public Utility Vehicle (PUV) Modernization Program, a massive transportation initiative that calls for the phasing out of jeepneys (World War II-era jeepneys converted to public transportation) that are at least 15 years old and replacing them with environmentally friendly alternatives. The replacements can be Euro 4 compliant vehicles or electric vehicles. There are nearly 180,000 jeeps in the country that need to be replaced, and the electric vehicle industry is aiming to meet 10 percent of this potential demand.

From 2020-2022, electric vehicle sales in the Philippines are growing year-on-year, with a CAGR of 63.70% from 2020-2022, according to CRI’s analysis. In 2020, only 378 electric vehicles will be sold in the Philippines, and by 2022, this number grows to 1,013, a year-on-year increase of 20.17%.

CRI expects the sales volume of Philippine’s EV to reach 150,800 units in 2032, growing at a CAGR of 59.7% from 2023-2032.

The Philippine electric vehicle market is expected to see rapid growth in the next few years, and CRI anticipates that the Philippine electric vehicle supporting facilities industry, such as charging piles and charging stations, will also see many investment opportunities.

Topics covered:

• Overview of the Electric Vehicle Industry in the Philippines
• Economic and Policy Environment of the Philippine Electric Vehicle Industry
• What is the impact of COVID-19 on the Philippine electric vehicle industry?
• Philippines Electric Vehicle Industry Market Size, 2023-2032
• Analysis of Major Philippine Electric Vehicle Industry Manufacturers
• Key Drivers and Market Opportunities in the Philippine Electric Vehicle Industry
• What are the key drivers, challenges and opportunities for the Electric Vehicles industry in the Philippines during the forecast period 2023-2032?
• Which are the key players in the Philippines Electric Vehicle Industry market and what are their competitive advantages?
• What is the expected revenue of the Electric Vehicle Industry market in Philippines during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Philippines electric vehicle industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the electric vehicle industry in the Philippines?

Table of Contents

1. Overview of the Philippines

1.1 Geographical Situation

1.2 Demographic Structure of the Philippines

1.3 Economic Situation in the Philippines

1.4 Philippine Minimum Wage 2013-2022

1.5 Impact of COVID-19 on the Philippine Electric Vehicle Industry

2. Overview of the Electric Vehicle Industry in the Philippines

2.1 History of Electric Vehicle Development in the Philippines

2.2 FDI in the Philippine Electric Vehicle Industry

2.3 Policy Environment of the Philippine Electric Vehicle Industry

3. Supply and Demand Situation of the Electric Vehicle Industry in the Philippines

3.1 Supply Situation of the Electric Vehicle Industry in the Philippines

3.2 Demand in the Philippine Electric Vehicle Industry

4. Export and Import Status of the Electric Vehicle Industry in the Philippines

4.1 Import Status of the Philippine Electric Vehicle Industry

4.1.1 Electric Vehicle Import Volume and Value in the Philippines

4.1.2 Major Import Sources of Electric Vehicles in the Philippines

4.2 Export Status of the Philippine Electric Vehicle Industry

4.2.1 Export Volume and Value of Electric Vehicles in the Philippines

4.2.2 Major Export Destinations of Electric Vehicles in the Philippines

5. Cost and Price Analysis of the Electric Vehicle Industry in the Philippines

5.1 Cost Analysis of the Philippine Electric Vehicle Industry

5.1.1 Manpower Costs

5.1.2 Cost of Raw Materials

5.1.3 Other Costs

5.2 Price Analysis of the Philippine Electric Vehicle Industry

6. Market Competition in the Philippine Electric Vehicle Industry

6.1 Barriers to Entry in the Philippine Electric Vehicle Industry

6.1.1 Brand Barriers

6.1.2 Quality Barriers

6.1.3 Capital Barriers

6.2 Competitive Structure of the Philippine Electric Vehicle Industry

6.2.1 Bargaining Power of Electric Vehicle Suppliers

6.2.2 Consumer Bargaining Power

6.2.3 Competition in the Philippine Electric Vehicle Industry

6.2.4 Potential Entrants in the Electric Vehicle Industry

6.2.5 Alternatives to Electric Vehicles

7. Analysis of Major Electric Vehicle Companies in the Philippines

7.1 Jaguar

7.1.1 Jaguar Corporate Profile

7.1.2 Jaguar Corporate Electric Vehicle Sales

7.2 Changan

7.2.1 Changan Company Profile

7.2.2 Electric Vehicle Sales of Changan Enterprises

7.3 BYD

7.3.1 BYD Corporate Profile

7.3.2 BYD Enterprise Electric Vehicle Sales

7.4 Nissan

7.4.1 Nissan Corporate Profile

7.4.2 Nissan Corporate Electric Vehicle Sales

7.5 Tojo Motors

7.5.1 Tojo Motors Corporate Profile

7.5.2 Tojo Motors Corporate Electric Vehicle Sales

7.6 Honda

7.6.1 Overview of Honda Enterprises

7.6.2 Electric Vehicle Sales of Honda Enterprises

7.7 BMW

7.7.1 Overview of BMW Enterprises

7.7.2 BMW Corporate Electric Vehicle Sales

7.8 KYMCO

7.8.1 KYMCO Corporate Profile

7.8.2 Electric Vehicle Sales of KYMCO Enterprises

7.9 Lexus

7.9.1 Lexus Corporate Profile

7.9.2 Lexus Corporate Electric Vehicle Sales

7.10 Toyota

7.10.1 Overview of Toyota Enterprises

7.10.2 Electric Vehicle Sales of Toyota Enterprises

8. Philippines Electric Vehicle Industry Outlook, 2023-2032

8.1 Analysis of Factors for the Development of the Electric Vehicle Industry in the Philippines

8.1.1 Drivers and Growth Opportunities for the Electric Vehicle Industry in the Philippines

8.1.2 Threats and Challenges Facing the Electric Vehicle Industry in the Philippines

8.2 Supply Forecast for the Electric Vehicle Industry in the Philippines

8.3 Electric Vehicle Market Demand Forecast in the Philippines

8.4 Export and Import Forecasts for the Philippine Electric Vehicle Industry

The post Philippines Electric Vehicle Industry Research Report 2023-2032 first appeared on CRI Report.

Indonesia is the largest economy in Southeast Asia, and Indonesia has an abundant labor force with low labor costs. By the end of 2022, the population of Indonesia will be about 275 million, which is the fourth largest population in the world, with about 70% of the population aged 15-64, and the working population will be about 140 million, which is a plentiful labor force and consumer market. According to CRI’s analysis, the young population structure will bring 10 to 15 years of growth to the Indonesian consumer market.

Indonesia is one of the world’s top ten textile producers, and the textile and textile products industry is one of the most important industries in the Indonesian economy, providing employment for more than 3.7 million Indonesians. The majority of Indonesia’s total textile and clothing production is used to supply international demand, of which 70% is exported, with the United States of America being the largest exporter of Indonesian clothing and textiles.

As apparel companies continue to shift production out of China, Indonesia has become an attractive alternative. China’s position as a global cotton importer is declining, and most cotton exports are being shifted to competing countries, including Indonesia. The USDA forecasts that China’s cotton imports will increase by only 3.5 million bales over the 2021-2030 period, compared to an estimated 8.1 million bales for the major competing apparel countries Indonesia, Vietnam, Pakistan, Bangladesh, and Turkey combined. By 2030, China is expected to account for 24% of total global imports, while competing countries combined are expected to account for 47%.

Indonesia’s garment industry is concentrated in West Java, Central Java, East Java and Banten, which together account for more than 85 percent of all garment, textile and footwear employment. The garment industry is labor-intensive and easy to relocate, and employers have been relocating factories to areas with lower minimum wages.

From 2018 to 2022, according to CRI analysis, Indonesia’s textile and apparel export value shows a trend of change firstly decreasing and then increasing, with a CAGR of 4.16% from 2018 to 2022.In 2020, affected by the COVID-19 epidemic, Indonesia’s apparel manufacturing industry contracted, and Indonesia’s textile and apparel export value was 5.857 billion U.S. dollars, which was a year-on-year decline of 17.19%.In 2021 The Indonesian government relaxed the control measures, and the export of Indonesia’s textile and apparel industry recovered rapidly in 2021 and 2022, and the export value of Indonesia’s textile and apparel in 2021 and 2022 was US$6.909 billion and US$7.992 billion, respectively, an increase of 17.98% and 15.6% year-on-year, respectively.

The textile industry is now a strategic target industry for Indonesia. The prospects of Indonesia’s textile industry offer golden opportunities for investors, especially in the supply of sophisticated machinery and production equipment and capacity building. Its business environment has become more lucrative due to the increased purchasing power of the population and the proliferation of e-commerce platforms. This aggressive consumer behavior following lifestyle trends will fuel high demand for functional textiles for apparel, automotive, fitness, sports and military applications. The recently established Industrial Services and Solutions Centre (ISSC) facility at the Centre for Standardization and Textile Industry Services (BBSPJIT) is in its prime. It provides information services, testing, calibration, product and quality system certification, technical training and consultancy, develops standards for the textile industry and provides inclusive professional assistance to the textile industry. This integrated infrastructure will not only help meet domestic demand, but also increase the competitiveness of the textile industry in the global market, especially in the EU – one of Indonesia’s major export destinations. Indonesia is in the process of negotiating with the EU for an Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA), and Indonesia is looking towards Vietnam and Bangladesh.

At the same time, the Indonesian Government was constantly striving to build a productive, connected and sustainable textile ecosystem. By 2030, the country is expected to become one of the top five global textile manufacturers and one of the world’s top 10 economies in the Industry 4.0 era.

In the coming years, Indonesia’s textile and apparel exports will continue to grow due to its low-cost advantage. CRI expects the export value of Indonesia’s textiles and garments to reach US$ 18.2 billion in 2032, representing a compound annual growth rate (CAGR) of about 8.6% from 2023-2032.

Topics covered:

• Overview of the Garment Industry in Indonesia
• Economic and policy environment of Indonesia’s apparel industry
• What is the impact of COVID-19 on the Indonesian garment industry?
• Indonesia Clothing Industry Market Size 2018-2022
• Analysis of major Indonesian apparel companies
• Key Drivers and Market Opportunities in Indonesia’s Apparel Industry
• What are the key drivers, challenges and opportunities for the Indonesian apparel industry during the forecast period 2023-2032?
• Which are the key players in the Indonesia Garment Industry market and what are their competitive advantages?
• What is the expected revenue of Indonesia Garment Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Indonesia apparel industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the Indonesian apparel industry?

Table of Contents

1. Overview of the Development of the Apparel Industry in Indonesia

1.1 Definitions and Classifications

1.2 Analysis of Major Products

1.3 Impact of COVID-19 on the Garment Manufacturing Industry in Indonesia

2. Overview of Indonesia’s Garment Manufacturing Industry

2.1 Development Environment of Indonesia’s Apparel Industry

2.1.1 Economic Environment

2.1.2 Policy Environment

2.1.3 Social Environment

2.2 Indonesia Apparel Supply Analysis 2018-2022

2.2.1 Indonesia Garment Manufacturing Industry Major Foreign Investment Source Countries Analysis

2.2.2 Clothing Production

2.3 Indonesia Market Demand Analysis for Apparel

2.3.1 Major Consumer Groups of Clothing

2.3.2 Size of Indonesia’s Domestic Apparel Market

3. Indonesia Textile and Clothing Industry Import and Export Analysis

3.1 Imports

3.1.1 Import of Raw Materials

3.1.2 Main Sources of Imports

3.2 Exports

3.2.1 Indonesia Garment Industry Export Analysis

3.2.2 Main Export Destinations

4. Competition in Indonesia’s Garment Manufacturing Industry

4.1 Barriers to Entry in Indonesia’s Clothing Industry

4.1.1 Government Policies

4.1.2 Sales Channels

4.1.3 Brand Barriers

4.2 Competitive Structure of Indonesia’s Garment Manufacturing Industry

4.2.1 Bargaining Power of Raw Material Suppliers

4.2.2 Bargaining Power of Consumers

4.2.3 Competition within the Apparel Industry

4.2.4 Potential Entrants

4.2.5 Alternatives

5. Cost and Price Analysis of Garment Manufacturing in Indonesia

5.1 Indonesia Garment Manufacturing Cost Analysis 2018-2022

5.1.1 Cost of Raw Materials

5.1.2 Indonesia Garment Manufacturing Labor Cost Analysis

5.2 Indonesia Clothing Price Analysis

6. Profile of Major Garment Manufacturing Companies in Indonesia

6.1 PT INDONESIA TORAY SYNTHETICS

6.1.1 Business Profile

6.1.2 Main Products

6.1.3 Modes of Operation

6.2 PT ACRYL TEXTILE MILLS

6.2.1 Business Profile

6.2.2 Main Products

6.2.3 Modes of Operation

6.3 PT CENTURY TEXTILE INDUSTRY TBK

6.3.1 Business Profile

6.3.2 Main Products

6.3.3 Modes of Operation

6.4 PT PETNESIA RESINDO

6.4.1 Business Profile

6.4.2 Main Products

6.4.3 Modes of Operation

6.5 PT JABATO INTERNATIONAL

6.5.1 Business Profile

6.5.2 Main Products

6.5.3 Modes of Operation

6.6 PT INDONESIA SYNTHETICS TEXTILE MILLS

6.7 PT EASTERNTEX

6.8 PT OST FIBRE INDUSTRIES

7. Indonesia Garment Manufacturing Outlook, 2023-2032

7.1 Factors Influencing the Development of Indonesia’s Garment Manufacturing Industry

7.1.1 Drivers and Market Opportunities in Indonesia Clothing Manufacturing Industry

7.1.2 Threats and Challenges Facing Clothing Manufacturing Industry in Indonesia

7.1.3 Industry Prospects and Market Opportunities

7.2 Competitive Landscape Forecast for Indonesia Clothing Manufacturing Industry

7.3 Supply Forecast of Garment Manufacturing in Indonesia, 2023-2032

7.3.1 Indonesia Garment Manufacturing Raw Material Import Forecast 2023-2032

7.3.2 Indonesia Garment Export Forecast 2023-2032

7.4 Indonesia Garment Manufacturing Market Demand Forecast 2023-2032

7.4.1 Overall Market Demand Forecast for Garment Manufacturing in Indonesia, 2023-2032

7.4.2 Demand Forecast for Indonesia Garment Manufacturing Segment, 2023-2032

The post Indonesia Garment Manufacturing Industry Research Report, 2023-2032 first appeared on CRI Report.

The washing machine market can be segmented on the basis of type into front loading automatic, top loading automatic and semi-automatic. Fully automatic washing machines require a single touch to start the operation, whereas semi-automatic washing machines require human assistance to transfer wet clothes from one drum to another. According to CRI’s analysis, the market size of Vietnam’s washing machine industry has been expanding as residents’ demand for washing machines continues to grow with rising disposable incomes, an increase in the number of nuclear families, a reduction in the size of homes, and a rise in the busyness of residents’ lives.

Rising consumer tiers and technological innovations in the washing machine industry, including drive and bubble technologies, are rooted in growing demand. Factors such as how to reduce the energy consumption of washing machines and the damage to fabrics during the washing process are influencing the overall growth of the washing machine market, which is what consumers are looking for when selecting a washing machine, and are key to the competitiveness of washing machine manufacturers in the market. Increased use of internet and growth in online sales of washing machines are providing new ways for manufacturers to connect with their customers. The supply chain of the washing machine industry has also undergone significant changes due to increased globalization and digital technology.

Many product innovations are being developed in parallel to support market expansion. With the official launch of Samsung’s Vina washing machine, a new era of smart washing machines has begun in Vietnamese households. Samsung’s new range of fully automatic front-loading washing machines features the company’s proprietary Eco Bubble and Quick Drive technologies, which save time and energy while caring for fabrics by up to 45%. Inverter technology and Wi-Fi connectivity are seen as future and potential market growth drivers for the washing machine industry.

As Vietnam’s economy grows, more Vietnamese consumers will be buying washing machines for the first time or replacing their existing ones. Forecasts anticipate the market size of Vietnam’s washing machine market to continue to rise.CRI expects the market size of Vietnam’s washing machine market to reach US$1.61 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2032.

Topics covered:

• Overview of the washing machine industry in Vietnam
• Economic and policy environment of Vietnam’s washing machine industry
• What is the impact of COVID-19 on Vietnam’s washing machine industry?
• Vietnam Washing Machine Industry Market Size, 2023-2032
• Analysis of Major Vietnamese Washing Machine Industry Manufacturers
• Key Drivers and Market Opportunities in Vietnam Washing Machine Industry
• What are the key drivers, challenges and opportunities for the Washing Machines industry in Vietnam during the forecast period 2023-2032?
• Which are the key players in Vietnam Washing Machine Industry market and what are their competitive advantages?
• What is the expected revenue of Vietnam Washing Machine Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Vietnam Washing Machine Industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the Washing Machines industry in Vietnam?

Table of Contents

1. Overview of Vietnam

1.1 Geographical Situation

1.2 Demographic Structure of Vietnam

1.3 Economic Situation in Vietnam

1.4 Minimum Wage in Vietnam, 2013-2022

1.5 Impact of COVID-19 on Vietnam’s Washing Machine Industry

2. Overview of the Washing Machine Industry in Vietnam

2.1 History of Washing Machine Development in Vietnam

2.2 FDI in Vietnam’s Washing Machine Industry

2.3 Policy Environment of Vietnam’s Washing Machine Industry

3. Supply and Demand Situation of Vietnam Washing Machine Industry

3.1 Supply Situation of Vietnam Washing Machine Industry

3.2 Demand Situation in Vietnam’s Washing Machine Industry

4. Import and Export Situation of Vietnam’s Washing Machine Industry

4.1 Import Status of Vietnam’s Washing Machine Industry

4.1.1 Vietnam Washing Machine Import Volume and Value

4.1.2 Main Import Sources of Washing Machines in Vietnam

4.2 Export Status of Vietnam’s Washing Machine Industry

4.2.1 Export Volume and Value of Washing Machines in Vietnam

4.2.2 Main Export Destinations of Washing Machines in Vietnam

5. Vietnam Washing Machine Industry Cost Analysis

6. Vietnam Washing Machine Industry Market Competition

6.1 Entry Barriers for Vietnam’s Washing Machine Industry

6.1.1 Brand Barriers

6.1.2 Quality Barriers

6.1.3 Capital Barriers

6.2 Competitive Structure of the Vietnamese Washing Machine Industry

6.2.1 Bargaining Power of Washing Machine Suppliers

6.2.2 Consumer Bargaining Power

6.2.3 Competition in Vietnam’s Washing Machine Industry

6.2.4 Potential Entrants in the Washing Machine Industry

6.2.5 Substitutes for Washing Machines

7. Analysis of the Major Vietnamese Enterprises Manufacturing and Selling Washing Machines

7.1 Panasonic Vietnam Co., Ltd

7.1.1 Panasonic Vietnam Co., Ltd. Corporate Profile

7.1.2 Panasonic Vietnam Co., Ltd. Enterprise Washing Machine Sales Volume

7.2 LG Electronics Vietnam Hai Phong Co., Ltd.

7.2.1 LG Electronics Vietnam Hai Phong Co., Ltd. Corporate Profile

7.2.2 Sales of Washing Machines of LG Electronics Vietnam Hai Phong Co., Ltd. Enterprise

7.3 Toshiba Vietnam Consumer Products Co., Ltd.

7.3.1 Corporate Profile of Toshiba Vietnam Consumer Products Co., Ltd.

7.3.2 Toshiba Vietnam Consumer Products Co., Ltd. Enterprise Washing Machine Sales Volume

7.4 Haier Electrical Appliances Vietnam Co Ltd. (Aqua)

7.4.1 Haier Electrical Appliances Vietnam Co Ltd. (Aqua) Company Profile

7.4.2 Haier Electrical Appliances Vietnam Co Ltd. (Aqua) Enterprise Washing Machine Sales Volume

7.5 Samsung Vina Electronics Co., Ltd.

7.5.1 Samsung Vina Electronics Co., Ltd. Corporate Profile

7.5.2 Samsung Vina Electronics Co., Ltd. Corporate Washing Machine Sales Volume

7.6 Electrolux Vietnam Ltd.

7.6.1 Corporate Profile of Electrolux Vietnam Ltd.

7.6.2 Sales of Washing Machines in Electrolux Vietnam Ltd. Enterprises

7.7 Sharp Vietnam Electronics Co., Ltd.

7.7.1 Corporate Profile of Sharp Vietnam Electronics Co., Ltd.

7.7.2 Sharp Vietnam Electronics Co., Ltd. Corporate Washing Machine Sales Volume

7.8 Arcelik Hitachi Home Appliances Sales Vietnam

7.8.1 Arcelik Hitachi Home Appliances Sales Vietnam Company Profile

7.8.2 Arcelik Hitachi Home Appliances Sales Vietnam Enterprise Washing Machine Sales

7.9 Midea Vietnam

7.9.1 Midea Vietnam Company Profile

7.9.2 Midea Vietnam Enterprises Washing Machines Sales

7.10 Vietbeko Co., Ltd

7.10.1 Corporate Profile of Vietbeko Co., Ltd.

7.10.2 Sales of Washing Machines in Vietbeko Co., Ltd. Enterprises

8. Vietnam Washing Machine Industry Outlook, 2023-2032

8.1 Analysis of Factors Contributing to the Development of the Washing Machine Industry in Vietnam

8.1.1 Drivers and Development Opportunities for Vietnam’s Washing Machine Industry

8.1.2 Threats and Challenges Facing Vietnam’s Washing Machine Industry

8.2 Vietnam Washing Machine Industry Supply Forecast

8.3 Vietnam Washing Machine Market Demand Forecasts

8.4 Import and Export Forecast for Vietnam’s Washing Machine Industry

The post Vietnam Washing Machine Industry Research Report 2023-2032 first appeared on CRI Report.

In Vietnam’s automobile market, light trucks are best sellers due to their versatility and low price and registration fees. For example, pickup trucks can be used as sedans for daily use and traveling weekends for families, as well as for commercial purposes.

According to CRI’s analysis, Vietnam’s light truck market has products from several companies on sale, such as Ford Ranger, Mazda BT-50, Mitsubishi Triton, Nissan NP300 Navara, Chevrolet Colorado, Isuzu D-Max, and Toyota Hilux, as well as brands from China, such as Jiangling Motors.

For manufacturing light trucks, original equipment manufacturers (OEMs) usually prefer complete knock-down (CKD) imports, where they import parts and then assemble the vehicle in Vietnam. However, for heavy-duty trucks, OEMs prefer to import fully assembled (CBU) units – importing the entire truck as a complete unit. These import preferences stem from low CKD tariffs for light trucks and low CBU tariffs for heavy trucks. Import activity is dominated by the heavy-duty truck segment, with a significant share in the small truck segment.

With the implementation of Order No. 20 of April 2019, the registration fees for light trucks and vans were officially increased to three times the original level. According to this regulation, light trucks with 5 seats and less pay 60% of the first registration fee for cars with 9 seats and less, instead of 2%. At this rate, the light truck registration fee increases to 6-7.2% in 2019. Of this, 7.2% is applied in Hanoi, where the automobile market has changed significantly.

Vietnam’s light truck market continues to show resilience, and in 2021, TCMV is launching three new models in the Vietnamese market, including two trucks and a van, in partnership with SGMW, a joint venture between three companies, namely SAIC, General Motors China, and Liuzhou Wuling Motors; TCMV is a subsidiary of TCMH (Tan Chong Motors Holdings Berhad) – one of the pioneers in the Malaysian automotive industry.

Vietnam’s courier, express and parcel (CEP) services market was valued at US$ 710 million in 2021, and the market size for courier services in Vietnam reached US$ 900 million in 2022, and is expected to exceed the US$4.9 billion mark by 2030. According to CRI’s analysis, the demand for light trucks in Vietnam’s courier market will continue to rise.

As we enter 2022, Vietnam’s economy is gradually recovering from the epidemic and supply chain bottlenecks have eased in recent months, helping automakers improve their supply to the market. The explosion of online shopping in Vietnam in recent years has led to increased demand for new warehouses to be built and placed in various locations; logistics services and short-distance delivery will have huge growth potential in the near future. CRI expects demand for light trucks in the Vietnamese market to continue to rise.

The annual sales volume of light trucks in Vietnam in 2022 was about 50,000 units. CRI expects the demand for light trucks in the logistics industry to rise with the high growth of the electric vehicle market in Vietnam, the expanding e-commerce market. As well as the rising disposable income of the population and the rising intention of householders to acquire pickup trucks, CRI expects the light truck industry in Vietnam to maintain growth in the future. CRI expects light truck sales in Vietnam to reach 200,300 units in 2032, growing at a compound annual growth rate (CAGR) of 13.8% over the 2023-2032 period.

For light truck manufacturers, the Vietnamese market will become one of the highest growth markets in the world in the next 10 years, in which there are many market opportunities.

Topics covered:

• Overview of the Light Truck Industry in Vietnam
• Economic and Policy Environment of Light Truck Industry in Vietnam
• What is the impact of COVID-19 on the light truck industry in Vietnam?
• Vietnam Light Truck Industry Market Size, 2023-2032
• Analysis of major Vietnamese light truck industry players
• Key Drivers and Market Opportunities in Vietnam’s Light Truck Industry
• What are the key drivers, challenges and opportunities for the Light Truck industry in Vietnam during the forecast period 2023-2032?
• Which are the key players in Vietnam Light Truck Industry market and what are their competitive advantages?
• What is the expected revenue of Vietnam Light Truck Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Vietnam light truck industry market is expected to dominate the market by 2032?
• What are the key unfavorable factors facing the light truck industry in Vietnam?

Related Reports:

• Malaysia Light Truck Industry Research Report 2023-2032
• Indonesia Light Truck Industry Research Report 2023-2032
• Thailand Light Truck Industry Research Report 2023-2032
• Philippines Light Truck Industry Research Report 2023-2032

Table of Contents

1. Overview of Vietnam

1.1 Geographical Situation

1.2 Demographic Structure of Vietnam

1.3 Economic Situation in Vietnam

1.4 Minimum Wage in Vietnam, 2013-2022

1.5 Impact of COVID-19 on the Light Truck Industry in Vietnam

2. Overview of the Light Truck Industry in Vietnam

2.1 Operation of the Light Truck Industry in Vietnam, 2018-2022

2.1.1 Status of Light Truck Production in Vietnam (Light Trucks, Vans, Minivans, etc.)

2.1.2 Sales of Light Trucks in Vietnam

2.1.3 Import and Export of Light Trucks in Vietnam

2.1.4 Development of Electric Light Trucks in Vietnam

2.2 Vietnam Light Truck Policy Environment

2.2.1 Driver’s License Requirements (Are They Different from Passenger Cars)

2.2.2 Licensing Fees

3. Vietnam Light Truck Market Key Distributors Analysis

3.1 Enterprise 1

3.2 Enterprise 2

3.3 Enterprise 3

3.4 Enterprise 4

3.5 Enterprise 5

4. Market Competition in Vietnam’s Light Truck Industry

4.1 Entry Barriers for Vietnam’s Light Truck Industry

4.1.1 Brand Barriers

4.1.2 Quality Barriers

4.1.3 Capital Barriers

4.2 Competitive Structure of the Light Truck Industry in Vietnam

4.2.1 Bargaining Power of Light Truck Suppliers

4.2.2 Consumer Bargaining Power

4.2.3 Competition in the Light Truck Industry in Vietnam

4.2.4 Potential Entrants in the Light Truck Industry

4.2.5 Alternatives to Light Trucks

5. Analysis of Major Light Truck Manufacturers in Vietnam

5.1 Ford

5.1.1 Overview of Ford Enterprises

5.1.2 Ford Operations

5.2 Toyota

5.2.1 Overview of Toyota Enterprises

5.2.2 Toyota Operations

5.3 Isuzu

5.3.1 Isuzu Company Profile

5.3.2 Isuzu’s Operations

5.4 Kia

5.4.1 Kia Corporate Profile

5.4.2 Kia Operations

5.5 Peugeot

5.5.1 Peugeot Corporate Profile

5.5.2 Peugeot Operations

5.6 Mazda

5.6.1 Mazda Corporate Profile

5.6.2 Mazda Operations

5.7 Hyundai

5.7.1 Hyundai Corporate Profile

5.7.2 Hyundai’s Operations

5.8 BMW-Mini

5.8.1 BMW-Mini Corporate Profile

5.8.2 BMW-Mini Operation Status

5.9 VinFast

5.9.1 VinFast Corporate Profile

5.9.2 VinFast Operations

5.10 Thaco

5.10.1 Thaco Corporate Profile

5.10.2 Thaco Operations

6. Vietnam Light Truck Industry Outlook, 2023-2032

6.1 Analysis of Factors Contributing to the Development of the Light Truck Industry in Vietnam

6.1.1 Drivers and Development Opportunities for the Light Truck Industry in Vietnam

6.1.2 Threats and Challenges Facing the Light Truck Industry in Vietnam

6.2 Supply Forecast for Vietnam Light Truck Industry

6.3 Demand Forecast for Vietnam Light Truck Market

6.4 Import and Export Forecast for Vietnam’s Light Truck Industry

6.5 Revenue Forecast for the Light Truck Industry in Vietnam

The post Vietnam Light Truck Industry Research Report 2023-2032 first appeared on CRI Report.

On January 1, 2023, a revised version of Vietnam’s insurance industry law came into effect. This new law provides many opportunities for foreign companies operating in the insurance sector. Most importantly, this amendment to the law will allow foreign companies to enter the Vietnamese market to provide insurance services on a wholly-owned basis, meaning that local partners will no longer be required, which will further open up the market for foreign insurers wishing to do business in Vietnam.

In 2021, there are 76 service providers in Vietnam’s insurance market, including 33 single-member limited liability companies and 11 limited liability companies with more than one person. In addition, the operation of 18 representative offices of foreign insurance companies in Vietnam’s market has played a positive role in improving the investment environment and increasing the confidence of foreign investors in conducting insurance business operations in Vietnam.

In 2021, the insurance sector has been growing steadily with the growth rate of GDP compared to GDP. The industry’s revenue (including investment income) reached VND255,876 million (about $11 million), of which, insurance premiums amounted to VND218,357 million (about $9,389,000), and investment income amounted to VND37,519 million (about $1,613,300).

In 2021, total underwritten premiums for life insurance in Vietnam amounted to VND59,135 billion (about US$2,543 million), a year-on-year increase of 4.34%. Compared to 2020, most of the key businesses achieved high growth rates, such as aviation insurance (38.77%), agricultural insurance (32.67%), cargo insurance (21.58%), liability insurance (21.58%), fire and explosion insurance (17.66%), hull and P&I (13.26%), property insurance (6.63%), business interruption insurance (5.73%), health insurance insurance (5.73%), and health insurance (4.34% year-on-year). ), and health insurance coverage (3.77%).

Meanwhile, other business remained at a low level, such as credit and financial risks (down 11.2%), motor insurance (down 6.25%), and surety insurance (down 6.05%).

Overall, Vietnam’s insurance market remains highly concentrated among the “big five” non-life insurers. They are Bao Viet (15.13%), PVI Insurance (14.02%), PTI (9.87%), Bao Minh (7.60%) and Mic (6.65%). 27 other non-life insurers and branches of foreign non-life insurers in Vietnam contributed 46.72% of premium income.

According to CRI’s research, in 2022, Vietnam’s insurance industry will have a total premium income of about VND246 trillion (about US$10.5 billion), an increase of about 15% from 2021. Of this, non-life insurance premium revenue is about VND67.6 trillion (about $2.88 billion) and life insurance sector revenue is about VND178.3 trillion ($7.62 billion).

As Vietnam’s economy grows, so does the insurance awareness of its residents.CRI expects Vietnam’s insurance premium income to reach US$37.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 13.3% from 2023 to 2032.

For investors, there are plenty of investment opportunities in Vietnam’s insurance sector.

Topics covered:

• Overview of the insurance industry in Vietnam
• Economic and policy environment of the insurance industry in Vietnam
• What is the impact of COVID-19 on the insurance industry in Vietnam?
• Vietnam Insurance Industry Market Size, 2023-2032
• Analysis of major Vietnamese insurance industry producers
• Key Drivers and Market Opportunities in Vietnam’s Insurance Industry
• What are the key drivers, challenges and opportunities for the insurance industry in Vietnam during the forecast period 2023-2032?
• Which are the key players in the Vietnam insurance industry market and what are their competitive advantages?
• What is the expected revenue of Vietnam insurance industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Vietnam insurance industry market is expected to dominate the market by 2032?
• What are the main unfavorable factors facing the insurance industry in Vietnam?

Related reports:

• Malaysia Insurance Industry Research Report 2023-2032
• Indonesia Insurance Industry Research Report 2023-2032
• Research Report on Southeast Asia Insurance Industry 2023-2032

Table of Contents

1. Overview of Vietnam

1.1 Geographical Situation

1.2 Demographic Structure of Vietnam

1.3 Economic Situation in Vietnam

1.4 Minimum Wage in Vietnam, 2013-2022

1.5 Impact of COVID-19 on Vietnam’s Insurance Industry

2. Overview of the Insurance Industry in Vietnam

2.1 History of Insurance Development in Vietnam

2.2 FDI in Vietnam’s Insurance Sector

2.3 Policy Environment of the Insurance Industry in Vietnam

3. Number of Participants in the Vietnamese Insurance Market

3.1 Overview

3.2 Breakdown by Type of Insurance

4. Total Premiums Written in the Vietnamese Insurance Market

4.1 Overview

4.2 Breakdown by Type of Insurance

4.3 Breakdown by Insurer

5. Insurance Rates in Vietnam’s Insurance Market

5.1 Overview

5.2 Premium Rates for Life Insurance

5.3 Property Insurance Premium Rates

6. Insurance Claims in the Vietnamese Insurance Market

6.1 Summary of Amounts Claimed

6.2 Number of Life Insurance Policies in Force

7. Competition in the Vietnamese Insurance Industry Market

7.1 Barriers to Entry in Vietnam’s Insurance Industry

7.1.1 Brand Barriers

7.1.2 Quality Barriers

7.1.3 Capital Barriers

7.2 Competitive Structure of the Vietnamese Insurance Industry

7.2.1 Bargaining Power of Insurance Suppliers

7.2.2 Consumer Bargaining Power

7.2.3 Competition in the Vietnamese Insurance Industry

7.2.4 Potential Entrants in the Insurance Industry

8. Analysis of Major Insurance Companies in Vietnam

8.1 Bao Viet Insurance Corporation (Bao Viet)

8.1.1 Corporate Profile of Bao Viet Insurance Corporation (Bao Viet)

8.1.2 Insurance Operations of Bao Viet Insurance Corporation (Bao Viet)

8.2 Bao Minh Insurance Corporation (Bao Minh)

8.2.1 Bao Minh Insurance Corporation (Bao Minh) Corporate Profile

8.2.2 Bao Minh Insurance Corporation (Bao Minh) Insurance Operations

8.3 Petrolimex Insurance Corporation (Pjico)

8.3.1 Petrolimex Insurance Corporation (Pjico) Corporate Profile

8.3.2 Petrolimex Insurance Corporation (Pjico) Insurance Operations

… (Continuing for other companies)

9. Vietnam Insurance Industry Outlook 2023-2032

9.1 Analysis of Factors for the Development of the Insurance Industry in Vietnam

9.1.1 Driving Forces and Development Opportunities for the Insurance Industry in Vietnam

9.1.2 Threats and Challenges to Vietnam’s Insurance Industry

9.2 Forecast of the Number of Insured Persons in the Vietnamese Insurance Industry

9.3 Forecast of Insurance Premium Rates in the Vietnamese Insurance Market

9.4 Forecast of Underwriting Costs in the Vietnamese Insurance Industry

The post Vietnam Insurance Industry Research Report 2023-2032 first appeared on CRI Report.

Commercial buses are an important means of transportation for carrying large numbers of passengers and their belongings, and are a type of commercial vehicle that operates within and between cities. With its large population and vast area, Vietnam has a high demand for commercial buses in metropolitan areas or in rural areas with poor infrastructure.

Vietnam has a well-developed tourism industry that attracts millions of tourists every year to visit the country. Bus travel is a popular and affordable way to see Vietnam, and with buses connecting most of the major towns and cities, it is very convenient for tourists and the demand for road passenger transportation is growing. With the economic development of the region, increased investment in infrastructure development, and the gradual improvement of highway conditions, Vietnam’s bus industry has great potential for future development.

In 2022, Vietnam received only 3.6 million tourists, about 18% of the 19 million tourists before the Covid-19 pandemic. As the economy recovers and tourism gradually recovers, CRI expects Vietnam’s visitor arrivals to grow rapidly in 2023.

From 2018 to 2022, Vietnam’s bus sales volume shows a general trend of first decline and then increase, with a CAGR of -22.19% from 2018 to 2022, and a 70.05% year-on-year decrease in sales in 2020, which is the largest five-year decline in the past.In 2022, Vietnam’s bus sales volume for the whole year was 3,830 units, an increase of 87.75% year-on-year.

In December 2021, Vietnam’s first electric bus was officially put into service in the city of Hanoi, which will invest about VND21 trillion ($887.27 million at the current exchange rate) over the next few years in replacing all gasoline- and diesel-powered buses with electric alternatives, according to an analysis by CRI. Vietnam’s vinbus, a manufacturer of electric buses, said the number of buses replaced by electric buses in Hanoi will reach 225 by 2025, accounting for 21.3 percent of the total.

Under the Government Action Plan for Green Energy Transition and Reduction of Carbon and Methane Emissions, the Vietnamese government aims to have 100 percent of new public transit buses powered by electricity or green energy from 2025; at least half of all vehicles and all new cabs will be powered by electricity or green energy from 2030; and 100 percent of all buses and cabs will be powered by electricity or green energy by 2050.

With the recovery of Vietnam’s tourism industry, the continued growth of the passenger transportation sector, and the gradual replacement of fuel buses by electric buses, CRI expects Vietnam’s bus sales to reach 25,900 units by 2032, growing at a compound annual growth rate (CAGR) of 13.2% over the 2023-2032 period.

CRI suggests that for foreign-funded bus brands, they can initially enter the Vietnamese market through whole-vehicle export, or CKD, and if they get better results in the Vietnamese market, they can consider setting up their own factories in Vietnam, or looking for local partners to set up joint-venture factories in Vietnam.

Topics covered:

• Overview of the bus industry in Vietnam
• Economic and policy environment of the bus industry in Vietnam
• What is the impact of COVID-19 on the bus industry in Vietnam?
• Vietnam Bus Industry Market Size, 2023-2032
• Analysis of Major Vietnamese Bus Industry Manufacturers
• Key Drivers and Market Opportunities in Vietnam Bus Industry
• What are the key drivers, challenges and opportunities for the bus industry in Vietnam during the forecast period 2023-2032?
• Which are the key players in the Vietnam Bus Industry market and what are their competitive advantages?
• What is the expected revenue of Vietnam Bus Industry market during the forecast period of 2023-2032?
• What strategies have been adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Vietnam Bus Industry market is expected to dominate the market by 2032?
• What are the major unfavorable factors facing the bus industry in Vietnam?

Table of Contents

1. Overview of Vietnam

1.1 Geographical Situation

1.2 Demographic Structure of Vietnam

1.3 Economic Situation in Vietnam

1.4 Minimum Wage in Vietnam, 2013-2022

1.5 Impact of COVID-19 on the Bus Industry in Vietnam

2. Overview of the Bus Industry in Vietnam

2.1 History of Bus Development in Vietnam

2.2 FDI in Vietnam’s Bus Industry

2.3 Policy Environment of Vietnam’s Bus Industry

3. Supply and Demand Situation of the Bus Industry in Vietnam

3.1 Supply Situation of the Bus Industry in Vietnam

3.2 Demand Situation in Vietnam’s Bus Industry

3.2.1 Total Passenger Traffic

3.2.2 Number of Visitors

3.2.3 Public Transportation Needs

4. Import and Export Situation of Vietnam’s Bus Industry

4.1 Imports into the Vietnamese Bus Industry

4.2 Vietnam’s Bus Industry Exports

5. Revenue and Cost Analysis of Vietnam Bus Industry

5.1 Revenue Analysis of Vietnam Bus Industry

5.1.1 Total Revenue of the Bus Industry in Vietnam

5.1.2 Bus Fares in Vietnam

5.2 Cost Analysis of Vietnam Bus Industry

6. Market Competition in Vietnam Bus Industry

6.1 Entry Barriers for Vietnam Bus Industry

6.1.1 Brand Barriers

6.1.2 Quality Barriers

6.1.3 Capital Barriers

6.2 Competitive Structure of the Bus Industry in Vietnam

6.2.1 Bargaining Power of Suppliers of Passenger Cars

6.2.2 Consumer Bargaining Power

6.2.3 Competition in the Vietnamese Bus Industry

6.2.4 Potential Entrants in the Bus Industry

6.2.5 Alternatives to Buses

7. Analysis of Major Bus Companies in Vietnam

7.1 Hoang Long Bus

7.1.1 Hoang Long Bus Company Profile

7.1.2 Hoang Long Bus Operations

7.2 Sinh Cafe Bus

7.2.1 Sinh Cafe Bus Corporate Profile

7.2.2 Sinh Cafe Bus Operations

7.3 Phuong Trang FUTA Bus

7.3.1 Phuong Trang FUTA Bus Company Profile

7.3.2 Phuong Trang FUTA Bus Operation Status

7.4 Mai Linh Bus

7.4.1 Mai Linh Bus Company Profile

7.4.2 Mai Linh Bus Operations

7.5 VinBus

7.5.1 VinBus Corporate Profile

7.5.2 VinBus Operation Status

8. Vietnam Bus Industry Outlook, 2023-2032

8.1 Analysis of Factors for the Development of the Bus Industry in Vietnam

8.1.1 Driving Forces and Development Opportunities for the Bus Industry in Vietnam

8.1.2 Threats and Challenges Facing Vietnam’s Bus Industry

8.2 Vietnam Bus Industry Supply Forecast

8.3 Vietnam Bus Market Demand Forecasts

8.4 Import and Export Forecast for Vietnam Bus Industry

8.5 Vietnam Bus Industry Revenue Forecast

The post Vietnam Bus Industry Research Report 2023-2032 first appeared on CRI Report.