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2-Wheeler Fuel Tank Market – Growth, Trends, and Forecast (2019 – 2024)
| Automotive | Published by: Mordor Intelligence | Market: Global |
| 106 pages | Published: 28-06-2019 |
- Automotive
- Mordor Intelligence
- Global
- 106 pages
- Published: 28-06-2019
Market Overview
The 2-wheeler fuel tank market is expected to reach a value of USD 4,030 million by 2024, at an estimated CAGR of 3.46%, during the forecast period, 2019 – 2024.
Motorcycles are considered to be a convenient alternative to public transportation (which is often unreliable and overcrowded) as they are an easy mode of transportation for reaching destinations during road congestions.
One of the major factors driving the growth of the market is the increasing production rate of 2-wheelers in India, China, and ASEAN countries. However, factors, such as the growing penetration and demand for electric motorcycles, and enactment of stringent emission norms, may hinder the growth of the market.
Scope of the Report
The 2-wheeler fuel tank market study covers less than 20 liters fuel tank and more than 20 liters fuel tank.
Key Market Trends
The Less than 20 liters Fuel Tank segment Dominated the Market
The less than 20-liter fuel tank segment of the market was valued at USD 3,239.66 million in 2018.
Globally, more than 98% of motorcycles have less than 20-liter fuel tank capacity. The motorcycles with less than 20-liter fuel tank have huge demand, as they are affordable and have a very low maintenance cost. Apart from the maintenance and affordability factor, these motorcycles give higher mileage than the premium bikes, due to which, 98% of the population buys these motorcycles. As the demand for this tank is high, 2-wheeler manufacturers are launching a maximum number of new and updated models under this segment. For instance –
– In November 2018, KTM launched 125 Duke ABS, powered by the 124.7cc engine, in India. The bike weighs 148 kg and comes with a 10.2-liter fuel tank.
– In June 2018, one of the oldest Italian motorcycle manufacturers, Benelli, launched “Leoncino”. It is powered by a 499.6cc, liquid-cooled, and fuel-injected, parallel-twin that produces 49.6hp at 8,500rpm and 45Nm at 5,000rpm. The bike has a 13.5-liter fuel tank.
– In March 2018, Hero Moto Corp. Ltd commenced retail sales of the new Passion PRO and Passion XPRO. The new Passion PRO has a BS-IV compliant 110cc engine, with a fuel tank capacity of 12.5 liters, producing a power output of 7.0 kW at 7500 rpm and torque of 9.0 Nm at 5500 rpm.
The motorcycle market is dominated by Asian countries, such as India, China, Pakistan, Indonesia, Vietnam, etc., and these countries are likely to maintain their dominance over the coming years. Buyers in these countries are highly interested in purchasing pocket-friendly motorcycles, which majorly falls under the segment for less than 20-liter fuel tank. Owing to the aforementioned factors, the segment is anticipated to grow over the forecast period.
Asia-Pacific is Expected to be the Fastest Growing Region
Asia-Pacific dominates the market and the region is expected to witness the fastest growth rate during the forecast period.
In the Asia-Pacific region, India is the biggest market for 2-wheeler fuel tank and the country accounted for 42.82% of the regional market, followed by China. The Indian motorcycle market is the largest in the world, since 2016. With the social advancement of women and growing demand for comfort and convenience, demand for scooters has been continually increasing, as they help riders in keeping their legs together, rather than straddling. Additionally, the premium price market segment for mid and large-sized motorcycles is also expanding, owing to a growing demand for high-performance and cruiser bikes.
However, in China, the production volume has been declining for years, and it went below 15 million units in 2016. However, in 2017, the production volume witnessed a slight recovery to 15.09 million units. According to the China Association of Automobile Manufacturers, in January 2019, the production and sales of motorcycles continued to drop, with a significant decline in production and sales year-on-year, owing to factors, such as not-so-developed motorcycle culture and rivalry with low-end Chinese cars, amongst others.
Competitive Landscape
The 2-wheeler fuel tank market is highly fragmented, with local and unlisted players occupying more than 80% of the market share.
Goshi Giken, JBM group, Wuxi Zhengda Enterprise, etc. are some of the major players in the market. Companies, such as Harley Davidson and Royal Enfield, design and manufacture motorcycles and their respective fuel tanks within their own plants, with only custom orders being outsourced to aftermarket suppliers. Most of the 2-wheeler fuel tank manufacturing companies are concentrated in the Asia-Pacific region. Expansion of manufacturing plants and collaborations are the major characteristics of this market.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Capacity
5.1.1 Less than 20 liters
5.1.2 More than 20 liters
5.2 Geography
5.2.1 North America
5.2.1.1 US
5.2.1.2 Canada
5.2.1.3 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 UK
5.2.2.3 France
5.2.2.4 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 India
5.2.3.3 Pakistan
5.2.3.4 Rest of Asia-Pacific
5.2.4 Rest of the World
5.2.4.1 South America
5.2.4.2 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 JBM Group
6.3.2 Luxam DK Jain Group
6.3.3 Goshi Giken Group
6.3.4 Homda Plastics
6.3.5 AG Industries
6.3.6 Wuxi Zhengda Enterprise
6.3.7 Walbro LLC
6.3.8 Harley Davidson
6.3.9 Royal Enfield
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 DISCLAIMER
MARKET SEGMENTATION
By Capacity
Less than 20 liters
More than 20 liters
Geography
North America
US
Canada
Rest of North America
Europe
Germany
UK
France
Rest of Europe
Asia-Pacific
China
India
Pakistan
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa
ASEAN Commercial Vehicles Market – Growth, Trends, and Forecast (2019 – 2024)
| Automotive | Published by: Mordor Intelligence | Market: ASEAN |
| 96 pages | Published: 17-06-2019 |
- Automotive
- Mordor Intelligence
- ASEAN
- 96 pages
- Published: 17-06-2019
Market Overview
The ASEAN commercial vehicles market (henceforth, referred to as the market studied) was valued at USD 45.85 billion in 2018, and it is anticipated to register a CAGR of about 4.41% during the forecast period (2019 – 2024).
The ASEAN countries witnessed a strong demand for heavy trucks and machinery, with the largest construction project pipeline, globally, with approximately USD 4.9 trillion worth of projects. Exports of heavy machinery, including trucks, from Singapore to the rest of the ASEAN region have grown steadily over the years. These exports are supported by the investments in construction projects in the ASEAN region.
Key developments in the market studied include product launches from significant manufacturers. In 2018, Mercedes-Benz launched AXOR 2528 R, IVECO launched the series 682 variant 4×2, Isuzu Astra Motor launched the new Isuzu GIGA truck, and Suzuki Indomobil Motor launched the facelift version of Mega Carry.
Some of the major players in the market studied are Toyota, Isuzu, Mitubishi, Hino, and Ford. In 2017, Toyota Motors dominated the ASEAN commercial vehicles market, with a market share of 35%, followed by Isuzu with a market share of 21%. The other players in the market studied include Daimler, TATA Motors, BAIC, and UD Trucks.
Scope of the Report
The ASEAN commercial vehicles market covers all the policies, initiatives and investment done by the governments and vehicle manufacturers across the world. The scope of the report includes:
Key Market Trends
Light Commercial Vehicle Segment is Leading the ASEAN Commercial Vehicles Market
The light commercial vehicles segment of the market studied was valued at USD 42.94 in 2018 and is expected to witness the fastest growth rate during the forecast period.
Under the light commercial vehicles (LCVs) segment, vehicles with a gross vehicle weight rating less than 16 metric ton have been considered, which includes pickup trucks, vans, light and medium trucks, and mini buses. Pickup trucks covered the highest share, covering more than 60% of LCVs sales in the ASEAN region in 2017, and continued to be the highest in the LCV segment during 2018, as well. Thailand, Indonesia, Malaysia, and Vietnam were the major ASEAN countries with high demand for pickup trucks, in 2017. However, during 2018, Vietnam’s pickup truck sales declined, due to the country’s implementation of stringent checks on imported vehicles, which resulted in import halt from neighboring countries, majorly from Thailand, Indonesia, and Japan, during first half of 2018.
Major players, such as Toyota, Isuzu, Mitsubishi, and Hino covered nearly more than 60% of the LCV segment of the market studied during 2017 and 2018. During the forecast period, the sales of LCVs are likely to continue to grow, owing to the following instances in the ASEAN countries, as automotive players in Thailand have geared their production plans in the coming years to capture the growing demand for light commercial vehicles across the ASEAN countries during the forecast period.
New models of LCVs have been significantly introduced in the ASEAN countries by the automobile manufacturers during 2018, to sustain in a highly competitive market, as well as to cater the growing demand for advanced vehicle features among the customers in the ASEAN countries.
Geography Trends
At present, Thailand is the market leader and it is likely to continue its lead in the ASEAN commercial vehicles market. Thailand is the biggest manufacturer in the region, and is planning to raise its annual production to 3.5 million units by 2025. The country faces competition from Indonesia, which has a goal of becoming the leading production hub. At present, the demand for commercial vehicles is declining in Vietnam, due to the new rule that came into effect (Vietnam finally eliminated its import tariff for automobiles from within the ASEAN countries from 30% on Jan, 1 2018). As a result, Toyota Motor and Honda Motor have stopped their exports to Vietnam since the beginning of the year, following the implementation of a rule that requires stringent checks on imported vehicles. The sales of commercial vehicles, such as trucks and buses, dropped by 16% to 23,364 units.
Singapore is a highly-developed free economy, with some of the positive factors being open and corruption-free business, followed by transparent legal frame work and many more. The construction sector (primarily buildings in the country) exhibited slow growth in the first quarter of 2017. Though new building construction activities were active in the past few years, they exhibited slow growth in the recent past. The decrease is mainly due to the downfall in contract prices.
Competitive Landscape
Some of the key players of the ASEAN commercial vehicles market are Toyota Motor Corporation, ISUZU, Mitsubishi Motor Corporation, and Hino Motors. The market studied is highly driven with factors, like joint-venture, partnerships, and growing demand of the industrial sectors and government’s development initiatives across the ASEAN countries. Product expansion facilities, free trade agreement within the countries, growing logistics, e-commerce, and construction sectors are the factors responsible for the increase in the respective market shares of key players in the region.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Technological Trends
4.6 Government Regulations
4.7 Emission Regulations
5 MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Light Commercial Vehicles
5.1.2 Heavy-duty Commercial Vehicles
5.2 Geography
5.2.1 ASEAN Countries
5.2.1.1 Indonesia
5.2.1.2 Malaysia
5.2.1.3 Singapore
5.2.1.4 Thailand
5.2.1.5 Vietnam
5.2.1.6 Philippines
5.2.1.7 Rest of ASEAN Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Isuzu Motors Ltd
6.2.2 Mitsubishi Motor Corporation
6.2.3 Honda Motor Company
6.2.4 Daihatsu Motor Co. Ltd
6.2.5 Ford Motor Company
6.2.6 Toyota Motor Corp.
6.2.7 Scania
6.2.8 Fiat Chrysler Automobiles
6.2.9 Hyundai Automobiles
6.2.10 IVECO (Industrial Vehicles Corporation)
6.2.11 Hino Motors Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 DISCLAIMER
MARKET SEGMENTATION
By Vehicle Type
Light Commercial Vehicles
Heavy-duty Commercial Vehicles
Geography
ASEAN Countries
Indonesia
Malaysia
Singapore
Thailand
Vietnam
Philippines
Rest of ASEAN Countries
Construction Equipment Rental Market Size‚ Segmented by Vehicle Type (Earth Moving Equipment, Material Hnadling), Drive Type (IC, Hybrid Drive), and Geography ‚ Growth, Trends, and Forecast (2019 – 2026)
| Automotive | Published by: Mordor Intelligence | Market: Global |
| 160 pages | Published: 11-06-2019 |
- Automotive
- Mordor Intelligence
- Global
- 160 pages
- Published: 11-06-2019
Market Overview
The global construction equipment rental market is expected to reach USD 174.52 billion by 2026, registering a CAGR of 5.06%, during the forecast period (2019-2026). Some of the major factors driving and restricting the growth of the market are as follows:
One of the major factors driving the growth of the market is the growing construction industry, especially in developing countries, owing to numerous growth opportunities in infrastructure, residential, and non-residential sectors. For instance, the rise in construction of multi-family houses (with the growing trend of nuclear families), and increasing investments in construction of roads, highways, smart cities, metros, bridges, and expressways due to growing population and urbanization.
The growing trend toward automation is expected to drive the growth of the market.
However, factors such as stringent emission regulations for construction machinery are expected to hinder the growth of the market.
Scope of the Report
Key Market Trends
The Excavators Sub-segment is Expected to Dominat the Earthmoving Equipment Segment
The excavators sub-segment in the global construction equipment rental market was valued at USD 28.07 billion in 2018.
Excavators are typically of two types, namely wheeled excavators and crawler excavators. Among them, crawler excavators occupied a major share of more than 70% of the global excavator rental market in 2017.
As most rental companies purchased low-cost crawler excavators over high cost wheeled excavators, because the former equipment offered high stability for digging operations on rough or uneven terrains, compared to that of wheeled excavators.
However, the operating cost of wheeled excavators have been less compared to that of crawler excavators, as the wearing out of crawlers’ undercarriages and their replacing or refurbishing are an expensive and time-consuming task. Thus, some regions have started to adopt wheeled excavators in construction projects since 2010.
Europe ranks the highest in the usage of wheeled excavators compared to the United States. As most of the work done in Europe takes place in urbanized areas, while in the United States work projects majorly included clearing land and digging.
While, in Asia-Pacific and Middle-East & Africa, the usage of excavators covered more than 55% of the total construction equipment rental demand during 2015-2017. In the above regions, a majority of the excavators used were crawler-types and very few operations in construction job sites preferred wheeled excavators, especially compact wheeled excavators.
With growing infrastructure developments across the globe, the need for excavators was evident in almost every construction project. Thus, many rental companies across the globe continuously invest in purchasing new excavators to keep the average age of its excavator fleet at a potential of 2 to 3 years, to satisfy a wide customer demand, who are looking for advanced and efficient excavators.
For instance, Theisen Baumaschinen Mietpark GmbH & Co KG, one of the leading construction equipment rental companies in Germany, has recently purchased 32 new wheeled (12 units) and crawler excavators (20 units) from Doosan in 2018, to strengthen its rental equipment fleet for regional Theisen centers across Germany and in Vienna (Austria).
Asia-Pacific is Expected to Dominate the Construction Equipment Rental Market
The Asia-Pacific construction equipment rental market dominated the global market, with a market share of 36.70% in 2018.
Asia-Pacific is one of the largest markets that witnessed a boom in construction and infrastructural development, because of the growing emphasis by governments on developing infrastructure for a sustainable economy. This region has witnessed growth in the number of Special Economic Zones (SEZs), airports, metro construction, highway constructions, dams, hydroelectric projects, etc., in order to sustain high-level industrial activities, better connectivity, and growing energy demand. As a result, many international players are beginning to invest, and are setting up manufacturing facilities and distribution centers in the region to meet the growing demand and to capture the regional market. Construction machinery manufacturers, such as Liebherr, Caterpillar, Hitachi, and Sumitomo Corporation, offering rental services now face intense competition from numerous domestic and regional players, owing to competitive pricing and the availability of technologically advanced equipment.
Competitive Landscape
The global construction machinery market is characterized by the presence of numerous domestic and regional players, resulting in a highly fragmented market environment. The eleven international and regional players in the market account for 13% of the market share and the remaining 87% of the market share is dominated by other players (domestic or regional players). The market is highly driven by mergers & acquisitions and joint venture activities.
The rivalry among various machinery/equipment rental firms is high, as major players are trying to establish their footprint in developing countries, in order to grab a share in the growing market in Asia-Pacific and South American regions. The industry is highly competitive, because of limited diversity in the services offered under the construction equipment category.
Note – The complete report includes market share details of other companies not shown here.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction to Market Drivers and Restraints
4.2 Market Drivers
4.3 Market Overview
4.4 Market Restraints
4.5 Porter’s Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Technology Trends (Including Autonomous and Connected Equipment Trends)
5 MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Earthmoving Equipment
5.1.1.1 Backhoe
5.1.1.2 Loaders
5.1.1.3 Excavators
5.1.1.4 Other Earthmoving Equipment
5.1.2 Material Handling
5.1.2.1 Cranes
5.1.2.2 Dump Trucks
5.2 By Drive Type
5.2.1 IC Engine
5.2.2 Hybrid Type
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific (including ASEAN Countries)
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 UAE
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Companies Market Share Analysis
6.1.1 Introduction
6.1.2 Market Share
6.2 Company Profiles
6.2.1 Cramo Plc
6.2.2 HSS Hire Group Plc
6.2.3 Herc Rentals Inc.
6.2.4 CNH Industrial
6.2.5 Liebherr International AG
6.2.6 Caterpillar
6.2.7 Sumitomo Corp.
6.2.8 Hitachi Construction Machinery (Hitachi Group)
6.2.9 Ashtead Group Plc
6.2.10 Kanamoto Co. Ltd
6.2.11 H&E Equipment Services Inc.
6.2.12 Ramirent plc
6.2.13 Loxam
6.2.14 United Rentals Inc.
7 Market Opportunities and Future Trends
8 Price Variation Analysis of Construction Rental Equipment
9 Analysis on Replacement Rate of Construction Rental Equipment
10 Disclaimer
MARKET SEGMENTATION
By Vehicle Type
Earthmoving Equipment
Backhoe
Loaders
Excavators
Other Earthmoving Equipment
Material Handling
Cranes
Dump Trucks
By Drive Type
IC Engine
Hybrid Type
Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific (including ASEAN Countries)
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
South Africa
Rest of Middle East & Africa
Hyperloop Technology Market Size – Segmentation by System Type (Capsule, Tube, Propulsion System, Others), Carriage Type (Passenger, Cargo/Freight), and by Geography – Growth, Trends, and Forecast (2022 – 2030).
| Automotive | Published by: Mordor Intelligence | Market: Global |
| 75 pages | Published: 11-06-2019 |
- Automotive
- Mordor Intelligence
- Global
- 75 pages
- Published: 11-06-2019
Market Overview
The global hyperloop technology market (henceforth referred to as the market studied) was valued at USD 1,870 million in 2022, and is anticipated to register a CAGR of about 23.25% during the forecast period (2022 – 2030).
Hyperloop is a concept for very high-speed, fixed-guideway, intercity surface transportation, using capsule-like vehicles that operate in sealed partial-vacuum tubes. At this stage, the technology is unproven, but it has elicited a great deal of interest from journalists, investors, engineering firms, and government organizations.
The various hyperloop proponents make much of the idea that hyperloop would be completely powered by solar technology. While that is certainly not true of air travel, both maglev and HSR are electrically powered and could be powered by solar, if desired. It is not clear how much energy would be needed to operate hyperloop, but most routes would be two to three times more energy efficient than air travel per passenger mile.
Scope of the Report
Hyperloop is expected to be the fifth mode of transport in the future. At present, hyperloop is in a development stage, and a number of companies have started testing this technology. The scope of the study covers segmentation by system type and by carriage type. The system type segmentation includes capsule, tube, propulsion system and other systems while the carriage type includes passenger and cargo/freight.
Key Market Trends
Tube Segment is anticipated to Lead the Market
The tube segment is anticipated to lead the market in the system type segmentation. Tube is a tunnel or an encapsulated pathway or track, where hyperloop pod travels. The tube is contained with near vacuum pressure to reduce the air drag on capsule motion. The near vacuum atmosphere in the tube is controlled by installing vacuum/pressure/evacuating pumps at regular intervals along the tube length and maintaining a pressure of around 5 to 6 pounds per square inch. Currently, these tubes are made of steel. Hyperloop tubes would be either constructed above or below the ground, occupying a smaller area than a traditional rail or road. Above the ground tubes are supported by pylons, and each tube is welded or bolted together in a side by side configuration, which allows the capsule/pod to travel in both directions. So far the constructed hyperloop tubes are above the ground due to the following benefits:
Tube erection on pillars above the ground provided benefits of saving money, provision of protection from earthquakes, snowfall, and rainfall, and allowed the installation of solar panels on top of the tube.
The energy obtained from these solar panels is used to satisfy the operational need of the hyperloop, as power generated through the solar panels is much more than the power consumed by propulsion and evacuating pumps. Additionally, the solar energy can be stored in battery packs for operation during cloudy and rainy conditions, and during nights.
In 2018, the third hyperloop test track was noticed under construction. Hyperloop Transportation Technologies (HyperloopTT) has started assembling its tubes for constructing a 1-kilometer-long test track near its R&D center in France.
Asia-Pacific is leading the Hyperloop Technology Market
Asia-Pacific is likely to lead the hyperloop technology market, globally. China is expanding its transportation network rapidly and trying to bring down the costs related to freight hauling. Being a developing country, China spends about 15% of its GDP on logistics, which makes it incompetent compared to the West, where the average stands at around 10%-12% of the GDP. Hyperloop technology can transport goods at a fraction of the time taken by conventional road or rail transport. India is inviting companies from other countries to come to India to transform the hyperloop technology inrealitylty. Asia-Pacific is followed by Europe. The United Kingdom shows a tremendous potential for the implementation of hyperloop system, as the country’s current transportation systems are operating beyond the capacity. This is because of London being a congested city, with over one million people travelling across central London each working day, increasing its daytime population six times.
Competitive Landscape
Some of the key players of the global hyperloop technology market are Hyperloop Transportation Technologies, Hyperloop One, Space Exploration Technologies Corp.,Transpod Inc., and Tesla.Inc., among others. The market is highly driven by factors, like partnerships with start-ups, land availability, and governments’ interest across the world. Virgin Hyperloop one captures majority of the market share, owing to the higher concentration of projects with multiple countries, followed by Hyperloop Transportation Technology. In addition, the company is working on the underground hyperloop system across cities like New York, Washington DC, etc. upon agreement in 2017, and is planning to capture significant market share by attracting higher number of investments.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By System Type
5.1.1 Capsule
5.1.2 Tube
5.1.3 Propulsion System
5.1.4 Other System Types
5.2 By Carriage Type
5.2.1 Passenger
5.2.2 Cargo/Freight
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Company Profiles
6.2.1 Hyperloop Transportation Technologies
6.2.2 Hyperloop One
6.2.3 Transpod Inc.
6.2.4 Dinclix GroundWorks
6.2.5 Hardt Global Mobility
6.2.6 Zeleros Hyperloop
6.2.7 Hyper Chariot
6.2.8 Tesla Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By System Type
Capsule
Tube
Propulsion System
Other System Types
By Carriage Type
Passenger
Cargo/Freight
Geography
North America
Europe
Asia-Pacific
Rest of the World
Vietnam Taxi Market – Segmented by Service Type, Vehicle Type (IC, Hybrid Drive), and City – Growth, Trends, and Forecast (2018-2023)
| Automotive | Published by: Mordor Intelligence | Market: Việt Nam |
| Unknown | Published: 25-06-2019 |
- Automotive
- Mordor Intelligence
- Việt Nam
- pages
- Published: 25-06-2019
Market Overview
The Vietnamese taxi market is expected to project a CAGR of 14.89%, during the forecast period, 2019-2024.
The demand for ride-hailing services through technology application has been increasing continuously, after the implementation of pilot program Decision No. 24/QD-BGTVT, in January 2016, by Ministry of Transport (MoT) in Vietnam. Reduced taxi fare and ease of booking through mobile app are the major factors that driven the modern taxi service to capture a major share of the Vietnamese taxi market.
However, still vehicle booking through phone calling and hailing on streets, continues to operate as a major service among popular brands of taxi firms, like Mai Linh, Vinasun, Vinataxi, TaxiGroup, Hoang Long etc., and thus, the traditional taxi service had acquired a major share of the Vietnamese taxi market.
Among more than 200 taxi firms, the major taxi firms, namely Vinasun and Mai Linh are the major player of the Vietnamese taxi market. However, the entrance of Uber and Grab has affected the business of these players in the country.
Scope of the Report
Traditionally, a taxi or cab is defined as a vehicle for hire with a driver, used by a single or small group of passengers, often for a non-shared ride. However, with the development of new technology and developments in taxi services, the traditional definition of a taxi has evolved.
The Vietnamese taxi market has been segmented by service, vehicle type, and city.
Key Market Trends
Increasing Passenger Traffic is Driving the Ride-hailing Industry
In the new era of technology, Grab, and Uber are beating traditional taxis with just the click of a button. The demand for app-based taxi services is rapidly growing in Vietnam, which is hindering the growth of traditional taxi demand in the country. Easy registration and flexible working hours have drawn over 50,000 cab drivers to work for Uber and Grab in Vietnam, with many leaving traditional taxi firms in search of a better living. For instance; in 2017, Vinasun, Vietnam’s biggest traditional taxi operator lost 8,000 drivers, which is almost half of its employees, whereas its rival Mai Linh Taxi also lost 6,000 drivers.
The major taxi company Mai Linh has witnessed the lowest business profits in last five years. Another significant player, Vinasun has reported an approximately 50% drop in profit in 2017 due to the growing use of app-based taxis. According to Mai Linh, the company lost nearly VND 84 billion (USD 3.7 million) in 2016 after making a profit of VND 325 million in 2015. In 2017, Vinasun’s gross profit was VND 205 billion, down 48% from 2016. The main reason behind these losses were robust competition and unfair taxation. For instance; Uber was paying a 3% value-added tax, whereas traditional taxi firms have to pay a 10% VAT and 20% corporate income tax. At present Uber keeps 20% revenue for a ride and pays 80% to the driver, which is why drivers are shifting from traditional to app-based taxi companies.
The app-based companies, such as Uber and Grab, got support from the public, as people said they were unhappy with inadequate and unreliable services provided by traditional taxi firms, such as drivers refusing to serve short distance or failing to show up regardless of clients’ booking.
Cities that are Leading the Taxi Market in the Country
The demand for taxis in the country is growing from every corner, however, Ho Chi Minh City is leading the Vietnam taxi market, followed by Hanoi and other cities.
Ho Chi Minh has also experienced taxi vehicles surge on the city roads under the ride-hailing pilot program. By the end of 2017, the city taxi firms had fallen from 36 in 2010 to ~20. As of 2017, the number of taxicabs running in the city reached nearly 36,900, which included 8,900 unit of traditional taxi cabs (as of 2010, nearly 12,000 traditional taxis were operated, but the arrival of Uber and Grab resulted in cutting down ~3,000 traditional taxies in the city by 2017) and 28,000 units of modern taxi cabs (majorly operated by Uber and Grab companies). The overall taxicab number is anticipated to exceed the limit, i.e. ~14,500 by 2020 and ~16,500 by 2025, as stated under the city’s taxi management plan. Thus, similar to Hanoi city, the Department of HCMC Transportation has stopped licensing of new taxicab under the pilot program and further taxi fleet expansion by traditional taxi firms. Among taxi firms in the HCMC, Vinasun is the leading company that has covered a major market share of nearly half of the HCMC’s taxi market during 2014-2016. However, the overall revenue of the company has been slashing down, since the arrival of Uber and Grab in 2014, and by 2017, the company captured ~40% of the HCMC’s taxi market.
Hanoi market has been highly dominated by nearly 80 taxi firms. Among them, Mai Linh and TaxiGroup (operates two brands namely Taxi CP and Taxi Hanoi) are popularly used taxis in Hanoi city. While, Mai Linh holds the largest taxi fleet in Vietnam, with nearly 15,000 taxi cabs, where approximately 9,000 taxis running in Hanoi, and 6,000 in other cities of Vietnam.
Competitive Landscape
In 2018, Vinasun Corp. dominated the taxi market, followed by Grab, and Mai Linh Group. Both, Vinasun Corp. and Mai Linh witnessed a consistent decline in revenue. However, Vinasun Corp. is still accounting for a major share in the market, owing to its presence, of more than a decade, in the taxi industry.
In 2018, after Uber withdrew from the country, the domestic ride hailing market witnessed intense competition, with new brands, such as FastGo and Go-Jek entering the market, along with the renovation of old brands, such as Vinasun and Mai Linh.
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Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Service Type
5.1.1 Traditional Taxi Service (Offline Hailing)
5.1.2 Modern Taxi Service (Online Hailing and Sharing)
5.2 Vehicle Type
5.2.1 Motorcycle/Bike
5.2.2 Cars
5.2.3 Other Vehicle Types
5.3 City
5.3.1 Ho Chi Minh City
5.3.2 Hanoi
5.3.3 Other Cities
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Online Platforms
6.3.1.1 GrabTaxi Holdings Pte Ltd
6.3.1.2 Kyyti Group
6.3.1.3 FastGo
6.3.1.4 Go-Jek
6.3.1.5 MVLChain
6.3.1.6 Taxi Navi
6.3.1.7 VATO
6.3.1.8 Aber
6.3.2 Taxi Brands
6.3.2.1 Mai Linh Group JSC
6.3.2.2 Viansun Corporation
6.3.2.3 VinaTaxi
6.3.2.4 Hoang Long
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
Service Type
Traditional Taxi Service (Offline Hailing)
Modern Taxi Service (Online Hailing and Sharing)
Vehicle Type
Motorcycle/Bike
Cars
Other Vehicle Types
City
Ho Chi Minh City
Hanoi
Other Cities