Sunday, January 23, 2022

Banking and Financial Services Industry Procurement Intelligence, Growth Insights, COVID-19 Impact 2020-2027

The global banking and financial services market was valued at ~USD 20 trillion in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2027. The growth is majorly attributed due to the companies rearranging their operations and recovering from the COVID-19 pandemic, which had earlier led to restrictive containment measures including social distancing, remote working, and the closure of commercial activities. Banks and financial service providers are adopting digitization to modernize their commercial lending businesses owing to increasing competition among banks and growing demand for the simplified and quick commercial lending process.

Read report summary or request a free sample copy of the report “Banking and Financial Services Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

A banking and financial services market include a group or network of institutions, responsible for operating a payment system, providing loans, taking deposits, and helping clients with investments. Banking and financial services can be categorized into ten major categories:

  • Banking: Checking accounts, savings accounts, debit/credit cards, loans, etc.
  • Professional advisory: Investment due diligence, M&A advisory, valuation, real-estate consulting, risk consulting, taxation consulting.
  • Wealth management: Managing and investing customers’ wealth across various financial instruments including debt, equity, insurance products, real estate, etc.
  • Mutual funds: Managing investments on mutual funds.
  • Insurance: Provide personal (automotive, home, medical) and business insurance.
  • Stock market: Provide investment solutions for customers in the stock market.
  • Treasury/debt management: Managing investments into government and private organization bonds (debt).
  • Tax/audit consulting: Determining tax liability, transfer pricing analysis, and structuring.
  • Capital restructuring: The restructuring of capital structure (debt and equity) to bolster profitability.
  • Portfolio management: Analyze and optimize investments for clients across a wide range of assets (debt, equity, insurance, real estate, etc.).

Cost Drivers

The cost of banking and financial services can be categorized into two segments; facility cost and service cost. Facility costs include site management and maintenance cost, in-house machinery cost, etc. However, the major cost driver of the banking sector is the service cost. Service cost is segmented into employee costs, technology costs, training & development costs, employee benefits, taxes, and legal expenses. Among these, employee costs hold more than 60% share in the overall cost of banking and financial services followed by technology and employee.

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There are multiple challenges present in the global banking and financial services industry such as intense competition, keeping up with regulatory changes, customer retention policies, security measures, etc. Banking and financial service providers are forced to continuously modify their strategies to overcome these challenges. It creases an unstable environment within the banking sector.

Some of the leading banking and financial service providers are:

  • HSBC Holdings
  • Bank of China
  • JP Morgan Chase & Co.
  • BNP Paribas
  • China construction Bank Corp.
  • Mitsubishi UFJ Financial Group
  • Bank of America
  • Industrial and Commercial Bank of China
  • Credit Agricole Group

The global banking and financial services industry feature a moderately fragmented landscape with leading players contributing less than 45% of the market share. Industry leaders are strengthening their presence through multiple mergers and acquisitions. 

Check out the featured Add-on Services offered with Banking and Financial Services Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Automotive Sensors Industry Procurement Intelligence 2020-2027 Trend and Opportunities

The global automotive sensor market was valued at ~USD 25-30 billion in 2020 and it is expected to grow at a CAGR of 7-10% from 2020 to 2027. The increasing adoption of hybrid electric vehicles has increased the demand for various automotive sensors such as current sensors, temperature sensors, cell voltage sensors, and other components for battery management systems. APAC is the largest geographic segment in the global automotive sensor market with more than 50% revenue share in 2020. The growth in APAC is driven by the growing adoption of electric vehicles in China, South Korea, and Japan. Favorable government policies regarding the use of electric vehicles have propelled market potential for automotive sensor makers in the region. For instance, in January 2021, South Korea approved an electric vehicle subsidy budget of USD891.7 million for 2021. EV cars with a price range of less than USD53,000 will be fully subsidized.

Read report summary or request a free sample copy of the report “Automotive Sensors Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

An automotive sensor is a device that monitors the condition and keeps track of almost everything happening in and outside a vehicle, allowing the onboard computers to make decisions. These decisions help to improve engine performance, reduce emissions, improve safety, etc. Following are the most commonly used sensors across different vehicles:

  • Mass airflow sensor
  • Engine speed sensor
  • Oxygen sensor
  • Spark knock sensor
  • Coolant sensor
  • Manifold absolute pressure (MAF) sensor
  • Fuel temperature sensor
  • Voltage sensor
  • Camshaft position sensor
  • Throttle position sensor
  • Vehicle speed sensor

Raw material cost is the major cost driver of automotive sensor manufacturing. It accounted for more than one-third of the overall cost of production. Thermoplastics like PET (Polyethylene terephthalate), PBT (Polybutylene terephthalate), ceramics are widely used raw materials for automotive sensors. Other major costs include facility costs, machinery costs, labor costs, etc.

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The COVID-19 pandemics negatively affected the global automotive sensor industry. It resulted in disruptions in the export of Chinese parts, large-scale manufacturing interruptions across Europe, and closure of assembly plants in the U.S. More than 2.5 million passenger cars were removed from the production schedule due to large-scale industrial lockdowns across North America and Europe. Reduced vehicle production directly translates to a significant drop in demand for automotive sensors. Moreover, the lack of aftermarket sensors is considered as one of the key constraints in the developing market during the forecast period.

Leading suppliers of automotive sensors are:

  • Analog Devices, Inc.
  • Denso Corporation
  • Robert Bosch
  • Sensata Technologies, Inc.
  • Asahi Kasei Corporation
  • Freescale Semiconducto
  • Maxim Integrated
  • Infineon Technologies AG
  •  Measurement Specialties
  • Tekscan, Inc.
  • Texas Instruments Incorporated 
  • GE Measurement and Control Solutions

The global automotive sensor industry features a moderately consolidated landscape with leading players contributing around 55% of the market share. Industry leaders are strengthening their presence through multiple mergers and acquisitions. 

Check out the featured Add-on Services offered with Automotive Sensors Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends

Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Advanced Driver Assistance Systems Industry Procurement Intelligence, Growth Insights, COVID-19 Impact 2020-2027

The global advanced driver assistance systems market was valued at USD 17.6 billion in 2020. The market is projected to grow at a CAGR of 12.3% from 2020 to 2027. Geographically, the European market is the largest market for advanced driver assistance systems as of 2020. Demand for semi-autonomous vehicles or the requirement of driving assistance features for the new versions of EV is generating additional demand for ADAS in the market.

The COVID-19 pandemic has resulted in a decline in the advanced driver assistance systems industry globally. Several OEMs have paused or reduced manufacturing vehicles. This has directly affected the tier 1 suppliers and providers of advanced driver assistance systems globally. However, the automotive market is currently recuperating from the effects of the pandemic. While the market is yet to reach normalcy, industry experts expect that by Q2, 2022, the demand for automobiles, especially ones with semi-autonomous vehicle features and safety features like advanced driver assistance systems will increase.

Read report summary or request a free sample copy of the report “Advanced Driver Assistance Systems Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

The majority of the automotive accidents occurring currently are due to human error or are ones whose impact could have been avoided with better and cautious driving. To reduce and prevent such instances, automotive companies are implementing Advanced Driver Assistance Systems in their vehicles. Advanced Driver Assistance Systems, commonly known as ADAS, provide five safety-essential features. These include pedestrian detection and avoidance, lane departure warning and correction, traffic sign recognition, automatic emergency braking, and blind-spot detection. ADAS is one of the primary features that lay down the foundations for an autonomous vehicle. ADAS works on three primary types of sensors. They are radar/LIDAR, cameras, and ultrasound. The objective of an ADAS is to provide a 360-degree detection capacity of the vehicle, including the blind spots to minimize risks while driving.

The advanced driver assistance systems industry is still innovating and undergoing technical changes. With changing requirements from end-users, OEMs are laying down varying requirements which the suppliers of advanced driver assistance systems have to cater to. This makes it difficult for suppliers to have market-level cost drivers. However, manufacturing processes and procurement strategies help reduce the cost of manufacturing and the cost of operations. Also, depending upon the vehicle type, margins may be adjusted, leaving scope for better profit margins. But there are other market drivers like shifting preference to semi-autonomous vehicles and focus on vehicle safety in addition to government mandates which makes OEMs inculcate a certain safety standard in their vehicles to achieve the required NCAP rating for selling their vehicles in a certain geography. These factors are helping drive the market in terms of the adoption of advanced driver assistance systems.

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One of the major challenges for implementing advanced driver assistance systems in developing countries is the lack of infrastructure. For example, the lack of well-organized road and lane markings with the unavailability of GPS for the proper functioning of ADAS makes it difficult for the safety systems to function effectively. To add to this, the pandemic has resulted in a decrease in the average spending of consumers. Hence, the additional cost required to incorporate an advanced driver assistance system in vehicles for regions where lack of infrastructure makes it infeasible for the ADAS to function efficiently is repelling for the consumers. This challenge is external to the supplier dynamics and is hard to adjust to make ramifications to overcome this challenge internally.

The key suppliers for advanced driver assistance systems market are:

  • Robert Bosch
  • Continental
  • ZF Friedrichshafen
  • Aptiv Denso
  • Magna International
  • Valeo Mitsubishi Electric
  • Nvidia
  • Panasonic
  • Texas Instruments
  • Vector
  • Hitachi Automotive Systems
  • Hyundai Modis
  • Delphi Automotive

The industry is fragmented in nature with the presence of several local as well as global suppliers and the ever-evolving nature of the market makes it lucrative for the suppliers to enter the market.. 

Check out the featured Add-on Services offered with Advanced Driver Assistance Systems Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
  • Market Intelligence involving - market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
  • Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.

Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Sunday, January 16, 2022

Auditing Services Industry Procurement Intelligence Report 2027: Key Factors And Emerging Opportunities

Auditing is an official examination and verification of a business’s financial records. Auditing services include official inspection and verification of the credibility of financial reports. The main objective of auditing is to confirm whether the company’s financial statements are accurate and are following regulatory guidelines. Auditing also gives investors, creditors, and other stakeholders reasonable assurance that they can rely on a company and its integrity. Audits can be conducted by either a business’s management as an internal control process or by the government, in case they notice suspicious financial activity. Auditing services can be categorized into three major types:

  • Internal audits: It is performed by a qualified auditor or accountant working within the organization. Internal audits can be conducted weekly, monthly, or annual basis based on company requirements.

  • External audits: In this audit, financial statements are made by an independent, third-party professional. External audits are extremely beneficial as it is more unbiased and reliable than internal audits.

  • IRS audits: Internal Revenue Service (IRS) audits are government audits conducted to ensure that financial data has been reported in compliance with tax laws. These audits are mostly conducted randomly. However, more often than not IRS selects businesses based on suspicious activity, such as unusual deductions or uncommon sources of income.

Read report summary or request a free sample copy of the report “Auditing Services Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Demand Outlook

The global auditing services market is valued at ~USD 220 billion in 2020 and it is expected to grow at a CAGR of 4% from 2020 to 2027 majorly due to Increasing stringent government regulations regarding disclosure and reporting of financial details. The external audit segment has a higher market share than the internal audit segment. The external audit segment accounted for more than 60% of the overall market. However, the internal audit segment is expected to witness the highest growth rate during the forecast period. North America has the largest market share of ~40% in the global market followed by APAC and Europe.

Cost Drivers

The salary of professionals conducting the auditing is the major cost driver of the auditing services. This auditor rate is very high in North America and Europe. APAC's average auditor rate is around 50% lower than North America and Europe. However, the salary growth rate in APAC is considerably higher than in other regions.

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Some of the key suppliers of auditing services are:

  • Ernst & Young
  • Protiviti
  • RSM US
  • Deloitte
  • PwC
  • KPMG
  • Grant Thornton International Ltd.
  • Moore Stephens International Limited

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About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Sodium cyanide Industry Procurement Intelligence, Growth Insights, COVID-19 Impact Till 2027

Sodium cyanide is a highly toxic salt that commonly appears as a white solid and is redolent of almonds. It is soluble in water, ammonia, methanol, and ethanol. Sodium cyanide can be segmented into two types based on forms; solid sodium cyanide and liquid sodium cyanide. Following are the major applications of sodium cyanide:

  • Mining: Sodium cyanide is extensively used in the mining industry. The main use of sodium cyanide in mining is the extraction of gold and other precious metals. Gold is highly reactive to cyanide, therefore, it is explicitly used in gold mining.

  • Chemical feedstock- Sodium cyanide helps in producing several commercially significant chemical compounds such as cyanogen chloride, many types of nitriles, and cyanuric chloride. Nitriles are present in many chemicals, and it has vast usage in the pharmaceutical industry. Furthermore, sodium cyanide is used as an agricultural chemical and pesticide. It can also be used to produce hydrocyanic acid.

Read report summary or request a free sample copy of the report “Sodium cyanide Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Demand Outlook

The global sodium cyanide market was valued at ~1 million tons in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2027 owing to increasing demand from the mining industry. The mining industry is the largest end-user segment of the global sodium cyanide market with more than 70% market share in 2020. APAC countries like China, South Korea, and Australia are the largest producers of sodium cyanide accounted for more than 50% share in the global sodium cyanide industry, followed by the U.S. and Germany. Liquid sodium cyanide has higher demand than solid sodium cyanide. Liquid sodium cyanide accounted for more than 60% of the global sodium cyanide demand.

Cost Drivers

Industrial sodium cyanide is produced from metallic sodium, charcoal, and ammonia. In this process, molten sodium, ammonia, and charcoal react to form Sodium Cyanide. The procurement cost of these chemicals plays a very crucial role in determining the sodium cyanide production cost. The cost of raw materials accounted for more than 50% of the overall cost of production followed by machinery, equipment, and labor costs. As the price of raw material is highly volatile, sodium cyanide manufacturers outsource their production to low-cost countries like China to maintain the profit margins.

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Some of the key suppliers of sodium cyanide are:

  • The Chemours Company
  • Cyanoco
  • Orica Ltd.
  • Australian Gold Reagent
  • Hebei Chengxin
  • Anhui Shuguang Chemical Group
  • Tongsuh Petrochemical
  • Taekwang Industrial
  • CyPlus (Evonik)

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About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Shipping Containers Industry Procurement Intelligence Report 2027: Key Factors And Emerging Opportunities

Containers are used to transport bulk materials via container ships on seaways. A shipping container is usually made of sturdy material which ranges from reusable steel boxes that are used for intermodal shipment, ubiquitous corrugated boxes, or even wooded pallets. While shipping containers may come in various sizes, the four most popular sizes of container sizes are 8-feet shipping container, 10-feet shipping container, 20-feet shipping container, a 40-feet shipping container. Even among these varieties of sizes, the 20-feet and the 40-feet shipping containers are the most popular containers. The shipping containers are essentially manufactured as per ISO specifications not only to have a hassle-free loading and unloading but also to be capable of withstanding extreme environments and maintain their structural integrity during a voyage.

Read report summary or request a free sample copy of the report “Shipping Containers Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Demand Outlook

The global shipping container market is expected to be valued at USD 6.4 billion in 2027. While the shipping and transportation market is currently facing a shortage in the supply of containers, it is expected that the supply of shipping containers will increase during the period of forecast. The anticipated CAGR during the period of forecast (2020 to 2027) is 12.0%. From a market segmentation perspective, based on the type of container, dry containers occupied approximately 70% market share in the overall container market and it is expected to drive the market during the period of a forecast as well.

The COVID pandemic negatively influenced the shipping containers industry. WTO has analyzed that there was a 9.2% decline in the volume of global merchandise trade in 2020 (compared to its previous year). In 2021, the trade volumes increased by 7.2% as compared to the trade-in 2020. The increased trade volume from 2021 was mostly carried out through containers. This indicates the growing demand for containers for trading.

Cost Drivers

Growth in international trade is boosting the demand for intermodal shipments. However, there is currently there is a global shortage of containers and due to this, the tariff rates for transport have been increasing continuously. This is prompting the shipping and transport providers to take several actions like optimization of ship routes to touch base with more ports, increasing the number of available ships over an extended period and introducing more containers into the market. These steps will help in the growth of the market.

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Key suppliers of shipping containers are:

  • China International Marine Containers Co. Ltd.
  • Maersk Container Industry AS (A.P. Moller)
  • CXIC Group, Singamas Container Holdings
  • Bertschi AG, CXIC Group
  • W&K Containers, Inc.
  • Thurston Group Limited
  • OEG
  • Sea Box, Inc.
  • IWES Ltd.
  • Norcomp Nordic AB

Check out the featured Add-on Services offered with Shipping Containers Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Refrigerated Transport Industry Procurement Intelligence, Growth Insights, COVID-19 Impact Till 2027

Refrigerated transport is a method of transporting shipments (Meats, fish, fruits, vegetables, pharmaceutical products, etc.) with specially designed temperature-controlled trucks or vehicles. The transporting trucks have a built-in refrigeration system that maintains the regulated temperature through the shipment process. Based on the type of cargo carried, refrigerated transport vehicles can be categorized into the following segments:

  • Isothermal trucks: It has insulating walls, as well as the floor and ceiling inside the merchandise section to control the temperature.

  • Refrigerated trucks: This isothermal vehicle manages to reduce the temperature inside the cargo area and preserve it for a long duration.

  • Fully integrated refrigerated truck: The truck has a device that cools the cargo box. It reduces the temperature inside the merchandise and keeps it stable between 12 degrees and -20 degrees, depending on the product inside the vehicle.

  • Calorific truck: It generates heat and manages to increase the interior temperature (above 12 degrees) and keep it stable for around 12 hours.

Read report summary or request a free sample copy of the report “Refrigerated Transport Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Demand Outlook

The global refrigerated transport market was valued at USD 16 billion in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2027 due to the increasing trade of perishable commodities across the globe. The fish & seafood industry is the largest contributor in the end-user segment of the global refrigerated transport market with more than 50% revenue share. APAC is the largest geographic segment in the global industry due to the strong presence of the seafood and meat industry across the region. APAC accounted for more than 40% of revenue share.

Cost Drivers

The cost of refrigerated transport services can be categorized into two parts. Cost of vehicle (Fixed cost) and service costs (Variable cost). The fixed cost has a small share in the overall cost of refrigerated transport services. Whereas, variable costs play a crucial role in determining the total cost of refrigerated transport services. Fuel costs, driver wages, insurance, toll charges are the major variable cost component. Fuel costs and driver wages accounted for 55-60% of the overall cost of service. The share of fuel costs and driver wages changes based on region. For instance, driver wages in APAC countries are 25-35% lower than in North America and Europe.  

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Some of the leading refrigerated transport service providers:

  • C. H. Robinson
  • DB Schenker
  • United Technologies
  • Daikin Industries
  • Ingersoll-Rand
  • China International Marine Containers
  • Utility Trailer
  • Singamas Container
  • Schmitz Cargobull
  • Fahrzeugwerk Bernard Krone
  • Lamberet

Check out the featured Add-on Services offered with Refrigerated Transport Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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ESG Initiatives In The Bakery Product Industry

Embedding the value of environmental, social and governance (ESG) in the  bakery product industry  has become a vital cog in augmenting reve...