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July 19, 2014

China and India – the Most Promising Markets for Accountants and Auditors

Vita KrasodomskyteAnalyst Insight by Vita Krasodomskyte - Industrial Analyst

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Posting double-digit growth rates, the accounting and auditing markets in China and India are creating wide opportunities. Growing economies, dynamic business environments and constantly changing accounting and auditing standards are the main driving forces behind the growth in the reviewed market. Therefore, a number of accounting and auditing companies are opening offices in these countries in order to benefit from such strong expansion.

 

China’s and India’s total GDP grew by nearly 11% and 12%, respectively, in 2013 and is projected to grow at an even faster pace in the future. Such increases are much higher than in developed countries like the US or the UK, where growth is around 3-5%. Strong growth in the economies of China and India is driving the expansion of business activities, not only in local markets, but also internationally, thus impacting on the rising demand for accounting and auditing services.

Figure 1 Accounting and Auditing Market Growth

  accounting comms.png

Source:    Euromonitor International from National Statistics

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July 6, 2014

EU-Japan Free Trade Deal: Influx of Japanese Imports Could Lead to Strategic Alliances

Justinas_LiuimaAnalyst Insight by Justinas Liuima - Industrial Analyst

The European Commission has expressed a will to continue negotiations with Japan with regard to a free trade agreement (FTA). However, the deal is facing strong opposition from European car producers due to fears of a price war, driven by an influx of Japanese imports. If a free trade agreement is reached, European producers could seek strategic alliances with their Japanese counterparts. 

Fear of Japanese Imports Leads to FTA Opposition

Despite the expressed political support from the European Commission, the European Automobile Manufacturer’s Association (ACEA) is opposed to a free trade agreement. The EU has consistently faced a trade deficit with Japan in terms of motor vehicles, with the value of imports reaching €9.1 billion in 2013 compared to exports worth €7.8 billion.

ACEA fears that an FTA would hinder business in its home market, particularly for volume producers in Italy and France. FTA would provide better positions for Japanese producers to leverage overcapacity and flood the European market with cheaper imports. This could spark a price war in the EU, which would be disastrous for car makers in France and Italy, which are already struggling with overcapacity and low profit margins.

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June 30, 2014

The US Relaxes Restrictions on Crude Oil Exports

Giedrius RudisAnalyst Insight by Giedrius Rudis - Industrial Analyst

This week, the Wall Street Journal reported that the US Commerce Department has issued separate private rulings allowing two Texan companies, Pioneer Natural Resources Co and Enterprise Products Partners LP, to export a type of ultra-light oil known as condensate. Although exports of condensate will not offset the overall increase in US crude oil output, the move gives the industry hope of a further easing of the crude oil export ban.

Under current regulations, companies can only export US refined fuel like gasoline or diesel, but not crude oil. The embargo only excludes Canada. There are also certain exceptions that require a special licence to export crude oil to other countries, but as of 2013 almost all the crude oil exported from the US was destined for Canada. However, under the recent private rulings, condensate can also qualify as a refined product. Therefore, some ultra-light oil could be reclassified as fuel after it has been minimally processed, thus easing the export ban.

The willingness to relax the restrictions was likely prompted by the recent expansion of crude oil production in the US. As of March 2014, crude oil production in the country stood at 8.2 million barrels per day, up from 5.6 million barrels a day three years ago. Most of this expansion can be attributed to soaring light crude oil production. According to US Energy Information Administration estimates, this growth momentum is projected to be maintained in the coming years.

Soaring Light Crude Oil Production

Lightoil

Source: Euromonitor International from the US Energy Information Administration

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June 24, 2014

Machinery Production: Growing Specialisation in Asia

 Machinery Production in Asia

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Major Asian countries are all specializing in a particular segment of machinery production. In China construction machinery dominates and is expected to reach over 42% of overall machinery production value by 2017. The industry will be driven by growing domestic construction. In Japan robots, semiconductor and materials machinery will hold strong positions with over 45% of output attributed for this segment in 2017. In the meantime, modernization of Indian agriculture facilitates growing demand for agricultural machinery. Finally, metallurgy machinery will account for almost a half of machinery production in Indonesia by 2017.

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June 16, 2014

On-Demand Webinar: B2B Market Attractiveness Evaluation: How to Size Opportunities and Reduce Risk

Indre.CesnieneSpeakerIndre Cesniene
Head of Passport: Industrial

For multinational companies selling into multiple industries and geographies, evaluating client industry potential, profitability and stability can be challenging. 

In this webinar, you will learn how to develop a systematic market research framework serving medium to long-term strategy needs.

Once implemented, this framework will answer questions such as:

  • Which industry and country should we target next?
  • How will our existing B2B clients fare in the future?
  • What B2B clients are exposed to higher risk and/or opportunities?

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Special Report: From Farm to Fork: Agribusiness is Big Business

Sarah-B-Banner

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Agribusiness is big business and key farming countries are jostling for position to be the leading suppliers of agricultural commodities. Why? Globally, agriculture accounts for 4.5% of GDP, but in dollar terms at US$3,043 billion this is equivalent to more than the entire GDP of France or the UK.  With the use of technology and the emergence of large scale producers, agriculture has been transformed into a driver of economic growth. Yet it is not a sector without challenges.

 

Key Points

  • The USA is by far the world’s largest agricultural exporter, exporting US$103 billion of food and live animals in 2013. The USA dominates the world in exports of meat, cereals, fruit and vegetables and is home to some of the world’s largest agribusiness companies;

  • The importance of developing economies in agricultural production has risen sharply. China is now a key player globally with exports of food and live animals increasing by 70% in US$ terms between 2003 and 2008;

Continue reading "Special Report: From Farm to Fork: Agribusiness is Big Business" »

June 13, 2014

Natural Gas Deal may Benefit Russia in the Short-Term

Russia and China recently signed an agreement worth US$ 400 billion for Russia to supply China with natural gas. This agreement, the largest gas deal ever, comes at a time of tension between Russia and its main trade partner, the European Union. The advance payments from China as well as an investment in the construction of a pipeline to transport the gas will revitalize the Russian export sector in the short term, which has been stagnant this year.

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June 6, 2014

How Could Saudi Arabia Benefit from a Global Economic Recovery and Political Tension in Europe?

Justinas_LiuimaAnalyst Insight by Justinas Liuima - Industry Analyst

Global oil prices are on an upward trend thanks to economic recovery in the US and Europe and political tension between Russia and Ukraine. This is good news for Saudi Arabia, one of the largest oil exporters globally, as revenue for the state budget grows. In addition, rising oil prices could support the diversification of Saudi Arabia’s economy while politics could open up new markets in Europe.

Economic Recovery and Tension in Ukraine Put Upward Pressure on Oil Prices

Global oil prices have continued to show an upward tendency since March 2014. The price of Brent crude stood at nearly US$110 per barrel in May, while futures for June rose to nearly US$109 per barrel. Growth can be attributed to economic recovery in the US and Europe, while tension between Russia and Ukraine and possible military intervention have also had an influence.

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May 5, 2014

Ageing Asian Population is Key for Medical Devices Industry

Jana-Dranenkaite-Project-Manager-IndustrialWith Jana Dranenkaite, Industrial Research Manager

Developed countries such as Japan, China, Germany and the US are the largest markets for medical devices, accounting for a quarter of global demand. According to Euromonitor, Asian Pacific countries are key for the future of medical devices due to their ageing populations. In the next decade, Asia Pacific’s population over the age of 65 will grow by five percent each year. In addition, the Chinese government is pouring money into healthcare programs, adding to the demand for medical devices. 

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April 30, 2014

Trans-Asian Railway Provides Growth Opportunities for Dry Ports

Justinas_LiuimaAnalyst Insight by Justinas Liuima - Industrial Analyst

Over the last 10 years Asian countries have emerged as low-cost manufacturing hubs for products aimed for export. However, the situation is changing and Asian countries are developing higher value domestic industries. In addition, the growing number of affluent people in Asia is boosting demand for imported goods from Europe, in turn changing the trade structure. These changes are also having an impact on logistics.

As trade structure is changing, new modes of transportation between Asia and Europe are being developed. The Trans-Asian Railway (TAR), supported by the UN, is the most representative initiative of boosting operational efficiency and the economic relevance of railways. The TAR aims to provide six efficient freight and passenger transport services between Asia and Europe via 114,000km of railway.

 

Trans-Asian Railway

In 2011, the first line connecting China and Germany was opened. The railway line, dubbed the new Silk Road, covers more than 10,000km through China, Kazakhstan, Russia, Belarus, Poland and Germany. The journey by train takes 15 days (compared to 30-40 days by sea) and is 80% cheaper than air transport. Computer giant Hewlett-Packard claims it shipped more than four million notebooks via this railway over 2011-2013, while German carmaker BMW uses it to transport automotive components from Leipzig to Shenyang. One of the operators of the line, DB Schenker Rail Automotive, has in turn launched a daily freight service to China.

New routes from Singapore to Shanghai and Seoul to Samarkand, Uzbekistan, will also be possible in the near future. Improving rail connections will also increase the importance of dry ports, which will operate as hinterland distribution and consolidation centres in the logistics chain. Dry ports are also expected to become a viable alternative to sea transport and provide new opportunities for landlocked countries. Moreover, railway gauge differences create preferable conditions for dry port expansion in Eastern European countries.

Continue reading "Trans-Asian Railway Provides Growth Opportunities for Dry Ports" »

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Recent Posts

China and India – the Most Promising Markets for Accountants and Auditors

EU-Japan Free Trade Deal: Influx of Japanese Imports Could Lead to Strategic Alliances

The US Relaxes Restrictions on Crude Oil Exports

Machinery Production: Growing Specialisation in Asia

On-Demand Webinar: B2B Market Attractiveness Evaluation: How to Size Opportunities and Reduce Risk

Special Report: From Farm to Fork: Agribusiness is Big Business

Natural Gas Deal may Benefit Russia in the Short-Term

How Could Saudi Arabia Benefit from a Global Economic Recovery and Political Tension in Europe?

Ageing Asian Population is Key for Medical Devices Industry

Trans-Asian Railway Provides Growth Opportunities for Dry Ports