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Share withThe global internal combustion engine market has remained a preferred choice in the transportation industry for over a century due to its convenience and lower costs. With continuous technological advancements, internal combustion engines have become faster, more efficient, and powerful. The ease of refueling and the extensive network of oil filling stations worldwide have […]
Share withAccording to the Data Bridge Market Research report, the aerospace part manufacturing market is expected to undergo a CAGR of 4.50% during the forecast period (2023 – 2030). This indicates that the market value would rocket to USD 1,265.41 million by 2023 compared with USD 889.81 million in 2022. The global aerospace parts manufacturing […]
Share with The medical devices market size was valued at USD 62.6 billion in 2021 and is poised to grow from USD 63.4 billion in 2022 to USD 134.56 billion in 2030 at a CAGR of 11.35% in the forecast period (2023 – 2030), according to SkyQuest’s Global Medical Devices Market report. The medical devices […]
Share withThe growth of renewable energy production has been vital in the past decade, and a growing number of governments and companies are committing to meet net-zero targets. At the same time, energy demand continues to rise, and fossil fuel production has risen to meet that demand. The current share of primary energy from fossil […]
Share withASEAN is well positioned to capitalize on the rebound in global trade. Before the COVID-19 pandemic and Russia’s invasion of Ukraine, international businesses had begun moving more manufacturing and sourcing to Southeast Asia. One reason is that China’s once overwhelming cost advantage in labor-intensive industries began to wane around a decade ago as the […]
Share withAsia’s electric-vehicle market is poised for growth. Those who approach the challenges and opportunities with an ecosystem view can create signs for their business. In Asian countries, consumers are adopting EVs at different paces. Compare with mature markets, such as China and Japan, emerging Asia—particularly India and ASEAN—is lagging. In 2021, EVs made up […]
Share withArticle by: Asst. Prof. Suwan Juntiwasarakij, Ph.D., Senior Editor & MEGA Tech Since it was established in 1967, ASEAN has been on a journey of almost constant growth. Despite the challenges of the 2008 global economic crisis, the region’s GDP grew steadily at an average annual growth rate of 5.7% through 2019. The services […]
Share withBelieve it. In the next decade, the automotive industry will face a magnitude of change that has not been in a century. This change will e driven primarily by four mutually reinforcing trends, i.e., autonomous, connected, electric, and shared (ACES) vehicles. These will result in different user behaviors and mobility preferences, shifting value pools, […]
Share withThailand’s healthcare market is promising. Healthcare spending in Thailand is expected to reach USD 24.6 billion in 2023, representing 4.0% of GDP with a CAGR of 5.4% between 2014 and 2023, accounting for growth in both the healthcare and the medical devices market, according to KPMG. Increasing healthcare expenditure is also due to Thailand’s […]
Share withASEAN has significant automotive production bases in Indonesia, Malaysia, Thailand, and Vietnam. In addition, growth in GDP, urbanization, and road infrastructure accelerated the sales and adoption of private vehicles. The automotive industry in Indonesia remains a promising sector that contributes significantly to boosting the nation’s economic growth. According to the Minister of the Industry […]
