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According to Fran Brunelle, President of Accelerated Manufacturing Brokers, manufacturers considering retirement are hit with uncertainty from every possible direction including COVID, government-ordered shutdowns, the pending presidential election, and possible tax implications. Read more here.
“However, it’s not all bad or uncertain news for manufacturers seeking to exit. There are still plenty of quality buyers seeking acquisition of manufacturing companies. As an M&A professional selling nationally and specializing in manufacturing, we are busier than ever and are receiving, in some cases, full list price offers for our clients,” shared Brunelle.
For most manufacturers considering retirement, the disclosure that they are in the process of marketing the company to their employees, customers, competitors, and suppliers can be incredibly damaging to the business. Most brokers disclose the name and location of their clients way too early. Find out exactly how a firm deals with confidentiality issues before they are hired.
About Accelerated Manufacturing Brokers, Inc.:
Accelerated Manufacturing Brokers, Inc., specializes in the sale of manufacturing companies nationwide, with generally $2 - $20 million in revenue, and a minimum of $500K in net income. The firm is exclusively dedicated to helping manufacturers sell their businesses and transition into retirement. The firm’s mission ensures the continuity of U.S. manufacturing by connecting a new generation of entrepreneurial owners. The upfront guidance is offered without a fee; the assessment and how to optimize the manufacturing enterprise for sale is a unique hallmark of the Accelerated Manufacturing Brokers’ value proposition.
Passion about the manufacturing sector is personal; it represents the best and backbone of the U.S. economy. Clients are quintessentially great small American manufacturers. These savvy entrepreneurs are the nation’s renegades and rebels who have worked hard and built great companies. Like the clients served, the Accelerated Manufacturing Brokers’ team is highly entrepreneurial and manufactures their destiny while helping clients realize how to best position their company for prospective buyers.
Timber Pharmaceuticals, Inc. (NYSE American: TMBR) is receiving a somewhat uninspiring welcome as a newly-listed NYSE stock. However, we believe that the Company’s share price is oversold and may be poised for a correction as the Company moves towards completing patient enrollment and releasing topline data in its two Phase 2b trials, currently anticipated in Q3 2021.
Since becoming a public company in mid-May, Timber has continued to execute its strategic plan to develop and commercialize treatments for orphan and rare dermatologic diseases. The orphan drug market is the focus for Timber based on the seven years of U.S. market exclusivity provided when the FDA approves orphan drugs. Orphan drug exclusivity prevents FDA from approving other companies’ applications for the same drug for the same use, enabling the Company to maximize value in the marketplace from a set of treatments that target unmet medical needs.
While Timber only started to trade on the NYSE in May, the Company brought with it a product portfolio with near and long-term opportunities. The pipeline features a stable of biopharmaceutical products intended to offer treatments for orphan dermatologic diseases. More specifically, its initial drug candidates are focused on treating non-systemic and rare dermatologic disorders, including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), and localized scleroderma.
To date, the Company's investigational therapies have demonstrated proven mechanisms-of-action backed by decades of clinical experience and well-established chemistry, manufacturing, and controls (CMC) and well-supported safety profiles. And it's that combination of attributes which is driving the development and ultimately, the commercialization of its targeted dermatologic treatments. Here's why.
Timber has been quick to offer the market good news. During the second quarter of this year, it announced that all 11 sites in the CONTROL trial are open for TMB-001 for CI. Many locations have also opened for TMB-002 for FAs, enabling Timber to continue its enrollment in each of the Phase 2b clinical trials. The Company expects to complete patients' admission in both the TMB-001 and TMB-002 clinical trials during the first quarter of 2021.
Beyond advancing its two Phase 2b trials, the Company is also advancing its strategic options for the two assets Timber had acquired in connection with its merger with BioPharmX. In an August update, Timber announced its latest monetization efforts through the notice received from the European Patent Office (EPO) stating its intention to grant a patent for its topical composition of pharmaceutical tetracycline (including minocycline) for dermatological use. Already, patents covering the BPX-01 and BPX-04 assets have previously been granted in the United States and South Africa. Claims related to the patents have been allowed in Australia- serving as a precedent for further allowance.
While owning a robust IP portfolio is critical to success, it's only part of the necessary tools for success in that cash is still king, and Timber has both. In its recent 10-Q financial filing for the second quarter of 2020, management noted that after accounting for several one-time expenses and costs related to its merger and listing, its cash balance of nearly $14 million at June 30, 2020 is expected to fund its trials and operations through the completion of both current TMB-001 and TMB-002 clinical trials, which are expected to conclude in Q2 2021 with topline data results expected to be released in Q3 2021.
Assuming that these clinical trials produces positive results, the Company can then proceed with planning Phase 3 trials - a crucial step on the path to commercialization.
Two Clinical Programs are Targeting Substantial Market Opportunities
To reach the next level of success, Timber is advancing two assets through Phase 2b clinical trials and one through a preclinical stage program. The Company's two late-stage products, TMB-001 in CI and TMB-002 in FAs, target orphan indications with high unmet needs and no FDA approved treatments. To expedite the regulatory process, Timber is utilizing the 505(b)(2) pathway to minimize the data it will be required to generate in order to obtain marketing approval for its product candidates and therefore reduce the development time.
Upon approval and commercialization, Timber estimates that the U.S. orphan markets for TMB-001 and TMB-002 can reach $250 million for each indication at peak sales. In addition, both product candidates have additional prospective life cycle management opportunities to sustain growth and further maximize add-on marketing potential. A top-line data readout for both Phase 2b trials is expected during the third quarter of 2021.
Although Timber has several irons in the fire, its ambitions are disciplined and straight-forward - create shareholder value by specializing in drug development for orphan dermatological conditions with no current FDA approved treatments. Each product candidate also has potential follow-on indications in significant dermatology markets beyond the initial orphan indications.
Notably, Timber has established numerous strategic relationships that can help the Company continue development of its product and also transition from a development stage to an FDA-approved product company. Timber collaborates with scientific advisors from UCSF, Yale, and Stanford. Timber also has relationships with AFT Pharmaceuticals, the Foundation for Ichthyosis, and the Tuberous Sclerosis Alliance.
Understanding Orphan Drugs and the 505(b)(2) Pathway
To get products through trials and to market quickly, Timber is leveraging the 505(b)(2) regulatory pathway to expedite potential approvals from the FDA. In addition to the speed offered through that pathway, the focus on orphan drugs, which are drugs that target populations below 200,000 people in the U.S., brings specific financial incentives, including tax advantages and user-fee waivers. Most importantly, an approved orphan drug is given market exclusivity for seven years in the U.S. and 10 years in Europe and Japan. An additional strategic consideration is that the trials tend to be smaller and less costly, with greater FDA flexibility. Many large drug companies, such as mega-caps like Novartis (NYSE: NVS) and Pfizer (NYSE: PFE) have used this 505(b)(2) pathway.
As investors evaluate Timber’s pipeline potential, it's essential to understand the specific advantages of the 505(b)(2) regulatory pathway. It mitigates clinical risk and significantly reduces drug development time. These benefits come as the original compound's safety and efficacy have already been established and can be leveraged to expedite new development. Thus, companies are often given the approval to move directly into Phase 2 clinical studies, as is Timber's case.
Moreover, because orphan drugs are often the only or best treatment option for these rare diseases, they generally obtain better pricing and reimbursement status than drugs serving much broader populations with several competing treatment options. That understanding may be the motive behind Timber's focus on orphan drugs, knowing that its products' successful commercialization can potentially seize substantial commercial opportunities with little to no competition.
Positioned for Growth in 2020-2021
Moving forward, Timber is already positioned to become a leading player within the rare/orphan dermatology space. The corporate strategy is disciplined, and its focus remains true to the development and anticipated commercialization of its portfolio assets within this segment. Those efforts are also centered on mitigating the cost, risk, and time of drug development while retaining earnings potential through several strategic initiatives.
First, the Company is identifying compounds with proven mechanisms-of-action across several dermatologic conditions. This mitigates clinical risk for each of the programs and increases life cycle management potential. Second, it pays close attention to ensuring that specific drug’s differentiation creates potential barriers to entry. Third, the Company is only pursuing orphan indications with no approved FDA treatments. Timber is focused on filling unmet needs to deliver truly meaningful therapies to patients.
Although Timber's stock has faced a tough few months since becoming public, we believe that there is an apparent disconnect between the value in its clinical trials and its current market cap.
Going forward, the Company's pipeline opportunities, its strong balance sheet, and two ongoing Phase 2b clinical trials may take center stage to drive a surge in shareholder value.
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Industrial journalist, TR Cutler discussed why so many BI (business intelligence) solutions are overpriced for small and mid-sized manufacturers in the September issue of Manufacturing Outlook. Read Cutler’s article here.
Cutler talked with Rob Collie, founder of P3 (Power Pivot Pro), specializing in BI designed to be affordable for the SME market. Collie suggested, business intelligence is suffering a “hangover” during the past three-decades when BI was strictly the domain of large enterprises. Beyond the steep price tag were equally expensive implementation costs. While there are more affordable BI solutions available to small and mid-sized manufacturers, the platform selected may prohibit smaller companies from accessing meaningful data.
The dashboards provided real-time, actionable insights in response to massive sales spikes for the cleaning product, as well as uncovering millions in working capital from inventory inefficiencies. Relative sources of revenue often fluctuate more frequently (and sharply) than assumed. These fluctuations leap off the screen with good dashboards. This information is even more important when something like COVID throws out the old playbook, and each day seems to bring a new set of conditions.
Jacket Media is the parent company of Manufacturing Outlook e-zine. The publication highlights current manufacturing trends.
About TR Cutler, Inc.
Thomas R. Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc., the largest manufacturing communication firm worldwide with four dozen industry experts and thought leaders on staff. Cutler is celebrating the 21-year anniversary of the Manufacturing Media Consortium with more than 8000 members worldwide from editors, economists, freelance writers, and industrial thought-leaders.
During COVID-19 Cutler is advising manufacturers, industrial leaders, supply chain professionals, and C-level executives how to best navigate Q4 2020 and beyond.
Cutler has authored more than 8,000 articles for a wide range of manufacturing periodicals, industrial publications, and business journals. Cutler is the most published freelance industrial journalist worldwide, and more than 4600 industry leaders follow Cutler on Twitter daily at @ThomasRCutler.
Media Contact Company Name:TR Cutler Inc. Contact Person: Thomas R. Cutler Email:Send Email Phone: 954-682-6200 Address:3032 S. Oakland Forest Dr. S-2803 Unit 2803 City: Fort Lauderdale State: FLORIDA Country: United States Website:http://www.trcutlerinc.com
Million Insights - World's Fastest Growing Market Research Database
According to new report available with Million Insights, the global tofu industry research report offers complete analysis of growth driver, distribution channel, competitive landscape and scope. This enables numerous opportunities for the market players to invest in research and development.
The global tofu market is estimated to reach USD 3.28 billion, by the end of 2025, and is expected to grow at the CAGR of 5.2% from 2019 to 2025, according to a new report by Million Insights. The growing inclination towards plant based products owing to the healthy fitness benefits and growing population of vegan consumers is a major factor driving market growth. Additionally, increasing prevalence of glutamic disorders and lactose intolerance are expected to propel the demand for the product in the next few years.
The tofu product includes is of flavones that help in reducing the problem of cardiovascular diseases and breast cancer. In addition, the tofu is enriched with calcium, sodium, zinc, magnesium, iron, phosphorous, and potassium. All these key factors are projected to gain attraction among health aware people, which in turn is boosting the product demand.
In 2018, supermarkets & hypermarkets channels have dominated the tofu market with a share of over 50.0% in the market. Due to the low sales and operating overheads the consumer gets these products at an affordable price rate. Supermarkets also give quality assurance about the product while purchasing. The presence of a variety of product is gaining traction among consumer thus is anticipated to impact positively on the channel’s growth.
Online channels are projected to grow at a significant rate owing to the high offers on product buying such as discounts, home delivery services. Major e-retailers in the market are Grofers, AliExpress, Amazonand others.
Asia Pacific region led the market by holding a market revenue share of over 50.0% in the year 2018. The growing awareness about the health benefits regarding tofu products in emerging countries like India and China. Japan holds the highest share in the market. Top manufacturers across the globe have their units in the Japanese market.
Leading players in the market include House Foods Group Inc., Invigorate Foods, Hugli Holding Company, Hain Celestial, Pulmuone Co., Ltd, San Jose Tofu, and Tofurky. Companies engage in strategic merger & acquisitions and new product launches to increase their reach across the world. For example, Inviogorate Foods has launched new product called Genkiya tofu in the Indian market.
Tofu Regional Outlook (Revenue, USD Million, 2015 - 2025) • North America • U.S. • Canada • Europe • U.K. • Germany • Asia Pacific • China • Japan • Central & South America • Brazil • Middle East & Africa
Read the Latest Press Releases available with Million Insights:
• Facial Recognition Market: The global facial recognition market size is anticipated to account for USD 9.93 billion by 2027, as per a new report by Million Insights. It is estimated that the market would register 14.5% CAGR over the forecast duration.
• GRP Pipe Market: The global GRP pipes market size is estimated to reach USD 2.1 billion by 2025 and is projected to grow at a CAGR of 3.7% during the forecast period 2019 to 2025, according to a new report by Million Insights.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Grand View Research, Inc. - Market Research And Consulting.
According to report published by Grand View Research, the global inflatable pet collars market size was valued at USD 72.6 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027.
The global inflatable pet collars market is anticipated to witness a staggering growth during the forecast period. The market is likely to register a CAGR of 5.0% between 2020 and 2027. Researchers fear that plastic collars and shame of cones can cause serious mental issues and infections among pets. They also adversely affect their peripheral vision that makes dogs uncomfortable and grumpy. Kong Cloud Collar is cushy and soft, which enables dogs to take comfortable naps and can be easily deflated for storage purposes. Several other comfy cones are being recommended by veterans.
Arlee Pet Products acquired the distribution agreement and patent for its adjustable polyester fiber-filled recovery collar. Retailers like Doggie Décor, Rover Rest, and GoPets are exclusively selling inflatable recovery collars manufactured by Arlee Pet Products. Customization of materials & features and increasing innovation, keeping in mind the wellbeing of pets, are facilitating product visibility and consumers' attention. For instance, QBLEEV provides Protective Inflatable Dog E-Collor equipped with Splash Recovery is gaining traction among purchasers. It is made up of eco-friendly PVC material with a short plush outer ring. The collar has an adjustable strap, which helps in perfectly fitting the pet's neck.
Pet health is gaining significant attention amid the Covid-19 lockdown. Pet owners are calling for pet care that includes both mental and physical well-being. Veterinarians are experiencing more business worldwide as people are confined within their homes and have an extra focus on maintaining their pet health.
Key Takeaways from the report:
The dogs application segment accounted for the largest revenue share of 51.8% in 2019. The increasing number of pet dogs’ population and patrol dogs for police work is fueling the market demand. Moreover, the rising number of overweight pets who are more susceptible to injuries is attributed as the key driving factor.
The offline distribution channel held the largest share of 86.7% of the overall revenue in 2019. This can be attributed to its well-established supply chain. A significant number of purchasers prefer to explore and probe the product before buying it.
Asia Pacific is expected to witness the fastest growth during forecast years with a CAGR of 6.2% from 2020 to 2027. Demand is anticipated to grow in the region due to rising disposable income, which is leading to increasing adoption of pets in countries, such as China, Indonesia, and India
Offline distribution channel dominated the market by accounting for 86.7% share of the global revenue in 2019
The dogs application segment held the largest share of 51.8% in 2019 owing to the high adoption of pet dogs across countries.
Have Inquiry before buying about this report, our team of analyst will be glad to help!
Grand View Research has segmented the global inflatable pet collar market on the basis of application, distribution channel, and region:
Inflatable Pet Collar Application Outlook (Revenue, USD Million, 2016 - 2027)
Dogs
Cats
Others
Inflatable Pet Collar Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
Offline
Online
Inflatable Pet Collar Regional Outlook (Revenue, USD Million, 2016 - 2027)
North America
The U.S.
Europe
Germany
The U.K.
Asia Pacific
China
Japan
India
Central & South America
Brazil
Middle East & Africa
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Million Insights - World's Fastest Growing Market Research Database
According to new report available with Million Insights, the China cold chain industry research report provides insights on industry growth drivers, applications, types and prominent companies. It also offers ready, data-driven answers to several industry-level questions.
The China cold chain market is projected to value USD 27.79 billion until 2025. It is expected to register a CAGR of 10.9% over the forecasted years, 2017 to 2025. The increasing preference over the consumption of processed food products prevailing across the millennial population is projected to propel the demand for cold chain solutions and products.
The fish, meat & seafood segment dominated the market in 2016 on account of increasing demand for exotic food products such as Scottish Crabs, Alaskan black cod, and Japanese lobsters prevailing across the population of China. It is also estimated to continue its dominance in the upcoming years. On the other hand, the processed food segment also witnessed a substantial share across the market in China.
The cities like Beijing and Shanghai are witnessing a rapid increase in demand for cold chain solutions owing to the rising influence of Western food consumption habits. The other segment that includes cities like Tianjin, Shenzhen, Guangzhou, and Shandong accounted for the highest share across the market in 2016 due to the rising number of expos and international exhibitions for product launches, promotions, and demonstration.
The China cold chain market includes players such as SF Express, Articold Logistics Ltd., Swire Group, Preferred Freezer, and Americold Logistics LLC. They are constantly engaged in increasing their warehouses, distribution centers, and trucks for widening their geographical reach.
• The processed food segment is projected to witness substantial growth over the forecasted period, 2017 to 2025.
• In 2016, the application segment of fish, meat & seafood dominated the market across China.
• The other regional segment held the largest share across the market in 2016.
• The key players in this market are SF Express, Articold Logistics Ltd., Swire Group, Preferred Freezer, and Americold Logistics LLC.
Million Insights has segmented the China cold chain market on the basis of type, application, and city:
China Cold Chain Type Outlook (Revenue, USD Million, 2014 - 2025) • Storage • Warehouse • Bulk Storage • Production Stores • Ports • Refrigerated Container • 20 ft. • 40 ft. • 48 ft. • 53 ft. • Transportation • Road • Sea • Rail • Air • Monitoring Components • Hardware • Sensors • RFID Devices • Telematics • Networking Devices • Software
China Cold Chain Application Outlook (Revenue, USD Million, 2014 - 2025) • Fruits & Vegetables • Dairy • Fish, Meat, and Seafood • Processed Food • Pharmaceuticals
China Cold Chain City Outlook (Revenue, USD Million, 2014 - 2025) • Beijing • Shanghai • Other Cities (Shandong, Tianjin, Shenzhen, Guangzhou, and others)
Read the Latest Press Releases available with Million Insights:
• Durian Fruit Market: The global durian fruit market size is projected to touch USD 28.6 billion by 2025 and registering a 7.2% CAGR over the forecast period from 2019 to 2025, according to new report by Million Insights.
• Electric Guitars Market: The global electric guitars market size is projected to reach USD 1.5 billion by 2025 and registering a 3.3% CAGR over the forecast period from 2019 to 2025, according to new report by Million Insights.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Million Insights - World's Fastest Growing Market Research Database
According to new report available with Million Insights, the report on the North American heating equipment industry provides qualitative and quantitative analysis for the period from 2018 to 2025. The report predicts the North America heating equipment market to grow with a CAGR of 5.6% over the forecasted years.
The North American Heating Equipment Market size is anticipated to value USD 10.81 billion until 2025. It is also expected to register a CAGR of 5.6% over the forecasted years, 2018 to 2025. The rising number of infrastructure and construction projects coupled with the need for replacement and repair activities is expected to trigger the market growth.
The heat pumps segment held the largest share across the market and is projected to register 5.7% CAGR from 2018 to 2025 due to its increasing usage in spaces having moderate cooling and heating requirements. On the other hand, the electric furnace is expected to hold a substantial share in the upcoming years owing to their benefits like higher efficiency and low maintenance cost.
In 2017, the industrial segment dominated the market owing to its rising usage of heating equipment across aviation, marine, oil & gas, food & beverage and mining industrial sectors. It is also anticipated to witness the highest CAGR from 2018 to 2025 on account of the rising number of renovation and repair activities prevailing across several industrial sectors.
The U.S. accounted for dominant share across the North America market due to the initiatives being undertaken by governing authorities for curbing air pollution. The Canada also held second-highest share across the North American market in 2017 owing to the increasing number of players operating across provinces like Quebec and Ontario.
The North America heating equipment market includes key players such as Nortek Holdings; Johnson Controls; Whirlpool Corporation; Siemens Corporation; Daikin Industries Ltd.; and Danfoss. They are constantly investing in R&D activities for product development and innovation to gain a competitive advantage and to widen their geographical reach.
• The residential application segment is anticipated to register a CAGR of 5.3% over the forecasted years, 2018 to 2025.
• The application segment of industrial dominated the market in 2017.
• In 2017, the U.S. accounted for dominant share across the North America market.
• The key players in this market are Nortek Holdings; Johnson Controls; Whirlpool Corporation; Siemens Corporation; Daikin Industries Ltd.; and Danfoss.
Million Insights has segmented the North American heating equipment market on the basis of product, application and region:
North America Heating Equipment Product Outlook (Revenue, USD Million, 2014 - 2025) • Heat Pump • Furnaces • Boilers • Unitary Heaters
North America Heating Equipment Application Outlook (Revenue, USD Million, 2014 - 2025) • Residential • Commercial • Industrial
North America Heating Equipment Regional Outlook (Revenue, USD Million, 2014 - 2025) • North America • The U.S. • Canada • Mexico
Read the Latest Press Releases available with Million Insights:
1. U.S. Automotive Collision Repair Market – The United States automotive collision repair market size is anticipated to account for USD 37.60 billion by the end of 2025, according to the Million Insights. It is likely to exhibit 1.5% CAGR over the forecast duration.
2. North America Industrial Insulation Market - The North America industrial insulation market size is estimated to touch USD 2.55 billion by the end of 2025 and is anticipated to register a compound annual growth rate of 4.0% from 2018 to 2025, according to a new report published by Million Insights.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Grand View Research, Inc. - Market Research And Consulting.
The global used car market size was valued at USD 1,332.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027.
The global used car market size is expected to reach USD 2,150.6 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. Rising technological advancements such as the implementation of digital technology in the market and the use of artificial intelligence to improve online buying experience are expected to boost the market demand over the forecast period. Furthermore, the growing adoption of used electric and hybrid cars has become one of the noticeable trends in the last few years. The increased number of new Electric Vehicle (EV) and hybrid cars registered over the last few years is now flowing through into the market. For instance, European countries such as Germany, the U.K., Spain, and Austria have registered significant volume sales for petrol, EVs, and hybrid vehicles.
Globally, the growth of online sales channels also changed the overall consumption of the used cars. As online automotive retailing accounts for the small percentage of total used car sales, there is a significant growth potential for this segment. Moreover, automotive dealers use their websites as a sales and marketing generation channel to drive buyers to the showroom floor where the consumers complete the purchase. However, nowadays, consumers are looking for eCommerce options for the entire purchase. Also, there is a rise in the number of digital sellers such as Vroom; Carvana Inc.; eBay Motors; and Shift Technologies Inc. that specifically cater to online vehicle buyers, and increase the competitiveness of the market.
Escalating investment in the SUV segment is also one of the key reasons which cater to the demand traction in the market. Luxury brands have invested in launching vehicles in the SUV segment to add to their existing sports collection inventory. With the availability of the supply chain network of second-hand cars in the market, there is huge traction expected in terms of volume sales in the market. Additionally, the significant change in people transporting habits such as opting for individual mobility with their own vehicle is expected to create a great upsurge in the market.
Further, the COVID-19 outbreak will increase the demand for compact and mid sizes cars at affordable prices. With the fear of getting infected, people are opting for private transportations rather than public transportation. This is one of the key driving factors for the used car sales in this pandemic period and aftermath. Furthermore, one of the notable phenomena emerging nowadays is the sales of petrol vehicles as fossil fuels are cheaper with the outbreak. Also, the impact of COVID-19 is clearly visible in the automotive industry with the sales surge in the market for used cars despite plummeted growth in the new car sales segment. The majority of the customers are looking for more affordable means of transport that would be safe, and reasonable to buy (both ergonomically and economically). With employment uncertainties and variable cash flows in the economies, individuals would prefer used cars over new cars.
Key suggestions from the report:
Digitally generated leads with online sales channels are expected to attain prominence, and the brick and mortar/offline dealerships are expected to remain under severe pressure due to the COVID outbreak
The organized dealership is expected to withstand the demand for a used car and eventually expected to hold a major market share
Data analytics tools and artificial intelligence are assisting non-banking financial companies to bring ineffectiveness in the underwriting process. Used car dealers with this opportunity are tying up with the financial agencies, and this process will further help to make loans easily available for customers
The Asia Pacific market for used cars is expected to have significant growth over the forecast period, majorly due to the increasing supply base and demand for affordable used cars
The key market players are Alibaba Group (Alibaba.com); Asbury Automotive Group; Cox Automotive; TrueCar, Inc.; Hendrick Automotive Group; Group 1 Automotive Inc.; and eBay Inc.
Grand View Research has segmented the global used car market based on vehicle type, vendor type, fuel type, size, sales channel, and region:
Used Car Vehicle Type Outlook (Shipment, Million Units; Revenue, USD Billion, 2016 - 2027)
Hybrid
Conventional
Electric
Used Car Vendor Type Outlook (Shipment, Million Units; Revenue, USD Billion, 2016 - 2027)
Organized
Unorganized
Used Car Fuel Type Outlook (Shipment, Million Units; Revenue, USD Billion, 2016 - 2027)
Diesel
Petrol
Others
Used Car Size Outlook (Shipment, Million Units; Revenue, USD Billion, 2016 - 2027)
Compact Car
Mid-Sized
SUV
Used Car Sales Channel Outlook (Shipment, Million Units; Revenue, USD Billion, 2016 - 2027)
Offline
Online
Used Car Regional Outlook (Shipment, Million Units; Revenue, USD Billion, 2016 - 2027)
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Spain
Asia Pacific
China
Japan
India
South America
Brazil
The Middle East and Africa (MEA)
List of Key Players of Used Car Market
Alibaba.com
Asbury Automotive Group
AutoNation Inc.
CarMax Business Services, LLC
Cox Automotive
eBay Inc.
Group 1 Automotive Inc.
Hendrick Automotive Group
LITHIA Motor Inc.
Scout24 AG
TrueCar, Inc
Find more research reports on Automotive & Transportation Industry, by Grand View Research:
Automotive Wheels Aftermarket - The automotive wheels aftermarket size was valued at USD 5.79 Billion in 2018. The market is expected to register a CAGR of 3.0% from 2019 to 2025.
In-car Infotainment Market - The global in-car infotainment market size was valued at USD 17,181.7 million in 2018 and is expected to register a CAGR of 12.6% from 2019 to 2025.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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According to new report available with Million Insights, the global razor market size was accounted for USD 10.2 billion, in 2018 and is anticipated to grow at a CAGR of 3.5% over the forecast period, 2019 to 2025. The report includes in-depth market analysis by recent technologies, market size, share, trends, opportunities, challenges, key players and business strategies considering types, segment and future analysis
The global Razor Market size is projected to touch USD 13 billion by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 3.5% through the forecast period of 2019-2025. Increasing awareness of consumers regarding personal hygiene and a rapidly increasing market of men’s grooming products have been driving the product demand over the years.
Electric shavers are anticipated to grow at the fastest CAGR of 4.3% over the forecast period. Availability of both local and international brands, from Braun and Philips to Indian brands like Nova and Syska, is the major factor driving this segment. In countries such as U.S., Germany and U.K. the personal care industry is fast-growing and the demand for such products is expected to increase in both genders.
Disposable razors held a market share of 33.6% in 2018 and the demand for this product would continue growing owing to increasing usage of the product in developing countries like Brazil, India and Sri Lanka. Availability of domestic brands and reasonable price of the product are the major factors driving the product demand in these countries.
In consumer segment, men dominated the market, while women segment is anticipated to grow at a CAGR of 3.9% over the forecast period. Growing consciousness of women regarding beauty and personal care along with strong influence of changing fashion trends are some of the major factors driving this consumer segment. Consumer preference in dermatology and beauty clinics for various treatments is increasing owing to wide usage of shaving razors as they offer a non-surgical and cheaper alternative. For example, Gillette Venus is a popular razor choice among Indian women for regular use since its inception.
The online distribution channel is anticipated to grow at a CAGR of 3.9% over the forecast period. Strongly established consumer base of online apps and stores like Nykaa, Amazon and Purplle has contributed significantly to the growth of this segment. Increasing number of internet users, availability of wide range of products, striking offers & discounts and easy to access, are the prime factors driving product sales via online distribution channels.
North America ruled the razor market with 32% share, in 2018 and is projected to grow steadily over the upcoming years due to the presence of eminent manufacturers like P&G. The availability of a wide-range of technologically advanced products and increasing awareness of consumers regarding personal grooming has resulted in driving the product demand in this region. Increasing use of electric trimmers across salons and homes in U.S. for quick and effective results is one of the major factors attributing to the dominance of the regional market.
The major players in the razor market include Koninklijke Philips N.V.; The Procter & Gamble Company; Harry’s Inc.; Supermax Limited; Societe BIC S.A. (BIC); Doroco Co. Ltd.; and Edgewell Disposable Company. A number of leading brands have started offering subscription services to keep up with the ongoing trends in the industry. These services include promoting technologically advanced razors along with lower-end products. Some companies have also adopted go-to strategies like extending their product line to earn profit. For example, Harry’s started making products for feminine body hair care after serving men’s grooming products for a long time.
• Cartridge razors held 38% of the total market share in 2018 and is anticipated to show significant growth over the forecast period
• North America held the largest market share amongst all the regions and is estimated to be worth of USD 4.1 billion by 2025
• Asia Pacific region is projected to be the largest and fastest developing market, growing at a CAGR of 4.2% over the forecast period
• Rising preference towards affordable hair removal solutions in countries like Brazil, India and China has been driving the product demand. Rising buying power of consumers in this region is also significantly contributing in driving the market growth
• The presence of domestic and international players makes the market highly competitive in nature. Major players functioning in the market include Koninklijke Philips N.V.; The Procter & Gamble Company; Harry’s Inc.; Supermax Limited; Societe BIC S.A. (BIC); and Edgewell Disposable Company
Million Insights has segmented the global razor market on the basis of product, consumer, distribution channel, and region:
Razor Product Outlook (Revenue, USD Billion, 2015 - 2025) • Cartridge • Disposable • Electric
Razor Consumer Outlook (Revenue, USD Billion, 2015 - 2025) • Men • Women
Razor Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025) • Supermarkets and Hypermarkets • Convenience Stores • Online
Razor Regional Outlook (Revenue, USD Billion, 2015 - 2025) • North America • U.S. • Europe • Germany • U.K. • Asia Pacific • India • China • Central & South America • Brazil • Middle East & Africa • Saudi Arabia
Read the Latest Press Releases available with Million Insights:
1. Video Management Software Market – The global video management software market is expected to attain USD 4.79 billion, by the end of 2025, and is anticipated to grow at the CAGR of 18.8% during the forecast period, 2019 to 2025, according to a new report by Million Insights.
2. Utility Truck Market- The global utility trucks market size is projected to account for USD 127.46 billion in 2030, according to a new report published by Million Insights. The market is estimated to register 7.7% CAGR from 2018 to 2030.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Grand View Research, Inc. - Market Research And Consulting.
According to report published by Grand View Research, the global surgical laser market size was valued at USD 4.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.1% from 2020 to 2027.
The global Surgical Laser Market size is expected to reach USD 11.4 billion by 2027, expanding at a CAGR of 11.1%, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic conditions such as Benign Prostatic Hyperplasia (BPH) combined with the efforts of several market players to develop laser technologies in order to improve surgical outcomes including reduced turnaround time and minimal hospital stay are the factors driving the market. According to the American Urological Association (AUA), the prevalence of BPH increases with age, with 8.0% in men aged between 31 - 40, to 45.0% in those aged 51 to 60 years and 80.0% in men above 80 years. Also, in August 2018, OmniGuide Holdings acquired Lisa Laser Products, a Germany-based company, which develops lasers for urological applications.
Increasing provisions to address multiple applications through product development, in the field of aesthetics as well as surgery is likely to expand the application in multiple specialties. For instance, in September 2018, Syneron Candela acquired Ellipse, a developer of laser platforms for medical and aesthetic dermatologic applications, in order to strengthen its position in the market.
North America accounted for the largest share in 2019 owing to increasing preference for minimally invasive surgical procedures and rising prevalence of chronic diseases in the geriatric population
By product, gas laser systems are expected to register the highest CAGR during the forecast period
By application, the aesthetics segment is expected to register the highest market share owing to the increasing availability of cost-effective devices and rising demand for various cosmetic procedures such as resurfacing, rejuvenation, and vascular lesions
By end-use, the hospital segment accounted for the largest market share as these medical settings incorporate innovative systems for enhancing patient outcomes
Market players are adopting several strategies such as strategic acquisitions to cater to the increasing patient demand and gain a significant share in the global market.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
