Market Forecast By Countries (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain, And Turkey), By Product (Excavators, Loaders, Dump Trucks, Others), By Application (Construction, Mining, Agriculture & Forestry, Others), And Competitive Landscape According to 6Wresearch, Middle East Earthmoving Equipment Market size is anticipated to witness growth during 2021-2027. Recent initiatives taken by governments of several countries to revive the region’s economy from a worldwide crisis would support the growth of the Earthmoving Equipment market in the Middle East region. For instance, the UAE Central Bank has allocated incentives for SMEs and local banks to revive and develop the construction sector of the region. Additionally, the central bank also declared to offer incentives through collateralized loans at zero cost to all banks operating in the UAE, as well as an additional incentive that would be freed up from lenders’ capital buffers. Mobile cranes and earthmoving equipment do
According to 6Wresearch, Asia Pacific (APAC) Brandy Market size is anticipated to register growth during 2020-26. The consumption of brandy is highest in India, especially in the South region. The second largest consumption market in the region is the Philippines, further which is followed by Russia, the United States and Germany. A noticeable trend in this market is, the rising demand for premium drinks has driven the expansion. Increasing e-commerce penetration is fuelling the growth of the brandy market. However, the market is impeded due to growing competition from other spirit manufacturers. China being one of the major producers has enjoyed the benefits of an expanding market for production and distribution, the industry is suffering from minimal innovation and investment in R&D and new product development. The sectors economies of scale have yet to be achieved. Most domestic manufacturers lack the autonomic intellectual property and financial resources to develop their brand name products. Furthermore, the recent outbreak of COVID - 19 made the industry suffer a hit as there is a cut in spending. The market is currently registering negative growth owing to the imposition of lockdowns by governments of several countries and the temporary closure of bars and restaurants. This has led to a decline in the on-premises consumption of brandy globally.
Key Highlights
- Asia Pacific Brandy Market Outlook
- Asia Pacific Brandy Market Overview
- Asia Pacific Brandy Market Forecast
- Market Drivers and Restraints
- Asia Pacific Brandy Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- North America Brandy Market Share, By Players
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