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How Impacted COVID-19 on U.S. Shale Gas in Chemical Industry ?
Impact of COVID-19 on U.S. Shale Gas in Chemical Industry INTRODUCTION Shale gas and shale oil are defined as natural gas & oil from shale formations. Shale is a type of sedimentary rock that is made up of very small clay particles and is highly porous in nature. It is formed in deep ocean water, lagoons, wetlands, and swamps where the water is still enough for extremely fine clay and silt particles to settle to the bottom. Since shale is a porous formation, it serves as both a source and a reservoir for unconventional hydrocarbons. The extraction of oil and gas from a shale formation involves mechanical stimulation. One such technique for stimulation is hydraulic fracturing or fracking. In the fracking process, cracks in and below the Earth's surface are opened and widened by injecting water, chemicals, and sand at high pressure. The combination of horizontal drilling and hydraulic fracking has made it possible to access vast quantities of shale gas that were previously uneconomical to generate. Natural gas output from shale deposits has given the United States natural gas industry a new lease on life. The demand for safe access to energy sources is growing globally. Shale oil and gas have played an important role in meeting global energy demand during the energy revolution and are expected to continue to do so for decades as society transitions to lower-carbon energy sources. The rapid growth of shale oil and gas contributes to increased supply stability and lower commodity prices. According to the United States Energy Information Administration (EIA), in the year 2011, the country’s estimated available natural gas resources totaled 2,552 trillion cubic feet (Tcf). Natural gas from shale deposits, which was once considered to be uneconomical, accounted for 827 Tcf of this resource total. In the year 2020, U.S. dry shale gas production was about 26 trillion cubic feet (Tcf), and equal to about 78% of total U.S. dry natural gas production. IMPACT OF COVID-19 ON U.S. SHALE INDUSTRY Shale oil and gas exploration have, in particular, given the US oil and gas industry new dimensions of development. It has also fueled significant investment in associated infrastructure for gathering, storing, and delivering hydrocarbons to both domestic and foreign markets. In less than a decade, the US shale industry turned the global energy landscape upside down and re-established the US as the global energy leader. The onset of a global pandemic and subsequent drop in oil prices, on the other hand, has taken the momentum out of the shale boom. Due to a sudden drop in demand, the shale industry has immediately self-corrected. Many oil and gas players succumbed to the economic shock resulted from the CoVID-19 and filed for bankruptcy. Chesapeake Energy, a shale leader and once second-largest gas producer in the United States, filed for Chapter 11 bankruptcy protection in late June. According to the United States Energy Information Administration (EIA), the crude-oil output from seven major shale formations in the United states fell by around 56,000 barrels per day (BPD) in August 2020 to just under 7.5 million BPD, which would be the lowest level in two years. The shale industry is closely looped in with the oil and gas industry. The recent downfall of the oil and gas industry during the pandemic has had a severe impact on shale output. Post pandemic, the shale industry peaked, but the industry as a whole lost money. Since 2010, the US shale industry has produced USD 300 billion in net negative free cash flows, damaged more than USD 450 billion in invested capital, and seen more than 190 bankruptcies. With the advent of the coronavirus, the future for shale producers has become even bleaker, with a new bankruptcy filing occurring every week or so in the last few months. The pandemic's effects will be felt far beyond the US shale industry. Despite accounting for less than 10% of global oil and gas output, US shale oil extraction activity accounts for 40% of global shale oil extraction activity and accounts for nearly 100% of the growth in US midstream and export-oriented refining and petrochemical sectors over the last decade. STRATEGIC INITIATIVES DURING COVID-19 · Organization of the Petroleum Exporting Countries (OPEC) agreed on a continuation of March production levels for the month of April, with the exception of Russia and Kazakhstan, which will be authorized to increase production by 130,000 and 20,000 barrels per day, respectively, at their most recent meeting · Saudi Arabia has also agreed to extend its one-million-barrel-per-day voluntary cut for the month of April. · Companies such as Chevron, Shell, Schlumberger, and others have taken initiatives to safeguard their workforce in the ongoing pandemic situation. CONCLUSION On Conclusion, the pandemic has placed the shale industry in a delicate spot as major players are forced to cut down the output. The potential energy landscape in the United States and around the world is highly complex, and its drivers are interconnected. In the not-too-distant future, a wave of consolidation in the US shale industry could be triggered by the poor financial position of many firms and the weak economic outlook. The continuous demand for a ban on fracking, coupled with the effect of COVID, has cracked the shale industry severely. Although, the historic evidence indicates that the shale producers operate more economically. In comparison to 2019, producers in the Permian Basin are saving roughly 20% on good costs.
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Impact of COVID-19 on Mini Cranes Market in Semiconductors & Electronics Industry
COVID-19 Impact on Mini Cranes Market in Semiconductors and Electronics Industry ANALYSIS ON IMPACT OF COVID-19 ON MINI CRANES MARKET The COVID-19 pandemic has influenced the whole planet with its significant impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the most significant medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries and the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East and Africa up to South America. The COVID-19 has been declared a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown, such as India, China and other Asian countries, to decrease its spread. The economies have been affected adversely as most of the trade and economic activities came to a halt. The unemployment rate has grown due to the impact and the global GDP fell by -3.5%. According to the situation report of 7th June 2021 by World Health Organization (WHO) stated 174 million cases of corona had been reported globally and 3.7 million patients are dead due to the coronavirus. On a slightly positive note, 157 million people have recovered and a total of 1.9 million vaccine doses have been administered as well. A crane is a machine used to lift and move heavy loads, machines, materials and goods for various purposes. They are used in all different industry sectors, from construction to manufacturing to shipbuilding and material loading. Cranes are common along skylines as they are necessary to build the skyscrapers we so often see in our cities. Mini cranes are relatively small cranes that can move through passages and can be used indoors. Some are also battery-powered and are remote-controlled. These are used indoors for lighter weights of around one tonne. The mini cranes can range from a straightforward lever pulley system to be mounted to a full-fledged machine with a motor and retractable boom for extended reach and mobility. Some mini-cane manufacturers are Hoeflon International B.V., Jekko s.r.l. and MAEDA SEISAKUSHO CO.,LTD. among others IMPACT ON DEMAND AND SUPPLY The mini crane companies have been affected severely as the demand for new cranes has gone down as the construction work has been halted in the pandemic due to the lockdown imposed by most countries. The companies also supply cranes on a rental basis which has seen a decline, but some crane rental services could secure essential services categories based on the clients. As seen from the graph below, the used cranes sold in 2020 saw a decline, but the decline was not steep as the cranes are used, which states that the demand for cranes rose in the last quarter of the year but due to the lack of availability of new cranes and cost cuttings companies turned to used cranes. This demand is driven by a lack of new crane availability and price increases due to higher raw material costs and supply chain delays. For instance, · In September 2020, Kate Lampson, director of PR and communications at Lampson International, stated that due to the type of customers they have and the industries that we service, Lampson International was deemed an essential business initially of the pandemic. Since then, they have been able to remain open and run the business as usual. In terms of upcoming projects, most current and future projects have stayed on schedule, with only a couple seeing delays. IMPACT ON PRICE With used crane sellers experiencing high demand, the supply can be an issue. At Bigge, they have also seen an increase in the price of used cranes. Kraaijeveld finds that there is currently an oversupply of used cranes in the Middle East, especially crawlers, due to delays and cancellations of oil and gas projects and a lower number of infrastructure projects. Prices dropped in June 2020 but rebounded in March 2021. The pricing of used equipment is up 7.8% and is predicted to climb past pre-pandemic levels, as stated by Ganzell. The internet has transformed the crane auctions market, with online sales growth for years. Ritchie Bros. said that before 2020, 70% of its global auction sales were already taking place online and only 30% were onsite in its auction theatres. But the pandemic has accelerated the transition. STRATEGIC INITIATIVES TAKEN BY MANUFACTURERS The COVID-19 has hit the infrastructure industry and halted all the work abruptly in which the rental and new crane demand saw a steep decline at the start of the pandemic. This meant that the rental cranes have to be returned and new purchases were halted. The rental cranes had to be replaced and set up again if and when the work resumed to reduce costs. The government provided support in the form of investment in infrastructure and some service providers also received the essential services category, so they were able to continue the work. For instance, · The mobile crane market in Australia and New Zealand performed well in 2020, despite the direct and indirect effects of the pandemic. In the case of Australia, the government has played a vital role in Sotiris Kanaris's reports. Apart from the effectiveness of its policies that allowed the economy to restart reasonably quickly, the Australian government's investments in infrastructure also had a positive effect on the crane market. Through the strategy, the government says that approximately USD 1.50 billion in new funding will be invested over the next four years to make Australian manufacturers more competitive, resilient and able to scale up to take on the world. · Abu Dhabi, UAE-headquartered NFT specializes in the sale and hire of tower cranes. In September 2020, Nagham Al Zahlawi, deputy general manager at NFT, said: "The COVID-19 has delayed a lot of projects, has put some significant tenders on hold and most importantly has delayed payments from clients. From April to May, 90% of our clients have either stopped paying or requested to re-negotiate rates agreed upon and signed before the pandemic hit or have asked us to remove the months where there was a lockdown. CONCLUSION The pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players and consumers can win the fight against COVID-19. The mini cranes market, majorly driven by the infrastructure projects, was impacted at the pandemic's start due to the lockdown imposed. Some rental crane service providers having the essential services category were able to survive the situation. As seen from the instance, various governments all over the globe are helping the market by investing in infrastructure. The demand for the mini cranes market is steadily rising as the projects are resumed and should stabilize soon.
How COVID-19 Impacted Additive Manufacturing Market in Pharmaceutical Industry ?
COVID-19 Impact on Additive Manufacturing in Pharmaceutical Industry The outbreak of Coronavirus has caused many industries to change the way they operate, and manufacturing industry is no exception. Also, the rise in demand of antiviral drugs was observed along with decrease in demand of drugs for other ailments. The European Fine Chemical Group estimated that 80% and upward of chemicals used in the making pharmaceuticals sold in the Europe region originate from China and India. Everyday millions of patients rely on drugs manufactured and supplied by pharmaceutical industries; shortage of any particular medicine may create chaos. Manufacturers served throughout the pandemic and are still operating to prevent such turmoil. IMPACT ON DEMAND The Coronavirus led to the widespread closure of local manufacturing plants and companies and has badly affected the various region of world. Due to extensive lockdown and isolation the economic activity has affected adversely which has impacted the global economic activity. Manufacturers began to diversify sourcing of raw materials along with investment in spreading production in different regional markets instead of concentrated markets such as India and China. Likely to be long term effect is reindustrialization of pharmaceutical production in countries such as the United States and Europe in order to minimize dependency on imported products, this would lead to rise in demand of additives in above mentioned countries. Moreover the increasing cases of COVID-19 have also paved the way for enhanced demand of additives but due to movement restrictions same decrease in sales was recorded. For instance, · In January 2021, BASF SE had no indication of any major effect on the global activities and supply chain of our BASF Nutrition & Health sector comprising of BASF Pharma Solutions, BASF Animal Nutrition, BASF Human Nutrition, BASF Enzymes and BASF Fragrance Ingredients owing to the COVID-19 pandemic. · In 2020, DuPont de Nemours, Inc. recorded decrease in earning of excipients sales, which belonged to Nutrition and Biosciences segment. This thus signifies that increasing prevalence of COVID-19 poses a life threatening effect to various types of patients already suffering from several kinds of disease among the most recent known COVID-19 pandemic. Thus the demand of effective treatment option that is antiviral drug has enhanced the supply for short term. This thus demonstrates that COVID-19 is accelerating the demand of additive market. PRICE IMPACT Throughout year 2020 the COVID-19 pandemic caused economic turmoil globally, the pharmaceutical industry in particular had to adapt quickly to minimize the impact on its operations and supply chain of drugs worldwide. Raw materials and additives rates have increased due to reduced supplies and delayed manufacturing plans, and shut downs in some countries. The price of additives and raw materials has increased during the COVID-19 pandemic due to numerous air travel restrictions and inefficiency to supply products. For instance, · The shortage has begun to affect API and bulk prices in trades, the average increase in India was reported to be about 10-15%, and is estimated to reach 50% in some cases. · WACKER Chemie AG a Germany based company is about to raise its prices for dispersions and solid resins in Europe, Africa and Middle East region stating that this measure has been necessitated by rise in price of raw materials cost in market. · The Edelweiss Securities predicted that COVID-19 pandemic would cause severe supply disruptions in pharma sectors causing earing cuts by 15%. But globally pharma companies are performing well, in short term most companies are expected to bounce back in five years. This thus signifies that due to COVID-19 pandemic the price of additives used in pharmaceutical productions have increased due to Coronavirus outspread. IMPACT ON SUPPLY As COVID-19 spreading began in China the surge of medicines has been enhanced due to increasing patient’s volume which put a pressure over the supply of pharmaceutical additives. Moreover the COVID-19 pandemic has changed the business environment for more organizations across the globe. Around the world many companies are hugely reliant on supplies and production in China. However the market players are adopting several initiatives in order to maintain a continuous supply of additives. For instance, · As per the news of September, 2020 this has been suggested that Sandoz is working closely with the Association for Accessible Medicines in order to enhance the global pharmaceutical supply chain. · In 2020, Ashland which is an essential supplier, their supply chain continued to operate safely receive, process and ship specialty products during COVID-19. · As per November 2020 Merck KGaA a company specialized in additives and chemicals stated that it continued to leverage their business continuity plans including risk mitigation activities, accelerated investments and adjusted production schedules for few high demand products. · According to the news of March 2020, Roquette Frères stated that they are working in order to minimize the COVID-19 impact on its supply chain. · As per February 2020, FDA closely monitored supply chain with the possibility of potential disruptions in supply of critical medical products in the U.S. Manufacturers alerted FDA about recently added drugs in drugs shortage list. · DFE Pharma claims that their continued production and supply during the pandemic was not affected in Netherlands, India, Germany and New Zealand. Apparently due to COVID-19 effects on global transport industry the shipping companies are charging more than usual. This suggests that increasing prevalence of COVID-19 poses threat for maintaining a continuous supply chain of additives while initiative adopted by market players allows them to manage a continuous supply chain. STRATEGIC DECISIONS OF MANUFACTURERS Additive manufacturing companies are taking so many strategic decisions in order to cope up with the current scenario of COVID-19 pandemic. The companies engaged in manufacturing of additive manufacturers are collaborating so as to accelerate the market growth. Companies have already taken several kinds of strategic initiatives in order to cope up with the Coronavirus situation. Strategic initiatives by market players such as Dow, Ashland, Kerry, BASF SE among others in the market will help them to expand their network and supply chain. This in turn will lead to increasing product sales and hence will enhance the overall company’s revenue. For instance, · In May 2020, Dow during the COVID-19 pandemic was working closely with government officials and medical professionals, using guidance to adjust plans as warranted. · In April 2020, the U.K.’s Medicines and Healthcare Products Regulatory Agency (MHRA) published guidelines on Exceptional GMP flexibilities which allow manufacturers to increase their production capability to minimize risk of product shortage using quality risk management principles and to navigate through international travel restrictions imposed due to COVID-19. · In April 2020, Lubrizol enabled 1 Billion bottles of hand sanitizer globally every month to increase its Carbopol polymer production, which is used as a thickener. The increasing demand and sales of antiviral drugs are fuelling the growth of additive manufacturing in pharmaceutical market. Thus, companies operating in the additive manufacturing in pharmaceutical market are adopting several strategies, including agreements, market expansion to enhance their business. These strategic decisions by the market players helped them to attain a lucrative growth even during the COVID-19 pandemic. CONCLUSION As the pandemic of COVID-19 has resulted in several restrictions throughout the borders but still manufacturers of additive manufacturing in pharmaceutical are able to manage their stocks. The demand and supply of pharmaceutical products increased rapidly due to given medical emergency. Drug shortage caused due to the pandemic is expected to remain limited this way for a short period, also if the pandemic exceeds the shortage of pharmaceutical APIs, chemicals and additives may persist on causing shortage of supply in long run. This would also effect complications in distribution especially due to population movement restrictions across the globe. Various manufacturers are continuously engaging in constantly monitoring the supply chain so as to attain a lucrative growth. The activities and certain changes from COVID-19 would reduce dependency of private pharmaceuticals on alone suppliers such as China.
Cung cấp, lắp đặt kệ kho vải cuộn chất lượng, giá rẻ
Ngành may mặc Việt Nam trong những năm gần đây ngày càng phát triển và dần chinh phục các thị trường trong và ngoài nước. Quy mô sản xuất ngày càng lớn kéo theo nhu cầu lưu trữ nguyên liệu vải ngày càng cao. Vì vậy, nhiều kho hàng được xây dựng để đáp ứng nhu cầu chứa vải cuộn làm nguyên liệu cho nghành may mặc. Để giúp bạn có được sự lựa chọn đúng đắn nhất, kệ kho trung tải mang đến các giải pháp kệ chứa vải sau. Những mẫu kệ chứa vải hiệu quả nhất được các doanh nghiệp lựa chọn Hầu hết các loại kệ hạng nặng, kệ trung tải đều có thể sử dụng để chứa hàng hóa vải cuộn cũng như thành phẩm của ngành may mặc. Tuy nhiên để đảm bảo tính ưu việt và tận tối đa của kệ chứa hàng mà các doanh nghiệp hiện nay đang sử dụng 4 loại kệ dưới đây trong các kho chứa vải cuộn cũng như các thành phẩm. 1. Kệ Selective cho kho vải lớn Kệ Selective được sử dụng phổ biến trong các kho vải lớn. Chúng phù hợp với những doanh nghiệp cần lưu trữ một lượng lớn cuộn vải. Bên cạnh đó, loại kệ này chứa được nhiều chủng loại hàng hóa, chúng sẽ là sựa lựa chọn tuyệt vời cho những nhà máy sản xuất đa dạng các mặt hàng vải, quần áo hay thời trang. 2. Kệ Drive In lưu trữ lượng lớn vải đồng nhất Nếu doanh nghiệp chỉ cần lưu trữ một chất liệu vải duy nhất, kệ Drive In sẽ là sự lựa chọn tối ưu. Mật độ chứa hàng của loại kệ này rất cao, có thể tận dụng đến 70% diện tích kho, do giảm tối đa không gian dành cho lối đi. Tuy nhiên, khả năng tiếp cận vải của chúng rất kém, nên chỉ phù hợp với một số doanh nghiệp sản xuất và sử dụng một loại vải. 3. Kệ kho trung tải chứa vải quy mô nhỏ Kệ trung tải mang ưu điểm tương tự như kệ Selective nhưng có tải trọng thấp hơn (tối đa là 900 kg/tầng). Thiết kế của chúng có sẵn mâm tole nên bạn có thể đặt trực tiếp vải lên kệ mà không phải dùng pallet. Kệ chứa vải này thường được sử dụng để lưu trữ các cuộn vải nhỏ, giúp tiết kiệm chi phí thay vì phải sử dụng kệ chứa hàng lớn. 4. Kệ thép V cho kho hàng nhỏ Đối với những kho hàng có quy mô nhỏ hơn, số lượng vải cần lưu trữ ít, có thể sử dụng kệ thép V. Tải trọng của chúng lên đến 150 kg/tầng, dễ dàng đáp ứng nhu cầu chứa hàng của doanh nghiệp. Ngoài ra, loại kệ chứa vải này dễ dàng tháo lắp và di chuyển, giúp bạn thay đổi kết cấu và vận chuyển chúng khi cần thiết. Đây là một trong những mẫu kệ kho phổ biến nhất trong các kho hàng dân dụng hiện nay. Ngoài sử dụng trong việc lưu trữ hàng hóa trong các kho hàng thì kệ còn được sử dụng với chức năng trưng bày hàng hóa. Lắp đặt kệ kho vải cần chú ý những vấn đề gì Trên đây là 4 loại kệ để vải tối ưu nhất cho không gian lưu trữ cho nhà kho sản xuất trong ngành may mặc. Mỗi loại kệ tùy theo không gian lưu trữ và kích thước thiết kế sẽ có cách tính giá khác nhau. Onetech dựa vào những thông tin bạn cung cấp như: mặt bằng kho, kích thước vải bạn lưu trữ, thông số pallet… để tìm phương án xây dựng tối ưu nhất cho kho hàng của bạn. Chúng tôi sẽ tiến hành tư vấn, lập bản vẽ và báo giá cụ thể. Chính vì nguyên nhân này nên các sản phẩm của Onetech không có giá niêm yết cụ thể. Tuy nhiên, để tạo điều kiện cho khách hàng dễ hình dung và ước tính chi phí đầu tư, chúng tôi cung cấp mẫu báo giá để các bạn có thể tham khảo. Báo giá tham khảo một số mẫu kệ dùng trong kho chứa vải Kệ kho Selective: 2.400.000 – 10.000.000 Kệ Double Deep: 2.900.000 – 12.000.000 Kệ kho Drive In: 2.400.000 – 11.000.000 Kệ v lỗ: 460.000-1.600.000
Impact of COVID-19 on Mini Cranes Market | Semiconductors & Electronics Industry ?
Impact of COVID-19 on Mini Cranes Market in Semiconductors and Electronics Industry ANALYSIS ON IMPACT OF COVID-19 ON MINI CRANES MARKET The COVID-19 pandemic has influenced the whole planet with its significant impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the most significant medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries and the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East and Africa up to South America. The COVID-19 has been declared a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown, such as India, China and other Asian countries, to decrease its spread. The economies have been affected adversely as most of the trade and economic activities came to a halt. The unemployment rate has grown due to the impact and the global GDP fell by -3.5%. According to the situation report of 7th June 2021 by World Health Organization (WHO) stated 174 million cases of corona had been reported globally and 3.7 million patients are dead due to the coronavirus. On a slightly positive note, 157 million people have recovered and a total of 1.9 million vaccine doses have been administered as well. A crane is a machine used to lift and move heavy loads, machines, materials and goods for various purposes. They are used in all different industry sectors, from construction to manufacturing to shipbuilding and material loading. Cranes are common along skylines as they are necessary to build the skyscrapers we so often see in our cities. Mini cranes are relatively small cranes that can move through passages and can be used indoors. Some are also battery-powered and are remote-controlled. These are used indoors for lighter weights of around one tonne. The mini cranes can range from a straightforward lever pulley system to be mounted to a full-fledged machine with a motor and retractable boom for extended reach and mobility. Some mini-cane manufacturers are Hoeflon International B.V., Jekko s.r.l. and MAEDA SEISAKUSHO CO.,LTD. among others STRATEGIC INITIATIVES TAKEN BY MANUFACTURERS The COVID-19 has hit the infrastructure industry and halted all the work abruptly in which the rental and new crane demand saw a steep decline at the start of the pandemic. This meant that the rental cranes have to be returned and new purchases were halted. The rental cranes had to be replaced and set up again if and when the work resumed to reduce costs. The government provided support in the form of investment in infrastructure and some service providers also received the essential services category, so they were able to continue the work. For instance, · The mobile crane market in Australia and New Zealand performed well in 2020, despite the direct and indirect effects of the pandemic. In the case of Australia, the government has played a vital role in Sotiris Kanaris's reports. Apart from the effectiveness of its policies that allowed the economy to restart reasonably quickly, the Australian government's investments in infrastructure also had a positive effect on the crane market. Through the strategy, the government says that approximately USD 1.50 billion in new funding will be invested over the next four years to make Australian manufacturers more competitive, resilient and able to scale up to take on the world. · Abu Dhabi, UAE-headquartered NFT specializes in the sale and hire of tower cranes. In September 2020, Nagham Al Zahlawi, deputy general manager at NFT, said: "The COVID-19 has delayed a lot of projects, has put some significant tenders on hold and most importantly has delayed payments from clients. From April to May, 90% of our clients have either stopped paying or requested to re-negotiate rates agreed upon and signed before the pandemic hit or have asked us to remove the months where there was a lockdown. · IMPACT ON PRICE · With used crane sellers experiencing high demand, the supply can be an issue. At Bigge, they have also seen an increase in the price of used cranes. Kraaijeveld finds that there is currently an oversupply of used cranes in the Middle East, especially crawlers, due to delays and cancellations of oil and gas projects and a lower number of infrastructure projects. Prices dropped in June 2020 but rebounded in March 2021. The pricing of used equipment is up 7.8% and is predicted to climb past pre-pandemic levels, as stated by Ganzell. The internet has transformed the crane auctions market, with online sales growth for years. Ritchie Bros. said that before 2020, 70% of its global auction sales were already taking place online and only 30% were onsite in its auction theatres. But the pandemic has accelerated the transition. IMPACT ON DEMAND AND SUPPLY The mini crane companies have been affected severely as the demand for new cranes has gone down as the construction work has been halted in the pandemic due to the lockdown imposed by most countries. The companies also supply cranes on a rental basis which has seen a decline, but some crane rental services could secure essential services categories based on the clients. As seen from the graph below, the used cranes sold in 2020 saw a decline, but the decline was not steep as the cranes are used, which states that the demand for cranes rose in the last quarter of the year but due to the lack of availability of new cranes and cost cuttings companies turned to used cranes. This demand is driven by a lack of new crane availability and price increases due to higher raw material costs and supply chain delays. For instance, · In September 2020, Kate Lampson, director of PR and communications at Lampson International, stated that due to the type of customers they have and the industries that we service, Lampson International was deemed an essential business initially of the pandemic. Since then, they have been able to remain open and run the business as usual. In terms of upcoming projects, most current and future projects have stayed on schedule, with only a couple seeing delays. IMPACT ON PRICE With used crane sellers experiencing high demand, the supply can be an issue. At Bigge, they have also seen an increase in the price of used cranes. Kraaijeveld finds that there is currently an oversupply of used cranes in the Middle East, especially crawlers, due to delays and cancellations of oil and gas projects and a lower number of infrastructure projects. Prices dropped in June 2020 but rebounded in March 2021. The pricing of used equipment is up 7.8% and is predicted to climb past pre-pandemic levels, as stated by Ganzell. The internet has transformed the crane auctions market, with online sales growth for years. Ritchie Bros. said that before 2020, 70% of its global auction sales were already taking place online and only 30% were onsite in its auction theatres. But the pandemic has accelerated the transition. CONCLUSION The pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players and consumers can win the fight against COVID-19. The mini cranes market, majorly driven by the infrastructure projects, was impacted at the pandemic's start due to the lockdown imposed. Some rental crane service providers having the essential services category were able to survive the situation. As seen from the instance, various governments all over the globe are helping the market by investing in infrastructure. The demand for the mini cranes market is steadily rising as the projects are resumed and should stabilize soon.
Significant COVID-19 Impact on Hand Tools in the Semiconductors & Electronics Industry
COVID-19 Impact on Hand Tools in the Semiconductors and Electronics Industry COVID-19 made a major impact on the hand tools market as almost every country has opted for the shutdown for every production facility except the ones dealing in producing the essential goods. To prevent the spread of coronavirus disease, the government has taken some strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more. The only business which is dealing in this pandemic situation is the essential services that are allowed to open and run the processes. The companies such as pharmaceuticals and chemicals, among others, are allowed to continue operation but with certain safety rules. A hand tool is any tool that is not a power tool – that is, one powered by hand (manual labour) rather than by electricity or fuel. Some examples of hand tools are garden forks, secateurs, rakes, hammers, spanners, pliers, screwdrivers, chisels, and others. Hand tools are generally less dangerous than power tools. The global hand tools market size is estimated to be USD 8.4 billion in 2021 and is projected to reach USD 10.3 billion by 2026, growing at a CAGR of 4.0%. The growth of the market is attributed to the increasing commercial as well as residential construction and infrastructure projects, adoption of hand tools in households for residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations across the world. However, factors such as an increase in safety risks and concerns due to improper use of hand tools are restraining the market growth. The shutdown of production facilities during the pandemic situation has had a significant impact on the market. The future of the hand tools market looks promising, with opportunities in increasing commercial as well as residential construction and infrastructure projects. The global hand tools market is expected to decline in 2020 due to the global economic recession caused by COVID-19. However, the market will witness recovery in the year 2021. The major drivers for this market are the increasing commercial as well as residential construction and infrastructure products. Emerging trends, which have a direct impact on the dynamics of the hand tools industry, include the introduction of more efficient power tools and the increase in hand tool automation to reduce physical work that might boost hand tool usage. IMPACT ON PRICE Although the COVID-19 pandemic continues to transform the growth and prices of various industry-related products, the price of the products with respect to the hand tools market maintain a steady line throughout the pandemic. This denotes that there are no major changes in the price of the hand tools due to the effect of the pandemic. IMPACT ON SUPPLY CHAIN Supply chains are complex systems where the risks and costs associated with mismanagement and communication failures in globally connected organizational networks are relatively high. For instance, · In May 2019, Stanley Black & Decker announced the opening of a new plant for the production of its brand CRAFTSMAN in Fort Worth, Texas. The new facility has an area of 425,000-square-foot and is expected to employ approximately 500 full-time employees Some of the most influential factors that affect the supply chain in regards to the hand tools manufacturing companies are companies seeking strategies to protect their position in the value chain, looking for new markets, finding new possibilities to leverage skills and offering more value to customers. AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET Government efforts to encourage the adoption of hand tools in household alternatives have developed at a rapid pace in recent years. Governments in the European Union, China, Japan, Canada, India, and South Korea are among the major geographies where governments are taking aggressive measures to increase the adoption of hand tools in residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations. For instance, · There have been some major policy developments in the European Union. Improvements in hand tool requirements and the digitalization of hand tool based industries, which focuses on government procurement of increased usage of hand tool based systems which form a greater initiative · Another guideline, the 'Performance Buildings Directive,' has been established, which establishes minimum requirements for hand tool infrastructure installation in buildings Such favourable initiatives are anticipated to boost the adoption of hand tools in commercial and residential based projects and thus drive the adoption of the repair and maintenance operations market during the forecast period of 2021 to 2028. STRATEGIC DECISIONS OF MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE Revenue growth for the hand tools market has experienced a decline in 2020 due to constricted economic activity expected as a result of the COVID-19 outbreak. So, the hand tools manufacturing companies have adopted various strategies to overcome the decline in revenue. Some of the most common strategies adopted by industries are as follows, · The reduction of experimentation costs due to the speeding up of the testing phase · The reduction of the number of costly physical prototypes and redesign linked to their fast obsolescence · The improvement of design quality via the availability of information very early on in the development process CONCLUSION Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers could win the fight against COVID-19. Also, COVID-19 has likely influenced the development of the hand tools market because of the closing down of processing plants, impediment in-store network, and decline in the world economy. With COVID-19 affecting countries at different times and rates, access to global demand through open markets, the pandemic situation created by COVID-19 has a major impact on the hand tools market as it has lowered its demand owing to the shutdown of most of the manufacturers all across the globe. Along with industrial disruptions, the commercial, construction, and infrastructure projects across the world were either cancelled or put on hold owing to the lockdown impositions. On the other hand, as the homeowners spent most of their time at homes during the pandemic, there was a noticeable shift in focus towards home improvements, interiors and home decoration activities at the residential/DIY level, which in turn called for a slight demand for hand tools. Thus, the hand tools and woodworking tools market is getting affected by COVID-19. This has resulted in a lower estimated year-on-year growth rate as compared with 2019. On the other hand, improvisation of technologies has led to gain strong industrial growth. However, the growth has been high after the market has opened after COVID-19, and it is expected that there would be considerable growth in the sector owing to high technology and interfaces that are expected to drive the overall demand of the market.
Most Importance of Courier Services for your Online Businesses
In business, the pace of progress is so high. To achieve goals, products must move quickly from one place to another. Life is so rapid nowadays, and no one wants to wait for days or weeks for a single thing to receive or deliver. To provide timely delivery, an online business needs a courier service. The time of deliverance at the destination is crucial because it does not matter how instantly you made a product. If it is not delivered on time, it will be a total waste. What is a Courier Service? A courier service aims to send a parcel from one location to the destination as quickly as possible. They can be booked or even paid online just at one touch. A sender can decide whether a courier may collect it or it will be delivered to a nearby location and later be picked up by the courier. It is vital to use a courier service for shipping Canada to transport products safely and efficiently to the U.S. They need an experienced courier service that can provide affordable rates and assistance in customs procedures. Online businesses Most people prefer to manage their businesses online. They engage a large population. Online businesses are beneficial in attracting people across borders. Online business is the new form of business, and it is flourishing rapidly. But one thing that ensures the growth of these businesses is courier service. Sending your product to different areas of the world is troublesome. But a reliable courier service can make the functioning of your business relatively smooth. They are known for their tracking capabilities and super speed of deliverance. Importance of well-grounded courier service A trustworthy courier service works as a backbone for an online business. It acts as a bridge between you and your customer. Many people are still hesitant to trust such courier services. But its importance and benefits are so convincing. Time is very precious, not just for the customer but for the business owner as well. Sometimes, things are time-sensitive that must be delivered on time. In such situations, courier service can be significantly faster than any other method. On-time delivery increases the chances that the customer will come again. There are some susceptible products, and they need proper attention. A reputed courier service gives details on how they will handle the product from picking to transportation. Sometimes you feel restless because of the package, whether it is conveyed to the customer or not. This can be so problematic or even affect your peace of mind. The delivery tracking system is an efficient feature provided by many courier services. That keeps you aware of where your shipment is via email, SMS, or phone calls. Receiving any products after due time or mishandled packages can easily change anyone's mood. The worth of your product drops to zero within seconds. Choosing the exemplary courier service to avoid such an experience is essential. After all, customer satisfaction is the priority of any online business owner. And the reviews from the customers can be a game-changer for the whole business. Common issues There can be some issues related to the courier service, like the delay in delivery of the product or mishandling of the product that can create a wrong impression on the customer. The uncertainty in the location of the shipment might cause a panic attack. Some companies provide the cheapest rates. That can be appealing at first but they compromise on their services.