Egypt and Saudi Arabia are the easiest countries for doing business in the Middle East, says GBCI 2025
The report ranks 79 jurisdictions, accounting for 94% of the world's GDP, based on their business complexity, with 1 being the most complex and 79 the least complex. Within the Middle East, Egypt is ranked 37th globally, followed closely by the Kingdom of Saudi Arabia at 38th, the United Arab Emirates (UAE) at 39th and Qatar at 44th.
Egypt has decreased in complexity from last year's position of 28th, mainly due to several strategic efforts and developments. For example, the country's adoption of diverse logistic solutions and strengthening of trade corridors has played a pivotal role in mitigating economic pressures and geopolitical risks. The establishment of integrated logistics corridors and free zones, coupled with incentives like simplified customs procedures, has also enhanced accessibility for foreign businesses.
Saudi Arabia has also improved its position, ranking 38th this year (one point less complex than last year), with resilience amid geopolitical disruptions and Vision 2030 initiatives being highlighted as key drivers of the ease of complexity. The country's strategy to diversify its economy beyond oil dependency continues at the forefront, as the Kingdom invests in trade infrastructure and regulatory frameworks, enhancing supply chain resilience. In addition, under Vision 2030, Saudi Arabia is striving to reduce its vulnerability to geopolitical threats. Parallelly, investments in infrastructure aim to establish the Kingdom as a global logistics hub.
The UAE, ranking 39th this year, continues to position itself as a resilient hub amid global geopolitical disruptions. Strict regulations in place aim to ensure operations are compliant and secure, and contribute to the UAE being seen as a 'safe haven' for a diverse range of sectors. These regulations help mitigate risks and provide stability for businesses, fostering confidence among investors and enterprises. With multiple entry points and robust infrastructure, the UAE offers reliable trade corridors.
With a slight increase in its complexity, Qatar is ranked 44th (last year, it ranked 48th). The geopolitical landscape remains volatile, with Qatar being involved in multiple peace talks, which underscores regional unpredictability and contributes to the heightened sense of uncertainty in the business environment. Additionally, the labour market faces challenges such as increased staff turnover and wage inflation, impacting cost efficiency.
Achin Malik, TMF Group's Middle East, India and Africa Market Head, commented:
'Complexity is no longer the biggest challenge for business worldwide: uncertainty is. At a time of great instability in global trade and rising geopolitical tensions, the Middle East is increasingly strengthening its trade corridors — and exploring new ones. This positions countries like Egypt, Saudi Arabia, UAE and Qatar as resilient hubs for businesses amid geopolitical and natural disruptions, in a context of increased unpredictability.' Global top and bottom ten (1= most complex, 79= least complex) 1. Greece 79. Cayman Islands 2. France 78. Denmark 3. Mexico 77. New Zealand 4. Turkey 76. Hong Kong, SAR 5. Colombia 75. Jersey 6. Brazil 74. Netherlands 7. Italy 73. Jamaica 8. Bolivia 72. British Virgin Islands 9. Kazakhstan 71. Curaçao 10. China 70. Czech Republic
Media Contacts
TMF Group
Marina Llibre Martín, Global PR Manager
[email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Oilfield Chemicals Market Size to Surpass USD 50.24 Billion by 2034 Driven by Energy Demand and Sustainable Solutions
According to Precedence Research, the global oilfield chemicals market size is projected to surpass USD 50.24 billion by 2034, driven by rising energy demand, shale gas expansion, and sustainable solutions. Ottawa, Aug. 21, 2025 (GLOBE NEWSWIRE) -- The worldwide oilfield chemicals market size was calculated at USD 32.07 billion in 2024 and is predicted to rise from USD 33.42 billion in 2025 to around USD 50.24 billion by 2034, with a CAGR of 4.63% from 2025 to 2034. Oilfield Chemicals Market Key Highlights: In terms of revenue, the global oilfield chemicals market is expected to reach USD 34.86 billion in 2026. It is projected to exceed USD 47.94 billion by 2033. Middle East and Africa accounted for the highest market share of 39.54% in 2024. North America held the second-largest market share of 26.48% in 2024. By product, the biocides modifiers segment contributed the highest market share of 21.45% in 2024. By application, the workover and completion modifiers segment held the major market share of 50.20% in 2024 By application, the production chemicals segment is growing at a solid CAGR of 5% from 2025 to 2034. By location, the onshore segment captured the highest market share of 70.15% in 2024. Note: This report is readily available for immediate delivery. We can review it with you in a meeting to ensure data reliability and quality for Before You Buy – Get the Sample Report@ What are Oilfield Chemicals? Oilfield chemicals are chemical compounds that are specialized in the oil/gas exploration, drilling, and production. They are critical in their functionality in the petroleum activities in terms of enhancing productivity, improving efficiency, and ensuring smooth operations through petroleum activities like drilling, well stimulation, cementing, hydraulic fracturing, and the enhancement of oil recovery. Advancements in technological processes concerned with enhanced oil recovery (EOR) and the necessity of high-performance, inexpensive chemicals also contribute to the growth. Also, the increasing shale gas production, as well as the increased use of eco-friendly and biodegradable chemicals used in oilfields, facilitates market growth. Top 5 Oilfield Chemicals Manufacturers and Suppliers Sr. No. Manufacturers Highlights 1. Nouryon Nouryon focuses on specialty oilfield chemicals with a specialty in high-performance oil, as well as water-based drilling mud formulations. The products are used to address drilling performance enhancement, optimize drilling operations, and wellbore stability under various conditions to aid in oil and gas exploration. 2. Ashland Ashland Global Holdings Inc. It is a company that deals with the supply of various oilfield chemicals in onshore and offshore operational areas. As a company with a high success rate in applied chemistry, Ashland creates suitable solutions that meet the changing demands of the industry, leading to an improvement in the overall performance of the oilfield. 3. BASF SE BASF SE provides a broad range of oilfield specialty chemicals that support the optimization of oil and gas activities. Their products assist service companies to optimize the efficiency of wells, quality of production processes, and satisfy their emerging needs in the ever-changing industry, where they are also dedicated to quality, performance, and value-added operations. 4. Dow Dow manufactures oilfield chemicals, such as chelating agents and scale inhibitors, such as VERSENE, which can be found in drilling, production, and recovery operations. These solutions enhance oil recovery, help in supporting fracturing fluids, acidizing, and scale control operations, thus making the operations more efficient and effective in numerous applications in the oilfield. 5. Chevron Phillips Chemical Company LLC. Chevron Phillips Chemical has a wide portfolio of oilfield chemicals. The joint venture between Chevron and Phillips 66 is an enterprise based in Texas that specializes in providing quality, cleaner energy solutions. Their worldwide manufacturing and research sites come up with goods that can facilitate effective and resource-conservative oilfield operations anywhere in the world. Latest Trends in Oilfield Chemicals Market: Sustainability & Biodegradable Formulations The push for greener operations is driving a rise in environmentally friendly solutions, such as biodegradable corrosion inhibitors, scale inhibitors, and surfactants, designed to minimize ecological impact while maintaining performance. 2. Enhanced Oil Recovery (EOR) Demand With many oilfields maturing, EOR techniques relying on advanced surfactants, polymers, and chemical mixtures are increasingly utilized to extract more from existing reservoirs and extend their productive lives. 3. Digitalization & Smart Chemical Management Oil and gas producers are integrating digital tools such as real-time monitoring, IoT-enabled dosing systems, and data analytics platforms to optimize chemical usage, reduce waste, and enhance overall operational efficiency. 4. Deepwater & Offshore Market Expansion As exploration and production activity shifts into deeper and more challenging offshore environments, demand for high-performance chemicals (like hydrate inhibitors and corrosion-control agents) that can withstand extreme conditions continues to escalate. ➤ Oilfield Chemicals Market Opportunity: Emergence of Advanced Technologies: There are promising opportunities in the oilfield chemicals market due to the breakthrough in the oil field technologies, such as horizontal drilling, oil field fracturing, and the use of enhanced oil recovery (EOR) methods. Moreover, as more oil and gas companies are concentrated on maximizing production rates and recovery factors on the existing wells and reservoirs, the need for advanced production chemicals will keep increasing. Also, there is an increasing uptake of more environmentally friendly and biodegradable oilfield chemicals to comply with regulatory laws and sustainability targets of the industry. Oilfield Chemicals Market Challenges Stricter Regulations: The changing and tougher chemical regulations put in place by various countries are one of the main limiting factors to the oilfield chemicals market. Compliance with various national regulations involves documentation, testing, and reformation, which proves to be costly in operation and reduces product deployment. Such regulatory complexity has become a significant challenge to manufacturers and suppliers, especially within the context of the costs of finding products and cross-border trade. Scope of Oilfield Chemicals Market Report Attributes Key Statistics Market Size in 2024 USD 32.07 Billion Market Size in 2025 USD 33.42 Billion Market Size in 2031 USD 43.65 Billion Market Size by 2034 USD 50.24 Billion CAGR 2025 to 2034 4.5% Leading Region in 2024 Middle East and Africa Base Year 2024 Forecast Period 2025to 2034 Segments Covered Product, Application, Location and Region Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa Key Players Covered SMC Global, BASF SE, Solvay, BERRYMAN CHEMICAL, Thermax Limited, Oilfield Chemicals, SVS Chemical Corporation LLP, SEATEX LLC, Kemira, Hawkins, Chemiphase, SicagenChem, SAHARA Middle East Petroleum Services, Ltd., and Others. ➡️ Become a valued research partner with us ☎ Oilfield Chemicals Market Key Regional Analysis How Middle East and Africa Dominated the Oilfield Chemicals Market? The Middle East and Africa dominated the oilfield chemicals market in 2024. Saudi Arabia, Iraq, and the UAE are some of the leading oil producers in the world, and their output level always remains high, a factor that necessitates high quantities of oilfield chemicals. The chemicals are essential in maximising the efficiency of the production, ensuring well integrity, and solutions to operational issues such as corrosion, scale, and wax deposition. Investment in strategic projects and technology relationships, and the emphasis on better production rates and lengthening the lifetime of mature fields, also serve to enhance the dominance in the region. Why is North America the Fastest-Growing market in the Oilfield Chemicals Market? North America experiences the fastest growth in the market during the forecast period. Advanced hydraulic fracturing and horizontal drilling have created a drastic increase in shale gas and tight oil production in the region, and especially in the United States. In the U.S., there is also a growth in exploration and production activities in the energy sector, as enabled by government policies and investment by several privately owned enterprises. North America's oilfield operations, due to their innovation and resource endowment, make it the fastest-growing regional market for oilfield chemicals. Oilfield Chemicals Market Segmentation Analysis: Product Analysis: Why did the Biocides Segment Dominate the Oilfield Chemicals Market? The biocides segment dominated the oilfield chemicals market in 2024, owing to the critical functions of such chemicals in preventing certain microbes in the course of drilling, hydraulic fracturing, and production processes. Increased focus on sustainable operations led to the development of eco-friendly, biodegradable formulations of biocides to comply with items requirements in the environment. Further, the development of monitoring/control technologies has made it more appropriate to identify and control microbiological problems more effectively and optimally utilize chemicals. Application Analysis: Which Application Segment Held the Largest Share of the Oilfield Chemicals Market? The workover and completion segment held the largest share in the oilfield chemicals market in 2024. Workover and completion are diverse intervention processes that entail well cleaning, perforating, stimulation, and repairs, among others, which are intended to enhance efficient production and proper functioning of wells. The idea of increasing the lifespan of the mature wells and the maximization of already existing reservoirs strengthens the dominance of this segment. The combination of these factors, together with the advancement in chemical formulations geared to complex interventions. The production chemicals segment experiences the fastest growth in the market during the forecast period, driven by the increase in the desire to maximize the efficiency of oil and gas production. The chemicals used as part of production are also known as production chemicals; they include those used as demulsifiers, corrosion inhibitors, scale inhibitors, and biocides, which are vital in ensuring that there is flow assurance, protection of infrastructure, and minimization of downtimes in the operation. The development of this sector closely relates to growing energy demand across the globe and an increase in both traditional and non-traditional production of oil and gas, especially in shale gas and tight oil plays. Global Oilfield Chemicals Market Size (USD Million) By Application, 2022 to 2024 Application 2022 2023 2024 Drilling Fluid 5,574.9 5,761.5 5,965.6 Production Chemicals 5,990.0 6,254.4 6,542.9 Cementing 3,232.2 3,342.9 3,463.9 Workover & Completion 14,856.4 15,451.2 16,100.8 Location Analysis: How the Onshore Segment Dominates the Oilfield Chemicals Market? The onshore segment dominated the oilfield chemicals market in 2024 because of the large number of new and ongoing onshore oil and gas projects in the world. Onshore activity often needs the use of chemicals like demulsifiers, corrosion inhibitors, and scale removers to guarantee the best oil recovery and productivity of the production. These chemicals have proven beneficial in achieving a quick separation rate in crude oil through the elimination of water, thereby making the downstream water treatment expensive and complicated. The growing world energy demand and the development of new technology in onshore drilling and extraction. Global Oilfield Chemicals Market Size (USD Million) By Location, 2022 to 2024 By Location 2022 2023 2024 Onshore 20,787.1 21,613.2 22,515.4 Offshore 8,866.4 9,196.8 9,557.8 ➡️ Related Topics You May Find Useful: ✚ Specialty Oilfield Chemicals Market See how advanced formulations are enhancing drilling efficiency and sustainability ✚ Oilfield Equipment Market Track investments in rigs, drilling systems, and next-gen extraction technologies ✚ Specialty Chemicals Market Discover how tailored formulations are reshaping industrial performance and innovation ✚ Paraffin Inhibitors Market Understand how wax control solutions are ensuring flow assurance in oilfields ✚ Digital Oilfield Market Explore how IoT, AI, and data analytics are redefining oil and gas operations ✚ Detergent Chemicals Market Analyze shifting consumer preferences for eco-friendly and high-performance cleaning agents ✚ Textile Chemicals Market Gain insight into how sustainability and innovation are transforming fabric processing ✚ Pharmaceutical Chemicals Market See how drug development and biotech growth are fueling chemical demand ✚ Cosmetic Chemicals Market Track rising consumer demand for safe, natural, and functional beauty ingredients ✚ Biosurfactants Market Discover how bio-based alternatives are reshaping the future of surfactants ✚ Basic Chemicals Market Understand the backbone role of bulk chemicals in industrial and consumer sectors ✚ Pine Derived Chemicals Market Explore demand growth for natural resins, adhesives, and sustainable additives ✚ Crop Protection Chemicals Market Analyze how farmers are adopting advanced solutions to boost agricultural yields ✚ Produced Water Treatment Market See how oil and gas operators manage water sustainability and regulatory compliance ✚ Oil and Gas Infrastructure Market Track investments in pipelines, storage, and energy transport networks ✚ Aroma Chemicals Market Discover how fragrances and flavors are driving growth across food, cosmetics, and wellness Oilfield Chemicals Market Leading Companies SMC Global BASF SE Solvay BERRYMAN CHEMICAL Thermax Limited Oilfield Chemicals SVS Chemical Corporation LLP SEATEX LLC Kemira Hawkins Chemiphase SicagenChem SAHARA Middle East Petroleum Services, Ltd. Recent Developments: In July 2025, Versalis Eni was introduced on the stock market, the chemical company that recently transferred to a group company called Versalis Oilfield Solutions S.r.l. The move unifies knowledge, scientific research, and activities related to strategic direction under a single unit, which increases the effectiveness of using time to improve performance and strength in the development and marketing of sophisticated chemical formulas to the oil drilling sector. In March 2024, BASF announced that it was going to increase the capacity of its Basoflux paraffin inhibitors produced at its La Canonja plant. The newly ventured investment will satisfy the growing demand for the advanced paraffin inhibitors in the oil and gas sector globally, hence it will have enhanced supply capabilities and future market growth. In February 2024, Kraton Corporation introduced a new range of bio-based hydrocarbon oils, SYLVASOLV, that provides high performance and environmental advantages. With an industrial focus such as agrochemicals, adhesives, and lubricants, SYLVASOLV fits in with the rising need for sustainability, but at the same time provides the solution of higher functionality to customers with a focus on sustainability in industry. Oilfield Chemicals Market Segments Covered in the Report By Product Demulsifiers Inhibitors Rheology Modifiers Friction Reducers Biocides Surfactants Foamers Others By Application Drilling Fluid Production Chemicals Cementing Workover & Completion By Location Onshore Offshore By Region North America Europe Asia-Pacific Latin America Middle East and Africa Thank you for reading. You can also get individual chapter-wise sections or region-wise report versions, such as Immediate Delivery Available | Buy This Premium Research Report@ You can place an order or ask any questions, please feel free to contact us at sales@ | +1 804 441 9344 Stay Ahead with Precedence Research Subscriptions Unlock exclusive access to powerful market intelligence, real-time data, and forward-looking insights, tailored to your business. From trend tracking to competitive analysis, our subscription plans keep you informed, agile, and ahead of the curve. Browse Our Subscription Plans@ About Us Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally. Web: Our Trusted Data Partners: Towards Healthcare | Towards Packaging | Towards Automotive | Towards Chem and Materials | Towards FnB | Towards Consumer Goods | Statifacts | Towards EV Solutions | Towards Dental | Nova One Advisor | Market Stats Insight Get Recent News: For the Latest Update Follow Us: LinkedIn | Medium | Facebook | Twitter ✚ Explore More Market Intelligence from Precedence Research: ➡️ Research Department Explosive Market Explore how defense modernization and mining activities are fueling demand ➡️ Composites Market Track innovation in lightweight materials transforming aerospace automotive and construction ➡️ Recycled Polyethylene Terephthalate Market See how sustainability and circular economy trends are driving rPET adoption ➡️ Textile Chemicals Market Understand how eco-friendly formulations are reshaping global fabric processing ➡️ Specialty Chemicals Market Discover how custom solutions are driving growth across multiple industries ➡️ Industrial Coatings Market Gain insights into protective coatings shaping infrastructure and manufacturing durability ➡️ Drilling Fluids Market Analyze how advanced mud systems are enhancing oil and gas drilling performance ➡️ Biomaterials Market Explore how innovations in polymers and metals are revolutionizing medical applications ➡️ Biodegradable Plastic Market Track rising demand for sustainable packaging solutions worldwide ➡️ Powder Coating Market Discover how eco-friendly finishes are boosting growth in automotive and appliances ➡️ Medical Billing Outsourcing Market See how healthcare providers are streamlining operations through outsourcing ➡️ Pressure Vessels Market Understand how energy transition and industrial demand are shaping global growth ➡️ Technical Insulation Market Analyze how efficiency and sustainability are driving demand across industries ➡️ Electric Powertrain Market Track innovation fueling the global shift toward electric mobility ➡️ Organic Electronics Market Discover how flexible and lightweight electronics are redefining consumer tech ➡️ Synthetic Leather Market See how fashion and automotive industries are embracing eco-friendly alternatives ➡️ Digital Health Market Explore how telemedicine AI and IoT are transforming healthcare delivery ➡️ Nitrile Gloves Market Understand how healthcare safety and hygiene awareness are driving global demand ➡️ Metal Fiber Market Track applications in filtration protective clothing and automotive industries ➡️ Industrial Lubricants Market Analyze how manufacturing and energy sectors are shaping lubricant innovations ➡️ Polypropylene Market Discover how packaging automotive and construction are fueling demand growth ➡️ Mixed Reality in Healthcare Market See how AR and VR tools are revolutionizing medical training and patient care ➡️ Paints and Coatings Market Track innovation in decorative and protective coatings across construction and automotive ➡️ Medical Imaging Outsourcing Market Explore how outsourcing is improving diagnostic efficiency and cost-effectiveness ➡️ E-Bike Drive Unit Market Understand how urban mobility and sustainability trends are boosting e-bike adoption ➡️ Biomarkers Market See how precision medicine and diagnostics are driving biomarker innovations ➡️ Clinical Trials Market Analyze how digitalization and global partnerships are reshaping trial operations ➡️ DNA Sequencing Market Discover how genomics and precision healthcare are fueling sequencing adoption ➡️ Cancer Diagnostics Market Explore how AI imaging and biomarker advances are transforming early detection ➡️ Medical Tubing Market Track innovations in biocompatible materials driving growth in medical devicesError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
an hour ago
- Business Insider
HTX Rolls Out Stablecoin Earning Zone With Yields Up to 20%
PANAMA CITY, Aug. 21, 2025 (GLOBE NEWSWIRE) -- HTX , a leading global crypto exchange, is proud to announce the launch of its new Stablecoin Earning Zone, offering yields of up to 20% APY. This initiative comes at a time when retail savers worldwide are increasingly dissatisfied with traditional bank deposits that barely keep pace with inflation, with U.S. bank accounts offering at most 4.2% annually. Stablecoin-based passive income products are fast emerging as a compelling alternative. Stablecoins are cryptocurrencies pegged 1:1 to fiat currencies like the US dollar. Examples include USDC, USDT, USD1, and USDD. They essentially function as "dollar deposits on a blockchain" and can be used for transactions and payments. They also provide access to financial products in the crypto space with significantly higher interest rates than traditional banks. HTX has launched dedicated passive income products for stablecoins on its Earn feature, offering users returns of up to 20% APY across major stablecoins including USDC, USDT, USD1, and USDD. The platform is also offering an exclusive benefit for first-time Earn users: a limited-time 100% APY on a small amount of subscriptions, which lowers the entry barrier for those new to digital wealth management. USDC : Widely regarded as the "gold standard" of dollar-backed stablecoins. USDC is issued by Circle and fully reserved with cash or cash equivalents deposited to banks. On HTX, the USDC Flexible Earn product offers up to 15% APY, catering to users prioritizing safety and stability. USD1 : A leading stablecoin which debuted on HTX, was launched in April 2025 by World Liberty Financial (WLFI), a fintech firm backed by the Trump family. Pegged 1:1 to the U.S. dollar and designed for seamless fiat-to-digital conversion, USD1 features strong liquidity and low fees. HTX is offering a limited-time interest subsidy for the USD1 Flexible Earn product, boosting yields to as high as 20% APY. USDD: The stablecoin within the TRON ecosystem is backed by reserves of BTC, ETH, and TRX, bringing added flexibility. Beyond delivering up to 12% APY, USDD can be exchanged 1:1 for USDT directly on HTX, giving users both yield potential and on-demand liquidity. USDT : The most widely used stablecoin globally, USDT is accepted across virtually all exchanges and DeFi protocols. HTX's USDT Earn product offers up to 20% APY for regular users and a 100% APY for newcomers. Traditional Financial Products : USD Deposits: Annualized returns of 2% to 4.2%, with significant interest penalties for early withdrawals. US Treasury Bonds: 10-year Treasury bonds yield approximately 4.29%, but have long lock-up periods Stablecoin Passive Income Products: (E.g. HTX Earn) High Yields : Up to 15-20% APY, significantly outperforming traditional low-risk options. High Liquidity : Supports flexible deposits and withdrawals without capital lock-up. Global Platform Backing : Backed by a global platform, supporting free conversion between multiple currencies. To illustrate, a $10,000 investment in a 10-year US Treasury bond would yield $429 annually (4.29% APY). In contrast, the USDC Flexible product on HTX Earn, with a 15% APY, would yield $1,500 annually while offering flexible access to funds. The difference is substantial. From First-Time Users to Portfolio Strategists HTX Earn aims to serve both entry-level and professional users. Beginners can start with small amounts under the newcomer benefit, gaining exposure to digital assets in a low-risk, high-reward setting. Seasoned investors can diversify across multiple stablecoins to balance returns and liquidity within their broader portfolio strategies. As stablecoins grow in adoption for settlement, cross-border payments, on-chain rewards, and DeFi investments, platforms offering secure and compliant earning products are well positioned to capture demand. With leading assets such as USDC, USD1, USDT, and USDD, HTX offers flexible passive income products through which users can manage digital assets as simply as bank deposits while capturing returns far beyond what traditional finance offers. Given the inadequacy of 4% yields in the current market, HTX advocates for stablecoins as the foundation of a new paradigm in digital wealth management. About HTX Founded in 2013, HTX (formerly Huobi) has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of "Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance," HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide. To learn more about HTX, please visit or HTX Square, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@ Disclaimer: This content is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an "as-is" basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Yahoo
an hour ago
- Yahoo
Boat and Ship MRO Market Global Forecast Report to 2030, with Profiles of Huntington Ingalls Industries, L&T Shipbuilding, Zamakona Yards, Abu Dhabi Shipbuilding, Bender CCP, HPI, and Bath Iron Works
The Boat and Ship MRO Market is poised for growth due to increasing global marine trade and a shift towards sustainable technologies. Opportunities lie in advanced, eco-friendly MRO solutions driven by regulatory demands. Challenges include a skilled labor shortage. Trends like predictive maintenance via IoT and data analytics are transforming the sector. Boat and Ship MRO Market Dublin, Aug. 21, 2025 (GLOBE NEWSWIRE) -- The "Boat and Ship MRO Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" has been added to Boat and Ship MRO Market was valued at USD 147.4 Billion in 2024 and is expected to reach USD 187.2 Billion by 2030, rising at a CAGR of 4.09%. The market is experiencing strong growth due to rising emphasis on sustainable and eco-conscious technologies. Increasingly stringent environmental regulations and government incentives are accelerating the transition to electric-powered machinery across industries. This shift is influencing sectors such as construction, mining, and agriculture, and is also reflected in marine operations. MRO providers are responding by integrating more energy-efficient systems and battery-powered technologies into maritime maintenance processes. These advancements are critical for ensuring compliance, reducing emissions, and meeting evolving performance standards. The growing complexity of vessels, combined with increased shipping volumes, is driving investment in advanced MRO solutions to enhance longevity, efficiency, and environmental compatibility. Market Drivers: Rising Demand for Marine Trade The continued expansion of global marine trade is a major factor fueling the demand for boat and ship MRO services. As international shipping activities grow, vessels are required to operate more frequently and under demanding conditions, leading to increased wear and the need for regular maintenance. This has made MRO services vital for ensuring operational readiness and safety. Shipowners are investing in periodic upgrades and maintenance to extend fleet lifespan and improve fuel efficiency. Infrastructure developments like the new 310-meter dry dock at Cochin Shipyard, capable of servicing large vessels including Capesize and Suezmax ships, highlight the rising capacity for global ship repair. Commissioned at over USD 330 million, this facility enhances Cochin Shipyard's position in the international MRO landscape and supports rising maintenance needs driven by global trade activity. Key Market Challenges: Skilled Labor Shortage One of the major challenges confronting the boat and ship MRO sector is the shortage of skilled labor. As ships evolve with sophisticated systems and digital technologies, maintenance tasks require highly trained personnel with specialized knowledge in modern marine engineering. However, the global MRO workforce is struggling to keep pace with these advancements. The lack of adequately trained technicians increases project timelines and labor expenses, creating bottlenecks in repair and overhaul schedules. This talent gap not only affects operational efficiency but also limits the ability of shipowners to adopt advanced maintenance practices. Retaining skilled labor in the face of aging workforces and competition from other industries further compounds the issue. Key Market Trends: Predictive Maintenance and Data Analytics Digital transformation is reshaping maritime maintenance through the adoption of predictive maintenance solutions. Leveraging IoT sensors and data analytics, MRO service providers can forecast mechanical failures and perform maintenance proactively. This shift from reactive to predictive strategies reduces downtime and prevents costly repairs by identifying potential issues early. As the technology becomes more widespread, predictive maintenance is being incorporated into ship management systems, revolutionizing how maintenance is scheduled and executed. This trend is expected to gain momentum as fleet operators seek more efficient, cost-effective, and technologically driven service models to optimize vessel performance. Key Market Players: Huntington Ingalls Industries Inc. L&T Shipbuilding Limited Zamakona Yards Abu Dhabi Shipbuilding Company Bender CCP HPI LLC Mitsubishi Heavy Industries Limited Bath Iron Works (General Dynamics Corporation) Rhoads Industries Inc. BAE Systems PLC Key Attributes: Report Attribute Details No. of Pages 180 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $147.4 Billion Forecasted Market Value (USD) by 2030 $187.2 Billion Compound Annual Growth Rate 4.0% Regions Covered Global Report Scope: In this report, the global Boat and Ship MRO Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below: Boat and Ship MRO Market, By Vessel Type: Boat Yacht Vessels Other Vessel Types Boat and Ship MRO Market, By Vessel Application: Private Commercial Defense Boat and Ship MRO Market, By MRO Type: Engine MRO Component MRO Dry Dock MRO Modifications Other MRO Types Boat and Ship MRO Market, By Region: North America United States Canada Mexico Europe & CIS Germany France U.K. Spain Italy Asia-Pacific China Japan India South Korea Middle East & Africa Turkey South Africa Saudi Arabia UAE South America Brazil Argentina For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Boat and Ship MRO Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
