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Performance Bank Guarantee Market to Reach $20.67 billion, Globally, by 2032 at 9.2% CAGR: Allied Market Research

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One major growth factor for the performance bank guarantee market is increased global trade and business expansion. As companies look to expand their operations internationally, they often need assurances that their partners or contractors will fulfill their obligations. This is where performance bank guarantees come in handy. They provide a level of confidence to parties involved in a transaction that if one party doesn’t meet their commitments, the bank will step in and make sure the terms of the contract are fulfilled. With globalization and businesses operating across borders, the demand for these guarantees has been steadily rising. This growth is driven by the need for trust and security in complex international business transactions, making performance bank guarantees a crucial tool for facilitating global commerce

WILMINGTON, Del., Nov. 14, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Performance Bank Guarantee Market by Application (International and Domestic), Enterprise Size (Large Enterprises and Small and Medium-sized Enterprises), and End User (Exporters and Importers): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the global performance bank guarantee market size was valued at $8.79 billion in 2022, and is projected to reach $20.67 billion by 2032, growing at a CAGR of 9.2% from 2023 to 2032. 

A performance bank guarantee (PBG) is a type of surety bond that is used in construction contracts. It is a guarantee from a bank or a financial institution that the contractor will complete the project according to the terms of the contract. If the contractor fails to complete the project, the surety will pay the owner the amount of the bond. The PBG can be established between the main contractor and the client/sub-contractor or between the supplier and the main contractor. PBGs are typically required for large or complex construction projects, where the owner is concerned about the contractor’s ability to complete the project on time and within budget. They can also be required for projects that are funded by government agencies, as a way of protecting the public interest.

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Prime Determinants of Growth

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The performance bank guarantee market is expected to witness notable growth owing to reduction in the chances of financial risks for importers and exporters, which facilitates importers and exporters to increase cross border transactions and digitalization of the performance bank guarantee platforms. Moreover, rise in import and export activities between the countries is expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary,  lack of credit facilities for SMEs and trade wars between countries limits the growth of the performance bank guarantee market.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

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2023–2032

Base Year

2022

Market Size in 2022

$8.79 billion

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Market Size in 2032

$20.67 billion

CAGR

9.2 %

No. of Pages in Report

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387

Segments Covered

Application, Enterprise Size, End User and Region.

Drivers

Performance bank guarantee reduces the chances of financial risks for importers and exporters

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Facilitates importers and exporters to increase cross border transactions

Digitalization of the performance bank guarantee platforms

Opportunities

Rise in import and export activities between the countries

Restraints

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Lack of credit facilities for SMEs

Trade wars between countries

The international segment to maintain its leadership status throughout the forecast period

Based on the application, the international segment held the highest market share in 2022, accounting for more than three-fourths of the global performance bank guarantee market revenue and is estimated to maintain its leadership status throughout the forecast period. This is primarily attributed to the fact that there is an increased need for assurances that contractual obligations will be met, even in unfamiliar jurisdictions as businesses expand their operations across borders. International transactions often involve higher risks due to varying legal and economic environments, making performance bank guarantees a critical component in fostering trust between parties from different countries. Furthermore, international trade and commerce rely heavily on timely and reliable delivery of goods and services, further emphasizing the importance of performance guarantees in cross-border transactions. However, the domestic segment is projected to attain the highest CAGR of 12.0% from 2023 to 2032. This can be attributed to the resurgence of local economies and increased government emphasis on infrastructure development and domestic projects. There is a surge in demand for performance bank guarantees to ensure that contractors and suppliers meet their obligations as countries invest in their own infrastructure, construction, and development projects.

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The large enterprises segment to maintain its leadership status throughout the forecast period

Based on the enterprise size, the large enterprises segment held the highest market share in 2022, accounting for more than three-fifths of the global performance bank guarantee market revenue. This is due to their extensive operations and involvement in complex, high-value projects. These enterprises often engage in large-scale contracts, such as infrastructure development, construction, and major supply chain agreements. In such scenarios, performance bank guarantees offer a crucial layer of assurance for both parties involved. However, the small and medium-sized enterprises segment is projected to attain the highest CAGR of 10.9% from 2022 to 2032. This is due to the fact that these enterprises increasingly find themselves engaging in larger contracts and projects, where performance guarantees become essential.  In addition, as SMEs strive to compete on a global scale, they are more likely to engage in international transactions, where the use of performance bank guarantees is common practice. Moreover, with advancements in technology and accessibility to financial services, SMEs now have better access to banking facilities and can more easily obtain these guarantees.

The importers segment to maintain its leadership status throughout the forecast period

Based on end user, the importers segment held the highest market share in 2022, accounting for nearly three-fifths of the global performance bank guarantee market revenue. Importers, who bring in goods or services from foreign markets, often require performance guarantees from their suppliers to ensure the timely and satisfactory delivery of the contracted items. This is particularly crucial in international trade where distances and regulatory differences can pose challenges. By obtaining a performance bank guarantee, importers mitigate the risk of non-compliance or substandard deliveries, thereby safeguarding their investments and maintaining the integrity of their supply chains.  However, the exporters segment is projected to attain the highest CAGR of 11.1% from 2022 to 2032. This surge can be attributed to an increasing trend in global commerce. Exporters, seeking to expand their market reach and tap into international opportunities, are increasingly recognizing the importance of offering performance guarantees to their overseas clients. Providing such assurances not only instills confidence in their capabilities but also establishes a competitive edge in the global market.

Asia-Pacific to maintain its dominance by 2032

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Based on region, Asia-Pacific held the highest market share for more than two-fifths in terms of revenue in 2022 and it is expected to witness the fastest CAGR of 11.3% from 2023 to 2032 and is likely to dominate the market during the forecast period. This can be attributed to the region’s rapid economic expansion, driven by emerging markets like China, India, and Southeast Asian nations. As businesses in Asia-Pacific increasingly engage in cross-border transactions and international contracts, there is an increased demand for performance bank guarantees to mitigate risks associated with unfamiliar partners or suppliers.

Leading Market Players: –

  • HDFC Bank Ltd
  • DBS Bank
  • Wells Fargo & Company
  • Citigroup
  • United Overseas Bank Limited
  • JPMorgan Chase & Co
  • UBS Group AG
  • Macquarie Group Limited
  • Duetsche Bank
  • Federal Bank

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Key Benefits for Stakeholders

  • The study provides in-depth analysis of the global performance bank guarantee market share along with current trends and future estimations to illustrate the imminent investment pockets.
  • Information about key drivers, restrains, and opportunities and their impact analysis on the global performance bank guarantee market size are provided in the report.
  • The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the performance bank guarantee market opportunity.
  • An extensive analysis of the key segments of the industry helps to understand the performance bank guarantee market trends.
  • The quantitative analysis of the global performance bank guarantee market forecast from 2021 to 2030 is provided to determine the market potential.

Performance Bank Guarantee Market

By Application

  • International
  • Domestic

By Enterprise Size

  • Large Enterprises
  • Small and Medium-sized Enterprises

By End User

  • Exporters
  • Importers

By Region

  • North America (U.S., Canada)
  • Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East, Africa)

The report provides a detailed analysis of these key players in the global performance bank guarantee market. These players have adopted different strategies such as product launch, partnership, and agreement to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About Us:  

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.  

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.  

Contact Us:  

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

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The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

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https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

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EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

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BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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