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
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:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Application, Enterprise Size, End User and Region.
Performance bank guarantee reduces the chances of financial risks for importers and exporters
Facilitates importers and exporters to increase cross border transactions
Digitalization of the performance bank guarantee platforms
Rise in import and export activities between the countries
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
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
- 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 Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises
By End User
- 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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Amerocap preparing substantial investments in magnesium and critical mineral development in the US and Europe
LONDON, Nov. 28, 2023 /PRNewswire/ — Amerocap, a US-UK private equity investor focused on energy and minerals globally, will ramp up its investments into critical minerals in 2024. Amerocap’s critical minerals platform is Verde Magnesium LLC which is investing across the metallic magnesium value chain: R&D, mining, processing, and metallic production. Verde Magnesium, with its world-class project team is developing a portfolio of projects in North America, Europe and Asia, with a goal of reaching FID on at least 2 fully integrated projects in the next two years. Our flagship magnesium project in Romania has an accelerated investment program for 2024-2026 and was included in the investment pipeline of EU’s European Raw Materials Alliance (ERMA). The project has commercial partnerships with global automotive and aluminum industrial groups with combined revenues of over $500 billion. Verde Magnesium is reviewing up to $3 billion of investments and up to 200 kt per year of metallic magnesium capacity globally.
Bernd Martens, Chairman of Verde Magnesium and former Board Member and Head of Procurement for Audi AG, mentions that “China is producing the vast majority of many critical minerals required for the net zero transition. Compounding this supply concentration is China’s own surge in domestic demand of such minerals, which will reduce China’s essential net exports. Only a few decades ago, Western economies were the largest producers of metals in the world; but today that capacity, know-how and political will for mining and processing is gone. Verde Magnesium is a future catalyst of an industrial redevelopment that will offer reliable and sustainable supply and technological know-how for the EU and the US”.
Amerocap is well positioned to support this development, having successfully built multiple investment platforms in energy production and infrastructure, from the UK North Sea, where over $1.5 billion in transactions were completed, to Amerocap’s latest platform in Samos Energy, which aims to deploy over $1 billion in energy investments in Asia and Africa. Samos completed its first investment in July, acquiring the floating energy infrastructure business of BlackRock and Petrofac, whose portfolio covers Vietnam, Thailand and Malaysia and is seeking further growth in infrastructure, with the highest HSE standards.
Abu Dhabi’s Rapidly Changing Investment Landscape Debated at the Second Edition of “Asset Abu Dhabi” Hosted at ADFW 2023
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ABU DHABI, United Arab Emirates, Nov. 28, 2023 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) presented by Abu Dhabi Global Market (ADGM) progressed into its next key conference today, conducting the 2023 edition of Asset Abu Dhabi. The event hosted a selective group of investment market leadership, who gathered at ADFW to analyse the evolving investment strategies of hedge funds, private equity houses, venture capital giants and family offices across the global markets, explore returns from evolving asset classes and investment frontiers, responses to inflationary pressures, and observe on the future and prospects of regional and global economies amid the current transition era.
Asset Abu Dhabi 2023 organised with theme partners, Mubadala and BTG Pactual, showcased a line-up of some of the strongest global private market leaders, hosting thousands of senior investors from 100+ countries, from the investment and financial industry who collectively manage more than USD 30 trillion of assets. The list of top financial investment institutions that attended the conference included top names such as Morgan Stanley, BNY Mellon, Goldman Sachs, Brevan Howard and Franklin Templeton amongst others.
Asset Abu Dhabi started with a special opening session led by Ruchir Sharma, the Chairman of Rockefeller International, who presented his analysis of key political, economic, technological and social signals that shape a nation’s future. Diving into the principle of wealth management, Jenny Johnson the President and CEO of Franklin Templeton spoke insightfully on the utility of technology to rising asset classes, sustainable investing, and interpreting changing global markets.
The rise of the Falcon Economy remains a major focus of Asset Abu Dhabi and ADFW to explore the drivers of the ongoing growth of the UAE and other regional economies and shed light on government plans, policies and efforts to realize long-term economic visions.
Other key sessions included a unique conversation on ‘The Keys to Managing Money & Risk’ between George Osborne the former UK Chancellor and Alan Howard the founder of Brevan Howard, and a special roundtable focused on ‘Forecast to 2030’ with the Chairman of Hong Kong Exchanges & Clearing and C-suites of Goldman Sachs, Circle and Tikehau Capital.
Salem Mohammed Al Darei, CEO of ADGM Authority said, “With ADGM as a home to a global collection of asset managers, Abu Dhabi Finance Week continues to be a pivotal platform for them through Asset Abu Dhabi to share insights and chart the course for the ever-evolving world of investment. The 2023 edition of Asset Abu Dhabi not only offers a unique opportunity to analyse the rapidly shifting investment landscape but also showcases the next era of digital assets and provides invaluable guidance on the prospects of regional and global economies within the transition era. With a stellar lineup of global private market leaders and senior investors representing a staggering USD 30 trillion in assets under management, Asset Abu Dhabi exemplifies ADGM’s commitment to fostering collaboration and innovation in the financial industry.”
Abu Dhabi has become a destination of choice for global asset and fund management entities as the numbers have been growing drastically in the past few years while ADGM is also experiencing remarkable growth in the asset management sector reflecting 52% growth in Q3, compared to the same period last year.
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Exicom, India’s EV Charger Leader, expands into the UK Market, introduces a range of EV Chargers to accelerate EV Adoption
- Exicom, with the largest market share in India and a robust presence in Southeast Asia and the Middle East, now expands into the UK market
- Introduces a range of powerful, scalable and user-friendly DC Fast Chargers at the London EV
- Introduces a compact and easy-to-use range of SPIN EV chargers for home charging application
- Having a strong foothold in India, Southeast Asia, and the Middle East with supply of thousands of charges every month
LONDON, Nov. 28, 2023 /PRNewswire/ — Exicom, India’s largest EV charger manufacturer and a trusted partner for global automobile leaders, charge point operators and other ecosystem players has announced its strategic entry into the UK and Europe market. The company plans to strengthen its distribution channel and will be providing EV chargers through direct sales channels too.
As part of its global expansion strategy, Exicom has identified Europe as a key market for its cutting-edge home charging and business solutions. Celebrating this milestone, Exicom unveiled its first-of-its-kind EV charging product, Harmony Direct DC 360 Fast Charger at the London EV Show, designed especially for the European market. It is crafted to meet the requirements of today’s EV drivers and is aimed at aiding charge point operators in the installation of fast-charging stations. Setting the benchmark with up to 360kW of power and a modular design, it promises the quickest charging experience in the market for upcoming electric vehicles. Its ergonomic cable management maintains station tidiness, while the new sleek design, easy-to-use display terminal and innovative lighting system elevate overall user experience. These DC chargers are suitable for installation at fueling stations, retail locations, highways and commercial premises to charge electric fleets.
Exicom is also thrilled to unveil its latest breakthrough – the ‘Spin Air’ EV AC Charger, marking a significant milestone in home electric vehicle charging. Spin Air seamlessly integrates state-of-the-art technology, user-friendly features, and elegant design. Beyond its visual appeal, Spin Air exemplifies intelligence in charging methodology. Solar compatibility allows users to harness renewable energy, while load balancing and power sharing ensure optimal energy distribution within the home environment. Additionally, it’s seamless integration with Exicom’s Spin Control mobile app empowers users to remotely monitor, schedule, and receive real-time updates on their charging sessions. By blending convenience with control, effortless management is now just a tap away.
Originating from India, a worldwide centre for technological excellence, Exicom has led the way in providing crucial power and EV charging solutions in over 15 countries across the globe. Exicom chargers power electric drives across the entirety of India, enduring extreme weather and electrical conditions and now have a robust presence in Malaysia, Indonesia, Singapore, and the Middle East showcasing its prowess in the EV Industry. As it enters the UK market through the London EV Show 2023, Exicom’s primary aim is to simplify EV charging, guaranteeing its reliability and future adaptability, aligning with the UK Government’s vision of achieving zero-emission vehicles by 2035. With a wealth of over two decade’s experience, Exicom has secured the trust of the world’s largest automotive firms, thanks to its dedication to cutting-edge technology, punctual deliveries, and continuous round-the-clock customer support.
“With many governments and especially UK favouring faster adoption of electric mobility, the demand for innovative home charging solutions and fast charging stations is higher than ever. We are thrilled to introduce our new range of Harmony DC chargers which fit variety of use cases and are convenient to operate. Our SPIN Home chargers are compact, connected and compliant with UK smart charging regulations. With the expansion of our operations in Europe, we hope to play a key role in enabling low carbon society in these markets – said, Anant Nahata, CEO, Exicom.
Exicom is driven by a customer-first approach, with its differentiation being products developed based on design, form factor, and unique features, relying on innovation and R&D activities. Exicom’s global operations are supported by three state-of-the-art manufacturing units and two R&D centres in India. Following this approach for the European market, Exicom seeks to build a local sales, service and application engineering team to fulfil customer demands.
To explore more on Exicom’s EV charging technology, visit – www.exicom-ps.com
Exicom entered the EV charging market in 2018 and offers full range of smart AC and DC fast charging solutions for passenger cars, and heavy-duty vehicles. It has sold more than 50K home chargers and 3000+ fast chargers in India and overseas markets.
Incorporated in 1994, Exicom is an India headquartered power management solutions provider operating under two business verticals. The first involves EV Charger solutions which offers smart charging solutions for home and businesses. The second vertical focuses on critical power solutions business, wherein the company services critical digital infrastructure by delivering overall energy management via its range of power and energy solutions.
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