Automotive Air Compressor Market Growth Report 2021 to 2031
The automotive air compressor market is expected to register a CAGR of 4.2% during 2023–2031. The evolution of advanced technologies in vehicles is likely to remain a key trend in the market.
Automotive Air Compressor Market Analysis
- Automotive air compressor sales are expected to accelerate due to a number of factors, including an increase in vehicle ownership, a rise in consumer demand for comfort in their vehicles, and an increase in the number of on-road cars.
- The integrity and quality of products, as well as the maintenance of operational efficiency, are contingent upon the quality of compressed air vehicles. These factors are also fueling the market growth of automotive air compressors.
Automotive Air Compressor Market Overview
- The evaporator of an automobile is removed by use of an air conditioner to extract the heat-producing vapor refrigerant. Because of the growth in vehicle production and the increasing installation of high-quality comfort accessories for reasonably priced vehicles, it is projected that the market will grow substantially in the coming years.
- The market for automotive air compressors will also grow as a result of increased auto production and a rise in the use of car air conditioners in emerging economies. Since the operation of compressors depends on refrigerants, governments everywhere have enacted laws to reduce the pollution that these gases produce.
- It is predicted that strict adherence to these regulations will impede the growth of the automotive air conditioner sector. Additionally, improvements in the performance and efficiency of automotive air compressors have made air conditioning systems more affordable recently, which is driving the market's expansion.
Strategic Insights
Automotive Air Compressor Market Drivers and Opportunities
Technological Advancement in the Automotive Sector to Favor the Market
- Evolutions in the air compressor design and technology have also accelerated the advancement of the automotive air compressor market.
- The original equipment manufacturers are experimenting to build lightweight, more efficient and compact car refrigerator systems, thus reducing the size and dimensions of modern car air conditioning systems.
- Furthermore, the innovation in the automotive air conditioning compressor development has helped to increase car refrigeration and simultaneously reduce the vibration of the vehicle.
Growing Focus on Autonomous and Electric Vehicles
- The automotive industry faces major changes and developments to bring up production and satisfy the new consumer’s requirements.
- The growing technological advancements and increasing consumer focus on luxury and safety features are increasing the sale of premium cars, which is also opening new opportunities for the market.
Automotive Air Compressor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive air compressor market analysis are type, lubrication method and vehicle type.
- Based on type, the automotive air compressor market is divided into reciprocating, rotary screw, and centrifugal.
- On the basis of the lubrication method, the market is divided into oiled oil-free.
- Based on vehicle type, the automotive air compressor market is divided into heavy commercial vehicles, light commercial vehicles, and passenger cars.
Automotive Air Compressor Market Share Analysis by Geography
- The automotive air compressor market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive air compressor market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive air compressor market in these regions.
Automotive Air Compressor Market Report Scope
Automotive Air Compressor Market News and Recent Developments
The automotive air compressor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive air compressor market are listed below:
- MAHLE GmbH has successfully established itself as a supplier of e-mobility. One bestseller in this area is the electric A/C compressor, for which the technology group from Stuttgart has already secured numerous series orders in the passenger car and commercial vehicle sectors. The total order volume is approximately 1.4 billion euros. Most recently, MAHLE introduced the most powerful e-compressor currently available on the market, with a peak power of 18 kW. E-compressors are the heart of thermal management in electric vehicles. (Source: MAHLE GmbH, Company Website, November 2022)
- Hitachi Industrial Equipment Systems Co., Ltd. announced it has launched the "Predictive Diagnosis Service" for air compressors used as power sources for factory equipment, etc. The service uses machine learning to analyze data obtained through remote monitoring. It combines it with the knowledge accumulated by Hitachi Industrial Equipment Systems maintenance staff to detect and prevent problems and abnormalities that could lead to equipment stoppages in advance. This service also uses the expertise of maintenance staff to estimate the effects of factors that reduce operating efficiency and can propose more efficient operations with less environmental impact. (Source: Hitachi Industrial Equipment Systems Co., Ltd., Company Website, June 2024)
Automotive Air Compressor Market Report Coverage and Deliverables
The “Automotive Air Compressor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive air compressor market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive air compressor market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive air compressor market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive air compressor market
- Detailed company profiles
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the automotive air compressor market are Gardner Denver, Inc., Hitachi Industrial Equipment Systems Co., Ltd., Ingersoll-Rand plc, Kirloskar Pneumatic Company Ltd. (KPCL), Kobe Steel, Ltd., Mitsubishi Heavy Industries, Ltd., Stanley Black and Decker, Inc., Sulzer Ltd and VMAC Global Technology Inc.
An increase in sales of vehicles is anticipated to play a significant role in the global automotive air compressor market in the coming years.
The global automotive air compressor market is expected to grow at a CAGR of 4.2% during the forecast period 2023 - 2031.
The rapid advancement of automated vehicles is one of the major factors driving the automotive air compressor market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Air Compressor Market - By Type
1.3.2 Automotive Air Compressor Market - By Lubrication Method
1.3.3 Automotive Air Compressor Market - By Vehicle Type
1.3.4 Automotive Air Compressor Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE AIR COMPRESSOR MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE AIR COMPRESSOR MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AUTOMOTIVE AIR COMPRESSOR MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE AIR COMPRESSOR - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE AIR COMPRESSOR - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE AIR COMPRESSOR MARKET - REVENUE AND FORECASTS TO 2027 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. RECIPROCATING
7.3.1. Overview
7.3.2. Reciprocating Market Forecast and Analysis
7.4. ROTARY SCREW
7.4.1. Overview
7.4.2. Rotary Screw Market Forecast and Analysis
7.5. CENTRIFUGAL
7.5.1. Overview
7.5.2. Centrifugal Market Forecast and Analysis
8. AUTOMOTIVE AIR COMPRESSOR MARKET - REVENUE AND FORECASTS TO 2027 - LUBRICATION METHOD
8.1. OVERVIEW
8.2. LUBRICATION METHOD MARKET FORECASTS AND ANALYSIS
8.3. OILED
8.3.1. Overview
8.3.2. Oiled Market Forecast and Analysis
8.4. OIL-FREE
8.4.1. Overview
8.4.2. Oil-Free Market Forecast and Analysis
9. AUTOMOTIVE AIR COMPRESSOR MARKET - REVENUE AND FORECASTS TO 2027 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. HEAVY COMMERCIAL VEHICLES
9.3.1. Overview
9.3.2. Heavy Commercial Vehicles Market Forecast and Analysis
9.4. LIGHT COMMERCIAL VEHICLES
9.4.1. Overview
9.4.2. Light Commercial Vehicles Market Forecast and Analysis
9.5. PASSENGER CARS
9.5.1. Overview
9.5.2. Passenger Cars Market Forecast and Analysis
10. AUTOMOTIVE AIR COMPRESSOR MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Air Compressor Market Overview
10.1.2 North America Automotive Air Compressor Market Forecasts and Analysis
10.1.3 North America Automotive Air Compressor Market Forecasts and Analysis - By Type
10.1.4 North America Automotive Air Compressor Market Forecasts and Analysis - By Lubrication Method
10.1.5 North America Automotive Air Compressor Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Automotive Air Compressor Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Air Compressor Market
10.1.6.1.1 United States Automotive Air Compressor Market by Type
10.1.6.1.2 United States Automotive Air Compressor Market by Lubrication Method
10.1.6.1.3 United States Automotive Air Compressor Market by Vehicle Type
10.1.6.2 Canada Automotive Air Compressor Market
10.1.6.2.1 Canada Automotive Air Compressor Market by Type
10.1.6.2.2 Canada Automotive Air Compressor Market by Lubrication Method
10.1.6.2.3 Canada Automotive Air Compressor Market by Vehicle Type
10.1.6.3 Mexico Automotive Air Compressor Market
10.1.6.3.1 Mexico Automotive Air Compressor Market by Type
10.1.6.3.2 Mexico Automotive Air Compressor Market by Lubrication Method
10.1.6.3.3 Mexico Automotive Air Compressor Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Automotive Air Compressor Market Overview
10.2.2 Europe Automotive Air Compressor Market Forecasts and Analysis
10.2.3 Europe Automotive Air Compressor Market Forecasts and Analysis - By Type
10.2.4 Europe Automotive Air Compressor Market Forecasts and Analysis - By Lubrication Method
10.2.5 Europe Automotive Air Compressor Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Automotive Air Compressor Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Air Compressor Market
10.2.6.1.1 Germany Automotive Air Compressor Market by Type
10.2.6.1.2 Germany Automotive Air Compressor Market by Lubrication Method
10.2.6.1.3 Germany Automotive Air Compressor Market by Vehicle Type
10.2.6.2 France Automotive Air Compressor Market
10.2.6.2.1 France Automotive Air Compressor Market by Type
10.2.6.2.2 France Automotive Air Compressor Market by Lubrication Method
10.2.6.2.3 France Automotive Air Compressor Market by Vehicle Type
10.2.6.3 Italy Automotive Air Compressor Market
10.2.6.3.1 Italy Automotive Air Compressor Market by Type
10.2.6.3.2 Italy Automotive Air Compressor Market by Lubrication Method
10.2.6.3.3 Italy Automotive Air Compressor Market by Vehicle Type
10.2.6.4 United Kingdom Automotive Air Compressor Market
10.2.6.4.1 United Kingdom Automotive Air Compressor Market by Type
10.2.6.4.2 United Kingdom Automotive Air Compressor Market by Lubrication Method
10.2.6.4.3 United Kingdom Automotive Air Compressor Market by Vehicle Type
10.2.6.5 Russia Automotive Air Compressor Market
10.2.6.5.1 Russia Automotive Air Compressor Market by Type
10.2.6.5.2 Russia Automotive Air Compressor Market by Lubrication Method
10.2.6.5.3 Russia Automotive Air Compressor Market by Vehicle Type
10.2.6.6 Rest of Europe Automotive Air Compressor Market
10.2.6.6.1 Rest of Europe Automotive Air Compressor Market by Type
10.2.6.6.2 Rest of Europe Automotive Air Compressor Market by Lubrication Method
10.2.6.6.3 Rest of Europe Automotive Air Compressor Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Air Compressor Market Overview
10.3.2 Asia-Pacific Automotive Air Compressor Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Air Compressor Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Automotive Air Compressor Market Forecasts and Analysis - By Lubrication Method
10.3.5 Asia-Pacific Automotive Air Compressor Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Automotive Air Compressor Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Air Compressor Market
10.3.6.1.1 Australia Automotive Air Compressor Market by Type
10.3.6.1.2 Australia Automotive Air Compressor Market by Lubrication Method
10.3.6.1.3 Australia Automotive Air Compressor Market by Vehicle Type
10.3.6.2 China Automotive Air Compressor Market
10.3.6.2.1 China Automotive Air Compressor Market by Type
10.3.6.2.2 China Automotive Air Compressor Market by Lubrication Method
10.3.6.2.3 China Automotive Air Compressor Market by Vehicle Type
10.3.6.3 India Automotive Air Compressor Market
10.3.6.3.1 India Automotive Air Compressor Market by Type
10.3.6.3.2 India Automotive Air Compressor Market by Lubrication Method
10.3.6.3.3 India Automotive Air Compressor Market by Vehicle Type
10.3.6.4 Japan Automotive Air Compressor Market
10.3.6.4.1 Japan Automotive Air Compressor Market by Type
10.3.6.4.2 Japan Automotive Air Compressor Market by Lubrication Method
10.3.6.4.3 Japan Automotive Air Compressor Market by Vehicle Type
10.3.6.5 South Korea Automotive Air Compressor Market
10.3.6.5.1 South Korea Automotive Air Compressor Market by Type
10.3.6.5.2 South Korea Automotive Air Compressor Market by Lubrication Method
10.3.6.5.3 South Korea Automotive Air Compressor Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Automotive Air Compressor Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Air Compressor Market by Type
10.3.6.6.2 Rest of Asia-Pacific Automotive Air Compressor Market by Lubrication Method
10.3.6.6.3 Rest of Asia-Pacific Automotive Air Compressor Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Air Compressor Market Overview
10.4.2 Middle East and Africa Automotive Air Compressor Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Air Compressor Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Automotive Air Compressor Market Forecasts and Analysis - By Lubrication Method
10.4.5 Middle East and Africa Automotive Air Compressor Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Automotive Air Compressor Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Air Compressor Market
10.4.6.1.1 South Africa Automotive Air Compressor Market by Type
10.4.6.1.2 South Africa Automotive Air Compressor Market by Lubrication Method
10.4.6.1.3 South Africa Automotive Air Compressor Market by Vehicle Type
10.4.6.2 Saudi Arabia Automotive Air Compressor Market
10.4.6.2.1 Saudi Arabia Automotive Air Compressor Market by Type
10.4.6.2.2 Saudi Arabia Automotive Air Compressor Market by Lubrication Method
10.4.6.2.3 Saudi Arabia Automotive Air Compressor Market by Vehicle Type
10.4.6.3 U.A.E Automotive Air Compressor Market
10.4.6.3.1 U.A.E Automotive Air Compressor Market by Type
10.4.6.3.2 U.A.E Automotive Air Compressor Market by Lubrication Method
10.4.6.3.3 U.A.E Automotive Air Compressor Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Automotive Air Compressor Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Air Compressor Market by Type
10.4.6.4.2 Rest of Middle East and Africa Automotive Air Compressor Market by Lubrication Method
10.4.6.4.3 Rest of Middle East and Africa Automotive Air Compressor Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Air Compressor Market Overview
10.5.2 South and Central America Automotive Air Compressor Market Forecasts and Analysis
10.5.3 South and Central America Automotive Air Compressor Market Forecasts and Analysis - By Type
10.5.4 South and Central America Automotive Air Compressor Market Forecasts and Analysis - By Lubrication Method
10.5.5 South and Central America Automotive Air Compressor Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Automotive Air Compressor Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Air Compressor Market
10.5.6.1.1 Brazil Automotive Air Compressor Market by Type
10.5.6.1.2 Brazil Automotive Air Compressor Market by Lubrication Method
10.5.6.1.3 Brazil Automotive Air Compressor Market by Vehicle Type
10.5.6.2 Argentina Automotive Air Compressor Market
10.5.6.2.1 Argentina Automotive Air Compressor Market by Type
10.5.6.2.2 Argentina Automotive Air Compressor Market by Lubrication Method
10.5.6.2.3 Argentina Automotive Air Compressor Market by Vehicle Type
10.5.6.3 Rest of South and Central America Automotive Air Compressor Market
10.5.6.3.1 Rest of South and Central America Automotive Air Compressor Market by Type
10.5.6.3.2 Rest of South and Central America Automotive Air Compressor Market by Lubrication Method
10.5.6.3.3 Rest of South and Central America Automotive Air Compressor Market by Vehicle Type
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AUTOMOTIVE AIR COMPRESSOR MARKET, KEY COMPANY PROFILES
12.1. ELGI EQUIPMENTS LIMITED
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. GARDNER DENVER, INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. HITACHI INDUSTRIAL EQUIPMENT SYSTEMS CO., LTD.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. INGERSOLL-RAND PLC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. KIRLOSKAR PNEUMATIC COMPANY LTD. (KPCL)
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. KOBE STEEL, LTD.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. MITSUBISHI HEAVY INDUSTRIES, LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. STANLEY BLACK AND DECKER, INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SULZER LTD
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. VMAC GLOBAL TECHNOLOGY INC.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Elgi Equipments Limited
2. Gardner Denver, Inc.
3. Hitachi Industrial Equipment Systems Co., Ltd.
4. Ingersoll-Rand plc
5. Kirloskar Pneumatic Company Ltd. (KPCL)
6. Kobe Steel, Ltd.
7. Mitsubishi Heavy Industries, Ltd.
8. Stanley Black and Decker, Inc.
9. Sulzer Ltd
10. VMAC Global Technology Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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