Aircraft Tire Market Growth Report and Size by 2031
The Aircraft Tire Market is expected to register a CAGR of 7.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Aircraft Type (Narrow-Body, Wide Body, Regional Aircraft, General Aviation, Combat Aircraft, Military Transport/Refueling Aircraft, Helicopters); Type (Radial, Bias); Fit Type (Line Fit, Retrofit). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Aircraft Tire Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Aircraft Tire Market Segmentation
Aircraft Type- Narrow-Body
- Wide Body
- Regional Aircraft
- General Aviation
- Combat Aircraft
- Military Transport/Refueling Aircraft
- Helicopters
- Radial
- Bias
- Line Fit
- Retrofit
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Aircraft Tire Market Growth Drivers- Increase in Air Travel and Fleet Expansion: The growing demand for air travel, especially in emerging markets like Asia-Pacific, is driving the expansion of airline fleets. As more airlines purchase new aircraft to accommodate the rising number of passengers, the demand for aircraft tires increases accordingly. New aircraft models, including wide-body and long-range jets, require specialized tires that can handle higher speeds, heavier loads, and longer operational hours, boosting the need for high-performance tires in the market.
- Technological Advancements in Aircraft Tire Materials and Design: Innovations in tire materials and design have significantly improved the performance and durability of aircraft tires. New materials such as advanced rubber compounds, carbon fibers, and synthetic polymers allow tires to withstand the extreme conditions of flight operations, such as high-speed landings, heavy take-offs, and frequent braking. These advancements have improved tire longevity, safety, and performance, which in turn drives demand for high-quality, technologically advanced tires in the aviation sector.
- Strict Safety Regulations and Maintenance Requirements: Aviation safety standards and regulations imposed by organizations like the FAA, EASA, and ICAO necessitate stringent maintenance and replacement schedules for aircraft tires. Airlines must comply with these regulations to ensure passenger safety and prevent tire-related accidents. Regular inspections and timely tire replacements are mandatory, thereby increasing the demand for new tires and related maintenance services. This regulatory framework acts as a significant driver for the aircraft tire market.
- Shift Towards Retreading and Recycling of Aircraft Tires: A growing trend in the aircraft tire market is the increased adoption of tire retreading and recycling practices. Retreading involves replacing the worn-out tread of a tire with a new one, extending the tire's lifespan and reducing waste. Many airlines and MRO providers are turning to retreading as a cost-effective and environmentally friendly solution. Additionally, tire manufacturers are focusing on recycling used tires to recover valuable materials, further driving sustainability within the aviation industry.
- Integration of Smart Tire Technology: The integration of smart tire technology is becoming a key trend in the aircraft tire market. These smart tires are equipped with sensors that provide real-time data on tire pressure, temperature, wear, and other key metrics. By monitoring these parameters, airlines can optimize tire performance, improve safety, and reduce operational costs by preventing premature wear and failure. This trend is contributing to the growing adoption of advanced tire monitoring systems in commercial aviation fleets, enhancing maintenance efficiency.
- Emphasis on Eco-friendly and Sustainable Tires: As the aviation industry works toward sustainability goals, there is an increasing trend toward eco-friendly aircraft tires. Manufacturers are focusing on producing tires that are made from sustainable, renewable materials, and designed for low environmental impact. In addition to being more energy-efficient, these tires are often designed to be more durable, reducing waste and the need for frequent replacements. This trend is aligning with broader efforts within the aviation industry to reduce carbon emissions and promote greener aviation practices.
- Growth of Low-Cost Carriers (LCCs) and Regional Airlines: The rise of low-cost carriers (LCCs) and regional airlines is creating significant opportunities in the aircraft tire market. These carriers typically operate smaller fleets with more frequent flights, increasing the demand for durable, cost-effective tires that can withstand the rigorous usage patterns of budget airlines. The expanding network of regional and domestic flights across emerging economies also presents opportunities for tire manufacturers to provide tailored solutions for these growing fleets.
- Technological Innovations in Tire Maintenance and Management: There is a significant opportunity for the development and deployment of advanced tire maintenance and management systems, including predictive analytics and IoT (Internet of Things) integration. By using data analytics and real-time monitoring systems, airlines can track tire performance, predict when tires need to be replaced, and optimize tire life cycles. Companies that offer these advanced tire management systems can tap into the growing demand for more efficient tire operations, reducing costs and downtime for airlines and MROs.
- Increasing demand from Asian Countries: Emerging markets, particularly in Asia-Pacific, the Middle East, and Africa, present substantial growth opportunities for the aircraft tire market. As air traffic in these regions increases, airlines are expanding their fleets to meet the demand for both domestic and international flights. The expanding fleet size, along with the rapid growth of infrastructure, creates an opportunity for tire manufacturers to enter new markets and establish partnerships with local carriers, driving demand for high-performance, cost-effective aircraft tires in these regions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Aircraft Tire Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Aircraft Tire Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
This text is related
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.
Some of the major trends driving the aircraft tire market are:
1. Rise in Air Travel
2. New Aircraft Orders from Low Cost Airlines
The Aircraft Tire Market is estimated to witness a CAGR of 7.2% from 2023 to 2031
The major factors driving the aircraft tire market are:
1. Growing Fleet of Aircraft.
2. Demand Tire Replacements.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aircraft Tire Market - By Tire Type
1.3.2 Aircraft Tire Market - By End-User
1.3.3 Aircraft Tire Market - By Supplier
1.3.4 Aircraft Tire Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AIRCRAFT TIRE 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. AIRCRAFT TIRE 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. AIRCRAFT TIRE MARKET - GLOBAL MARKET ANALYSIS
6.1. AIRCRAFT TIRE - GLOBAL MARKET OVERVIEW
6.2. AIRCRAFT TIRE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AIRCRAFT TIRE MARKET - REVENUE AND FORECASTS TO 2028 - TIRE TYPE
7.1. OVERVIEW
7.2. TIRE TYPE MARKET FORECASTS AND ANALYSIS
7.3. RADIAL
7.3.1. Overview
7.3.2. Radial Market Forecast and Analysis
7.4. BIAS
7.4.1. Overview
7.4.2. Bias Market Forecast and Analysis
8. AIRCRAFT TIRE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. COMMERCIAL
8.3.1. Overview
8.3.2. Commercial Market Forecast and Analysis
8.4. MILITARY
8.4.1. Overview
8.4.2. Military Market Forecast and Analysis
9. AIRCRAFT TIRE MARKET - REVENUE AND FORECASTS TO 2028 - SUPPLIER
9.1. OVERVIEW
9.2. SUPPLIER MARKET FORECASTS AND ANALYSIS
9.3. OEM
9.3.1. Overview
9.3.2. OEM Market Forecast and Analysis
9.4. AFTERAMRKET
9.4.1. Overview
9.4.2. Afteramrket Market Forecast and Analysis
10. AIRCRAFT TIRE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Aircraft Tire Market Overview
10.1.2 North America Aircraft Tire Market Forecasts and Analysis
10.1.3 North America Aircraft Tire Market Forecasts and Analysis - By Tire Type
10.1.4 North America Aircraft Tire Market Forecasts and Analysis - By End-User
10.1.5 North America Aircraft Tire Market Forecasts and Analysis - By Supplier
10.1.6 North America Aircraft Tire Market Forecasts and Analysis - By Countries
10.1.6.1 United States Aircraft Tire Market
10.1.6.1.1 United States Aircraft Tire Market by Tire Type
10.1.6.1.2 United States Aircraft Tire Market by End-User
10.1.6.1.3 United States Aircraft Tire Market by Supplier
10.1.6.2 Canada Aircraft Tire Market
10.1.6.2.1 Canada Aircraft Tire Market by Tire Type
10.1.6.2.2 Canada Aircraft Tire Market by End-User
10.1.6.2.3 Canada Aircraft Tire Market by Supplier
10.1.6.3 Mexico Aircraft Tire Market
10.1.6.3.1 Mexico Aircraft Tire Market by Tire Type
10.1.6.3.2 Mexico Aircraft Tire Market by End-User
10.1.6.3.3 Mexico Aircraft Tire Market by Supplier
10.2. EUROPE
10.2.1 Europe Aircraft Tire Market Overview
10.2.2 Europe Aircraft Tire Market Forecasts and Analysis
10.2.3 Europe Aircraft Tire Market Forecasts and Analysis - By Tire Type
10.2.4 Europe Aircraft Tire Market Forecasts and Analysis - By End-User
10.2.5 Europe Aircraft Tire Market Forecasts and Analysis - By Supplier
10.2.6 Europe Aircraft Tire Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Aircraft Tire Market
10.2.6.1.1 Germany Aircraft Tire Market by Tire Type
10.2.6.1.2 Germany Aircraft Tire Market by End-User
10.2.6.1.3 Germany Aircraft Tire Market by Supplier
10.2.6.2 France Aircraft Tire Market
10.2.6.2.1 France Aircraft Tire Market by Tire Type
10.2.6.2.2 France Aircraft Tire Market by End-User
10.2.6.2.3 France Aircraft Tire Market by Supplier
10.2.6.3 Italy Aircraft Tire Market
10.2.6.3.1 Italy Aircraft Tire Market by Tire Type
10.2.6.3.2 Italy Aircraft Tire Market by End-User
10.2.6.3.3 Italy Aircraft Tire Market by Supplier
10.2.6.4 United Kingdom Aircraft Tire Market
10.2.6.4.1 United Kingdom Aircraft Tire Market by Tire Type
10.2.6.4.2 United Kingdom Aircraft Tire Market by End-User
10.2.6.4.3 United Kingdom Aircraft Tire Market by Supplier
10.2.6.5 Russia Aircraft Tire Market
10.2.6.5.1 Russia Aircraft Tire Market by Tire Type
10.2.6.5.2 Russia Aircraft Tire Market by End-User
10.2.6.5.3 Russia Aircraft Tire Market by Supplier
10.2.6.6 Rest of Europe Aircraft Tire Market
10.2.6.6.1 Rest of Europe Aircraft Tire Market by Tire Type
10.2.6.6.2 Rest of Europe Aircraft Tire Market by End-User
10.2.6.6.3 Rest of Europe Aircraft Tire Market by Supplier
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Aircraft Tire Market Overview
10.3.2 Asia-Pacific Aircraft Tire Market Forecasts and Analysis
10.3.3 Asia-Pacific Aircraft Tire Market Forecasts and Analysis - By Tire Type
10.3.4 Asia-Pacific Aircraft Tire Market Forecasts and Analysis - By End-User
10.3.5 Asia-Pacific Aircraft Tire Market Forecasts and Analysis - By Supplier
10.3.6 Asia-Pacific Aircraft Tire Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Aircraft Tire Market
10.3.6.1.1 Australia Aircraft Tire Market by Tire Type
10.3.6.1.2 Australia Aircraft Tire Market by End-User
10.3.6.1.3 Australia Aircraft Tire Market by Supplier
10.3.6.2 China Aircraft Tire Market
10.3.6.2.1 China Aircraft Tire Market by Tire Type
10.3.6.2.2 China Aircraft Tire Market by End-User
10.3.6.2.3 China Aircraft Tire Market by Supplier
10.3.6.3 India Aircraft Tire Market
10.3.6.3.1 India Aircraft Tire Market by Tire Type
10.3.6.3.2 India Aircraft Tire Market by End-User
10.3.6.3.3 India Aircraft Tire Market by Supplier
10.3.6.4 Japan Aircraft Tire Market
10.3.6.4.1 Japan Aircraft Tire Market by Tire Type
10.3.6.4.2 Japan Aircraft Tire Market by End-User
10.3.6.4.3 Japan Aircraft Tire Market by Supplier
10.3.6.5 South Korea Aircraft Tire Market
10.3.6.5.1 South Korea Aircraft Tire Market by Tire Type
10.3.6.5.2 South Korea Aircraft Tire Market by End-User
10.3.6.5.3 South Korea Aircraft Tire Market by Supplier
10.3.6.6 Rest of Asia-Pacific Aircraft Tire Market
10.3.6.6.1 Rest of Asia-Pacific Aircraft Tire Market by Tire Type
10.3.6.6.2 Rest of Asia-Pacific Aircraft Tire Market by End-User
10.3.6.6.3 Rest of Asia-Pacific Aircraft Tire Market by Supplier
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Aircraft Tire Market Overview
10.4.2 Middle East and Africa Aircraft Tire Market Forecasts and Analysis
10.4.3 Middle East and Africa Aircraft Tire Market Forecasts and Analysis - By Tire Type
10.4.4 Middle East and Africa Aircraft Tire Market Forecasts and Analysis - By End-User
10.4.5 Middle East and Africa Aircraft Tire Market Forecasts and Analysis - By Supplier
10.4.6 Middle East and Africa Aircraft Tire Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Aircraft Tire Market
10.4.6.1.1 South Africa Aircraft Tire Market by Tire Type
10.4.6.1.2 South Africa Aircraft Tire Market by End-User
10.4.6.1.3 South Africa Aircraft Tire Market by Supplier
10.4.6.2 Saudi Arabia Aircraft Tire Market
10.4.6.2.1 Saudi Arabia Aircraft Tire Market by Tire Type
10.4.6.2.2 Saudi Arabia Aircraft Tire Market by End-User
10.4.6.2.3 Saudi Arabia Aircraft Tire Market by Supplier
10.4.6.3 U.A.E Aircraft Tire Market
10.4.6.3.1 U.A.E Aircraft Tire Market by Tire Type
10.4.6.3.2 U.A.E Aircraft Tire Market by End-User
10.4.6.3.3 U.A.E Aircraft Tire Market by Supplier
10.4.6.4 Rest of Middle East and Africa Aircraft Tire Market
10.4.6.4.1 Rest of Middle East and Africa Aircraft Tire Market by Tire Type
10.4.6.4.2 Rest of Middle East and Africa Aircraft Tire Market by End-User
10.4.6.4.3 Rest of Middle East and Africa Aircraft Tire Market by Supplier
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Aircraft Tire Market Overview
10.5.2 South and Central America Aircraft Tire Market Forecasts and Analysis
10.5.3 South and Central America Aircraft Tire Market Forecasts and Analysis - By Tire Type
10.5.4 South and Central America Aircraft Tire Market Forecasts and Analysis - By End-User
10.5.5 South and Central America Aircraft Tire Market Forecasts and Analysis - By Supplier
10.5.6 South and Central America Aircraft Tire Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Aircraft Tire Market
10.5.6.1.1 Brazil Aircraft Tire Market by Tire Type
10.5.6.1.2 Brazil Aircraft Tire Market by End-User
10.5.6.1.3 Brazil Aircraft Tire Market by Supplier
10.5.6.2 Argentina Aircraft Tire Market
10.5.6.2.1 Argentina Aircraft Tire Market by Tire Type
10.5.6.2.2 Argentina Aircraft Tire Market by End-User
10.5.6.2.3 Argentina Aircraft Tire Market by Supplier
10.5.6.3 Rest of South and Central America Aircraft Tire Market
10.5.6.3.1 Rest of South and Central America Aircraft Tire Market by Tire Type
10.5.6.3.2 Rest of South and Central America Aircraft Tire Market by End-User
10.5.6.3.3 Rest of South and Central America Aircraft Tire Market by Supplier
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. AIRCRAFT TIRE MARKET, KEY COMPANY PROFILES
12.1. BRIDGESTONE CORPORATION
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. DESSER TIRE AND RUBBER CO., LLC
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. DUNLOP AIRCRAFT TYRES LIMITED
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. KADEX AERO SUPPLY LTD
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. MICHELIN
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. PETLAS TIRE CORPORATION
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. QINGDAO SENTURY TIRE CO., 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. SPECIALTY TIRES OF AMERICA, 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. THE GOODYEAR TIRE AND RUBBER COMPANY
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. WILKERSON COMPANY, 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
1.Bridgestone Corporation
2.Desser Tire and Rubber Co., LLC
3.Dunlop Aircraft Tyres Limited
4.Kadex Aero Supply Ltd
5.MICHELIN
6.Petlas Tire Corporation
7.Qingdao Sentury Tire Co., Ltd
8.Specialty Tires of America, Inc.
9.The Goodyear Tire and Rubber Company
10.Wilkerson Company, 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.
Get Free Sample For