Asia Pacific Gas Engine Market to Grow at a CAGR of 8.0% to reach US$ 1,986.4 million from 2021 to 2028
The Asia Pacific gas engine market is expected to reach US$ 1,986.4 million by 2028 from US$ 1,162.3 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021–2028.
The electric power, automotive, manufacturing, and transportation industries, among others, in developing countries are highly dependent on fossil fuels. Rise in population and the lack of supporting infrastructure for electric technologies are the major factors supporting the gas engine market. Electric motors, electric devices, solar plants, and wind projects are more expensive than gas engines, which is driving the preference of various countries toward gas engines as an environment-friendly solution. Further, improvements in the emission norms for diesel engines for which various industries are shifting on gas engines for low emissions. According to The World Bank Group data for access to electricity, only ~91.6% of the population has access to electricity in South Asia, while others are still lack access to electricity. Hence, south Asian countries are strongly adopting natural gas for power generation application. Further, electricity consumption for basic applications in countries such as China and India are increasing with the surge in population, owing to which they are opting for gas engines for electricity generation.
The government of APAC countries took all possible steps to reduce the effects of the coronavirus pandemic by announcing lockdown. The lockdown has created a negative impact on the gas engines market. In addition, Asia is a house of many manufacturing plants, also got affected due to lockdown. The step disrupted the production and supply of components overseas. Factory activity contracted sharply across most of the region in April as the coronavirus pandemic paralyzed economic activity globally, with sharp falls in export from countries such as Japan and South Korea overshadowing a moderate enhancement in China. While factories in China slowly resumed operations after extended shutdowns and a reduction in virus cases enabled the country to enhance natural gas production as normal level, activity in South Korea contracted at its fastest pace in 11 years as several of the country’s trading partners imposed dramatic actions to control the virus’ spread. Also, the power generation sector has been impacted significantly across the region. Such factors have negatively impacted the gas engines market in APAC.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the gas engine market. The Asia Pacific gas engine market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Gas Engine Market Revenue and Forecast to 2028 (US$ Million)
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Asia Pacific Gas Engine Market Segmentation
By Fuel Type
- Natural Gas
- Special Gas
By Power Output
- 100-300 kW
- 300 - 500 kW
- 0.5-1 MW
- 1-2 MW
- 2-5 MW
- 5-10 MW
- 10-20 MW
By End-User
- Remote
- Mining
- Drilling
- Others
- Mid-Stream Oil & Gas
- Heavy Industries
- Chemicals
- Paper
- Metals
- Food and Beverages
- Others
- Light Manufacturing
- Utilities
- Grid
- IPP
- Others
- Biogas
- Datacenters
- MUSH
- Commercial
By Country
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Companies Mentioned
- Caterpillar Inc.
- Cummins Inc.
- Kawasaki Heavy Industries, Ltd.
- Liebherr; MAN SE
- Mitsubishi Heavy Industries, Ltd.
- Wärtsilä Corporation
- MTU (Rolls-Royce Power Systems AG)
- 2G ENERGY AG
- R Schmitt Enertec GmbH
- MAN SE
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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Gas Engines Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia Pacific – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
4.5 Premium Insights
4.5.1 Power Output by End-User
5. Gas Engines Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Focus on Development of Efficient Fuel Engines
5.1.2 Rise in Production of Natural Gas
5.2 Market Restraints
5.2.1 Escalating Popularity of Renewable Energy Alternatives and Technological Drawbacks in Several Countries
5.3 Market Opportunities
5.3.1 Surging Adoption of Gas Engines in Developing Countries
5.4 Future Trends
5.4.1 Distributed Gas Generation
5.5 Impact Analysis of Drivers and Restraints
6. Gas Engines – Asia Pacific Market Analysis
6.1 Asia Pacific Gas Engines Market Overview
6.2 Gas Engines Market – Revenue and Forecast to 2028 (US$ Million)
7. Gas Engines Market Revenue and Forecast to 2028 – Fuel Type
7.1 Overview
7.2 Gas Engines Market, by Fuel Type (2020 and 2028)
7.3 Natural gas
7.3.1 Overview
7.3.2 Natural Gas: Gas Engines Market Revenue and Forecast To 2028 (US$ Million)
7.4 Special Gas
7.4.1 Overview
7.4.2 Special Gas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
8. Gas Engines Market Revenue and Forecast to 2028 – Power Output
8.1 Overview
8.2 Gas Engines Market, by Power Output (2020 and 2028)
8.3–300 kW
8.3.1 Overview
8.3.2–300 kW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
8.4–500kW
8.4.1 Overview
8.4.2–500kW: Gas Engines Market Revenue and Forecast To 2028 (US$ Million)
8.5 0.5–1 MW
8.5.1 Overview
8.5.2 0.5–1 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
8.6 1–2 MW
8.6.1 Overview
8.6.2 1–2 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
8.7 2–5 MW
8.7.1 Overview
8.7.2 2–5 MW: Gas Engines Market Forecast and Analysis
8.8 5–10 MW
8.8.1 Overview
8.8.2 5–10 MW: Gas Engines Market Forecast and Analysis
8.9–20 MW
8.9.1 Overview
8.9.2–20 MW: Gas Engines Market Forecast and Analysis
9. Gas Engines Market Revenue and Forecast to 2028 – End User
9.1 Overview
9.2 Gas Engines Market, by End User (2020 and 2028)
9.3 Remote
9.3.1 Overview
9.3.2 Remote: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.3.3 Mining
9.3.3.1 Overview
9.3.3.2 Mining: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.3.4 Drilling
9.3.4.1 Overview
9.3.4.2 Drilling: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.3.5 Others
9.3.5.1 Overview
9.3.5.2 Others: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.4 Mid-Stream Oil and Gas
9.4.1 Overview
9.4.2 Mid-Stream Oil and Gas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.5 Heavy Industries
9.5.1 Overview
9.5.2 Heavy Industries: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.5.3 Chemical
9.5.3.1 Overview
9.5.3.2 Chemical: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.5.4 Paper
9.5.4.1 Overview
9.5.4.2 Paper: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.5.5 Metal
9.5.5.1 Overview
9.5.5.2 Metal: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.5.6 Food & Beverages
9.5.6.1 Overview
9.5.6.2 Food & Beverages: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.5.7 Others
9.5.7.1 Overview
9.5.7.2 Others: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.6 Light Manufacturing
9.6.1 Overview
9.6.2 Light Manufacturing: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.7 Utilities
9.7.1 Overview
9.7.2 Utilities: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.7.3 Grid
9.7.3.1 Overview
9.7.3.2 Grid: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.7.4 IPP
9.7.4.1 Overview
9.7.4.2 IPP: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.7.5 Others
9.7.5.1 Overview
9.7.5.2 Others: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.8 Biogas
9.8.1 Overview
9.8.2 Biogas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.9 Datacenters
9.9.1 Overview
9.9.2 Datacenters: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.10 MUSH
9.10.1 Overview
9.10.2 MUSH: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
9.11 Commercial
9.11.1 Overview
9.11.2 Commercial: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
10. Gas Engines Market – Geographic Analysis
10.1 APAC: Gas Engines Market
10.1.1 APAC: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2 APAC: Gas engines Market, by Fuel Type
10.1.3 APAC: Gas engines Market, by Power Output
10.1.4 APAC: Gas engines Market, by End-User
10.1.5 APAC: Gas engines Market, by Key Country
10.1.5.1 Australia: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.1.1 Australia: Gas engines Market, by Fuel Type
10.1.5.1.2 Australia: Gas engines Market, by Power Output
10.1.5.1.3 Australia: Gas engines Market, by End-User
10.1.5.2 China: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.2.1 China: Gas engines Market, by Fuel Type
10.1.5.2.2 China: Gas engines Market, by Power Output
10.1.5.2.3 China: Gas engines Market, by End-User
10.1.5.3 India: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.3.1 India: Gas engines Market, by Fuel Type
10.1.5.3.2 India: Gas engines Market, by Power Output
10.1.5.3.3 India: Gas engines Market, by End-User
10.1.5.4 Japan: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.4.1 Japan: Gas engines Market, by Fuel Type
10.1.5.4.2 Japan: Gas engines Market, by Power Output
10.1.5.4.3 Japan: Gas engines Market, by End-User
10.1.5.5 South Korea: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.5.1 South Korea: Gas engines Market, by Fuel Type
10.1.5.5.2 South Korea: Gas engines Market, by Power Output
10.1.5.5.3 South Korea: Gas engines Market, by End-User
10.1.5.6 Rest of APAC: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
10.1.5.6.1 Rest of APAC: Gas engines Market, by Fuel Type
10.1.5.6.2 Rest of APAC: Gas engines Market, by Power Output
10.1.5.6.3 Rest of APAC: Gas engines Market, by End-User
11. Gas Engines Market - COVID-19 Impact Analysis
11.1 Asia Pacific: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Caterpillar Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cummins Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Kawasaki Heavy Industries, Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Liebherr
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 MAN SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Mitsubishi Heavy Industries, Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 R Schmitt Enertec GmbH
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Wärtsilä Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 MTU (Rolls-Royce Power Systems AG)
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 2G ENERGY AG
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 3. APAC: Gas engines Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 4. APAC: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 5. APAC: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 6. APAC: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 7. APAC: Gas engines Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 8. Australia: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Australia: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 10. Australia: Gas engines Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 11. Australia: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 12. Australia: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 13. Australia: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 14. China: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. China: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 16. China: Gas engines Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 17. China: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 18. China: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 19. China: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 20. India: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 21. India: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 22. India: Gas engines Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 23. India: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 24. India: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 25. India: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 26. Japan: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 27. Japan: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 28. Japan: Gas engines Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 29. Japan: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 30. Japan: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 31. Japan: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 32. South Korea: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 33. South Korea: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 34. South Korea: Gas engines Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 35. South Korea: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 36. South Korea: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 37. South Korea: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 38. Rest of APAC: Gas engines Market, by Fuel Type – Revenue and Forecast to 2028 (US$ Million)
Table 39. Rest of APAC: Gas engines Market, by Power Output – Revenue and Forecast to 2028 (US$ Million)
Table 40. Rest of APAC: Gas engines Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 41. Rest of APAC: Gas engines Market, by Remote – Revenue and Forecast to 2028 (US$ Million)
Table 42. Rest of APAC: Gas engines Market, by Heavy Industries– Revenue and Forecast to 2028 (US$ Million)
Table 43. Rest of APAC: Gas engines Market, by Utilities– Revenue and Forecast to 2028 (US$ Million)
Table 44. List of Abbreviation
LIST OF FIGURES
Figure 1. Gas Engines Market Segmentation
Figure 2. Asia Pacific Gas Engine Market Overview
Figure 3. Asia Pacific Gas Engines Market, By Power Output
Figure 4. Asia Pacific Gas Engines Market, By Geography
Figure 5. Asia Pacific – PEST Analysis
Figure 6. Gas Engines Market: Ecosystem Analysis
Figure 7. Gas Engine Market Impact Analysis of Drivers and Restraints
Figure 8. Geographic Overview of Asia Pacific Gas Engines Market
Figure 9. Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Gas Engines Market, by Fuel Type (2020 and 2028)
Figure 11. Natural Gas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 12. Special Gas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Gas Engines Market, by Power Output (2020 and 2028)
Figure 14.–300 kW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 15.–500kW: Gas Engines Market Revenue and Forecast To 2028 (US$ Million)
Figure 16. 0.5–1 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. 1–2 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. 2–5 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. 5–10 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ MN)
Figure 20.–20 MW: Gas Engines Market Revenue and Forecast to 2028 (US$ MN)
Figure 21. Gas Engines Market, by End User (2020 and 2028)
Figure 22. Remote: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Mining: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Drilling: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mid-Stream Oil and Gas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Heavy Industries: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Chemical: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Paper: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Metal: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 31. Food & Beverages: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 32. Others: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 33. Light Manufacturing: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 34. Utilities: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 35. Grid: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 36. IPP: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 37. Others: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 38. Biogas: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 39. Datacenters: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 40. MUSH: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 41. Commercial: Gas Engines Market Revenue and Forecast to 2028 (US$ Million)
Figure 42. APAC: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. APAC: Gas engines Market Revenue Share, by Fuel Type (2020 and 2028)
Figure 44. APAC: Gas engines Market Revenue Share, by Power Output (2020 and 2028)
Figure 45. APAC: Gas engines Market Revenue Share, by End-User (2020 and 2028)
Figure 46. APAC: Gas engines Market Revenue Share, by Key Country (2020 and 2028)
Figure 47. Australia: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 48. China: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 49. India: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. Japan: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. South Korea: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. Rest of APAC: Gas engines Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. Impact of COVID-19 Pandemic in Asia Pacific Country
- Caterpillar Inc.
- Cummins Inc.
- Kawasaki Heavy Industries, Ltd.
- Liebherr; MAN SE
- Mitsubishi Heavy Industries, Ltd.
- Wärtsilä Corporation
- MTU (Rolls-Royce Power Systems AG)
- 2G ENERGY AG
- R Schmitt Enertec GmbH
- MAN SE
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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