Automotive Engine Lubricants Market Dynamics - 2021 to 2031
The Automotive Engine Lubricants Market is expected to register a CAGR of 5% 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 base oil (Mineral Oil Lubricants, Synthetic Lubricants, Bio-Based Lubricants). The report further presents analysis based on, Engine Type (Gasoline, Diesel, Others). Based on Based on Vehicle Type report is segmented into (Passenger Vehicles, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles and Two Wheelers and Others) 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 Automotive Engine Lubricants 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.
Automotive Engine Lubricants Market Segmentation
Base Oil- Mineral Oil Lubricants
- Synthetic Lubricants
- Bio-Based Lubricants
- Gasoline
- Diesel
- Others
Strategic Insights
Automotive Engine Lubricants Market Growth Drivers- Increased Vehicle Production and Vehicle Maintenance: With an expanding global vehicle fleet and the rising number of vehicles requiring regular maintenance, the demand for engine lubricants continues to grow. Engine lubricants are essential for maintaining engine performance and longevity, driving their consumption across various vehicle segments.
- Technological Innovations in Lubricant Formulations: Advances in engine lubricant formulations, such as the development of oils that are more resistant to breakdown under high stress or extreme conditions, are increasing the efficiency and longevity of engines. This boosts the automotive engine lubricants market as manufacturers continuously improve products to meet the needs of modern, high-performance engines.
- Regulatory Pressure for Low Emissions and Sustainability: Stricter emission standards and regulations on automotive industries are pushing manufacturers to develop lubricants that improve engine efficiency and reduce carbon emissions. Lubricants that contribute to fuel economy, improve performance, and reduce friction are in high demand, aiding the market’s expansion.
- Introduction of Engine Lubricants for Hybrid and Electric Vehicles: As hybrid and electric vehicles (HEVs and EVs) continue to grow in popularity, there will be a rising demand for engine lubricants specifically designed for these vehicles. These lubricants will be designed to optimize the performance of electric motors, batteries, and other components that require specialized lubrication.
- Focus on High-Performance, Multi-Functional Lubricants: Future automotive engine lubricants will increasingly focus on providing multiple benefits in one formulation, such as improving fuel efficiency, reducing emissions, and extending engine life. Multi-functional oils that support high engine temperatures, corrosion resistance, and better fuel economy are expected to become the norm in the market.
- Shift Toward Sustainable and Green Lubricants: A growing focus on environmental responsibility will drive the development of green engine lubricants. Bio-based and renewable engine oils that reduce environmental impact without compromising performance are anticipated to become a significant trend in the automotive engine lubricants market.Introduction of Engine Lubricants for Hybrid and Electric Vehicles: As hybrid and electric vehicles (HEVs and EVs) continue to grow in popularity, there will be a rising demand for engine lubricants specifically designed for these vehicles. These lubricants will be designed to optimize the performance of electric motors, batteries, and other components that require specialized lubrication.
Focus on High-Performance, Multi-Functional Lubricants: Future automotive engine lubricants will increasingly focus on providing multiple benefits in one formulation, such as improving fuel efficiency, reducing emissions, and extending engine life. Multi-functional oils that support high engine temperatures, corrosion resistance, and better fuel economy are expected to become the norm in the market.
Shift Toward Sustainable and Green Lubricants: A growing focus on environmental responsibility will drive the development of green engine lubricants. Bio-based and renewable engine oils that reduce environmental impact without compromising performance are anticipated to become a significant trend in the automotive engine lubricants market.
- Electric Vehicle Growth and Specialized Lubricants: The growth of electric vehicles (EVs) presents a significant opportunity for the automotive engine lubricants market. With electric motors and other components requiring specialized lubrication, the market for EV-specific lubricants is set to expand. Lubricants that support cooling, wear reduction, and efficiency for electric motors and powertrains will be in high demand.
- Increased Focus on Emission Reduction and Fuel Economy: Automotive engine lubricant manufacturers are increasingly developing products that help reduce emissions and improve fuel economy, in response to stricter environmental regulations. Lubricants that contribute to lowering vehicle emissions and improving efficiency will see rising demand, creating a strong market opportunity, particularly in regions with stringent emission standards.
- Rising Demand for High-Performance and Premium Lubricants: With advancements in engine technology, modern engines demand high-performance lubricants that offer superior protection, efficiency, and durability. The increasing use of advanced materials and higher engine speeds in automotive engines creates an opportunity for high-quality lubricants designed to meet these growing demands.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Engine Lubricants 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 Automotive Engine Lubricants 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
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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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
Introduction of engine lubricants for hybrid and electric vehicles is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the automotive engine lubricants market due to the well-established automotive industry across the region
Based on type, the mineral oil segment is expected to witness the fastest growth during the forecast period
Increased vehicle production and vehicle maintenance is driving the automotive engine lubricants market growth.
Royal Dutch Shell, Exxon Mobil Corp, Chevron Corp, BP plc, Total, Lukoil are some of the key players operating in the automotive engine oil market
The Automotive Engine Lubricants Market is estimated to witness a CAGR of 5% from 2023 to 2031
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 Engine Lubricant Market - By Type
1.3.2 Automotive Engine Lubricant Market - By Vehicle
1.3.3 Automotive Engine Lubricant Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE ENGINE LUBRICANT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE ENGINE LUBRICANT 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 ENGINE LUBRICANT MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE ENGINE LUBRICANT - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE ENGINE LUBRICANT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE ENGINE LUBRICANT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MINERAL OIL
7.3.1. Overview
7.3.2. Mineral Oil Market Forecast and Analysis
7.4. SYNTHETIC
7.4.1. Overview
7.4.2. Synthetic Market Forecast and Analysis
7.5. SEMI-SYNTHETIC LUBRICANT
7.5.1. Overview
7.5.2. Semi-synthetic Lubricant Market Forecast and Analysis
8. AUTOMOTIVE ENGINE LUBRICANT MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE
8.1. OVERVIEW
8.2. VEHICLE MARKET FORECASTS AND ANALYSIS
8.3. PASSENGER CARS
8.3.1. Overview
8.3.2. Passenger Cars Market Forecast and Analysis
8.4. LIGHT-WEIGHT COMMERCIAL VEHICLE
8.4.1. Overview
8.4.2. Light-Weight Commercial Vehicle Market Forecast and Analysis
8.5. HEAVY-WEIGHT COMMERCIAL VEHICLE
8.5.1. Overview
8.5.2. Heavy-Weight Commercial Vehicle Market Forecast and Analysis
8.6. TWO/THREE WHEELERS
8.6.1. Overview
8.6.2. Two/Three Wheelers Market Forecast and Analysis
9. AUTOMOTIVE ENGINE LUBRICANT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Automotive Engine Lubricant Market Overview
9.1.2 North America Automotive Engine Lubricant Market Forecasts and Analysis
9.1.3 North America Automotive Engine Lubricant Market Forecasts and Analysis - By Type
9.1.4 North America Automotive Engine Lubricant Market Forecasts and Analysis - By Vehicle
9.1.5 North America Automotive Engine Lubricant Market Forecasts and Analysis - By Countries
9.1.5.1 United States Automotive Engine Lubricant Market
9.1.5.1.1 United States Automotive Engine Lubricant Market by Type
9.1.5.1.2 United States Automotive Engine Lubricant Market by Vehicle
9.1.5.2 Canada Automotive Engine Lubricant Market
9.1.5.2.1 Canada Automotive Engine Lubricant Market by Type
9.1.5.2.2 Canada Automotive Engine Lubricant Market by Vehicle
9.1.5.3 Mexico Automotive Engine Lubricant Market
9.1.5.3.1 Mexico Automotive Engine Lubricant Market by Type
9.1.5.3.2 Mexico Automotive Engine Lubricant Market by Vehicle
9.2. EUROPE
9.2.1 Europe Automotive Engine Lubricant Market Overview
9.2.2 Europe Automotive Engine Lubricant Market Forecasts and Analysis
9.2.3 Europe Automotive Engine Lubricant Market Forecasts and Analysis - By Type
9.2.4 Europe Automotive Engine Lubricant Market Forecasts and Analysis - By Vehicle
9.2.5 Europe Automotive Engine Lubricant Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Automotive Engine Lubricant Market
9.2.5.1.1 Germany Automotive Engine Lubricant Market by Type
9.2.5.1.2 Germany Automotive Engine Lubricant Market by Vehicle
9.2.5.2 France Automotive Engine Lubricant Market
9.2.5.2.1 France Automotive Engine Lubricant Market by Type
9.2.5.2.2 France Automotive Engine Lubricant Market by Vehicle
9.2.5.3 Italy Automotive Engine Lubricant Market
9.2.5.3.1 Italy Automotive Engine Lubricant Market by Type
9.2.5.3.2 Italy Automotive Engine Lubricant Market by Vehicle
9.2.5.4 United Kingdom Automotive Engine Lubricant Market
9.2.5.4.1 United Kingdom Automotive Engine Lubricant Market by Type
9.2.5.4.2 United Kingdom Automotive Engine Lubricant Market by Vehicle
9.2.5.5 Rest of Europe Automotive Engine Lubricant Market
9.2.5.5.1 Rest of Europe Automotive Engine Lubricant Market by Type
9.2.5.5.2 Rest of Europe Automotive Engine Lubricant Market by Vehicle
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Automotive Engine Lubricant Market Overview
9.3.2 Asia-Pacific Automotive Engine Lubricant Market Forecasts and Analysis
9.3.3 Asia-Pacific Automotive Engine Lubricant Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Automotive Engine Lubricant Market Forecasts and Analysis - By Vehicle
9.3.5 Asia-Pacific Automotive Engine Lubricant Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Automotive Engine Lubricant Market
9.3.5.1.1 Australia Automotive Engine Lubricant Market by Type
9.3.5.1.2 Australia Automotive Engine Lubricant Market by Vehicle
9.3.5.2 China Automotive Engine Lubricant Market
9.3.5.2.1 China Automotive Engine Lubricant Market by Type
9.3.5.2.2 China Automotive Engine Lubricant Market by Vehicle
9.3.5.3 India Automotive Engine Lubricant Market
9.3.5.3.1 India Automotive Engine Lubricant Market by Type
9.3.5.3.2 India Automotive Engine Lubricant Market by Vehicle
9.3.5.4 Japan Automotive Engine Lubricant Market
9.3.5.4.1 Japan Automotive Engine Lubricant Market by Type
9.3.5.4.2 Japan Automotive Engine Lubricant Market by Vehicle
9.3.5.5 South Korea Automotive Engine Lubricant Market
9.3.5.5.1 South Korea Automotive Engine Lubricant Market by Type
9.3.5.5.2 South Korea Automotive Engine Lubricant Market by Vehicle
9.3.5.6 Rest of Asia-Pacific Automotive Engine Lubricant Market
9.3.5.6.1 Rest of Asia-Pacific Automotive Engine Lubricant Market by Type
9.3.5.6.2 Rest of Asia-Pacific Automotive Engine Lubricant Market by Vehicle
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Automotive Engine Lubricant Market Overview
9.4.2 Middle East and Africa Automotive Engine Lubricant Market Forecasts and Analysis
9.4.3 Middle East and Africa Automotive Engine Lubricant Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Automotive Engine Lubricant Market Forecasts and Analysis - By Vehicle
9.4.5 Middle East and Africa Automotive Engine Lubricant Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Automotive Engine Lubricant Market
9.4.5.1.1 South Africa Automotive Engine Lubricant Market by Type
9.4.5.1.2 South Africa Automotive Engine Lubricant Market by Vehicle
9.4.5.2 Saudi Arabia Automotive Engine Lubricant Market
9.4.5.2.1 Saudi Arabia Automotive Engine Lubricant Market by Type
9.4.5.2.2 Saudi Arabia Automotive Engine Lubricant Market by Vehicle
9.4.5.3 U.A.E Automotive Engine Lubricant Market
9.4.5.3.1 U.A.E Automotive Engine Lubricant Market by Type
9.4.5.3.2 U.A.E Automotive Engine Lubricant Market by Vehicle
9.4.5.4 Rest of Middle East and Africa Automotive Engine Lubricant Market
9.4.5.4.1 Rest of Middle East and Africa Automotive Engine Lubricant Market by Type
9.4.5.4.2 Rest of Middle East and Africa Automotive Engine Lubricant Market by Vehicle
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Automotive Engine Lubricant Market Overview
9.5.2 South and Central America Automotive Engine Lubricant Market Forecasts and Analysis
9.5.3 South and Central America Automotive Engine Lubricant Market Forecasts and Analysis - By Type
9.5.4 South and Central America Automotive Engine Lubricant Market Forecasts and Analysis - By Vehicle
9.5.5 South and Central America Automotive Engine Lubricant Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Automotive Engine Lubricant Market
9.5.5.1.1 Brazil Automotive Engine Lubricant Market by Type
9.5.5.1.2 Brazil Automotive Engine Lubricant Market by Vehicle
9.5.5.2 Argentina Automotive Engine Lubricant Market
9.5.5.2.1 Argentina Automotive Engine Lubricant Market by Type
9.5.5.2.2 Argentina Automotive Engine Lubricant Market by Vehicle
9.5.5.3 Rest of South and Central America Automotive Engine Lubricant Market
9.5.5.3.1 Rest of South and Central America Automotive Engine Lubricant Market by Type
9.5.5.3.2 Rest of South and Central America Automotive Engine Lubricant Market by Vehicle
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AUTOMOTIVE ENGINE LUBRICANT MARKET, KEY COMPANY PROFILES
11.1. ASHLAND INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AMERICAN SYNTHOL, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BP PLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CHEVRON CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CONOCOPHILLIPS CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. EXXONMOBIL CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. IDEMITSU KOSAN CO., LTD
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. LUKOIL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ROYAL DUTCH SHELL PLC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ROCOL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Ashland Inc.
2. American Synthol, Inc.
3. BP PLC
4. Chevron Corporation
5. ConocoPhillips Corporation
6. ExxonMobil Corporation
7. IDEMITSU Kosan Co., Ltd
8. LUKOIL
9. Royal Dutch Shell PLC
10. ROCOL
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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