Automotive Evaporative Emission Control (EVAP) System Market Forecast 2031
The Automotive Evaporative Emission Control (EVAP) system market is expected to register a CAGR of 4.7% during 2023–2031. The demand for eco-friendly cars is a significant driver of the global automotive evaporative emission control system (EVAP) market growth. This trend is driven by a growing emphasis on environmental conservation and the need to reduce vehicular emissions.
Automotive Evaporative Emission Control (EVAP) System Market Analysis
Governments across the globe are mandating that every vehicle being sold should have some level of emission control systems. This is due to the increased awareness of the ill effects of air pollution and the volatile organic compounds released into the environment by automobiles. Over the near future, the growth of the market will especially pick up in emerging countries. Furthermore, the study indicates positive growth prospects for the aftermarket segment during the forecast period, with the introduction of test procedures such as California Evaporative Emission Standards and Test Procedures to gauge vehicle performance.
Automotive Evaporative Emission Control (EVAP) System Market Overview
The Automotive Evaporative Emission Control (EVAP) System is an integral system designed to prevent emissions of harmful gasoline vapors from a car’s fuel tank and fuel system into the atmosphere. This system is very important because, without it, the fuel tank or fuel system would continuously release VOCs and other harmful chemicals and carcinogens into the atmosphere, polluting the air.
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Automotive Evaporative Emission Control (EVAP) System Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive Evaporative Emission Control (EVAP) System Market: Strategic Insights
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Automotive Evaporative Emission Control (EVAP) System Market Drivers and Opportunities
Environmental Impact and Regulatory Compliance
The increasing environmental concerns and implementation of stringent government regulations for reducing evaporative emissions are the major factors that are acting on the market of Automotive Evaporative Emission Control (EVAP) systems positively. The relentless initiative that governments across the world take to ensure that vehicles are installed with environmental emission control systems is substantially contributing to the business of Automotive Evaporative Emission Control (EVAP) systems. Among various environmental requisites that are imposed by governments across the world, they cannot ignore the consideration that every vehicle on the road must have an emission control system that could reduce the emission of pollutants into the environment.
Furthermore, the use of market-based instruments such as market-based antipollution charges or taxes on fuel consumption, and subsidies for the reduction of emissions, for instance, again reflect global concerted efforts to deal with risks associated with vehicular emissions. Such market-oriented environmental instruments are particularly important in supporting the endeavor that firms can incorporate environmental considerations in their planning. Overall, the market for Automotive Evaporative Emission Control (EVAP) systems remains inherently linked to the international environmental agenda and to the collective actions being taken throughout the world to tackle environmental pollution from vehicles, as reflected by the pandering to regulations, market-based environmental policy instruments, and the innovative solutions being attempted to deal with air pollution.
Market Expansion in Emerging Nations
The aftermarket segment of the automotive EVAP system market is also expected to witness substantial growth, particularly in developing countries. This segment represents an increasing failure rate of emission control systems and an aftermarket for damaged automotive components involved in evaporation emission control. The aftermarket requirement in these emerging economies creates huge opportunities for jaw crusher manufacturers. This insight is corroborated by a report on the aftermarket for automotive evaporative emission control systems, which suggests that the aftermarket may grow at a faster pace over the forecast period due to the increased incidence of defects in the emission control system and an increase in the aftermarket in countries with emerging economies for broken vehicle parts related to the evaporation emission control.
Automotive Evaporative Emission Control (EVAP) System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Automotive Evaporative Emission Control (EVAP) system market analysis are component and vehicle type.
- Based on vehicle type, the Automotive Evaporative Emission Control (EVAP) system market is divided into passenger vehicles and commercial vehicles.
- based on components, the market is divided into Fuel Tanks, Gas Caps, Liquid Vapor separators, canisters, Control valves, and Others.
Automotive Evaporative Emission Control (EVAP) System Market Share Analysis by Geography
Automotive Evaporative Emission Control (EVAP) System 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 Evaporative Emission Control (EVAP) system 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 Evaporative Emission Control (EVAP) system market in these regions.
Automotive Evaporative Emission Control (EVAP) System Market Report Scope
Automotive Evaporative Emission Control (EVAP) System Market News and Recent Developments
The Automotive Evaporative Emission Control (EVAP) system 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 Evaporative Emission Control (EVAP) system market are listed below:
- SMP® continues to add to its comprehensive Emission Control program, which includes evaporative emission control (EVAP), exhaust gas recirculation (EGR), and positive crankcase ventilation components. Standard’s Emission Control program helps technicians repair and maintain these complex systems. When OE fails, technicians trust Standard® to deliver precision components that keep emission systems operating as designed. (Source: Standard Motor Products, Company Website, August 2023)
Automotive Evaporative Emission Control (EVAP) System Market Report Coverage and Deliverables
The “Automotive Evaporative Emission Control (EVAP) System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive Evaporative Emission Control (EVAP) system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive Evaporative Emission Control (EVAP) system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive Evaporative Emission Control (EVAP) system 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 Evaporative Emission Control (EVAP) system market
- Detailed company profiles
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
Environmental impact and regulatory compliance are driving the Automotive Evaporative Emission Control (EVAP) system market growth.
The global Automotive Evaporative Emission Control (EVAP) system market is expected to grow at a CAGR of 4.7% during the forecast period 2023 - 2031.
The demand for eco-friendly cars is a significant driver and is likely to drive the market.
The leading players operating in the SenTec Group, The Plastic Omnium Group, Eagle Industry Co., Ltd., Delphi Technologies, TI Automotive, Plastic Fuel Systems, Didac International, Padmini VNA Mechatronics Pvt Ltd, Robert Bosch GmbH, Okay Motor Products Hangzhou Inc., and Standard Motor Products Inc.
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 an Excel dataset based on the request.
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 Evaporative Emission Control (EVAP) System Market - By Component
1.3.2 Automotive Evaporative Emission Control (EVAP) System Market - By Vehicle Type
1.3.3 Automotive Evaporative Emission Control (EVAP) System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM 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 EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM 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 EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. FUEL TANK
7.3.1. Overview
7.3.2. Fuel Tank Market Forecast and Analysis
7.4. GAS CAP
7.4.1. Overview
7.4.2. Gas Cap Market Forecast and Analysis
7.5. LIQUID VAPOR SEPARATOR
7.5.1. Overview
7.5.2. Liquid Vapor Separator Market Forecast and Analysis
7.6. CANISTER
7.6.1. Overview
7.6.2. Canister Market Forecast and Analysis
7.7. CONTROL VALVE
7.7.1. Overview
7.7.2. Control Valve Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. AUTOMOTIVE EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
8.1. OVERVIEW
8.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3. PASSENGER CARS
8.3.1. Overview
8.3.2. Passenger Cars Market Forecast and Analysis
8.4. COMMERCIAL VEHICLES
8.4.1. Overview
8.4.2. Commercial Vehicles Market Forecast and Analysis
9. AUTOMOTIVE EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Automotive Evaporative Emission Control (EVAP) System Market Overview
9.1.2 North America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis
9.1.3 North America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Component
9.1.4 North America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Vehicle Type
9.1.5 North America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Automotive Evaporative Emission Control (EVAP) System Market
9.1.5.1.1 United States Automotive Evaporative Emission Control (EVAP) System Market by Component
9.1.5.1.2 United States Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.1.5.2 Canada Automotive Evaporative Emission Control (EVAP) System Market
9.1.5.2.1 Canada Automotive Evaporative Emission Control (EVAP) System Market by Component
9.1.5.2.2 Canada Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.1.5.3 Mexico Automotive Evaporative Emission Control (EVAP) System Market
9.1.5.3.1 Mexico Automotive Evaporative Emission Control (EVAP) System Market by Component
9.1.5.3.2 Mexico Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.2. EUROPE
9.2.1 Europe Automotive Evaporative Emission Control (EVAP) System Market Overview
9.2.2 Europe Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis
9.2.3 Europe Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Component
9.2.4 Europe Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Vehicle Type
9.2.5 Europe Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Automotive Evaporative Emission Control (EVAP) System Market
9.2.5.1.1 Germany Automotive Evaporative Emission Control (EVAP) System Market by Component
9.2.5.1.2 Germany Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.2.5.2 France Automotive Evaporative Emission Control (EVAP) System Market
9.2.5.2.1 France Automotive Evaporative Emission Control (EVAP) System Market by Component
9.2.5.2.2 France Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.2.5.3 Italy Automotive Evaporative Emission Control (EVAP) System Market
9.2.5.3.1 Italy Automotive Evaporative Emission Control (EVAP) System Market by Component
9.2.5.3.2 Italy Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.2.5.4 United Kingdom Automotive Evaporative Emission Control (EVAP) System Market
9.2.5.4.1 United Kingdom Automotive Evaporative Emission Control (EVAP) System Market by Component
9.2.5.4.2 United Kingdom Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.2.5.5 Russia Automotive Evaporative Emission Control (EVAP) System Market
9.2.5.5.1 Russia Automotive Evaporative Emission Control (EVAP) System Market by Component
9.2.5.5.2 Russia Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.2.5.6 Rest of Europe Automotive Evaporative Emission Control (EVAP) System Market
9.2.5.6.1 Rest of Europe Automotive Evaporative Emission Control (EVAP) System Market by Component
9.2.5.6.2 Rest of Europe Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market Overview
9.3.2 Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis
9.3.3 Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Vehicle Type
9.3.5 Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Automotive Evaporative Emission Control (EVAP) System Market
9.3.5.1.1 Australia Automotive Evaporative Emission Control (EVAP) System Market by Component
9.3.5.1.2 Australia Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.3.5.2 China Automotive Evaporative Emission Control (EVAP) System Market
9.3.5.2.1 China Automotive Evaporative Emission Control (EVAP) System Market by Component
9.3.5.2.2 China Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.3.5.3 India Automotive Evaporative Emission Control (EVAP) System Market
9.3.5.3.1 India Automotive Evaporative Emission Control (EVAP) System Market by Component
9.3.5.3.2 India Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.3.5.4 Japan Automotive Evaporative Emission Control (EVAP) System Market
9.3.5.4.1 Japan Automotive Evaporative Emission Control (EVAP) System Market by Component
9.3.5.4.2 Japan Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.3.5.5 South Korea Automotive Evaporative Emission Control (EVAP) System Market
9.3.5.5.1 South Korea Automotive Evaporative Emission Control (EVAP) System Market by Component
9.3.5.5.2 South Korea Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.3.5.6 Rest of Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market
9.3.5.6.1 Rest of Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market by Component
9.3.5.6.2 Rest of Asia-Pacific Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market Overview
9.4.2 Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis
9.4.3 Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Vehicle Type
9.4.5 Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Automotive Evaporative Emission Control (EVAP) System Market
9.4.5.1.1 South Africa Automotive Evaporative Emission Control (EVAP) System Market by Component
9.4.5.1.2 South Africa Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.4.5.2 Saudi Arabia Automotive Evaporative Emission Control (EVAP) System Market
9.4.5.2.1 Saudi Arabia Automotive Evaporative Emission Control (EVAP) System Market by Component
9.4.5.2.2 Saudi Arabia Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.4.5.3 U.A.E Automotive Evaporative Emission Control (EVAP) System Market
9.4.5.3.1 U.A.E Automotive Evaporative Emission Control (EVAP) System Market by Component
9.4.5.3.2 U.A.E Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.4.5.4 Rest of Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market
9.4.5.4.1 Rest of Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market by Component
9.4.5.4.2 Rest of Middle East and Africa Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Automotive Evaporative Emission Control (EVAP) System Market Overview
9.5.2 South and Central America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis
9.5.3 South and Central America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Component
9.5.4 South and Central America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Vehicle Type
9.5.5 South and Central America Automotive Evaporative Emission Control (EVAP) System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Automotive Evaporative Emission Control (EVAP) System Market
9.5.5.1.1 Brazil Automotive Evaporative Emission Control (EVAP) System Market by Component
9.5.5.1.2 Brazil Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.5.5.2 Argentina Automotive Evaporative Emission Control (EVAP) System Market
9.5.5.2.1 Argentina Automotive Evaporative Emission Control (EVAP) System Market by Component
9.5.5.2.2 Argentina Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
9.5.5.3 Rest of South and Central America Automotive Evaporative Emission Control (EVAP) System Market
9.5.5.3.1 Rest of South and Central America Automotive Evaporative Emission Control (EVAP) System Market by Component
9.5.5.3.2 Rest of South and Central America Automotive Evaporative Emission Control (EVAP) System Market by Vehicle Type
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 EVAPORATIVE EMISSION CONTROL (EVAP) SYSTEM MARKET, KEY COMPANY PROFILES
11.1. CABOT CORPORATION
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. DELPHI TECHNOLOGIES
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. DIDAC INTERNATIONAL
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. EAGLE INDUSTRY CO., LTD
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. PADMINI VNA MECHATRONICS PVT LTD.
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. PLASTIC FUEL SYSTEMS
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. SENTEC E AND E 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. STANDARD MOTOR PRODUCTS INC.
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. STANT CORPORATION
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. TI AUTOMOTIVE
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. Cabot Corporation
2. Delphi Technologies
3. DIDAC INTERNATIONAL
4. Eagle Industry Co., Ltd
5. Padmini VNA Mechatronics Pvt Ltd.
6. Plastic Fuel Systems
7. SENTEC E and E Co. LTD.
8. Standard Motor Products Inc.
9. Stant Corporation
10. TI Automotive
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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