Automotive Gears Market Size (2021-2031) and Analysis
The Automotive Gears Market is expected to register a CAGR of 3.3% 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 Product Type (Spur Gears, Bevel Gears, Helical Gears, Worm Gears, Rack and Pinion Gears, Planetary Gears, Hypoid Gears, Others); Material Type (Metallic Gears, Non-Metallic Gears); Application (Transmission System, Steering System, Differential System, 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 Gears 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 Gears Market Segmentation
Product Type- Spur Gears
- Bevel Gears
- Helical Gears
- Worm Gears
- Rack and Pinion Gears
- Planetary Gears
- Hypoid Gears
- Others
- Metallic Gears
- Non-Metallic Gears
- Transmission System
- Steering System
- Differential System
- Others
- 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
Automotive Gears Market Growth Drivers- Increasing Global Vehicle Production: Overall growth in the automotive industry, where high-end luxury vehicles are showing increasing production and sales, has contributed mainly to the automotive gears market demand. Moreover, the growth in production and sales of passenger cars and commercial vehicles is one of the major factors driving the adoption of automotive automotive gears market. For instance, according to the OICA data, the production of passenger cars reached around 67.13 million units in 2023 compared to 61.60 million in 2022. Similarly, in 2023 the production of commercial vehicles was around 24.41 million units compared to 23.41 million units in 2022.
- Demand for Fuel Efficiency and Reduced Emissions: The ever-stricter fuel efficiency and emission requirements are pushing the automobile manufacturing industry toward even more efficient drivetrain solutions, such as gear systems. There is a constant challenge from OEMs to produce products which meet or better regulatory compliance while at the same time maintaining vehicle performance. Since conventional ICEs were driven for improved fuel efficiency, interest in gear ratios which deliver smooth shifting with the possibility of optimizing the use of engine power is high. To further improve fuel economy, the multi-speed transmissions use more gears, such as an 8-speed or 10-speed gearbox. Hybrid vehicles, which feature a combination of electric motors and internal combustion engines, employ highly complex gear systems in managing power flow between these two power sources. This, therefore, has opened an opportunity for manufacturers to specialize in developing hybrid transmission gears.
- Rising Sales of Electric Vehicles: Electric vehicles are one of the main drivers of the demand for specialized gears. Although electric vehicles don't have a standard internal combustion engine (ICE), they do depend on a gear mechanism to support optimal performance by the motor and the management of power distribution. Electric vehicles tend to rely on the less complex single-speed transmissions, while on ICE vehicles it is more of multi-speed. This implies fewer gears need to be produced but forces higher efficiency gears capable of handling the high torque that electric motors can produce. The gearings for electric vehicles require energy conservations in order to make the most of their power and indeed, protection of the battery from overuse. Lightweight and high-performance gear solutions are paramount for the optimum transfer of power as well as energy loss prevention.
- Shift Towards Smart and Connected Vehicles: There is a huge push towards the application of smart technologies and connectivity in the automotive industry. This is changing the way automotive gears are designed and engineered with respect to their function, as companies are integrating IoT capabilities to monitor pump performance and ensure efficiency in vehicle design and operation.
- Technological Advancements in gear Manufacturing: New technological developments involved in the gear manufacturing process include precision forging, additive manufacturing or 3D printing, computer-aided design. Newer materials have included high-strength steel, lightweight alloys, and composite materials of enhanced performance and efficiency of the gears. The use of the materials might reduce weight while improving strength and resistance to wear. These levels of reduction in the NVH are made possible by the very same technologies such as optimal gear design and the advanced processes of manufacturing gears. Significant levels of these are very crucial to the selling proposition in the case of high-end vehicles, particularly considering the silent smooth ride. And consequently such complex gear designs with the characteristics of higher tolerances have finally become achievable with precision manufacturing techniques because of better performance, low friction, and better fuel economies.
- Emerging Markets Growth: Automotive production and sales in emerging markets, including Asia-Pacific and Latin America, are on the rise. Mass-market and premium cars that automotive manufacturers will offer to emerging market regions will boost demand for automotive gears. The need for affordable, reliable transmission solutions will be the main drivers for emerging markets. Gear manufacturers should focus on affordable transmission system manufacture, such as manual, semi-automatic, and dual-clutch transmissions. With more adoption of electric vehicles around the world, including emerging markets, demand for gears designed for electric and hybrid vehicles is growing. Companies can capture this market by designing gear solutions specifically for hybrid and electric powertrains.
- Adoption of Lightweight Materials: With the global push toward more fuel-efficient vehicles and the rise of electric vehicles, which place a premium on reducing weight to maximize range, there is a growing opportunity to develop lightweight gear systems. Aluminum, carbon fiber, and composites are some of the materials being used to reduce weight without compromising strength and durability. EVs, particularly those designed for high performance or long-range efficiency, need lightweight yet strong gears that maximize torque transfer while minimizing the weight of the vehicle. Commercial vehicles increasingly seek lightweight components that enhance fuel efficiency and reduce operating costs, thus opening up scope for lighter, more efficient gear systems.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Gears 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 Gears 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.
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- 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
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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
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the American Axle and Manufacturing, Inc., AmTech International Bharat Gears Limited, Eaton Corporation Plc, GKN Plc, IMS Gear SE and Co. KGaA, Jiangsu Pacific, Precision Forging Co., Ltd. (PPF), RSB Group, and SHOWA CORPORATION
Shift Towards Smart and Connected Vehicles is the key future trend of the Automotive Gears Market
The Automotive Gears Market is estimated to witness a CAGR of 3.3% from 2023 to 2031
The major factors driving the Automotive Gears Market are:Stringent Emission Regulations#Growing Need for Fuel Efficiency
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Gears Market - By Product Type
1.3.2 Automotive Gears Market - By Material Type
1.3.3 Automotive Gears Market - By Application
1.3.4 Automotive Gears Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE GEARS 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 GEARS 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 GEARS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE GEARS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE GEARS - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE GEARS MARKET - REVENUE AND FORECASTS TO 2027 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SPUR GEARS
7.3.1. Overview
7.3.2. Spur Gears Market Forecast and Analysis
7.4. BEVEL GEARS
7.4.1. Overview
7.4.2. Bevel Gears Market Forecast and Analysis
7.5. HELICAL GEARS
7.5.1. Overview
7.5.2. Helical Gears Market Forecast and Analysis
7.6. WORM GEARS
7.6.1. Overview
7.6.2. Worm Gears Market Forecast and Analysis
7.7. RACK AND PINION GEARS
7.7.1. Overview
7.7.2. Rack and Pinion Gears Market Forecast and Analysis
7.8. PLANETARY GEARS
7.8.1. Overview
7.8.2. Planetary Gears Market Forecast and Analysis
7.9. HYPOID GEARS
7.9.1. Overview
7.9.2. Hypoid Gears Market Forecast and Analysis
7.10. OTHERS
7.10.1. Overview
7.10.2. Others Market Forecast and Analysis
8. AUTOMOTIVE GEARS MARKET - REVENUE AND FORECASTS TO 2027 - MATERIAL TYPE
8.1. OVERVIEW
8.2. MATERIAL TYPE MARKET FORECASTS AND ANALYSIS
8.3. METALLIC GEARS
8.3.1. Overview
8.3.2. Metallic Gears Market Forecast and Analysis
8.4. NON-METALLIC GEARS
8.4.1. Overview
8.4.2. Non-Metallic Gears Market Forecast and Analysis
9. AUTOMOTIVE GEARS MARKET - REVENUE AND FORECASTS TO 2027 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. TRANSMISSION SYSTEM
9.3.1. Overview
9.3.2. Transmission System Market Forecast and Analysis
9.4. STEERING SYSTEM
9.4.1. Overview
9.4.2. Steering System Market Forecast and Analysis
9.5. DIFFERENTIAL SYSTEM
9.5.1. Overview
9.5.2. Differential System Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. AUTOMOTIVE GEARS MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Gears Market Overview
10.1.2 North America Automotive Gears Market Forecasts and Analysis
10.1.3 North America Automotive Gears Market Forecasts and Analysis - By Product Type
10.1.4 North America Automotive Gears Market Forecasts and Analysis - By Material Type
10.1.5 North America Automotive Gears Market Forecasts and Analysis - By Application
10.1.6 North America Automotive Gears Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Gears Market
10.1.6.1.1 United States Automotive Gears Market by Product Type
10.1.6.1.2 United States Automotive Gears Market by Material Type
10.1.6.1.3 United States Automotive Gears Market by Application
10.1.6.2 Canada Automotive Gears Market
10.1.6.2.1 Canada Automotive Gears Market by Product Type
10.1.6.2.2 Canada Automotive Gears Market by Material Type
10.1.6.2.3 Canada Automotive Gears Market by Application
10.1.6.3 Mexico Automotive Gears Market
10.1.6.3.1 Mexico Automotive Gears Market by Product Type
10.1.6.3.2 Mexico Automotive Gears Market by Material Type
10.1.6.3.3 Mexico Automotive Gears Market by Application
10.2. EUROPE
10.2.1 Europe Automotive Gears Market Overview
10.2.2 Europe Automotive Gears Market Forecasts and Analysis
10.2.3 Europe Automotive Gears Market Forecasts and Analysis - By Product Type
10.2.4 Europe Automotive Gears Market Forecasts and Analysis - By Material Type
10.2.5 Europe Automotive Gears Market Forecasts and Analysis - By Application
10.2.6 Europe Automotive Gears Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Gears Market
10.2.6.1.1 Germany Automotive Gears Market by Product Type
10.2.6.1.2 Germany Automotive Gears Market by Material Type
10.2.6.1.3 Germany Automotive Gears Market by Application
10.2.6.2 France Automotive Gears Market
10.2.6.2.1 France Automotive Gears Market by Product Type
10.2.6.2.2 France Automotive Gears Market by Material Type
10.2.6.2.3 France Automotive Gears Market by Application
10.2.6.3 Italy Automotive Gears Market
10.2.6.3.1 Italy Automotive Gears Market by Product Type
10.2.6.3.2 Italy Automotive Gears Market by Material Type
10.2.6.3.3 Italy Automotive Gears Market by Application
10.2.6.4 United Kingdom Automotive Gears Market
10.2.6.4.1 United Kingdom Automotive Gears Market by Product Type
10.2.6.4.2 United Kingdom Automotive Gears Market by Material Type
10.2.6.4.3 United Kingdom Automotive Gears Market by Application
10.2.6.5 Russia Automotive Gears Market
10.2.6.5.1 Russia Automotive Gears Market by Product Type
10.2.6.5.2 Russia Automotive Gears Market by Material Type
10.2.6.5.3 Russia Automotive Gears Market by Application
10.2.6.6 Rest of Europe Automotive Gears Market
10.2.6.6.1 Rest of Europe Automotive Gears Market by Product Type
10.2.6.6.2 Rest of Europe Automotive Gears Market by Material Type
10.2.6.6.3 Rest of Europe Automotive Gears Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Gears Market Overview
10.3.2 Asia-Pacific Automotive Gears Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Gears Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Automotive Gears Market Forecasts and Analysis - By Material Type
10.3.5 Asia-Pacific Automotive Gears Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Automotive Gears Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Gears Market
10.3.6.1.1 Australia Automotive Gears Market by Product Type
10.3.6.1.2 Australia Automotive Gears Market by Material Type
10.3.6.1.3 Australia Automotive Gears Market by Application
10.3.6.2 China Automotive Gears Market
10.3.6.2.1 China Automotive Gears Market by Product Type
10.3.6.2.2 China Automotive Gears Market by Material Type
10.3.6.2.3 China Automotive Gears Market by Application
10.3.6.3 India Automotive Gears Market
10.3.6.3.1 India Automotive Gears Market by Product Type
10.3.6.3.2 India Automotive Gears Market by Material Type
10.3.6.3.3 India Automotive Gears Market by Application
10.3.6.4 Japan Automotive Gears Market
10.3.6.4.1 Japan Automotive Gears Market by Product Type
10.3.6.4.2 Japan Automotive Gears Market by Material Type
10.3.6.4.3 Japan Automotive Gears Market by Application
10.3.6.5 South Korea Automotive Gears Market
10.3.6.5.1 South Korea Automotive Gears Market by Product Type
10.3.6.5.2 South Korea Automotive Gears Market by Material Type
10.3.6.5.3 South Korea Automotive Gears Market by Application
10.3.6.6 Rest of Asia-Pacific Automotive Gears Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Gears Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Automotive Gears Market by Material Type
10.3.6.6.3 Rest of Asia-Pacific Automotive Gears Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Gears Market Overview
10.4.2 Middle East and Africa Automotive Gears Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Gears Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Automotive Gears Market Forecasts and Analysis - By Material Type
10.4.5 Middle East and Africa Automotive Gears Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Automotive Gears Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Gears Market
10.4.6.1.1 South Africa Automotive Gears Market by Product Type
10.4.6.1.2 South Africa Automotive Gears Market by Material Type
10.4.6.1.3 South Africa Automotive Gears Market by Application
10.4.6.2 Saudi Arabia Automotive Gears Market
10.4.6.2.1 Saudi Arabia Automotive Gears Market by Product Type
10.4.6.2.2 Saudi Arabia Automotive Gears Market by Material Type
10.4.6.2.3 Saudi Arabia Automotive Gears Market by Application
10.4.6.3 U.A.E Automotive Gears Market
10.4.6.3.1 U.A.E Automotive Gears Market by Product Type
10.4.6.3.2 U.A.E Automotive Gears Market by Material Type
10.4.6.3.3 U.A.E Automotive Gears Market by Application
10.4.6.4 Rest of Middle East and Africa Automotive Gears Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Gears Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Automotive Gears Market by Material Type
10.4.6.4.3 Rest of Middle East and Africa Automotive Gears Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Gears Market Overview
10.5.2 South and Central America Automotive Gears Market Forecasts and Analysis
10.5.3 South and Central America Automotive Gears Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Automotive Gears Market Forecasts and Analysis - By Material Type
10.5.5 South and Central America Automotive Gears Market Forecasts and Analysis - By Application
10.5.6 South and Central America Automotive Gears Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Gears Market
10.5.6.1.1 Brazil Automotive Gears Market by Product Type
10.5.6.1.2 Brazil Automotive Gears Market by Material Type
10.5.6.1.3 Brazil Automotive Gears Market by Application
10.5.6.2 Argentina Automotive Gears Market
10.5.6.2.1 Argentina Automotive Gears Market by Product Type
10.5.6.2.2 Argentina Automotive Gears Market by Material Type
10.5.6.2.3 Argentina Automotive Gears Market by Application
10.5.6.3 Rest of South and Central America Automotive Gears Market
10.5.6.3.1 Rest of South and Central America Automotive Gears Market by Product Type
10.5.6.3.2 Rest of South and Central America Automotive Gears Market by Material Type
10.5.6.3.3 Rest of South and Central America Automotive Gears Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AUTOMOTIVE GEARS MARKET, KEY COMPANY PROFILES
12.1. AMERICAN AXLE AND MANUFACTURING, INC.
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. AMTECH INTERNATIONAL
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. BHARAT GEARS 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. EATON CORPORATION PLC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. GKN PLC
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. IMS GEAR SE AND CO. KGAA
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. JIANGSU PACIFIC PRECISION FORGING CO., LTD. (PPF)
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. RSB GROUP
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. SHOWA CORPORATION
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. UNIVANCE CORPORATION
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. American Axle and Manufacturing, Inc.
2. AmTech International
3. Bharat Gears Limited
4. Eaton Corporation Plc
5. GKN Plc
6. IMS Gear SE and Co. KGaA
7. Jiangsu Pacific Precision Forging Co., Ltd. (PPF)
8. RSB Group
9. SHOWA CORPORATION
10. Univance Corporation
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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