Automotive Shock Absorber Market SWOT Analysis by 2031
The automotive shock absorber market is expected to register a CAGR of 4.5% during 2023–2031. The rising global demand for vehicles, particularly passenger cars, commercial vehicles is posing the need for advanced and reliable suspension systems and as automotive manufacturers striving to enhance vehicle performance, safety, and comfort, the demand for innovative and shock absorber materials and designs is growing.
Automotive Shock Absorber Market Analysis
The Automotive Shock Absorber Market is gaining traction due to factors such as an increase in demand for safety and comfort, the growth of the automotive aftermarket industry, and a surge in demand for lightweight automotive shock absorbers, which are anticipated to drive the growth of the shock absorber market. Additionally, technological advancements in shock absorbers and increasing electric vehicle adoption are projected to offer growth opportunities for the market players in the automotive shock absorber market.
Automotive Shock Absorber Market Overview
The shock absorber market is a particular sector within the automotive and industrial components industry, that focuses on the design, production, and distribution of shock absorbers that are crucial for managing and controlling vibrations in machinery and vehicles. A vehicle's suspension system includes shock absorbers, which are responsible for absorbing and reducing kinetic energy produced during the operation of heavy machinery. The automotive shock market offers solutions that improve ride comfort, stability, and overall vehicle performance, operating at the nexus of automotive engineering, materials science, and manufacturing. Shock absorber types vary by their application. It is used from such as motorcycles, off-road vehicles, industrial machinery passenger cars and commercial trucks, targets of the shock absorber market. Hydraulic, gas-charged, and electronically controlled shock absorbers are common types.
The shock absorber market gaining traction due to advancements in material technologies, advanced materials that are robust and durable but still light in weight, aids to reduce the overall weight of shock absorbers. This consistent development in automotive industry's focusing on light weighting in order to improve fuel efficiency and reduce environmental impact.
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 Shock Absorber Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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 Shock Absorber Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Automotive Shock Absorber Market Drivers and Opportunities
Increase in Preference for Safety and Comfort
The demand for comfortable driving experiences such as easy handling, sitting structure, and aerodynamics has risen significantly in recent years. This has pushed the need for better shock absorbers, providing improved stability for vehicles. To meet the demand, manufacturers are also developing new comfort features such as enhancing stability and reducing impact of bumps in their vehicles, maintaining vertical loads placed on tires by providing resistance to vehicle roll, bounce, and control, which boosts demand for shock absorbers also, reduce brake dive along with acceleration squat to achieve a balanced ride. Shock absorbers offer multiple spring seats and ride height settings, which provide better stability and comfort during driving. Therefore, the rise in demand for comfort and safety is surging demand for shock absorbers across the globe.
Growth Of the Automotive Aftermarket Industry
The increasing in number of owning vehicles creates need for aftermarket, for repair and replacement of automotive parts. This industry comprises car components, tires, equipment, service repair, collision repair, and accessories sold after the sale of vehicles and activities such as manufacture, distribute, retail, install, and remanufacture all types of automobile parts and accessories. Due to growth rate of online parts sales, technology improvements, digitalization of vehicle repair and component sales has emerged, which has supported growth of the automotive aftermarket industry.
Automotive Shock Absorber Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive shock absorber market analysis are type, design, and vehicle type.
- Based on type, the automotive shock absorber market is divided into Hydraulic, and Pneumatic.
- Based on design, the automotive shock absorber market is divided into Twin Tube and Mono Tube.
- On the basis of vehicle type, the market is divided into Passenger Cars and Commercial Vehicles.
Automotive Shock Absorber Market Share Analysis by Geography
Automotive Shock Absorber 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 shock absorber 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 shock absorber market in these regions.
Automotive Shock Absorber Market Report Scope
Automotive Shock Absorber Market News and Recent Developments
The automotive shock absorber 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 shock absorber market are listed below:
- Tenneco’s globally recognized Öhlins® Racing business has set its sights on market leadership in the truck and SUV performance category with a new portfolio of ultra-premium suspension systems. New Öhlins ÖRX™ suspension products feature several of the latest Öhlins technologies and other features preferred by racing champions and enthusiasts who want to experience new levels of driving precision, performance and excitement. (Source: Öhlins® Racing, Company Website, May 2023)
Automotive Shock Absorber Market Report Coverage and Deliverables
The “Automotive Shock Absorber Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive shock absorber market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive shock absorber market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive shock absorber 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 shock absorber 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
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the automotive shock absorber market are Apollo, Arnott Inc., Bilstein, Duro Shox Pvt. Ltd., Gabriel India Ltd., and Hitachi.
The market is witnessing a focus on future technology trends and upcoming technologies in the automotive suspension system industry.
The global automotive shock absorber market is expected to grow at a CAGR of 4.5% during the forecast period 2023 - 2031.
The demand for comfortable driving experiences such as easy handling, sitting structure, and aerodynamics has risen significantly in recent years.
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 Shock Absorber Market - By Type
1.3.2 Automotive Shock Absorber Market - By Design
1.3.3 Automotive Shock Absorber Market - By Vehicle Type
1.3.4 Automotive Shock Absorber Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE SHOCK ABSORBER 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 SHOCK ABSORBER 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 SHOCK ABSORBER MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE SHOCK ABSORBER - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE SHOCK ABSORBER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE SHOCK ABSORBER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HYDRAULIC
7.3.1. Overview
7.3.2. Hydraulic Market Forecast and Analysis
7.4. PNEUMATIC
7.4.1. Overview
7.4.2. Pneumatic Market Forecast and Analysis
8. AUTOMOTIVE SHOCK ABSORBER MARKET - REVENUE AND FORECASTS TO 2028 - DESIGN
8.1. OVERVIEW
8.2. DESIGN MARKET FORECASTS AND ANALYSIS
8.3. TWIN TUBE
8.3.1. Overview
8.3.2. Twin Tube Market Forecast and Analysis
8.4. MONO TUBE
8.4.1. Overview
8.4.2. Mono Tube Market Forecast and Analysis
9. AUTOMOTIVE SHOCK ABSORBER MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER CARS
9.3.1. Overview
9.3.2. Passenger Cars Market Forecast and Analysis
9.4. COMMERCIAL VEHICLES
9.4.1. Overview
9.4.2. Commercial Vehicles Market Forecast and Analysis
10. AUTOMOTIVE SHOCK ABSORBER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Shock Absorber Market Overview
10.1.2 North America Automotive Shock Absorber Market Forecasts and Analysis
10.1.3 North America Automotive Shock Absorber Market Forecasts and Analysis - By Type
10.1.4 North America Automotive Shock Absorber Market Forecasts and Analysis - By Design
10.1.5 North America Automotive Shock Absorber Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Automotive Shock Absorber Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Shock Absorber Market
10.1.6.1.1 United States Automotive Shock Absorber Market by Type
10.1.6.1.2 United States Automotive Shock Absorber Market by Design
10.1.6.1.3 United States Automotive Shock Absorber Market by Vehicle Type
10.1.6.2 Canada Automotive Shock Absorber Market
10.1.6.2.1 Canada Automotive Shock Absorber Market by Type
10.1.6.2.2 Canada Automotive Shock Absorber Market by Design
10.1.6.2.3 Canada Automotive Shock Absorber Market by Vehicle Type
10.1.6.3 Mexico Automotive Shock Absorber Market
10.1.6.3.1 Mexico Automotive Shock Absorber Market by Type
10.1.6.3.2 Mexico Automotive Shock Absorber Market by Design
10.1.6.3.3 Mexico Automotive Shock Absorber Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Automotive Shock Absorber Market Overview
10.2.2 Europe Automotive Shock Absorber Market Forecasts and Analysis
10.2.3 Europe Automotive Shock Absorber Market Forecasts and Analysis - By Type
10.2.4 Europe Automotive Shock Absorber Market Forecasts and Analysis - By Design
10.2.5 Europe Automotive Shock Absorber Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Automotive Shock Absorber Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Shock Absorber Market
10.2.6.1.1 Germany Automotive Shock Absorber Market by Type
10.2.6.1.2 Germany Automotive Shock Absorber Market by Design
10.2.6.1.3 Germany Automotive Shock Absorber Market by Vehicle Type
10.2.6.2 France Automotive Shock Absorber Market
10.2.6.2.1 France Automotive Shock Absorber Market by Type
10.2.6.2.2 France Automotive Shock Absorber Market by Design
10.2.6.2.3 France Automotive Shock Absorber Market by Vehicle Type
10.2.6.3 Italy Automotive Shock Absorber Market
10.2.6.3.1 Italy Automotive Shock Absorber Market by Type
10.2.6.3.2 Italy Automotive Shock Absorber Market by Design
10.2.6.3.3 Italy Automotive Shock Absorber Market by Vehicle Type
10.2.6.4 United Kingdom Automotive Shock Absorber Market
10.2.6.4.1 United Kingdom Automotive Shock Absorber Market by Type
10.2.6.4.2 United Kingdom Automotive Shock Absorber Market by Design
10.2.6.4.3 United Kingdom Automotive Shock Absorber Market by Vehicle Type
10.2.6.5 Russia Automotive Shock Absorber Market
10.2.6.5.1 Russia Automotive Shock Absorber Market by Type
10.2.6.5.2 Russia Automotive Shock Absorber Market by Design
10.2.6.5.3 Russia Automotive Shock Absorber Market by Vehicle Type
10.2.6.6 Rest of Europe Automotive Shock Absorber Market
10.2.6.6.1 Rest of Europe Automotive Shock Absorber Market by Type
10.2.6.6.2 Rest of Europe Automotive Shock Absorber Market by Design
10.2.6.6.3 Rest of Europe Automotive Shock Absorber Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Shock Absorber Market Overview
10.3.2 Asia-Pacific Automotive Shock Absorber Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Shock Absorber Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Automotive Shock Absorber Market Forecasts and Analysis - By Design
10.3.5 Asia-Pacific Automotive Shock Absorber Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Automotive Shock Absorber Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Shock Absorber Market
10.3.6.1.1 Australia Automotive Shock Absorber Market by Type
10.3.6.1.2 Australia Automotive Shock Absorber Market by Design
10.3.6.1.3 Australia Automotive Shock Absorber Market by Vehicle Type
10.3.6.2 China Automotive Shock Absorber Market
10.3.6.2.1 China Automotive Shock Absorber Market by Type
10.3.6.2.2 China Automotive Shock Absorber Market by Design
10.3.6.2.3 China Automotive Shock Absorber Market by Vehicle Type
10.3.6.3 India Automotive Shock Absorber Market
10.3.6.3.1 India Automotive Shock Absorber Market by Type
10.3.6.3.2 India Automotive Shock Absorber Market by Design
10.3.6.3.3 India Automotive Shock Absorber Market by Vehicle Type
10.3.6.4 Japan Automotive Shock Absorber Market
10.3.6.4.1 Japan Automotive Shock Absorber Market by Type
10.3.6.4.2 Japan Automotive Shock Absorber Market by Design
10.3.6.4.3 Japan Automotive Shock Absorber Market by Vehicle Type
10.3.6.5 South Korea Automotive Shock Absorber Market
10.3.6.5.1 South Korea Automotive Shock Absorber Market by Type
10.3.6.5.2 South Korea Automotive Shock Absorber Market by Design
10.3.6.5.3 South Korea Automotive Shock Absorber Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Automotive Shock Absorber Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Shock Absorber Market by Type
10.3.6.6.2 Rest of Asia-Pacific Automotive Shock Absorber Market by Design
10.3.6.6.3 Rest of Asia-Pacific Automotive Shock Absorber Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Shock Absorber Market Overview
10.4.2 Middle East and Africa Automotive Shock Absorber Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Shock Absorber Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Automotive Shock Absorber Market Forecasts and Analysis - By Design
10.4.5 Middle East and Africa Automotive Shock Absorber Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Automotive Shock Absorber Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Shock Absorber Market
10.4.6.1.1 South Africa Automotive Shock Absorber Market by Type
10.4.6.1.2 South Africa Automotive Shock Absorber Market by Design
10.4.6.1.3 South Africa Automotive Shock Absorber Market by Vehicle Type
10.4.6.2 Saudi Arabia Automotive Shock Absorber Market
10.4.6.2.1 Saudi Arabia Automotive Shock Absorber Market by Type
10.4.6.2.2 Saudi Arabia Automotive Shock Absorber Market by Design
10.4.6.2.3 Saudi Arabia Automotive Shock Absorber Market by Vehicle Type
10.4.6.3 U.A.E Automotive Shock Absorber Market
10.4.6.3.1 U.A.E Automotive Shock Absorber Market by Type
10.4.6.3.2 U.A.E Automotive Shock Absorber Market by Design
10.4.6.3.3 U.A.E Automotive Shock Absorber Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Automotive Shock Absorber Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Shock Absorber Market by Type
10.4.6.4.2 Rest of Middle East and Africa Automotive Shock Absorber Market by Design
10.4.6.4.3 Rest of Middle East and Africa Automotive Shock Absorber Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Shock Absorber Market Overview
10.5.2 South and Central America Automotive Shock Absorber Market Forecasts and Analysis
10.5.3 South and Central America Automotive Shock Absorber Market Forecasts and Analysis - By Type
10.5.4 South and Central America Automotive Shock Absorber Market Forecasts and Analysis - By Design
10.5.5 South and Central America Automotive Shock Absorber Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Automotive Shock Absorber Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Shock Absorber Market
10.5.6.1.1 Brazil Automotive Shock Absorber Market by Type
10.5.6.1.2 Brazil Automotive Shock Absorber Market by Design
10.5.6.1.3 Brazil Automotive Shock Absorber Market by Vehicle Type
10.5.6.2 Argentina Automotive Shock Absorber Market
10.5.6.2.1 Argentina Automotive Shock Absorber Market by Type
10.5.6.2.2 Argentina Automotive Shock Absorber Market by Design
10.5.6.2.3 Argentina Automotive Shock Absorber Market by Vehicle Type
10.5.6.3 Rest of South and Central America Automotive Shock Absorber Market
10.5.6.3.1 Rest of South and Central America Automotive Shock Absorber Market by Type
10.5.6.3.2 Rest of South and Central America Automotive Shock Absorber Market by Design
10.5.6.3.3 Rest of South and Central America Automotive Shock Absorber Market by Vehicle Type
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 SHOCK ABSORBER MARKET, KEY COMPANY PROFILES
12.1. HITACHI AUTOMOTIVE SYSTEMS, LTD.
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. KONI BV (ITT INC.)
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. KYB CORPORATION
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. MANDO CORPORATION
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. MERITOR, INC.
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. MOTHERSON GROUP
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. SHOWA CORPORATION
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. TENNECO INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. THYSSENKRUPP AG
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. ZF FRIEDRICHSHAFEN AG
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
The List of Companies
1. Hitachi Automotive Systems, Ltd.
2. KONI BV (ITT Inc.)
3. KYB Corporation
4. Mando Corporation
5. Meritor, Inc.
6. Motherson Group
7. Showa Corporation
8. Tenneco Inc.
9. Thyssenkrupp AG
10. ZF Friedrichshafen AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For