Battery Separators Market Scope and Size by 2031
The battery separators market is expected to grow from US$ 5.6 billion in 2022 and it is estimated to grow at a CAGR of 9.0% between 2022 and 2031.
The battery separator is a type of polymeric membrane placed between the positively charged anode and the negatively charged cathode. This positioning of battery separator helps prevent electrical short circuiting. The performance of different types of batteries is affected by the materials and structures of the separator. There have been intensive efforts in recent years to develop advanced battery separators for rechargeable lithium-ion batteries used in different applications, such as portable electronics, electric vehicles, and energy storage for power grids. The global battery separators market is segmented on the basis of battery type, material, end-use industry, and geography.
MARKET DYNAMICS
The battery separators market is driven by the rising demand for batteries from different application fields. There is a growing demand for batteries for smartphones and other electrical devices, which, in turn, is creating a huge need for battery separators. Electric vehicles are becoming common in the US, Europe, China, India, and Japan. Electric vehicle is a promising option that contributes to energy diversification and meets the objectives of greenhouse gas emission reduction. China, India, the US, and many countries have passed regulations to encourage the adoption of electric vehicles. Electric vehicles are expanding significantly as technological progress in the electrification of two/three-wheelers, buses, and trucks advances and their market grows. The continued electrification of transport creates demand for vast volumes of batteries, which drives the growth of the battery separators market.
MARKET SCOPE
The "Global Battery Separators Market Forecast to 2031" report aims to provide an overview of the battery separators market with detailed market segmentation based on battery type, material, and end-use industry. The report provides key statistics based on the performance of the leading market players. It also offers key trends and opportunities in the battery separators market.
Strategic Insights
MARKET SEGMENTATION
The global battery separators market is segmented on the basis of battery type, material, and end-use industry. Based on battery type, the market is segmented into lithium-ion battery, lead acid battery, alkaline battery, and others. By material, the market is segmented into polypropylene, polyethylene, polyolefin, and others. Based on end-use industry, the market is segmented into automotive, consumer electronics, industrial, and others.
The global battery separators market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trends and opportunities prevailing in the region.
From the regional perspective, the battery separators market in Asia-Pacific is expected to witness fastest growth during the forecast period. China is one of the major markets for electric vehicles. The Indian government is also taking various steps to promote the manufacturing of electric vehicles. Therefore, the growing demand for batteries for electric vehicles and various other electrical devices drives the battery separators market growth in the region. The strong presence of the consumer electronics industry in China, India, and Japan also fuels the market growth. The below figure shows the revenue growth trend in the battery separators market:
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impacts the battery separators market. The report also provides exhaustive Porter's five forces analysis of the factors influencing the battery separators market in these regions.
IMPACT OF COVID-19 PANDEMIC
Before the COVID-19 pandemic, the battery separators market has been mainly driven by the growing use of battery separators in various end-use industries, such as automotive and consumer electronics. However, the pandemic negatively impacted the growth of the market. The significant decline in the growth of the several industrial sectors reduced the demand for battery separators in the global market. The global market for all types of cars was significantly disrupted due to the pandemic. The COVID-19 pandemic dramatically declined the sales of electric cars and had a negative impact on the global consumer electronics market.
As the economies are reviving their operations, the demand for battery separators is improving. The sales of electric vehicles have increased in 2021, with growth in all three top auto markets China, the US, and Europe. In the US, according to the car registration data from Experian, about 378,466 electric vehicles were registered from January to October 2021, which was 94% more than in 2021. Many consumer electronics companies have also started seeing an increase in sales due to growing demand. Therefore, the growing demand for electric vehicles and various electronics devices is expected to drive the demand for battery separators in the coming years.
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The global battery separators market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trends and opportunities prevailing in the region.
From the regional perspective, the battery separators market in Asia-Pacific is expected to witness fastest growth during the forecast period. China is one of the major markets for electric vehicles. The Indian government is also taking various steps to promote the manufacturing of electric vehicles. Therefore, the growing demand for batteries for electric vehicles and various other electrical devices drives the battery separators market growth in the region. The strong presence of the consumer electronics industry in China, India, and Japan also fuels the market growth. The below figure shows the revenue growth trend in the battery separators market:
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impacts the battery separators market. The report also provides exhaustive Porter's five forces analysis of the factors influencing the battery separators market in these regions.
IMPACT OF COVID-19 PANDEMIC
Before the COVID-19 pandemic, the battery separators market has been mainly driven by the growing use of battery separators in various end-use industries, such as automotive and consumer electronics. However, the pandemic negatively impacted the growth of the market. The significant decline in the growth of the several industrial sectors reduced the demand for battery separators in the global market. The global market for all types of cars was significantly disrupted due to the pandemic. The COVID-19 pandemic dramatically declined the sales of electric cars and had a negative impact on the global consumer electronics market.
As the economies are reviving their operations, the demand for battery separators is improving. The sales of electric vehicles have increased in 2021, with growth in all three top auto markets China, the US, and Europe. In the US, according to the car registration data from Experian, about 378,466 electric vehicles were registered from January to October 2021, which was 94% more than in 2021. Many consumer electronics companies have also started seeing an increase in sales due to growing demand. Therefore, the growing demand for electric vehicles and various electronics devices is expected to drive the demand for battery separators in the coming years.
MARKET PLAYERS
The reports cover key developments in the battery separators market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Acquisitions, and partnership & collaborations are among the inorganic growth strategic activities witnessed in the market. These activities have paved way for the expansion of business and customer base of market players. The market players from battery separators market are anticipated to experience lucrative growth opportunities in the future due to the rising demand for battery separators.
The report includes the profiles of key battery separators market companies along with their SWOT analysis and market strategies. In addition, it focuses on leading industry players’ information such as company profiles, components and services offered, financial information of last three years, and key development in past five years. Below mentioned is the list of a few companies engaged in the battery separators market.
- TORAY INDUSTRIES, INC.
- Asahi Kasei Corporation
- ENTEK
- Sumitomo Chemical
- Dreamweaver International
- Bernard Dumas
- UBE Corporation
- W-SCOPE CORPORATION
- SK Innovation Co., Ltd.
- Daramic
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Battery Type, Material, End-Use Industry, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
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 Battery Separators Market - By Battery Type
1.3.2 Battery Separators Market - By Material
1.3.3 Battery Separators Market - By End use industry
1.3.4 Battery Separators Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BATTERY SEPARATORS 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. EXPERT OPINIONS
5. BATTERY SEPARATORS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BATTERY SEPARATORS MARKET - GLOBAL MARKET ANALYSIS
6.1. BATTERY SEPARATORS - GLOBAL MARKET OVERVIEW
6.2. BATTERY SEPARATORS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BATTERY SEPARATORS MARKET - REVENUE AND FORECASTS TO 2028 - BATTERY TYPE
7.1. OVERVIEW
7.2. BATTERY TYPE MARKET FORECASTS AND ANALYSIS
7.3. LEAD ACID
7.3.1. Overview
7.3.2. Lead Acid Market Forecast and Analysis
7.4. LITHIUM- ION
7.4.1. Overview
7.4.2. Lithium- ion Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. BATTERY SEPARATORS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
8.1. OVERVIEW
8.2. MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. POLYETHYLENE
8.3.1. Overview
8.3.2. Polyethylene Market Forecast and Analysis
8.4. POLYPROPYLENE
8.4.1. Overview
8.4.2. Polypropylene Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. BATTERY SEPARATORS MARKET - REVENUE AND FORECASTS TO 2028 - END USE INDUSTRY
9.1. OVERVIEW
9.2. END USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. CONSUMER ELECTRONICS
9.4.1. Overview
9.4.2. Consumer Electronics Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. BATTERY SEPARATORS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Battery Separators Market Overview
10.1.2 North America Battery Separators Market Forecasts and Analysis
10.1.3 North America Battery Separators Market Forecasts and Analysis - By Battery Type
10.1.4 North America Battery Separators Market Forecasts and Analysis - By Material
10.1.5 North America Battery Separators Market Forecasts and Analysis - By End use industry
10.1.6 North America Battery Separators Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Battery Separators Market
10.1.6.1.1 Canada Battery Separators Market by Battery Type
10.1.6.1.2 Canada Battery Separators Market by Material
10.1.6.1.3 Canada Battery Separators Market by End use industry
10.1.6.2 Mexico Battery Separators Market
10.1.6.2.1 Mexico Battery Separators Market by Battery Type
10.1.6.2.2 Mexico Battery Separators Market by Material
10.1.6.2.3 Mexico Battery Separators Market by End use industry
10.1.6.3 US Battery Separators Market
10.1.6.3.1 US Battery Separators Market by Battery Type
10.1.6.3.2 US Battery Separators Market by Material
10.1.6.3.3 US Battery Separators Market by End use industry
10.2. EUROPE
10.2.1 Europe Battery Separators Market Overview
10.2.2 Europe Battery Separators Market Forecasts and Analysis
10.2.3 Europe Battery Separators Market Forecasts and Analysis - By Battery Type
10.2.4 Europe Battery Separators Market Forecasts and Analysis - By Material
10.2.5 Europe Battery Separators Market Forecasts and Analysis - By End use industry
10.2.6 Europe Battery Separators Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Battery Separators Market
10.2.6.1.1 Germany Battery Separators Market by Battery Type
10.2.6.1.2 Germany Battery Separators Market by Material
10.2.6.1.3 Germany Battery Separators Market by End use industry
10.2.6.2 France Battery Separators Market
10.2.6.2.1 France Battery Separators Market by Battery Type
10.2.6.2.2 France Battery Separators Market by Material
10.2.6.2.3 France Battery Separators Market by End use industry
10.2.6.3 Italy Battery Separators Market
10.2.6.3.1 Italy Battery Separators Market by Battery Type
10.2.6.3.2 Italy Battery Separators Market by Material
10.2.6.3.3 Italy Battery Separators Market by End use industry
10.2.6.4 United Kingdom Battery Separators Market
10.2.6.4.1 United Kingdom Battery Separators Market by Battery Type
10.2.6.4.2 United Kingdom Battery Separators Market by Material
10.2.6.4.3 United Kingdom Battery Separators Market by End use industry
10.2.6.5 Russia Battery Separators Market
10.2.6.5.1 Russia Battery Separators Market by Battery Type
10.2.6.5.2 Russia Battery Separators Market by Material
10.2.6.5.3 Russia Battery Separators Market by End use industry
10.2.6.6 Rest of Europe Battery Separators Market
10.2.6.6.1 Rest of Europe Battery Separators Market by Battery Type
10.2.6.6.2 Rest of Europe Battery Separators Market by Material
10.2.6.6.3 Rest of Europe Battery Separators Market by End use industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Battery Separators Market Overview
10.3.2 Asia-Pacific Battery Separators Market Forecasts and Analysis
10.3.3 Asia-Pacific Battery Separators Market Forecasts and Analysis - By Battery Type
10.3.4 Asia-Pacific Battery Separators Market Forecasts and Analysis - By Material
10.3.5 Asia-Pacific Battery Separators Market Forecasts and Analysis - By End use industry
10.3.6 Asia-Pacific Battery Separators Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Battery Separators Market
10.3.6.1.1 Australia Battery Separators Market by Battery Type
10.3.6.1.2 Australia Battery Separators Market by Material
10.3.6.1.3 Australia Battery Separators Market by End use industry
10.3.6.2 China Battery Separators Market
10.3.6.2.1 China Battery Separators Market by Battery Type
10.3.6.2.2 China Battery Separators Market by Material
10.3.6.2.3 China Battery Separators Market by End use industry
10.3.6.3 India Battery Separators Market
10.3.6.3.1 India Battery Separators Market by Battery Type
10.3.6.3.2 India Battery Separators Market by Material
10.3.6.3.3 India Battery Separators Market by End use industry
10.3.6.4 Japan Battery Separators Market
10.3.6.4.1 Japan Battery Separators Market by Battery Type
10.3.6.4.2 Japan Battery Separators Market by Material
10.3.6.4.3 Japan Battery Separators Market by End use industry
10.3.6.5 South Korea Battery Separators Market
10.3.6.5.1 South Korea Battery Separators Market by Battery Type
10.3.6.5.2 South Korea Battery Separators Market by Material
10.3.6.5.3 South Korea Battery Separators Market by End use industry
10.3.6.6 Rest of Asia-Pacific Battery Separators Market
10.3.6.6.1 Rest of Asia-Pacific Battery Separators Market by Battery Type
10.3.6.6.2 Rest of Asia-Pacific Battery Separators Market by Material
10.3.6.6.3 Rest of Asia-Pacific Battery Separators Market by End use industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Battery Separators Market Overview
10.4.2 Middle East and Africa Battery Separators Market Forecasts and Analysis
10.4.3 Middle East and Africa Battery Separators Market Forecasts and Analysis - By Battery Type
10.4.4 Middle East and Africa Battery Separators Market Forecasts and Analysis - By Material
10.4.5 Middle East and Africa Battery Separators Market Forecasts and Analysis - By End use industry
10.4.6 Middle East and Africa Battery Separators Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Battery Separators Market
10.4.6.1.1 South Africa Battery Separators Market by Battery Type
10.4.6.1.2 South Africa Battery Separators Market by Material
10.4.6.1.3 South Africa Battery Separators Market by End use industry
10.4.6.2 Saudi Arabia Battery Separators Market
10.4.6.2.1 Saudi Arabia Battery Separators Market by Battery Type
10.4.6.2.2 Saudi Arabia Battery Separators Market by Material
10.4.6.2.3 Saudi Arabia Battery Separators Market by End use industry
10.4.6.3 U.A.E Battery Separators Market
10.4.6.3.1 U.A.E Battery Separators Market by Battery Type
10.4.6.3.2 U.A.E Battery Separators Market by Material
10.4.6.3.3 U.A.E Battery Separators Market by End use industry
10.4.6.4 Rest of Middle East and Africa Battery Separators Market
10.4.6.4.1 Rest of Middle East and Africa Battery Separators Market by Battery Type
10.4.6.4.2 Rest of Middle East and Africa Battery Separators Market by Material
10.4.6.4.3 Rest of Middle East and Africa Battery Separators Market by End use industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Battery Separators Market Overview
10.5.2 South and Central America Battery Separators Market Forecasts and Analysis
10.5.3 South and Central America Battery Separators Market Forecasts and Analysis - By Battery Type
10.5.4 South and Central America Battery Separators Market Forecasts and Analysis - By Material
10.5.5 South and Central America Battery Separators Market Forecasts and Analysis - By End use industry
10.5.6 South and Central America Battery Separators Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Battery Separators Market
10.5.6.1.1 Brazil Battery Separators Market by Battery Type
10.5.6.1.2 Brazil Battery Separators Market by Material
10.5.6.1.3 Brazil Battery Separators Market by End use industry
10.5.6.2 Argentina Battery Separators Market
10.5.6.2.1 Argentina Battery Separators Market by Battery Type
10.5.6.2.2 Argentina Battery Separators Market by Material
10.5.6.2.3 Argentina Battery Separators Market by End use industry
10.5.6.3 Rest of South and Central America Battery Separators Market
10.5.6.3.1 Rest of South and Central America Battery Separators Market by Battery Type
10.5.6.3.2 Rest of South and Central America Battery Separators Market by Material
10.5.6.3.3 Rest of South and Central America Battery Separators Market by End use industry
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. BATTERY SEPARATORS MARKET, KEY COMPANY PROFILES
12.1. ASAHI KASEI
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. BERNARD DUMAS
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. DREAMWEAVER INTERNATIONAL
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. ENTEK INTERNATIONAL
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. FREUDENBERG GROUP
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. SK INNOVATION COMPANY
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. SUMITOMO CHEMICAL
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. TORAY INDUSTRY
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. UBE INDUSTRIES
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. W-SCOPE INDUSTRIES
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. Asahi Kasei
2. Bernard Dumas
3. Dreamweaver International
4. Entek International
5. Freudenberg Group
6. SK Innovation Company
7. Sumitomo Chemical
8. Toray Industry
9. Ube Industries
10. W-Scope Industries
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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