Brass Rods Market Growth and Size by 2031
The Brass Rods Market is expected to register a CAGR of 3% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by product type (extruded brass rod, cast brass rod and drawn brass rod). The report further presents analysis based on end use industry (automotive, electrical and electronics, construction, industrial machinery and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Brass Rods 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.
Brass Rods Market Segmentation
Product Type- Extruded Brass Rod
- Cast Brass Rod and Drawn Brass Rod
- Automotive
- Electrical and Electronics
- Construction
- Industrial Machinery and Others
Strategic Insights
Brass Rods Market Growth Drivers- Brass Rods' Versatility Drives Demand Across Multiple Industries: Brass rods exhibit excellent machinability, good corrosion resistance, and aesthetics, making them a suitable candidate for wide-ranging applications in various industries, such as electrical, plumbing, and industrial machinery.
- Automotive and Construction Sectors Propel Brass Rods Market Growth: The automotive and construction sectors are the key end use industries of brass rods, as the rods have broad applications in fittings, connectors, and plumbing fixtures. As these industries expand further with further development in urbanization and infrastructure, an increase in the demand for brass rods will be driven.
- Technological Advancements Enhance Production Efficiency and Quality of Brass Rods: The increased efficiency and quality of brass rods in the production process are found in improved extrusion and casting manufacturing technologies. The technological developments enable manufacturers to produce rods with high tolerance and better surface finish, thus meeting the escalating demands of precision engineering. Further, advanced technology is anticipated to reduce production costs and improve product availability, driving market growth.
- Lead-Free Brass Rods Gain Popularity Due to Health and Environmental Regulations: Due to the emergent environmental and healthcare regulations, lead-free brass rods have gained more popularity with respect to production and usage. Lead-free brass rods are manufactured without lead content, making them safe for use in applications where they are used in various sectors like plumbing, electrical, and construction sectors. Adopting lead-free alternatives serves the regulatory needs and meets the consumer's requirements for safety, thereby creating massive market space for manufacturers who focus on sustainable practices.
- Technological Advances in Brass Rod Manufacturing Enhance Efficiency and Cost-Effectiveness: Advances in technology in brass rod manufacturing processes include high-technology extrusion and casting. In addition, manufacturers investing in modern technologies reduce production costs and thus improve product availability, thereby driving the brass rods market.
- Smart Manufacturing Technologies, Including IoT, Revolutionize Brass Rod Production: Smart integration of manufacturing technologies, including automation and IoT, is changing the brass rods market. These technologies allow for online monitoring of the production process to ensure efficiency with less waste generation than in previous times.
- Opportunities in Advanced Manufacturing: Advanced manufacturing technologies, like automation and 3D printing, offer great opportunities for the brass rods market. These significantly increase production efficiency, reduce waste, and even enable complex geometries compared to conventional methods.
- Supply Chain Digitalization with IoT and Blockchain Optimizes Logistics and Improves Transparency: Supply chain digitalization is another one of the most significant opportunities. IoT and Blockchain can be used in ways to make the supply chain more transparent and trackable. It aids manufacturers with real-time knowledge of inventory levels, allows optimization in logistics with the right model structures, and ensures a shorter lead time. Companies can reduce costs and improve customer satisfaction through streamlining operations and enhancing communication between the stakeholders in the competitive market.
- Brass Rod Market Shifts Towards Sustainability and Increased Investment in Lead-Free and Environmentally-Friendly Production: The brass rods market is expected to transition towards sustainability in the coming years. Companies are investing heavily in the environmental-friendly production and lead-free brass, among other materials. These manufacturers not only fulfill the demands of the regulatory aspect but also attract sustainable consumers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Brass Rods 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 Brass Rods Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The shift towards lead-free brass rods and advancements in manufacturing processes are expected to be the key market trends
Based on geography, Asia Pacific held the largest share of the brass rods market due to the high demand for brass rods in the end use indsutries such as automotive and construction industries
Based on product type, the extruded brass rod segment is expected to witness the fastest growth during the forecast period
Mitsubishi Materials Corporation; Hi-Tech Extrusion LLP; KME GERMANY GMBH; Metal Alloys Corporation; Mueller Brass Co are some of the key players operating in the brass rods market
The Brass Rods Market is estimated to witness a CAGR of 3% from 2023 to 2031
Increasing demand in automotive and construction industries are driving the market growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Brass Rods Market - By Grade
1.3.2 Brass Rods Market - By Product Type
1.3.3 Brass Rods Market - By End-Use
1.3.4 Brass Rods Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BRASS RODS 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. BRASS RODS 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. BRASS RODS MARKET - GLOBAL MARKET ANALYSIS
6.1. BRASS RODS - GLOBAL MARKET OVERVIEW
6.2. BRASS RODS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BRASS RODS MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
7.1. OVERVIEW
7.2. GRADE MARKET FORECASTS AND ANALYSIS
7.3. FREE CUTTING BRASS RODS
7.3.1. Overview
7.3.2. Free Cutting Brass Rods Market Forecast and Analysis
7.4. FORGING BRASS RODS
7.4.1. Overview
7.4.2. Forging Brass Rods Market Forecast and Analysis
7.5. HIGH-TENSILE BRASS RODS
7.5.1. Overview
7.5.2. High-tensile Brass Rods Market Forecast and Analysis
7.6. NAVAL BRASS RODS
7.6.1. Overview
7.6.2. Naval Brass Rods Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. BRASS RODS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. EXTRUDED RODS
8.3.1. Overview
8.3.2. Extruded Rods Market Forecast and Analysis
8.4. HOLLOW RODS
8.4.1. Overview
8.4.2. Hollow Rods Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. BRASS RODS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
9.1. OVERVIEW
9.2. END-USE MARKET FORECASTS AND ANALYSIS
9.3. INDUSTRIAL MACHINERY
9.3.1. Overview
9.3.2. Industrial Machinery Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. ELECTRICAL AND ELECTRONICS
9.5.1. Overview
9.5.2. Electrical and Electronics Market Forecast and Analysis
9.6. PLUMBING FITTINGS
9.6.1. Overview
9.6.2. Plumbing fittings Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. BRASS RODS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Brass Rods Market Overview
10.1.2 North America Brass Rods Market Forecasts and Analysis
10.1.3 North America Brass Rods Market Forecasts and Analysis - By Grade
10.1.4 North America Brass Rods Market Forecasts and Analysis - By Product Type
10.1.5 North America Brass Rods Market Forecasts and Analysis - By End-Use
10.1.6 North America Brass Rods Market Forecasts and Analysis - By Countries
10.1.6.1 United States Brass Rods Market
10.1.6.1.1 United States Brass Rods Market by Grade
10.1.6.1.2 United States Brass Rods Market by Product Type
10.1.6.1.3 United States Brass Rods Market by End-Use
10.1.6.2 Canada Brass Rods Market
10.1.6.2.1 Canada Brass Rods Market by Grade
10.1.6.2.2 Canada Brass Rods Market by Product Type
10.1.6.2.3 Canada Brass Rods Market by End-Use
10.1.6.3 Mexico Brass Rods Market
10.1.6.3.1 Mexico Brass Rods Market by Grade
10.1.6.3.2 Mexico Brass Rods Market by Product Type
10.1.6.3.3 Mexico Brass Rods Market by End-Use
10.2. EUROPE
10.2.1 Europe Brass Rods Market Overview
10.2.2 Europe Brass Rods Market Forecasts and Analysis
10.2.3 Europe Brass Rods Market Forecasts and Analysis - By Grade
10.2.4 Europe Brass Rods Market Forecasts and Analysis - By Product Type
10.2.5 Europe Brass Rods Market Forecasts and Analysis - By End-Use
10.2.6 Europe Brass Rods Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Brass Rods Market
10.2.6.1.1 Germany Brass Rods Market by Grade
10.2.6.1.2 Germany Brass Rods Market by Product Type
10.2.6.1.3 Germany Brass Rods Market by End-Use
10.2.6.2 France Brass Rods Market
10.2.6.2.1 France Brass Rods Market by Grade
10.2.6.2.2 France Brass Rods Market by Product Type
10.2.6.2.3 France Brass Rods Market by End-Use
10.2.6.3 Italy Brass Rods Market
10.2.6.3.1 Italy Brass Rods Market by Grade
10.2.6.3.2 Italy Brass Rods Market by Product Type
10.2.6.3.3 Italy Brass Rods Market by End-Use
10.2.6.4 United Kingdom Brass Rods Market
10.2.6.4.1 United Kingdom Brass Rods Market by Grade
10.2.6.4.2 United Kingdom Brass Rods Market by Product Type
10.2.6.4.3 United Kingdom Brass Rods Market by End-Use
10.2.6.5 Russia Brass Rods Market
10.2.6.5.1 Russia Brass Rods Market by Grade
10.2.6.5.2 Russia Brass Rods Market by Product Type
10.2.6.5.3 Russia Brass Rods Market by End-Use
10.2.6.6 Rest of Europe Brass Rods Market
10.2.6.6.1 Rest of Europe Brass Rods Market by Grade
10.2.6.6.2 Rest of Europe Brass Rods Market by Product Type
10.2.6.6.3 Rest of Europe Brass Rods Market by End-Use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Brass Rods Market Overview
10.3.2 Asia-Pacific Brass Rods Market Forecasts and Analysis
10.3.3 Asia-Pacific Brass Rods Market Forecasts and Analysis - By Grade
10.3.4 Asia-Pacific Brass Rods Market Forecasts and Analysis - By Product Type
10.3.5 Asia-Pacific Brass Rods Market Forecasts and Analysis - By End-Use
10.3.6 Asia-Pacific Brass Rods Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Brass Rods Market
10.3.6.1.1 Australia Brass Rods Market by Grade
10.3.6.1.2 Australia Brass Rods Market by Product Type
10.3.6.1.3 Australia Brass Rods Market by End-Use
10.3.6.2 China Brass Rods Market
10.3.6.2.1 China Brass Rods Market by Grade
10.3.6.2.2 China Brass Rods Market by Product Type
10.3.6.2.3 China Brass Rods Market by End-Use
10.3.6.3 India Brass Rods Market
10.3.6.3.1 India Brass Rods Market by Grade
10.3.6.3.2 India Brass Rods Market by Product Type
10.3.6.3.3 India Brass Rods Market by End-Use
10.3.6.4 Japan Brass Rods Market
10.3.6.4.1 Japan Brass Rods Market by Grade
10.3.6.4.2 Japan Brass Rods Market by Product Type
10.3.6.4.3 Japan Brass Rods Market by End-Use
10.3.6.5 South Korea Brass Rods Market
10.3.6.5.1 South Korea Brass Rods Market by Grade
10.3.6.5.2 South Korea Brass Rods Market by Product Type
10.3.6.5.3 South Korea Brass Rods Market by End-Use
10.3.6.6 Rest of Asia-Pacific Brass Rods Market
10.3.6.6.1 Rest of Asia-Pacific Brass Rods Market by Grade
10.3.6.6.2 Rest of Asia-Pacific Brass Rods Market by Product Type
10.3.6.6.3 Rest of Asia-Pacific Brass Rods Market by End-Use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Brass Rods Market Overview
10.4.2 Middle East and Africa Brass Rods Market Forecasts and Analysis
10.4.3 Middle East and Africa Brass Rods Market Forecasts and Analysis - By Grade
10.4.4 Middle East and Africa Brass Rods Market Forecasts and Analysis - By Product Type
10.4.5 Middle East and Africa Brass Rods Market Forecasts and Analysis - By End-Use
10.4.6 Middle East and Africa Brass Rods Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Brass Rods Market
10.4.6.1.1 South Africa Brass Rods Market by Grade
10.4.6.1.2 South Africa Brass Rods Market by Product Type
10.4.6.1.3 South Africa Brass Rods Market by End-Use
10.4.6.2 Saudi Arabia Brass Rods Market
10.4.6.2.1 Saudi Arabia Brass Rods Market by Grade
10.4.6.2.2 Saudi Arabia Brass Rods Market by Product Type
10.4.6.2.3 Saudi Arabia Brass Rods Market by End-Use
10.4.6.3 U.A.E Brass Rods Market
10.4.6.3.1 U.A.E Brass Rods Market by Grade
10.4.6.3.2 U.A.E Brass Rods Market by Product Type
10.4.6.3.3 U.A.E Brass Rods Market by End-Use
10.4.6.4 Rest of Middle East and Africa Brass Rods Market
10.4.6.4.1 Rest of Middle East and Africa Brass Rods Market by Grade
10.4.6.4.2 Rest of Middle East and Africa Brass Rods Market by Product Type
10.4.6.4.3 Rest of Middle East and Africa Brass Rods Market by End-Use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Brass Rods Market Overview
10.5.2 South and Central America Brass Rods Market Forecasts and Analysis
10.5.3 South and Central America Brass Rods Market Forecasts and Analysis - By Grade
10.5.4 South and Central America Brass Rods Market Forecasts and Analysis - By Product Type
10.5.5 South and Central America Brass Rods Market Forecasts and Analysis - By End-Use
10.5.6 South and Central America Brass Rods Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Brass Rods Market
10.5.6.1.1 Brazil Brass Rods Market by Grade
10.5.6.1.2 Brazil Brass Rods Market by Product Type
10.5.6.1.3 Brazil Brass Rods Market by End-Use
10.5.6.2 Argentina Brass Rods Market
10.5.6.2.1 Argentina Brass Rods Market by Grade
10.5.6.2.2 Argentina Brass Rods Market by Product Type
10.5.6.2.3 Argentina Brass Rods Market by End-Use
10.5.6.3 Rest of South and Central America Brass Rods Market
10.5.6.3.1 Rest of South and Central America Brass Rods Market by Grade
10.5.6.3.2 Rest of South and Central America Brass Rods Market by Product Type
10.5.6.3.3 Rest of South and Central America Brass Rods Market by End-Use
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. BRASS RODS MARKET, KEY COMPANY PROFILES
12.1. CHHAJED STEEL AND ALLOYS
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. GOLD METAL EXTRUSION
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. HI-TECH EXTRUSION LLP
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. KME GERMANY GMBH
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. METAL ALLOYS CORPORATION.
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. MITSUBISHI MATERIALS CORPORATION
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. MUELLER BRASS CO.
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. POONGSAN AMERICA CORPORATION
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. VARIETY METALS PVT LTD.
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. WIELAND GROUP
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. Chhajed Steel and Alloys
2. Gold Metal Extrusion
3. Hi-Tech Extrusion LLP
4. KME GERMANY GMBH
5. Metal Alloys Corporation.
6. Mitsubishi Materials Corporation
7. Mueller Brass Co.
8. Poongsan America Corporation
9. Variety Metals Pvt Ltd.
10. Wieland Group
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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