Coal Gasification Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Gasification of coal is a process of converting coal into gas (primarily including natural gas, hydrogen, carbon dioxide, and water vapor). This gases are then used as an eco-friendly fuel. Coal gasification is used for electricity generation and to produce chemical feedstocks. Several chemical compounds such as ammonia are produced during coal gasification process which aids in the production of chemical feedstock. Additionally, the gases released can be used to procure liquid fuel which can further be used across the transportation industry.
MARKET DYNAMICS
The increase in demand for energy across the globe owing to rapid industrialization and growing awareness of environmental impact of burning fossil fuel is contributing to the demand for coal gasification to be used for energy production. These factors are expected to contribute to the growth of the global coal gasification market over the forecast period.
MARKET SCOPE
The "Global Coal Gasification Market Analysis To 2028" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The coal gasification market report aims to provide an overview of the coal gasification market with detailed market segmentation by feedstock type, application, gasifier, and geography. The global coal gasification market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading coal gasification market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global coal gasification market is segmented based on feedstock type, application, gasifier. Based on feedstock type, the coal gasification market is segmented into coal, petroleum coke, natural gas, biomass, other. Based on application, the coal gasification market is segmented into chemicals and fertilizers, liquid fuels, gaseous fuels, others. Based on gasifier, the coal gasification market is segmented into fixed bed, entrained flow, fluidized bed.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global coal gasification market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The coal gasification market by each region is later sub-segmented by respective countries and segments. The coal gasification market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the coal gasification market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the coal gasification market in these regions.
IMPACT OF COVID-19 ON COAL GASIFICATION MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global coal gasification market. The demand for coal gasification from the end use industries declined significantly owing to strict lockdown imposed by government bodies which affect the demand side of the market. Additionally, the stringent lockdown imposed by various government bodies across impacted the coal gasification system manufacturing thereby impacting the growth of the global coal gasification market from the supply side as well.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global coal gasification market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The coal gasification market by each region is later sub-segmented by respective countries and segments. The coal gasification market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the coal gasification market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the coal gasification market in these regions.
IMPACT OF COVID-19 ON COAL GASIFICATION MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global coal gasification market. The demand for coal gasification from the end use industries declined significantly owing to strict lockdown imposed by government bodies which affect the demand side of the market. Additionally, the stringent lockdown imposed by various government bodies across impacted the coal gasification system manufacturing thereby impacting the growth of the global coal gasification market from the supply side as well.
MARKET PLAYERS
The reports cover key developments in the coal gasification market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from coal gasification market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the coal gasification market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the coal gasification market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Air Liquide
- Dakota Gasification Company
- General Electric Company
- KBR, Inc.
- Mitsubishi Heavy Industries, Ltd.
- McDermott International, Inc
- Petrochemical Corporation of Singapore (Private) Limited
- Royal Dutch Shell Plc
- Sedin Engineering
- ThyssenKrupp AG
- 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
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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Coal Gasification Market - By Feedstock Type
1.3.2 Coal Gasification Market - By Application
1.3.3 Coal Gasification Market - By Gasifier
1.3.4 Coal Gasification Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. COAL GASIFICATION 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. EXPERT OPINIONS
5. COAL GASIFICATION 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. COAL GASIFICATION MARKET - GLOBAL MARKET ANALYSIS
6.1. COAL GASIFICATION - GLOBAL MARKET OVERVIEW
6.2. COAL GASIFICATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COAL GASIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - FEEDSTOCK TYPE
7.1. OVERVIEW
7.2. FEEDSTOCK TYPE MARKET FORECASTS AND ANALYSIS
7.3. COAL
7.3.1. Overview
7.3.2. Coal Market Forecast and Analysis
7.4. PETROLEUM COKE
7.4.1. Overview
7.4.2. Petroleum Coke Market Forecast and Analysis
7.5. NATURAL GAS
7.5.1. Overview
7.5.2. Natural Gas Market Forecast and Analysis
7.6. BIOMASS
7.6.1. Overview
7.6.2. Biomass Market Forecast and Analysis
7.7. OTHER
7.7.1. Overview
7.7.2. Other Market Forecast and Analysis
8. COAL GASIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CHEMICALS AND FERTILIZERS
8.3.1. Overview
8.3.2. Chemicals and Fertilizers Market Forecast and Analysis
8.4. LIQUID FUELS
8.4.1. Overview
8.4.2. Liquid Fuels Market Forecast and Analysis
8.5. GASEOUS FUELS
8.5.1. Overview
8.5.2. Gaseous Fuels Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. COAL GASIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - GASIFIER
9.1. OVERVIEW
9.2. GASIFIER MARKET FORECASTS AND ANALYSIS
9.3. FIXED BED
9.3.1. Overview
9.3.2. Fixed Bed Market Forecast and Analysis
9.4. ENTRAINED FLOW
9.4.1. Overview
9.4.2. Entrained Flow Market Forecast and Analysis
9.5. FLUIDIZED BED
9.5.1. Overview
9.5.2. Fluidized Bed Market Forecast and Analysis
10. COAL GASIFICATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Coal Gasification Market Overview
10.1.2 North America Coal Gasification Market Forecasts and Analysis
10.1.3 North America Coal Gasification Market Forecasts and Analysis - By Feedstock Type
10.1.4 North America Coal Gasification Market Forecasts and Analysis - By Application
10.1.5 North America Coal Gasification Market Forecasts and Analysis - By Gasifier
10.1.6 North America Coal Gasification Market Forecasts and Analysis - By Countries
10.1.6.1 United States Coal Gasification Market
10.1.6.1.1 United States Coal Gasification Market by Feedstock Type
10.1.6.1.2 United States Coal Gasification Market by Application
10.1.6.1.3 United States Coal Gasification Market by Gasifier
10.1.6.2 Canada Coal Gasification Market
10.1.6.2.1 Canada Coal Gasification Market by Feedstock Type
10.1.6.2.2 Canada Coal Gasification Market by Application
10.1.6.2.3 Canada Coal Gasification Market by Gasifier
10.1.6.3 Mexico Coal Gasification Market
10.1.6.3.1 Mexico Coal Gasification Market by Feedstock Type
10.1.6.3.2 Mexico Coal Gasification Market by Application
10.1.6.3.3 Mexico Coal Gasification Market by Gasifier
10.2. EUROPE
10.2.1 Europe Coal Gasification Market Overview
10.2.2 Europe Coal Gasification Market Forecasts and Analysis
10.2.3 Europe Coal Gasification Market Forecasts and Analysis - By Feedstock Type
10.2.4 Europe Coal Gasification Market Forecasts and Analysis - By Application
10.2.5 Europe Coal Gasification Market Forecasts and Analysis - By Gasifier
10.2.6 Europe Coal Gasification Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Coal Gasification Market
10.2.6.1.1 Germany Coal Gasification Market by Feedstock Type
10.2.6.1.2 Germany Coal Gasification Market by Application
10.2.6.1.3 Germany Coal Gasification Market by Gasifier
10.2.6.2 France Coal Gasification Market
10.2.6.2.1 France Coal Gasification Market by Feedstock Type
10.2.6.2.2 France Coal Gasification Market by Application
10.2.6.2.3 France Coal Gasification Market by Gasifier
10.2.6.3 Italy Coal Gasification Market
10.2.6.3.1 Italy Coal Gasification Market by Feedstock Type
10.2.6.3.2 Italy Coal Gasification Market by Application
10.2.6.3.3 Italy Coal Gasification Market by Gasifier
10.2.6.4 United Kingdom Coal Gasification Market
10.2.6.4.1 United Kingdom Coal Gasification Market by Feedstock Type
10.2.6.4.2 United Kingdom Coal Gasification Market by Application
10.2.6.4.3 United Kingdom Coal Gasification Market by Gasifier
10.2.6.5 Russia Coal Gasification Market
10.2.6.5.1 Russia Coal Gasification Market by Feedstock Type
10.2.6.5.2 Russia Coal Gasification Market by Application
10.2.6.5.3 Russia Coal Gasification Market by Gasifier
10.2.6.6 Rest of Europe Coal Gasification Market
10.2.6.6.1 Rest of Europe Coal Gasification Market by Feedstock Type
10.2.6.6.2 Rest of Europe Coal Gasification Market by Application
10.2.6.6.3 Rest of Europe Coal Gasification Market by Gasifier
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Coal Gasification Market Overview
10.3.2 Asia-Pacific Coal Gasification Market Forecasts and Analysis
10.3.3 Asia-Pacific Coal Gasification Market Forecasts and Analysis - By Feedstock Type
10.3.4 Asia-Pacific Coal Gasification Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Coal Gasification Market Forecasts and Analysis - By Gasifier
10.3.6 Asia-Pacific Coal Gasification Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Coal Gasification Market
10.3.6.1.1 Australia Coal Gasification Market by Feedstock Type
10.3.6.1.2 Australia Coal Gasification Market by Application
10.3.6.1.3 Australia Coal Gasification Market by Gasifier
10.3.6.2 China Coal Gasification Market
10.3.6.2.1 China Coal Gasification Market by Feedstock Type
10.3.6.2.2 China Coal Gasification Market by Application
10.3.6.2.3 China Coal Gasification Market by Gasifier
10.3.6.3 India Coal Gasification Market
10.3.6.3.1 India Coal Gasification Market by Feedstock Type
10.3.6.3.2 India Coal Gasification Market by Application
10.3.6.3.3 India Coal Gasification Market by Gasifier
10.3.6.4 Japan Coal Gasification Market
10.3.6.4.1 Japan Coal Gasification Market by Feedstock Type
10.3.6.4.2 Japan Coal Gasification Market by Application
10.3.6.4.3 Japan Coal Gasification Market by Gasifier
10.3.6.5 South Korea Coal Gasification Market
10.3.6.5.1 South Korea Coal Gasification Market by Feedstock Type
10.3.6.5.2 South Korea Coal Gasification Market by Application
10.3.6.5.3 South Korea Coal Gasification Market by Gasifier
10.3.6.6 Rest of Asia-Pacific Coal Gasification Market
10.3.6.6.1 Rest of Asia-Pacific Coal Gasification Market by Feedstock Type
10.3.6.6.2 Rest of Asia-Pacific Coal Gasification Market by Application
10.3.6.6.3 Rest of Asia-Pacific Coal Gasification Market by Gasifier
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Coal Gasification Market Overview
10.4.2 Middle East and Africa Coal Gasification Market Forecasts and Analysis
10.4.3 Middle East and Africa Coal Gasification Market Forecasts and Analysis - By Feedstock Type
10.4.4 Middle East and Africa Coal Gasification Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Coal Gasification Market Forecasts and Analysis - By Gasifier
10.4.6 Middle East and Africa Coal Gasification Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Coal Gasification Market
10.4.6.1.1 South Africa Coal Gasification Market by Feedstock Type
10.4.6.1.2 South Africa Coal Gasification Market by Application
10.4.6.1.3 South Africa Coal Gasification Market by Gasifier
10.4.6.2 Saudi Arabia Coal Gasification Market
10.4.6.2.1 Saudi Arabia Coal Gasification Market by Feedstock Type
10.4.6.2.2 Saudi Arabia Coal Gasification Market by Application
10.4.6.2.3 Saudi Arabia Coal Gasification Market by Gasifier
10.4.6.3 U.A.E Coal Gasification Market
10.4.6.3.1 U.A.E Coal Gasification Market by Feedstock Type
10.4.6.3.2 U.A.E Coal Gasification Market by Application
10.4.6.3.3 U.A.E Coal Gasification Market by Gasifier
10.4.6.4 Rest of Middle East and Africa Coal Gasification Market
10.4.6.4.1 Rest of Middle East and Africa Coal Gasification Market by Feedstock Type
10.4.6.4.2 Rest of Middle East and Africa Coal Gasification Market by Application
10.4.6.4.3 Rest of Middle East and Africa Coal Gasification Market by Gasifier
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Coal Gasification Market Overview
10.5.2 South and Central America Coal Gasification Market Forecasts and Analysis
10.5.3 South and Central America Coal Gasification Market Forecasts and Analysis - By Feedstock Type
10.5.4 South and Central America Coal Gasification Market Forecasts and Analysis - By Application
10.5.5 South and Central America Coal Gasification Market Forecasts and Analysis - By Gasifier
10.5.6 South and Central America Coal Gasification Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Coal Gasification Market
10.5.6.1.1 Brazil Coal Gasification Market by Feedstock Type
10.5.6.1.2 Brazil Coal Gasification Market by Application
10.5.6.1.3 Brazil Coal Gasification Market by Gasifier
10.5.6.2 Argentina Coal Gasification Market
10.5.6.2.1 Argentina Coal Gasification Market by Feedstock Type
10.5.6.2.2 Argentina Coal Gasification Market by Application
10.5.6.2.3 Argentina Coal Gasification Market by Gasifier
10.5.6.3 Rest of South and Central America Coal Gasification Market
10.5.6.3.1 Rest of South and Central America Coal Gasification Market by Feedstock Type
10.5.6.3.2 Rest of South and Central America Coal Gasification Market by Application
10.5.6.3.3 Rest of South and Central America Coal Gasification Market by Gasifier
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. COAL GASIFICATION MARKET, KEY COMPANY PROFILES
12.1. AIR LIQUIDE
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. DAKOTA GASIFICATION COMPANY
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. GENERAL ELECTRIC COMPANY
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. KBR, INC.
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. MITSUBISHI HEAVY INDUSTRIES, LTD.
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. MCDERMOTT INTERNATIONAL, INC
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. PETROCHEMICAL CORPORATION OF SINGAPORE (PRIVATE) LIMITED
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. ROYAL DUTCH SHELL PLC
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. SEDIN ENGINEERING
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. THYSSENKRUPP 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
1.Air Liquide
2.Dakota Gasification Company
3.General Electric Company
4.KBR, Inc.
5.Mitsubishi Heavy Industries, Ltd.
6.McDermott International, Inc
7.Petrochemical Corporation of Singapore (Private) Limited
8.Royal Dutch Shell Plc
9.Sedin Engineering
10.ThyssenKrupp 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.
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