Commercial Vehicle Tire Market Dynamics 2021-2031
The Commercial Vehicle Tire Market is expected to register a CAGR of 5.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Commercial Vehicle Tire Market covers analysis By Tire Type (Radial and Bias), By Vehicle Weight (Less than 3.5 tons, Between 3.5 and 16 tons, Greater than 16 tons); Application (Construction, Mining, Agriculture, Transport, Others); Vehicle type (On-road Vehicle, Off-road Vehicle) , and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Purpose of the ReportThe report Commercial Vehicle Tire 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.
Commercial Vehicle Tire Market Segmentation
Tire Type- Radial and Bias
- Less than 3.5 tons
- Between 3.5 and 16 tons
- Greater than 16 tons;
- Construction
- Mining
- Agriculture
- Transport
- Others;
- On-road Vehicle
- Off-road Vehicle
- On-road Vehicle
- Off-road Vehicle
Strategic Insights
Commercial Vehicle Tire Market Growth Drivers- Growing E-commerce and Logistics Requirement: The booming e-commerce industry has led to a significant increase in demand for commercial vehicles, especially delivery trucks and vans. Because more goods are shipped directly to consumers, the need for efficient transportation fleets expands, thereby directly driving demand for commercial vehicle tires. Growth in the logistics sector also increases demand for long-haul trucking and freight transportation, which requires durable, high-performance tires.
- Fuel efficiency and cost-effectiveness: Commercial vehicle operators are increasingly looking at ways to reduce their operational costs, and the tires play a very important role in this regard. Low rolling resistance tires can help in improving fuel efficiency, reducing fuel consumption, and subsequently carbon emissions. With rising fuel costs, fleet owners are looking for tires that provide improved durability, longer life, and better fuel economy, which makes fuel-efficient tire technologies a major market driver.
- Standards for Regulation and Safety: Stricter governmental regulations on safety, emission, and fuel efficiency drive fleet operators to invest in better quality and compliant tires. Safety standards requiring features such as tire pressure monitoring systems, regular tire inspections, and the environmental regulations that encourage using low rolling resistance tires contribute to demand for innovative high-performance tires that meet all these regulatory requirements.
- Increasing demand for electric vehicles: The increasing demand for electric vehicles for transportation sector is driving the market trend. The rise of electric commercial vehicles is influencing the tire market. As more companies adopt electric fleets, there is a corresponding demand for specialized tires that cater to the unique requirements of electric vehicles, such as lower rolling resistance and enhanced durability.
- Growth of Electric Commercial Vehicles: The emerging segment in the tire market is the electric commercial vehicle. As electronic fleet development becomes a norm, the need for specialized tires that fulfill the unique needs of an electric vehicle, such as low rolling resistance and long durability, also increases significantly in the market.
- Rising integration of the advanced technologies: Rising integration of the advanced technologies such as tire pressure monitoring sensors, and other IoT based solutions is expected to create ample opportunity for the market growth. Technological advancements: Technological innovation in tire technology, including the development of materials and manufacturing processes, is another strong driver. These developments enhance performance characteristics such as fuel economy, lifespan, and safety, which make newer tires more appealing to end-users.
- Incresing demand for the retreaded tires : The growth in consciousness about cost-effective, 'green practices' has raised the demand level for retreaded tires. It gives the companies a chance to offer value-for-money solutions to customers who are budget conscious yet continue to support environmental benefit through the reuse of materials.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Commercial Vehicle Tire 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 Commercial Vehicle Tire 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 Commercial Vehicle Tire Market is estimated to witness a CAGR of 5.5% from 2023 to 2031
The major factors driving the commercial vehicle tire market are: Growing E-commerce and Logistics Requirement, Fuel efficiency and cost-effectiveness, and Standards for Regulation and Safety
High manufacturing cost of tires hinders the market growth.
The major players in the market includes Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Continental AG, The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd., Pirelli & C. S.p.A, Hankook Tire & Technology, Kumho Tire, Sumitomo Rubber Industries, Ltd., Zhongce Rubber Group Co. Ltd., CEAT Limited, MRF Tyres, JK Tyre & Industries, Apollo Tyres Limited, Others
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Commercial Vehicle Tire Market - By Vehicle Weight
1.3.2 Commercial Vehicle Tire Market - By Application
1.3.3 Commercial Vehicle Tire Market - By Terrain type
1.3.4 Commercial Vehicle Tire Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. COMMERCIAL VEHICLE TIRE 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. COMMERCIAL VEHICLE TIRE 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. COMMERCIAL VEHICLE TIRE MARKET - GLOBAL MARKET ANALYSIS
6.1. COMMERCIAL VEHICLE TIRE - GLOBAL MARKET OVERVIEW
6.2. COMMERCIAL VEHICLE TIRE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. COMMERCIAL VEHICLE TIRE MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE WEIGHT
7.1. OVERVIEW
7.2. VEHICLE WEIGHT MARKET FORECASTS AND ANALYSIS
7.3. LESS THAN 3.5 TONS
7.3.1. Overview
7.3.2. Less than 3.5 tons Market Forecast and Analysis
7.4. BETWEEN 3.5 AND 16 TONS
7.4.1. Overview
7.4.2. Between 3.5 and 16 tons Market Forecast and Analysis
7.5. GREATER THAN 16 TONS
7.5.1. Overview
7.5.2. Greater than 16 tons Market Forecast and Analysis
8. COMMERCIAL VEHICLE TIRE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CONSTRUCTION
8.3.1. Overview
8.3.2. Construction Market Forecast and Analysis
8.4. MINING
8.4.1. Overview
8.4.2. Mining Market Forecast and Analysis
8.5. AGRICULTURE
8.5.1. Overview
8.5.2. Agriculture Market Forecast and Analysis
8.6. TRANSPORT
8.6.1. Overview
8.6.2. Transport Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. COMMERCIAL VEHICLE TIRE MARKET - REVENUE AND FORECASTS TO 2028 - TERRAIN TYPE
9.1. OVERVIEW
9.2. TERRAIN TYPE MARKET FORECASTS AND ANALYSIS
9.3. ON-ROAD
9.3.1. Overview
9.3.2. On-road Market Forecast and Analysis
9.4. OFF-ROAD
9.4.1. Overview
9.4.2. Off-road Market Forecast and Analysis
10. COMMERCIAL VEHICLE TIRE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Commercial Vehicle Tire Market Overview
10.1.2 North America Commercial Vehicle Tire Market Forecasts and Analysis
10.1.3 North America Commercial Vehicle Tire Market Forecasts and Analysis - By Vehicle Weight
10.1.4 North America Commercial Vehicle Tire Market Forecasts and Analysis - By Application
10.1.5 North America Commercial Vehicle Tire Market Forecasts and Analysis - By Terrain type
10.1.6 North America Commercial Vehicle Tire Market Forecasts and Analysis - By Countries
10.1.6.1 United States Commercial Vehicle Tire Market
10.1.6.1.1 United States Commercial Vehicle Tire Market by Vehicle Weight
10.1.6.1.2 United States Commercial Vehicle Tire Market by Application
10.1.6.1.3 United States Commercial Vehicle Tire Market by Terrain type
10.1.6.2 Canada Commercial Vehicle Tire Market
10.1.6.2.1 Canada Commercial Vehicle Tire Market by Vehicle Weight
10.1.6.2.2 Canada Commercial Vehicle Tire Market by Application
10.1.6.2.3 Canada Commercial Vehicle Tire Market by Terrain type
10.1.6.3 Mexico Commercial Vehicle Tire Market
10.1.6.3.1 Mexico Commercial Vehicle Tire Market by Vehicle Weight
10.1.6.3.2 Mexico Commercial Vehicle Tire Market by Application
10.1.6.3.3 Mexico Commercial Vehicle Tire Market by Terrain type
10.2. EUROPE
10.2.1 Europe Commercial Vehicle Tire Market Overview
10.2.2 Europe Commercial Vehicle Tire Market Forecasts and Analysis
10.2.3 Europe Commercial Vehicle Tire Market Forecasts and Analysis - By Vehicle Weight
10.2.4 Europe Commercial Vehicle Tire Market Forecasts and Analysis - By Application
10.2.5 Europe Commercial Vehicle Tire Market Forecasts and Analysis - By Terrain type
10.2.6 Europe Commercial Vehicle Tire Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Commercial Vehicle Tire Market
10.2.6.1.1 Germany Commercial Vehicle Tire Market by Vehicle Weight
10.2.6.1.2 Germany Commercial Vehicle Tire Market by Application
10.2.6.1.3 Germany Commercial Vehicle Tire Market by Terrain type
10.2.6.2 France Commercial Vehicle Tire Market
10.2.6.2.1 France Commercial Vehicle Tire Market by Vehicle Weight
10.2.6.2.2 France Commercial Vehicle Tire Market by Application
10.2.6.2.3 France Commercial Vehicle Tire Market by Terrain type
10.2.6.3 Italy Commercial Vehicle Tire Market
10.2.6.3.1 Italy Commercial Vehicle Tire Market by Vehicle Weight
10.2.6.3.2 Italy Commercial Vehicle Tire Market by Application
10.2.6.3.3 Italy Commercial Vehicle Tire Market by Terrain type
10.2.6.4 United Kingdom Commercial Vehicle Tire Market
10.2.6.4.1 United Kingdom Commercial Vehicle Tire Market by Vehicle Weight
10.2.6.4.2 United Kingdom Commercial Vehicle Tire Market by Application
10.2.6.4.3 United Kingdom Commercial Vehicle Tire Market by Terrain type
10.2.6.5 Russia Commercial Vehicle Tire Market
10.2.6.5.1 Russia Commercial Vehicle Tire Market by Vehicle Weight
10.2.6.5.2 Russia Commercial Vehicle Tire Market by Application
10.2.6.5.3 Russia Commercial Vehicle Tire Market by Terrain type
10.2.6.6 Rest of Europe Commercial Vehicle Tire Market
10.2.6.6.1 Rest of Europe Commercial Vehicle Tire Market by Vehicle Weight
10.2.6.6.2 Rest of Europe Commercial Vehicle Tire Market by Application
10.2.6.6.3 Rest of Europe Commercial Vehicle Tire Market by Terrain type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Commercial Vehicle Tire Market Overview
10.3.2 Asia-Pacific Commercial Vehicle Tire Market Forecasts and Analysis
10.3.3 Asia-Pacific Commercial Vehicle Tire Market Forecasts and Analysis - By Vehicle Weight
10.3.4 Asia-Pacific Commercial Vehicle Tire Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Commercial Vehicle Tire Market Forecasts and Analysis - By Terrain type
10.3.6 Asia-Pacific Commercial Vehicle Tire Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Commercial Vehicle Tire Market
10.3.6.1.1 Australia Commercial Vehicle Tire Market by Vehicle Weight
10.3.6.1.2 Australia Commercial Vehicle Tire Market by Application
10.3.6.1.3 Australia Commercial Vehicle Tire Market by Terrain type
10.3.6.2 China Commercial Vehicle Tire Market
10.3.6.2.1 China Commercial Vehicle Tire Market by Vehicle Weight
10.3.6.2.2 China Commercial Vehicle Tire Market by Application
10.3.6.2.3 China Commercial Vehicle Tire Market by Terrain type
10.3.6.3 India Commercial Vehicle Tire Market
10.3.6.3.1 India Commercial Vehicle Tire Market by Vehicle Weight
10.3.6.3.2 India Commercial Vehicle Tire Market by Application
10.3.6.3.3 India Commercial Vehicle Tire Market by Terrain type
10.3.6.4 Japan Commercial Vehicle Tire Market
10.3.6.4.1 Japan Commercial Vehicle Tire Market by Vehicle Weight
10.3.6.4.2 Japan Commercial Vehicle Tire Market by Application
10.3.6.4.3 Japan Commercial Vehicle Tire Market by Terrain type
10.3.6.5 South Korea Commercial Vehicle Tire Market
10.3.6.5.1 South Korea Commercial Vehicle Tire Market by Vehicle Weight
10.3.6.5.2 South Korea Commercial Vehicle Tire Market by Application
10.3.6.5.3 South Korea Commercial Vehicle Tire Market by Terrain type
10.3.6.6 Rest of Asia-Pacific Commercial Vehicle Tire Market
10.3.6.6.1 Rest of Asia-Pacific Commercial Vehicle Tire Market by Vehicle Weight
10.3.6.6.2 Rest of Asia-Pacific Commercial Vehicle Tire Market by Application
10.3.6.6.3 Rest of Asia-Pacific Commercial Vehicle Tire Market by Terrain type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Commercial Vehicle Tire Market Overview
10.4.2 Middle East and Africa Commercial Vehicle Tire Market Forecasts and Analysis
10.4.3 Middle East and Africa Commercial Vehicle Tire Market Forecasts and Analysis - By Vehicle Weight
10.4.4 Middle East and Africa Commercial Vehicle Tire Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Commercial Vehicle Tire Market Forecasts and Analysis - By Terrain type
10.4.6 Middle East and Africa Commercial Vehicle Tire Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Commercial Vehicle Tire Market
10.4.6.1.1 South Africa Commercial Vehicle Tire Market by Vehicle Weight
10.4.6.1.2 South Africa Commercial Vehicle Tire Market by Application
10.4.6.1.3 South Africa Commercial Vehicle Tire Market by Terrain type
10.4.6.2 Saudi Arabia Commercial Vehicle Tire Market
10.4.6.2.1 Saudi Arabia Commercial Vehicle Tire Market by Vehicle Weight
10.4.6.2.2 Saudi Arabia Commercial Vehicle Tire Market by Application
10.4.6.2.3 Saudi Arabia Commercial Vehicle Tire Market by Terrain type
10.4.6.3 U.A.E Commercial Vehicle Tire Market
10.4.6.3.1 U.A.E Commercial Vehicle Tire Market by Vehicle Weight
10.4.6.3.2 U.A.E Commercial Vehicle Tire Market by Application
10.4.6.3.3 U.A.E Commercial Vehicle Tire Market by Terrain type
10.4.6.4 Rest of Middle East and Africa Commercial Vehicle Tire Market
10.4.6.4.1 Rest of Middle East and Africa Commercial Vehicle Tire Market by Vehicle Weight
10.4.6.4.2 Rest of Middle East and Africa Commercial Vehicle Tire Market by Application
10.4.6.4.3 Rest of Middle East and Africa Commercial Vehicle Tire Market by Terrain type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Commercial Vehicle Tire Market Overview
10.5.2 South and Central America Commercial Vehicle Tire Market Forecasts and Analysis
10.5.3 South and Central America Commercial Vehicle Tire Market Forecasts and Analysis - By Vehicle Weight
10.5.4 South and Central America Commercial Vehicle Tire Market Forecasts and Analysis - By Application
10.5.5 South and Central America Commercial Vehicle Tire Market Forecasts and Analysis - By Terrain type
10.5.6 South and Central America Commercial Vehicle Tire Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Commercial Vehicle Tire Market
10.5.6.1.1 Brazil Commercial Vehicle Tire Market by Vehicle Weight
10.5.6.1.2 Brazil Commercial Vehicle Tire Market by Application
10.5.6.1.3 Brazil Commercial Vehicle Tire Market by Terrain type
10.5.6.2 Argentina Commercial Vehicle Tire Market
10.5.6.2.1 Argentina Commercial Vehicle Tire Market by Vehicle Weight
10.5.6.2.2 Argentina Commercial Vehicle Tire Market by Application
10.5.6.2.3 Argentina Commercial Vehicle Tire Market by Terrain type
10.5.6.3 Rest of South and Central America Commercial Vehicle Tire Market
10.5.6.3.1 Rest of South and Central America Commercial Vehicle Tire Market by Vehicle Weight
10.5.6.3.2 Rest of South and Central America Commercial Vehicle Tire Market by Application
10.5.6.3.3 Rest of South and Central America Commercial Vehicle Tire Market by Terrain 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. COMMERCIAL VEHICLE TIRE MARKET, KEY COMPANY PROFILES
12.1. ATG TIRES PRIVATE LIMITED
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. BALKRISHNA INDUSTRIES LIMITED
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. BRIDGESTONE 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. CONTINENTAL AG
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. GOODYEAR TYRE AND RUBBER COMPANY
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. HANKOOK TIRE AND TECHNOLOGY 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. MCLAREN INDUSTRIES
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. SUMITOMO 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. THE MICHELIN GROUP
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. TRELLEBORG CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. ATG Tires Private Limited
2. Balkrishna Industries Limited
3. Bridgestone Corporation
4. Continental AG
5. Goodyear Tyre and Rubber Company
6. Hankook Tire and Technology Group
7. McLaren Industries
8. Sumitomo Corporation
9. The Michelin Group
10. Trelleborg Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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