Electric Light Commercial Vehicle Market [2021-2031] - Size and Share
The Electric Light Commercial Vehicle Market is expected to register a CAGR of 22.5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Electric Light Commercial Vehicle Market covers analysis By Type (Battery Electric Vehicles, Hybrid Electric Vehicles, Fuel Cell Electric Vehicle (FCEV)); Vehicle Type (Three Wheeler, Four Wheeler); Power Output (Less Than 100 Kw, 101-250 Kw)
Purpose of the ReportThe report Electric Light Commercial Vehicle 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.
Electric Light Commercial Vehicle Market Segmentation
Type- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Fuel Cell Electric Vehicle
- Three Wheeler
- Four Wheeler
- Less Than 100 Kw
- 101-250 Kw
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Electric Light Commercial Vehicle Market Growth Drivers- Favourable Government Policies and Subsidies: Favourable government policies and subsidies iscreating ample opportunity for the the electric light commercial vehicle market growth. The market has seen a spur through more government policies across the world. They are creating taxing-free and regulation schemes, which force the businesses to use electric fleets in order to change toward more sustainable and greener environments.
- Increasing Focus on Sustainability: There is now increased consumer and corporate demand for greener products. There is a competitive drive to reduce carbon footprints that can be highly well catered to by electric LCVs, which provide zero-emission alternatives to diesel vehicles, providing the impetus to innovate and expand electric vehicle offerings from manufacturers.Most countries are enforcing policies, incentives, and subsidies that favor the adoption of eLCVs. Countries are offering tax exemptions, grants, and perhaps very tight regulations on emissions to pursue the shift to electric LCVs.
- Proliferation of Advancement in Battery Technologies: Advanced technology development related to increased energy density and decreasing costs increase access and efficiency for electric light commercial vehicles. The rising development in the vehicle battery technology is anticipated to drive the growth of the electric light commercial vehicles market. Improved battery technology makes the electric light commercial vehicles more accissible which is acting as a major driver for the market.
- Growing Proliferation of Light Trucks: There is a prominent trend in the electric light commercial vehicle market in which close to 80% of this market share is dominated by light trucks. In the report, it is called a trend because of how these vehicles combine sustainability and efficiency, an attractive feature for businesses looking to modernize their fleet. The growing sales of light trucks in order to cater the growing demand from construction sites and industries are fueling the development of the electric light commercial vehicles market
- Growing Integration of Advanced Technologies: The electric light commercial vehicles market is moving at a very fast rate in terms of technological advancements, especially in battery technology and infrastructure for charging. Such improvements will increase the performance as well as the mileage range of the electric LCVs, attracting business that depends on commercial transport. Smart technologies and telematics integration in eLCVs provide fleet management solutions, tracking real-time activities, to improve productivity is fueling the market growth. Data analytics is available to help optimize routes and decrease operational costs which is also having a positive impact on the market.
- Rapid Scaling of the Charging Infrastructure: Clearly, one thing to exploit for the scaling of electric charging infrastructure would be the market demand from electric LCVs. Furthering the take-up of electric vehicles and facilitating fleet operators moving into an electric product solution can be achieved by installing more chargers, both in urban locations but also along major transport networks. Growing government emphasis on charging infrastruture is one of the major steps towards boosting the adoption of electric vehicles which is also having a positive impact on the market.
- Rising of New Business Models Using Electric Commercial Vehicles: The electric LCV unlocks a completely new business opportunity, namely-vehicle-as-a-service and fleet management solutions. Companies can exploit these business models to offer flexible, cost-effective business options for integrating electric vehicles into their operations without tying up costs in owning them. E-commerce growth has brought attention to electric light commercial vehicles' last mile delivery solutions. Businesses are investing in electric LCVs to meet fast, eco-friendly delivery needs within urban areas.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electric Light Commercial Vehicle 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 Electric Light Commercial Vehicle 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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- 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
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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
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.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The major players in the market includes BYD Auto Co Ltd, Ford Motor Company, PIAGGIO VEHICLES PRIVATE LIMITED, Daimler AG, The Hyundai Motor Company, Groupe Renault, Groupe PSA, Volkswagen AG, Mahindra Electric Mobility Limited, and Others
The Electric Light Commercial Vehicle Market is estimated to witness a CAGR of 22.5% from 2023 to 2031
The high manufacturing cost for the electric commercial vehicles hinders the market growth.
The major factors driving the Electric Light Commercial Vehicle Market are: Increasing sale of the electric vehicles with rapid growth of the e-commerce sector drives 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 Electric Light Commercial Vehicle Market - By Type
1.3.2 Electric Light Commercial Vehicle Market - By Vehicle Type
1.3.3 Electric Light Commercial Vehicle Market - By Power Output
1.3.4 Electric Light Commercial Vehicle Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. ELECTRIC LIGHT COMMERCIAL VEHICLE 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. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC LIGHT COMMERCIAL VEHICLE - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC LIGHT COMMERCIAL VEHICLE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. BATTERY ELECTRIC VEHICLES
7.3.1. Overview
7.3.2. Battery Electric Vehicles Market Forecast and Analysis
7.4. HYBRID ELECTRIC VEHICLES
7.4.1. Overview
7.4.2. Hybrid Electric Vehicles Market Forecast and Analysis
7.5. FUEL CELL ELECTRIC VEHICLE (FCEV)
7.5.1. Overview
7.5.2. Fuel Cell Electric Vehicle (FCEV) Market Forecast and Analysis
8. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
8.1. OVERVIEW
8.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3. THREE WHEELER
8.3.1. Overview
8.3.2. Three Wheeler Market Forecast and Analysis
8.4. FOUR WHEELER
8.4.1. Overview
8.4.2. Four Wheeler Market Forecast and Analysis
9. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - POWER OUTPUT
9.1. OVERVIEW
9.2. POWER OUTPUT MARKET FORECASTS AND ANALYSIS
9.3. LESS THAN 100 KW
9.3.1. Overview
9.3.2. Less Than 100 Kw Market Forecast and Analysis
9.4. 101-250 KW
9.4.1. Overview
9.4.2. 101-250 Kw Market Forecast and Analysis
10. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electric Light Commercial Vehicle Market Overview
10.1.2 North America Electric Light Commercial Vehicle Market Forecasts and Analysis
10.1.3 North America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Type
10.1.4 North America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.1.5 North America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Power Output
10.1.6 North America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electric Light Commercial Vehicle Market
10.1.6.1.1 United States Electric Light Commercial Vehicle Market by Type
10.1.6.1.2 United States Electric Light Commercial Vehicle Market by Vehicle Type
10.1.6.1.3 United States Electric Light Commercial Vehicle Market by Power Output
10.1.6.2 Canada Electric Light Commercial Vehicle Market
10.1.6.2.1 Canada Electric Light Commercial Vehicle Market by Type
10.1.6.2.2 Canada Electric Light Commercial Vehicle Market by Vehicle Type
10.1.6.2.3 Canada Electric Light Commercial Vehicle Market by Power Output
10.1.6.3 Mexico Electric Light Commercial Vehicle Market
10.1.6.3.1 Mexico Electric Light Commercial Vehicle Market by Type
10.1.6.3.2 Mexico Electric Light Commercial Vehicle Market by Vehicle Type
10.1.6.3.3 Mexico Electric Light Commercial Vehicle Market by Power Output
10.2. EUROPE
10.2.1 Europe Electric Light Commercial Vehicle Market Overview
10.2.2 Europe Electric Light Commercial Vehicle Market Forecasts and Analysis
10.2.3 Europe Electric Light Commercial Vehicle Market Forecasts and Analysis - By Type
10.2.4 Europe Electric Light Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.2.5 Europe Electric Light Commercial Vehicle Market Forecasts and Analysis - By Power Output
10.2.6 Europe Electric Light Commercial Vehicle Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electric Light Commercial Vehicle Market
10.2.6.1.1 Germany Electric Light Commercial Vehicle Market by Type
10.2.6.1.2 Germany Electric Light Commercial Vehicle Market by Vehicle Type
10.2.6.1.3 Germany Electric Light Commercial Vehicle Market by Power Output
10.2.6.2 France Electric Light Commercial Vehicle Market
10.2.6.2.1 France Electric Light Commercial Vehicle Market by Type
10.2.6.2.2 France Electric Light Commercial Vehicle Market by Vehicle Type
10.2.6.2.3 France Electric Light Commercial Vehicle Market by Power Output
10.2.6.3 Italy Electric Light Commercial Vehicle Market
10.2.6.3.1 Italy Electric Light Commercial Vehicle Market by Type
10.2.6.3.2 Italy Electric Light Commercial Vehicle Market by Vehicle Type
10.2.6.3.3 Italy Electric Light Commercial Vehicle Market by Power Output
10.2.6.4 United Kingdom Electric Light Commercial Vehicle Market
10.2.6.4.1 United Kingdom Electric Light Commercial Vehicle Market by Type
10.2.6.4.2 United Kingdom Electric Light Commercial Vehicle Market by Vehicle Type
10.2.6.4.3 United Kingdom Electric Light Commercial Vehicle Market by Power Output
10.2.6.5 Russia Electric Light Commercial Vehicle Market
10.2.6.5.1 Russia Electric Light Commercial Vehicle Market by Type
10.2.6.5.2 Russia Electric Light Commercial Vehicle Market by Vehicle Type
10.2.6.5.3 Russia Electric Light Commercial Vehicle Market by Power Output
10.2.6.6 Rest of Europe Electric Light Commercial Vehicle Market
10.2.6.6.1 Rest of Europe Electric Light Commercial Vehicle Market by Type
10.2.6.6.2 Rest of Europe Electric Light Commercial Vehicle Market by Vehicle Type
10.2.6.6.3 Rest of Europe Electric Light Commercial Vehicle Market by Power Output
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electric Light Commercial Vehicle Market Overview
10.3.2 Asia-Pacific Electric Light Commercial Vehicle Market Forecasts and Analysis
10.3.3 Asia-Pacific Electric Light Commercial Vehicle Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Electric Light Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.3.5 Asia-Pacific Electric Light Commercial Vehicle Market Forecasts and Analysis - By Power Output
10.3.6 Asia-Pacific Electric Light Commercial Vehicle Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electric Light Commercial Vehicle Market
10.3.6.1.1 Australia Electric Light Commercial Vehicle Market by Type
10.3.6.1.2 Australia Electric Light Commercial Vehicle Market by Vehicle Type
10.3.6.1.3 Australia Electric Light Commercial Vehicle Market by Power Output
10.3.6.2 China Electric Light Commercial Vehicle Market
10.3.6.2.1 China Electric Light Commercial Vehicle Market by Type
10.3.6.2.2 China Electric Light Commercial Vehicle Market by Vehicle Type
10.3.6.2.3 China Electric Light Commercial Vehicle Market by Power Output
10.3.6.3 India Electric Light Commercial Vehicle Market
10.3.6.3.1 India Electric Light Commercial Vehicle Market by Type
10.3.6.3.2 India Electric Light Commercial Vehicle Market by Vehicle Type
10.3.6.3.3 India Electric Light Commercial Vehicle Market by Power Output
10.3.6.4 Japan Electric Light Commercial Vehicle Market
10.3.6.4.1 Japan Electric Light Commercial Vehicle Market by Type
10.3.6.4.2 Japan Electric Light Commercial Vehicle Market by Vehicle Type
10.3.6.4.3 Japan Electric Light Commercial Vehicle Market by Power Output
10.3.6.5 South Korea Electric Light Commercial Vehicle Market
10.3.6.5.1 South Korea Electric Light Commercial Vehicle Market by Type
10.3.6.5.2 South Korea Electric Light Commercial Vehicle Market by Vehicle Type
10.3.6.5.3 South Korea Electric Light Commercial Vehicle Market by Power Output
10.3.6.6 Rest of Asia-Pacific Electric Light Commercial Vehicle Market
10.3.6.6.1 Rest of Asia-Pacific Electric Light Commercial Vehicle Market by Type
10.3.6.6.2 Rest of Asia-Pacific Electric Light Commercial Vehicle Market by Vehicle Type
10.3.6.6.3 Rest of Asia-Pacific Electric Light Commercial Vehicle Market by Power Output
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electric Light Commercial Vehicle Market Overview
10.4.2 Middle East and Africa Electric Light Commercial Vehicle Market Forecasts and Analysis
10.4.3 Middle East and Africa Electric Light Commercial Vehicle Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Electric Light Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.4.5 Middle East and Africa Electric Light Commercial Vehicle Market Forecasts and Analysis - By Power Output
10.4.6 Middle East and Africa Electric Light Commercial Vehicle Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electric Light Commercial Vehicle Market
10.4.6.1.1 South Africa Electric Light Commercial Vehicle Market by Type
10.4.6.1.2 South Africa Electric Light Commercial Vehicle Market by Vehicle Type
10.4.6.1.3 South Africa Electric Light Commercial Vehicle Market by Power Output
10.4.6.2 Saudi Arabia Electric Light Commercial Vehicle Market
10.4.6.2.1 Saudi Arabia Electric Light Commercial Vehicle Market by Type
10.4.6.2.2 Saudi Arabia Electric Light Commercial Vehicle Market by Vehicle Type
10.4.6.2.3 Saudi Arabia Electric Light Commercial Vehicle Market by Power Output
10.4.6.3 U.A.E Electric Light Commercial Vehicle Market
10.4.6.3.1 U.A.E Electric Light Commercial Vehicle Market by Type
10.4.6.3.2 U.A.E Electric Light Commercial Vehicle Market by Vehicle Type
10.4.6.3.3 U.A.E Electric Light Commercial Vehicle Market by Power Output
10.4.6.4 Rest of Middle East and Africa Electric Light Commercial Vehicle Market
10.4.6.4.1 Rest of Middle East and Africa Electric Light Commercial Vehicle Market by Type
10.4.6.4.2 Rest of Middle East and Africa Electric Light Commercial Vehicle Market by Vehicle Type
10.4.6.4.3 Rest of Middle East and Africa Electric Light Commercial Vehicle Market by Power Output
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electric Light Commercial Vehicle Market Overview
10.5.2 South and Central America Electric Light Commercial Vehicle Market Forecasts and Analysis
10.5.3 South and Central America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Type
10.5.4 South and Central America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.5.5 South and Central America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Power Output
10.5.6 South and Central America Electric Light Commercial Vehicle Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electric Light Commercial Vehicle Market
10.5.6.1.1 Brazil Electric Light Commercial Vehicle Market by Type
10.5.6.1.2 Brazil Electric Light Commercial Vehicle Market by Vehicle Type
10.5.6.1.3 Brazil Electric Light Commercial Vehicle Market by Power Output
10.5.6.2 Argentina Electric Light Commercial Vehicle Market
10.5.6.2.1 Argentina Electric Light Commercial Vehicle Market by Type
10.5.6.2.2 Argentina Electric Light Commercial Vehicle Market by Vehicle Type
10.5.6.2.3 Argentina Electric Light Commercial Vehicle Market by Power Output
10.5.6.3 Rest of South and Central America Electric Light Commercial Vehicle Market
10.5.6.3.1 Rest of South and Central America Electric Light Commercial Vehicle Market by Type
10.5.6.3.2 Rest of South and Central America Electric Light Commercial Vehicle Market by Vehicle Type
10.5.6.3.3 Rest of South and Central America Electric Light Commercial Vehicle Market by Power Output
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. ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, KEY COMPANY PROFILES
12.1. BYD AUTO CO., LTD.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. FORD MOTOR 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. PIAGGIO VEHICLES PRIVATE LIMITED
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. DAIMLER 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. THE HYUNDAI MOTOR 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. GROUPE RENAULT
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. GROUPE PSA
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. VOLKSWAGEN AG
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. MAHINDRA ELECTRIC MOBILITY LIMITED
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. TATA MOTORS LIMITED
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. BYD Auto Co., Ltd.
2. Ford Motor Company
3. PIAGGIO VEHICLES PRIVATE LIMITED
4. Daimler AG
5. The Hyundai Motor Company
6. Groupe Renault
7. Groupe PSA
8. Volkswagen AG
9. Mahindra Electric Mobility Limited
10. Tata Motors Limited
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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