Electric Motor Market SWOT and PEST Analysis 2021-2031
The Electric Motor Market is expected to register a CAGR of 9.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Report is Segmented by Type (AC Motor, DC Motor,Hermetic Motor ); Power (Integral HP Output, Fractional HP Output); Voltage (Below 690 V, Between 690 V to 45 kV, Above 45 kV); Application (Industrial Machinery, Motor Vehicles, HVAC Equipment, Aerospace & Transportation, Household Appliances, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the Report
The report Electric Motor 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 Motor Market Segmentation
Type
- AC Motor
- DC Motor
- Hermetic Motor
Power
- Integral HP Output
- Fractional HP Output
Voltage
- Below 690 V
- Between 690 V to 45 kV
- Above 45 kV
Application
- Industrial Machinery
- Motor Vehicles
- HVAC Equipment
- Aerospace & Transportation
- Household Appliances
- Others
Application
- Industrial Machinery
- Motor Vehicles
- HVAC Equipment
- Aerospace & Transportation
- Household Appliances
- Others
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Electric Motor Market: Strategic Insights
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Electric Motor Market Growth Drivers
- Increasing Demand from Numerous Industries:Electric motors are widely employed in a variety of sectors and applications because of their numerous benefits. Electric motors outperform combustion engines in terms of energy conversion rates, reaching up to 98%. This means that they convert nearly all of the energy they absorb into mechanical work.Electric motors emit no emissions, making them eco-friendly.Electric motors have fewer moving components than combustion engines, requiring less maintenance. Thus, the demand for electric motor from numerous industries is expected to grow during the forecast period.
- Efficieny of Electric Motors: Efficiency is one of the most significant advantages of electric motors. Electric motors usually convert more than twice as much electrical energy into mechanical energy, or motion, as traditional internal combustion engines. An electric motor generates torque using electric current and magnetic fields, whereas an ICE motor takes a longer time to combust gasoline and turn the crankshaft. Thus, the demand for electric motors is expected to grow during the forecast period owing to their high efficiency.
Electric Motor Market Future Trends
- Regenerative Braking in Electric Motors:The process of regenerative braking in an electric motor offers various benefits. Regenerative braking recovers kinetic energy wasted as heat while braking and turns it into electrical power to charge the battery. This, in turn, has the potential to increase driving range, resulting in less time spent charging and more time driving. Regenerative braking also slows the car down, which helps regular brakes perform their job. This means less wear and tear, which extends their life and requires fewer replacements.
- Shift Towards Sustainable and Environmentally Friendly Motor Technologies: A prominent trend in the electric motor market is the increasing focus on sustainability and environmentally friendly motor technologies. Manufacturers are developing motors that reduce energy consumption and utilize environmentally conscious materials. For example, there is a growing trend in the adoption of rare-earth-free motors and motors that use sustainable, recyclable materials. As environmental regulations tighten and companies strive to meet sustainability goals, this trend towards greener, more sustainable electric motor technologies will continue to drive innovation and market growth.
Electric Motor Market Opportunities
- Technological Advancements in Motor Efficiency and Performance: There is a significant opportunity for innovation in the electric motor market through advancements in motor efficiency and performance. Technologies like permanent magnet synchronous motors (PMSMs), brushless DC motors (BLDC), and induction motors are becoming more energy-efficient, offering reduced operational costs and improved reliability. Manufacturers have the opportunity to develop next-generation motors that enhance performance, reduce energy consumption, and extend the lifespan of motors, opening up new possibilities in industries such as automotive, industrial automation, and home appliances.
- Growth in Industrial Automation and Robotics: The increasing adoption of industrial automation and robotics presents a strong opportunity for electric motor manufacturers. Electric motors are at the heart of automation systems, driving robots, conveyors, and automated machinery. As industries seek to improve productivity, reduce labor costs, and enhance precision, the demand for electric motors in automation systems is expanding. Manufacturers can capitalize on this trend by designing specialized motors that offer better control, higher torque, and precise movement, making them ideal for use in robotics and other automation applications.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electric Motor 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 Motor 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.
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.
Frequently Asked Questions
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
Regenerative braking in electric motors to play a significant role in the global electric motor market in the coming years
The Electric Motor Market is estimated to witness a CAGR of 9.1% from 2023 to 2031
Increasing demand from numerous industries and efficieny of electric motors are the major factors driving the electric motor market
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- Electric Motor Market - By Motor Type
- Electric Motor Market - By Output Power
- Electric Motor Market - By Voltage
- Electric Motor Market - By Application
- Electric Motor Market - By Region
- By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC MOTOR MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM) - PEST Analysis
5. ELECTRIC MOTOR MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
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6. ELECTRIC MOTOR MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC MOTOR- GLOBAL MARKET OVERVIEW
6.2. ELECTRIC MOTOR- GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. ELECTRIC MOTOR MARKET REVENUE AND FORECASTS TO 2028 -MOTOR TYPE
7.1. OVERVIEW
7.2. MOTOR TYPE MARKET FORECASTS AND ANALYSIS
7.3. AC MOTOR
7.3.1. Overview
7.3.2. AC motor Market Forecast and Analysis
7.3.2.1. Synchronous AC Motors
7.3.2.2. Synchronous AC Motors Market Forecast and Analysis
7.3.2.3. Induction AC Motors
7.3.2.4. Induction AC Motors Market Forecast and Analysis
7.4. DC MOTOR
7.4.1. Overview
7.4.2. DC Motor Market Forecast and Analysis
7.4.2.1. Brushed DC Motors
7.4.2.2. Brushed DC Motors Market Forecast and Analysis
7.4.2.3. Brushless DC Motors
7.4.2.4. Brushless DC Motors Market Forecast and Analysis
8. ELECTRIC MOTOR MARKET REVENUE AND FORECASTS TO 2028 - OUTPUT POWER
8.1. OVERVIEW
8.2. OUTPUT POWER MARKET FORECASTS AND ANALYSIS
8.3. INTEGRAL HORSEPOWER OUTPUT
8.3.1. Overview
8.3.2. Integral Horsepower Output Market Forecast and Analysis
8.4. FRACTIONAL HORSEPOWER OUTPUT
8.4.1. Overview
8.4.2. Fractional Horsepower Output Market Forecast and Analysis
9. ELECTRIC MOTOR MARKET REVENUE AND FORECASTS TO 2028 - VOLTAGE
9.1. OVERVIEW
9.2. VOLTAGE MARKET FORECASTS AND ANALYSIS
9.3. 9V & BELOW
9.3.1. Overview
9.3.2. 9V & Below Market Forecast and Analysis
9.4. 10-20 V
9.4.1. Overview
9.4.2. 10-20 V Market Forecast and Analysis
9.5. 21-60 V
9.5.1. Overview
9.5.2. 21-60 V Market Forecast and Analysis
9.6. 60 V & ABOVE
9.6.1. Overview
9.6.2. 60 V & Above Market Forecast and Analysis
10. ELECTRIC MOTOR MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. INDUSTRIAL MACHINERY
10.3.1. Overview
10.3.2. Industrial Machinery Market Forecast and Analysis
10.4. HVAC EQUIPMENT
10.4.1. Overview
10.4.2. HVAC Equipment Market Forecast and Analysis
10.5. MOTOR VEHICLES
10.5.1. Overview
10.5.2. Motor Vehicles Market Forecast and Analysis
10.6. HOUSEHOLD APPLIANCES
10.6.1. Overview
10.6.2. Household Appliances Market Forecast and Analysis
10.7. AEROSPACE & TRANSPORTATION
10.7.1. Overview
10.7.2. Aerospace & Transportation Market Forecast and Analysis
10.8. OTHERS
10.8.1. Overview
10.8.2. Others Market Forecast and Analysis
11. ELECTRIC MOTOR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1. North America Electric Motor Market Overview
11.1.2. North America Electric Motor Market Forecasts and Analysis
11.1.3. North America Market Forecasts and Analysis - By Motor Type
11.1.4. North America Market Forecasts and Analysis - By Output Power
11.1.5. North America Market Forecasts and Analysis - By Voltage
11.1.6. North America Market Forecasts and Analysis - By Application
11.1.7. North America Market Forecasts and Analysis - By Countries
11.1.7.1. US market
11.1.7.1.1. US Market by Motor Type
11.1.7.1.2. US Market by Output Power
11.1.7.1.3. US Market by Voltage
11.1.7.1.4. US Market by Application
11.1.7.2. Canada market
11.1.7.2.1. Canada Market by Motor Type
11.1.7.2.2. Canada Market by Output Power
11.1.7.2.3. Canada Market by Voltage
11.1.7.2.4. Canada Market by Application
11.1.7.3. Mexico market
11.1.7.3.1. Mexico Market by Motor Type
11.1.7.3.2. Mexico Market by Output Power
11.1.7.3.3. Mexico Market by Voltage
11.1.7.3.4. Mexico Market by Application
11.2. EUROPE
11.2.1. Europe Electric Motor Market Overview
11.2.2. Europe Electric Motor Market Forecasts and Analysis
11.2.3. Europe Market Forecasts and Analysis - By Motor Type
11.2.4. Europe Market Forecasts and Analysis - By Output Power
11.2.5. Europe Market Forecasts and Analysis - By Voltage
11.2.6. Europe Market Forecasts and Analysis - By Application
11.2.7. Europe Market Forecasts and Analysis - By Countries
11.2.7.1. France market
11.2.7.1.1. France Market by Motor Type
11.2.7.1.2. France Market by Output Power
11.2.7.1.3. France Market by Voltage
11.2.7.1.4. France Market by Application
11.2.7.2. Germany market
11.2.7.2.1. Germany Market by Motor Type
11.2.7.2.2. Germany Market by Output Power
11.2.7.2.3. Germany Market by Voltage
11.2.7.2.4. Germany Market by Application
11.2.7.3. Italy market
11.2.7.3.1. Italy Market by Motor Type
11.2.7.3.2. Italy Market by Output Power
11.2.7.3.3. Italy Market by Voltage
11.2.7.3.4. Italy Market by Application
11.2.7.4. Russia market
11.2.7.4.1. Russia Market by Motor Type
11.2.7.4.2. Russia Market by Output Power
11.2.7.4.3. Russia Market by Voltage
11.2.7.4.4. Russia Market by Application
11.2.7.5. UK market
11.2.7.5.1. UK Market by Motor Type
11.2.7.5.2. UK Market by Output Power
11.2.7.5.3. UK Market by Voltage
11.2.7.5.4. UK Market by Application
11.2.7.6. Rest of Europe market
11.2.7.6.1. Rest of Europe Market by Motor Type
11.2.7.6.2. Rest of Europe Market by Output Power
11.2.7.6.3. Rest of Europe Market by Voltage
11.2.7.6.4. Rest of Europe Market by Application
11.3. ASIA PACIFIC (APAC)
11.3.1. Asia Pacific Electric Motor Market Overview
11.3.2. Asia Pacific Electric Motor Market Forecasts and Analysis
11.3.3. Asia Pacific Market Forecasts and Analysis - By Motor Type
11.3.4. Asia Pacific Market Forecasts and Analysis - By Output Power
11.3.5. Asia Pacific Market Forecasts and Analysis - By Voltage
11.3.6. Asia Pacific Market Forecasts and Analysis - By Application
11.3.7. Asia Pacific Market Forecasts and Analysis - By Countries
11.3.7.1. South Korea
11.3.7.1.1. South Korea Market by Motor Type
11.3.7.1.2. South Korea Market by Output Power
11.3.7.1.3. South Korea Market by Voltage
11.3.7.1.4. South Korea Market by Application
11.3.7.2. China market
11.3.7.2.1. China Market by Motor Type
11.3.7.2.2. China Market by Output Power
11.3.7.2.3. China Market by Voltage
11.3.7.2.4. China Market by Application
11.3.7.3. India market
11.3.7.3.1. India Market by Motor Type
11.3.7.3.2. India Market by Output Power
11.3.7.3.3. India Market by Voltage
11.3.7.3.4. India Market by Application
11.3.7.4. Japan market
11.3.7.4.1. Japan Market by Motor Type
11.3.7.4.2. Japan Market by Output Power
11.3.7.4.3. Japan Market by Voltage
11.3.7.4.4. Japan Market by Application
11.3.7.5. Australia market
11.3.7.5.1. Australia Market by Motor Type
11.3.7.5.2. Australia Market by Output Power
11.3.7.5.3. Australia Market by Voltage
11.3.7.5.4. Australia Market by Application
11.3.7.6. Rest of APAC market
11.3.7.6.1. Rest of APAC Market by Motor Type
11.3.7.6.2. Rest of APAC Market by Output Power
11.3.7.6.3. Rest of APAC Market by Voltage
11.3.7.6.4. Rest of APAC Market by Application
11.4. MIDDLE EAST AND AFRICA (MEA)
11.4.1. Middle East and Africa Electric Motor Market Overview
11.4.2. Middle East and Africa Electric Motor Market Forecasts and Analysis
11.4.3. Middle East and Africa Market Forecasts and Analysis - By Motor Type
11.4.4. Middle East and Africa Market Forecasts and Analysis - By Output Power
11.4.5. Middle East and Africa Market Forecasts and Analysis - By Voltage
11.4.6. Middle East and Africa Market Forecasts and Analysis - By Application
11.4.7. Middle East and Africa Market Forecasts and Analysis - By Countries
11.4.7.1. South Africa market
11.4.7.1.1. South Africa Market by Motor Type
11.4.7.1.2. South Africa Market by Output Power
11.4.7.1.3. South Africa Market by Voltage
11.4.7.1.4. South Africa Market by Application
11.4.7.2. Saudi Arabia market
11.4.7.2.1. Saudi Arabia Market by Motor Type
11.4.7.2.2. Saudi Arabia Market by Output Power
11.4.7.2.3. Saudi Arabia Market by Voltage
11.4.7.2.4. Saudi Arabia Market by Application
11.4.7.3. UAE market
11.4.7.3.1. UAE Market by Motor Type
11.4.7.3.2. UAE Market by Output Power
11.4.7.3.3. UAE Market by Voltage
11.4.7.3.4. UAE Market by Application
11.4.7.4. Rest of MEA market
11.4.7.4.1. Rest of MEA Market by Motor Type
11.4.7.4.2. Rest of MEA Market by Output Power
11.4.7.4.3. Rest of MEA Market by Voltage
11.4.7.4.4. Rest of MEA Market by Application
11.5. SOUTH AMERICA (SAM)
11.5.1. South America Electric Motor Market Overview
11.5.2. South America Electric Motor Market Forecasts and Analysis
11.5.3. South America Market Forecasts and Analysis - By Motor Type
11.5.4. South America Market Forecasts and Analysis - By Output Power
11.5.5. South America Market Forecasts and Analysis - By Voltage
11.5.6. South America Market Forecasts and Analysis - By Application
11.5.7. South America Market Forecasts and Analysis - By Countries
11.5.7.1. Brazil market
11.5.7.1.1. Brazil Market by Motor Type
11.5.7.1.2. Brazil Market by Output Power
11.5.7.1.3. Brazil Market by Voltage
11.5.7.1.4. Brazil Market by Application
11.5.7.2. Argentina market
11.5.7.2.1. Argentina Market by Motor Type
11.5.7.2.2. Argentina Market by Output Power
11.5.7.2.3. Argentina Market by Voltage
11.5.7.2.4. Argentina Market by Application
11.5.7.3. Rest of SAM market
11.5.7.3.1. Rest of SAM Market by Motor Type
11.5.7.3.2. Rest of SAM Market by Output Power
11.5.7.3.3. Rest of SAM Market by Voltage
11.5.7.3.4. Rest of SAM Market by Application
12. INDUSTRY LANDSCAPE
12.1. MERGERS & ACQUISITIONS
12.2. MARKET INITIATIVES
12.3. NEW DEVELOPMENTS
13. ELECTRIC MOTOR MARKET, KEY COMPANY PROFILES
13.1. ABB LTD.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products & Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. AMETEK, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products & Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. FRANKLIN ELECTRIC CO. INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products & Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. GENERAL ELECTRIC
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products & Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. JOHNSON ELECTRIC HOLDINGS LIMITED
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products & Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NIDEC CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products & Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. REGAL BELOIT CORPORATION
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products & Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ROCKWELL AUTOMATION, INC.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products & Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SIEMENS AG
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products & Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. TOSHIBA CORP
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products & Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. ABB Ltd.
2. AMETEK, Inc.
3. Franklin Electric Co. Inc.
4. General Electric
5. Johnson Electric Holdings Limited
6. Nidec Corporation
7. Regal Beloit Corporation
8. Rockwell Automation, Inc.
9. Siemens AG
10. Toshiba Corp
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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