Electric Motorcycle and Scooter Market Scope and Size by 2031
The Electric Motorcycle and Scooter Market is expected to register a CAGR of 17.4% 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 By Battery (Sealed Lead Acid, Lithium-Ion); Technology (Battery, Plug-in); Range (Below 75 miles, 75-100 miles, Above 100 miles). 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 ReportThe report Electric Motorcycle and Scooter 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 Motorcycle and Scooter Market Segmentation
Battery- Sealed Lead Acid
- Lithium-Ion
- Battery
- Plug-in
- Below 75 miles
- 75-100 miles
- Above 100 miles
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Electric Motorcycle and Scooter Market Growth Drivers- Rising Environmental Consciousness: The fundamental driver for this market is growing environmental consciousness along with the requirement for clean transportation alternatives. Consumers seek ecologically friendly alternatives to conventional vehicles in order to have an increasingly cleaner means of transporting themselves around, thus increasing adoption of electric scooters.
- Urbanization and Traffic Congestion: Rapid urbanization coupled with the subsequent traffic jam experienced in cities has made people seek more effective means of mobility. The electric scooters have been observed to offer a reasonable mode of moving through congested cities and have become the most preferred mode for short distances.
- Rising Fuel Costs: The increasing cost of gasoline and other fuels is pushing consumers towards more economical alternatives like electric motorcycles and scooters. These vehicles offer lower operating costs, as electricity is generally cheaper than gasoline, which makes EVs an appealing choice for urban commuters.
- Governmental support and incentives: Most of the Governments are making policies and incentives which encourage the use of electric vehicles including two-wheeled scooters. This support can take in many ways; for instance, subsidies, tax-breaks and infrastructure for charging, with all these opportunities arriving for manufacturers and service providers in the electric scooter market.
- Technological Advancements: Advances in battery technology and the efficiency of the electric motor always lead to more opportunities for innovation in the electric scooter market. Long-life batteries, high-speed charging cycles, and an improved performance level will draw more customers and expand the market further.
- Rise of Shared Mobility Services: The trend towards shared mobility services, such as electric scooter rentals and ride-sharing platforms, is gaining momentum. This model allows users to access scooters without the need for ownership, making it a convenient option for urban commuters and tourists.
- Charging Infrastructure Expansion: With increasing demand for electric motorcycles and scooters, there will be a need for an increased number of charging stations. Public and private expansion of charging networks offer great opportunities to increase the convenience for EV owners, wider adoption, and address range and availability concerns.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electric Motorcycle and Scooter 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 Motorcycle and Scooter 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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
- 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
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to country scope.
Frequently Asked Questions
The Electric Motorcycle and Scooter Market is estimated to witness a CAGR of 17.4% from 2023 to 2031
The major factors driving the Electric Motorcycle and Scooter Market are:Rising Environmental Consciousness#Urbanization and Traffic Congestion
Rise of Shared Mobility Services is the key future trend of the Electric Motorcycle and Scooter Market
The leading players operating in the Electric Motorcycle and Scooter Market include Yadea Technology Group Co. Ltd, Zhejiang Luyuan Electric Vehicle Co Ltd, Niu Technologies, Mahendra GenZe, Hero Electric, Vmoto Limited, Amper Vehicles, Govecs Group, BMW Motorrad International, Gogoro Inc.
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 Electric Motorcycle And Scooter Market - By Battery
1.3.2 Electric Motorcycle And Scooter Market - By Technology
1.3.3 Electric Motorcycle And Scooter Market - By Range
1.3.4 Electric Motorcycle And Scooter Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC MOTORCYCLE AND SCOOTER 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 MOTORCYCLE AND SCOOTER 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 MOTORCYCLE AND SCOOTER MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC MOTORCYCLE AND SCOOTER - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC MOTORCYCLE AND SCOOTER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC MOTORCYCLE AND SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - BATTERY
7.1. OVERVIEW
7.2. BATTERY MARKET FORECASTS AND ANALYSIS
7.3. SEALED LEAD ACID
7.3.1. Overview
7.3.2. Sealed Lead Acid Market Forecast and Analysis
7.4. LITHIUM-ION
7.4.1. Overview
7.4.2. Lithium-Ion Market Forecast and Analysis
8. ELECTRIC MOTORCYCLE AND SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. BATTERY
8.3.1. Overview
8.3.2. Battery Market Forecast and Analysis
8.4. PLUG-IN
8.4.1. Overview
8.4.2. Plug-in Market Forecast and Analysis
9. ELECTRIC MOTORCYCLE AND SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - RANGE
9.1. OVERVIEW
9.2. RANGE MARKET FORECASTS AND ANALYSIS
9.3. BELOW 75 MILES
9.3.1. Overview
9.3.2. Below 75 miles Market Forecast and Analysis
9.4. 75-100 MILES
9.4.1. Overview
9.4.2. 75-100 miles Market Forecast and Analysis
9.5. ABOVE 100 MILES
9.5.1. Overview
9.5.2. Above 100 miles Market Forecast and Analysis
10. ELECTRIC MOTORCYCLE AND SCOOTER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electric Motorcycle And Scooter Market Overview
10.1.2 North America Electric Motorcycle And Scooter Market Forecasts and Analysis
10.1.3 North America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Battery
10.1.4 North America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Technology
10.1.5 North America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Range
10.1.6 North America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electric Motorcycle And Scooter Market
10.1.6.1.1 United States Electric Motorcycle And Scooter Market by Battery
10.1.6.1.2 United States Electric Motorcycle And Scooter Market by Technology
10.1.6.1.3 United States Electric Motorcycle And Scooter Market by Range
10.1.6.2 Canada Electric Motorcycle And Scooter Market
10.1.6.2.1 Canada Electric Motorcycle And Scooter Market by Battery
10.1.6.2.2 Canada Electric Motorcycle And Scooter Market by Technology
10.1.6.2.3 Canada Electric Motorcycle And Scooter Market by Range
10.1.6.3 Mexico Electric Motorcycle And Scooter Market
10.1.6.3.1 Mexico Electric Motorcycle And Scooter Market by Battery
10.1.6.3.2 Mexico Electric Motorcycle And Scooter Market by Technology
10.1.6.3.3 Mexico Electric Motorcycle And Scooter Market by Range
10.2. EUROPE
10.2.1 Europe Electric Motorcycle And Scooter Market Overview
10.2.2 Europe Electric Motorcycle And Scooter Market Forecasts and Analysis
10.2.3 Europe Electric Motorcycle And Scooter Market Forecasts and Analysis - By Battery
10.2.4 Europe Electric Motorcycle And Scooter Market Forecasts and Analysis - By Technology
10.2.5 Europe Electric Motorcycle And Scooter Market Forecasts and Analysis - By Range
10.2.6 Europe Electric Motorcycle And Scooter Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electric Motorcycle And Scooter Market
10.2.6.1.1 Germany Electric Motorcycle And Scooter Market by Battery
10.2.6.1.2 Germany Electric Motorcycle And Scooter Market by Technology
10.2.6.1.3 Germany Electric Motorcycle And Scooter Market by Range
10.2.6.2 France Electric Motorcycle And Scooter Market
10.2.6.2.1 France Electric Motorcycle And Scooter Market by Battery
10.2.6.2.2 France Electric Motorcycle And Scooter Market by Technology
10.2.6.2.3 France Electric Motorcycle And Scooter Market by Range
10.2.6.3 Italy Electric Motorcycle And Scooter Market
10.2.6.3.1 Italy Electric Motorcycle And Scooter Market by Battery
10.2.6.3.2 Italy Electric Motorcycle And Scooter Market by Technology
10.2.6.3.3 Italy Electric Motorcycle And Scooter Market by Range
10.2.6.4 United Kingdom Electric Motorcycle And Scooter Market
10.2.6.4.1 United Kingdom Electric Motorcycle And Scooter Market by Battery
10.2.6.4.2 United Kingdom Electric Motorcycle And Scooter Market by Technology
10.2.6.4.3 United Kingdom Electric Motorcycle And Scooter Market by Range
10.2.6.5 Russia Electric Motorcycle And Scooter Market
10.2.6.5.1 Russia Electric Motorcycle And Scooter Market by Battery
10.2.6.5.2 Russia Electric Motorcycle And Scooter Market by Technology
10.2.6.5.3 Russia Electric Motorcycle And Scooter Market by Range
10.2.6.6 Rest of Europe Electric Motorcycle And Scooter Market
10.2.6.6.1 Rest of Europe Electric Motorcycle And Scooter Market by Battery
10.2.6.6.2 Rest of Europe Electric Motorcycle And Scooter Market by Technology
10.2.6.6.3 Rest of Europe Electric Motorcycle And Scooter Market by Range
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electric Motorcycle And Scooter Market Overview
10.3.2 Asia-Pacific Electric Motorcycle And Scooter Market Forecasts and Analysis
10.3.3 Asia-Pacific Electric Motorcycle And Scooter Market Forecasts and Analysis - By Battery
10.3.4 Asia-Pacific Electric Motorcycle And Scooter Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Electric Motorcycle And Scooter Market Forecasts and Analysis - By Range
10.3.6 Asia-Pacific Electric Motorcycle And Scooter Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electric Motorcycle And Scooter Market
10.3.6.1.1 Australia Electric Motorcycle And Scooter Market by Battery
10.3.6.1.2 Australia Electric Motorcycle And Scooter Market by Technology
10.3.6.1.3 Australia Electric Motorcycle And Scooter Market by Range
10.3.6.2 China Electric Motorcycle And Scooter Market
10.3.6.2.1 China Electric Motorcycle And Scooter Market by Battery
10.3.6.2.2 China Electric Motorcycle And Scooter Market by Technology
10.3.6.2.3 China Electric Motorcycle And Scooter Market by Range
10.3.6.3 India Electric Motorcycle And Scooter Market
10.3.6.3.1 India Electric Motorcycle And Scooter Market by Battery
10.3.6.3.2 India Electric Motorcycle And Scooter Market by Technology
10.3.6.3.3 India Electric Motorcycle And Scooter Market by Range
10.3.6.4 Japan Electric Motorcycle And Scooter Market
10.3.6.4.1 Japan Electric Motorcycle And Scooter Market by Battery
10.3.6.4.2 Japan Electric Motorcycle And Scooter Market by Technology
10.3.6.4.3 Japan Electric Motorcycle And Scooter Market by Range
10.3.6.5 South Korea Electric Motorcycle And Scooter Market
10.3.6.5.1 South Korea Electric Motorcycle And Scooter Market by Battery
10.3.6.5.2 South Korea Electric Motorcycle And Scooter Market by Technology
10.3.6.5.3 South Korea Electric Motorcycle And Scooter Market by Range
10.3.6.6 Rest of Asia-Pacific Electric Motorcycle And Scooter Market
10.3.6.6.1 Rest of Asia-Pacific Electric Motorcycle And Scooter Market by Battery
10.3.6.6.2 Rest of Asia-Pacific Electric Motorcycle And Scooter Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Electric Motorcycle And Scooter Market by Range
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electric Motorcycle And Scooter Market Overview
10.4.2 Middle East and Africa Electric Motorcycle And Scooter Market Forecasts and Analysis
10.4.3 Middle East and Africa Electric Motorcycle And Scooter Market Forecasts and Analysis - By Battery
10.4.4 Middle East and Africa Electric Motorcycle And Scooter Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Electric Motorcycle And Scooter Market Forecasts and Analysis - By Range
10.4.6 Middle East and Africa Electric Motorcycle And Scooter Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electric Motorcycle And Scooter Market
10.4.6.1.1 South Africa Electric Motorcycle And Scooter Market by Battery
10.4.6.1.2 South Africa Electric Motorcycle And Scooter Market by Technology
10.4.6.1.3 South Africa Electric Motorcycle And Scooter Market by Range
10.4.6.2 Saudi Arabia Electric Motorcycle And Scooter Market
10.4.6.2.1 Saudi Arabia Electric Motorcycle And Scooter Market by Battery
10.4.6.2.2 Saudi Arabia Electric Motorcycle And Scooter Market by Technology
10.4.6.2.3 Saudi Arabia Electric Motorcycle And Scooter Market by Range
10.4.6.3 U.A.E Electric Motorcycle And Scooter Market
10.4.6.3.1 U.A.E Electric Motorcycle And Scooter Market by Battery
10.4.6.3.2 U.A.E Electric Motorcycle And Scooter Market by Technology
10.4.6.3.3 U.A.E Electric Motorcycle And Scooter Market by Range
10.4.6.4 Rest of Middle East and Africa Electric Motorcycle And Scooter Market
10.4.6.4.1 Rest of Middle East and Africa Electric Motorcycle And Scooter Market by Battery
10.4.6.4.2 Rest of Middle East and Africa Electric Motorcycle And Scooter Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Electric Motorcycle And Scooter Market by Range
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electric Motorcycle And Scooter Market Overview
10.5.2 South and Central America Electric Motorcycle And Scooter Market Forecasts and Analysis
10.5.3 South and Central America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Battery
10.5.4 South and Central America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Range
10.5.6 South and Central America Electric Motorcycle And Scooter Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electric Motorcycle And Scooter Market
10.5.6.1.1 Brazil Electric Motorcycle And Scooter Market by Battery
10.5.6.1.2 Brazil Electric Motorcycle And Scooter Market by Technology
10.5.6.1.3 Brazil Electric Motorcycle And Scooter Market by Range
10.5.6.2 Argentina Electric Motorcycle And Scooter Market
10.5.6.2.1 Argentina Electric Motorcycle And Scooter Market by Battery
10.5.6.2.2 Argentina Electric Motorcycle And Scooter Market by Technology
10.5.6.2.3 Argentina Electric Motorcycle And Scooter Market by Range
10.5.6.3 Rest of South and Central America Electric Motorcycle And Scooter Market
10.5.6.3.1 Rest of South and Central America Electric Motorcycle And Scooter Market by Battery
10.5.6.3.2 Rest of South and Central America Electric Motorcycle And Scooter Market by Technology
10.5.6.3.3 Rest of South and Central America Electric Motorcycle And Scooter Market by Range
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 MOTORCYCLE AND SCOOTER MARKET, KEY COMPANY PROFILES
12.1. ENERGICA MOTOR COMPANY S.P.A.
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. GENZE BY MAHINDRA
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. GOVECS AG
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. HERO ELECTRIC.
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. JIANGSU XINRI E-VEHICLE CO.,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. NIU INTERNATIONAL
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. PIAGGIO AND C. SPA
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. VMOTO LIMITED
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. YADEA TECHNOLOGY GROUP CO., LTD
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ZERO MOTORCYCLES INC.
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. Energica Motor Company S.p.A.
2. GenZe by Mahindra
3. GOVECS AG
4. Hero Electric.
5. Jiangsu Xinri E-Vehicle Co.,Ltd
6. Niu International
7. Piaggio and C. SpA
8. Vmoto Limited
9. Yadea Technology Group Co., Ltd
10. Zero Motorcycles Inc.
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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