Electric Vehicle Battery Recycling Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The electric vehicle battery recycling is the process of recovering and recycling the valuable metals in electric battery vehicles. The growing adoption of electric vehicles across the globe is one of the major factors driving the growth of the electric vehicle battery recycling market. The goring demand for recycled products is creating lucrative business opportunities for the companies operating in the market to gain a strong customer base and generate more revenues.
MARKET SCOPE
The "Global Electric vehicle battery recycling Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the electric vehicle battery recycling market with detailed market segmentation by battery type, application, and geography. The report provides key statistics on the market status of the leading electric vehicle battery recycling market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on battery type, the global electric vehicle battery recycling market is segmented into nickel metal hybrid batteries, lithium-ion batteries and li-sulphur batteries.
- On the basis of application, the market is segmented into electric cars, electric buses, energy storage systems and others.
MARKET DYNAMICS
Drivers:
- Finite metal resources and the growing popularity of zero-emission vehicles are the significant factors that are expected to drive the growth of the electric vehicle battery recycling market.
Restraints:
- The high cost of recycling the batteries and is the primary factor that might hinder the growth of the electric vehicle battery recycling market.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric vehicle battery recycling market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the electric vehicle battery recycling market in these regions.
IMPACT OF COVID-19 ON ELECTRIC VEHICLE BATTERY RECYCLING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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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
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric vehicle battery recycling market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the electric vehicle battery recycling market in these regions.
IMPACT OF COVID-19 ON ELECTRIC VEHICLE BATTERY RECYCLING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the electric vehicle battery recycling market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from electric vehicle battery recycling market are anticipated to lucrative growth opportunities in the future with the rising demand for electric vehicle battery recycling in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the electric vehicle battery recycling market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ACCUREC RECYCLING GMBH
- American Manganese Inc.
- Battery Solutions, LLC
- Fortum
- GlobalTech Environmental
- Interseroh - an ALBA Group Company
- LI-CYCLE CORP
- Recupyl
- SITRASA
- Umicore
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Electric Vehicle Battery Recycling Market - By Battery Type
1.3.2 Electric Vehicle Battery Recycling Market - By Application
1.3.3 Electric Vehicle Battery Recycling Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC VEHICLE BATTERY RECYCLING 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 VEHICLE BATTERY RECYCLING 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 VEHICLE BATTERY RECYCLING MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC VEHICLE BATTERY RECYCLING - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC VEHICLE BATTERY RECYCLING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC VEHICLE BATTERY RECYCLING MARKET - REVENUE AND FORECASTS TO 2028 - BATTERY TYPE
7.1. OVERVIEW
7.2. BATTERY TYPE MARKET FORECASTS AND ANALYSIS
7.3. NICKEL METAL HYDRIDE BATTERIES
7.3.1. Overview
7.3.2. Nickel Metal Hydride Batteries Market Forecast and Analysis
7.4. LITHIUM-ION BATTERIES
7.4.1. Overview
7.4.2. Lithium-Ion Batteries Market Forecast and Analysis
7.5. LI-SULPHUR BATTERIES
7.5.1. Overview
7.5.2. Li-Sulphur Batteries Market Forecast and Analysis
8. ELECTRIC VEHICLE BATTERY RECYCLING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ELECTRIC CARS
8.3.1. Overview
8.3.2. Electric Cars Market Forecast and Analysis
8.4. ELECTRIC BUSES
8.4.1. Overview
8.4.2. Electric Buses Market Forecast and Analysis
8.5. ENERGY STORAGE SYSTEMS
8.5.1. Overview
8.5.2. Energy Storage Systems Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. ELECTRIC VEHICLE BATTERY RECYCLING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Electric Vehicle Battery Recycling Market Overview
9.1.2 North America Electric Vehicle Battery Recycling Market Forecasts and Analysis
9.1.3 North America Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Battery Type
9.1.4 North America Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Application
9.1.5 North America Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Countries
9.1.5.1 United States Electric Vehicle Battery Recycling Market
9.1.5.1.1 United States Electric Vehicle Battery Recycling Market by Battery Type
9.1.5.1.2 United States Electric Vehicle Battery Recycling Market by Application
9.1.5.2 Canada Electric Vehicle Battery Recycling Market
9.1.5.2.1 Canada Electric Vehicle Battery Recycling Market by Battery Type
9.1.5.2.2 Canada Electric Vehicle Battery Recycling Market by Application
9.1.5.3 Mexico Electric Vehicle Battery Recycling Market
9.1.5.3.1 Mexico Electric Vehicle Battery Recycling Market by Battery Type
9.1.5.3.2 Mexico Electric Vehicle Battery Recycling Market by Application
9.2. EUROPE
9.2.1 Europe Electric Vehicle Battery Recycling Market Overview
9.2.2 Europe Electric Vehicle Battery Recycling Market Forecasts and Analysis
9.2.3 Europe Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Battery Type
9.2.4 Europe Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Application
9.2.5 Europe Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Electric Vehicle Battery Recycling Market
9.2.5.1.1 Germany Electric Vehicle Battery Recycling Market by Battery Type
9.2.5.1.2 Germany Electric Vehicle Battery Recycling Market by Application
9.2.5.2 France Electric Vehicle Battery Recycling Market
9.2.5.2.1 France Electric Vehicle Battery Recycling Market by Battery Type
9.2.5.2.2 France Electric Vehicle Battery Recycling Market by Application
9.2.5.3 Italy Electric Vehicle Battery Recycling Market
9.2.5.3.1 Italy Electric Vehicle Battery Recycling Market by Battery Type
9.2.5.3.2 Italy Electric Vehicle Battery Recycling Market by Application
9.2.5.4 United Kingdom Electric Vehicle Battery Recycling Market
9.2.5.4.1 United Kingdom Electric Vehicle Battery Recycling Market by Battery Type
9.2.5.4.2 United Kingdom Electric Vehicle Battery Recycling Market by Application
9.2.5.5 Russia Electric Vehicle Battery Recycling Market
9.2.5.5.1 Russia Electric Vehicle Battery Recycling Market by Battery Type
9.2.5.5.2 Russia Electric Vehicle Battery Recycling Market by Application
9.2.5.6 Rest of Europe Electric Vehicle Battery Recycling Market
9.2.5.6.1 Rest of Europe Electric Vehicle Battery Recycling Market by Battery Type
9.2.5.6.2 Rest of Europe Electric Vehicle Battery Recycling Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Electric Vehicle Battery Recycling Market Overview
9.3.2 Asia-Pacific Electric Vehicle Battery Recycling Market Forecasts and Analysis
9.3.3 Asia-Pacific Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Battery Type
9.3.4 Asia-Pacific Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Electric Vehicle Battery Recycling Market
9.3.5.1.1 Australia Electric Vehicle Battery Recycling Market by Battery Type
9.3.5.1.2 Australia Electric Vehicle Battery Recycling Market by Application
9.3.5.2 China Electric Vehicle Battery Recycling Market
9.3.5.2.1 China Electric Vehicle Battery Recycling Market by Battery Type
9.3.5.2.2 China Electric Vehicle Battery Recycling Market by Application
9.3.5.3 India Electric Vehicle Battery Recycling Market
9.3.5.3.1 India Electric Vehicle Battery Recycling Market by Battery Type
9.3.5.3.2 India Electric Vehicle Battery Recycling Market by Application
9.3.5.4 Japan Electric Vehicle Battery Recycling Market
9.3.5.4.1 Japan Electric Vehicle Battery Recycling Market by Battery Type
9.3.5.4.2 Japan Electric Vehicle Battery Recycling Market by Application
9.3.5.5 South Korea Electric Vehicle Battery Recycling Market
9.3.5.5.1 South Korea Electric Vehicle Battery Recycling Market by Battery Type
9.3.5.5.2 South Korea Electric Vehicle Battery Recycling Market by Application
9.3.5.6 Rest of Asia-Pacific Electric Vehicle Battery Recycling Market
9.3.5.6.1 Rest of Asia-Pacific Electric Vehicle Battery Recycling Market by Battery Type
9.3.5.6.2 Rest of Asia-Pacific Electric Vehicle Battery Recycling Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Electric Vehicle Battery Recycling Market Overview
9.4.2 Middle East and Africa Electric Vehicle Battery Recycling Market Forecasts and Analysis
9.4.3 Middle East and Africa Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Battery Type
9.4.4 Middle East and Africa Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Electric Vehicle Battery Recycling Market
9.4.5.1.1 South Africa Electric Vehicle Battery Recycling Market by Battery Type
9.4.5.1.2 South Africa Electric Vehicle Battery Recycling Market by Application
9.4.5.2 Saudi Arabia Electric Vehicle Battery Recycling Market
9.4.5.2.1 Saudi Arabia Electric Vehicle Battery Recycling Market by Battery Type
9.4.5.2.2 Saudi Arabia Electric Vehicle Battery Recycling Market by Application
9.4.5.3 U.A.E Electric Vehicle Battery Recycling Market
9.4.5.3.1 U.A.E Electric Vehicle Battery Recycling Market by Battery Type
9.4.5.3.2 U.A.E Electric Vehicle Battery Recycling Market by Application
9.4.5.4 Rest of Middle East and Africa Electric Vehicle Battery Recycling Market
9.4.5.4.1 Rest of Middle East and Africa Electric Vehicle Battery Recycling Market by Battery Type
9.4.5.4.2 Rest of Middle East and Africa Electric Vehicle Battery Recycling Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Electric Vehicle Battery Recycling Market Overview
9.5.2 South and Central America Electric Vehicle Battery Recycling Market Forecasts and Analysis
9.5.3 South and Central America Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Battery Type
9.5.4 South and Central America Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Application
9.5.5 South and Central America Electric Vehicle Battery Recycling Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Electric Vehicle Battery Recycling Market
9.5.5.1.1 Brazil Electric Vehicle Battery Recycling Market by Battery Type
9.5.5.1.2 Brazil Electric Vehicle Battery Recycling Market by Application
9.5.5.2 Argentina Electric Vehicle Battery Recycling Market
9.5.5.2.1 Argentina Electric Vehicle Battery Recycling Market by Battery Type
9.5.5.2.2 Argentina Electric Vehicle Battery Recycling Market by Application
9.5.5.3 Rest of South and Central America Electric Vehicle Battery Recycling Market
9.5.5.3.1 Rest of South and Central America Electric Vehicle Battery Recycling Market by Battery Type
9.5.5.3.2 Rest of South and Central America Electric Vehicle Battery Recycling Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ELECTRIC VEHICLE BATTERY RECYCLING MARKET, KEY COMPANY PROFILES
11.1. ACCUREC RECYCLING GMBH
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AMERICAN MANGANESE INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BATTERY SOLUTIONS, LLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FORTUM
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GLOBALTECH ENVIRONMENTAL
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. INTERSEROH
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LI-CYCLE CORP
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. RECUPYL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SITRASA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. UMICORE
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ACCUREC RECYCLING GMBH
2. American Manganese Inc.
3. Battery Solutions, LLC
4. Fortum
5. GlobalTech Environmental
6. Interseroh
7. LI-CYCLE CORP
8. Recupyl
9. SITRASA
10. Umicore
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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