Electrical Transformer Market SWOT Analysis by 2031
An electrical transformer is referred to as a static system that transfers electrical energy from one circuit to another by means of electromagnetic induction. The transformer consists of the main winding, the secondary winding and the magnetic core. Basically, it converts energy without altering its frequency, but by varying voltage levels in different electrical applications. There are different types of electric transform i.e. power and distribution which are used for different purpose and in different industries accordingly. More industrialization and urbanization with technological advancement is expected to drive the market during forecast period.
MARKET DYNAMICS
Rising investment by governments towards enhancing power infrastructure and growing modernization of pre-existing power grids especially in developed nations is driving the growth of the electrical transformer market. However, the high initial and maintenance cost may restrain the growth of the electrical transformer market. Furthermore, rising global demand for electricity, along with robust urbanization and industrialization is anticipated to create market opportunities for the electrical transformer market during the forecast period.
MARKET SCOPE
The "Global Electrical Transformer Market Analysis to 2031" is a specialized and in-depth study of the electrical transformer market with a special focus on the global market trend analysis. The report aims to provide an overview of electrical transformer market with detailed market segmentation by power rating, cooling type, transformer type, and geography. The global electrical transformer market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electrical transformer market players and offers key trends and opportunities in the electrical transformer market.
MARKET SEGMENTATION
The global electrical transformer market is segmented on the basis of power rating, cooling type, and transformer type. On the basis of power rating, the market is segmented as small power, medium power, and large Power. Similarly, on the basis of cooling type, the market is segmented as oil-cooled and air-cooled. Further, based on transformer type, market is segmented as power and distribution.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electrical transformer market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electrical transformer market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting electrical transformer market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the electrical transformer market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electrical transformer market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electrical transformer market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting electrical transformer market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the electrical transformer market in these regions.
MARKET PLAYERS
The reports cover key developments in the electrical transformer 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 market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from electrical transformer market are anticipated to lucrative growth opportunities in the future with the rising demand for electrical transformer. Below mentioned is the list of few companies engaged in the electrical transformer market.
The report also includes the profiles of key electrical transformer market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Accord Transformer and Switchgear Pvt. Ltd.
- CG Power and Industrial Solutions Limited
- General Electric Company
- Hitachi ABB Power Grids
- HYUNDAI ELECTRIC and ENERGY SYSTEMS CO., LTD.
- Mitsubishi Electric Corporation
- Schneider Electric
- Siemens AG
- SPX Transformer Solutions Inc.
- Toshiba Energy Systems and Solutions Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- 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 Electrical Transformer Market - By Power Rating
1.3.2 Electrical Transformer Market - By Cooling Type
1.3.3 Electrical Transformer Market - By Transformer Type
1.3.4 Electrical Transformer Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRICAL TRANSFORMER 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. ELECTRICAL TRANSFORMER 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. ELECTRICAL TRANSFORMER MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRICAL TRANSFORMER - GLOBAL MARKET OVERVIEW
6.2. ELECTRICAL TRANSFORMER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRICAL TRANSFORMER MARKET - REVENUE AND FORECASTS TO 2028 - POWER RATING
7.1. OVERVIEW
7.2. POWER RATING MARKET FORECASTS AND ANALYSIS
7.3. SMALL POWER
7.3.1. Overview
7.3.2. Small Power Market Forecast and Analysis
7.4. MEDIUM POWER
7.4.1. Overview
7.4.2. Medium Power Market Forecast and Analysis
7.5. LARGE POWER
7.5.1. Overview
7.5.2. Large Power Market Forecast and Analysis
8. ELECTRICAL TRANSFORMER MARKET - REVENUE AND FORECASTS TO 2028 - COOLING TYPE
8.1. OVERVIEW
8.2. COOLING TYPE MARKET FORECASTS AND ANALYSIS
8.3. OIL-COOLED
8.3.1. Overview
8.3.2. Oil-Cooled Market Forecast and Analysis
8.4. AIR-COOLED
8.4.1. Overview
8.4.2. Air-Cooled Market Forecast and Analysis
9. ELECTRICAL TRANSFORMER MARKET - REVENUE AND FORECASTS TO 2028 - TRANSFORMER TYPE
9.1. OVERVIEW
9.2. TRANSFORMER TYPE MARKET FORECASTS AND ANALYSIS
9.3. POWER
9.3.1. Overview
9.3.2. Power Market Forecast and Analysis
9.4. DISTRIBUTION
9.4.1. Overview
9.4.2. Distribution Market Forecast and Analysis
10. ELECTRICAL TRANSFORMER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electrical Transformer Market Overview
10.1.2 North America Electrical Transformer Market Forecasts and Analysis
10.1.3 North America Electrical Transformer Market Forecasts and Analysis - By Power Rating
10.1.4 North America Electrical Transformer Market Forecasts and Analysis - By Cooling Type
10.1.5 North America Electrical Transformer Market Forecasts and Analysis - By Transformer Type
10.1.6 North America Electrical Transformer Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electrical Transformer Market
10.1.6.1.1 United States Electrical Transformer Market by Power Rating
10.1.6.1.2 United States Electrical Transformer Market by Cooling Type
10.1.6.1.3 United States Electrical Transformer Market by Transformer Type
10.1.6.2 Canada Electrical Transformer Market
10.1.6.2.1 Canada Electrical Transformer Market by Power Rating
10.1.6.2.2 Canada Electrical Transformer Market by Cooling Type
10.1.6.2.3 Canada Electrical Transformer Market by Transformer Type
10.1.6.3 Mexico Electrical Transformer Market
10.1.6.3.1 Mexico Electrical Transformer Market by Power Rating
10.1.6.3.2 Mexico Electrical Transformer Market by Cooling Type
10.1.6.3.3 Mexico Electrical Transformer Market by Transformer Type
10.2. EUROPE
10.2.1 Europe Electrical Transformer Market Overview
10.2.2 Europe Electrical Transformer Market Forecasts and Analysis
10.2.3 Europe Electrical Transformer Market Forecasts and Analysis - By Power Rating
10.2.4 Europe Electrical Transformer Market Forecasts and Analysis - By Cooling Type
10.2.5 Europe Electrical Transformer Market Forecasts and Analysis - By Transformer Type
10.2.6 Europe Electrical Transformer Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electrical Transformer Market
10.2.6.1.1 Germany Electrical Transformer Market by Power Rating
10.2.6.1.2 Germany Electrical Transformer Market by Cooling Type
10.2.6.1.3 Germany Electrical Transformer Market by Transformer Type
10.2.6.2 France Electrical Transformer Market
10.2.6.2.1 France Electrical Transformer Market by Power Rating
10.2.6.2.2 France Electrical Transformer Market by Cooling Type
10.2.6.2.3 France Electrical Transformer Market by Transformer Type
10.2.6.3 Italy Electrical Transformer Market
10.2.6.3.1 Italy Electrical Transformer Market by Power Rating
10.2.6.3.2 Italy Electrical Transformer Market by Cooling Type
10.2.6.3.3 Italy Electrical Transformer Market by Transformer Type
10.2.6.4 United Kingdom Electrical Transformer Market
10.2.6.4.1 United Kingdom Electrical Transformer Market by Power Rating
10.2.6.4.2 United Kingdom Electrical Transformer Market by Cooling Type
10.2.6.4.3 United Kingdom Electrical Transformer Market by Transformer Type
10.2.6.5 Russia Electrical Transformer Market
10.2.6.5.1 Russia Electrical Transformer Market by Power Rating
10.2.6.5.2 Russia Electrical Transformer Market by Cooling Type
10.2.6.5.3 Russia Electrical Transformer Market by Transformer Type
10.2.6.6 Rest of Europe Electrical Transformer Market
10.2.6.6.1 Rest of Europe Electrical Transformer Market by Power Rating
10.2.6.6.2 Rest of Europe Electrical Transformer Market by Cooling Type
10.2.6.6.3 Rest of Europe Electrical Transformer Market by Transformer Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electrical Transformer Market Overview
10.3.2 Asia-Pacific Electrical Transformer Market Forecasts and Analysis
10.3.3 Asia-Pacific Electrical Transformer Market Forecasts and Analysis - By Power Rating
10.3.4 Asia-Pacific Electrical Transformer Market Forecasts and Analysis - By Cooling Type
10.3.5 Asia-Pacific Electrical Transformer Market Forecasts and Analysis - By Transformer Type
10.3.6 Asia-Pacific Electrical Transformer Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electrical Transformer Market
10.3.6.1.1 Australia Electrical Transformer Market by Power Rating
10.3.6.1.2 Australia Electrical Transformer Market by Cooling Type
10.3.6.1.3 Australia Electrical Transformer Market by Transformer Type
10.3.6.2 China Electrical Transformer Market
10.3.6.2.1 China Electrical Transformer Market by Power Rating
10.3.6.2.2 China Electrical Transformer Market by Cooling Type
10.3.6.2.3 China Electrical Transformer Market by Transformer Type
10.3.6.3 India Electrical Transformer Market
10.3.6.3.1 India Electrical Transformer Market by Power Rating
10.3.6.3.2 India Electrical Transformer Market by Cooling Type
10.3.6.3.3 India Electrical Transformer Market by Transformer Type
10.3.6.4 Japan Electrical Transformer Market
10.3.6.4.1 Japan Electrical Transformer Market by Power Rating
10.3.6.4.2 Japan Electrical Transformer Market by Cooling Type
10.3.6.4.3 Japan Electrical Transformer Market by Transformer Type
10.3.6.5 South Korea Electrical Transformer Market
10.3.6.5.1 South Korea Electrical Transformer Market by Power Rating
10.3.6.5.2 South Korea Electrical Transformer Market by Cooling Type
10.3.6.5.3 South Korea Electrical Transformer Market by Transformer Type
10.3.6.6 Rest of Asia-Pacific Electrical Transformer Market
10.3.6.6.1 Rest of Asia-Pacific Electrical Transformer Market by Power Rating
10.3.6.6.2 Rest of Asia-Pacific Electrical Transformer Market by Cooling Type
10.3.6.6.3 Rest of Asia-Pacific Electrical Transformer Market by Transformer Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electrical Transformer Market Overview
10.4.2 Middle East and Africa Electrical Transformer Market Forecasts and Analysis
10.4.3 Middle East and Africa Electrical Transformer Market Forecasts and Analysis - By Power Rating
10.4.4 Middle East and Africa Electrical Transformer Market Forecasts and Analysis - By Cooling Type
10.4.5 Middle East and Africa Electrical Transformer Market Forecasts and Analysis - By Transformer Type
10.4.6 Middle East and Africa Electrical Transformer Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electrical Transformer Market
10.4.6.1.1 South Africa Electrical Transformer Market by Power Rating
10.4.6.1.2 South Africa Electrical Transformer Market by Cooling Type
10.4.6.1.3 South Africa Electrical Transformer Market by Transformer Type
10.4.6.2 Saudi Arabia Electrical Transformer Market
10.4.6.2.1 Saudi Arabia Electrical Transformer Market by Power Rating
10.4.6.2.2 Saudi Arabia Electrical Transformer Market by Cooling Type
10.4.6.2.3 Saudi Arabia Electrical Transformer Market by Transformer Type
10.4.6.3 U.A.E Electrical Transformer Market
10.4.6.3.1 U.A.E Electrical Transformer Market by Power Rating
10.4.6.3.2 U.A.E Electrical Transformer Market by Cooling Type
10.4.6.3.3 U.A.E Electrical Transformer Market by Transformer Type
10.4.6.4 Rest of Middle East and Africa Electrical Transformer Market
10.4.6.4.1 Rest of Middle East and Africa Electrical Transformer Market by Power Rating
10.4.6.4.2 Rest of Middle East and Africa Electrical Transformer Market by Cooling Type
10.4.6.4.3 Rest of Middle East and Africa Electrical Transformer Market by Transformer Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electrical Transformer Market Overview
10.5.2 South and Central America Electrical Transformer Market Forecasts and Analysis
10.5.3 South and Central America Electrical Transformer Market Forecasts and Analysis - By Power Rating
10.5.4 South and Central America Electrical Transformer Market Forecasts and Analysis - By Cooling Type
10.5.5 South and Central America Electrical Transformer Market Forecasts and Analysis - By Transformer Type
10.5.6 South and Central America Electrical Transformer Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electrical Transformer Market
10.5.6.1.1 Brazil Electrical Transformer Market by Power Rating
10.5.6.1.2 Brazil Electrical Transformer Market by Cooling Type
10.5.6.1.3 Brazil Electrical Transformer Market by Transformer Type
10.5.6.2 Argentina Electrical Transformer Market
10.5.6.2.1 Argentina Electrical Transformer Market by Power Rating
10.5.6.2.2 Argentina Electrical Transformer Market by Cooling Type
10.5.6.2.3 Argentina Electrical Transformer Market by Transformer Type
10.5.6.3 Rest of South and Central America Electrical Transformer Market
10.5.6.3.1 Rest of South and Central America Electrical Transformer Market by Power Rating
10.5.6.3.2 Rest of South and Central America Electrical Transformer Market by Cooling Type
10.5.6.3.3 Rest of South and Central America Electrical Transformer Market by Transformer Type
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ELECTRICAL TRANSFORMER MARKET, KEY COMPANY PROFILES
12.1. ACCORD TRANSFORMER AND SWITCHGEAR PVT. 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. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. GENERAL ELECTRIC COMPANY
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. HITACHI ABB POWER GRIDS
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. HYUNDAI ELECTRIC AND ENERGY SYSTEMS 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. MITSUBISHI ELECTRIC CORPORATION
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. SCHNEIDER ELECTRIC
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. SIEMENS 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. SPX TRANSFORMER SOLUTIONS INC.
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. TOSHIBA ENERGY SYSTEMS AND SOLUTIONS CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Accord Transformer and Switchgear Pvt. Ltd.
2. CG Power and Industrial Solutions Limited
3. General Electric Company
4. Hitachi ABB Power Grids
5. HYUNDAI ELECTRIC and ENERGY SYSTEMS CO., LTD.
6. Mitsubishi Electric Corporation
7. Schneider Electric
8. Siemens AG
9. SPX Transformer Solutions Inc.
10. Toshiba Energy Systems and Solutions Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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