Electrolyzer Market Dynamics 2021-2031
An electrolyzer is a container that contains a liquid electrolyte. The electrolyte's primary function is to separate the anode and cathode. By delivering an electric current through these systems, water is decomposed into hydrogen and oxygen. The electrolyzers are available in various sizes and have different methods of electrolysis. Most of the electrolyzers used are alkaline electrolyzers. Factors such as Surging demand for hydrogen as a feedstock across the chemical and other industries is creating profitable opportunities for the electrolyzer market in the forecast period.
MARKET DYNAMICS
The increasing research & development activities to produce green hydrogen coupled with rising government spending on H2 energy design & development programs and rising sales of electric vehicles (EVs) are driving the demand for hydrogen refueling stations and electrolyzers are driving the growth of the electrolyzer market. Higher cost of the device may restrain the growth of the electrolyzer market. Furthermore increasing awareness about the harmful impact of burning fossil fuels is anticipated to create market opportunities for the electrolyzer market during the forecast period.
MARKET SCOPE
The "Global Electrolyzer Market Analysis to 2031" is a specialized and in-depth study of the electrolyzer market with a special focus on the global market trend analysis. The report aims to provide an overview of electrolyzer market with detailed market segmentation by product, capacity, application, and geography. The global electrolyzer market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electrolyzer market players and offers key trends and opportunities in the electrolyzer market.
MARKET SEGMENTATION
The global electrolyzer market is segmented on the basis of by product, capacity, and application. On the basis of product the market is segmented into alkaline electrolyzer, PEM electrolyzer, and solid oxide electrolyzer. Based on capacity the market is segmented into less than 500 kW, 500 kW to 2 MW, and above 2 MW. Based on application the market is segmented into energy & power, transportation, industry feedstock, building heat & power, and others.
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 electrolyzer 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 electrolyzer 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 electrolyzer 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 electrolyzer market in these regions.
IMPACT OF COVID-19 Electrolyzer MARKET
In countries like China, Brazil, and India, the COVID-19 pandemic had a mixed influence on the energy and power sector. Furthermore, industry players are forced to follow strict restrictions as a result of social distancing and lockdown norms, which has harmed electrolyzer operations. Due to the relaxation of the lockdown by the government authorities and the reopening of industrial facilities, manufacturing plants, and the transportation sector, the industry is expected to recover its lost strength by 2021. In addition, the industry's prospects will be bolstered by restructuring investments in new projects and renovating current facilities.
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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 electrolyzer 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 electrolyzer 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 electrolyzer 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 electrolyzer market in these regions.
IMPACT OF COVID-19 Electrolyzer MARKET
In countries like China, Brazil, and India, the COVID-19 pandemic had a mixed influence on the energy and power sector. Furthermore, industry players are forced to follow strict restrictions as a result of social distancing and lockdown norms, which has harmed electrolyzer operations. Due to the relaxation of the lockdown by the government authorities and the reopening of industrial facilities, manufacturing plants, and the transportation sector, the industry is expected to recover its lost strength by 2021. In addition, the industry's prospects will be bolstered by restructuring investments in new projects and renovating current facilities.
MARKET PLAYERS
The reports cover key developments in the electrolyzer 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 electrolyzer market are anticipated to lucrative growth opportunities in the future with the rising demand for electrolyzer market. Below mentioned is the list of few companies engaged in the electrolyzer market.
The report also includes the profiles of key electrolyzer 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.
- Nel ASA
- Siemens Energy Global GmbH, Co. KG. AG
- Next Hydrogen
- Air Liquide S.A.
- Air Products and Chemicals Inc.
- Asahi Kasei Corporation
- Cummins Inc.
- ITM Power plc
- McPhy Energy S.A.
- Plug Power Inc
- 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 Electrolyzer Market - By Product
1.3.2 Electrolyzer Market - By Capacity
1.3.3 Electrolyzer Market - By Application
1.3.4 Electrolyzer Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTROLYZER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ELECTROLYZER 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. ELECTROLYZER MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTROLYZER - GLOBAL MARKET OVERVIEW
6.2. ELECTROLYZER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ELECTROLYZER MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. ALKALINE ELECTROLYZER
7.3.1. Overview
7.3.2. Alkaline Electrolyzer Market Forecast and Analysis
7.4. PEM ELECTROLYZER
7.4.1. Overview
7.4.2. PEM Electrolyzer Market Forecast and Analysis
7.5. SOLID OXIDE ELECTROLYZER
7.5.1. Overview
7.5.2. Solid Oxide Electrolyzer Market Forecast and Analysis
8. ELECTROLYZER MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
8.1. OVERVIEW
8.2. CAPACITY MARKET FORECASTS AND ANALYSIS
8.3. LESS THAN 500 KW
8.3.1. Overview
8.3.2. Less than 500 kW Market Forecast and Analysis
8.4. 500 KW TO 2 MW
8.4.1. Overview
8.4.2. 500 kW to 2 MW Market Forecast and Analysis
8.5. ABOVE 2 MW
8.5.1. Overview
8.5.2. Above 2 MW Market Forecast and Analysis
9. ELECTROLYZER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. POWER AND ENERGY
9.3.1. Overview
9.3.2. Power and Energy Market Forecast and Analysis
9.4. TRANSPORTATION
9.4.1. Overview
9.4.2. Transportation Market Forecast and Analysis
9.5. INDUSTRY FEEDSTOCK
9.5.1. Overview
9.5.2. Industry Feedstock Market Forecast and Analysis
9.6. BUILDING HEAT AND POWER
9.6.1. Overview
9.6.2. Building Heat and Power Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. ELECTROLYZER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electrolyzer Market Overview
10.1.2 North America Electrolyzer Market Forecasts and Analysis
10.1.3 North America Electrolyzer Market Forecasts and Analysis - By Product
10.1.4 North America Electrolyzer Market Forecasts and Analysis - By Capacity
10.1.5 North America Electrolyzer Market Forecasts and Analysis - By Application
10.1.6 North America Electrolyzer Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electrolyzer Market
10.1.6.1.1 United States Electrolyzer Market by Product
10.1.6.1.2 United States Electrolyzer Market by Capacity
10.1.6.1.3 United States Electrolyzer Market by Application
10.1.6.2 Canada Electrolyzer Market
10.1.6.2.1 Canada Electrolyzer Market by Product
10.1.6.2.2 Canada Electrolyzer Market by Capacity
10.1.6.2.3 Canada Electrolyzer Market by Application
10.1.6.3 Mexico Electrolyzer Market
10.1.6.3.1 Mexico Electrolyzer Market by Product
10.1.6.3.2 Mexico Electrolyzer Market by Capacity
10.1.6.3.3 Mexico Electrolyzer Market by Application
10.2. EUROPE
10.2.1 Europe Electrolyzer Market Overview
10.2.2 Europe Electrolyzer Market Forecasts and Analysis
10.2.3 Europe Electrolyzer Market Forecasts and Analysis - By Product
10.2.4 Europe Electrolyzer Market Forecasts and Analysis - By Capacity
10.2.5 Europe Electrolyzer Market Forecasts and Analysis - By Application
10.2.6 Europe Electrolyzer Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electrolyzer Market
10.2.6.1.1 Germany Electrolyzer Market by Product
10.2.6.1.2 Germany Electrolyzer Market by Capacity
10.2.6.1.3 Germany Electrolyzer Market by Application
10.2.6.2 France Electrolyzer Market
10.2.6.2.1 France Electrolyzer Market by Product
10.2.6.2.2 France Electrolyzer Market by Capacity
10.2.6.2.3 France Electrolyzer Market by Application
10.2.6.3 Italy Electrolyzer Market
10.2.6.3.1 Italy Electrolyzer Market by Product
10.2.6.3.2 Italy Electrolyzer Market by Capacity
10.2.6.3.3 Italy Electrolyzer Market by Application
10.2.6.4 United Kingdom Electrolyzer Market
10.2.6.4.1 United Kingdom Electrolyzer Market by Product
10.2.6.4.2 United Kingdom Electrolyzer Market by Capacity
10.2.6.4.3 United Kingdom Electrolyzer Market by Application
10.2.6.5 Russia Electrolyzer Market
10.2.6.5.1 Russia Electrolyzer Market by Product
10.2.6.5.2 Russia Electrolyzer Market by Capacity
10.2.6.5.3 Russia Electrolyzer Market by Application
10.2.6.6 Rest of Europe Electrolyzer Market
10.2.6.6.1 Rest of Europe Electrolyzer Market by Product
10.2.6.6.2 Rest of Europe Electrolyzer Market by Capacity
10.2.6.6.3 Rest of Europe Electrolyzer Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electrolyzer Market Overview
10.3.2 Asia-Pacific Electrolyzer Market Forecasts and Analysis
10.3.3 Asia-Pacific Electrolyzer Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Electrolyzer Market Forecasts and Analysis - By Capacity
10.3.5 Asia-Pacific Electrolyzer Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Electrolyzer Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electrolyzer Market
10.3.6.1.1 Australia Electrolyzer Market by Product
10.3.6.1.2 Australia Electrolyzer Market by Capacity
10.3.6.1.3 Australia Electrolyzer Market by Application
10.3.6.2 China Electrolyzer Market
10.3.6.2.1 China Electrolyzer Market by Product
10.3.6.2.2 China Electrolyzer Market by Capacity
10.3.6.2.3 China Electrolyzer Market by Application
10.3.6.3 India Electrolyzer Market
10.3.6.3.1 India Electrolyzer Market by Product
10.3.6.3.2 India Electrolyzer Market by Capacity
10.3.6.3.3 India Electrolyzer Market by Application
10.3.6.4 Japan Electrolyzer Market
10.3.6.4.1 Japan Electrolyzer Market by Product
10.3.6.4.2 Japan Electrolyzer Market by Capacity
10.3.6.4.3 Japan Electrolyzer Market by Application
10.3.6.5 South Korea Electrolyzer Market
10.3.6.5.1 South Korea Electrolyzer Market by Product
10.3.6.5.2 South Korea Electrolyzer Market by Capacity
10.3.6.5.3 South Korea Electrolyzer Market by Application
10.3.6.6 Rest of Asia-Pacific Electrolyzer Market
10.3.6.6.1 Rest of Asia-Pacific Electrolyzer Market by Product
10.3.6.6.2 Rest of Asia-Pacific Electrolyzer Market by Capacity
10.3.6.6.3 Rest of Asia-Pacific Electrolyzer Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electrolyzer Market Overview
10.4.2 Middle East and Africa Electrolyzer Market Forecasts and Analysis
10.4.3 Middle East and Africa Electrolyzer Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Electrolyzer Market Forecasts and Analysis - By Capacity
10.4.5 Middle East and Africa Electrolyzer Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Electrolyzer Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electrolyzer Market
10.4.6.1.1 South Africa Electrolyzer Market by Product
10.4.6.1.2 South Africa Electrolyzer Market by Capacity
10.4.6.1.3 South Africa Electrolyzer Market by Application
10.4.6.2 Saudi Arabia Electrolyzer Market
10.4.6.2.1 Saudi Arabia Electrolyzer Market by Product
10.4.6.2.2 Saudi Arabia Electrolyzer Market by Capacity
10.4.6.2.3 Saudi Arabia Electrolyzer Market by Application
10.4.6.3 U.A.E Electrolyzer Market
10.4.6.3.1 U.A.E Electrolyzer Market by Product
10.4.6.3.2 U.A.E Electrolyzer Market by Capacity
10.4.6.3.3 U.A.E Electrolyzer Market by Application
10.4.6.4 Rest of Middle East and Africa Electrolyzer Market
10.4.6.4.1 Rest of Middle East and Africa Electrolyzer Market by Product
10.4.6.4.2 Rest of Middle East and Africa Electrolyzer Market by Capacity
10.4.6.4.3 Rest of Middle East and Africa Electrolyzer Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electrolyzer Market Overview
10.5.2 South and Central America Electrolyzer Market Forecasts and Analysis
10.5.3 South and Central America Electrolyzer Market Forecasts and Analysis - By Product
10.5.4 South and Central America Electrolyzer Market Forecasts and Analysis - By Capacity
10.5.5 South and Central America Electrolyzer Market Forecasts and Analysis - By Application
10.5.6 South and Central America Electrolyzer Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electrolyzer Market
10.5.6.1.1 Brazil Electrolyzer Market by Product
10.5.6.1.2 Brazil Electrolyzer Market by Capacity
10.5.6.1.3 Brazil Electrolyzer Market by Application
10.5.6.2 Argentina Electrolyzer Market
10.5.6.2.1 Argentina Electrolyzer Market by Product
10.5.6.2.2 Argentina Electrolyzer Market by Capacity
10.5.6.2.3 Argentina Electrolyzer Market by Application
10.5.6.3 Rest of South and Central America Electrolyzer Market
10.5.6.3.1 Rest of South and Central America Electrolyzer Market by Product
10.5.6.3.2 Rest of South and Central America Electrolyzer Market by Capacity
10.5.6.3.3 Rest of South and Central America Electrolyzer Market by Application
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. ELECTROLYZER MARKET, KEY COMPANY PROFILES
12.1. NEL ASA
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. SIEMENS ENERGY GLOBAL GMBH, CO. KG. AG
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. AIR LIQUIDE S.A.
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. AIR PRODUCTS AND CHEMICAL INC.
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. ASAHI KASEI CORPORATION
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. CUMMINS INC.
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. PLUG POWER INC.
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. MCPHY ENERGY S.A.
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. ITM POWER PLC
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. NEXT HYDROGEN
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.Nel ASA
2.Siemens Energy Global GmbH, Co. KG. AG
3.Air Liquide S.A.
4.Air Products and Chemical Inc.
5.Asahi Kasei Corporation
6.Cummins Inc.
7.Plug Power Inc.
8.McPhy Energy S.A.
9.ITM Power plc
10.Next Hydrogen
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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