Generator Sets Market - Size and Forecast [2024-2031]
The Generator Sets Market is expected to register a CAGR of 7.5% 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 Fuel Type (Diesel, Natural Gas, Others). The report further presents analysis based on the Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, Above 750 kVA). The report further presents analysis based on the Application (Standby, Peak Shaving, Continuous). The report further presents analysis based on the End User (Residential, Commercial and Industrial). 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 Generator Sets 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.
Generator Sets Market Segmentation
Fuel Type- Diesel
- Natural Gas
- Others
- Below 75 kVA
- 75-375 kVA
- 375-750 kVA
- Above 750 kVA
- Standby
- Peak Shaving
- Continuous
- Residential
- Commercial and Industrial
- Residential
- Commercial and Industrial
Strategic Insights
Generator Sets Market Growth Drivers- Increasing Urbanization and Infrastructure Development Worldwide: According to the World Bank Group, currently, more than 55% of the total population across the world lives in cities, which is expected to increase by 1.5 times by 2045. Urban areas generate more than 80% of the global GDP and can contribute to sustainable growth through increased productivity and innovation. Adequate infrastructure, including elements such as roads, water supply, electricity, and sanitation, is a prerequisite for the growth and prosperity of urban areas. In addition, rise in industrial investments across the globe is expected to drive the demand for generator sets in the coming years.
- Rise in Demand for Natural Gas: The demand for natural gas is increasing in applications such as heating, power generation, cooking, and transportation. Versatility associated with the application of natural gas results in the growing share of natural gas in the global energy mix. Moreover, the lowest potential for pollution among all fossil fuels renders natural gas as one of the chief energy sources. Natural gas is also preferred as an alternative in many household applications, e.g., room heating or water heating. Hence, the rise in demand for natural gas from industries and other applications is expected to drive the generator sets market in the coming years.
- Growth in Construction Activities and Infrastructure Projects: The growth in construction activities and infrastructure projects significantly drives the demand for generators sets for stationary and backup power application in the industry. Rapid urbanization and the rise in population drive the need for new housing, commercial spaces, and infrastructure. For instance, Saudi Arabia is planning to become one of the largest construction sites in the world, with approximately US$ 1.1 trillion of investment in infrastructure and real estate projects. These infrastructure and real estate development projects include Neom Super City, King Salman Park, Diriyah Gate, The Red Sea Projects, Jeddah Economic City, and Jeddah Central Projects. Such rise in investment towards infrastructure projects is expected to drive the demand for generator sets in the coming years
- Shift Towards Hybrid and Green Energy Solutions: There is a growing trend toward the adoption of hybrid generator sets that combine traditional fuel sources (diesel, gas) with renewable energy sources such as solar and wind. These systems reduce the environmental impact of generator sets by lowering fuel consumption and emissions. Hybrid solutions are gaining popularity in both residential and industrial applications as sustainability becomes more important.
- Increasing Trend of Renting Generator Equipment: The increasing trend of renting generator equipment rather than outright ownership aligns with the evolving needs and preferences of businesses across industries. Renting generator sets provides businesses with a cost-efficient alternative to purchasing, particularly for those with intermittent or project-specific needs. This approach allows companies to allocate capital to other critical areas while still gaining access to advanced and specialized generator models.
- Increased Demand for Data Centers and Telecom Industry: The expansion of data centers, telecom infrastructure, and cloud computing services presents a significant opportunity for generator set manufacturers. These facilities require reliable, uninterrupted power supply to maintain critical operations. Generator sets play a crucial role in ensuring data integrity and availability, making them indispensable for industries that rely heavily on IT infrastructure, such as e-commerce, finance, and telecommunications.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Generator Sets 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 Generator Sets 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.
REGIONAL FRAMEWORK
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- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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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 Generator Sets Market is estimated to witness a CAGR of 7.5% from 2023 to 2031
The major factors driving the Generator Sets Market are: Increasing Urbanization and Infrastructure Development WorldwideRise in Demand for Natural Gas
Increasing trend of renting generator equipment is the key future trend of the Generator Sets Market
The leading players operating in the Generator Sets Market include Kohler Co, Caterpillar Inc, Cummins Inc, Atlas Copco AB, Aggreko Plc, Generac Holdings Inc, Briggs and Straton Corporation, Deere and Company, and General Electric
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 Generator Sets Market - By Fuel Source
1.3.2 Generator Sets Market - By Power rating
1.3.3 Generator Sets Market - By Usage
1.3.4 Generator Sets Market - By End-Use
1.3.5 Generator Sets Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. GENERATOR SETS 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. GENERATOR SETS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. GENERATOR SETS MARKET - GLOBAL MARKET ANALYSIS
6.1. GENERATOR SETS - GLOBAL MARKET OVERVIEW
6.2. GENERATOR SETS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. GENERATOR SETS MARKET - REVENUE AND FORECASTS TO 2028 - FUEL SOURCE
7.1. OVERVIEW
7.2. FUEL SOURCE MARKET FORECASTS AND ANALYSIS
7.3. GASOLINE
7.3.1. Overview
7.3.2. Gasoline Market Forecast and Analysis
7.4. DIESEL
7.4.1. Overview
7.4.2. Diesel Market Forecast and Analysis
7.5. NATURAL GAS
7.5.1. Overview
7.5.2. Natural Gas Market Forecast and Analysis
7.6. BIO-DIESEL
7.6.1. Overview
7.6.2. Bio-diesel Market Forecast and Analysis
7.7. PROPANE
7.7.1. Overview
7.7.2. Propane Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. GENERATOR SETS MARKET - REVENUE AND FORECASTS TO 2028 - POWER RATING
8.1. OVERVIEW
8.2. POWER RATING MARKET FORECASTS AND ANALYSIS
8.3. LESS THAN 50 KVA
8.3.1. Overview
8.3.2. Less than 50 kVA Market Forecast and Analysis
8.4. 50-300 KVA
8.4.1. Overview
8.4.2. 50-300 kVA Market Forecast and Analysis
8.5. 300-1000 KVA
8.5.1. Overview
8.5.2. 300-1000 kVA Market Forecast and Analysis
8.6. GREATER THAN 1000 KVA
8.6.1. Overview
8.6.2. Greater than 1000 kVA Market Forecast and Analysis
9. GENERATOR SETS MARKET - REVENUE AND FORECASTS TO 2028 - USAGE
9.1. OVERVIEW
9.2. USAGE MARKET FORECASTS AND ANALYSIS
9.3. PRIMARY POWER
9.3.1. Overview
9.3.2. Primary Power Market Forecast and Analysis
9.4. BACKUP POWER
9.4.1. Overview
9.4.2. Backup Power Market Forecast and Analysis
10. GENERATOR SETS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
10.1. OVERVIEW
10.2. END-USE MARKET FORECASTS AND ANALYSIS
10.3. RESIDENTIAL
10.3.1. Overview
10.3.2. Residential Market Forecast and Analysis
10.4. COMMERCIAL
10.4.1. Overview
10.4.2. Commercial Market Forecast and Analysis
10.5. INDUSTRIAL
10.5.1. Overview
10.5.2. Industrial Market Forecast and Analysis
11. GENERATOR SETS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Generator Sets Market Overview
11.1.2 North America Generator Sets Market Forecasts and Analysis
11.1.3 North America Generator Sets Market Forecasts and Analysis - By Fuel Source
11.1.4 North America Generator Sets Market Forecasts and Analysis - By Power rating
11.1.5 North America Generator Sets Market Forecasts and Analysis - By Usage
11.1.6 North America Generator Sets Market Forecasts and Analysis - By End-Use
11.1.7 North America Generator Sets Market Forecasts and Analysis - By Countries
11.1.7.1 United States Generator Sets Market
11.1.7.1.1 United States Generator Sets Market by Fuel Source
11.1.7.1.2 United States Generator Sets Market by Power rating
11.1.7.1.3 United States Generator Sets Market by Usage
11.1.7.1.4 United States Generator Sets Market by End-Use
11.1.7.2 Canada Generator Sets Market
11.1.7.2.1 Canada Generator Sets Market by Fuel Source
11.1.7.2.2 Canada Generator Sets Market by Power rating
11.1.7.2.3 Canada Generator Sets Market by Usage
11.1.7.2.4 Canada Generator Sets Market by End-Use
11.1.7.3 Mexico Generator Sets Market
11.1.7.3.1 Mexico Generator Sets Market by Fuel Source
11.1.7.3.2 Mexico Generator Sets Market by Power rating
11.1.7.3.3 Mexico Generator Sets Market by Usage
11.1.7.3.4 Mexico Generator Sets Market by End-Use
11.2. EUROPE
11.2.1 Europe Generator Sets Market Overview
11.2.2 Europe Generator Sets Market Forecasts and Analysis
11.2.3 Europe Generator Sets Market Forecasts and Analysis - By Fuel Source
11.2.4 Europe Generator Sets Market Forecasts and Analysis - By Power rating
11.2.5 Europe Generator Sets Market Forecasts and Analysis - By Usage
11.2.6 Europe Generator Sets Market Forecasts and Analysis - By End-Use
11.2.7 Europe Generator Sets Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Generator Sets Market
11.2.7.1.1 Germany Generator Sets Market by Fuel Source
11.2.7.1.2 Germany Generator Sets Market by Power rating
11.2.7.1.3 Germany Generator Sets Market by Usage
11.2.7.1.4 Germany Generator Sets Market by End-Use
11.2.7.2 France Generator Sets Market
11.2.7.2.1 France Generator Sets Market by Fuel Source
11.2.7.2.2 France Generator Sets Market by Power rating
11.2.7.2.3 France Generator Sets Market by Usage
11.2.7.2.4 France Generator Sets Market by End-Use
11.2.7.3 Italy Generator Sets Market
11.2.7.3.1 Italy Generator Sets Market by Fuel Source
11.2.7.3.2 Italy Generator Sets Market by Power rating
11.2.7.3.3 Italy Generator Sets Market by Usage
11.2.7.3.4 Italy Generator Sets Market by End-Use
11.2.7.4 United Kingdom Generator Sets Market
11.2.7.4.1 United Kingdom Generator Sets Market by Fuel Source
11.2.7.4.2 United Kingdom Generator Sets Market by Power rating
11.2.7.4.3 United Kingdom Generator Sets Market by Usage
11.2.7.4.4 United Kingdom Generator Sets Market by End-Use
11.2.7.5 Russia Generator Sets Market
11.2.7.5.1 Russia Generator Sets Market by Fuel Source
11.2.7.5.2 Russia Generator Sets Market by Power rating
11.2.7.5.3 Russia Generator Sets Market by Usage
11.2.7.5.4 Russia Generator Sets Market by End-Use
11.2.7.6 Rest of Europe Generator Sets Market
11.2.7.6.1 Rest of Europe Generator Sets Market by Fuel Source
11.2.7.6.2 Rest of Europe Generator Sets Market by Power rating
11.2.7.6.3 Rest of Europe Generator Sets Market by Usage
11.2.7.6.4 Rest of Europe Generator Sets Market by End-Use
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Generator Sets Market Overview
11.3.2 Asia-Pacific Generator Sets Market Forecasts and Analysis
11.3.3 Asia-Pacific Generator Sets Market Forecasts and Analysis - By Fuel Source
11.3.4 Asia-Pacific Generator Sets Market Forecasts and Analysis - By Power rating
11.3.5 Asia-Pacific Generator Sets Market Forecasts and Analysis - By Usage
11.3.6 Asia-Pacific Generator Sets Market Forecasts and Analysis - By End-Use
11.3.7 Asia-Pacific Generator Sets Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Generator Sets Market
11.3.7.1.1 Australia Generator Sets Market by Fuel Source
11.3.7.1.2 Australia Generator Sets Market by Power rating
11.3.7.1.3 Australia Generator Sets Market by Usage
11.3.7.1.4 Australia Generator Sets Market by End-Use
11.3.7.2 China Generator Sets Market
11.3.7.2.1 China Generator Sets Market by Fuel Source
11.3.7.2.2 China Generator Sets Market by Power rating
11.3.7.2.3 China Generator Sets Market by Usage
11.3.7.2.4 China Generator Sets Market by End-Use
11.3.7.3 India Generator Sets Market
11.3.7.3.1 India Generator Sets Market by Fuel Source
11.3.7.3.2 India Generator Sets Market by Power rating
11.3.7.3.3 India Generator Sets Market by Usage
11.3.7.3.4 India Generator Sets Market by End-Use
11.3.7.4 Japan Generator Sets Market
11.3.7.4.1 Japan Generator Sets Market by Fuel Source
11.3.7.4.2 Japan Generator Sets Market by Power rating
11.3.7.4.3 Japan Generator Sets Market by Usage
11.3.7.4.4 Japan Generator Sets Market by End-Use
11.3.7.5 South Korea Generator Sets Market
11.3.7.5.1 South Korea Generator Sets Market by Fuel Source
11.3.7.5.2 South Korea Generator Sets Market by Power rating
11.3.7.5.3 South Korea Generator Sets Market by Usage
11.3.7.5.4 South Korea Generator Sets Market by End-Use
11.3.7.6 Rest of Asia-Pacific Generator Sets Market
11.3.7.6.1 Rest of Asia-Pacific Generator Sets Market by Fuel Source
11.3.7.6.2 Rest of Asia-Pacific Generator Sets Market by Power rating
11.3.7.6.3 Rest of Asia-Pacific Generator Sets Market by Usage
11.3.7.6.4 Rest of Asia-Pacific Generator Sets Market by End-Use
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Generator Sets Market Overview
11.4.2 Middle East and Africa Generator Sets Market Forecasts and Analysis
11.4.3 Middle East and Africa Generator Sets Market Forecasts and Analysis - By Fuel Source
11.4.4 Middle East and Africa Generator Sets Market Forecasts and Analysis - By Power rating
11.4.5 Middle East and Africa Generator Sets Market Forecasts and Analysis - By Usage
11.4.6 Middle East and Africa Generator Sets Market Forecasts and Analysis - By End-Use
11.4.7 Middle East and Africa Generator Sets Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Generator Sets Market
11.4.7.1.1 South Africa Generator Sets Market by Fuel Source
11.4.7.1.2 South Africa Generator Sets Market by Power rating
11.4.7.1.3 South Africa Generator Sets Market by Usage
11.4.7.1.4 South Africa Generator Sets Market by End-Use
11.4.7.2 Saudi Arabia Generator Sets Market
11.4.7.2.1 Saudi Arabia Generator Sets Market by Fuel Source
11.4.7.2.2 Saudi Arabia Generator Sets Market by Power rating
11.4.7.2.3 Saudi Arabia Generator Sets Market by Usage
11.4.7.2.4 Saudi Arabia Generator Sets Market by End-Use
11.4.7.3 U.A.E Generator Sets Market
11.4.7.3.1 U.A.E Generator Sets Market by Fuel Source
11.4.7.3.2 U.A.E Generator Sets Market by Power rating
11.4.7.3.3 U.A.E Generator Sets Market by Usage
11.4.7.3.4 U.A.E Generator Sets Market by End-Use
11.4.7.4 Rest of Middle East and Africa Generator Sets Market
11.4.7.4.1 Rest of Middle East and Africa Generator Sets Market by Fuel Source
11.4.7.4.2 Rest of Middle East and Africa Generator Sets Market by Power rating
11.4.7.4.3 Rest of Middle East and Africa Generator Sets Market by Usage
11.4.7.4.4 Rest of Middle East and Africa Generator Sets Market by End-Use
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Generator Sets Market Overview
11.5.2 South and Central America Generator Sets Market Forecasts and Analysis
11.5.3 South and Central America Generator Sets Market Forecasts and Analysis - By Fuel Source
11.5.4 South and Central America Generator Sets Market Forecasts and Analysis - By Power rating
11.5.5 South and Central America Generator Sets Market Forecasts and Analysis - By Usage
11.5.6 South and Central America Generator Sets Market Forecasts and Analysis - By End-Use
11.5.7 South and Central America Generator Sets Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Generator Sets Market
11.5.7.1.1 Brazil Generator Sets Market by Fuel Source
11.5.7.1.2 Brazil Generator Sets Market by Power rating
11.5.7.1.3 Brazil Generator Sets Market by Usage
11.5.7.1.4 Brazil Generator Sets Market by End-Use
11.5.7.2 Argentina Generator Sets Market
11.5.7.2.1 Argentina Generator Sets Market by Fuel Source
11.5.7.2.2 Argentina Generator Sets Market by Power rating
11.5.7.2.3 Argentina Generator Sets Market by Usage
11.5.7.2.4 Argentina Generator Sets Market by End-Use
11.5.7.3 Rest of South and Central America Generator Sets Market
11.5.7.3.1 Rest of South and Central America Generator Sets Market by Fuel Source
11.5.7.3.2 Rest of South and Central America Generator Sets Market by Power rating
11.5.7.3.3 Rest of South and Central America Generator Sets Market by Usage
11.5.7.3.4 Rest of South and Central America Generator Sets Market by End-Use
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. GENERATOR SETS MARKET, KEY COMPANY PROFILES
13.1. AKSA POWER GENERATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BRIGGS AND STRATTON CORPORATION
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. CATTERPILLAR, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CUMMINS, INC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. DOOSAN CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. GENERAC POWER SYSTEMS
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. HONDA POWER EQUIPMENT
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. INGERSOLL RAND
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. JOHN DEERE
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. KIRLOSKAR OIL ENGINES LIMITED
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. AKSA Power Generation
2. Briggs and Stratton Corporation
3. Catterpillar, Inc.
4. Cummins, Inc.
5. Doosan Corporation
6. Generac Power Systems
7. Honda Power Equipment
8. Ingersoll Rand
9. John Deere
10. Kirloskar Oil Engines Limited
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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