Geothermal Power and Heat Pump Market Dynamics 2021-2031
Geothermal power and heat pump is also known by ground source heat pump. It is a central water heating system which uses geothermal energy to heat water. Geothermal power and heat pump is energy-efficient and is largely used in number of applications such as harvested rainwater, recycled water, sewage treatment plant, surface water, and retention basin storm water. These geothermal power and heat pumps are cost-efficient and high performance in nature. For example, Nortek Global HVAC, a subsidiary of Nortek, Inc. introduced a new geothermal heat pump system in the market. It needs less drilling compared to other geothermal systems.
MARKET DYNAMICS
Consumers opt for cheap sources of energy owing to increasing electricity and oil prices. This is expected to drive the global market growth. Due to environmental benefits and cost saving benefits, geothermal power and heat pump market is anticipated to witness considerable growth in the near future. Government initiative to offer attractive benefits on installation of the system in newly built homes is also fuelling the global geothermal power and heat pump market. Conversely, fake estimation and faulty installations may restrain the global market growth in future.
MARKET SCOPE
The ˜Global Geothermal Power and Heat Pump Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the geothermal power and heat pump market with detailed market segmentation by product type, and application. The global geothermal power and heat pump market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading geothermal power and heat pump market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Product Type: On the basis of product type, the market is categorized into Closed Loop System and Open Loop System.
2. By Application: On the basis of application type, the market is categorized into Business, Household and Industrial Type.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The geothermal power and heat pump 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 geothermal power and heat pump market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the geothermal power and heat pump market in these regions.
IMPACT OF COVID 19
The outbreak of COVID-19 is expected to significantly impact the global geothermal power and heat pump market due to disruption in the international supply chain and a reduction in investment for the upcoming projects. Although annual additions correspond to the driven market, some projects are expected to be delayed due to COVID-19 related lockdown measures. Increasing electricity security concern owing to the clean and eco-friendly resources are driving the growth of the geothermal energy market.
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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 also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The geothermal power and heat pump 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 geothermal power and heat pump market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the geothermal power and heat pump market in these regions.
IMPACT OF COVID 19
The outbreak of COVID-19 is expected to significantly impact the global geothermal power and heat pump market due to disruption in the international supply chain and a reduction in investment for the upcoming projects. Although annual additions correspond to the driven market, some projects are expected to be delayed due to COVID-19 related lockdown measures. Increasing electricity security concern owing to the clean and eco-friendly resources are driving the growth of the geothermal energy market.
MARKET PLAYERS
The report covers vital developments in the geothermal power and heat pump 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 partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the geothermal power and heat pump market are anticipated to have lucrative growth opportunities in the future with the rising demand for geothermal power and heat pump in the global market. Below mentioned is the list of a few companies engaged in the geothermal power and heat pump market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the geothermal power and heat pump market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Altarock Energy
- Alstom
- Calpine
- Climatemaster
- Contact Energy
- Exorka
- Florida Heat Pumps
- GE(Baker Hughes)
- Geodynamics
- Geoglobal Energy
- Iceland America Energy
- Magma Energy
- Nevada Geothermal Power
- Ram Power
- 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
1.3.1Geothermal Power And Heat Pump Market - By Product Type
1.3.2Geothermal Power And Heat Pump Market - By Application
1.3.3Geothermal Power And Heat Pump Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.GEOTHERMAL POWER AND HEAT PUMP MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.GEOTHERMAL POWER AND HEAT PUMP 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.GEOTHERMAL POWER AND HEAT PUMP MARKET - GLOBAL MARKET ANALYSIS
6.1.GEOTHERMAL POWER AND HEAT PUMP - GLOBAL MARKET OVERVIEW
6.2.GEOTHERMAL POWER AND HEAT PUMP - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.GEOTHERMAL POWER AND HEAT PUMP MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3.CLOSED LOOP SYSTEM
7.3.1.Overview
7.3.2.Closed Loop System Market Forecast and Analysis
7.4.OPEN LOOP SYSTEM.
7.4.1.Overview
7.4.2.Open Loop System. Market Forecast and Analysis
8.GEOTHERMAL POWER AND HEAT PUMP MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.BUSINESS
8.3.1.Overview
8.3.2.Business Market Forecast and Analysis
8.4.HOUSEHOLD
8.4.1.Overview
8.4.2.Household Market Forecast and Analysis
8.5.INDUSTRIAL
8.5.1.Overview
8.5.2.Industrial Market Forecast and Analysis
9.GEOTHERMAL POWER AND HEAT PUMP MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Geothermal Power And Heat Pump Market Overview
9.1.2North America Geothermal Power And Heat Pump Market Forecasts and Analysis
9.1.3North America Geothermal Power And Heat Pump Market Forecasts and Analysis - By Product Type
9.1.4North America Geothermal Power And Heat Pump Market Forecasts and Analysis - By Application
9.1.5North America Geothermal Power And Heat Pump Market Forecasts and Analysis - By Countries
9.1.5.1United States Geothermal Power And Heat Pump Market
9.1.5.1.1United States Geothermal Power And Heat Pump Market by Product Type
9.1.5.1.2United States Geothermal Power And Heat Pump Market by Application
9.1.5.2Canada Geothermal Power And Heat Pump Market
9.1.5.2.1Canada Geothermal Power And Heat Pump Market by Product Type
9.1.5.2.2Canada Geothermal Power And Heat Pump Market by Application
9.1.5.3Mexico Geothermal Power And Heat Pump Market
9.1.5.3.1Mexico Geothermal Power And Heat Pump Market by Product Type
9.1.5.3.2Mexico Geothermal Power And Heat Pump Market by Application
9.2.EUROPE
9.2.1Europe Geothermal Power And Heat Pump Market Overview
9.2.2Europe Geothermal Power And Heat Pump Market Forecasts and Analysis
9.2.3Europe Geothermal Power And Heat Pump Market Forecasts and Analysis - By Product Type
9.2.4Europe Geothermal Power And Heat Pump Market Forecasts and Analysis - By Application
9.2.5Europe Geothermal Power And Heat Pump Market Forecasts and Analysis - By Countries
9.2.5.1Germany Geothermal Power And Heat Pump Market
9.2.5.1.1Germany Geothermal Power And Heat Pump Market by Product Type
9.2.5.1.2Germany Geothermal Power And Heat Pump Market by Application
9.2.5.2France Geothermal Power And Heat Pump Market
9.2.5.2.1France Geothermal Power And Heat Pump Market by Product Type
9.2.5.2.2France Geothermal Power And Heat Pump Market by Application
9.2.5.3Italy Geothermal Power And Heat Pump Market
9.2.5.3.1Italy Geothermal Power And Heat Pump Market by Product Type
9.2.5.3.2Italy Geothermal Power And Heat Pump Market by Application
9.2.5.4Spain Geothermal Power And Heat Pump Market
9.2.5.4.1Spain Geothermal Power And Heat Pump Market by Product Type
9.2.5.4.2Spain Geothermal Power And Heat Pump Market by Application
9.2.5.5United Kingdom Geothermal Power And Heat Pump Market
9.2.5.5.1United Kingdom Geothermal Power And Heat Pump Market by Product Type
9.2.5.5.2United Kingdom Geothermal Power And Heat Pump Market by Application
9.2.5.6Russia Geothermal Power And Heat Pump Market
9.2.5.6.1Russia Geothermal Power And Heat Pump Market by Product Type
9.2.5.6.2Russia Geothermal Power And Heat Pump Market by Application
9.2.5.7Rest of Europe Geothermal Power And Heat Pump Market
9.2.5.7.1Rest of Europe Geothermal Power And Heat Pump Market by Product Type
9.2.5.7.2Rest of Europe Geothermal Power And Heat Pump Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Geothermal Power And Heat Pump Market Overview
9.3.2Asia-Pacific Geothermal Power And Heat Pump Market Forecasts and Analysis
9.3.3Asia-Pacific Geothermal Power And Heat Pump Market Forecasts and Analysis - By Product Type
9.3.4Asia-Pacific Geothermal Power And Heat Pump Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Geothermal Power And Heat Pump Market Forecasts and Analysis - By Countries
9.3.5.1Australia Geothermal Power And Heat Pump Market
9.3.5.1.1Australia Geothermal Power And Heat Pump Market by Product Type
9.3.5.1.2Australia Geothermal Power And Heat Pump Market by Application
9.3.5.2China Geothermal Power And Heat Pump Market
9.3.5.2.1China Geothermal Power And Heat Pump Market by Product Type
9.3.5.2.2China Geothermal Power And Heat Pump Market by Application
9.3.5.3India Geothermal Power And Heat Pump Market
9.3.5.3.1India Geothermal Power And Heat Pump Market by Product Type
9.3.5.3.2India Geothermal Power And Heat Pump Market by Application
9.3.5.4Japan Geothermal Power And Heat Pump Market
9.3.5.4.1Japan Geothermal Power And Heat Pump Market by Product Type
9.3.5.4.2Japan Geothermal Power And Heat Pump Market by Application
9.3.5.5South Korea Geothermal Power And Heat Pump Market
9.3.5.5.1South Korea Geothermal Power And Heat Pump Market by Product Type
9.3.5.5.2South Korea Geothermal Power And Heat Pump Market by Application
9.3.5.6Rest of Asia-Pacific Geothermal Power And Heat Pump Market
9.3.5.6.1Rest of Asia-Pacific Geothermal Power And Heat Pump Market by Product Type
9.3.5.6.2Rest of Asia-Pacific Geothermal Power And Heat Pump Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Geothermal Power And Heat Pump Market Overview
9.4.2Middle East and Africa Geothermal Power And Heat Pump Market Forecasts and Analysis
9.4.3Middle East and Africa Geothermal Power And Heat Pump Market Forecasts and Analysis - By Product Type
9.4.4Middle East and Africa Geothermal Power And Heat Pump Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Geothermal Power And Heat Pump Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Geothermal Power And Heat Pump Market
9.4.5.1.1South Africa Geothermal Power And Heat Pump Market by Product Type
9.4.5.1.2South Africa Geothermal Power And Heat Pump Market by Application
9.4.5.2Saudi Arabia Geothermal Power And Heat Pump Market
9.4.5.2.1Saudi Arabia Geothermal Power And Heat Pump Market by Product Type
9.4.5.2.2Saudi Arabia Geothermal Power And Heat Pump Market by Application
9.4.5.3U.A.E Geothermal Power And Heat Pump Market
9.4.5.3.1U.A.E Geothermal Power And Heat Pump Market by Product Type
9.4.5.3.2U.A.E Geothermal Power And Heat Pump Market by Application
9.4.5.4Rest of Middle East and Africa Geothermal Power And Heat Pump Market
9.4.5.4.1Rest of Middle East and Africa Geothermal Power And Heat Pump Market by Product Type
9.4.5.4.2Rest of Middle East and Africa Geothermal Power And Heat Pump Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Geothermal Power And Heat Pump Market Overview
9.5.2South and Central America Geothermal Power And Heat Pump Market Forecasts and Analysis
9.5.3South and Central America Geothermal Power And Heat Pump Market Forecasts and Analysis - By Product Type
9.5.4South and Central America Geothermal Power And Heat Pump Market Forecasts and Analysis - By Application
9.5.5South and Central America Geothermal Power And Heat Pump Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Geothermal Power And Heat Pump Market
9.5.5.1.1Brazil Geothermal Power And Heat Pump Market by Product Type
9.5.5.1.2Brazil Geothermal Power And Heat Pump Market by Application
9.5.5.2Argentina Geothermal Power And Heat Pump Market
9.5.5.2.1Argentina Geothermal Power And Heat Pump Market by Product Type
9.5.5.2.2Argentina Geothermal Power And Heat Pump Market by Application
9.5.5.3Rest of South and Central America Geothermal Power And Heat Pump Market
9.5.5.3.1Rest of South and Central America Geothermal Power And Heat Pump Market by Product Type
9.5.5.3.2Rest of South and Central America Geothermal Power And Heat Pump 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.GEOTHERMAL POWER AND HEAT PUMP MARKET, KEY COMPANY PROFILES
11.1.ALTAROCK ENERGY
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.ALSTOM
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.CALPINE
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.CLIMATEMASTER
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.CONTACT ENERGY
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.EXORKA
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.FLORIDA HEAT PUMPS
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.GE(BAKER HUGHES)
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.GEODYNAMICS
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.GEOGLOBAL ENERGY
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
11.11.ICELAND AMERICA ENERGY
11.11.1.Key Facts
11.11.2.Business Description
11.11.3.Products and Services
11.11.4.Financial Overview
11.11.5.SWOT Analysis
11.11.6.Key Developments
11.12.MAGMA ENERGY
11.12.1.Key Facts
11.12.2.Business Description
11.12.3.Products and Services
11.12.4.Financial Overview
11.12.5.SWOT Analysis
11.12.6.Key Developments
11.13.NEVADA GEOTHERMAL POWER
11.13.1.Key Facts
11.13.2.Business Description
11.13.3.Products and Services
11.13.4.Financial Overview
11.13.5.SWOT Analysis
11.13.6.Key Developments
11.14.RAM POWER
11.14.1.Key Facts
11.14.2.Business Description
11.14.3.Products and Services
11.14.4.Financial Overview
11.14.5.SWOT Analysis
11.14.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1.Altarock Energy
2.Alstom
3.Calpine
4.Climatemaster
5.Contact Energy
6.Exorka
7.Florida Heat Pumps
8.GE(Baker Hughes)
9.Geodynamics
10.Geoglobal Energy
11.Iceland America Energy
12.Magma Energy
13.Nevada Geothermal Power
14.Ram Power
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.
Get Free Sample For