Ground Support Equipment Market Key Players Analysis 2031
Ground support equipment are the equipment installed at the airports for the purpose of providing maintenance and other aircraft related services and passenger & cargo transport within the airport. GSE are electric, non-electric, and hybrid. The equipment such as ground power units, deicers, fuel trucks, hydrant trucks, and others are installed to serve the purpose of aircraft handling. Further, GSE including cabin service vehicles, passenger bus, loaders/conveyors, lavatory service equipment, and others are used for passenger handling. Likewise, pushback tractors, forklifts, loaders, and other equipment are deployed for cargo handling application.
MARKET SCOPE
The "Global Ground Support Equipment Market Analysis to 2031" is a specialized and in-depth study of the Ground Support Equipment market with a special focus on the global market trend analysis. The report aims to provide an overview of Ground Support Equipment market with detailed market segmentation by equipment, power source, application, and geography. The global Ground Support Equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Ground Support Equipment market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on equipment, the market is segmented into tugs and tractors, ground power unit, hydraulic power unit, aircraft jacks, belt loader, de-iceing vehicles, and others.
- Based on power source, the market is segmented as electric and non-electric.
- Based on application, the market can be bifurcated into business aviation and military aviation.
MARKET DYNAMICS
Drivers:
- increasing number of airports
- Advancements in technology, growing need for operational efficiency, and compactness.
Restraints:
- high initial investments
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 Ground Support Equipment 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 Ground Support Equipment 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 Ground Support Equipment 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 Porter's five forces analysis highlighting factors affecting the Ground Support Equipment market in these regions.
IMPACT OF COVID-19 ON GROUND SUPPORT EQUIPMENT MARKET
The COVID-19 pandemic has led to one of the biggest challenges to the sustainability of the aviation industry at the global level. There is a tremendous shift in the airport operations and several other passenger processing changes due to the fast-spreading nature of this disease. The aviation industry, particularly the airport sector, is focusing on providing the passenger a different quality level of service in comparison to the previous norms. There is a steep fall in demand for air transport as a result of the cross-border travel restrictions imposed by governments to restrict the virus's transmission. Many steps have been taken by air companies and the International Air Transport Association (IATA) to prevent the spread of COVID-19. According to IATA, flights are categorized into three levels: (1) high-risk flights, (2) medium-risk flights, and (3) low-risk flights, and differentiated prevention and control measures are applied after a comprehensive evaluation of the outbreak at the place of origin of the flights. Thus, the airport management is bound to be more proactive and capable of implementing digital transformation to ensure the passengers safe and healthy air travel. Therefore, though there has been a slowdown in the growth of Ground Support Equipment market due to the impact of COVID-19, the changes and shifts in airport management due to the "new normal" will bolster the growth of Ground Support Equipment 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 provides overview and forecast of the global Ground Support Equipment 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 Ground Support Equipment 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 Ground Support Equipment 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 Porter's five forces analysis highlighting factors affecting the Ground Support Equipment market in these regions.
IMPACT OF COVID-19 ON GROUND SUPPORT EQUIPMENT MARKET
The COVID-19 pandemic has led to one of the biggest challenges to the sustainability of the aviation industry at the global level. There is a tremendous shift in the airport operations and several other passenger processing changes due to the fast-spreading nature of this disease. The aviation industry, particularly the airport sector, is focusing on providing the passenger a different quality level of service in comparison to the previous norms. There is a steep fall in demand for air transport as a result of the cross-border travel restrictions imposed by governments to restrict the virus's transmission. Many steps have been taken by air companies and the International Air Transport Association (IATA) to prevent the spread of COVID-19. According to IATA, flights are categorized into three levels: (1) high-risk flights, (2) medium-risk flights, and (3) low-risk flights, and differentiated prevention and control measures are applied after a comprehensive evaluation of the outbreak at the place of origin of the flights. Thus, the airport management is bound to be more proactive and capable of implementing digital transformation to ensure the passengers safe and healthy air travel. Therefore, though there has been a slowdown in the growth of Ground Support Equipment market due to the impact of COVID-19, the changes and shifts in airport management due to the "new normal" will bolster the growth of Ground Support Equipment market.
MARKET PLAYERS
The reports cover key developments in the Ground Support Equipment 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 Ground Support Equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for Ground Support Equipment market. Below mentioned is the list of few companies engaged in the Ground Support Equipment market.
The report also includes the profiles of key Ground Support Equipment 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.
- JBT Corporation
- Tug Technologies Corporation
- Tronair Inc.
- Gate GSE
- Mallaghan
- Weihai Guangtai Airports Equipment Co. Ltd.
- Cavotec SA
- Douglas Equipment Ltd.
- Aero Specialties, Inc.
- Flightline Support Ltd.
- 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 Ground Support Equipment Market - By Equipment
1.3.2 Ground Support Equipment Market - By Power Source
1.3.3 Ground Support Equipment Market - By Application
1.3.4 Ground Support Equipment Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GROUND SUPPORT EQUIPMENT 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. GROUND SUPPORT EQUIPMENT 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. GROUND SUPPORT EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. GROUND SUPPORT EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. GROUND SUPPORT EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. GROUND SUPPORT EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - EQUIPMENT
7.1. OVERVIEW
7.2. EQUIPMENT MARKET FORECASTS AND ANALYSIS
7.3. TUGS AND TRACTORS
7.3.1. Overview
7.3.2. Tugs and Tractors Market Forecast and Analysis
7.4. GROUND POWER UNIT
7.4.1. Overview
7.4.2. Ground Power Unit Market Forecast and Analysis
7.5. HYDRAULIC POWER UNIT
7.5.1. Overview
7.5.2. Hydraulic Power Unit Market Forecast and Analysis
7.6. AIRCRAFT JACKS
7.6.1. Overview
7.6.2. Aircraft Jacks Market Forecast and Analysis
7.7. BELT LOADER
7.7.1. Overview
7.7.2. Belt Loader Market Forecast and Analysis
7.8. DE-ICEING VEHICLES
7.8.1. Overview
7.8.2. De-iceing Vehicles Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. GROUND SUPPORT EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - POWER SOURCE
8.1. OVERVIEW
8.2. POWER SOURCE MARKET FORECASTS AND ANALYSIS
8.3. ELECTRIC
8.3.1. Overview
8.3.2. Electric Market Forecast and Analysis
8.4. NON-ELECTRIC
8.4.1. Overview
8.4.2. Non-electric Market Forecast and Analysis
9. GROUND SUPPORT EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. BUSINESS AVIATION
9.3.1. Overview
9.3.2. Business Aviation Market Forecast and Analysis
9.4. MILITARY AVIATION
9.4.1. Overview
9.4.2. Military Aviation Market Forecast and Analysis
9.5. COMMERCIAL AVIATION
9.5.1. Overview
9.5.2. Commercial Aviation Market Forecast and Analysis
10. GROUND SUPPORT EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Ground Support Equipment Market Overview
10.1.2 North America Ground Support Equipment Market Forecasts and Analysis
10.1.3 North America Ground Support Equipment Market Forecasts and Analysis - By Equipment
10.1.4 North America Ground Support Equipment Market Forecasts and Analysis - By Power Source
10.1.5 North America Ground Support Equipment Market Forecasts and Analysis - By Application
10.1.6 North America Ground Support Equipment Market Forecasts and Analysis - By Countries
10.1.6.1 United States Ground Support Equipment Market
10.1.6.1.1 United States Ground Support Equipment Market by Equipment
10.1.6.1.2 United States Ground Support Equipment Market by Power Source
10.1.6.1.3 United States Ground Support Equipment Market by Application
10.1.6.2 Canada Ground Support Equipment Market
10.1.6.2.1 Canada Ground Support Equipment Market by Equipment
10.1.6.2.2 Canada Ground Support Equipment Market by Power Source
10.1.6.2.3 Canada Ground Support Equipment Market by Application
10.1.6.3 Mexico Ground Support Equipment Market
10.1.6.3.1 Mexico Ground Support Equipment Market by Equipment
10.1.6.3.2 Mexico Ground Support Equipment Market by Power Source
10.1.6.3.3 Mexico Ground Support Equipment Market by Application
10.2. EUROPE
10.2.1 Europe Ground Support Equipment Market Overview
10.2.2 Europe Ground Support Equipment Market Forecasts and Analysis
10.2.3 Europe Ground Support Equipment Market Forecasts and Analysis - By Equipment
10.2.4 Europe Ground Support Equipment Market Forecasts and Analysis - By Power Source
10.2.5 Europe Ground Support Equipment Market Forecasts and Analysis - By Application
10.2.6 Europe Ground Support Equipment Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Ground Support Equipment Market
10.2.6.1.1 Germany Ground Support Equipment Market by Equipment
10.2.6.1.2 Germany Ground Support Equipment Market by Power Source
10.2.6.1.3 Germany Ground Support Equipment Market by Application
10.2.6.2 France Ground Support Equipment Market
10.2.6.2.1 France Ground Support Equipment Market by Equipment
10.2.6.2.2 France Ground Support Equipment Market by Power Source
10.2.6.2.3 France Ground Support Equipment Market by Application
10.2.6.3 Italy Ground Support Equipment Market
10.2.6.3.1 Italy Ground Support Equipment Market by Equipment
10.2.6.3.2 Italy Ground Support Equipment Market by Power Source
10.2.6.3.3 Italy Ground Support Equipment Market by Application
10.2.6.4 United Kingdom Ground Support Equipment Market
10.2.6.4.1 United Kingdom Ground Support Equipment Market by Equipment
10.2.6.4.2 United Kingdom Ground Support Equipment Market by Power Source
10.2.6.4.3 United Kingdom Ground Support Equipment Market by Application
10.2.6.5 Russia Ground Support Equipment Market
10.2.6.5.1 Russia Ground Support Equipment Market by Equipment
10.2.6.5.2 Russia Ground Support Equipment Market by Power Source
10.2.6.5.3 Russia Ground Support Equipment Market by Application
10.2.6.6 Rest of Europe Ground Support Equipment Market
10.2.6.6.1 Rest of Europe Ground Support Equipment Market by Equipment
10.2.6.6.2 Rest of Europe Ground Support Equipment Market by Power Source
10.2.6.6.3 Rest of Europe Ground Support Equipment Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Ground Support Equipment Market Overview
10.3.2 Asia-Pacific Ground Support Equipment Market Forecasts and Analysis
10.3.3 Asia-Pacific Ground Support Equipment Market Forecasts and Analysis - By Equipment
10.3.4 Asia-Pacific Ground Support Equipment Market Forecasts and Analysis - By Power Source
10.3.5 Asia-Pacific Ground Support Equipment Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Ground Support Equipment Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Ground Support Equipment Market
10.3.6.1.1 Australia Ground Support Equipment Market by Equipment
10.3.6.1.2 Australia Ground Support Equipment Market by Power Source
10.3.6.1.3 Australia Ground Support Equipment Market by Application
10.3.6.2 China Ground Support Equipment Market
10.3.6.2.1 China Ground Support Equipment Market by Equipment
10.3.6.2.2 China Ground Support Equipment Market by Power Source
10.3.6.2.3 China Ground Support Equipment Market by Application
10.3.6.3 India Ground Support Equipment Market
10.3.6.3.1 India Ground Support Equipment Market by Equipment
10.3.6.3.2 India Ground Support Equipment Market by Power Source
10.3.6.3.3 India Ground Support Equipment Market by Application
10.3.6.4 Japan Ground Support Equipment Market
10.3.6.4.1 Japan Ground Support Equipment Market by Equipment
10.3.6.4.2 Japan Ground Support Equipment Market by Power Source
10.3.6.4.3 Japan Ground Support Equipment Market by Application
10.3.6.5 South Korea Ground Support Equipment Market
10.3.6.5.1 South Korea Ground Support Equipment Market by Equipment
10.3.6.5.2 South Korea Ground Support Equipment Market by Power Source
10.3.6.5.3 South Korea Ground Support Equipment Market by Application
10.3.6.6 Rest of Asia-Pacific Ground Support Equipment Market
10.3.6.6.1 Rest of Asia-Pacific Ground Support Equipment Market by Equipment
10.3.6.6.2 Rest of Asia-Pacific Ground Support Equipment Market by Power Source
10.3.6.6.3 Rest of Asia-Pacific Ground Support Equipment Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Ground Support Equipment Market Overview
10.4.2 Middle East and Africa Ground Support Equipment Market Forecasts and Analysis
10.4.3 Middle East and Africa Ground Support Equipment Market Forecasts and Analysis - By Equipment
10.4.4 Middle East and Africa Ground Support Equipment Market Forecasts and Analysis - By Power Source
10.4.5 Middle East and Africa Ground Support Equipment Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Ground Support Equipment Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Ground Support Equipment Market
10.4.6.1.1 South Africa Ground Support Equipment Market by Equipment
10.4.6.1.2 South Africa Ground Support Equipment Market by Power Source
10.4.6.1.3 South Africa Ground Support Equipment Market by Application
10.4.6.2 Saudi Arabia Ground Support Equipment Market
10.4.6.2.1 Saudi Arabia Ground Support Equipment Market by Equipment
10.4.6.2.2 Saudi Arabia Ground Support Equipment Market by Power Source
10.4.6.2.3 Saudi Arabia Ground Support Equipment Market by Application
10.4.6.3 U.A.E Ground Support Equipment Market
10.4.6.3.1 U.A.E Ground Support Equipment Market by Equipment
10.4.6.3.2 U.A.E Ground Support Equipment Market by Power Source
10.4.6.3.3 U.A.E Ground Support Equipment Market by Application
10.4.6.4 Rest of Middle East and Africa Ground Support Equipment Market
10.4.6.4.1 Rest of Middle East and Africa Ground Support Equipment Market by Equipment
10.4.6.4.2 Rest of Middle East and Africa Ground Support Equipment Market by Power Source
10.4.6.4.3 Rest of Middle East and Africa Ground Support Equipment Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Ground Support Equipment Market Overview
10.5.2 South and Central America Ground Support Equipment Market Forecasts and Analysis
10.5.3 South and Central America Ground Support Equipment Market Forecasts and Analysis - By Equipment
10.5.4 South and Central America Ground Support Equipment Market Forecasts and Analysis - By Power Source
10.5.5 South and Central America Ground Support Equipment Market Forecasts and Analysis - By Application
10.5.6 South and Central America Ground Support Equipment Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Ground Support Equipment Market
10.5.6.1.1 Brazil Ground Support Equipment Market by Equipment
10.5.6.1.2 Brazil Ground Support Equipment Market by Power Source
10.5.6.1.3 Brazil Ground Support Equipment Market by Application
10.5.6.2 Rest of South and Central America Ground Support Equipment Market
10.5.6.2.1 Rest of South and Central America Ground Support Equipment Market by Equipment
10.5.6.2.2 Rest of South and Central America Ground Support Equipment Market by Power Source
10.5.6.2.3 Rest of South and Central America Ground Support Equipment 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. GROUND SUPPORT EQUIPMENT MARKET, KEY COMPANY PROFILES
12.1. AERO SPECIALTIES, INC.
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. AVRO GSE
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. HYDRO SYSTEMS KG
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. ITW GSE
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. JMS AG JET MAINTENANCE AND SERVICE
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. LEKTRO, 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. MEYER HYDRAULICS CORPORATION
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. MRCCS
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. TOWFLEXX 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. TRONAIR
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. AERO SPECIALTIES, INC.
2. Avro GSE
3. HYDRO SYSTEMS KG
4. ITW GSE
5. JMS AG Jet Maintenance and Service
6. LEKTRO, Inc
7. Meyer Hydraulics Corporation
8. MRCCS
9. TowFLEXX Inc.
10. Tronair
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