HVAC Variable Frequency Drive Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
A variable frequency drive (VFD) is an engine regulator used to drive an electric motor by fluctuating the voltage and frequency of its power supply. Variable frequency drives take in a steady AC Voltage and afrequency information and afterward electronically create a variable voltage frequency to drive an Induction motor situated in a warming, ventilation and cooling (HVAC) system. Central air variables frequency drives are utilized in a wide scope of applications, For example, process blowers, transports, coolers etc.
MARKET DYNAMICS
The HVAC Variable frequency drive market is quickly developing across the globe because of its great actual properties, for example, Energy saving, further developing framework effectiveness, upgrading the work space, and decreasing mechanical weight on machines to expand their lifetime, and the induction motor size.
MARKET SCOPE
The "Global HVAC Variable Frequency Drives Market Analysis to 2031" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on global market trend analysis. The report aims to provide an overview of the HVAC Variable Frequency Drives Market with detailed market segmentation - type, power range, end-user, and geography. The global HVAC Variable Frequency Drives Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading HVAC Variable Frequency Drives Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
IMPACT OF COVID-19 ON HVAC VARIABLE FREQUENCY DRIVES MARKET
The COVID-19 pandemic has seriously affected the development of the worldwide HVAC VFD Market. The emergency developed by the explosion of this worldwide contamination issue has conveyed each country in a remarkable circumstances. Different variables, such as reduced demand and on going value wars, have affected the financial health of few businesses. The diminishing in the quantity of new development projects and the brief closure of assembling enterprises and business spaces overall factors hampered the market development. However, things are coming back on track, the market is expected to rise again during forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global HVAC Variable Frequency Drives Market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America (SAM). The HVAC Variable Frequency Drives 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 HVAC Variable Frequency Drives Market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the HVAC Variable Frequency Drives Market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global HVAC Variable Frequency Drives Market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America (SAM). The HVAC Variable Frequency Drives 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 HVAC Variable Frequency Drives Market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the HVAC Variable Frequency Drives Market in these regions.
MARKET PLAYERS
The reports cover key developments in the HVAC Variable Frequency Drives 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 & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market payers from HVAC Variable Frequency Drives Market are anticipated to lucrative growth opportunities in the future with the rising demand for HVAC Variable Frequency Drives Market in the global market. Below mentioned is the list of a few companies engaged in the HVAC Variable Frequency Drives Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the HVAC Variable Frequency Drives Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
1. ABB Ltd.
2. Siemens AG
3. Rockwell Automation, Inc.
4. Mitsubishi Electric Co.
5. Danfoss
6. TCI,LLC
7. L/C Manetics
8. Hammond Power Solutions
9. RoMan Manufacturing, Inc.
10. Yaskawa Electric Corp.
- 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 HVAC Variable Frequency Drive Market - By Type
1.3.2 HVAC Variable Frequency Drive Market - By Power Range
1.3.3 HVAC Variable Frequency Drive Market - By End User
1.3.4 HVAC Variable Frequency Drive Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HVAC VARIABLE FREQUENCY DRIVE 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. HVAC VARIABLE FREQUENCY DRIVE 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. HVAC VARIABLE FREQUENCY DRIVE MARKET - GLOBAL MARKET ANALYSIS
6.1. HVAC VARIABLE FREQUENCY DRIVE - GLOBAL MARKET OVERVIEW
6.2. HVAC VARIABLE FREQUENCY DRIVE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. HVAC VARIABLE FREQUENCY DRIVE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. AC DRIVE
7.3.1. Overview
7.3.2. AC Drive Market Forecast and Analysis
7.4. DC DRIVE
7.4.1. Overview
7.4.2. DC Drive Market Forecast and Analysis
7.5. SERVO TYPE
7.5.1. Overview
7.5.2. Servo Type Market Forecast and Analysis
8. HVAC VARIABLE FREQUENCY DRIVE MARKET - REVENUE AND FORECASTS TO 2028 - POWER RANGE
8.1. OVERVIEW
8.2. POWER RANGE MARKET FORECASTS AND ANALYSIS
8.3. MICRO
8.3.1. Overview
8.3.2. Micro Market Forecast and Analysis
8.4. LOW
8.4.1. Overview
8.4.2. Low Market Forecast and Analysis
8.5. MEDIUM
8.5.1. Overview
8.5.2. Medium Market Forecast and Analysis
8.6. HIGH
8.6.1. Overview
8.6.2. High Market Forecast and Analysis
9. HVAC VARIABLE FREQUENCY DRIVE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
10. HVAC VARIABLE FREQUENCY DRIVE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America HVAC Variable Frequency Drive Market Overview
10.1.2 North America HVAC Variable Frequency Drive Market Forecasts and Analysis
10.1.3 North America HVAC Variable Frequency Drive Market Forecasts and Analysis - By Type
10.1.4 North America HVAC Variable Frequency Drive Market Forecasts and Analysis - By Power Range
10.1.5 North America HVAC Variable Frequency Drive Market Forecasts and Analysis - By End User
10.1.6 North America HVAC Variable Frequency Drive Market Forecasts and Analysis - By Countries
10.1.6.1 United States HVAC Variable Frequency Drive Market
10.1.6.1.1 United States HVAC Variable Frequency Drive Market by Type
10.1.6.1.2 United States HVAC Variable Frequency Drive Market by Power Range
10.1.6.1.3 United States HVAC Variable Frequency Drive Market by End User
10.1.6.2 Canada HVAC Variable Frequency Drive Market
10.1.6.2.1 Canada HVAC Variable Frequency Drive Market by Type
10.1.6.2.2 Canada HVAC Variable Frequency Drive Market by Power Range
10.1.6.2.3 Canada HVAC Variable Frequency Drive Market by End User
10.1.6.3 Mexico HVAC Variable Frequency Drive Market
10.1.6.3.1 Mexico HVAC Variable Frequency Drive Market by Type
10.1.6.3.2 Mexico HVAC Variable Frequency Drive Market by Power Range
10.1.6.3.3 Mexico HVAC Variable Frequency Drive Market by End User
10.2. EUROPE
10.2.1 Europe HVAC Variable Frequency Drive Market Overview
10.2.2 Europe HVAC Variable Frequency Drive Market Forecasts and Analysis
10.2.3 Europe HVAC Variable Frequency Drive Market Forecasts and Analysis - By Type
10.2.4 Europe HVAC Variable Frequency Drive Market Forecasts and Analysis - By Power Range
10.2.5 Europe HVAC Variable Frequency Drive Market Forecasts and Analysis - By End User
10.2.6 Europe HVAC Variable Frequency Drive Market Forecasts and Analysis - By Countries
10.2.6.1 Germany HVAC Variable Frequency Drive Market
10.2.6.1.1 Germany HVAC Variable Frequency Drive Market by Type
10.2.6.1.2 Germany HVAC Variable Frequency Drive Market by Power Range
10.2.6.1.3 Germany HVAC Variable Frequency Drive Market by End User
10.2.6.2 France HVAC Variable Frequency Drive Market
10.2.6.2.1 France HVAC Variable Frequency Drive Market by Type
10.2.6.2.2 France HVAC Variable Frequency Drive Market by Power Range
10.2.6.2.3 France HVAC Variable Frequency Drive Market by End User
10.2.6.3 Italy HVAC Variable Frequency Drive Market
10.2.6.3.1 Italy HVAC Variable Frequency Drive Market by Type
10.2.6.3.2 Italy HVAC Variable Frequency Drive Market by Power Range
10.2.6.3.3 Italy HVAC Variable Frequency Drive Market by End User
10.2.6.4 United Kingdom HVAC Variable Frequency Drive Market
10.2.6.4.1 United Kingdom HVAC Variable Frequency Drive Market by Type
10.2.6.4.2 United Kingdom HVAC Variable Frequency Drive Market by Power Range
10.2.6.4.3 United Kingdom HVAC Variable Frequency Drive Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific HVAC Variable Frequency Drive Market Overview
10.3.2 Asia-Pacific HVAC Variable Frequency Drive Market Forecasts and Analysis
10.3.3 Asia-Pacific HVAC Variable Frequency Drive Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific HVAC Variable Frequency Drive Market Forecasts and Analysis - By Power Range
10.3.5 Asia-Pacific HVAC Variable Frequency Drive Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific HVAC Variable Frequency Drive Market Forecasts and Analysis - By Countries
10.3.6.1 Australia HVAC Variable Frequency Drive Market
10.3.6.1.1 Australia HVAC Variable Frequency Drive Market by Type
10.3.6.1.2 Australia HVAC Variable Frequency Drive Market by Power Range
10.3.6.1.3 Australia HVAC Variable Frequency Drive Market by End User
10.3.6.2 China HVAC Variable Frequency Drive Market
10.3.6.2.1 China HVAC Variable Frequency Drive Market by Type
10.3.6.2.2 China HVAC Variable Frequency Drive Market by Power Range
10.3.6.2.3 China HVAC Variable Frequency Drive Market by End User
10.3.6.3 India HVAC Variable Frequency Drive Market
10.3.6.3.1 India HVAC Variable Frequency Drive Market by Type
10.3.6.3.2 India HVAC Variable Frequency Drive Market by Power Range
10.3.6.3.3 India HVAC Variable Frequency Drive Market by End User
10.3.6.4 Japan HVAC Variable Frequency Drive Market
10.3.6.4.1 Japan HVAC Variable Frequency Drive Market by Type
10.3.6.4.2 Japan HVAC Variable Frequency Drive Market by Power Range
10.3.6.4.3 Japan HVAC Variable Frequency Drive Market by End User
10.3.6.5 Rest of Asia-Pacific HVAC Variable Frequency Drive Market
10.3.6.5.1 Rest of Asia-Pacific HVAC Variable Frequency Drive Market by Type
10.3.6.5.2 Rest of Asia-Pacific HVAC Variable Frequency Drive Market by Power Range
10.3.6.5.3 Rest of Asia-Pacific HVAC Variable Frequency Drive Market by End User
10.3.6.6 Rest of SouthEast Asia HVAC Variable Frequency Drive Market
10.3.6.6.1 Rest of SouthEast Asia HVAC Variable Frequency Drive Market by Type
10.3.6.6.2 Rest of SouthEast Asia HVAC Variable Frequency Drive Market by Power Range
10.3.6.6.3 Rest of SouthEast Asia HVAC Variable Frequency Drive Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa HVAC Variable Frequency Drive Market Overview
10.4.2 Middle East and Africa HVAC Variable Frequency Drive Market Forecasts and Analysis
10.4.3 Middle East and Africa HVAC Variable Frequency Drive Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa HVAC Variable Frequency Drive Market Forecasts and Analysis - By Power Range
10.4.5 Middle East and Africa HVAC Variable Frequency Drive Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa HVAC Variable Frequency Drive Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa HVAC Variable Frequency Drive Market
10.4.6.1.1 South Africa HVAC Variable Frequency Drive Market by Type
10.4.6.1.2 South Africa HVAC Variable Frequency Drive Market by Power Range
10.4.6.1.3 South Africa HVAC Variable Frequency Drive Market by End User
10.4.6.2 Saudi Arabia HVAC Variable Frequency Drive Market
10.4.6.2.1 Saudi Arabia HVAC Variable Frequency Drive Market by Type
10.4.6.2.2 Saudi Arabia HVAC Variable Frequency Drive Market by Power Range
10.4.6.2.3 Saudi Arabia HVAC Variable Frequency Drive Market by End User
10.4.6.3 U.A.E HVAC Variable Frequency Drive Market
10.4.6.3.1 U.A.E HVAC Variable Frequency Drive Market by Type
10.4.6.3.2 U.A.E HVAC Variable Frequency Drive Market by Power Range
10.4.6.3.3 U.A.E HVAC Variable Frequency Drive Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America HVAC Variable Frequency Drive Market Overview
10.5.2 South and Central America HVAC Variable Frequency Drive Market Forecasts and Analysis
10.5.3 South and Central America HVAC Variable Frequency Drive Market Forecasts and Analysis - By Type
10.5.4 South and Central America HVAC Variable Frequency Drive Market Forecasts and Analysis - By Power Range
10.5.5 South and Central America HVAC Variable Frequency Drive Market Forecasts and Analysis - By End User
10.5.6 South and Central America HVAC Variable Frequency Drive Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil HVAC Variable Frequency Drive Market
10.5.6.1.1 Brazil HVAC Variable Frequency Drive Market by Type
10.5.6.1.2 Brazil HVAC Variable Frequency Drive Market by Power Range
10.5.6.1.3 Brazil HVAC Variable Frequency Drive Market by End User
10.5.6.2 Rest of South and Central America HVAC Variable Frequency Drive Market
10.5.6.2.1 Rest of South and Central America HVAC Variable Frequency Drive Market by Type
10.5.6.2.2 Rest of South and Central America HVAC Variable Frequency Drive Market by Power Range
10.5.6.2.3 Rest of South and Central America HVAC Variable Frequency Drive Market by End User
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. HVAC VARIABLE FREQUENCY DRIVE MARKET, KEY COMPANY PROFILES
12.1. ABB
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
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. ROCKWELL AUTOMATION
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. MITSUBISHI ELECTRIC CO.
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. DANFOSS
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. TCI,LLC
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. L C MAGNETICS
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. HAMMOND POWER SOLUTION
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. ROMAN MANUFACTURING 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. YASKAWA ELECTRIC CORP.
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.ABB
2.Siemens
3.Rockwell Automation
4.Mitsubishi Electric Co.
5.Danfoss
6.TCI,LLC
7.L C Magnetics
8.Hammond Power Solution
9.RoMan Manufacturing Inc.
10.Yaskawa Electric Corp.
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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