HVDC Converter Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
An HVDC converter converts electric power from high voltage alternating current (AC) to high-voltage direct current (HVDC), or vice versa. HVDC is used as an alternative to AC for transmitting electrical energy over long distances or between AC power systems of different frequencies. HVDC converters capable of converting up to two gigawatts (GW) and with voltage ratings of up to 900 kilovolts (kV) have been built, and even higher ratings are technically feasible. A complete converter station may contain several such converters in series and/or parallel to achieve total system DC voltage ratings of up to 1,100 kV.
MARKET DYNAMICS
High voltage direct current (HVDC) technology is one of the catalysts driving the transformation of the electricity market. The increasing cross border power transmission activities are expected to pave a way for the development of HVDC systems, which, in turn, is likely to drive the HVDC converter station market. Also, growth in the renewable energy sector is also expected to drive the market during the forecast period as there is a significant rise in renewable energy generation capacity (onshore and offshore), supported by the government's objectives. However, the implementation of the distributed and off-grid power systems is reducing the demand for HVDC transmission lines. Therefore, the growing demand for these power plants is expected to restrain the market during the forecast period.
MARKET SCOPE
The ˜Global HVDC converter Market Analysis to 2028" 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 HVDC converter market with detailed market segmentation by voltage, power rating, configuration, and converter. The global HVDC converter market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading HVDC converter market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Voltage: The global market is categorized into < 500 kV, 500-800 kV, >800-1000 kV and > 1000 kV.
2. By Power rating: The global market is categorized into < 3,000 MW, 3000-6000 MW, >6000-10000 MW and > 10,000 MW.
3. By Configuration: The global market is categorized into Monopolar, Bipolar, Back to Back and Others.
4. By Converter: The global market is categorized into LCC, VSC and Others.
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 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The HVDC converter 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 HVDC converter 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 HVDC converter market in these regions.
IMPACT OF COVID 19
Amid the COVID-19 crisis, the global market for HVDC Converter Stations estimated at US$8.9 Billion in the year 2020, is projected to reach a revised size of US$14 Billion by 2028, growing at a CAGR of 6.6% over the period 2020-2028. LCC, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$9.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the VSC segment is readjusted to a revised 7.3% CAGR for the next 7-year period.
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- 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 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The HVDC converter 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 HVDC converter 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 HVDC converter market in these regions.
IMPACT OF COVID 19
Amid the COVID-19 crisis, the global market for HVDC Converter Stations estimated at US$8.9 Billion in the year 2020, is projected to reach a revised size of US$14 Billion by 2028, growing at a CAGR of 6.6% over the period 2020-2028. LCC, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$9.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the VSC segment is readjusted to a revised 7.3% CAGR for the next 7-year period.
MARKET PLAYERS
The report covers vital developments in the HVDC converter 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 HVDC converter market are anticipated to have lucrative growth opportunities in the future with the rising demand for HVDC converter in the global market. Below mentioned is the list of a few companies engaged in the HVDC converter market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the HVDC converter 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.
- ABB
- C-EPRI
- china Xian XD power system
- C-EPRi Power engineering company
- General Electric
- Mitsubishi
- NR Electric
- Siemens
- Toshiba
- XJ Electric
- 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
1.3.1HVDC Converter Market - By Voltage
1.3.2HVDC Converter Market - By Power Rating
1.3.3HVDC Converter Market - By Configuration
1.3.4HVDC Converter Market - By Converter
1.3.5HVDC Converter Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.HVDC CONVERTER MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.HVDC CONVERTER 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.HVDC CONVERTER MARKET - GLOBAL MARKET ANALYSIS
6.1.HVDC CONVERTER - GLOBAL MARKET OVERVIEW
6.2.HVDC CONVERTER - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.HVDC CONVERTER MARKET - REVENUE AND FORECASTS TO 2028 " VOLTAGE
7.1.OVERVIEW
7.2.VOLTAGE MARKET FORECASTS AND ANALYSIS
7.3.BELOW 500 KV
7.3.1.Overview
7.3.2.Below 500 kV Market Forecast and Analysis
7.4.500-800 KV
7.4.1.Overview
7.4.2.500-800 kV Market Forecast and Analysis
7.5.ABOVE 800-1000 KV AND BELOW 1000 KV.
7.5.1.Overview
7.5.2.Above 800-1000 kV and Below 1000 kV. Market Forecast and Analysis
8.HVDC CONVERTER MARKET - REVENUE AND FORECASTS TO 2028 " POWER RATING
8.1.OVERVIEW
8.2.POWER RATING MARKET FORECASTS AND ANALYSIS
8.3.BELOW 3000 MW
8.3.1.Overview
8.3.2.Below 3000 MW Market Forecast and Analysis
8.4.3000-6000 MW
8.4.1.Overview
8.4.2.3000-6000 MW Market Forecast and Analysis
8.5.ABOVE 6000-10000 MW AND BELOW 10000 MW.
8.5.1.Overview
8.5.2.Above 6000-10000 MW and Below 10000 MW. Market Forecast and Analysis
9.HVDC CONVERTER MARKET - REVENUE AND FORECASTS TO 2028 " CONFIGURATION
9.1.OVERVIEW
9.2.CONFIGURATION MARKET FORECASTS AND ANALYSIS
9.3.MONOPOLAR
9.3.1.Overview
9.3.2.Monopolar Market Forecast and Analysis
9.4.BIPOLAR
9.4.1.Overview
9.4.2.Bipolar Market Forecast and Analysis
9.5.BACK TO BACK
9.5.1.Overview
9.5.2.Back to Back Market Forecast and Analysis
9.6.OTHERS
9.6.1.Overview
9.6.2.Others Market Forecast and Analysis
10.HVDC CONVERTER MARKET - REVENUE AND FORECASTS TO 2028 " CONVERTER
10.1.OVERVIEW
10.2.CONVERTER MARKET FORECASTS AND ANALYSIS
10.3.LCC
10.3.1.Overview
10.3.2.LCC Market Forecast and Analysis
10.4.VSC
10.4.1.Overview
10.4.2.VSC Market Forecast and Analysis
10.5.OTHERS
10.5.1.Overview
10.5.2.Others Market Forecast and Analysis
11.HVDC CONVERTER MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America HVDC Converter Market Overview
11.1.2North America HVDC Converter Market Forecasts and Analysis
11.1.3North America HVDC Converter Market Forecasts and Analysis - By Voltage
11.1.4North America HVDC Converter Market Forecasts and Analysis - By Power Rating
11.1.5North America HVDC Converter Market Forecasts and Analysis - By Configuration
11.1.6North America HVDC Converter Market Forecasts and Analysis - By Converter
11.1.7North America HVDC Converter Market Forecasts and Analysis - By Countries
11.1.7.1United States HVDC Converter Market
11.1.7.1.1United States HVDC Converter Market by Voltage
11.1.7.1.2United States HVDC Converter Market by Power Rating
11.1.7.1.3United States HVDC Converter Market by Configuration
11.1.7.1.4United States HVDC Converter Market by Converter
11.1.7.2Canada HVDC Converter Market
11.1.7.2.1Canada HVDC Converter Market by Voltage
11.1.7.2.2Canada HVDC Converter Market by Power Rating
11.1.7.2.3Canada HVDC Converter Market by Configuration
11.1.7.2.4Canada HVDC Converter Market by Converter
11.1.7.3Mexico HVDC Converter Market
11.1.7.3.1Mexico HVDC Converter Market by Voltage
11.1.7.3.2Mexico HVDC Converter Market by Power Rating
11.1.7.3.3Mexico HVDC Converter Market by Configuration
11.1.7.3.4Mexico HVDC Converter Market by Converter
11.2.EUROPE
11.2.1Europe HVDC Converter Market Overview
11.2.2Europe HVDC Converter Market Forecasts and Analysis
11.2.3Europe HVDC Converter Market Forecasts and Analysis - By Voltage
11.2.4Europe HVDC Converter Market Forecasts and Analysis - By Power Rating
11.2.5Europe HVDC Converter Market Forecasts and Analysis - By Configuration
11.2.6Europe HVDC Converter Market Forecasts and Analysis - By Converter
11.2.7Europe HVDC Converter Market Forecasts and Analysis - By Countries
11.2.7.1Germany HVDC Converter Market
11.2.7.1.1Germany HVDC Converter Market by Voltage
11.2.7.1.2Germany HVDC Converter Market by Power Rating
11.2.7.1.3Germany HVDC Converter Market by Configuration
11.2.7.1.4Germany HVDC Converter Market by Converter
11.2.7.2France HVDC Converter Market
11.2.7.2.1France HVDC Converter Market by Voltage
11.2.7.2.2France HVDC Converter Market by Power Rating
11.2.7.2.3France HVDC Converter Market by Configuration
11.2.7.2.4France HVDC Converter Market by Converter
11.2.7.3Italy HVDC Converter Market
11.2.7.3.1Italy HVDC Converter Market by Voltage
11.2.7.3.2Italy HVDC Converter Market by Power Rating
11.2.7.3.3Italy HVDC Converter Market by Configuration
11.2.7.3.4Italy HVDC Converter Market by Converter
11.2.7.4Spain HVDC Converter Market
11.2.7.4.1Spain HVDC Converter Market by Voltage
11.2.7.4.2Spain HVDC Converter Market by Power Rating
11.2.7.4.3Spain HVDC Converter Market by Configuration
11.2.7.4.4Spain HVDC Converter Market by Converter
11.2.7.5United Kingdom HVDC Converter Market
11.2.7.5.1United Kingdom HVDC Converter Market by Voltage
11.2.7.5.2United Kingdom HVDC Converter Market by Power Rating
11.2.7.5.3United Kingdom HVDC Converter Market by Configuration
11.2.7.5.4United Kingdom HVDC Converter Market by Converter
11.2.7.6Russia HVDC Converter Market
11.2.7.6.1Russia HVDC Converter Market by Voltage
11.2.7.6.2Russia HVDC Converter Market by Power Rating
11.2.7.6.3Russia HVDC Converter Market by Configuration
11.2.7.6.4Russia HVDC Converter Market by Converter
11.2.7.7Rest of Europe HVDC Converter Market
11.2.7.7.1Rest of Europe HVDC Converter Market by Voltage
11.2.7.7.2Rest of Europe HVDC Converter Market by Power Rating
11.2.7.7.3Rest of Europe HVDC Converter Market by Configuration
11.2.7.7.4Rest of Europe HVDC Converter Market by Converter
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific HVDC Converter Market Overview
11.3.2Asia-Pacific HVDC Converter Market Forecasts and Analysis
11.3.3Asia-Pacific HVDC Converter Market Forecasts and Analysis - By Voltage
11.3.4Asia-Pacific HVDC Converter Market Forecasts and Analysis - By Power Rating
11.3.5Asia-Pacific HVDC Converter Market Forecasts and Analysis - By Configuration
11.3.6Asia-Pacific HVDC Converter Market Forecasts and Analysis - By Converter
11.3.7Asia-Pacific HVDC Converter Market Forecasts and Analysis - By Countries
11.3.7.1Australia HVDC Converter Market
11.3.7.1.1Australia HVDC Converter Market by Voltage
11.3.7.1.2Australia HVDC Converter Market by Power Rating
11.3.7.1.3Australia HVDC Converter Market by Configuration
11.3.7.1.4Australia HVDC Converter Market by Converter
11.3.7.2China HVDC Converter Market
11.3.7.2.1China HVDC Converter Market by Voltage
11.3.7.2.2China HVDC Converter Market by Power Rating
11.3.7.2.3China HVDC Converter Market by Configuration
11.3.7.2.4China HVDC Converter Market by Converter
11.3.7.3India HVDC Converter Market
11.3.7.3.1India HVDC Converter Market by Voltage
11.3.7.3.2India HVDC Converter Market by Power Rating
11.3.7.3.3India HVDC Converter Market by Configuration
11.3.7.3.4India HVDC Converter Market by Converter
11.3.7.4Japan HVDC Converter Market
11.3.7.4.1Japan HVDC Converter Market by Voltage
11.3.7.4.2Japan HVDC Converter Market by Power Rating
11.3.7.4.3Japan HVDC Converter Market by Configuration
11.3.7.4.4Japan HVDC Converter Market by Converter
11.3.7.5South Korea HVDC Converter Market
11.3.7.5.1South Korea HVDC Converter Market by Voltage
11.3.7.5.2South Korea HVDC Converter Market by Power Rating
11.3.7.5.3South Korea HVDC Converter Market by Configuration
11.3.7.5.4South Korea HVDC Converter Market by Converter
11.3.7.6Rest of Asia-Pacific HVDC Converter Market
11.3.7.6.1Rest of Asia-Pacific HVDC Converter Market by Voltage
11.3.7.6.2Rest of Asia-Pacific HVDC Converter Market by Power Rating
11.3.7.6.3Rest of Asia-Pacific HVDC Converter Market by Configuration
11.3.7.6.4Rest of Asia-Pacific HVDC Converter Market by Converter
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa HVDC Converter Market Overview
11.4.2Middle East and Africa HVDC Converter Market Forecasts and Analysis
11.4.3Middle East and Africa HVDC Converter Market Forecasts and Analysis - By Voltage
11.4.4Middle East and Africa HVDC Converter Market Forecasts and Analysis - By Power Rating
11.4.5Middle East and Africa HVDC Converter Market Forecasts and Analysis - By Configuration
11.4.6Middle East and Africa HVDC Converter Market Forecasts and Analysis - By Converter
11.4.7Middle East and Africa HVDC Converter Market Forecasts and Analysis - By Countries
11.4.7.1South Africa HVDC Converter Market
11.4.7.1.1South Africa HVDC Converter Market by Voltage
11.4.7.1.2South Africa HVDC Converter Market by Power Rating
11.4.7.1.3South Africa HVDC Converter Market by Configuration
11.4.7.1.4South Africa HVDC Converter Market by Converter
11.4.7.2Saudi Arabia HVDC Converter Market
11.4.7.2.1Saudi Arabia HVDC Converter Market by Voltage
11.4.7.2.2Saudi Arabia HVDC Converter Market by Power Rating
11.4.7.2.3Saudi Arabia HVDC Converter Market by Configuration
11.4.7.2.4Saudi Arabia HVDC Converter Market by Converter
11.4.7.3U.A.E HVDC Converter Market
11.4.7.3.1U.A.E HVDC Converter Market by Voltage
11.4.7.3.2U.A.E HVDC Converter Market by Power Rating
11.4.7.3.3U.A.E HVDC Converter Market by Configuration
11.4.7.3.4U.A.E HVDC Converter Market by Converter
11.4.7.4Rest of Middle East and Africa HVDC Converter Market
11.4.7.4.1Rest of Middle East and Africa HVDC Converter Market by Voltage
11.4.7.4.2Rest of Middle East and Africa HVDC Converter Market by Power Rating
11.4.7.4.3Rest of Middle East and Africa HVDC Converter Market by Configuration
11.4.7.4.4Rest of Middle East and Africa HVDC Converter Market by Converter
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America HVDC Converter Market Overview
11.5.2South and Central America HVDC Converter Market Forecasts and Analysis
11.5.3South and Central America HVDC Converter Market Forecasts and Analysis - By Voltage
11.5.4South and Central America HVDC Converter Market Forecasts and Analysis - By Power Rating
11.5.5South and Central America HVDC Converter Market Forecasts and Analysis - By Configuration
11.5.6South and Central America HVDC Converter Market Forecasts and Analysis - By Converter
11.5.7South and Central America HVDC Converter Market Forecasts and Analysis - By Countries
11.5.7.1Brazil HVDC Converter Market
11.5.7.1.1Brazil HVDC Converter Market by Voltage
11.5.7.1.2Brazil HVDC Converter Market by Power Rating
11.5.7.1.3Brazil HVDC Converter Market by Configuration
11.5.7.1.4Brazil HVDC Converter Market by Converter
11.5.7.2Argentina HVDC Converter Market
11.5.7.2.1Argentina HVDC Converter Market by Voltage
11.5.7.2.2Argentina HVDC Converter Market by Power Rating
11.5.7.2.3Argentina HVDC Converter Market by Configuration
11.5.7.2.4Argentina HVDC Converter Market by Converter
11.5.7.3Rest of South and Central America HVDC Converter Market
11.5.7.3.1Rest of South and Central America HVDC Converter Market by Voltage
11.5.7.3.2Rest of South and Central America HVDC Converter Market by Power Rating
11.5.7.3.3Rest of South and Central America HVDC Converter Market by Configuration
11.5.7.3.4Rest of South and Central America HVDC Converter Market by Converter
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.HVDC CONVERTER MARKET, KEY COMPANY PROFILES
13.1.SIEMENS
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.ABB
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.GENERAL ELECTRIC
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.MITSUBISHI
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.TOSHIBA
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.NR ELECTRIC
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.C-EPRI
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.CHINA XIAN XD POWER SYSTEM
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.C-EPRI POWER ENGINEERING COMPANY
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.XJ ELECTRIC
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
13.11.HYOSUNG
13.11.1.Key Facts
13.11.2.Business Description
13.11.3.Products and Services
13.11.4.Financial Overview
13.11.5.SWOT Analysis
13.11.6.Key Developments
13.12.LSIS
13.12.1.Key Facts
13.12.2.Business Description
13.12.3.Products and Services
13.12.4.Financial Overview
13.12.5.SWOT Analysis
13.12.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
1.Siemens
2.ABB
3.General Electric
4.Mitsubishi
5.Toshiba
6.NR Electric
7.C-EPRI
8.China Xian XD power system
9.C-EPRi Power engineering company
10.XJ Electric
11.HYOSUNG
12.LSIS
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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