HVDC Transmission Market Size & CAGR (2023-2031)
The HVDC Transmission Market is expected to register a CAGR of 4.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Technology [(Line Commutated Converter (LCC),Voltage Source Converter (VSC)], Type (Overhead, Subsea, Mixed, Underground). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report HVDC Transmission Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
HVDC Transmission Market Segmentation
Technology- Line Commutated Converter
- Voltage Source Converter
- Overhead
- Subsea
- Mixed
- Underground
Strategic Insights
HVDC Transmission Market Growth Drivers- Increasing Demand for Efficient Long-Distance Power Transmission: One of the primary drivers for the High Voltage Direct Current (HVDC) transmission market is the growing need for efficient long-distance power transmission. HVDC systems are particularly effective for transmitting electricity over long distances with lower energy losses compared to traditional alternating current (AC) systems. As countries continue to expand their energy grids to accommodate renewable energy sources, such as wind and solar, HVDC transmission provides an optimal solution for connecting remote generation sites with urban centers, thus boosting demand for this technology.
- Integration of Renewable Energy Sources: The rise in renewable energy generation, particularly offshore wind farms, solar power, and hydropower, is driving the adoption of HVDC transmission systems. HVDC technology is ideal for integrating large-scale renewable energy projects into the grid due to its ability to handle high power levels efficiently over long distances. Moreover, HVDC systems offer better control over the flow of power and can help stabilize the grid when integrating intermittent renewable energy sources. This is particularly relevant in regions like Europe and Asia, where significant investments in renewable energy infrastructure are underway, thereby increasing the demand for HVDC systems.
- Advancements in HVDC Technology and Conversion Equipment: There is a growing trend toward the advancement of HVDC transmission technology, particularly in the development of more efficient converter stations and improved semiconductor technologies. The use of high-efficiency power electronics, such as silicon carbide (SiC) and gallium nitride (GaN) semiconductors, is improving the performance of HVDC systems, making them more cost-effective and capable of handling higher capacities. Additionally, innovations in voltage source converters (VSC-HVDC) are enabling more flexible, reliable, and controllable HVDC systems, particularly in applications involving renewable energy integration and offshore power plants.
- Focus on Offshore Wind Energy Integration: Another key trend is the increased focus on using HVDC systems for offshore wind energy integration. Offshore wind farms, located far from shore, require efficient and reliable transmission systems to deliver the generated power to the mainland. HVDC transmission is well-suited for these applications because it can efficiently transmit large amounts of power over long distances with minimal losses, and it is ideal for subsea cable installations. As countries, particularly in Europe and Asia, ramp up investments in offshore wind energy, HVDC technology is becoming a crucial enabler of large-scale offshore wind power generation and transmission.
- Submarine Power Transmission:Opportunities for undersea HVDC cables are created by the expanding offshore wind power industry. The demand for sophisticated underwater HVDC transmission systems is driven by the necessity of transferring power from offshore facilities to mainland grids as well as the growth in intercontinental power connections.
- Grid Modernization Programs:Opportunities to install HVDC are presented by widespread grid upgrade programs. HVDC systems provide benefits in controlling power flow, lowering losses, and enhancing overall system stability as nations modernize outdated infrastructure and improve grid reliability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the HVDC Transmission Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the HVDC Transmission Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The HVDC Transmission Market is estimated to witness a CAGR of 4.2% from 2023 to 2031
Renewable energy integration and cross-broder power trading are the major factors driving the HVDC transmission market
Voltage Source Converter (VSC) technology adoption to play a significant role in the global HVDC transmission market in the coming years
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1HVDC Transmission Market - By Component
1.3.2HVDC Transmission Market - By Project Type
1.3.3HVDC Transmission Market - By Technology
1.3.4HVDC Transmission Market - By Application
1.3.5HVDC Transmission Market - By Region
1.3.5.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.HVDC TRANSMISSION 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.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.HVDC TRANSMISSION MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.HVDC TRANSMISSION MARKET - GLOBAL MARKET ANALYSIS
6.1.HVDC TRANSMISSION - GLOBAL MARKET OVERVIEW
6.2.HVDC TRANSMISSION - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.HVDC TRANSMISSION MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1.OVERVIEW
7.2.COMPONENT MARKET FORECASTS AND ANALYSIS
7.3.CONVERTER STATIONS
7.3.1.Overview
7.3.2.Converter Stations Market Forecast and Analysis
7.3.3.Valves Market
7.3.3.1.Overview
7.3.3.2.Valves Market Forecast and Analysis
7.3.4.Thyristor Valves Market
7.3.4.1.Overview
7.3.4.2.Thyristor Valves Market Forecast and Analysis
7.3.5.Transformers Market
7.3.5.1.Overview
7.3.5.2.Transformers Market Forecast and Analysis
7.3.6. Harmonic Filters Market
7.3.6.1.Overview
7.3.6.2. Harmonic Filters Market Forecast and Analysis
7.3.7.Circuit Breakers Market
7.3.7.1.Overview
7.3.7.2.Circuit Breakers Market Forecast and Analysis
7.3.8.Reactors Market
7.3.8.1.Overview
7.3.8.2.Reactors Market Forecast and Analysis
7.4.TRANSMISSION CABLES
7.4.1.Overview
7.4.2.Transmission Cables Market Forecast and Analysis
8.HVDC TRANSMISSION MARKET - REVENUE AND FORECASTS TO 2028 - PROJECT TYPE
8.1.OVERVIEW
8.2.PROJECT TYPE MARKET FORECASTS AND ANALYSIS
8.3.POINT-TO-POINT TRANSMISSION
8.3.1.Overview
8.3.2.Point-To-Point Transmission Market Forecast and Analysis
8.3.3.Monopolar Market
8.3.3.1.Overview
8.3.3.2.Monopolar Market Forecast and Analysis
8.3.4.Bipolar Market
8.3.4.1.Overview
8.3.4.2.Bipolar Market Forecast and Analysis
9.HVDC TRANSMISSION MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
9.1.OVERVIEW
9.2.TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3.CAPACITOR COMMUTATED CONVERTER
9.3.1.Overview
9.3.2.Capacitor Commutated Converter Market Forecast and Analysis
9.4.VOLTAGE SOURCE CONVERTER
9.4.1.Overview
9.4.2.Voltage Source Converter Market Forecast and Analysis
9.5.LINE COMMUTATED CONVERTER
9.5.1.Overview
9.5.2.Line Commutated Converter Market Forecast and Analysis
10.HVDC TRANSMISSION MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1.OVERVIEW
10.2.APPLICATION MARKET FORECASTS AND ANALYSIS
10.3.BULK POWER TRANSMISSION
10.3.1.Overview
10.3.2.Bulk Power Transmission Market Forecast and Analysis
10.4.INTERCONNECTING GRIDS
10.4.1.Overview
10.4.2.Interconnecting Grids Market Forecast and Analysis
10.5.INFEED URBAN AREAS
10.5.1.Overview
10.5.2.Infeed Urban Areas Market Forecast and Analysis
11.HVDC TRANSMISSION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America HVDC Transmission Market Overview
11.1.2North America HVDC Transmission Market Forecasts and Analysis
11.1.3North America HVDC Transmission Market Forecasts and Analysis - By Component
11.1.4North America HVDC Transmission Market Forecasts and Analysis - By Project Type
11.1.5North America HVDC Transmission Market Forecasts and Analysis - By Technology
11.1.6North America HVDC Transmission Market Forecasts and Analysis - By Application
11.1.7North America HVDC Transmission Market Forecasts and Analysis - By Countries
11.1.7.1United States HVDC Transmission Market
11.1.7.1.1United States HVDC Transmission Market by Component
11.1.7.1.2United States HVDC Transmission Market by Project Type
11.1.7.1.3United States HVDC Transmission Market by Technology
11.1.7.1.4United States HVDC Transmission Market by Application
11.1.7.2Canada HVDC Transmission Market
11.1.7.2.1Canada HVDC Transmission Market by Component
11.1.7.2.2Canada HVDC Transmission Market by Project Type
11.1.7.2.3Canada HVDC Transmission Market by Technology
11.1.7.2.4Canada HVDC Transmission Market by Application
11.1.7.3Mexico HVDC Transmission Market
11.1.7.3.1Mexico HVDC Transmission Market by Component
11.1.7.3.2Mexico HVDC Transmission Market by Project Type
11.1.7.3.3Mexico HVDC Transmission Market by Technology
11.1.7.3.4Mexico HVDC Transmission Market by Application
11.2.EUROPE
11.2.1Europe HVDC Transmission Market Overview
11.2.2Europe HVDC Transmission Market Forecasts and Analysis
11.2.3Europe HVDC Transmission Market Forecasts and Analysis - By Component
11.2.4Europe HVDC Transmission Market Forecasts and Analysis - By Project Type
11.2.5Europe HVDC Transmission Market Forecasts and Analysis - By Technology
11.2.6Europe HVDC Transmission Market Forecasts and Analysis - By Application
11.2.7Europe HVDC Transmission Market Forecasts and Analysis - By Countries
11.2.7.1Germany HVDC Transmission Market
11.2.7.1.1Germany HVDC Transmission Market by Component
11.2.7.1.2Germany HVDC Transmission Market by Project Type
11.2.7.1.3Germany HVDC Transmission Market by Technology
11.2.7.1.4Germany HVDC Transmission Market by Application
11.2.7.2France HVDC Transmission Market
11.2.7.2.1France HVDC Transmission Market by Component
11.2.7.2.2France HVDC Transmission Market by Project Type
11.2.7.2.3France HVDC Transmission Market by Technology
11.2.7.2.4France HVDC Transmission Market by Application
11.2.7.3Italy HVDC Transmission Market
11.2.7.3.1Italy HVDC Transmission Market by Component
11.2.7.3.2Italy HVDC Transmission Market by Project Type
11.2.7.3.3Italy HVDC Transmission Market by Technology
11.2.7.3.4Italy HVDC Transmission Market by Application
11.2.7.4United Kingdom HVDC Transmission Market
11.2.7.4.1United Kingdom HVDC Transmission Market by Component
11.2.7.4.2United Kingdom HVDC Transmission Market by Project Type
11.2.7.4.3United Kingdom HVDC Transmission Market by Technology
11.2.7.4.4United Kingdom HVDC Transmission Market by Application
11.2.7.5Russia HVDC Transmission Market
11.2.7.5.1Russia HVDC Transmission Market by Component
11.2.7.5.2Russia HVDC Transmission Market by Project Type
11.2.7.5.3Russia HVDC Transmission Market by Technology
11.2.7.5.4Russia HVDC Transmission Market by Application
11.2.7.6Rest of Europe HVDC Transmission Market
11.2.7.6.1Rest of Europe HVDC Transmission Market by Component
11.2.7.6.2Rest of Europe HVDC Transmission Market by Project Type
11.2.7.6.3Rest of Europe HVDC Transmission Market by Technology
11.2.7.6.4Rest of Europe HVDC Transmission Market by Application
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific HVDC Transmission Market Overview
11.3.2Asia-Pacific HVDC Transmission Market Forecasts and Analysis
11.3.3Asia-Pacific HVDC Transmission Market Forecasts and Analysis - By Component
11.3.4Asia-Pacific HVDC Transmission Market Forecasts and Analysis - By Project Type
11.3.5Asia-Pacific HVDC Transmission Market Forecasts and Analysis - By Technology
11.3.6Asia-Pacific HVDC Transmission Market Forecasts and Analysis - By Application
11.3.7Asia-Pacific HVDC Transmission Market Forecasts and Analysis - By Countries
11.3.7.1Australia HVDC Transmission Market
11.3.7.1.1Australia HVDC Transmission Market by Component
11.3.7.1.2Australia HVDC Transmission Market by Project Type
11.3.7.1.3Australia HVDC Transmission Market by Technology
11.3.7.1.4Australia HVDC Transmission Market by Application
11.3.7.2China HVDC Transmission Market
11.3.7.2.1China HVDC Transmission Market by Component
11.3.7.2.2China HVDC Transmission Market by Project Type
11.3.7.2.3China HVDC Transmission Market by Technology
11.3.7.2.4China HVDC Transmission Market by Application
11.3.7.3India HVDC Transmission Market
11.3.7.3.1India HVDC Transmission Market by Component
11.3.7.3.2India HVDC Transmission Market by Project Type
11.3.7.3.3India HVDC Transmission Market by Technology
11.3.7.3.4India HVDC Transmission Market by Application
11.3.7.4Japan HVDC Transmission Market
11.3.7.4.1Japan HVDC Transmission Market by Component
11.3.7.4.2Japan HVDC Transmission Market by Project Type
11.3.7.4.3Japan HVDC Transmission Market by Technology
11.3.7.4.4Japan HVDC Transmission Market by Application
11.3.7.5South Korea HVDC Transmission Market
11.3.7.5.1South Korea HVDC Transmission Market by Component
11.3.7.5.2South Korea HVDC Transmission Market by Project Type
11.3.7.5.3South Korea HVDC Transmission Market by Technology
11.3.7.5.4South Korea HVDC Transmission Market by Application
11.3.7.6Rest of Asia-Pacific HVDC Transmission Market
11.3.7.6.1Rest of Asia-Pacific HVDC Transmission Market by Component
11.3.7.6.2Rest of Asia-Pacific HVDC Transmission Market by Project Type
11.3.7.6.3Rest of Asia-Pacific HVDC Transmission Market by Technology
11.3.7.6.4Rest of Asia-Pacific HVDC Transmission Market by Application
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa HVDC Transmission Market Overview
11.4.2Middle East and Africa HVDC Transmission Market Forecasts and Analysis
11.4.3Middle East and Africa HVDC Transmission Market Forecasts and Analysis - By Component
11.4.4Middle East and Africa HVDC Transmission Market Forecasts and Analysis - By Project Type
11.4.5Middle East and Africa HVDC Transmission Market Forecasts and Analysis - By Technology
11.4.6Middle East and Africa HVDC Transmission Market Forecasts and Analysis - By Application
11.4.7Middle East and Africa HVDC Transmission Market Forecasts and Analysis - By Countries
11.4.7.1South Africa HVDC Transmission Market
11.4.7.1.1South Africa HVDC Transmission Market by Component
11.4.7.1.2South Africa HVDC Transmission Market by Project Type
11.4.7.1.3South Africa HVDC Transmission Market by Technology
11.4.7.1.4South Africa HVDC Transmission Market by Application
11.4.7.2Saudi Arabia HVDC Transmission Market
11.4.7.2.1Saudi Arabia HVDC Transmission Market by Component
11.4.7.2.2Saudi Arabia HVDC Transmission Market by Project Type
11.4.7.2.3Saudi Arabia HVDC Transmission Market by Technology
11.4.7.2.4Saudi Arabia HVDC Transmission Market by Application
11.4.7.3U.A.E HVDC Transmission Market
11.4.7.3.1U.A.E HVDC Transmission Market by Component
11.4.7.3.2U.A.E HVDC Transmission Market by Project Type
11.4.7.3.3U.A.E HVDC Transmission Market by Technology
11.4.7.3.4U.A.E HVDC Transmission Market by Application
11.4.7.4Rest of Middle East and Africa HVDC Transmission Market
11.4.7.4.1Rest of Middle East and Africa HVDC Transmission Market by Component
11.4.7.4.2Rest of Middle East and Africa HVDC Transmission Market by Project Type
11.4.7.4.3Rest of Middle East and Africa HVDC Transmission Market by Technology
11.4.7.4.4Rest of Middle East and Africa HVDC Transmission Market by Application
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America HVDC Transmission Market Overview
11.5.2South and Central America HVDC Transmission Market Forecasts and Analysis
11.5.3South and Central America HVDC Transmission Market Forecasts and Analysis - By Component
11.5.4South and Central America HVDC Transmission Market Forecasts and Analysis - By Project Type
11.5.5South and Central America HVDC Transmission Market Forecasts and Analysis - By Technology
11.5.6South and Central America HVDC Transmission Market Forecasts and Analysis - By Application
11.5.7South and Central America HVDC Transmission Market Forecasts and Analysis - By Countries
11.5.7.1Brazil HVDC Transmission Market
11.5.7.1.1Brazil HVDC Transmission Market by Component
11.5.7.1.2Brazil HVDC Transmission Market by Project Type
11.5.7.1.3Brazil HVDC Transmission Market by Technology
11.5.7.1.4Brazil HVDC Transmission Market by Application
11.5.7.2Argentina HVDC Transmission Market
11.5.7.2.1Argentina HVDC Transmission Market by Component
11.5.7.2.2Argentina HVDC Transmission Market by Project Type
11.5.7.2.3Argentina HVDC Transmission Market by Technology
11.5.7.2.4Argentina HVDC Transmission Market by Application
11.5.7.3Rest of South and Central America HVDC Transmission Market
11.5.7.3.1Rest of South and Central America HVDC Transmission Market by Component
11.5.7.3.2Rest of South and Central America HVDC Transmission Market by Project Type
11.5.7.3.3Rest of South and Central America HVDC Transmission Market by Technology
11.5.7.3.4Rest of South and Central America HVDC Transmission Market by Application
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 TRANSMISSION MARKET, KEY COMPANY PROFILES
13.1.ABB
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.C-EPRI ELECTRIC POWER ENGINEERING CO., LTD
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.HITACHI, LTD
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.MITSUBISHI ELECTRIC CORPORATION
13.5.1.Key Facts
13.5.2.Business Description
13.5.3.Products and Services
13.5.4.Financial Overview
13.5.5.SWOT Analysis
13.5.6.Key Developments
13.6.NEXANS
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.NR ELECTRIC CO., LTD
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.PSC GROUP, LL
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.SIEMENS
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.TRANSGRID SOLUTIONS
13.10.1.Key Facts
13.10.2.Business Description
13.10.3.Products and Services
13.10.4.Financial Overview
13.10.5.SWOT Analysis
13.10.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
1.ABB
2.C-EPRI Electric Power Engineering Co., Ltd
3.GENERAL ELECTRIC
4.Hitachi, Ltd
5.Mitsubishi Electric Corporation
6.NEXANS
7.NR Electric Co., Ltd
8.PSC Group, LL
9.Siemens
10.TransGrid Solutions
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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