Industrial Flooring Market Report, Analysis, Opportunities by 2031
The Industrial Flooring Market is expected to register a CAGR of 5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents analysis based on material type (concrete, epoxy, polyaspartic, polyurethane, vinyl, and others). The report is segmented by product type (light duty, medium duty, and heavy duty). The report is segmented by end use industry (food and beverages, healthcare, transportation and aviation, chemical, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Industrial Flooring 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.
Industrial Flooring Market Segmentation
Material Type- Concrete
- Epoxy
- Polyaspartic
- Polyurethane
- Vinyl
- Light Duty
- Medium Duty
- Heavy Duty
- Food and Beverages
- Healthcare
- Transportation and Aviation
- Chemical
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Industrial Flooring Market Growth Drivers- Surge in Manufacturing Plants: One of the fundamental factors that propel the growth of the industrial flooring market is the surge in the number of manufacturing plants. With nations improving their production potential, there arises a higher requirement for tough and effective flooring systems. Industries need flooring that can resist heavy machinery, chemical spillage, and extreme levels of foot traffic, hence the need for tailored coatings.
- Introduction of New Manufacturing Facilities Boosting Adoption of Advanced Flooring Technologies: The setting up of new manufacturing facilities also leads to the introduction of newer and better flooring systems. More and more manufacturers are now turning to new flooring systems that perform, look and are safer than the standard systems. This in turn enhances the uptake of newer flooring technologies such as epoxy and polyurethane which are protective and easy to maintain.
- Foreign Investments in Emerging Economies Expanding the Market: New markets are opening up with a wave of foreign investments in the manufacturing sectors of emerging economies. These investments assist flooring suppliers in creating new markets for themselves. New or renovated factories also increase the industrial flooring solution demand.
- Growing inclination to adopt green building materials in the industrial flooring market: Sustainability is becoming a major concern for industries, and hence, the need for sustainable flooring systems is rising. Green materials not only help reduce carbon footprints but also help satisfy consumers who avail services and goods and practice greener practices.
- Shift Towards Recycled, Renewable, and Low-VOC Materials in Flooring to Meet Environmental Standards: Flooring manufacturers have also now shifted their focus to putting a lot of recycled, renewable, and low-VOC materials in the flooring products they manufacture. These materials promote better indoor air quality while controlling emissions of harmful gases to the environment. Also, since the pressure to comply with the imposed environmental standards has become more critical over the years, organizations have no option but to use environmentally friendly measures, which increases their competitive edge in the market.
- Sustainable Flooring Solutions Offering Improved Quality and Reduced Maintenance Costs: Moreover, sustainable flooring choices are often characterized by improved quality and decreased costs of maintenance. Many soft flooring options provide high performance at reduced costs, making them preferred options to natural alternatives. This unique combination of sustainability and functionality has a vast appeal to various industries, including but not limited to manufacturing and warehousing.
- Integration of Anti-Microbial Properties in Industrial Flooring Driven by Hygiene Needs: The application of anti-microbial properties is gradually being integrated in industrial flooring, which is a key driver for the market growth. As hygienic needs become more focused in various industries such as healthcare and food processing, the market of anti-microbial solutions for flooring systems is also gaining traction. This helps to ensure safe and clean surfaces in industrial operations.
- Anti-Microbial Flooring Preventing Bacterial, Fungal, and Viral Growth to Ensure Clean Surfaces: Anti-microbial flooring materials prevent the growth of and subsequent infection by bacteria, fungi and viruses, which are serious issues for public health. More and more industries are being mindful of cleanliness for the sake of both the employees and the clientele. Consequently, the demand for long-lasting flooring systems which also guarantee hygiene is on the increase.
- Anti-Microbial Coatings Enhancing Flooring Durability and Reducing Maintenance Costs: In addition, there are also possibilities of enhancing the flooring performance using anti-microbial coatings by minimizing the effects of wear and tear caused by microbes.This sturdiness saves money that would otherwise have been spent on carrying out maintenance works or replacing worn out floors as such solutions last longer. Given that companies are looking at enhancing productivity and being cost-effective, these forms of flooring are likely to be preferred.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Industrial Flooring 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 Industrial Flooring 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Have a question?
Shejal
Shejal 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
- 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.
Frequently Asked Questions
The shift toward eco-friendly materials is expected to be the key market trends.
Based on material type, the polyurethane segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the industrial flooring market due to the region's rapid industrialization, with countries such as China, India, and Vietnam investing heavily in manufacturing and infrastructure.
The rapid expansion of manufacturing facilities are driving the market growth.
BASF SE; Cipy Polyurethanes Pvt. Ltd.; Cornerstone Flooring; Don Construction Products Ltd.; Fosroc, Inc.; MAPEI S.p.A.; RPM International Inc.; Sika AG; Twintec Group Limited; and VIACOR Polymer GmbH are some of the key players operating in the industrial flooring market
The Industrial Flooring Market is estimated to witness a CAGR of 5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Industrial Flooring Market - By Material
1.3.2 Industrial Flooring Market - By Product Type
1.3.3 Industrial Flooring Market - By End User Industry
1.3.4 Industrial Flooring Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INDUSTRIAL FLOORING 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. EXPERT OPINIONS
5. INDUSTRIAL FLOORING 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. INDUSTRIAL FLOORING MARKET - GLOBAL MARKET ANALYSIS
6.1. INDUSTRIAL FLOORING - GLOBAL MARKET OVERVIEW
6.2. INDUSTRIAL FLOORING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INDUSTRIAL FLOORING MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. ANHYDRITE
7.3.1. Overview
7.3.2. Anhydrite Market Forecast and Analysis
7.4. CONCRETE
7.4.1. Overview
7.4.2. Concrete Market Forecast and Analysis
7.5. EPOXY
7.5.1. Overview
7.5.2. Epoxy Market Forecast and Analysis
7.6. METHYL METHACRYLATE (MMA)
7.6.1. Overview
7.6.2. Methyl Methacrylate (MMA) Market Forecast and Analysis
7.7. POLYASPARTIC
7.7.1. Overview
7.7.2. Polyaspartic Market Forecast and Analysis
7.8. POLYURETHANE
7.8.1. Overview
7.8.2. Polyurethane Market Forecast and Analysis
8. INDUSTRIAL FLOORING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. LIGHT DUTY (>300µM)
8.3.1. Overview
8.3.2. Light Duty (>300µm) Market Forecast and Analysis
8.4. MEDIUM DUTY (300µM-4MM)
8.4.1. Overview
8.4.2. Medium Duty (300µm-4mm) Market Forecast and Analysis
8.5. HEAVY DUTY (>4MM)
8.5.1. Overview
8.5.2. Heavy Duty (>4mm) Market Forecast and Analysis
9. INDUSTRIAL FLOORING MARKET - REVENUE AND FORECASTS TO 2028 - END USER INDUSTRY
9.1. OVERVIEW
9.2. END USER INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. CHEMICAL INDUSTRY
9.3.1. Overview
9.3.2. Chemical Industry Market Forecast and Analysis
9.4. FOOD AND BEVERAGES
9.4.1. Overview
9.4.2. Food and Beverages Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. TRANSPORTATION AND AVIATION
9.6.1. Overview
9.6.2. Transportation and Aviation Market Forecast and Analysis
9.7. OTHER END USER INDUSTRIES
9.7.1. Overview
9.7.2. Other End User Industries Market Forecast and Analysis
10. INDUSTRIAL FLOORING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Industrial Flooring Market Overview
10.1.2 North America Industrial Flooring Market Forecasts and Analysis
10.1.3 North America Industrial Flooring Market Forecasts and Analysis - By Material
10.1.4 North America Industrial Flooring Market Forecasts and Analysis - By Product Type
10.1.5 North America Industrial Flooring Market Forecasts and Analysis - By End User Industry
10.1.6 North America Industrial Flooring Market Forecasts and Analysis - By Countries
10.1.6.1 United States Industrial Flooring Market
10.1.6.1.1 United States Industrial Flooring Market by Material
10.1.6.1.2 United States Industrial Flooring Market by Product Type
10.1.6.1.3 United States Industrial Flooring Market by End User Industry
10.1.6.2 Canada Industrial Flooring Market
10.1.6.2.1 Canada Industrial Flooring Market by Material
10.1.6.2.2 Canada Industrial Flooring Market by Product Type
10.1.6.2.3 Canada Industrial Flooring Market by End User Industry
10.1.6.3 Mexico Industrial Flooring Market
10.1.6.3.1 Mexico Industrial Flooring Market by Material
10.1.6.3.2 Mexico Industrial Flooring Market by Product Type
10.1.6.3.3 Mexico Industrial Flooring Market by End User Industry
10.2. EUROPE
10.2.1 Europe Industrial Flooring Market Overview
10.2.2 Europe Industrial Flooring Market Forecasts and Analysis
10.2.3 Europe Industrial Flooring Market Forecasts and Analysis - By Material
10.2.4 Europe Industrial Flooring Market Forecasts and Analysis - By Product Type
10.2.5 Europe Industrial Flooring Market Forecasts and Analysis - By End User Industry
10.2.6 Europe Industrial Flooring Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Industrial Flooring Market
10.2.6.1.1 Germany Industrial Flooring Market by Material
10.2.6.1.2 Germany Industrial Flooring Market by Product Type
10.2.6.1.3 Germany Industrial Flooring Market by End User Industry
10.2.6.2 France Industrial Flooring Market
10.2.6.2.1 France Industrial Flooring Market by Material
10.2.6.2.2 France Industrial Flooring Market by Product Type
10.2.6.2.3 France Industrial Flooring Market by End User Industry
10.2.6.3 Italy Industrial Flooring Market
10.2.6.3.1 Italy Industrial Flooring Market by Material
10.2.6.3.2 Italy Industrial Flooring Market by Product Type
10.2.6.3.3 Italy Industrial Flooring Market by End User Industry
10.2.6.4 Spain Industrial Flooring Market
10.2.6.4.1 Spain Industrial Flooring Market by Material
10.2.6.4.2 Spain Industrial Flooring Market by Product Type
10.2.6.4.3 Spain Industrial Flooring Market by End User Industry
10.2.6.5 United Kingdom Industrial Flooring Market
10.2.6.5.1 United Kingdom Industrial Flooring Market by Material
10.2.6.5.2 United Kingdom Industrial Flooring Market by Product Type
10.2.6.5.3 United Kingdom Industrial Flooring Market by End User Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Industrial Flooring Market Overview
10.3.2 Asia-Pacific Industrial Flooring Market Forecasts and Analysis
10.3.3 Asia-Pacific Industrial Flooring Market Forecasts and Analysis - By Material
10.3.4 Asia-Pacific Industrial Flooring Market Forecasts and Analysis - By Product Type
10.3.5 Asia-Pacific Industrial Flooring Market Forecasts and Analysis - By End User Industry
10.3.6 Asia-Pacific Industrial Flooring Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Industrial Flooring Market
10.3.6.1.1 Australia Industrial Flooring Market by Material
10.3.6.1.2 Australia Industrial Flooring Market by Product Type
10.3.6.1.3 Australia Industrial Flooring Market by End User Industry
10.3.6.2 China Industrial Flooring Market
10.3.6.2.1 China Industrial Flooring Market by Material
10.3.6.2.2 China Industrial Flooring Market by Product Type
10.3.6.2.3 China Industrial Flooring Market by End User Industry
10.3.6.3 India Industrial Flooring Market
10.3.6.3.1 India Industrial Flooring Market by Material
10.3.6.3.2 India Industrial Flooring Market by Product Type
10.3.6.3.3 India Industrial Flooring Market by End User Industry
10.3.6.4 Japan Industrial Flooring Market
10.3.6.4.1 Japan Industrial Flooring Market by Material
10.3.6.4.2 Japan Industrial Flooring Market by Product Type
10.3.6.4.3 Japan Industrial Flooring Market by End User Industry
10.3.6.5 South Korea Industrial Flooring Market
10.3.6.5.1 South Korea Industrial Flooring Market by Material
10.3.6.5.2 South Korea Industrial Flooring Market by Product Type
10.3.6.5.3 South Korea Industrial Flooring Market by End User Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Industrial Flooring Market Overview
10.4.2 Middle East and Africa Industrial Flooring Market Forecasts and Analysis
10.4.3 Middle East and Africa Industrial Flooring Market Forecasts and Analysis - By Material
10.4.4 Middle East and Africa Industrial Flooring Market Forecasts and Analysis - By Product Type
10.4.5 Middle East and Africa Industrial Flooring Market Forecasts and Analysis - By End User Industry
10.4.6 Middle East and Africa Industrial Flooring Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Industrial Flooring Market
10.4.6.1.1 South Africa Industrial Flooring Market by Material
10.4.6.1.2 South Africa Industrial Flooring Market by Product Type
10.4.6.1.3 South Africa Industrial Flooring Market by End User Industry
10.4.6.2 Saudi Arabia Industrial Flooring Market
10.4.6.2.1 Saudi Arabia Industrial Flooring Market by Material
10.4.6.2.2 Saudi Arabia Industrial Flooring Market by Product Type
10.4.6.2.3 Saudi Arabia Industrial Flooring Market by End User Industry
10.4.6.3 U.A.E Industrial Flooring Market
10.4.6.3.1 U.A.E Industrial Flooring Market by Material
10.4.6.3.2 U.A.E Industrial Flooring Market by Product Type
10.4.6.3.3 U.A.E Industrial Flooring Market by End User Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Industrial Flooring Market Overview
10.5.2 South and Central America Industrial Flooring Market Forecasts and Analysis
10.5.3 South and Central America Industrial Flooring Market Forecasts and Analysis - By Material
10.5.4 South and Central America Industrial Flooring Market Forecasts and Analysis - By Product Type
10.5.5 South and Central America Industrial Flooring Market Forecasts and Analysis - By End User Industry
10.5.6 South and Central America Industrial Flooring Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Industrial Flooring Market
10.5.6.1.1 Brazil Industrial Flooring Market by Material
10.5.6.1.2 Brazil Industrial Flooring Market by Product Type
10.5.6.1.3 Brazil Industrial Flooring Market by End User Industry
10.5.6.2 Argentina Industrial Flooring Market
10.5.6.2.1 Argentina Industrial Flooring Market by Material
10.5.6.2.2 Argentina Industrial Flooring Market by Product Type
10.5.6.2.3 Argentina Industrial Flooring Market by End User Industry
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. INDUSTRIAL FLOORING MARKET, KEY COMPANY PROFILES
12.1. BASF SE
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. CIPY POLYURETHANES PVT. LTD.
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. CORNERSTONE FLOORING
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. DON CONSTRUCTION PRODUCTS LTD.
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. FOSROC, INC.
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. MAPEI S.P.A.
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. RPM INTERNATIONAL INC.
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. SIKA AG
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. TWINTEC GROUP LIMITED
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. VIACOR POLYMER GMBH
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.BASF SE2.Cipy Polyurethanes Pvt. Ltd.3.Cornerstone Flooring4.Don Construction Products Ltd.5.Fosroc, Inc.6.MAPEI S.p.A.7.RPM International Inc.8.Sika AG9.Twintec Group Limited10.VIACOR Polymer GmbH
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