Off-road Vehicle Tires Market 2021-2031: Share and Forecast
The Off-road Vehicle Tires Market is expected to register a CAGR of 5.5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The market is segmented into tire type, distribution channel, and application. Based on Tire Type, the market is segmented into Radia and Bias. Based on the Distribution Channel, the market is segmented into OEM, and Aftermarket. Depending upon the vehicle type, the market is segmented into Farm Equipment, Earth Moving Equipment, Others.
Purpose of the ReportThe report Off-road Vehicle Tires 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.
Off-road Vehicle Tires Market Segmentation
Tire Type- Radial
- Bias;
- OEM
- Aftermarket
- Farm Equipment
- Earth Moving Equipment
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Off-road Vehicle Tires Market Growth Drivers- Rising Construction and Agricultural Equipment Demand: Drives the Market Growth: Infrastructure development around the world accelerates in constructions and agricultures respectively. More money channeled in the construction project and the modernization of the agriculture segments raise a demand for more durable tires that will be able to carry off-highway vehicles under adverse terrain.
- Manufacturers are enhancing the design and durability of tire treads. Quality and performance related to off-the-road tires increase with durable material and design, which ensure higher safety and efficiency while improving specific application requirements.
- Rising Popularity of Outdoor Activities: Increasing participation in outdoor activities like off-roading, hunting, camping, and motor sports has spurred the demand for off-road vehicles, which, in turn, drives the need for specialized off-road tires. As adventure sports, including off-road racing, rock crawling, and motocross, become more popular, consumers and enthusiasts require high-performance tires to enhance their off-road experience.
- Rising adoption of the Smart Technologies Bed Tires: The latest trend in the adoption of off-highway vehicle tires is increasing adoption of the smart technologies, such as tire pressure monitoring systems and telematics. All these technologies ensured better performance and improved maintenance of tires. It also increases efficiency in off-highway vehicles.
- Rising adoption of the improved tread design and highly durability based tires driving the market trend.
- Increasing Use of Off-Road Vehicles in Industrial and Commercial Applications: The growing demand for off-road vehicles in mining, construction, and quarrying sectors is a key driver of the off-road tire market. These industries rely on heavy-duty trucks, dump trucks, loaders, and other vehicles that need tires designed for extreme durability and resistance to wear and tear. Tires for such vehicles must handle rough terrain, sharp objects, and challenging weather conditions, which leads to a growing need for high-performance off-road tires.
- Increasing Demand from the Emerging Economies: Demand for off-highway vehicles is growing fast in developing economies such as India, Brazil, Mexico, with rapid industrialization and growing urbanization. Hence, growth opportunities are still quite significant for the tire manufacturers so as to expand their presence in these markets and fulfill their new economy needs.
- Electric and Hybrid Off-Highway Vehicles: Electric and hybrid technologies in off-highway vehicles will enable an entirely new dimension of possibilities to design personalized tires to meet those specific requirements of such vehicles, such as low rolling resistance and improved traction for electric and hybrid vehicles.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Off-road Vehicle Tires 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 Off-road Vehicle Tires 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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Frequently Asked Questions
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.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The major players in the market includes Michelin, Pirelli, MRF Tires, Apollo Tyres,TOYO TIRE and RUBBER, CEAT Limited, Continental AG, Bridgestone Corp., Hangzhou Zhongce Rubber Company, Goodyear, JK Tyre & Industries Ltd., Sumitomo Rubber Industries, Cooper Tire & Rubber Company, and others.
The Off-road Vehicle Tires Market is estimated to witness a CAGR of 5.5% from 2023 to 2031
The high manufacturing cost for the off-highway vehicle tires hinders the market growth.
The major factors driving the Off-road Vehicle Tires Market are: Rising Construction and Agricultural Equipment Demand Drives the Market Growth
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Off-road Tires Market - By Tire Height
1.3.2Off-road Tires Market - By Distribution Channel
1.3.3Off-road Tires Market - By Application
1.3.4Off-road Tires Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.OFF-ROAD TIRES 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.OFF-ROAD TIRES 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.OFF-ROAD TIRES MARKET - GLOBAL MARKET ANALYSIS
6.1.OFF-ROAD TIRES - GLOBAL MARKET OVERVIEW
6.2.OFF-ROAD TIRES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.OFF-ROAD TIRES MARKET - REVENUE AND FORECASTS TO 2028 TIRE HEIGHT
7.1.OVERVIEW
7.2.TIRE HEIGHT MARKET FORECASTS AND ANALYSIS
7.3.BELOW 30 INCHES
7.3.1.Overview
7.3.2.Below 30 Inches Market Forecast and Analysis
7.4.30-40 INCHES
7.4.1.Overview
7.4.2.30-40 Inches Market Forecast and Analysis
7.5.40-45 INCHES
7.5.1.Overview
7.5.2.40-45 Inches Market Forecast and Analysis
7.6.ABOVE 45 INCHES
7.6.1.Overview
7.6.2.Above 45 Inches Market Forecast and Analysis
8.OFF-ROAD TIRES MARKET - REVENUE AND FORECASTS TO 2028 DISTRIBUTION CHANNEL
8.1.OVERVIEW
8.2.DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3.OEM
8.3.1.Overview
8.3.2.OEM Market Forecast and Analysis
8.4.AFTERMARKET
8.4.1.Overview
8.4.2.Aftermarket Market Forecast and Analysis
9.OFF-ROAD TIRES MARKET - REVENUE AND FORECASTS TO 2028 APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.4WD HDT
9.3.1.Overview
9.3.2.4WD HDT Market Forecast and Analysis
9.4.SUV
9.4.1.Overview
9.4.2.SUV Market Forecast and Analysis
9.5.UTV
9.5.1.Overview
9.5.2.UTV Market Forecast and Analysis
9.6.DIRT BIKES AND QUAD
9.6.1.Overview
9.6.2.Dirt Bikes and Quad Market Forecast and Analysis
9.7.OTR
9.7.1.Overview
9.7.2.OTR Market Forecast and Analysis
9.8.OTHERS
9.8.1.Overview
9.8.2.Others Market Forecast and Analysis
10.OFF-ROAD TIRES MARKET REVENUE AND FORECASTS TO 2028 GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Off-road Tires Market Overview
10.1.2North America Off-road Tires Market Forecasts and Analysis
10.1.3North America Off-road Tires Market Forecasts and Analysis - By Tire Height
10.1.4North America Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.1.5North America Off-road Tires Market Forecasts and Analysis - By Application
10.1.6North America Off-road Tires Market Forecasts and Analysis - By Countries
10.1.6.1United States Off-road Tires Market
10.1.6.1.1United States Off-road Tires Market by Tire Height
10.1.6.1.2United States Off-road Tires Market by Distribution Channel
10.1.6.1.3United States Off-road Tires Market by Application
10.1.6.2Canada Off-road Tires Market
10.1.6.2.1Canada Off-road Tires Market by Tire Height
10.1.6.2.2Canada Off-road Tires Market by Distribution Channel
10.1.6.2.3Canada Off-road Tires Market by Application
10.1.6.3Mexico Off-road Tires Market
10.1.6.3.1Mexico Off-road Tires Market by Tire Height
10.1.6.3.2Mexico Off-road Tires Market by Distribution Channel
10.1.6.3.3Mexico Off-road Tires Market by Application
10.2.EUROPE
10.2.1Europe Off-road Tires Market Overview
10.2.2Europe Off-road Tires Market Forecasts and Analysis
10.2.3Europe Off-road Tires Market Forecasts and Analysis - By Tire Height
10.2.4Europe Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.2.5Europe Off-road Tires Market Forecasts and Analysis - By Application
10.2.6Europe Off-road Tires Market Forecasts and Analysis - By Countries
10.2.6.1Germany Off-road Tires Market
10.2.6.1.1Germany Off-road Tires Market by Tire Height
10.2.6.1.2Germany Off-road Tires Market by Distribution Channel
10.2.6.1.3Germany Off-road Tires Market by Application
10.2.6.2France Off-road Tires Market
10.2.6.2.1France Off-road Tires Market by Tire Height
10.2.6.2.2France Off-road Tires Market by Distribution Channel
10.2.6.2.3France Off-road Tires Market by Application
10.2.6.3Italy Off-road Tires Market
10.2.6.3.1Italy Off-road Tires Market by Tire Height
10.2.6.3.2Italy Off-road Tires Market by Distribution Channel
10.2.6.3.3Italy Off-road Tires Market by Application
10.2.6.4United Kingdom Off-road Tires Market
10.2.6.4.1United Kingdom Off-road Tires Market by Tire Height
10.2.6.4.2United Kingdom Off-road Tires Market by Distribution Channel
10.2.6.4.3United Kingdom Off-road Tires Market by Application
10.2.6.5Russia Off-road Tires Market
10.2.6.5.1Russia Off-road Tires Market by Tire Height
10.2.6.5.2Russia Off-road Tires Market by Distribution Channel
10.2.6.5.3Russia Off-road Tires Market by Application
10.2.6.6Rest of Europe Off-road Tires Market
10.2.6.6.1Rest of Europe Off-road Tires Market by Tire Height
10.2.6.6.2Rest of Europe Off-road Tires Market by Distribution Channel
10.2.6.6.3Rest of Europe Off-road Tires Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Off-road Tires Market Overview
10.3.2Asia-Pacific Off-road Tires Market Forecasts and Analysis
10.3.3Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Tire Height
10.3.4Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.3.5Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Countries
10.3.6.1Australia Off-road Tires Market
10.3.6.1.1Australia Off-road Tires Market by Tire Height
10.3.6.1.2Australia Off-road Tires Market by Distribution Channel
10.3.6.1.3Australia Off-road Tires Market by Application
10.3.6.2China Off-road Tires Market
10.3.6.2.1China Off-road Tires Market by Tire Height
10.3.6.2.2China Off-road Tires Market by Distribution Channel
10.3.6.2.3China Off-road Tires Market by Application
10.3.6.3India Off-road Tires Market
10.3.6.3.1India Off-road Tires Market by Tire Height
10.3.6.3.2India Off-road Tires Market by Distribution Channel
10.3.6.3.3India Off-road Tires Market by Application
10.3.6.4Japan Off-road Tires Market
10.3.6.4.1Japan Off-road Tires Market by Tire Height
10.3.6.4.2Japan Off-road Tires Market by Distribution Channel
10.3.6.4.3Japan Off-road Tires Market by Application
10.3.6.5South Korea Off-road Tires Market
10.3.6.5.1South Korea Off-road Tires Market by Tire Height
10.3.6.5.2South Korea Off-road Tires Market by Distribution Channel
10.3.6.5.3South Korea Off-road Tires Market by Application
10.3.6.6Rest of Asia-Pacific Off-road Tires Market
10.3.6.6.1Rest of Asia-Pacific Off-road Tires Market by Tire Height
10.3.6.6.2Rest of Asia-Pacific Off-road Tires Market by Distribution Channel
10.3.6.6.3Rest of Asia-Pacific Off-road Tires Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Off-road Tires Market Overview
10.4.2Middle East and Africa Off-road Tires Market Forecasts and Analysis
10.4.3Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Tire Height
10.4.4Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.4.5Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Off-road Tires Market
10.4.6.1.1South Africa Off-road Tires Market by Tire Height
10.4.6.1.2South Africa Off-road Tires Market by Distribution Channel
10.4.6.1.3South Africa Off-road Tires Market by Application
10.4.6.2Saudi Arabia Off-road Tires Market
10.4.6.2.1Saudi Arabia Off-road Tires Market by Tire Height
10.4.6.2.2Saudi Arabia Off-road Tires Market by Distribution Channel
10.4.6.2.3Saudi Arabia Off-road Tires Market by Application
10.4.6.3U.A.E Off-road Tires Market
10.4.6.3.1U.A.E Off-road Tires Market by Tire Height
10.4.6.3.2U.A.E Off-road Tires Market by Distribution Channel
10.4.6.3.3U.A.E Off-road Tires Market by Application
10.4.6.4Rest of Middle East and Africa Off-road Tires Market
10.4.6.4.1Rest of Middle East and Africa Off-road Tires Market by Tire Height
10.4.6.4.2Rest of Middle East and Africa Off-road Tires Market by Distribution Channel
10.4.6.4.3Rest of Middle East and Africa Off-road Tires Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Off-road Tires Market Overview
10.5.2South and Central America Off-road Tires Market Forecasts and Analysis
10.5.3South and Central America Off-road Tires Market Forecasts and Analysis - By Tire Height
10.5.4South and Central America Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.5.5South and Central America Off-road Tires Market Forecasts and Analysis - By Application
10.5.6South and Central America Off-road Tires Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Off-road Tires Market
10.5.6.1.1Brazil Off-road Tires Market by Tire Height
10.5.6.1.2Brazil Off-road Tires Market by Distribution Channel
10.5.6.1.3Brazil Off-road Tires Market by Application
10.5.6.2Argentina Off-road Tires Market
10.5.6.2.1Argentina Off-road Tires Market by Tire Height
10.5.6.2.2Argentina Off-road Tires Market by Distribution Channel
10.5.6.2.3Argentina Off-road Tires Market by Application
10.5.6.3Rest of South and Central America Off-road Tires Market
10.5.6.3.1Rest of South and Central America Off-road Tires Market by Tire Height
10.5.6.3.2Rest of South and Central America Off-road Tires Market by Distribution Channel
10.5.6.3.3Rest of South and Central America Off-road Tires Market by Application
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.OFF-ROAD TIRES MARKET, KEY COMPANY PROFILES
12.1.APOLLO TYRES LIMITED
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.BRIDGESTONE CORPORATION
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.CONTINENTAL AG
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.COOPER TIRE AND RUBBER COMPANY
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.HANKOOK TIRE AND TECHNOLOGY GROUP
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.MICHELIN PIRELLI AND C. 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.THE GOODYEAR TIRE AND RUBBER COMPANY
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.TOYO TIRE CORPORATION
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.YOKOHAMA TIRE CORPORATION
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
13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
1. Apollo Tyres Limited
2. Bridgestone Corporation
3. Continental AG
4. Cooper Tire and Rubber Company
5. Hankook Tire and Technology Group
6. Michelin Pirelli and C. S.p.A.
7. The Goodyear Tire and Rubber Company
8. Toyo Tire Corporation
9. Yokohama Tire Corporation
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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