Offshore wind turbines are used in wind farms construction, off the shore, or on the continental shelf to harvest wind energy for electricity generation. Offshore wind power includes inshore water areas such as lakes fjords, and sheltered coastal areas, which use conventional fixed bottom wind turbine technologies, and the deep water regions use floating wind turbines. The increasing investment in the renewable energy sector is the primary factor propelling the offshore wind turbine market growth.
MARKET DYNAMICS
Increasing energy demand, the growing trend of industrialization, and increased urbanization regulations on energy efficiency are the prime factors driving the growth of the offshore wind turbine market. However, heavy investment for the production and installation of offshore wind turbines is the major factor that may restrain the growth of the offshore wind turbine market. The increase in investment for construction of new wind farms, refinancing operations and project acquisitions, and are anticipated to boost the offshore wind turbine market.
MARKET SCOPE
The "Global Offshore Wind Turbines Market Analysis to 2031" is a specialized and in-depth study of the offshore wind turbines market with a special focus on the global market trend analysis. The report aims to provide an overview of offshore wind turbines market with detailed market segmentation by foundation type, location proximity, capacity. The global offshore wind turbines market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading offshore wind turbines market players and offers key trends and opportunities in the offshore wind turbines market.
MARKET SEGMENTATION
The global offshore wind turbines market is segmented on the basis of foundation type, location proximity, capacity. On the basis of foundation type, the market is segmented as monopile, jacket, tripod, floating, others. On the basis of location proximity, the market is segmented as shallow water, transitional water, ultra-transitional water. On the basis of capacity, the market is segmented as 1 MW, 1-3 MW, 3-5 MW, 5 MW, above.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global offshore wind turbines market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The offshore wind turbines market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting offshore wind turbines market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the offshore wind turbines market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global offshore wind turbines market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The offshore wind turbines market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting offshore wind turbines market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the offshore wind turbines market in these regions.
MARKET PLAYERS
The reports cover key developments in the offshore wind turbines 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 partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from offshore wind turbines market are anticipated to lucrative growth opportunities in the future with the rising demand for offshore wind turbines market. Below mentioned is the list of few companies engaged in the offshore wind turbines market.
The report also includes the profiles of key offshore wind turbines market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- GENERAL ELECTRIC
- Goldwind Science Technology Co., Ltd.
- MHI Vestas Offshore Wind
- Mingyang Smart Energy
- Ørsted A/S
- Senvion Deutschland GmbH
- Siemens Gamesa Renewable Energy, S.A.,
- Vestas
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Offshore Wind Turbines Market - By Foundation Type
1.3.2 Offshore Wind Turbines Market - By Location Proximity
1.3.3 Offshore Wind Turbines Market - By Capacity
1.3.4 Offshore Wind Turbines Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OFFSHORE WIND TURBINES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. OFFSHORE WIND TURBINES 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. OFFSHORE WIND TURBINES MARKET - GLOBAL MARKET ANALYSIS
6.1. OFFSHORE WIND TURBINES - GLOBAL MARKET OVERVIEW
6.2. OFFSHORE WIND TURBINES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OFFSHORE WIND TURBINES MARKET - REVENUE AND FORECASTS TO 2028 - FOUNDATION TYPE
7.1. OVERVIEW
7.2. FOUNDATION TYPE MARKET FORECASTS AND ANALYSIS
7.3. MONOPILE
7.3.1. Overview
7.3.2. Monopile Market Forecast and Analysis
7.4. JACKET
7.4.1. Overview
7.4.2. Jacket Market Forecast and Analysis
7.5. TRIPOD
7.5.1. Overview
7.5.2. Tripod Market Forecast and Analysis
7.6. FLOATING
7.6.1. Overview
7.6.2. Floating Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. OFFSHORE WIND TURBINES MARKET - REVENUE AND FORECASTS TO 2028 - LOCATION PROXIMITY
8.1. OVERVIEW
8.2. LOCATION PROXIMITY MARKET FORECASTS AND ANALYSIS
8.3. SHALLOW WATER
8.3.1. Overview
8.3.2. Shallow Water Market Forecast and Analysis
8.4. TRANSITIONAL WATER
8.4.1. Overview
8.4.2. Transitional Water Market Forecast and Analysis
8.5. ULTRA-TRANSITIONAL WATER
8.5.1. Overview
8.5.2. Ultra-transitional Water Market Forecast and Analysis
9. OFFSHORE WIND TURBINES MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
9.1. OVERVIEW
9.2. CAPACITY MARKET FORECASTS AND ANALYSIS
9.3. 1 MW
9.3.1. Overview
9.3.2. 1 MW Market Forecast and Analysis
9.4. 1-3 MW
9.4.1. Overview
9.4.2. 1-3 MW Market Forecast and Analysis
9.5. 3-5 MW
9.5.1. Overview
9.5.2. 3-5 MW Market Forecast and Analysis
9.6. 5 MW
9.6.1. Overview
9.6.2. 5 MW Market Forecast and Analysis
9.7. ABOVE
9.7.1. Overview
9.7.2. Above Market Forecast and Analysis
10. OFFSHORE WIND TURBINES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Offshore Wind Turbines Market Overview
10.1.2 North America Offshore Wind Turbines Market Forecasts and Analysis
10.1.3 North America Offshore Wind Turbines Market Forecasts and Analysis - By Foundation Type
10.1.4 North America Offshore Wind Turbines Market Forecasts and Analysis - By Location Proximity
10.1.5 North America Offshore Wind Turbines Market Forecasts and Analysis - By Capacity
10.1.6 North America Offshore Wind Turbines Market Forecasts and Analysis - By Countries
10.1.6.1 United States Offshore Wind Turbines Market
10.1.6.1.1 United States Offshore Wind Turbines Market by Foundation Type
10.1.6.1.2 United States Offshore Wind Turbines Market by Location Proximity
10.1.6.1.3 United States Offshore Wind Turbines Market by Capacity
10.1.6.2 Canada Offshore Wind Turbines Market
10.1.6.2.1 Canada Offshore Wind Turbines Market by Foundation Type
10.1.6.2.2 Canada Offshore Wind Turbines Market by Location Proximity
10.1.6.2.3 Canada Offshore Wind Turbines Market by Capacity
10.1.6.3 Mexico Offshore Wind Turbines Market
10.1.6.3.1 Mexico Offshore Wind Turbines Market by Foundation Type
10.1.6.3.2 Mexico Offshore Wind Turbines Market by Location Proximity
10.1.6.3.3 Mexico Offshore Wind Turbines Market by Capacity
10.2. EUROPE
10.2.1 Europe Offshore Wind Turbines Market Overview
10.2.2 Europe Offshore Wind Turbines Market Forecasts and Analysis
10.2.3 Europe Offshore Wind Turbines Market Forecasts and Analysis - By Foundation Type
10.2.4 Europe Offshore Wind Turbines Market Forecasts and Analysis - By Location Proximity
10.2.5 Europe Offshore Wind Turbines Market Forecasts and Analysis - By Capacity
10.2.6 Europe Offshore Wind Turbines Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Offshore Wind Turbines Market
10.2.6.1.1 Germany Offshore Wind Turbines Market by Foundation Type
10.2.6.1.2 Germany Offshore Wind Turbines Market by Location Proximity
10.2.6.1.3 Germany Offshore Wind Turbines Market by Capacity
10.2.6.2 France Offshore Wind Turbines Market
10.2.6.2.1 France Offshore Wind Turbines Market by Foundation Type
10.2.6.2.2 France Offshore Wind Turbines Market by Location Proximity
10.2.6.2.3 France Offshore Wind Turbines Market by Capacity
10.2.6.3 Italy Offshore Wind Turbines Market
10.2.6.3.1 Italy Offshore Wind Turbines Market by Foundation Type
10.2.6.3.2 Italy Offshore Wind Turbines Market by Location Proximity
10.2.6.3.3 Italy Offshore Wind Turbines Market by Capacity
10.2.6.4 United Kingdom Offshore Wind Turbines Market
10.2.6.4.1 United Kingdom Offshore Wind Turbines Market by Foundation Type
10.2.6.4.2 United Kingdom Offshore Wind Turbines Market by Location Proximity
10.2.6.4.3 United Kingdom Offshore Wind Turbines Market by Capacity
10.2.6.5 Russia Offshore Wind Turbines Market
10.2.6.5.1 Russia Offshore Wind Turbines Market by Foundation Type
10.2.6.5.2 Russia Offshore Wind Turbines Market by Location Proximity
10.2.6.5.3 Russia Offshore Wind Turbines Market by Capacity
10.2.6.6 Rest of Europe Offshore Wind Turbines Market
10.2.6.6.1 Rest of Europe Offshore Wind Turbines Market by Foundation Type
10.2.6.6.2 Rest of Europe Offshore Wind Turbines Market by Location Proximity
10.2.6.6.3 Rest of Europe Offshore Wind Turbines Market by Capacity
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Offshore Wind Turbines Market Overview
10.3.2 Asia-Pacific Offshore Wind Turbines Market Forecasts and Analysis
10.3.3 Asia-Pacific Offshore Wind Turbines Market Forecasts and Analysis - By Foundation Type
10.3.4 Asia-Pacific Offshore Wind Turbines Market Forecasts and Analysis - By Location Proximity
10.3.5 Asia-Pacific Offshore Wind Turbines Market Forecasts and Analysis - By Capacity
10.3.6 Asia-Pacific Offshore Wind Turbines Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Offshore Wind Turbines Market
10.3.6.1.1 Australia Offshore Wind Turbines Market by Foundation Type
10.3.6.1.2 Australia Offshore Wind Turbines Market by Location Proximity
10.3.6.1.3 Australia Offshore Wind Turbines Market by Capacity
10.3.6.2 China Offshore Wind Turbines Market
10.3.6.2.1 China Offshore Wind Turbines Market by Foundation Type
10.3.6.2.2 China Offshore Wind Turbines Market by Location Proximity
10.3.6.2.3 China Offshore Wind Turbines Market by Capacity
10.3.6.3 India Offshore Wind Turbines Market
10.3.6.3.1 India Offshore Wind Turbines Market by Foundation Type
10.3.6.3.2 India Offshore Wind Turbines Market by Location Proximity
10.3.6.3.3 India Offshore Wind Turbines Market by Capacity
10.3.6.4 Japan Offshore Wind Turbines Market
10.3.6.4.1 Japan Offshore Wind Turbines Market by Foundation Type
10.3.6.4.2 Japan Offshore Wind Turbines Market by Location Proximity
10.3.6.4.3 Japan Offshore Wind Turbines Market by Capacity
10.3.6.5 South Korea Offshore Wind Turbines Market
10.3.6.5.1 South Korea Offshore Wind Turbines Market by Foundation Type
10.3.6.5.2 South Korea Offshore Wind Turbines Market by Location Proximity
10.3.6.5.3 South Korea Offshore Wind Turbines Market by Capacity
10.3.6.6 Rest of Asia-Pacific Offshore Wind Turbines Market
10.3.6.6.1 Rest of Asia-Pacific Offshore Wind Turbines Market by Foundation Type
10.3.6.6.2 Rest of Asia-Pacific Offshore Wind Turbines Market by Location Proximity
10.3.6.6.3 Rest of Asia-Pacific Offshore Wind Turbines Market by Capacity
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Offshore Wind Turbines Market Overview
10.4.2 Middle East and Africa Offshore Wind Turbines Market Forecasts and Analysis
10.4.3 Middle East and Africa Offshore Wind Turbines Market Forecasts and Analysis - By Foundation Type
10.4.4 Middle East and Africa Offshore Wind Turbines Market Forecasts and Analysis - By Location Proximity
10.4.5 Middle East and Africa Offshore Wind Turbines Market Forecasts and Analysis - By Capacity
10.4.6 Middle East and Africa Offshore Wind Turbines Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Offshore Wind Turbines Market
10.4.6.1.1 South Africa Offshore Wind Turbines Market by Foundation Type
10.4.6.1.2 South Africa Offshore Wind Turbines Market by Location Proximity
10.4.6.1.3 South Africa Offshore Wind Turbines Market by Capacity
10.4.6.2 Saudi Arabia Offshore Wind Turbines Market
10.4.6.2.1 Saudi Arabia Offshore Wind Turbines Market by Foundation Type
10.4.6.2.2 Saudi Arabia Offshore Wind Turbines Market by Location Proximity
10.4.6.2.3 Saudi Arabia Offshore Wind Turbines Market by Capacity
10.4.6.3 U.A.E Offshore Wind Turbines Market
10.4.6.3.1 U.A.E Offshore Wind Turbines Market by Foundation Type
10.4.6.3.2 U.A.E Offshore Wind Turbines Market by Location Proximity
10.4.6.3.3 U.A.E Offshore Wind Turbines Market by Capacity
10.4.6.4 Rest of Middle East and Africa Offshore Wind Turbines Market
10.4.6.4.1 Rest of Middle East and Africa Offshore Wind Turbines Market by Foundation Type
10.4.6.4.2 Rest of Middle East and Africa Offshore Wind Turbines Market by Location Proximity
10.4.6.4.3 Rest of Middle East and Africa Offshore Wind Turbines Market by Capacity
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Offshore Wind Turbines Market Overview
10.5.2 South and Central America Offshore Wind Turbines Market Forecasts and Analysis
10.5.3 South and Central America Offshore Wind Turbines Market Forecasts and Analysis - By Foundation Type
10.5.4 South and Central America Offshore Wind Turbines Market Forecasts and Analysis - By Location Proximity
10.5.5 South and Central America Offshore Wind Turbines Market Forecasts and Analysis - By Capacity
10.5.6 South and Central America Offshore Wind Turbines Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Offshore Wind Turbines Market
10.5.6.1.1 Brazil Offshore Wind Turbines Market by Foundation Type
10.5.6.1.2 Brazil Offshore Wind Turbines Market by Location Proximity
10.5.6.1.3 Brazil Offshore Wind Turbines Market by Capacity
10.5.6.2 Argentina Offshore Wind Turbines Market
10.5.6.2.1 Argentina Offshore Wind Turbines Market by Foundation Type
10.5.6.2.2 Argentina Offshore Wind Turbines Market by Location Proximity
10.5.6.2.3 Argentina Offshore Wind Turbines Market by Capacity
10.5.6.3 Rest of South and Central America Offshore Wind Turbines Market
10.5.6.3.1 Rest of South and Central America Offshore Wind Turbines Market by Foundation Type
10.5.6.3.2 Rest of South and Central America Offshore Wind Turbines Market by Location Proximity
10.5.6.3.3 Rest of South and Central America Offshore Wind Turbines Market by Capacity
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. OFFSHORE WIND TURBINES MARKET, KEY COMPANY PROFILES
12.1. GENERAL ELECTRIC
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. GOLDWIND SCIENCE TECHNOLOGY CO., 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. MHI VESTAS OFFSHORE WIND
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. MINGYANG SMART ENERGY
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. ØRSTED A/S
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. SENVION DEUTSCHLAND GMBH
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. SIEMENS GAMESA RENEWABLE ENERGY, S.A.,
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. VESTAS
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. GENERAL ELECTRIC
2. Goldwind Science Technology Co., Ltd.
3. MHI Vestas Offshore Wind
4. Mingyang Smart Energy
5. Ørsted A/S
6. Senvion Deutschland GmbH
7. Siemens Gamesa Renewable Energy, S.A.,
8. Vestas
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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