Oil Refining Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Oil Refining Market covers analysis By Complexity (Topping, Conversion, Deep Conversion); Fuel Type (Gasoline, Kerosene, LPG, Others); Application (Transportation, Aviation, Petrochemical, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00027561
  • Category : Energy and Power
  • No. of Pages : 150
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Oil Refining Market Insights and Growth by 2031

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MARKET INTRODUCTION
Oil refining is a process in which crude oil is transformed using a series of processes in a refinery into products such as fuel, gasoline, lubricants, etc. Oil refining is a three stage process in which separation, conversion and treatment are carried out. Heat is applied to the crude, which is sent to a distillation tower and separated by boiling point.

MARKET SCOPE
The "Global Oil Refining Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the Oil Refining Market with detailed market segmentation into by type, by application, and by region. The Oil Refining Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Oil Refining Market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION
The Oil Refining Market has been segmented into by complexity, by fuel type, and by application type. By complexity the market has been bifurcated into topping, conversion and deep conversion. By fuel type the market has been bifurcated into gasoline, kerosene, LPG and others. By application the market has been bifurcated into transportation, aviation, petrochemical and others.

MARKET DYNAMICS
Growth Factors
  •  Increasing demand for petroleum products
  •  Rise in use of vehicles in developing countries
  •  Increase in expenditure of refinery infrastructure
    Restraints
  •  Adoption of clean fuel

    REGIONAL FRAMEWORK
    The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Oil Refining Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

    The report analyzes factors affecting the Oil Refining Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the Oil Refining Market in these regions.
    Impact of Covid 19 on Oil Refining Market
    The COVID-19 pandemic has negatively affected the market due to a reduction in consumption of refined petroleum products and declining economic development across the major nations of the world. The rise in the number of Covid 19 cases led to mass lockdowns and restrictions imposed by several governments and regulatory bodies. Falling crude oil prices and decreasing demand have created inventory problems in both the distribution network and the refineries. However, there is expected to be a growth in the Oil Refining Market in the coming years as lockdowns have been lifted and increasing demand of petroleum products in coming years.

    World Geography

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    MARKET PLAYERS

    The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Oil Refining Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

    The report analyzes factors affecting the Oil Refining Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the Oil Refining Market in these regions.
    Impact of Covid 19 on Oil Refining Market
    The COVID-19 pandemic has negatively affected the market due to a reduction in consumption of refined petroleum products and declining economic development across the major nations of the world. The rise in the number of Covid 19 cases led to mass lockdowns and restrictions imposed by several governments and regulatory bodies. Falling crude oil prices and decreasing demand have created inventory problems in both the distribution network and the refineries. However, there is expected to be a growth in the Oil Refining Market in the coming years as lockdowns have been lifted and increasing demand of petroleum products in coming years.

    MARKET PLAYERS
    The report covers vital developments in the Oil Refining Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the Oil Refining Market are anticipated to have lucrative growth opportunities in the future with the rising demand for Oil Refining Market. Below mentioned is the list of a few companies engaged in the Oil Refining Market.
    The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Oil Refining Market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.

    •  Indian Oil
    •  Chevron
    •  Shell
    •  Exxon Mobil
    •  Kuwait Petroleum International
    •  Essar Oil
    •  China National Petroleum Corporation
    •  Total SA
    •  Abu Dhabi National Oil Company
    •  Kuwait Petroleum
      • 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
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    TABLE OF CONTENTS

    1.INTRODUCTION
    1.1.SCOPE OF THE STUDY
    1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
    1.3.MARKET SEGMENTATION
    1.3.1Oil Refining Market - By Complexity
    1.3.2Oil Refining Market - By Fuel Type
    1.3.3Oil Refining Market - By Application
    1.3.4Oil Refining Market - By Region
    1.3.4.1By Country

    2.KEY TAKEAWAYS

    3.RESEARCH METHODOLOGY

    4.OIL REFINING 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.EXPERT OPINIONS

    5.OIL REFINING 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.OIL REFINING MARKET - GLOBAL MARKET ANALYSIS
    6.1.OIL REFINING - GLOBAL MARKET OVERVIEW
    6.2.OIL REFINING - GLOBAL MARKET AND FORECAST TO 2028
    6.3.MARKET POSITIONING

    7.OIL REFINING MARKET - REVENUE AND FORECASTS TO 2028 " COMPLEXITY
    7.1.OVERVIEW
    7.2.COMPLEXITY MARKET FORECASTS AND ANALYSIS
    7.3.TOPPING
    7.3.1.Overview
    7.3.2.Topping Market Forecast and Analysis
    7.4.CONVERSION
    7.4.1.Overview
    7.4.2.Conversion Market Forecast and Analysis
    7.5.DEEP CONVERSION
    7.5.1.Overview
    7.5.2.Deep Conversion Market Forecast and Analysis
    8.OIL REFINING MARKET - REVENUE AND FORECASTS TO 2028 " FUEL TYPE
    8.1.OVERVIEW
    8.2.FUEL TYPE MARKET FORECASTS AND ANALYSIS
    8.3.GASOLINE
    8.3.1.Overview
    8.3.2.Gasoline Market Forecast and Analysis
    8.4.KEROSENE
    8.4.1.Overview
    8.4.2.Kerosene Market Forecast and Analysis
    8.5.LPG
    8.5.1.Overview
    8.5.2.LPG Market Forecast and Analysis
    8.6.OTHERS
    8.6.1.Overview
    8.6.2.Others Market Forecast and Analysis
    9.OIL REFINING MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
    9.1.OVERVIEW
    9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
    9.3.TRANSPORTATION
    9.3.1.Overview
    9.3.2.Transportation Market Forecast and Analysis
    9.4.AVIATION
    9.4.1.Overview
    9.4.2.Aviation Market Forecast and Analysis
    9.5.PETROCHEMICAL
    9.5.1.Overview
    9.5.2.Petrochemical Market Forecast and Analysis
    9.6.OTHERS
    9.6.1.Overview
    9.6.2.Others Market Forecast and Analysis

    10.OIL REFINING MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
    10.1.NORTH AMERICA
    10.1.1North America Oil Refining Market Overview
    10.1.2North America Oil Refining Market Forecasts and Analysis
    10.1.3North America Oil Refining Market Forecasts and Analysis - By Complexity
    10.1.4North America Oil Refining Market Forecasts and Analysis - By Fuel Type
    10.1.5North America Oil Refining Market Forecasts and Analysis - By Application
    10.1.6North America Oil Refining Market Forecasts and Analysis - By Countries
    10.1.6.1United States Oil Refining Market
    10.1.6.1.1United States Oil Refining Market by Complexity
    10.1.6.1.2United States Oil Refining Market by Fuel Type
    10.1.6.1.3United States Oil Refining Market by Application
    10.1.6.2Canada Oil Refining Market
    10.1.6.2.1Canada Oil Refining Market by Complexity
    10.1.6.2.2Canada Oil Refining Market by Fuel Type
    10.1.6.2.3Canada Oil Refining Market by Application
    10.1.6.3Mexico Oil Refining Market
    10.1.6.3.1Mexico Oil Refining Market by Complexity
    10.1.6.3.2Mexico Oil Refining Market by Fuel Type
    10.1.6.3.3Mexico Oil Refining Market by Application
    10.2.EUROPE
    10.2.1Europe Oil Refining Market Overview
    10.2.2Europe Oil Refining Market Forecasts and Analysis
    10.2.3Europe Oil Refining Market Forecasts and Analysis - By Complexity
    10.2.4Europe Oil Refining Market Forecasts and Analysis - By Fuel Type
    10.2.5Europe Oil Refining Market Forecasts and Analysis - By Application
    10.2.6Europe Oil Refining Market Forecasts and Analysis - By Countries
    10.2.6.1Germany Oil Refining Market
    10.2.6.1.1Germany Oil Refining Market by Complexity
    10.2.6.1.2Germany Oil Refining Market by Fuel Type
    10.2.6.1.3Germany Oil Refining Market by Application
    10.2.6.2France Oil Refining Market
    10.2.6.2.1France Oil Refining Market by Complexity
    10.2.6.2.2France Oil Refining Market by Fuel Type
    10.2.6.2.3France Oil Refining Market by Application
    10.2.6.3Italy Oil Refining Market
    10.2.6.3.1Italy Oil Refining Market by Complexity
    10.2.6.3.2Italy Oil Refining Market by Fuel Type
    10.2.6.3.3Italy Oil Refining Market by Application
    10.2.6.4Spain Oil Refining Market
    10.2.6.4.1Spain Oil Refining Market by Complexity
    10.2.6.4.2Spain Oil Refining Market by Fuel Type
    10.2.6.4.3Spain Oil Refining Market by Application
    10.2.6.5United Kingdom Oil Refining Market
    10.2.6.5.1United Kingdom Oil Refining Market by Complexity
    10.2.6.5.2United Kingdom Oil Refining Market by Fuel Type
    10.2.6.5.3United Kingdom Oil Refining Market by Application
    10.2.6.6Russia Oil Refining Market
    10.2.6.6.1Russia Oil Refining Market by Complexity
    10.2.6.6.2Russia Oil Refining Market by Fuel Type
    10.2.6.6.3Russia Oil Refining Market by Application
    10.2.6.7Rest of Europe Oil Refining Market
    10.2.6.7.1Rest of Europe Oil Refining Market by Complexity
    10.2.6.7.2Rest of Europe Oil Refining Market by Fuel Type
    10.2.6.7.3Rest of Europe Oil Refining Market by Application
    10.3.ASIA-PACIFIC
    10.3.1Asia-Pacific Oil Refining Market Overview
    10.3.2Asia-Pacific Oil Refining Market Forecasts and Analysis
    10.3.3Asia-Pacific Oil Refining Market Forecasts and Analysis - By Complexity
    10.3.4Asia-Pacific Oil Refining Market Forecasts and Analysis - By Fuel Type
    10.3.5Asia-Pacific Oil Refining Market Forecasts and Analysis - By Application
    10.3.6Asia-Pacific Oil Refining Market Forecasts and Analysis - By Countries
    10.3.6.1Australia Oil Refining Market
    10.3.6.1.1Australia Oil Refining Market by Complexity
    10.3.6.1.2Australia Oil Refining Market by Fuel Type
    10.3.6.1.3Australia Oil Refining Market by Application
    10.3.6.2China Oil Refining Market
    10.3.6.2.1China Oil Refining Market by Complexity
    10.3.6.2.2China Oil Refining Market by Fuel Type
    10.3.6.2.3China Oil Refining Market by Application
    10.3.6.3India Oil Refining Market
    10.3.6.3.1India Oil Refining Market by Complexity
    10.3.6.3.2India Oil Refining Market by Fuel Type
    10.3.6.3.3India Oil Refining Market by Application
    10.3.6.4Japan Oil Refining Market
    10.3.6.4.1Japan Oil Refining Market by Complexity
    10.3.6.4.2Japan Oil Refining Market by Fuel Type
    10.3.6.4.3Japan Oil Refining Market by Application
    10.3.6.5South Korea Oil Refining Market
    10.3.6.5.1South Korea Oil Refining Market by Complexity
    10.3.6.5.2South Korea Oil Refining Market by Fuel Type
    10.3.6.5.3South Korea Oil Refining Market by Application
    10.3.6.6Rest of Asia-Pacific Oil Refining Market
    10.3.6.6.1Rest of Asia-Pacific Oil Refining Market by Complexity
    10.3.6.6.2Rest of Asia-Pacific Oil Refining Market by Fuel Type
    10.3.6.6.3Rest of Asia-Pacific Oil Refining Market by Application
    10.4.MIDDLE EAST AND AFRICA
    10.4.1Middle East and Africa Oil Refining Market Overview
    10.4.2Middle East and Africa Oil Refining Market Forecasts and Analysis
    10.4.3Middle East and Africa Oil Refining Market Forecasts and Analysis - By Complexity
    10.4.4Middle East and Africa Oil Refining Market Forecasts and Analysis - By Fuel Type
    10.4.5Middle East and Africa Oil Refining Market Forecasts and Analysis - By Application
    10.4.6Middle East and Africa Oil Refining Market Forecasts and Analysis - By Countries
    10.4.6.1South Africa Oil Refining Market
    10.4.6.1.1South Africa Oil Refining Market by Complexity
    10.4.6.1.2South Africa Oil Refining Market by Fuel Type
    10.4.6.1.3South Africa Oil Refining Market by Application
    10.4.6.2Saudi Arabia Oil Refining Market
    10.4.6.2.1Saudi Arabia Oil Refining Market by Complexity
    10.4.6.2.2Saudi Arabia Oil Refining Market by Fuel Type
    10.4.6.2.3Saudi Arabia Oil Refining Market by Application
    10.4.6.3U.A.E Oil Refining Market
    10.4.6.3.1U.A.E Oil Refining Market by Complexity
    10.4.6.3.2U.A.E Oil Refining Market by Fuel Type
    10.4.6.3.3U.A.E Oil Refining Market by Application
    10.4.6.4Rest of Middle East and Africa Oil Refining Market
    10.4.6.4.1Rest of Middle East and Africa Oil Refining Market by Complexity
    10.4.6.4.2Rest of Middle East and Africa Oil Refining Market by Fuel Type
    10.4.6.4.3Rest of Middle East and Africa Oil Refining Market by Application
    10.5.SOUTH AND CENTRAL AMERICA
    10.5.1South and Central America Oil Refining Market Overview
    10.5.2South and Central America Oil Refining Market Forecasts and Analysis
    10.5.3South and Central America Oil Refining Market Forecasts and Analysis - By Complexity
    10.5.4South and Central America Oil Refining Market Forecasts and Analysis - By Fuel Type
    10.5.5South and Central America Oil Refining Market Forecasts and Analysis - By Application
    10.5.6South and Central America Oil Refining Market Forecasts and Analysis - By Countries
    10.5.6.1Brazil Oil Refining Market
    10.5.6.1.1Brazil Oil Refining Market by Complexity
    10.5.6.1.2Brazil Oil Refining Market by Fuel Type
    10.5.6.1.3Brazil Oil Refining Market by Application
    10.5.6.2Argentina Oil Refining Market
    10.5.6.2.1Argentina Oil Refining Market by Complexity
    10.5.6.2.2Argentina Oil Refining Market by Fuel Type
    10.5.6.2.3Argentina Oil Refining Market by Application
    10.5.6.3Rest of South and Central America Oil Refining Market
    10.5.6.3.1Rest of South and Central America Oil Refining Market by Complexity
    10.5.6.3.2Rest of South and Central America Oil Refining Market by Fuel Type
    10.5.6.3.3Rest of South and Central America Oil Refining 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.OIL REFINING MARKET, KEY COMPANY PROFILES
    12.1.INDIAN OIL
    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.CHEVRON
    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.SHELL
    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.EXXON MOBIL
    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.KUWAIT PETROLEUM INTERNATIONAL
    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.ESSAR OIL
    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.CHINA NATIONAL PETROLEUM CORPORATION
    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.TOTAL SA
    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.ABU DHABI NATIONAL OIL COMPANY
    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.KUWAIT PETROLEUM
    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
    The List of Companies

    1.Indian Oil
    2.Chevron
    3.Shell
    4.Exxon Mobil
    5.Kuwait Petroleum International
    6.Essar Oil
    7.China National Petroleum Corporation
    8.Total SA
    9.Abu Dhabi National Oil Company
    10.Kuwait Petroleum

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. 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.

    1. 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:

    Research Methodology

    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.

    1. 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.

    1. 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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