Precast Construction Market SWOT and PEST Analysis 2021-2031
The Precast Construction Market is expected to register a CAGR of 5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by product (columns and beams, walls, staircases, girders, others), construction type (modular construction, manufactured homes). The report further presents analysis based on end user (residential, non-residential). Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The report offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Precast Construction 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.
Precast Construction Market Segmentation
Product- Columns and beams
- Walls
- Staircases
- Girders
- Others
- Modular Construction
- Manufactured Homes
- Residential
- Non-residential
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Precast Construction Market Growth Drivers- Efficiency and Cost-Effectiveness: The construction process utilizing precast technology allows for achieving a higher degree of economy since works can be performed at the factory. In such way, the perfomance of the work Petri nets construction is minimized as all the elements are made beforehand and only the assemblage system is installed. This efficiency is all the more critical for transport projects that are large in scale since their completion often entails strict timing.
- Reduced Labor and Construction Delays: The use of precast construction eliminates a lot of work that people would have to do on the construction site because the majority of the parts are manufactured in factories. This also reduces the overall pay for labor and cuts off delays because of rains or other site conditions. Also, the controlled working space helps in maintaining standards which thereby cuts down on wastage and expensive mistakes in the construction process.
- Environmental Sustainability: Environmental sustainability is yet another advantage offered by precast construction over normal building methods. Waste generation is minimized and energy consumption is reduced in the process. The materials also tend to be readily available meaning that there is no need for long-distance transportation which in turn cuts down on carbon emissions. In addition to this, precast components enhance the insulation levels of the building, which helps minimize the energy used within the structures that are nowadays proactive in green construction.
- Integration of Advanced Digital Technologies: The precast construction market is adopting advanced digital technologies such as Building Information Modeling (BIM), and 3D printing for the design, planning, and manufacturing processes. Such advancements enable more accurate building processes with fewer mistakes, thus improving the overall processes of precast construction which in turn allows for more in-depth and intricate designs.
- Urbanization and Infrastructure Development: Because of the rapid rate of urbanization and the growing need for infrastructural development, the precast construction market is on the rise. As observed, precast elements are basically for massive urbanization projects such as high rise buildings, bridges and transportation systems due to the technology’s abilities of speed, strength and low cost in relation to the ever increasing urban demands.
- Sustainability in Construction: Sustainability in the construction sector is becoming an imperative; hence the rising preference for precast elements. Aspects such as energy efficiency, recyclability of precast concrete along with less waste during production will suit and encourage the green building ethos spreading across countries hence the construction industry altering its practices towards environmental friendly ones.
- Growing Demand in Developing Regions: With the increased spending on infrastructure projects in the developing world, there is a rising demand towards precast construction. In these regions, there is a need for quick and affordable housing, transportation and commercial centers. Precast construction provides the scalability and the quick delivery which are appropriate for the rising changes in the developing countries.
- Integration with Smart City Technologies: Additionally with smart cities on the rise, precast construction has the added advantage of incorporating and working with IoT devices. Nowadays, it is possible to pulp precast units with sensors, which enables structural health monitoring along with better woods upkeep and safety - a remarkable know-how indeed for contemporary hardware-and-software infrastructure projects.
- Sustainability and Green Building Practices: While in the world, sustainability becomes a key issue, very large scale commercially useful precast offers hope. Its production is energy efficient and in addition, it is durable and recyclable. All this answers the increasing need for green building materials in construction projects, and therefore this technology is favorable for all green building certifications and eco-friendly construction.With the increased spending on infrastructure projects in the developing world, there is a rising demand towards precast construction. In these regions, there is a need for quick and affordable housing, transportation and commercial centers. Precast construction provides the scalability and the quick delivery which are appropriate for the rising changes in the developing countries.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Precast Construction 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 Precast Construction 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.
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- 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 Precast Construction Market is estimated to witness a CAGR of 5% from 2023 to 2031
Precast construction offers significant time-saving advantages due to its off-site manufacturing process. This factor driving demand for precast constructions market growth.
There is a growing trend toward sustainability in construction.
Cemex S.A.B. de C.V., CNBM International Engineering Co., Ltd., Coltman Precast Concrete Limited, CRH, Elematic, Forterra Building Products Limited, Julius Berger Nigeria Plc., L and T Construction, LafargeHolcim, Taisei Corporation are the key players operating in the precast construction market.
Based on geography, North America held the largest share of the precast construction market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Precast Construction Market - By Product
1.3.2 Precast Construction Market - By Construction Type
1.3.3 Precast Construction Market - By End-Use Industry
1.3.4 Precast Construction Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PRECAST CONSTRUCTION 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. PRECAST CONSTRUCTION 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. PRECAST CONSTRUCTION MARKET - GLOBAL MARKET ANALYSIS
6.1. PRECAST CONSTRUCTION - GLOBAL MARKET OVERVIEW
6.2. PRECAST CONSTRUCTION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PRECAST CONSTRUCTION MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. COLUMNS AND BEAMS
7.3.1. Overview
7.3.2. Columns and beams Market Forecast and Analysis
7.4. WALLS
7.4.1. Overview
7.4.2. Walls Market Forecast and Analysis
7.5. STAIRCASES
7.5.1. Overview
7.5.2. Staircases Market Forecast and Analysis
7.6. GIRDERS
7.6.1. Overview
7.6.2. Girders Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. PRECAST CONSTRUCTION MARKET - REVENUE AND FORECASTS TO 2028 - CONSTRUCTION TYPE
8.1. OVERVIEW
8.2. CONSTRUCTION TYPE MARKET FORECASTS AND ANALYSIS
8.3. MODULAR CONSTRUCTION
8.3.1. Overview
8.3.2. Modular Construction Market Forecast and Analysis
8.4. MANUFACTURED HOMES
8.4.1. Overview
8.4.2. Manufactured Homes Market Forecast and Analysis
9. PRECAST CONSTRUCTION MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. NON-RESIDENTIAL
9.4.1. Overview
9.4.2. Non-residential Market Forecast and Analysis
10. PRECAST CONSTRUCTION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Precast Construction Market Overview
10.1.2 North America Precast Construction Market Forecasts and Analysis
10.1.3 North America Precast Construction Market Forecasts and Analysis - By Product
10.1.4 North America Precast Construction Market Forecasts and Analysis - By Construction Type
10.1.5 North America Precast Construction Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Precast Construction Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Precast Construction Market
10.1.6.1.1 Canada Precast Construction Market by Product
10.1.6.1.2 Canada Precast Construction Market by Construction Type
10.1.6.1.3 Canada Precast Construction Market by End-Use Industry
10.1.6.2 Mexico Precast Construction Market
10.1.6.2.1 Mexico Precast Construction Market by Product
10.1.6.2.2 Mexico Precast Construction Market by Construction Type
10.1.6.2.3 Mexico Precast Construction Market by End-Use Industry
10.1.6.3 US Precast Construction Market
10.1.6.3.1 US Precast Construction Market by Product
10.1.6.3.2 US Precast Construction Market by Construction Type
10.1.6.3.3 US Precast Construction Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Precast Construction Market Overview
10.2.2 Europe Precast Construction Market Forecasts and Analysis
10.2.3 Europe Precast Construction Market Forecasts and Analysis - By Product
10.2.4 Europe Precast Construction Market Forecasts and Analysis - By Construction Type
10.2.5 Europe Precast Construction Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Precast Construction Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Precast Construction Market
10.2.6.1.1 Germany Precast Construction Market by Product
10.2.6.1.2 Germany Precast Construction Market by Construction Type
10.2.6.1.3 Germany Precast Construction Market by End-Use Industry
10.2.6.2 France Precast Construction Market
10.2.6.2.1 France Precast Construction Market by Product
10.2.6.2.2 France Precast Construction Market by Construction Type
10.2.6.2.3 France Precast Construction Market by End-Use Industry
10.2.6.3 Italy Precast Construction Market
10.2.6.3.1 Italy Precast Construction Market by Product
10.2.6.3.2 Italy Precast Construction Market by Construction Type
10.2.6.3.3 Italy Precast Construction Market by End-Use Industry
10.2.6.4 United Kingdom Precast Construction Market
10.2.6.4.1 United Kingdom Precast Construction Market by Product
10.2.6.4.2 United Kingdom Precast Construction Market by Construction Type
10.2.6.4.3 United Kingdom Precast Construction Market by End-Use Industry
10.2.6.5 Russia Precast Construction Market
10.2.6.5.1 Russia Precast Construction Market by Product
10.2.6.5.2 Russia Precast Construction Market by Construction Type
10.2.6.5.3 Russia Precast Construction Market by End-Use Industry
10.2.6.6 Rest of Europe Precast Construction Market
10.2.6.6.1 Rest of Europe Precast Construction Market by Product
10.2.6.6.2 Rest of Europe Precast Construction Market by Construction Type
10.2.6.6.3 Rest of Europe Precast Construction Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Precast Construction Market Overview
10.3.2 Asia-Pacific Precast Construction Market Forecasts and Analysis
10.3.3 Asia-Pacific Precast Construction Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Precast Construction Market Forecasts and Analysis - By Construction Type
10.3.5 Asia-Pacific Precast Construction Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Precast Construction Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Precast Construction Market
10.3.6.1.1 Australia Precast Construction Market by Product
10.3.6.1.2 Australia Precast Construction Market by Construction Type
10.3.6.1.3 Australia Precast Construction Market by End-Use Industry
10.3.6.2 China Precast Construction Market
10.3.6.2.1 China Precast Construction Market by Product
10.3.6.2.2 China Precast Construction Market by Construction Type
10.3.6.2.3 China Precast Construction Market by End-Use Industry
10.3.6.3 India Precast Construction Market
10.3.6.3.1 India Precast Construction Market by Product
10.3.6.3.2 India Precast Construction Market by Construction Type
10.3.6.3.3 India Precast Construction Market by End-Use Industry
10.3.6.4 Japan Precast Construction Market
10.3.6.4.1 Japan Precast Construction Market by Product
10.3.6.4.2 Japan Precast Construction Market by Construction Type
10.3.6.4.3 Japan Precast Construction Market by End-Use Industry
10.3.6.5 South Korea Precast Construction Market
10.3.6.5.1 South Korea Precast Construction Market by Product
10.3.6.5.2 South Korea Precast Construction Market by Construction Type
10.3.6.5.3 South Korea Precast Construction Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Precast Construction Market
10.3.6.6.1 Rest of Asia-Pacific Precast Construction Market by Product
10.3.6.6.2 Rest of Asia-Pacific Precast Construction Market by Construction Type
10.3.6.6.3 Rest of Asia-Pacific Precast Construction Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Precast Construction Market Overview
10.4.2 Middle East and Africa Precast Construction Market Forecasts and Analysis
10.4.3 Middle East and Africa Precast Construction Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Precast Construction Market Forecasts and Analysis - By Construction Type
10.4.5 Middle East and Africa Precast Construction Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Precast Construction Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Precast Construction Market
10.4.6.1.1 South Africa Precast Construction Market by Product
10.4.6.1.2 South Africa Precast Construction Market by Construction Type
10.4.6.1.3 South Africa Precast Construction Market by End-Use Industry
10.4.6.2 Saudi Arabia Precast Construction Market
10.4.6.2.1 Saudi Arabia Precast Construction Market by Product
10.4.6.2.2 Saudi Arabia Precast Construction Market by Construction Type
10.4.6.2.3 Saudi Arabia Precast Construction Market by End-Use Industry
10.4.6.3 U.A.E Precast Construction Market
10.4.6.3.1 U.A.E Precast Construction Market by Product
10.4.6.3.2 U.A.E Precast Construction Market by Construction Type
10.4.6.3.3 U.A.E Precast Construction Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Precast Construction Market
10.4.6.4.1 Rest of Middle East and Africa Precast Construction Market by Product
10.4.6.4.2 Rest of Middle East and Africa Precast Construction Market by Construction Type
10.4.6.4.3 Rest of Middle East and Africa Precast Construction Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Precast Construction Market Overview
10.5.2 South and Central America Precast Construction Market Forecasts and Analysis
10.5.3 South and Central America Precast Construction Market Forecasts and Analysis - By Product
10.5.4 South and Central America Precast Construction Market Forecasts and Analysis - By Construction Type
10.5.5 South and Central America Precast Construction Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Precast Construction Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Precast Construction Market
10.5.6.1.1 Brazil Precast Construction Market by Product
10.5.6.1.2 Brazil Precast Construction Market by Construction Type
10.5.6.1.3 Brazil Precast Construction Market by End-Use Industry
10.5.6.2 Argentina Precast Construction Market
10.5.6.2.1 Argentina Precast Construction Market by Product
10.5.6.2.2 Argentina Precast Construction Market by Construction Type
10.5.6.2.3 Argentina Precast Construction Market by End-Use Industry
10.5.6.3 Rest of South and Central America Precast Construction Market
10.5.6.3.1 Rest of South and Central America Precast Construction Market by Product
10.5.6.3.2 Rest of South and Central America Precast Construction Market by Construction Type
10.5.6.3.3 Rest of South and Central America Precast Construction Market by End-Use 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. PRECAST CONSTRUCTION MARKET, KEY COMPANY PROFILES
12.1. CEMEX S.A.B. DE C.V.
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. CNBM INTERNATIONAL ENGINEERING 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. COLTMAN PRECAST CONCRETE LIMITED
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. CRH
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. ELEMATIC
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. FORTERRA BUILDING PRODUCTS LIMITED
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. JULIUS BERGER NIGERIA PLC.
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. L AND T CONSTRUCTION
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. LAFARGEHOLCIM
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. TAISEI CORPORATION
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.Cemex S.A.B. de C.V.
2.CNBM International Engineering Co., Ltd.
3.Coltman Precast Concrete Limited
4.CRH
5.Elematic
6.Forterra Building Products Limited
7.Julius Berger Nigeria Plc.
8.L and T Construction
9.LafargeHolcim
10.Taisei 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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