Residential Combined Heat and Power Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The method of generating heat and electricity simultaneously is referred to combined heat and power generation. This is done through burning various fuels such as oil, natural gases and bio fuels. The growing initiatives for the deployment of CHP technologies for enhancing the energy efficiency and the supportive government initiatives to promote cogeneration are the prominent factors responsible for the growth of the residential combined heat and power market. In addition, rise in deployment of micro-CHP systems and growing trend for generating power from distributed power generation creates huge opportunity for gas turbine-based combined heat and power market.
MARKET SCOPE
The "Global Residential Combined Heat and Power Market Analysis to 2028" is a specialized and in-depth study of the cogeneration power with a special focus on the global market trend analysis. The report aims to provide an overview of the residential combined heat and power market with detailed market segmentation by capacity, fuel and geography. The report provides key statistics on the market status of the leading residential combined heat and power market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of capacity the market is segmented into upto 2kW, 3 kW to 10 kW, and 11 kW to 50 kW
- On the basis of fuel, the market is segmented as natural gas, hydrogen, renewable resources, and others
- On the basis of prime mover, the market is segmented as gas turbine, steam turbine, reciprocating engine, fuel cell, microturbine, and others
Drivers:
- Government incentives and favorable policies promotes combined heat power generation
- Significant benefits of combined heat power systems drive the market growth
- Increased installation and maintenance costs of CHP systems restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The residential combined heat and power 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 market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the residential combined heat and power market in these regions.
IMPACT OF COVID-19 ON RESIDENTIAL COMBINED HEAT AND POWER MARKET
The emergence of the COVID-19 has severely impacted the energy and power industry, which resulted decline market growth in the year 2020. The emergence of the COVID-19 pandemic has slowed the growth of the residential combined heat and power market, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This significantly affected the residential CHP market owing to the suspension of activities of end-users. In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the residential combined heat and power market. However, from the second half of 2021, the reopening of industrial operations and manufacturing facilities have fueled the energy demand which further augmented the market dynamics for residential combined heat and power market. During the pandemic recovery period, there has been witnessed government support for generating the power from cogeneration plants wherein favorable policies, incentives and subsidies have strengthened the demand for cogeneration which aids the market growth.
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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
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The residential combined heat and power 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 market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the residential combined heat and power market in these regions.
IMPACT OF COVID-19 ON RESIDENTIAL COMBINED HEAT AND POWER MARKET
The emergence of the COVID-19 has severely impacted the energy and power industry, which resulted decline market growth in the year 2020. The emergence of the COVID-19 pandemic has slowed the growth of the residential combined heat and power market, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This significantly affected the residential CHP market owing to the suspension of activities of end-users. In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the residential combined heat and power market. However, from the second half of 2021, the reopening of industrial operations and manufacturing facilities have fueled the energy demand which further augmented the market dynamics for residential combined heat and power market. During the pandemic recovery period, there has been witnessed government support for generating the power from cogeneration plants wherein favorable policies, incentives and subsidies have strengthened the demand for cogeneration which aids the market growth.
MARKET PLAYERS
The report covers key developments in the residential combined heat and power market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources 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 the expansion of business and customer base of market players. The market players in the residential combined heat and power market are anticipated to provide lucrative growth opportunities in the future owing favorable government regulations for mitigating carbon emissions.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the residential combined heat and power market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Yanmar
- GE Power
- Samad Power
- Vaillant Group
- Axiom Energy Group
- Dalkia Aegis, EDF Group
- EC POWER A/S
- Micro Turbine Technology BV
- Viessmann Manufacturing Company Inc.
- BDR Thermea Group
- 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 Residential Combined Heat And Power Market - By Capacity
1.3.2 Residential Combined Heat And Power Market - By Fuel
1.3.3 Residential Combined Heat And Power Market - By Prime Mover
1.3.4 Residential Combined Heat And Power Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RESIDENTIAL COMBINED HEAT AND POWER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. RESIDENTIAL COMBINED HEAT AND POWER 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. RESIDENTIAL COMBINED HEAT AND POWER MARKET - GLOBAL MARKET ANALYSIS
6.1. RESIDENTIAL COMBINED HEAT AND POWER - GLOBAL MARKET OVERVIEW
6.2. RESIDENTIAL COMBINED HEAT AND POWER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RESIDENTIAL COMBINED HEAT AND POWER MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
7.1. OVERVIEW
7.2. CAPACITY MARKET FORECASTS AND ANALYSIS
7.3. UPTO 2KW
7.3.1. Overview
7.3.2. Upto 2kW Market Forecast and Analysis
7.4. 3 KW TO 10 KW
7.4.1. Overview
7.4.2. 3 kW to 10 kW Market Forecast and Analysis
7.5. 11 KW TO 50 KW
7.5.1. Overview
7.5.2. 11 kW to 50 kW Market Forecast and Analysis
8. RESIDENTIAL COMBINED HEAT AND POWER MARKET - REVENUE AND FORECASTS TO 2028 - FUEL
8.1. OVERVIEW
8.2. FUEL MARKET FORECASTS AND ANALYSIS
8.3. NATURAL GAS
8.3.1. Overview
8.3.2. Natural Gas Market Forecast and Analysis
8.4. HYDROGEN
8.4.1. Overview
8.4.2. Hydrogen Market Forecast and Analysis
8.5. RENEWABLE RESOURCES
8.5.1. Overview
8.5.2. Renewable Resources Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. RESIDENTIAL COMBINED HEAT AND POWER MARKET - REVENUE AND FORECASTS TO 2028 - PRIME MOVER
9.1. OVERVIEW
9.2. PRIME MOVER MARKET FORECASTS AND ANALYSIS
9.3. GAS TURBINE
9.3.1. Overview
9.3.2. Gas Turbine Market Forecast and Analysis
9.4. STEAM TURBINE
9.4.1. Overview
9.4.2. Steam Turbine Market Forecast and Analysis
9.5. RECIPROCATING ENGINE
9.5.1. Overview
9.5.2. Reciprocating Engine Market Forecast and Analysis
9.6. FUEL CELL
9.6.1. Overview
9.6.2. Fuel Cell Market Forecast and Analysis
9.7. MICROTURBINE
9.7.1. Overview
9.7.2. Microturbine Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. RESIDENTIAL COMBINED HEAT AND POWER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Residential Combined Heat And Power Market Overview
10.1.2 North America Residential Combined Heat And Power Market Forecasts and Analysis
10.1.3 North America Residential Combined Heat And Power Market Forecasts and Analysis - By Capacity
10.1.4 North America Residential Combined Heat And Power Market Forecasts and Analysis - By Fuel
10.1.5 North America Residential Combined Heat And Power Market Forecasts and Analysis - By Prime Mover
10.1.6 North America Residential Combined Heat And Power Market Forecasts and Analysis - By Countries
10.1.6.1 United States Residential Combined Heat And Power Market
10.1.6.1.1 United States Residential Combined Heat And Power Market by Capacity
10.1.6.1.2 United States Residential Combined Heat And Power Market by Fuel
10.1.6.1.3 United States Residential Combined Heat And Power Market by Prime Mover
10.1.6.2 Canada Residential Combined Heat And Power Market
10.1.6.2.1 Canada Residential Combined Heat And Power Market by Capacity
10.1.6.2.2 Canada Residential Combined Heat And Power Market by Fuel
10.1.6.2.3 Canada Residential Combined Heat And Power Market by Prime Mover
10.1.6.3 Mexico Residential Combined Heat And Power Market
10.1.6.3.1 Mexico Residential Combined Heat And Power Market by Capacity
10.1.6.3.2 Mexico Residential Combined Heat And Power Market by Fuel
10.1.6.3.3 Mexico Residential Combined Heat And Power Market by Prime Mover
10.2. EUROPE
10.2.1 Europe Residential Combined Heat And Power Market Overview
10.2.2 Europe Residential Combined Heat And Power Market Forecasts and Analysis
10.2.3 Europe Residential Combined Heat And Power Market Forecasts and Analysis - By Capacity
10.2.4 Europe Residential Combined Heat And Power Market Forecasts and Analysis - By Fuel
10.2.5 Europe Residential Combined Heat And Power Market Forecasts and Analysis - By Prime Mover
10.2.6 Europe Residential Combined Heat And Power Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Residential Combined Heat And Power Market
10.2.6.1.1 Germany Residential Combined Heat And Power Market by Capacity
10.2.6.1.2 Germany Residential Combined Heat And Power Market by Fuel
10.2.6.1.3 Germany Residential Combined Heat And Power Market by Prime Mover
10.2.6.2 France Residential Combined Heat And Power Market
10.2.6.2.1 France Residential Combined Heat And Power Market by Capacity
10.2.6.2.2 France Residential Combined Heat And Power Market by Fuel
10.2.6.2.3 France Residential Combined Heat And Power Market by Prime Mover
10.2.6.3 Italy Residential Combined Heat And Power Market
10.2.6.3.1 Italy Residential Combined Heat And Power Market by Capacity
10.2.6.3.2 Italy Residential Combined Heat And Power Market by Fuel
10.2.6.3.3 Italy Residential Combined Heat And Power Market by Prime Mover
10.2.6.4 United Kingdom Residential Combined Heat And Power Market
10.2.6.4.1 United Kingdom Residential Combined Heat And Power Market by Capacity
10.2.6.4.2 United Kingdom Residential Combined Heat And Power Market by Fuel
10.2.6.4.3 United Kingdom Residential Combined Heat And Power Market by Prime Mover
10.2.6.5 Russia Residential Combined Heat And Power Market
10.2.6.5.1 Russia Residential Combined Heat And Power Market by Capacity
10.2.6.5.2 Russia Residential Combined Heat And Power Market by Fuel
10.2.6.5.3 Russia Residential Combined Heat And Power Market by Prime Mover
10.2.6.6 Rest of Europe Residential Combined Heat And Power Market
10.2.6.6.1 Rest of Europe Residential Combined Heat And Power Market by Capacity
10.2.6.6.2 Rest of Europe Residential Combined Heat And Power Market by Fuel
10.2.6.6.3 Rest of Europe Residential Combined Heat And Power Market by Prime Mover
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Residential Combined Heat And Power Market Overview
10.3.2 Asia-Pacific Residential Combined Heat And Power Market Forecasts and Analysis
10.3.3 Asia-Pacific Residential Combined Heat And Power Market Forecasts and Analysis - By Capacity
10.3.4 Asia-Pacific Residential Combined Heat And Power Market Forecasts and Analysis - By Fuel
10.3.5 Asia-Pacific Residential Combined Heat And Power Market Forecasts and Analysis - By Prime Mover
10.3.6 Asia-Pacific Residential Combined Heat And Power Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Residential Combined Heat And Power Market
10.3.6.1.1 Australia Residential Combined Heat And Power Market by Capacity
10.3.6.1.2 Australia Residential Combined Heat And Power Market by Fuel
10.3.6.1.3 Australia Residential Combined Heat And Power Market by Prime Mover
10.3.6.2 China Residential Combined Heat And Power Market
10.3.6.2.1 China Residential Combined Heat And Power Market by Capacity
10.3.6.2.2 China Residential Combined Heat And Power Market by Fuel
10.3.6.2.3 China Residential Combined Heat And Power Market by Prime Mover
10.3.6.3 India Residential Combined Heat And Power Market
10.3.6.3.1 India Residential Combined Heat And Power Market by Capacity
10.3.6.3.2 India Residential Combined Heat And Power Market by Fuel
10.3.6.3.3 India Residential Combined Heat And Power Market by Prime Mover
10.3.6.4 Japan Residential Combined Heat And Power Market
10.3.6.4.1 Japan Residential Combined Heat And Power Market by Capacity
10.3.6.4.2 Japan Residential Combined Heat And Power Market by Fuel
10.3.6.4.3 Japan Residential Combined Heat And Power Market by Prime Mover
10.3.6.5 South Korea Residential Combined Heat And Power Market
10.3.6.5.1 South Korea Residential Combined Heat And Power Market by Capacity
10.3.6.5.2 South Korea Residential Combined Heat And Power Market by Fuel
10.3.6.5.3 South Korea Residential Combined Heat And Power Market by Prime Mover
10.3.6.6 Rest of Asia-Pacific Residential Combined Heat And Power Market
10.3.6.6.1 Rest of Asia-Pacific Residential Combined Heat And Power Market by Capacity
10.3.6.6.2 Rest of Asia-Pacific Residential Combined Heat And Power Market by Fuel
10.3.6.6.3 Rest of Asia-Pacific Residential Combined Heat And Power Market by Prime Mover
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Residential Combined Heat And Power Market Overview
10.4.2 Middle East and Africa Residential Combined Heat And Power Market Forecasts and Analysis
10.4.3 Middle East and Africa Residential Combined Heat And Power Market Forecasts and Analysis - By Capacity
10.4.4 Middle East and Africa Residential Combined Heat And Power Market Forecasts and Analysis - By Fuel
10.4.5 Middle East and Africa Residential Combined Heat And Power Market Forecasts and Analysis - By Prime Mover
10.4.6 Middle East and Africa Residential Combined Heat And Power Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Residential Combined Heat And Power Market
10.4.6.1.1 South Africa Residential Combined Heat And Power Market by Capacity
10.4.6.1.2 South Africa Residential Combined Heat And Power Market by Fuel
10.4.6.1.3 South Africa Residential Combined Heat And Power Market by Prime Mover
10.4.6.2 Saudi Arabia Residential Combined Heat And Power Market
10.4.6.2.1 Saudi Arabia Residential Combined Heat And Power Market by Capacity
10.4.6.2.2 Saudi Arabia Residential Combined Heat And Power Market by Fuel
10.4.6.2.3 Saudi Arabia Residential Combined Heat And Power Market by Prime Mover
10.4.6.3 U.A.E Residential Combined Heat And Power Market
10.4.6.3.1 U.A.E Residential Combined Heat And Power Market by Capacity
10.4.6.3.2 U.A.E Residential Combined Heat And Power Market by Fuel
10.4.6.3.3 U.A.E Residential Combined Heat And Power Market by Prime Mover
10.4.6.4 Rest of Middle East and Africa Residential Combined Heat And Power Market
10.4.6.4.1 Rest of Middle East and Africa Residential Combined Heat And Power Market by Capacity
10.4.6.4.2 Rest of Middle East and Africa Residential Combined Heat And Power Market by Fuel
10.4.6.4.3 Rest of Middle East and Africa Residential Combined Heat And Power Market by Prime Mover
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Residential Combined Heat And Power Market Overview
10.5.2 South and Central America Residential Combined Heat And Power Market Forecasts and Analysis
10.5.3 South and Central America Residential Combined Heat And Power Market Forecasts and Analysis - By Capacity
10.5.4 South and Central America Residential Combined Heat And Power Market Forecasts and Analysis - By Fuel
10.5.5 South and Central America Residential Combined Heat And Power Market Forecasts and Analysis - By Prime Mover
10.5.6 South and Central America Residential Combined Heat And Power Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Residential Combined Heat And Power Market
10.5.6.1.1 Brazil Residential Combined Heat And Power Market by Capacity
10.5.6.1.2 Brazil Residential Combined Heat And Power Market by Fuel
10.5.6.1.3 Brazil Residential Combined Heat And Power Market by Prime Mover
10.5.6.2 Argentina Residential Combined Heat And Power Market
10.5.6.2.1 Argentina Residential Combined Heat And Power Market by Capacity
10.5.6.2.2 Argentina Residential Combined Heat And Power Market by Fuel
10.5.6.2.3 Argentina Residential Combined Heat And Power Market by Prime Mover
10.5.6.3 Rest of South and Central America Residential Combined Heat And Power Market
10.5.6.3.1 Rest of South and Central America Residential Combined Heat And Power Market by Capacity
10.5.6.3.2 Rest of South and Central America Residential Combined Heat And Power Market by Fuel
10.5.6.3.3 Rest of South and Central America Residential Combined Heat And Power Market by Prime Mover
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. RESIDENTIAL COMBINED HEAT AND POWER MARKET, KEY COMPANY PROFILES
12.1. YANMAR
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. GE POWER
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. SAMAD POWER
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. VAILLANT GROUP
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. AXIOM ENERGY 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. DALKIA AEGIS, EDF GROUP
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. EC POWER A/S
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. MICRO TURBINE TECHNOLOGY BV
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. BDR THERMEA GROUP
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. VIESSMANN MANUFACTURING COMPANY INC.
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.Yanmar
2.GE Power
3.Samad Power
4.Vaillant Group
5.Axiom Energy Group
6.Dalkia Aegis, EDF Group
7.EC POWER A/S
8.Micro Turbine Technology BV
9.BDR Thermea Group
10.Viessmann Manufacturing Company Inc.
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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