The Rolling Stock Power Conversion System Market is expected to register a CAGR of 3.4% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Rolling Stock Power Conversion System Market Report covers based on by components and by rolling stock types. Based on Components, the market is segmented into Rectifier, Inverter, Alternator, Auxiliary Power Unit (APU), and Traction Motor. Based on Rolling Stock Type, the market is divided into Locomotives, Metros, Monorails, Trams, Freight Wagons, Passenger Coaches, Others.
Purpose of the ReportThe report Rolling Stock Power Conversion System 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.
Rolling Stock Power Conversion System Market Segmentation
Components- Rectifier
- Inverter
- Alternator
- Auxiliary Power Unit
- Traction Motor
- Locomotives
- Metros
- Monorails
- Trams
- Freight Wagons
- Passenger Coaches
- Others
Strategic Insights
Rolling Stock Power Conversion System Market Growth Drivers- Increased Demand for Electrification of the Railways: This is the prime factor that drives the rolling stock power conversion system market globally. Electrified rail systems are much more efficient and environmentally friendly as compared to diesel counterparts. Electric trains have become popular in a number of geographies and thus constitute an increased demand for electrification.
- Advancements in power electronics: on-board more efficient converters and inverters lead to progress in power conversion systems of the rolling stock. At the same time, while energy consumption falls, maintenance connected with the rolling stock also decreases its costs, making the rolling stock very attractive for operators.
- Growing Demand for Electrified Rail Systems: As countries and regions strive to reduce carbon emissions, the electrification of railway networks has gained significant traction. Electrified rail systems require advanced power conversion systems to manage the transition from the grid to the trains' onboard systems. The demand for efficient traction inverters, converter systems, and battery energy storage systems is growing as the global rail industry transitions from diesel to electric power.
- Growth in Hybrid Rolling Stock Solutions: The shift toward hybrid trains that combine electric traction with diesel or battery power is driving demand for hybrid power conversion systems. These systems manage the integration of different power sources, ensuring efficient energy use and seamless transitions between power modes. Hybrid trains are particularly valuable in regions with non-electrified rail lines, as they provide the flexibility to operate on both electrified and non-electrified tracks.
- Rising Integration of the renewable power based solutions into rail systems: Growing opportunities for the implementation of renewable energy sources, such as solar and wind, within rail operations is driving significant opportunity in the market growth. Rising use of power conversion systems to manage and convert renewable energy into rail operation driving the market opportunity.
- Usage of Battery-Powered Trains: The development of battery-powered trains is gaining momentum, especially in regions aiming to eliminate diesel-powered rail operations. Batteries can provide energy storage that allows trains to operate on sections of rail without overhead electrification. These systems require specialized battery charging and energy management power conversion solutions, thus driving the growth of the market.
- Rising Retrofit options of existing rolling stocks driving the market opportunity: The rolling stocks retrofitting is growing at rapid pace for example, retrofitting of the existing rolling stock with the help of more efficient power conversion systems driving the market opportunity in the rolling stock power conversion system market.
- Urban Rail and Light Rail Transit Systems: The development of urban rail systems and light rail transit (LRT) networks in cities is increasing, especially in developing countries. These systems often require compact, reliable, and cost-effective power conversion systems, which further drive demand for modern power electronics and electrical systems in rolling stock.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Rolling Stock Power Conversion System 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 Rolling Stock Power Conversion System Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
AEG Power Solutions, Alstom SA, Bombardier Inc., CRRC Corporation Ltd., Hitachi Ltd., Siemens AG, Strukton, Toshiba Corporation, Turbo Power Systems, Wabtec Corporation, and others
The Rolling Stock Power Conversion System Market is estimated to witness a CAGR of 3.4% from 2023 to 2031
High cost of power conversion systems of the rolling stocks hinders the market growth.
The major factors driving the Rolling Stock Power Conversion System Market are: Increasing electrification of the locomotives across the globe with rising investments by several countries government drives the market growth.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Rolling Stock Power Conversion System Market - By Components
1.3.2 Rolling Stock Power Conversion System Market - By Rolling Stock Type
1.3.3 Rolling Stock Power Conversion System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ROLLING STOCK POWER CONVERSION SYSTEM 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. ROLLING STOCK POWER CONVERSION SYSTEM 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. ROLLING STOCK POWER CONVERSION SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. ROLLING STOCK POWER CONVERSION SYSTEM - GLOBAL MARKET OVERVIEW
6.2. ROLLING STOCK POWER CONVERSION SYSTEM - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. ROLLING STOCK POWER CONVERSION SYSTEM MARKET - REVENUE AND FORECASTS TO 2027 - COMPONENTS
7.1. OVERVIEW
7.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
7.3. RECTIFIER
7.3.1. Overview
7.3.2. Rectifier Market Forecast and Analysis
7.4. INVERTER
7.4.1. Overview
7.4.2. Inverter Market Forecast and Analysis
7.5. ALTERNATOR
7.5.1. Overview
7.5.2. Alternator Market Forecast and Analysis
7.6. AUXILIARY POWER UNIT (APU)
7.6.1. Overview
7.6.2. Auxiliary Power Unit (APU) Market Forecast and Analysis
7.7. TRACTION MOTOR
7.7.1. Overview
7.7.2. Traction Motor Market Forecast and Analysis
8. ROLLING STOCK POWER CONVERSION SYSTEM MARKET - REVENUE AND FORECASTS TO 2027 - ROLLING STOCK TYPE
8.1. OVERVIEW
8.2. ROLLING STOCK TYPE MARKET FORECASTS AND ANALYSIS
8.3. LOCOMOTIVES
8.3.1. Overview
8.3.2. Locomotives Market Forecast and Analysis
8.4. METROS
8.4.1. Overview
8.4.2. Metros Market Forecast and Analysis
8.5. MONORAILS
8.5.1. Overview
8.5.2. Monorails Market Forecast and Analysis
8.6. TRAMS
8.6.1. Overview
8.6.2. Trams Market Forecast and Analysis
8.7. FREIGHT WAGONS
8.7.1. Overview
8.7.2. Freight Wagons Market Forecast and Analysis
8.8. PASSENGER COACHES
8.8.1. Overview
8.8.2. Passenger Coaches Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. ROLLING STOCK POWER CONVERSION SYSTEM MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Rolling Stock Power Conversion System Market Overview
9.1.2 North America Rolling Stock Power Conversion System Market Forecasts and Analysis
9.1.3 North America Rolling Stock Power Conversion System Market Forecasts and Analysis - By Components
9.1.4 North America Rolling Stock Power Conversion System Market Forecasts and Analysis - By Rolling Stock Type
9.1.5 North America Rolling Stock Power Conversion System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Rolling Stock Power Conversion System Market
9.1.5.1.1 United States Rolling Stock Power Conversion System Market by Components
9.1.5.1.2 United States Rolling Stock Power Conversion System Market by Rolling Stock Type
9.1.5.2 Canada Rolling Stock Power Conversion System Market
9.1.5.2.1 Canada Rolling Stock Power Conversion System Market by Components
9.1.5.2.2 Canada Rolling Stock Power Conversion System Market by Rolling Stock Type
9.1.5.3 Mexico Rolling Stock Power Conversion System Market
9.1.5.3.1 Mexico Rolling Stock Power Conversion System Market by Components
9.1.5.3.2 Mexico Rolling Stock Power Conversion System Market by Rolling Stock Type
9.2. EUROPE
9.2.1 Europe Rolling Stock Power Conversion System Market Overview
9.2.2 Europe Rolling Stock Power Conversion System Market Forecasts and Analysis
9.2.3 Europe Rolling Stock Power Conversion System Market Forecasts and Analysis - By Components
9.2.4 Europe Rolling Stock Power Conversion System Market Forecasts and Analysis - By Rolling Stock Type
9.2.5 Europe Rolling Stock Power Conversion System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Rolling Stock Power Conversion System Market
9.2.5.1.1 Germany Rolling Stock Power Conversion System Market by Components
9.2.5.1.2 Germany Rolling Stock Power Conversion System Market by Rolling Stock Type
9.2.5.2 France Rolling Stock Power Conversion System Market
9.2.5.2.1 France Rolling Stock Power Conversion System Market by Components
9.2.5.2.2 France Rolling Stock Power Conversion System Market by Rolling Stock Type
9.2.5.3 Italy Rolling Stock Power Conversion System Market
9.2.5.3.1 Italy Rolling Stock Power Conversion System Market by Components
9.2.5.3.2 Italy Rolling Stock Power Conversion System Market by Rolling Stock Type
9.2.5.4 United Kingdom Rolling Stock Power Conversion System Market
9.2.5.4.1 United Kingdom Rolling Stock Power Conversion System Market by Components
9.2.5.4.2 United Kingdom Rolling Stock Power Conversion System Market by Rolling Stock Type
9.2.5.5 Russia Rolling Stock Power Conversion System Market
9.2.5.5.1 Russia Rolling Stock Power Conversion System Market by Components
9.2.5.5.2 Russia Rolling Stock Power Conversion System Market by Rolling Stock Type
9.2.5.6 Rest of Europe Rolling Stock Power Conversion System Market
9.2.5.6.1 Rest of Europe Rolling Stock Power Conversion System Market by Components
9.2.5.6.2 Rest of Europe Rolling Stock Power Conversion System Market by Rolling Stock Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Rolling Stock Power Conversion System Market Overview
9.3.2 Asia-Pacific Rolling Stock Power Conversion System Market Forecasts and Analysis
9.3.3 Asia-Pacific Rolling Stock Power Conversion System Market Forecasts and Analysis - By Components
9.3.4 Asia-Pacific Rolling Stock Power Conversion System Market Forecasts and Analysis - By Rolling Stock Type
9.3.5 Asia-Pacific Rolling Stock Power Conversion System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Rolling Stock Power Conversion System Market
9.3.5.1.1 Australia Rolling Stock Power Conversion System Market by Components
9.3.5.1.2 Australia Rolling Stock Power Conversion System Market by Rolling Stock Type
9.3.5.2 China Rolling Stock Power Conversion System Market
9.3.5.2.1 China Rolling Stock Power Conversion System Market by Components
9.3.5.2.2 China Rolling Stock Power Conversion System Market by Rolling Stock Type
9.3.5.3 India Rolling Stock Power Conversion System Market
9.3.5.3.1 India Rolling Stock Power Conversion System Market by Components
9.3.5.3.2 India Rolling Stock Power Conversion System Market by Rolling Stock Type
9.3.5.4 Japan Rolling Stock Power Conversion System Market
9.3.5.4.1 Japan Rolling Stock Power Conversion System Market by Components
9.3.5.4.2 Japan Rolling Stock Power Conversion System Market by Rolling Stock Type
9.3.5.5 South Korea Rolling Stock Power Conversion System Market
9.3.5.5.1 South Korea Rolling Stock Power Conversion System Market by Components
9.3.5.5.2 South Korea Rolling Stock Power Conversion System Market by Rolling Stock Type
9.3.5.6 Rest of Asia-Pacific Rolling Stock Power Conversion System Market
9.3.5.6.1 Rest of Asia-Pacific Rolling Stock Power Conversion System Market by Components
9.3.5.6.2 Rest of Asia-Pacific Rolling Stock Power Conversion System Market by Rolling Stock Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Rolling Stock Power Conversion System Market Overview
9.4.2 Middle East and Africa Rolling Stock Power Conversion System Market Forecasts and Analysis
9.4.3 Middle East and Africa Rolling Stock Power Conversion System Market Forecasts and Analysis - By Components
9.4.4 Middle East and Africa Rolling Stock Power Conversion System Market Forecasts and Analysis - By Rolling Stock Type
9.4.5 Middle East and Africa Rolling Stock Power Conversion System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Rolling Stock Power Conversion System Market
9.4.5.1.1 South Africa Rolling Stock Power Conversion System Market by Components
9.4.5.1.2 South Africa Rolling Stock Power Conversion System Market by Rolling Stock Type
9.4.5.2 Saudi Arabia Rolling Stock Power Conversion System Market
9.4.5.2.1 Saudi Arabia Rolling Stock Power Conversion System Market by Components
9.4.5.2.2 Saudi Arabia Rolling Stock Power Conversion System Market by Rolling Stock Type
9.4.5.3 U.A.E Rolling Stock Power Conversion System Market
9.4.5.3.1 U.A.E Rolling Stock Power Conversion System Market by Components
9.4.5.3.2 U.A.E Rolling Stock Power Conversion System Market by Rolling Stock Type
9.4.5.4 Rest of Middle East and Africa Rolling Stock Power Conversion System Market
9.4.5.4.1 Rest of Middle East and Africa Rolling Stock Power Conversion System Market by Components
9.4.5.4.2 Rest of Middle East and Africa Rolling Stock Power Conversion System Market by Rolling Stock Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Rolling Stock Power Conversion System Market Overview
9.5.2 South and Central America Rolling Stock Power Conversion System Market Forecasts and Analysis
9.5.3 South and Central America Rolling Stock Power Conversion System Market Forecasts and Analysis - By Components
9.5.4 South and Central America Rolling Stock Power Conversion System Market Forecasts and Analysis - By Rolling Stock Type
9.5.5 South and Central America Rolling Stock Power Conversion System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Rolling Stock Power Conversion System Market
9.5.5.1.1 Brazil Rolling Stock Power Conversion System Market by Components
9.5.5.1.2 Brazil Rolling Stock Power Conversion System Market by Rolling Stock Type
9.5.5.2 Argentina Rolling Stock Power Conversion System Market
9.5.5.2.1 Argentina Rolling Stock Power Conversion System Market by Components
9.5.5.2.2 Argentina Rolling Stock Power Conversion System Market by Rolling Stock Type
9.5.5.3 Rest of South and Central America Rolling Stock Power Conversion System Market
9.5.5.3.1 Rest of South and Central America Rolling Stock Power Conversion System Market by Components
9.5.5.3.2 Rest of South and Central America Rolling Stock Power Conversion System Market by Rolling Stock Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ROLLING STOCK POWER CONVERSION SYSTEM MARKET, KEY COMPANY PROFILES
11.1. ABB
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ALSTOM
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BOMBARDIER
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CRRC CORPORATION LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HITACHI LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SIEMENS AG
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. STRUKTON
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TOSHIBA CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TURBO POWER SYSTEMS
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TRIMBLE INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.ABB
2.Alstom
3.Bombardier
4.CRRC Corporation Ltd.
5.Hitachi Ltd.
6.Siemens AG
7.Strukton
8.Toshiba Corporation
9.Turbo Power Systems
10.Trimble 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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