Shipbuilding Market Overview and Forecast by 2031
The shipbuilding market is expected to register a CAGR of 4.1% during 2023–2031. The evolution of cross border trading activities and the increasing government spending on the defense sector is likely to remain a key trend in the market.
Shipbuilding Market Analysis
- The demand for affordable marine transportation, or ships, is critical for economic expansion and sustainable development since the world's population is always growing, especially in emerging economies. Ships also help to distribute the benefits of international trade and commerce.
- The global shipbuilding market is anticipated to observe high growth during the forecast period. The market has expanded as a result of the various developments made by leading shipbuilding companies.
- Increased trade agreements between nations and ongoing product development support the expansion of the global shipbuilding market.
Shipbuilding Market Overview
- The shipbuilding industry is involved in the production of different types of ships for various applications. These types of ships can include vessels, cargo, roll-on/roll-off ships, crafts, passenger ships, and others.
- As seaborne trade is on the rise and trade barriers are being eased, the demand for ships is expected to grow in the coming years, creating a favorable market environment for manufacturing and other important players.
- The demand for consumer goods is being driven by factors such as population growth, rising purchasing power, and rising living standards, which is resulting in increased production and several trade-driven agreements have been initiated between developed and emerging nations to transport goods. Thus, suppliers have shifted their preference toward waterways as a better and more efficient means of transportation.
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Shipbuilding Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Shipbuilding Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Shipbuilding Market Drivers and Opportunities
Increasing Cross-Border Trade to Favor the Market
- The main factor driving the shipbuilding market's growth is expanding economies brought about by increased trade.
- The foundation of international trade in maritime transportation, and trade expansion has been a major contributor to the global economy in recent years.
- Maritime transportation has opened up new markets and extended supply chains, accelerating global economic development. The Canadian government is starting to award navy ship contracts, which may result in a rise in the country's requirement for defense ships.
- The government entered into a long-term strategic agreement for the construction of combat and non-combat naval vessels with two Canadian shipyards, Irving Shipbuilding Inc. (Halifax) and Seaspan's Vancouver Shipyards Co. Ltd. (Vancouver).
Increasing Government Spending on the Defense Sector
- Due to the growing geopolitical disturbances, governments of various nations are highly focusing on spending higher amounts on developing naval forces to combat the modern war requirement.
- Growing government procurement of military ships is also having a positive impact on the growth of the shipbuilding market at the global level.
Shipbuilding Market Report Segmentation Analysis
Key segments that contributed to the derivation of the shipbuilding market analysis are ship type, process, and end user.
- Based on ship type, the shipbuilding market is divided into cargo, vessel, container, tanker, multi-purpose ship, car and passenger ferry and others.
- Based on the process, the shipbuilding market is divided into designing, production planning, cutting and processing, assembling and launching and outfitting.
- Based on the type of end user, the shipbuilding market is divided into commercial and military.
Shipbuilding Market Share Analysis by Geography
- The shipbuilding market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering shipbuilding market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the shipbuilding market in these regions.
Shipbuilding Market Report Scope
Shipbuilding Market News and Recent Developments
The shipbuilding market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the shipbuilding market are listed below:
- Mitsubishi Shipbuilding and WinGD concluded a memorandum of understanding (MOU) to undertake joint technical studies on an AFSS, aiming to contribute to the achievement of a new target set by the International Maritime Organization (IMO) of net zero greenhouse gas (GHG) emissions in the global maritime industry by or around 2050. (Source: Mitsubishi Shipbuilding, Press Release, June 2023)
- The MEYER Group reveals visionary ideas and innovative maritime products at Seatrade Cruise Global in Miami this week and underlines its technological leadership in maritime products. For the first time, initiatives towards a climate-neutral cruise ship concept under development in the NEcOLEAP research project at MEYER TURKU are presented. Additionally, ALFRED Maritime, the digital venture of MEYER Group, introduces the AI-based MEYER Energy Management System. Floating piers and terminals by MEYER Floating Solutions and the visionary future concept ORIGIN complete the showcases on the MEYER booth. (Source: The MEYER Group, Press Release, April 2024)
Shipbuilding Market Report Coverage and Deliverables
The “Shipbuilding Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Shipbuilding market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Shipbuilding market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Shipbuilding market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the shipbuilding market
- Detailed company profiles
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 global shipbuilding market is expected to grow at a CAGR of 4.1% during the forecast period 2023 - 2031.
The rapid development in international trade and reference for seaborne trade is one of the major factors driving the shipbuilding market.
An increase in government spending in the defense sector is anticipated to play a significant role in the global shipbuilding market in the coming years.
The leading players operating in the shipbuilding market are L & T Ship Building Ltd., Mitsubishi Heavy Industries Limited, General Dynamics Corporation, BAE Systems PLC, Japan Marine United, Imabari Shipbuilding, Labuan Shipyard & Engineering, Swiftships, Damen Shipyards Group, Sembcorp Industries Ltd., Cochin Shipyard Limited, China Shipbuilding Industry Corporation, Fincantieri S.p.A., Dae Sun Shipbuilding & Engineering Co. Ltd., and Hyundai Mipo Dockyards Co. Ltd.
The report can be delivered in PDF/PPT format; we can also share an excel dataset based on the request.
Some of the customization options available based on request are 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.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Shipbuilding Market - By Type of Ship
1.3.2 Shipbuilding Market - By Process
1.3.3 Shipbuilding Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. SHIPBUILDING 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. SHIPBUILDING 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. SHIPBUILDING MARKET - GLOBAL MARKET ANALYSIS
6.1. SHIPBUILDING - GLOBAL MARKET OVERVIEW
6.2. SHIPBUILDING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SHIPBUILDING MARKET - REVENUE AND FORECASTS TO 2028 – TYPE OF SHIP
7.1. OVERVIEW
7.2. TYPE OF SHIP MARKET FORECASTS AND ANALYSIS
7.3. CARGO
7.3.1. Overview
7.3.2. Cargo Market Forecast and Analysis
7.4. VESSEL
7.4.1. Overview
7.4.2. Vessel Market Forecast and Analysis
7.5. CONTAINER
7.5.1. Overview
7.5.2. Container Market Forecast and Analysis
7.6. TANKER
7.6.1. Overview
7.6.2. Tanker Market Forecast and Analysis
7.7. MULTI-PURPOSE SHIP
7.7.1. Overview
7.7.2. Multi-Purpose Ship Market Forecast and Analysis
7.8. CAR AND PASSENGER FERRY
7.8.1. Overview
7.8.2. Car and Passenger Ferry Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. SHIPBUILDING MARKET - REVENUE AND FORECASTS TO 2028 – PROCESS
8.1. OVERVIEW
8.2. PROCESS MARKET FORECASTS AND ANALYSIS
8.3. DESIGNING
8.3.1. Overview
8.3.2. Designing Market Forecast and Analysis
8.4. PRODUCTION PLANNING
8.4.1. Overview
8.4.2. Production Planning Market Forecast and Analysis
8.5. CUTTING AND PROCESSING
8.5.1. Overview
8.5.2. Cutting and Processing Market Forecast and Analysis
8.6. ASSEMBLING
8.6.1. Overview
8.6.2. Assembling Market Forecast and Analysis
8.7. LAUNCHING AND OUTFITTING
8.7.1. Overview
8.7.2. Launching and Outfitting Market Forecast and Analysis
9. SHIPBUILDING MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Shipbuilding Market Overview
9.1.2 North America Shipbuilding Market Forecasts and Analysis
9.1.3 North America Shipbuilding Market Forecasts and Analysis - By Type of Ship
9.1.4 North America Shipbuilding Market Forecasts and Analysis - By Process
9.1.5 North America Shipbuilding Market Forecasts and Analysis - By Countries
9.1.5.1 United States Shipbuilding Market
9.1.5.1.1 United States Shipbuilding Market by Type of Ship
9.1.5.1.2 United States Shipbuilding Market by Process
9.1.5.2 Canada Shipbuilding Market
9.1.5.2.1 Canada Shipbuilding Market by Type of Ship
9.1.5.2.2 Canada Shipbuilding Market by Process
9.1.5.3 Mexico Shipbuilding Market
9.1.5.3.1 Mexico Shipbuilding Market by Type of Ship
9.1.5.3.2 Mexico Shipbuilding Market by Process
9.2. EUROPE
9.2.1 Europe Shipbuilding Market Overview
9.2.2 Europe Shipbuilding Market Forecasts and Analysis
9.2.3 Europe Shipbuilding Market Forecasts and Analysis - By Type of Ship
9.2.4 Europe Shipbuilding Market Forecasts and Analysis - By Process
9.2.5 Europe Shipbuilding Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Shipbuilding Market
9.2.5.1.1 Germany Shipbuilding Market by Type of Ship
9.2.5.1.2 Germany Shipbuilding Market by Process
9.2.5.2 France Shipbuilding Market
9.2.5.2.1 France Shipbuilding Market by Type of Ship
9.2.5.2.2 France Shipbuilding Market by Process
9.2.5.3 Italy Shipbuilding Market
9.2.5.3.1 Italy Shipbuilding Market by Type of Ship
9.2.5.3.2 Italy Shipbuilding Market by Process
9.2.5.4 United Kingdom Shipbuilding Market
9.2.5.4.1 United Kingdom Shipbuilding Market by Type of Ship
9.2.5.4.2 United Kingdom Shipbuilding Market by Process
9.2.5.5 Russia Shipbuilding Market
9.2.5.5.1 Russia Shipbuilding Market by Type of Ship
9.2.5.5.2 Russia Shipbuilding Market by Process
9.2.5.6 Rest of Europe Shipbuilding Market
9.2.5.6.1 Rest of Europe Shipbuilding Market by Type of Ship
9.2.5.6.2 Rest of Europe Shipbuilding Market by Process
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Shipbuilding Market Overview
9.3.2 Asia-Pacific Shipbuilding Market Forecasts and Analysis
9.3.3 Asia-Pacific Shipbuilding Market Forecasts and Analysis - By Type of Ship
9.3.4 Asia-Pacific Shipbuilding Market Forecasts and Analysis - By Process
9.3.5 Asia-Pacific Shipbuilding Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Shipbuilding Market
9.3.5.1.1 Australia Shipbuilding Market by Type of Ship
9.3.5.1.2 Australia Shipbuilding Market by Process
9.3.5.2 China Shipbuilding Market
9.3.5.2.1 China Shipbuilding Market by Type of Ship
9.3.5.2.2 China Shipbuilding Market by Process
9.3.5.3 Japan Shipbuilding Market
9.3.5.3.1 Japan Shipbuilding Market by Type of Ship
9.3.5.3.2 Japan Shipbuilding Market by Process
9.3.5.4 South Korea Shipbuilding Market
9.3.5.4.1 South Korea Shipbuilding Market by Type of Ship
9.3.5.4.2 South Korea Shipbuilding Market by Process
9.3.5.5 Rest of Asia-Pacific Shipbuilding Market
9.3.5.5.1 Rest of Asia-Pacific Shipbuilding Market by Type of Ship
9.3.5.5.2 Rest of Asia-Pacific Shipbuilding Market by Process
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Shipbuilding Market Overview
9.4.2 Middle East and Africa Shipbuilding Market Forecasts and Analysis
9.4.3 Middle East and Africa Shipbuilding Market Forecasts and Analysis - By Type of Ship
9.4.4 Middle East and Africa Shipbuilding Market Forecasts and Analysis - By Process
9.4.5 Middle East and Africa Shipbuilding Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Shipbuilding Market
9.4.5.1.1 South Africa Shipbuilding Market by Type of Ship
9.4.5.1.2 South Africa Shipbuilding Market by Process
9.4.5.2 Saudi Arabia Shipbuilding Market
9.4.5.2.1 Saudi Arabia Shipbuilding Market by Type of Ship
9.4.5.2.2 Saudi Arabia Shipbuilding Market by Process
9.4.5.3 U.A.E Shipbuilding Market
9.4.5.3.1 U.A.E Shipbuilding Market by Type of Ship
9.4.5.3.2 U.A.E Shipbuilding Market by Process
9.4.5.4 Rest of Middle East and Africa Shipbuilding Market
9.4.5.4.1 Rest of Middle East and Africa Shipbuilding Market by Type of Ship
9.4.5.4.2 Rest of Middle East and Africa Shipbuilding Market by Process
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Shipbuilding Market Overview
9.5.2 South and Central America Shipbuilding Market Forecasts and Analysis
9.5.3 South and Central America Shipbuilding Market Forecasts and Analysis - By Type of Ship
9.5.4 South and Central America Shipbuilding Market Forecasts and Analysis - By Process
9.5.5 South and Central America Shipbuilding Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Shipbuilding Market
9.5.5.1.1 Brazil Shipbuilding Market by Type of Ship
9.5.5.1.2 Brazil Shipbuilding Market by Process
9.5.5.2 Argentina Shipbuilding Market
9.5.5.2.1 Argentina Shipbuilding Market by Type of Ship
9.5.5.2.2 Argentina Shipbuilding Market by Process
9.5.5.3 Rest of South and Central America Shipbuilding Market
9.5.5.3.1 Rest of South and Central America Shipbuilding Market by Type of Ship
9.5.5.3.2 Rest of South and Central America Shipbuilding Market by Process
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. SHIPBUILDING MARKET, KEY COMPANY PROFILES
11.1. DSME CO., LTD.
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. HANJIN HEAVY INDUSTRIES CO., LTD.
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. HYUNDAI HEAVY INDUSTRIES CO., LTD.
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. IMABARI SHIPBUILDING CO., 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. MEYER WERFT GMBH AND CO. KG
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. MITSUBISHI HEAVY INDUSTRIES, LTD.
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. OSHIMA SHIPBUILDING CO., LTD.
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. SAMSUNG HEAVY INDUSTRIES CO., LTD
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. SHANGHAI WAIGAOQIAO SHIPBUILDING CO., LTD.
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. TSUNEISHI SHIPBUILDING CO., LTD.
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
The List of Companies
1. DSME Co., Ltd.
2. Hanjin Heavy Industries Co., Ltd.
3. Hyundai Heavy Industries Co., Ltd.
4. Imabari shipbuilding Co., Ltd.
5. MEYER WERFT GmbH and Co. KG
6. Mitsubishi Heavy Industries, Ltd.
7. Oshima Shipbuilding Co., Ltd.
8. Samsung Heavy Industries Co., Ltd
9. Shanghai Waigaoqiao Shipbuilding Co., Ltd.
10. TSUNEISHI SHIPBUILDING Co., Ltd.
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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