Shotcrete Sprayed Concrete Market Key Findings by 2031
Shotcrete or sprayed concrete is projected onto the surface at high velocity through the pneumatic system. Sprayed concrete is reinforced by steel rods, steel mesh, or fibers. Two types of process, i.e., wet mix and dry mix process, are used in application of shotcrete concrete. Cement gun often used in dry mix process and true gun method is used in wet mix process in the application of sprayed concrete. Shotcrete concrete has properties such as good water-cement ratio, excellent strength, high density and permeability, freeze and thaw resistance, high adhesion and bond strength, thickness, amongst others. Material for the shotcrete cementing process is either ready mixed supplied or pre-proportioned in the factory. Shotcrete or sprayed cement is used in mines, tunnels and other civil engineering structures.
MARKET DYNAMICS
The economic & technical ability and sustainability of shotcrete materials will drive the demand growth for the shotcrete/sprayed concrete market. Additionally, the rapid development of shotcrete concrete technology will propel the demand for the shotcrete or sprayed cement market. Predominantly, challenges regarding the transportation of concrete mix may hamper the market growth for the shotcrete/sprayed concrete market. However, the growing demand for low-cost housing will create opportunities for the shotcrete/sprayed concrete market.
MARKET SCOPE
The "Shotcrete/Sprayed Concrete Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the shotcrete/sprayed concrete market with detailed market segmentation by process, application, system and region. The shotcrete/sprayed concrete market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading shotcrete/sprayed concrete market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The shotcrete/sprayed concrete market is segmented on the basis of process, application, system. On the basis of process, the shotcrete/sprayed concrete market is segmented into, wet mix shotcrete process, dry mix shotcrete process. On the basis of application, the shotcrete/sprayed concrete market is segmented into, underground construction, water retaining structures, repair works, protective coatings, others. On the basis of system, the shotcrete/sprayed concrete market is segmented into, Robotic spraying system, manual system.
REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the shotcrete/sprayed concrete market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The shotcrete/sprayed concrete 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 shotcrete/sprayed concrete 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 trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the shotcrete/sprayed concrete market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the shotcrete/sprayed concrete market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The shotcrete/sprayed concrete 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 shotcrete/sprayed concrete 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 trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the shotcrete/sprayed concrete market in these regions.
MARKET PLAYERSThe reports cover key developments in the shotcrete/sprayed concrete market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from shotcrete/sprayed concrete market are anticipated to lucrative growth opportunities in the future with the rising demand for shotcrete/sprayed concrete in the global market. Below mentioned is the list of few companies engaged in the shotcrete/sprayed concrete market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the shotcrete/sprayed concrete 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.
- BASF SE
- Cemex S.A.B. De C.V.
- GCP Applied Technologies, Inc.
- Heidelbergcement AG
- KPM Industries Ltd.
- Lafargeholcim
- Quikrete Companies, Inc.
- Sika AG
- The Euclid Chemical Company
- U.S. Concrete, Inc.
- 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 Shotcrete Sprayed Concrete Market - By Process
1.3.2 Shotcrete Sprayed Concrete Market - By Application
1.3.3 Shotcrete Sprayed Concrete Market - By System
1.3.4 Shotcrete Sprayed Concrete Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. SHOTCRETE SPRAYED CONCRETE 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. SHOTCRETE SPRAYED CONCRETE 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. SHOTCRETE SPRAYED CONCRETE MARKET - GLOBAL MARKET ANALYSIS
6.1. SHOTCRETE SPRAYED CONCRETE - GLOBAL MARKET OVERVIEW
6.2. SHOTCRETE SPRAYED CONCRETE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SHOTCRETE SPRAYED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
7.1. OVERVIEW
7.2. PROCESS MARKET FORECASTS AND ANALYSIS
7.3. WET MIX SHOTCRETE PROCESS
7.3.1. Overview
7.3.2. Wet Mix Shotcrete Process Market Forecast and Analysis
7.4. DRY MIX SHOTCRETE PROCESS
7.4.1. Overview
7.4.2. Dry Mix Shotcrete Process Market Forecast and Analysis
8. SHOTCRETE SPRAYED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. UNDERGROUND CONSTRUCTION
8.3.1. Overview
8.3.2. Underground Construction Market Forecast and Analysis
8.4. WATER RETAINING STRUCTURES
8.4.1. Overview
8.4.2. Water Retaining Structures Market Forecast and Analysis
8.5. REPAIR WORKS
8.5.1. Overview
8.5.2. Repair Works Market Forecast and Analysis
8.6. PROTECTIVE COATINGS
8.6.1. Overview
8.6.2. Protective Coatings Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SHOTCRETE SPRAYED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - SYSTEM
9.1. OVERVIEW
9.2. SYSTEM MARKET FORECASTS AND ANALYSIS
9.3. ROBOTIC SPRAYING SYSTEM
9.3.1. Overview
9.3.2. Robotic Spraying System Market Forecast and Analysis
9.4. MANUAL SYSTEM
9.4.1. Overview
9.4.2. Manual System Market Forecast and Analysis
10. SHOTCRETE SPRAYED CONCRETE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Shotcrete Sprayed Concrete Market Overview
10.1.2 North America Shotcrete Sprayed Concrete Market Forecasts and Analysis
10.1.3 North America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Process
10.1.4 North America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Application
10.1.5 North America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By System
10.1.6 North America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Shotcrete Sprayed Concrete Market
10.1.6.1.1 Canada Shotcrete Sprayed Concrete Market by Process
10.1.6.1.2 Canada Shotcrete Sprayed Concrete Market by Application
10.1.6.1.3 Canada Shotcrete Sprayed Concrete Market by System
10.1.6.2 Mexico Shotcrete Sprayed Concrete Market
10.1.6.2.1 Mexico Shotcrete Sprayed Concrete Market by Process
10.1.6.2.2 Mexico Shotcrete Sprayed Concrete Market by Application
10.1.6.2.3 Mexico Shotcrete Sprayed Concrete Market by System
10.1.6.3 US Shotcrete Sprayed Concrete Market
10.1.6.3.1 US Shotcrete Sprayed Concrete Market by Process
10.1.6.3.2 US Shotcrete Sprayed Concrete Market by Application
10.1.6.3.3 US Shotcrete Sprayed Concrete Market by System
10.2. EUROPE
10.2.1 Europe Shotcrete Sprayed Concrete Market Overview
10.2.2 Europe Shotcrete Sprayed Concrete Market Forecasts and Analysis
10.2.3 Europe Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Process
10.2.4 Europe Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Application
10.2.5 Europe Shotcrete Sprayed Concrete Market Forecasts and Analysis - By System
10.2.6 Europe Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Shotcrete Sprayed Concrete Market
10.2.6.1.1 Germany Shotcrete Sprayed Concrete Market by Process
10.2.6.1.2 Germany Shotcrete Sprayed Concrete Market by Application
10.2.6.1.3 Germany Shotcrete Sprayed Concrete Market by System
10.2.6.2 France Shotcrete Sprayed Concrete Market
10.2.6.2.1 France Shotcrete Sprayed Concrete Market by Process
10.2.6.2.2 France Shotcrete Sprayed Concrete Market by Application
10.2.6.2.3 France Shotcrete Sprayed Concrete Market by System
10.2.6.3 Italy Shotcrete Sprayed Concrete Market
10.2.6.3.1 Italy Shotcrete Sprayed Concrete Market by Process
10.2.6.3.2 Italy Shotcrete Sprayed Concrete Market by Application
10.2.6.3.3 Italy Shotcrete Sprayed Concrete Market by System
10.2.6.4 United Kingdom Shotcrete Sprayed Concrete Market
10.2.6.4.1 United Kingdom Shotcrete Sprayed Concrete Market by Process
10.2.6.4.2 United Kingdom Shotcrete Sprayed Concrete Market by Application
10.2.6.4.3 United Kingdom Shotcrete Sprayed Concrete Market by System
10.2.6.5 Russia Shotcrete Sprayed Concrete Market
10.2.6.5.1 Russia Shotcrete Sprayed Concrete Market by Process
10.2.6.5.2 Russia Shotcrete Sprayed Concrete Market by Application
10.2.6.5.3 Russia Shotcrete Sprayed Concrete Market by System
10.2.6.6 Rest of Europe Shotcrete Sprayed Concrete Market
10.2.6.6.1 Rest of Europe Shotcrete Sprayed Concrete Market by Process
10.2.6.6.2 Rest of Europe Shotcrete Sprayed Concrete Market by Application
10.2.6.6.3 Rest of Europe Shotcrete Sprayed Concrete Market by System
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Shotcrete Sprayed Concrete Market Overview
10.3.2 Asia-Pacific Shotcrete Sprayed Concrete Market Forecasts and Analysis
10.3.3 Asia-Pacific Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Process
10.3.4 Asia-Pacific Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Shotcrete Sprayed Concrete Market Forecasts and Analysis - By System
10.3.6 Asia-Pacific Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Shotcrete Sprayed Concrete Market
10.3.6.1.1 Australia Shotcrete Sprayed Concrete Market by Process
10.3.6.1.2 Australia Shotcrete Sprayed Concrete Market by Application
10.3.6.1.3 Australia Shotcrete Sprayed Concrete Market by System
10.3.6.2 China Shotcrete Sprayed Concrete Market
10.3.6.2.1 China Shotcrete Sprayed Concrete Market by Process
10.3.6.2.2 China Shotcrete Sprayed Concrete Market by Application
10.3.6.2.3 China Shotcrete Sprayed Concrete Market by System
10.3.6.3 India Shotcrete Sprayed Concrete Market
10.3.6.3.1 India Shotcrete Sprayed Concrete Market by Process
10.3.6.3.2 India Shotcrete Sprayed Concrete Market by Application
10.3.6.3.3 India Shotcrete Sprayed Concrete Market by System
10.3.6.4 Japan Shotcrete Sprayed Concrete Market
10.3.6.4.1 Japan Shotcrete Sprayed Concrete Market by Process
10.3.6.4.2 Japan Shotcrete Sprayed Concrete Market by Application
10.3.6.4.3 Japan Shotcrete Sprayed Concrete Market by System
10.3.6.5 South Korea Shotcrete Sprayed Concrete Market
10.3.6.5.1 South Korea Shotcrete Sprayed Concrete Market by Process
10.3.6.5.2 South Korea Shotcrete Sprayed Concrete Market by Application
10.3.6.5.3 South Korea Shotcrete Sprayed Concrete Market by System
10.3.6.6 Rest of Asia-Pacific Shotcrete Sprayed Concrete Market
10.3.6.6.1 Rest of Asia-Pacific Shotcrete Sprayed Concrete Market by Process
10.3.6.6.2 Rest of Asia-Pacific Shotcrete Sprayed Concrete Market by Application
10.3.6.6.3 Rest of Asia-Pacific Shotcrete Sprayed Concrete Market by System
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Shotcrete Sprayed Concrete Market Overview
10.4.2 Middle East and Africa Shotcrete Sprayed Concrete Market Forecasts and Analysis
10.4.3 Middle East and Africa Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Process
10.4.4 Middle East and Africa Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Shotcrete Sprayed Concrete Market Forecasts and Analysis - By System
10.4.6 Middle East and Africa Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Shotcrete Sprayed Concrete Market
10.4.6.1.1 South Africa Shotcrete Sprayed Concrete Market by Process
10.4.6.1.2 South Africa Shotcrete Sprayed Concrete Market by Application
10.4.6.1.3 South Africa Shotcrete Sprayed Concrete Market by System
10.4.6.2 Saudi Arabia Shotcrete Sprayed Concrete Market
10.4.6.2.1 Saudi Arabia Shotcrete Sprayed Concrete Market by Process
10.4.6.2.2 Saudi Arabia Shotcrete Sprayed Concrete Market by Application
10.4.6.2.3 Saudi Arabia Shotcrete Sprayed Concrete Market by System
10.4.6.3 U.A.E Shotcrete Sprayed Concrete Market
10.4.6.3.1 U.A.E Shotcrete Sprayed Concrete Market by Process
10.4.6.3.2 U.A.E Shotcrete Sprayed Concrete Market by Application
10.4.6.3.3 U.A.E Shotcrete Sprayed Concrete Market by System
10.4.6.4 Rest of Middle East and Africa Shotcrete Sprayed Concrete Market
10.4.6.4.1 Rest of Middle East and Africa Shotcrete Sprayed Concrete Market by Process
10.4.6.4.2 Rest of Middle East and Africa Shotcrete Sprayed Concrete Market by Application
10.4.6.4.3 Rest of Middle East and Africa Shotcrete Sprayed Concrete Market by System
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Shotcrete Sprayed Concrete Market Overview
10.5.2 South and Central America Shotcrete Sprayed Concrete Market Forecasts and Analysis
10.5.3 South and Central America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Process
10.5.4 South and Central America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Application
10.5.5 South and Central America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By System
10.5.6 South and Central America Shotcrete Sprayed Concrete Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Shotcrete Sprayed Concrete Market
10.5.6.1.1 Brazil Shotcrete Sprayed Concrete Market by Process
10.5.6.1.2 Brazil Shotcrete Sprayed Concrete Market by Application
10.5.6.1.3 Brazil Shotcrete Sprayed Concrete Market by System
10.5.6.2 Argentina Shotcrete Sprayed Concrete Market
10.5.6.2.1 Argentina Shotcrete Sprayed Concrete Market by Process
10.5.6.2.2 Argentina Shotcrete Sprayed Concrete Market by Application
10.5.6.2.3 Argentina Shotcrete Sprayed Concrete Market by System
10.5.6.3 Rest of South and Central America Shotcrete Sprayed Concrete Market
10.5.6.3.1 Rest of South and Central America Shotcrete Sprayed Concrete Market by Process
10.5.6.3.2 Rest of South and Central America Shotcrete Sprayed Concrete Market by Application
10.5.6.3.3 Rest of South and Central America Shotcrete Sprayed Concrete Market by System
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. SHOTCRETE SPRAYED CONCRETE MARKET, KEY COMPANY PROFILES
12.1. BASF SE
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. CEMEX S.A.B. DE C.V.
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. GCP APPLIED TECHNOLOGIES, INC.
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. HEIDELBERGCEMENT AG
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. KPM INDUSTRIES LTD.
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. LAFARGEHOLCIM
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. QUIKRETE COMPANIES, INC.
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. SIKA AG
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. THE EUCLID CHEMICAL COMPANY
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. U.S. CONCRETE, 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. BASF SE
2. Cemex S.A.B. De C.V.
3. GCP Applied Technologies, Inc.
4. Heidelbergcement AG
5. KPM Industries Ltd.
6. Lafargeholcim
7. Quikrete Companies, Inc.
8. Sika AG
9. The Euclid Chemical Company
10. U.S. Concrete, 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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