Solar Pump Market Strategies and Share 2031
Solar pump are exceptional as these pumps the water through energy produced from sunlight. The solar pumps are most widely used in rural or undeveloped areas that have no access to electric grid infrastructure. There is a wide range of solar pumps for various operations. The use of solar water pumps is increasing in urban cities which is driving the demand for solar pumps. The energy efficiency and cost efficiency features increase the need for solar pumps in developed regions. Developing nations are providing potential opportunity for the growth of the solar pump market, as major adoption of solar pump has been witnessed in Asia-Pacific, particularly in China, India, and Japan. Thus, surge in agricultural activities and increase in demand for electricity from renewable source of generation are the key factors driving the market growth over the forecast period.
MARKET SCOPE
The "Global Solar Pump Market Analysis to 2031" is a specialized and in-depth study of the clean energy with a special focus on the global market trend analysis. The report aims to provide an overview of the solar pump market with detailed market segmentation by product, operation, capacity, end-use industry and geography. The report provides key statistics on the market status of the leading solar pump market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of product the market is segmented into surface suction, submersible, and floating
- On the basis of operation, the market is segmented as AC pump and DC pump
- On the basis of capacity the market is segmented into Below 4 HP, 4-6 HP, 6-8 HP, and Above 8 HP
- On the basis of end-use industry the market is segmented into agriculture, water management, and others
Drivers
- Increasing investments supported by government subsidies in agricultural activities is driving the demand for solar pump
- Increasing adoption for clean energy is propelling the market growth
- Lack of awareness of solar pumps 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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America. The solar pump 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 solar pump market in these regions.
IMPACT OF COVID-19 ON SOLAR PUMP MARKET
The emergence of the COVID-19 has severely impacted the solar pump market, which resulted decline in the sale of solar power units in the year 2021. The pandemic severely impacted the solar pump manufacturers in countries such as China and India owing to shortage of workforce, unavailiblity of raw material and disruption in supply chain which eventually hampered the market growth during the pandemic. However, from 2021, ease in restrictions and reopening of industries have increased the demand for solar pumps which further augmented the production which help drives the market growth. The key players engaged in providing the solar pumps are putting efforts by providing the sector with financial assistance, technical and operational support which is helping the market to flourish in coming years. In addition, developments in the solar pump is also aiding the market to grow at faster pace. For instance, In January 2022, Gautam Solar has launched new solar pump controllers and remote monitoring units for solar PV systems. Thus, such upcoming developments in the solar pump industry along with supportive government regulations for adopting the solar pump during the pandemic recovery period is driving the market outlook.
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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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America. The solar pump 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 solar pump market in these regions.
IMPACT OF COVID-19 ON SOLAR PUMP MARKET
The emergence of the COVID-19 has severely impacted the solar pump market, which resulted decline in the sale of solar power units in the year 2021. The pandemic severely impacted the solar pump manufacturers in countries such as China and India owing to shortage of workforce, unavailiblity of raw material and disruption in supply chain which eventually hampered the market growth during the pandemic. However, from 2021, ease in restrictions and reopening of industries have increased the demand for solar pumps which further augmented the production which help drives the market growth. The key players engaged in providing the solar pumps are putting efforts by providing the sector with financial assistance, technical and operational support which is helping the market to flourish in coming years. In addition, developments in the solar pump is also aiding the market to grow at faster pace. For instance, In January 2022, Gautam Solar has launched new solar pump controllers and remote monitoring units for solar PV systems. Thus, such upcoming developments in the solar pump industry along with supportive government regulations for adopting the solar pump during the pandemic recovery period is driving the market outlook.
MARKET PLAYERS
The report covers key developments in the solar pump 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 solar pump market are anticipated to provide lucrative growth opportunities in the future owing to growing investment in agricultural activities.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar pump 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.
- Vincent Solar Energy
- Tata Power Solar Systems Ltd.
- LORENTZ
- SAMKING Solar Pump
- Lubi Electronics
- C.R.I. Pumps Private Limited
- Franklin Electric
- Glynncorp Electrical
- Aqua Group
- Oswal Pumps
- 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.
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 Solar Pump Market - By Product
1.3.2 Solar Pump Market - By Operation
1.3.3 Solar Pump Market - By Capacity
1.3.4 Solar Pump Market - By End-Use Industry
1.3.5 Solar Pump Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLAR PUMP 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. SOLAR PUMP 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. SOLAR PUMP MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLAR PUMP - GLOBAL MARKET OVERVIEW
6.2. SOLAR PUMP - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SOLAR PUMP MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SURFACE SUCTION
7.3.1. Overview
7.3.2. Surface Suction Market Forecast and Analysis
7.4. SUBMERSIBLE
7.4.1. Overview
7.4.2. Submersible Market Forecast and Analysis
7.5. FLOATING
7.5.1. Overview
7.5.2. Floating Market Forecast and Analysis
8. SOLAR PUMP MARKET - REVENUE AND FORECASTS TO 2028 - OPERATION
8.1. OVERVIEW
8.2. OPERATION MARKET FORECASTS AND ANALYSIS
8.3. AC PUMP
8.3.1. Overview
8.3.2. AC Pump Market Forecast and Analysis
8.4. DC PUMP
8.4.1. Overview
8.4.2. DC Pump Market Forecast and Analysis
9. SOLAR PUMP MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
9.1. OVERVIEW
9.2. CAPACITY MARKET FORECASTS AND ANALYSIS
9.3. BELOW 4 HP
9.3.1. Overview
9.3.2. Below 4 HP Market Forecast and Analysis
9.4. 4-6 HP
9.4.1. Overview
9.4.2. 4-6 HP Market Forecast and Analysis
9.5. 6-8 HP
9.5.1. Overview
9.5.2. 6-8 HP Market Forecast and Analysis
9.6. ABOVE 8 HP
9.6.1. Overview
9.6.2. Above 8 HP Market Forecast and Analysis
10. SOLAR PUMP MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
10.1. OVERVIEW
10.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. AGRICULTURE
10.3.1. Overview
10.3.2. Agriculture Market Forecast and Analysis
10.4. WATER MANAGEMENT
10.4.1. Overview
10.4.2. Water Management Market Forecast and Analysis
10.5. OTHERS
10.5.1. Overview
10.5.2. Others Market Forecast and Analysis
11. SOLAR PUMP MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Solar Pump Market Overview
11.1.2 North America Solar Pump Market Forecasts and Analysis
11.1.3 North America Solar Pump Market Forecasts and Analysis - By Product
11.1.4 North America Solar Pump Market Forecasts and Analysis - By Operation
11.1.5 North America Solar Pump Market Forecasts and Analysis - By Capacity
11.1.6 North America Solar Pump Market Forecasts and Analysis - By End-Use Industry
11.1.7 North America Solar Pump Market Forecasts and Analysis - By Countries
11.1.7.1 United States Solar Pump Market
11.1.7.1.1 United States Solar Pump Market by Product
11.1.7.1.2 United States Solar Pump Market by Operation
11.1.7.1.3 United States Solar Pump Market by Capacity
11.1.7.1.4 United States Solar Pump Market by End-Use Industry
11.1.7.2 Canada Solar Pump Market
11.1.7.2.1 Canada Solar Pump Market by Product
11.1.7.2.2 Canada Solar Pump Market by Operation
11.1.7.2.3 Canada Solar Pump Market by Capacity
11.1.7.2.4 Canada Solar Pump Market by End-Use Industry
11.1.7.3 Mexico Solar Pump Market
11.1.7.3.1 Mexico Solar Pump Market by Product
11.1.7.3.2 Mexico Solar Pump Market by Operation
11.1.7.3.3 Mexico Solar Pump Market by Capacity
11.1.7.3.4 Mexico Solar Pump Market by End-Use Industry
11.2. EUROPE
11.2.1 Europe Solar Pump Market Overview
11.2.2 Europe Solar Pump Market Forecasts and Analysis
11.2.3 Europe Solar Pump Market Forecasts and Analysis - By Product
11.2.4 Europe Solar Pump Market Forecasts and Analysis - By Operation
11.2.5 Europe Solar Pump Market Forecasts and Analysis - By Capacity
11.2.6 Europe Solar Pump Market Forecasts and Analysis - By End-Use Industry
11.2.7 Europe Solar Pump Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Solar Pump Market
11.2.7.1.1 Germany Solar Pump Market by Product
11.2.7.1.2 Germany Solar Pump Market by Operation
11.2.7.1.3 Germany Solar Pump Market by Capacity
11.2.7.1.4 Germany Solar Pump Market by End-Use Industry
11.2.7.2 France Solar Pump Market
11.2.7.2.1 France Solar Pump Market by Product
11.2.7.2.2 France Solar Pump Market by Operation
11.2.7.2.3 France Solar Pump Market by Capacity
11.2.7.2.4 France Solar Pump Market by End-Use Industry
11.2.7.3 Italy Solar Pump Market
11.2.7.3.1 Italy Solar Pump Market by Product
11.2.7.3.2 Italy Solar Pump Market by Operation
11.2.7.3.3 Italy Solar Pump Market by Capacity
11.2.7.3.4 Italy Solar Pump Market by End-Use Industry
11.2.7.4 United Kingdom Solar Pump Market
11.2.7.4.1 United Kingdom Solar Pump Market by Product
11.2.7.4.2 United Kingdom Solar Pump Market by Operation
11.2.7.4.3 United Kingdom Solar Pump Market by Capacity
11.2.7.4.4 United Kingdom Solar Pump Market by End-Use Industry
11.2.7.5 Russia Solar Pump Market
11.2.7.5.1 Russia Solar Pump Market by Product
11.2.7.5.2 Russia Solar Pump Market by Operation
11.2.7.5.3 Russia Solar Pump Market by Capacity
11.2.7.5.4 Russia Solar Pump Market by End-Use Industry
11.2.7.6 Rest of Europe Solar Pump Market
11.2.7.6.1 Rest of Europe Solar Pump Market by Product
11.2.7.6.2 Rest of Europe Solar Pump Market by Operation
11.2.7.6.3 Rest of Europe Solar Pump Market by Capacity
11.2.7.6.4 Rest of Europe Solar Pump Market by End-Use Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Solar Pump Market Overview
11.3.2 Asia-Pacific Solar Pump Market Forecasts and Analysis
11.3.3 Asia-Pacific Solar Pump Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Solar Pump Market Forecasts and Analysis - By Operation
11.3.5 Asia-Pacific Solar Pump Market Forecasts and Analysis - By Capacity
11.3.6 Asia-Pacific Solar Pump Market Forecasts and Analysis - By End-Use Industry
11.3.7 Asia-Pacific Solar Pump Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Solar Pump Market
11.3.7.1.1 Australia Solar Pump Market by Product
11.3.7.1.2 Australia Solar Pump Market by Operation
11.3.7.1.3 Australia Solar Pump Market by Capacity
11.3.7.1.4 Australia Solar Pump Market by End-Use Industry
11.3.7.2 China Solar Pump Market
11.3.7.2.1 China Solar Pump Market by Product
11.3.7.2.2 China Solar Pump Market by Operation
11.3.7.2.3 China Solar Pump Market by Capacity
11.3.7.2.4 China Solar Pump Market by End-Use Industry
11.3.7.3 India Solar Pump Market
11.3.7.3.1 India Solar Pump Market by Product
11.3.7.3.2 India Solar Pump Market by Operation
11.3.7.3.3 India Solar Pump Market by Capacity
11.3.7.3.4 India Solar Pump Market by End-Use Industry
11.3.7.4 Japan Solar Pump Market
11.3.7.4.1 Japan Solar Pump Market by Product
11.3.7.4.2 Japan Solar Pump Market by Operation
11.3.7.4.3 Japan Solar Pump Market by Capacity
11.3.7.4.4 Japan Solar Pump Market by End-Use Industry
11.3.7.5 South Korea Solar Pump Market
11.3.7.5.1 South Korea Solar Pump Market by Product
11.3.7.5.2 South Korea Solar Pump Market by Operation
11.3.7.5.3 South Korea Solar Pump Market by Capacity
11.3.7.5.4 South Korea Solar Pump Market by End-Use Industry
11.3.7.6 Rest of Asia-Pacific Solar Pump Market
11.3.7.6.1 Rest of Asia-Pacific Solar Pump Market by Product
11.3.7.6.2 Rest of Asia-Pacific Solar Pump Market by Operation
11.3.7.6.3 Rest of Asia-Pacific Solar Pump Market by Capacity
11.3.7.6.4 Rest of Asia-Pacific Solar Pump Market by End-Use Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Solar Pump Market Overview
11.4.2 Middle East and Africa Solar Pump Market Forecasts and Analysis
11.4.3 Middle East and Africa Solar Pump Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Solar Pump Market Forecasts and Analysis - By Operation
11.4.5 Middle East and Africa Solar Pump Market Forecasts and Analysis - By Capacity
11.4.6 Middle East and Africa Solar Pump Market Forecasts and Analysis - By End-Use Industry
11.4.7 Middle East and Africa Solar Pump Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Solar Pump Market
11.4.7.1.1 South Africa Solar Pump Market by Product
11.4.7.1.2 South Africa Solar Pump Market by Operation
11.4.7.1.3 South Africa Solar Pump Market by Capacity
11.4.7.1.4 South Africa Solar Pump Market by End-Use Industry
11.4.7.2 Saudi Arabia Solar Pump Market
11.4.7.2.1 Saudi Arabia Solar Pump Market by Product
11.4.7.2.2 Saudi Arabia Solar Pump Market by Operation
11.4.7.2.3 Saudi Arabia Solar Pump Market by Capacity
11.4.7.2.4 Saudi Arabia Solar Pump Market by End-Use Industry
11.4.7.3 U.A.E Solar Pump Market
11.4.7.3.1 U.A.E Solar Pump Market by Product
11.4.7.3.2 U.A.E Solar Pump Market by Operation
11.4.7.3.3 U.A.E Solar Pump Market by Capacity
11.4.7.3.4 U.A.E Solar Pump Market by End-Use Industry
11.4.7.4 Rest of Middle East and Africa Solar Pump Market
11.4.7.4.1 Rest of Middle East and Africa Solar Pump Market by Product
11.4.7.4.2 Rest of Middle East and Africa Solar Pump Market by Operation
11.4.7.4.3 Rest of Middle East and Africa Solar Pump Market by Capacity
11.4.7.4.4 Rest of Middle East and Africa Solar Pump Market by End-Use Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Solar Pump Market Overview
11.5.2 South and Central America Solar Pump Market Forecasts and Analysis
11.5.3 South and Central America Solar Pump Market Forecasts and Analysis - By Product
11.5.4 South and Central America Solar Pump Market Forecasts and Analysis - By Operation
11.5.5 South and Central America Solar Pump Market Forecasts and Analysis - By Capacity
11.5.6 South and Central America Solar Pump Market Forecasts and Analysis - By End-Use Industry
11.5.7 South and Central America Solar Pump Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Solar Pump Market
11.5.7.1.1 Brazil Solar Pump Market by Product
11.5.7.1.2 Brazil Solar Pump Market by Operation
11.5.7.1.3 Brazil Solar Pump Market by Capacity
11.5.7.1.4 Brazil Solar Pump Market by End-Use Industry
11.5.7.2 Argentina Solar Pump Market
11.5.7.2.1 Argentina Solar Pump Market by Product
11.5.7.2.2 Argentina Solar Pump Market by Operation
11.5.7.2.3 Argentina Solar Pump Market by Capacity
11.5.7.2.4 Argentina Solar Pump Market by End-Use Industry
11.5.7.3 Rest of South and Central America Solar Pump Market
11.5.7.3.1 Rest of South and Central America Solar Pump Market by Product
11.5.7.3.2 Rest of South and Central America Solar Pump Market by Operation
11.5.7.3.3 Rest of South and Central America Solar Pump Market by Capacity
11.5.7.3.4 Rest of South and Central America Solar Pump Market by End-Use Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. SOLAR PUMP MARKET, KEY COMPANY PROFILES
13.1. VINCENT SOLAR ENERGY
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. TATA POWER SOLAR SYSTEMS LTD.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. LORENTZ
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. SAMKING SOLAR PUMP
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. LUBI ELECTRONICS
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. C.R.I. PUMPS PRIVATE LIMITED
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. FRANKLIN ELECTRIC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. GLYNNCORP ELECTRICAL
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. AQUA GROUP
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. OSWAL PUMPS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List Of Companies
- Vincent Solar Energy
- Tata Power Solar Systems Ltd.
- LORENTZ
- SAMKING Solar Pump
- Lubi Electronics
- C.R.I. Pumps Private Limited
- Franklin Electric
- Glynncorp Electrical
- Aqua Group
- Oswal Pumps
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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