Steam Boiler Market SWOT Analysis by 2031
A steam boiler is a steam producing heating system. It creates energy by heating water to get steam. It is a heat exchanger that makes steam for outside usage and has a combustion chamber and water container. The several varieties of steam boilers include those that are very small and those that are large for more demanding jobs. A steam boiler burns fuel to heat water. The combination of heat and water produces steam. There are three forms of heat used to generate steam: radiation, convection, and conduction.
MARKET DYNAMICS
The factors such as growing industrialization and the increasing use of electrical appliances and machinery along with the growing economic activities are rising the demand for electricity. Thus, boosting the steam boiler system market. Moreover, an increase in power plant capacity addition owing to the construction of new power plants and in the refurbishment of existing ones across the world is expected to escalate the global market. Furthermore, factors such as urban population, supportive industrial growth policies, low-cost raw materials, ease of availability, and cheap labor cost have positively anticipated to propel the global steam boiler system market.
MARKET SCOPE
The ˜Global Steam Boiler Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the steam boiler market with detailed market segmentation by type, fuel and end-user. The global steam boiler market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steam boiler market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Type: The global market is divided into Water tube boiler and Fire tube boiler.
2. By Fuel: The global market is divided into Oil-fired Steam Boiler, Coal-fired Steam Boiler, Gas-fired Steam Boiler, Electric Steam Boiler, and Others.
3. By End-Users: The global market is segmented into Oil and Gas, Chemical, Power Generation, and Others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The steam boiler 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 steam boiler market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the steam boiler market in these regions.
IMPACT OF COVID 19
The spread of COVID-19 has negatively impacted the global steam boilers market owing to the lockdowns imposed in the majority of the countries across the globe since December 2019. Industrial boilers are closed vessels in which fluid is heated. Steam boilers are used to generate steam for use in different applications such as power generation, agricultural soil steaming, and others. Rapid industrialization, coupled with increasing investments toward the expansion of manufacturing facilities, is expected to drive the global steam boilers market. The demand for industrial boilers is anticipated to bounce back in the coming months and grow significantly in the long term.
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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 also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The steam boiler 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 steam boiler market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the steam boiler market in these regions.
IMPACT OF COVID 19
The spread of COVID-19 has negatively impacted the global steam boilers market owing to the lockdowns imposed in the majority of the countries across the globe since December 2019. Industrial boilers are closed vessels in which fluid is heated. Steam boilers are used to generate steam for use in different applications such as power generation, agricultural soil steaming, and others. Rapid industrialization, coupled with increasing investments toward the expansion of manufacturing facilities, is expected to drive the global steam boilers market. The demand for industrial boilers is anticipated to bounce back in the coming months and grow significantly in the long term.
MARKET PLAYERS
The report covers vital developments in the steam boiler 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 partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the steam boiler market are anticipated to have lucrative growth opportunities in the future with the rising demand for steam boiler in the global market. Below mentioned is the list of a few companies engaged in the steam boiler market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the steam boiler market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- ALFA LAVAL AB
- Babcock and Wilcox Enterprises, Inc.
- Forbes Marshall
- GENERAL ELECTRIC
- Hurst Boiler and Welding Co, Inc.
- IHI Corporation
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- THERMAX LIMITED
- Thyssenkrupp AG
- Viessmann Limited
- 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
1.3.1Steam Boiler Market - By Type
1.3.2Steam Boiler Market - By Fuel
1.3.3Steam Boiler Market - By End-user
1.3.4Steam Boiler Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.STEAM BOILER MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.STEAM BOILER 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.STEAM BOILER MARKET - GLOBAL MARKET ANALYSIS
6.1.STEAM BOILER - GLOBAL MARKET OVERVIEW
6.2.STEAM BOILER - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.STEAM BOILER MARKET - REVENUE AND FORECASTS TO 2028 " TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.WATER TUBE BOILER
7.3.1.Overview
7.3.2.Water tube boiler Market Forecast and Analysis
7.4.FIRE TUBE BOILER
7.4.1.Overview
7.4.2.Fire tube boiler Market Forecast and Analysis
8.STEAM BOILER MARKET - REVENUE AND FORECASTS TO 2028 " FUEL
8.1.OVERVIEW
8.2.FUEL MARKET FORECASTS AND ANALYSIS
8.3.OIL-FIRED STEAM BOILER
8.3.1.Overview
8.3.2.Oil-fired Steam Boiler Market Forecast and Analysis
8.4.COAL-FIRED STEAM BOILER
8.4.1.Overview
8.4.2.Coal-fired Steam Boiler Market Forecast and Analysis
8.5.GAS-FIRED STEAM BOILER
8.5.1.Overview
8.5.2.Gas-fired Steam Boiler Market Forecast and Analysis
8.6.ELECTRIC STEAM BOILER
8.6.1.Overview
8.6.2.Electric Steam Boiler Market Forecast and Analysis
8.7.OTHERS.
8.7.1.Overview
8.7.2.Others. Market Forecast and Analysis
9.STEAM BOILER MARKET - REVENUE AND FORECASTS TO 2028 " END-USER
9.1.OVERVIEW
9.2.END-USER MARKET FORECASTS AND ANALYSIS
9.3.OIL AND GAS
9.3.1.Overview
9.3.2.Oil and Gas Market Forecast and Analysis
9.4.CHEMICAL
9.4.1.Overview
9.4.2.Chemical Market Forecast and Analysis
9.5.POWER GENERATION
9.5.1.Overview
9.5.2.Power Generation Market Forecast and Analysis
9.6.OTHERS
9.6.1.Overview
9.6.2.Others Market Forecast and Analysis
10.STEAM BOILER MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Steam Boiler Market Overview
10.1.2North America Steam Boiler Market Forecasts and Analysis
10.1.3North America Steam Boiler Market Forecasts and Analysis - By Type
10.1.4North America Steam Boiler Market Forecasts and Analysis - By Fuel
10.1.5North America Steam Boiler Market Forecasts and Analysis - By End-user
10.1.6North America Steam Boiler Market Forecasts and Analysis - By Countries
10.1.6.1United States Steam Boiler Market
10.1.6.1.1United States Steam Boiler Market by Type
10.1.6.1.2United States Steam Boiler Market by Fuel
10.1.6.1.3United States Steam Boiler Market by End-user
10.1.6.2Canada Steam Boiler Market
10.1.6.2.1Canada Steam Boiler Market by Type
10.1.6.2.2Canada Steam Boiler Market by Fuel
10.1.6.2.3Canada Steam Boiler Market by End-user
10.1.6.3Mexico Steam Boiler Market
10.1.6.3.1Mexico Steam Boiler Market by Type
10.1.6.3.2Mexico Steam Boiler Market by Fuel
10.1.6.3.3Mexico Steam Boiler Market by End-user
10.2.EUROPE
10.2.1Europe Steam Boiler Market Overview
10.2.2Europe Steam Boiler Market Forecasts and Analysis
10.2.3Europe Steam Boiler Market Forecasts and Analysis - By Type
10.2.4Europe Steam Boiler Market Forecasts and Analysis - By Fuel
10.2.5Europe Steam Boiler Market Forecasts and Analysis - By End-user
10.2.6Europe Steam Boiler Market Forecasts and Analysis - By Countries
10.2.6.1Germany Steam Boiler Market
10.2.6.1.1Germany Steam Boiler Market by Type
10.2.6.1.2Germany Steam Boiler Market by Fuel
10.2.6.1.3Germany Steam Boiler Market by End-user
10.2.6.2France Steam Boiler Market
10.2.6.2.1France Steam Boiler Market by Type
10.2.6.2.2France Steam Boiler Market by Fuel
10.2.6.2.3France Steam Boiler Market by End-user
10.2.6.3Italy Steam Boiler Market
10.2.6.3.1Italy Steam Boiler Market by Type
10.2.6.3.2Italy Steam Boiler Market by Fuel
10.2.6.3.3Italy Steam Boiler Market by End-user
10.2.6.4Spain Steam Boiler Market
10.2.6.4.1Spain Steam Boiler Market by Type
10.2.6.4.2Spain Steam Boiler Market by Fuel
10.2.6.4.3Spain Steam Boiler Market by End-user
10.2.6.5United Kingdom Steam Boiler Market
10.2.6.5.1United Kingdom Steam Boiler Market by Type
10.2.6.5.2United Kingdom Steam Boiler Market by Fuel
10.2.6.5.3United Kingdom Steam Boiler Market by End-user
10.2.6.6Russia Steam Boiler Market
10.2.6.6.1Russia Steam Boiler Market by Type
10.2.6.6.2Russia Steam Boiler Market by Fuel
10.2.6.6.3Russia Steam Boiler Market by End-user
10.2.6.7Rest of Europe Steam Boiler Market
10.2.6.7.1Rest of Europe Steam Boiler Market by Type
10.2.6.7.2Rest of Europe Steam Boiler Market by Fuel
10.2.6.7.3Rest of Europe Steam Boiler Market by End-user
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Steam Boiler Market Overview
10.3.2Asia-Pacific Steam Boiler Market Forecasts and Analysis
10.3.3Asia-Pacific Steam Boiler Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Steam Boiler Market Forecasts and Analysis - By Fuel
10.3.5Asia-Pacific Steam Boiler Market Forecasts and Analysis - By End-user
10.3.6Asia-Pacific Steam Boiler Market Forecasts and Analysis - By Countries
10.3.6.1Australia Steam Boiler Market
10.3.6.1.1Australia Steam Boiler Market by Type
10.3.6.1.2Australia Steam Boiler Market by Fuel
10.3.6.1.3Australia Steam Boiler Market by End-user
10.3.6.2China Steam Boiler Market
10.3.6.2.1China Steam Boiler Market by Type
10.3.6.2.2China Steam Boiler Market by Fuel
10.3.6.2.3China Steam Boiler Market by End-user
10.3.6.3India Steam Boiler Market
10.3.6.3.1India Steam Boiler Market by Type
10.3.6.3.2India Steam Boiler Market by Fuel
10.3.6.3.3India Steam Boiler Market by End-user
10.3.6.4Japan Steam Boiler Market
10.3.6.4.1Japan Steam Boiler Market by Type
10.3.6.4.2Japan Steam Boiler Market by Fuel
10.3.6.4.3Japan Steam Boiler Market by End-user
10.3.6.5Rest of Asia-Pacific Steam Boiler Market
10.3.6.5.1Rest of Asia-Pacific Steam Boiler Market by Type
10.3.6.5.2Rest of Asia-Pacific Steam Boiler Market by Fuel
10.3.6.5.3Rest of Asia-Pacific Steam Boiler Market by End-user
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Steam Boiler Market Overview
10.4.2Middle East and Africa Steam Boiler Market Forecasts and Analysis
10.4.3Middle East and Africa Steam Boiler Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Steam Boiler Market Forecasts and Analysis - By Fuel
10.4.5Middle East and Africa Steam Boiler Market Forecasts and Analysis - By End-user
10.4.6Middle East and Africa Steam Boiler Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Steam Boiler Market
10.4.6.1.1South Africa Steam Boiler Market by Type
10.4.6.1.2South Africa Steam Boiler Market by Fuel
10.4.6.1.3South Africa Steam Boiler Market by End-user
10.4.6.2Saudi Arabia Steam Boiler Market
10.4.6.2.1Saudi Arabia Steam Boiler Market by Type
10.4.6.2.2Saudi Arabia Steam Boiler Market by Fuel
10.4.6.2.3Saudi Arabia Steam Boiler Market by End-user
10.4.6.3U.A.E Steam Boiler Market
10.4.6.3.1U.A.E Steam Boiler Market by Type
10.4.6.3.2U.A.E Steam Boiler Market by Fuel
10.4.6.3.3U.A.E Steam Boiler Market by End-user
10.4.6.4Rest of Middle East and Africa Steam Boiler Market
10.4.6.4.1Rest of Middle East and Africa Steam Boiler Market by Type
10.4.6.4.2Rest of Middle East and Africa Steam Boiler Market by Fuel
10.4.6.4.3Rest of Middle East and Africa Steam Boiler Market by End-user
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Steam Boiler Market Overview
10.5.2South and Central America Steam Boiler Market Forecasts and Analysis
10.5.3South and Central America Steam Boiler Market Forecasts and Analysis - By Type
10.5.4South and Central America Steam Boiler Market Forecasts and Analysis - By Fuel
10.5.5South and Central America Steam Boiler Market Forecasts and Analysis - By End-user
10.5.6South and Central America Steam Boiler Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Steam Boiler Market
10.5.6.1.1Brazil Steam Boiler Market by Type
10.5.6.1.2Brazil Steam Boiler Market by Fuel
10.5.6.1.3Brazil Steam Boiler Market by End-user
10.5.6.2Argentina Steam Boiler Market
10.5.6.2.1Argentina Steam Boiler Market by Type
10.5.6.2.2Argentina Steam Boiler Market by Fuel
10.5.6.2.3Argentina Steam Boiler Market by End-user
10.5.6.3Rest of South and Central America Steam Boiler Market
10.5.6.3.1Rest of South and Central America Steam Boiler Market by Type
10.5.6.3.2Rest of South and Central America Steam Boiler Market by Fuel
10.5.6.3.3Rest of South and Central America Steam Boiler Market by End-user
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.STEAM BOILER MARKET, KEY COMPANY PROFILES
12.1.ALFA LAVAL AB
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.BABCOCK AND WILCOX ENTERPRISES, INC.
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.FORBES MARSHALL
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.GENERAL ELECTRIC
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.HURST BOILER AND WELDING CO, INC.
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.IHI CORPORATION
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.MITSUBISHI HEAVY INDUSTRIES, LTD.
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.THERMAX LIMITED
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.THYSSENKRUPP AG
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments
12.10.VIESSMANN LIMITED
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.ALFA LAVAL AB
2.Babcock and Wilcox Enterprises, Inc.
3.Forbes Marshall
4.GENERAL ELECTRIC
5.Hurst Boiler and Welding Co, Inc.
6.IHI Corporation
7.MITSUBISHI HEAVY INDUSTRIES, LTD.
8.THERMAX LIMITED
9.Thyssenkrupp AG
10.Viessmann Limited
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.
Get Free Sample For