Summer Tires Market Dynamics 2021-2031
The Summer Tire Market is expected to register a CAGR of 4.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Summer Tires Market covers analysis Tire Type (Radial, Bias); Rim Size (15', 16'- 19', 20' and above) By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle);
Purpose of the ReportThe report Summer Tire Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Summer Tire Market Segmentation
Tire Type- Radial
- Bias;
- 15'
- 16'- 19'
- 20' and above B
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Summer Tire Market Growth Drivers- Increasing Demand for High-Performance Vehicles: The rising popularity of high-performance vehicles, sports cars, and luxury automobiles has fueled the summer tire industry. These cars frequently require specific tires to improve performance, handling, and stability, especially in hot weather. Summer tires, which are built for dry and wet conditions at higher temperatures, offer improved traction, braking, and cornering characteristics, making them the favored choice for enthusiasts and performance vehicle owners. As global demand for such cars increases, so will the demand for summer tires.
- Seasonal Change and Consumer Awareness of Summer Tires: As more people understand the benefits of using seasonally suitable tires, the demand for summer tires rises throughout the warmer months. Many regions with distinct seasonal transitions experience an increase in tire sales when temperatures rise over 7°C (45°F), the point at which summer tires outperform all-season tires. Drivers know that summer tires provide superior performance, shorter stopping distances, and enhanced handling in warmer weather, resulting in increased use of these tires for safety and comfort.
- Technological Advancements in Tire Manufacturing: Continuous developments in tire technology, including new rubber compounds and tread designs, have resulted in summer tires that are more durable, fuel-efficient, and responsive. Manufacturers use modern materials and technology to improve performance qualities such as lowering rolling resistance and boosting wet and dry traction. These advances make summer tires more enticing to consumers looking for better fuel economy, more safety, and higher performance. The availability of these innovative technologies continues to fuel the expansion of the summer tire industry.
- Development of Run-Flat Summer Tires: Run-flat tires, which allow drivers to drive for a limited distance after a puncture, are gaining popularity in the summer tire market. These tires are intended to provide increased safety and convenience, particularly in places where tire repair facilities may be remote from the driver's position. As manufacturers respond to consumer demand for safer, more durable tires, run-flat summer tires are increasingly being used in luxury, sports, and high-performance cars. This trend is projected to continue as more people seek tires that provide convenience and peace of mind while maintaining performance.
- Focus on Performance and Safety Features: The summer tire market is trending toward enhanced performance features that improve safety and comfort. As consumers place a higher value on performance and safety, summer tires are being created to provide better grip on dry and wet roads, shorter braking distances, and improved handling in harsh circumstances. Manufacturers are investing in developments like as asymmetrical tread patterns, which improve cornering stability, and silica-based compounds, which increase wet traction and fuel efficiency. The continual development of tires that mix high-performance traits with safety measures is a major industry trend.
- Focus on Developing in Smart Tires: The integration of digital technology, such as tire pressure monitoring systems (TPMS) and sensors that offer real-time data on tire performance, is becoming increasingly popular in the summer tire market. These "smart" tires can interact with a vehicle's onboard system, allowing drivers to check tire pressure, temperature, and general condition. The use of integrated sensors in tires helps to prevent under-inflation, which can affect tire performance and fuel efficiency. Smart tire use is projected to increase as car technology advances and consumers demand greater control over their driving experience.
- Rising Preference for Eco-Friendly and Sustainable Tires: With a rising global emphasis on sustainability and environmental issues, manufacturers have a potential to offer eco-friendly summer tires. Consumers are becoming more concerned about the environmental impact of their purchases, such as tire waste and the carbon footprint of tire manufacturing. The need for tires with lower rolling resistance (which contributes to improved fuel economy and fewer CO2 emissions) is growing. Tire producers should capitalize on this opportunity by producing and promoting sustainable, energy-efficient summer tires manufactured from eco-friendly materials.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Summer Tire Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Summer Tire Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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
- 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.
Frequently Asked Questions
The Summer Tire Market is estimated to witness a CAGR of 4.8% from 2023 to 2031
The major factors driving the Summer Tire Market are: Increasing global passenger cars sale with rapid investment in the automotive sector drives the market growth.
The flactuating raw material pricing require to manufacture the summer tires hinders the market growth.
The major players in the market includes Bridgestone Corporation, Kenda Tire, Maxxis International, Michelin, Sedona Tire and Wheel, The Goodyear Tire and Rubber Company, Titan International, Inc., China National Tire and Rubber Corporation, Sumitomoto Rubber Industries Inc, Pirelli and C S p A, Continental AG, Yokohoma Rubber Company, Madras Tire Factory, and Others
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Summer Tires Market - By Vehicle Type
1.3.2 Summer Tires Market - By Tire Type
1.3.3 Summer Tires Market - By Rim Size
1.3.4 Summer Tires Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SUMMER TIRES 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. SUMMER TIRES 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. SUMMER TIRES MARKET - GLOBAL MARKET ANALYSIS
6.1. SUMMER TIRES - GLOBAL MARKET OVERVIEW
6.2. SUMMER TIRES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SUMMER TIRES MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
7.1. OVERVIEW
7.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
7.3. PASSENGER VEHICLE
7.3.1. Overview
7.3.2. Passenger Vehicle Market Forecast and Analysis
7.4. LIGHT COMMERCIAL VEHICLE
7.4.1. Overview
7.4.2. Light Commercial Vehicle Market Forecast and Analysis
7.5. HEAVY COMMERCIAL VEHICLE
7.5.1. Overview
7.5.2. Heavy Commercial Vehicle Market Forecast and Analysis
8. SUMMER TIRES MARKET - REVENUE AND FORECASTS TO 2028 - TIRE TYPE
8.1. OVERVIEW
8.2. TIRE TYPE MARKET FORECASTS AND ANALYSIS
8.3. RADIAL
8.3.1. Overview
8.3.2. Radial Market Forecast and Analysis
8.4. BIAS
8.4.1. Overview
8.4.2. Bias Market Forecast and Analysis
9. SUMMER TIRES MARKET - REVENUE AND FORECASTS TO 2028 - RIM SIZE
9.1. OVERVIEW
9.2. RIM SIZE MARKET FORECASTS AND ANALYSIS
9.3. 15''
9.3.1. Overview
9.3.2. 15'' Market Forecast and Analysis
9.4. 16''- 19''
9.4.1. Overview
9.4.2. 16''- 19'' Market Forecast and Analysis
9.5. 20'' AND ABOVE
9.5.1. Overview
9.5.2. 20'' and above Market Forecast and Analysis
10. SUMMER TIRES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Summer Tires Market Overview
10.1.2 North America Summer Tires Market Forecasts and Analysis
10.1.3 North America Summer Tires Market Forecasts and Analysis - By Vehicle Type
10.1.4 North America Summer Tires Market Forecasts and Analysis - By Tire Type
10.1.5 North America Summer Tires Market Forecasts and Analysis - By Rim Size
10.1.6 North America Summer Tires Market Forecasts and Analysis - By Countries
10.1.6.1 United States Summer Tires Market
10.1.6.1.1 United States Summer Tires Market by Vehicle Type
10.1.6.1.2 United States Summer Tires Market by Tire Type
10.1.6.1.3 United States Summer Tires Market by Rim Size
10.1.6.2 Canada Summer Tires Market
10.1.6.2.1 Canada Summer Tires Market by Vehicle Type
10.1.6.2.2 Canada Summer Tires Market by Tire Type
10.1.6.2.3 Canada Summer Tires Market by Rim Size
10.1.6.3 Mexico Summer Tires Market
10.1.6.3.1 Mexico Summer Tires Market by Vehicle Type
10.1.6.3.2 Mexico Summer Tires Market by Tire Type
10.1.6.3.3 Mexico Summer Tires Market by Rim Size
10.2. EUROPE
10.2.1 Europe Summer Tires Market Overview
10.2.2 Europe Summer Tires Market Forecasts and Analysis
10.2.3 Europe Summer Tires Market Forecasts and Analysis - By Vehicle Type
10.2.4 Europe Summer Tires Market Forecasts and Analysis - By Tire Type
10.2.5 Europe Summer Tires Market Forecasts and Analysis - By Rim Size
10.2.6 Europe Summer Tires Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Summer Tires Market
10.2.6.1.1 Germany Summer Tires Market by Vehicle Type
10.2.6.1.2 Germany Summer Tires Market by Tire Type
10.2.6.1.3 Germany Summer Tires Market by Rim Size
10.2.6.2 France Summer Tires Market
10.2.6.2.1 France Summer Tires Market by Vehicle Type
10.2.6.2.2 France Summer Tires Market by Tire Type
10.2.6.2.3 France Summer Tires Market by Rim Size
10.2.6.3 Italy Summer Tires Market
10.2.6.3.1 Italy Summer Tires Market by Vehicle Type
10.2.6.3.2 Italy Summer Tires Market by Tire Type
10.2.6.3.3 Italy Summer Tires Market by Rim Size
10.2.6.4 United Kingdom Summer Tires Market
10.2.6.4.1 United Kingdom Summer Tires Market by Vehicle Type
10.2.6.4.2 United Kingdom Summer Tires Market by Tire Type
10.2.6.4.3 United Kingdom Summer Tires Market by Rim Size
10.2.6.5 Russia Summer Tires Market
10.2.6.5.1 Russia Summer Tires Market by Vehicle Type
10.2.6.5.2 Russia Summer Tires Market by Tire Type
10.2.6.5.3 Russia Summer Tires Market by Rim Size
10.2.6.6 Rest of Europe Summer Tires Market
10.2.6.6.1 Rest of Europe Summer Tires Market by Vehicle Type
10.2.6.6.2 Rest of Europe Summer Tires Market by Tire Type
10.2.6.6.3 Rest of Europe Summer Tires Market by Rim Size
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Summer Tires Market Overview
10.3.2 Asia-Pacific Summer Tires Market Forecasts and Analysis
10.3.3 Asia-Pacific Summer Tires Market Forecasts and Analysis - By Vehicle Type
10.3.4 Asia-Pacific Summer Tires Market Forecasts and Analysis - By Tire Type
10.3.5 Asia-Pacific Summer Tires Market Forecasts and Analysis - By Rim Size
10.3.6 Asia-Pacific Summer Tires Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Summer Tires Market
10.3.6.1.1 Australia Summer Tires Market by Vehicle Type
10.3.6.1.2 Australia Summer Tires Market by Tire Type
10.3.6.1.3 Australia Summer Tires Market by Rim Size
10.3.6.2 China Summer Tires Market
10.3.6.2.1 China Summer Tires Market by Vehicle Type
10.3.6.2.2 China Summer Tires Market by Tire Type
10.3.6.2.3 China Summer Tires Market by Rim Size
10.3.6.3 India Summer Tires Market
10.3.6.3.1 India Summer Tires Market by Vehicle Type
10.3.6.3.2 India Summer Tires Market by Tire Type
10.3.6.3.3 India Summer Tires Market by Rim Size
10.3.6.4 Japan Summer Tires Market
10.3.6.4.1 Japan Summer Tires Market by Vehicle Type
10.3.6.4.2 Japan Summer Tires Market by Tire Type
10.3.6.4.3 Japan Summer Tires Market by Rim Size
10.3.6.5 South Korea Summer Tires Market
10.3.6.5.1 South Korea Summer Tires Market by Vehicle Type
10.3.6.5.2 South Korea Summer Tires Market by Tire Type
10.3.6.5.3 South Korea Summer Tires Market by Rim Size
10.3.6.6 Rest of Asia-Pacific Summer Tires Market
10.3.6.6.1 Rest of Asia-Pacific Summer Tires Market by Vehicle Type
10.3.6.6.2 Rest of Asia-Pacific Summer Tires Market by Tire Type
10.3.6.6.3 Rest of Asia-Pacific Summer Tires Market by Rim Size
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Summer Tires Market Overview
10.4.2 Middle East and Africa Summer Tires Market Forecasts and Analysis
10.4.3 Middle East and Africa Summer Tires Market Forecasts and Analysis - By Vehicle Type
10.4.4 Middle East and Africa Summer Tires Market Forecasts and Analysis - By Tire Type
10.4.5 Middle East and Africa Summer Tires Market Forecasts and Analysis - By Rim Size
10.4.6 Middle East and Africa Summer Tires Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Summer Tires Market
10.4.6.1.1 South Africa Summer Tires Market by Vehicle Type
10.4.6.1.2 South Africa Summer Tires Market by Tire Type
10.4.6.1.3 South Africa Summer Tires Market by Rim Size
10.4.6.2 Saudi Arabia Summer Tires Market
10.4.6.2.1 Saudi Arabia Summer Tires Market by Vehicle Type
10.4.6.2.2 Saudi Arabia Summer Tires Market by Tire Type
10.4.6.2.3 Saudi Arabia Summer Tires Market by Rim Size
10.4.6.3 U.A.E Summer Tires Market
10.4.6.3.1 U.A.E Summer Tires Market by Vehicle Type
10.4.6.3.2 U.A.E Summer Tires Market by Tire Type
10.4.6.3.3 U.A.E Summer Tires Market by Rim Size
10.4.6.4 Rest of Middle East and Africa Summer Tires Market
10.4.6.4.1 Rest of Middle East and Africa Summer Tires Market by Vehicle Type
10.4.6.4.2 Rest of Middle East and Africa Summer Tires Market by Tire Type
10.4.6.4.3 Rest of Middle East and Africa Summer Tires Market by Rim Size
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Summer Tires Market Overview
10.5.2 South and Central America Summer Tires Market Forecasts and Analysis
10.5.3 South and Central America Summer Tires Market Forecasts and Analysis - By Vehicle Type
10.5.4 South and Central America Summer Tires Market Forecasts and Analysis - By Tire Type
10.5.5 South and Central America Summer Tires Market Forecasts and Analysis - By Rim Size
10.5.6 South and Central America Summer Tires Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Summer Tires Market
10.5.6.1.1 Brazil Summer Tires Market by Vehicle Type
10.5.6.1.2 Brazil Summer Tires Market by Tire Type
10.5.6.1.3 Brazil Summer Tires Market by Rim Size
10.5.6.2 Argentina Summer Tires Market
10.5.6.2.1 Argentina Summer Tires Market by Vehicle Type
10.5.6.2.2 Argentina Summer Tires Market by Tire Type
10.5.6.2.3 Argentina Summer Tires Market by Rim Size
10.5.6.3 Rest of South and Central America Summer Tires Market
10.5.6.3.1 Rest of South and Central America Summer Tires Market by Vehicle Type
10.5.6.3.2 Rest of South and Central America Summer Tires Market by Tire Type
10.5.6.3.3 Rest of South and Central America Summer Tires Market by Rim Size
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. SUMMER TIRES MARKET, KEY COMPANY PROFILES
12.1. MICHELIN
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. THE GOODYEAR TIRE AND RUBBER COMPANY
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. CHINA NATIONAL TIRE AND RUBBER CORPORATION
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. SUMITOMOTO RUBBER INDUSTRIES INC.
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. PIRELLI AND C. S.P.A.
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. CONTINENTAL AG
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. BRIDGESTONE CORPORATION
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. YOKOHOMA RUBBER COMPANY
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. MADRAS TIRE FACTORY
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. HANKOOK TIRE AND TECHNOLOGY GROUP
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.MICHELIN
2.The Goodyear Tire and Rubber Company
3.China National Tire and Rubber Corporation
4.Sumitomoto Rubber Industries Inc.
5.Pirelli and C. S.p.A.
6.Continental AG
7.Bridgestone Corporation
8.Yokohoma Rubber Company
9.Madras Tire Factory
10.Hankook Tire and Technology group
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