Thermal Spray Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The thermal spraying technique is a coating process in which melted materials are sprayed onto a surface. The "feedstock" is heated by electrical or chemical means. Thermal spraying is a technology that improves or restores the surface of a solid material. The process can be used to apply coatings to a wide range of materials and components to provide resistance to wear, erosion, cavitation, corrosion, abrasion, or heat.
MARKET DYNAMICS
The thermal spray market has witnessed a significant growth owing to factors such as growth of chemical industry. Moreover, the rising demand from the aerospace and medical devices industries, increasing usage of thermal spray ceramic coatings, and replacement of hard chrome coatings by thermal spray coatings provides a huge market opportunity for the key players operating in the thermal spray market. However, with the development and emergence of hard trivalent chrome coatings in recent years, is projected to hamper the overall growth of the thermal spray market.
MARKET SCOPE
The "Global Thermal Spray Market Analysis to 2028" 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 thermal spray market with detailed market segmentation product type, thermal spray coatings and finishes, end user, and geography. The global thermal spray market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading thermal spray market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global thermal spray market is segmented on the basis of product type, thermal spray coatings and finishes and end user. On the basis of product type, the global thermal spray market is divided coatings, material and thermal spray equipment. On the basis of thermal sspray coatings and finishes, the global thermal spray market is divided combustion and electric energy. On the basis of end user, the market is divided into aerospace, industrial gas turbines, automotive, electronics, oil and gas, medical devices, energy and power, and other end-user industries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global thermal spray market based on various segments. It also provides marketsize and forecast estimates from the year 2020to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The thermal spray 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 thermal spray market from both demand and supply side and further evaluates market dynamics affecting the marketduring 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 thermal spray 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 global thermal spray market based on various segments. It also provides marketsize and forecast estimates from the year 2020to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The thermal spray 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 thermal spray market from both demand and supply side and further evaluates market dynamics affecting the marketduring 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 thermal spray market in these regions.
MARKET PLAYERS
The reports cover key developments in the thermal spray 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 marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of marketplayers. The marketpayers from thermal spray market is anticipated to lucrative growth opportunities in the future with the rising demand for thermal spray in the global market. Below mentioned is the list of few companies engaged in the thermal spray market.
The report also includes the profiles of key companies along with their SWOT analysis and marketstrategies in the thermal spray 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.
- 3M
- A&A Thermal Spray Coatings, Inc.
- Bodycote PLC
- Chromalloy Gas Turbine LLC
- Fisher Barton Group
- HC Starck GmbH
- Hoganas AB
- Kennametal Inc.
- Linde (Praxair Technology Inc.),
- Oerlikon
The Insight Partner dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
This text is related
to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
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
1.3.1Thermal Spray Market - By Product Type
1.3.2Thermal Spray Market - By Thermal Spray Coatings and Finishes
1.3.3Thermal Spray Market - By End User
1.3.4Thermal Spray Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.THERMAL SPRAY 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.EXPERT OPINIONS
5.THERMAL SPRAY 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.THERMAL SPRAY MARKET - GLOBAL MARKET ANALYSIS
6.1.THERMAL SPRAY - GLOBAL MARKET OVERVIEW
6.2.THERMAL SPRAY - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.THERMAL SPRAY MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3.COATINGS
7.3.1.Overview
7.3.2.Coatings Market Forecast and Analysis
7.4.MATERIAL
7.4.1.Overview
7.4.2.Material Market Forecast and Analysis
7.5.THERMAL SPRAY EQUIPMENT
7.5.1.Overview
7.5.2.Thermal Spray Equipment Market Forecast and Analysis
8.THERMAL SPRAY MARKET - REVENUE AND FORECASTS TO 2028 " THERMAL SPRAY COATINGS AND FINISHES
8.1.OVERVIEW
8.2.THERMAL SPRAY COATINGS AND FINISHES MARKET FORECASTS AND ANALYSIS
8.3.COMBUSTION
8.3.1.Overview
8.3.2.Combustion Market Forecast and Analysis
8.4.ELECTRIC ENERGY
8.4.1.Overview
8.4.2.Electric Energy Market Forecast and Analysis
9.THERMAL SPRAY MARKET - REVENUE AND FORECASTS TO 2028 " END USER
9.1.OVERVIEW
9.2.END USER MARKET FORECASTS AND ANALYSIS
9.3.AEROSPACE
9.3.1.Overview
9.3.2.Aerospace Market Forecast and Analysis
9.4.INDUSTRIAL GAS TURBINES
9.4.1.Overview
9.4.2.Industrial Gas Turbines Market Forecast and Analysis
9.5.AUTOMOTIVE
9.5.1.Overview
9.5.2.Automotive Market Forecast and Analysis
9.6.ELECTRONICS
9.6.1.Overview
9.6.2.Electronics Market Forecast and Analysis
9.7.OIL AND GAS
9.7.1.Overview
9.7.2.Oil and Gas Market Forecast and Analysis
9.8.MEDICAL DEVICES
9.8.1.Overview
9.8.2.Medical Devices Market Forecast and Analysis
9.9.ENERGY AND POWER
9.9.1.Overview
9.9.2.Energy and Power Market Forecast and Analysis
9.10.OTHER END-USER INDUSTRIES
9.10.1.Overview
9.10.2.Other End-user Industries Market Forecast and Analysis
10.THERMAL SPRAY MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Thermal Spray Market Overview
10.1.2North America Thermal Spray Market Forecasts and Analysis
10.1.3North America Thermal Spray Market Forecasts and Analysis - By Product Type
10.1.4North America Thermal Spray Market Forecasts and Analysis - By Thermal Spray Coatings and Finishes
10.1.5North America Thermal Spray Market Forecasts and Analysis - By End User
10.1.6North America Thermal Spray Market Forecasts and Analysis - By Countries
10.1.6.1United States Thermal Spray Market
10.1.6.1.1United States Thermal Spray Market by Product Type
10.1.6.1.2United States Thermal Spray Market by Thermal Spray Coatings and Finishes
10.1.6.1.3United States Thermal Spray Market by End User
10.1.6.2Canada Thermal Spray Market
10.1.6.2.1Canada Thermal Spray Market by Product Type
10.1.6.2.2Canada Thermal Spray Market by Thermal Spray Coatings and Finishes
10.1.6.2.3Canada Thermal Spray Market by End User
10.1.6.3Mexico Thermal Spray Market
10.1.6.3.1Mexico Thermal Spray Market by Product Type
10.1.6.3.2Mexico Thermal Spray Market by Thermal Spray Coatings and Finishes
10.1.6.3.3Mexico Thermal Spray Market by End User
10.2.EUROPE
10.2.1Europe Thermal Spray Market Overview
10.2.2Europe Thermal Spray Market Forecasts and Analysis
10.2.3Europe Thermal Spray Market Forecasts and Analysis - By Product Type
10.2.4Europe Thermal Spray Market Forecasts and Analysis - By Thermal Spray Coatings and Finishes
10.2.5Europe Thermal Spray Market Forecasts and Analysis - By End User
10.2.6Europe Thermal Spray Market Forecasts and Analysis - By Countries
10.2.6.1Germany Thermal Spray Market
10.2.6.1.1Germany Thermal Spray Market by Product Type
10.2.6.1.2Germany Thermal Spray Market by Thermal Spray Coatings and Finishes
10.2.6.1.3Germany Thermal Spray Market by End User
10.2.6.2France Thermal Spray Market
10.2.6.2.1France Thermal Spray Market by Product Type
10.2.6.2.2France Thermal Spray Market by Thermal Spray Coatings and Finishes
10.2.6.2.3France Thermal Spray Market by End User
10.2.6.3Italy Thermal Spray Market
10.2.6.3.1Italy Thermal Spray Market by Product Type
10.2.6.3.2Italy Thermal Spray Market by Thermal Spray Coatings and Finishes
10.2.6.3.3Italy Thermal Spray Market by End User
10.2.6.4Spain Thermal Spray Market
10.2.6.4.1Spain Thermal Spray Market by Product Type
10.2.6.4.2Spain Thermal Spray Market by Thermal Spray Coatings and Finishes
10.2.6.4.3Spain Thermal Spray Market by End User
10.2.6.5Russia Thermal Spray Market
10.2.6.5.1Russia Thermal Spray Market by Product Type
10.2.6.5.2Russia Thermal Spray Market by Thermal Spray Coatings and Finishes
10.2.6.5.3Russia Thermal Spray Market by End User
10.2.6.6Rest of Europe Thermal Spray Market
10.2.6.6.1Rest of Europe Thermal Spray Market by Product Type
10.2.6.6.2Rest of Europe Thermal Spray Market by Thermal Spray Coatings and Finishes
10.2.6.6.3Rest of Europe Thermal Spray Market by End User
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Thermal Spray Market Overview
10.3.2Asia-Pacific Thermal Spray Market Forecasts and Analysis
10.3.3Asia-Pacific Thermal Spray Market Forecasts and Analysis - By Product Type
10.3.4Asia-Pacific Thermal Spray Market Forecasts and Analysis - By Thermal Spray Coatings and Finishes
10.3.5Asia-Pacific Thermal Spray Market Forecasts and Analysis - By End User
10.3.6Asia-Pacific Thermal Spray Market Forecasts and Analysis - By Countries
10.3.6.1Australia Thermal Spray Market
10.3.6.1.1Australia Thermal Spray Market by Product Type
10.3.6.1.2Australia Thermal Spray Market by Thermal Spray Coatings and Finishes
10.3.6.1.3Australia Thermal Spray Market by End User
10.3.6.2China Thermal Spray Market
10.3.6.2.1China Thermal Spray Market by Product Type
10.3.6.2.2China Thermal Spray Market by Thermal Spray Coatings and Finishes
10.3.6.2.3China Thermal Spray Market by End User
10.3.6.3India Thermal Spray Market
10.3.6.3.1India Thermal Spray Market by Product Type
10.3.6.3.2India Thermal Spray Market by Thermal Spray Coatings and Finishes
10.3.6.3.3India Thermal Spray Market by End User
10.3.6.4Japan Thermal Spray Market
10.3.6.4.1Japan Thermal Spray Market by Product Type
10.3.6.4.2Japan Thermal Spray Market by Thermal Spray Coatings and Finishes
10.3.6.4.3Japan Thermal Spray Market by End User
10.3.6.5South Korea Thermal Spray Market
10.3.6.5.1South Korea Thermal Spray Market by Product Type
10.3.6.5.2South Korea Thermal Spray Market by Thermal Spray Coatings and Finishes
10.3.6.5.3South Korea Thermal Spray Market by End User
10.3.6.6Rest of Asia-Pacific Thermal Spray Market
10.3.6.6.1Rest of Asia-Pacific Thermal Spray Market by Product Type
10.3.6.6.2Rest of Asia-Pacific Thermal Spray Market by Thermal Spray Coatings and Finishes
10.3.6.6.3Rest of Asia-Pacific Thermal Spray Market by End User
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Thermal Spray Market Overview
10.4.2Middle East and Africa Thermal Spray Market Forecasts and Analysis
10.4.3Middle East and Africa Thermal Spray Market Forecasts and Analysis - By Product Type
10.4.4Middle East and Africa Thermal Spray Market Forecasts and Analysis - By Thermal Spray Coatings and Finishes
10.4.5Middle East and Africa Thermal Spray Market Forecasts and Analysis - By End User
10.4.6Middle East and Africa Thermal Spray Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Thermal Spray Market
10.4.6.1.1South Africa Thermal Spray Market by Product Type
10.4.6.1.2South Africa Thermal Spray Market by Thermal Spray Coatings and Finishes
10.4.6.1.3South Africa Thermal Spray Market by End User
10.4.6.2Saudi Arabia Thermal Spray Market
10.4.6.2.1Saudi Arabia Thermal Spray Market by Product Type
10.4.6.2.2Saudi Arabia Thermal Spray Market by Thermal Spray Coatings and Finishes
10.4.6.2.3Saudi Arabia Thermal Spray Market by End User
10.4.6.3U.A.E Thermal Spray Market
10.4.6.3.1U.A.E Thermal Spray Market by Product Type
10.4.6.3.2U.A.E Thermal Spray Market by Thermal Spray Coatings and Finishes
10.4.6.3.3U.A.E Thermal Spray Market by End User
10.4.6.4Rest of Middle East and Africa Thermal Spray Market
10.4.6.4.1Rest of Middle East and Africa Thermal Spray Market by Product Type
10.4.6.4.2Rest of Middle East and Africa Thermal Spray Market by Thermal Spray Coatings and Finishes
10.4.6.4.3Rest of Middle East and Africa Thermal Spray Market by End User
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Thermal Spray Market Overview
10.5.2South and Central America Thermal Spray Market Forecasts and Analysis
10.5.3South and Central America Thermal Spray Market Forecasts and Analysis - By Product Type
10.5.4South and Central America Thermal Spray Market Forecasts and Analysis - By Thermal Spray Coatings and Finishes
10.5.5South and Central America Thermal Spray Market Forecasts and Analysis - By End User
10.5.6South and Central America Thermal Spray Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Thermal Spray Market
10.5.6.1.1Brazil Thermal Spray Market by Product Type
10.5.6.1.2Brazil Thermal Spray Market by Thermal Spray Coatings and Finishes
10.5.6.1.3Brazil Thermal Spray Market by End User
10.5.6.2Argentina Thermal Spray Market
10.5.6.2.1Argentina Thermal Spray Market by Product Type
10.5.6.2.2Argentina Thermal Spray Market by Thermal Spray Coatings and Finishes
10.5.6.2.3Argentina Thermal Spray Market by End User
10.5.6.3Rest of South and Central America Thermal Spray Market
10.5.6.3.1Rest of South and Central America Thermal Spray Market by Product Type
10.5.6.3.2Rest of South and Central America Thermal Spray Market by Thermal Spray Coatings and Finishes
10.5.6.3.3Rest of South and Central America Thermal Spray 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.THERMAL SPRAY MARKET, KEY COMPANY PROFILES
12.1.3M
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.AANDA THERMAL SPRAY COATINGS, 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.BODYCOTE PLC
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.CHROMALLOY GAS TURBINE LLC?
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.FISHER BARTON GROUP
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.HC STARCK GMBH
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.HOGANAS AB
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.KENNAMETAL INC.
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.LINDE (PRAXAIR TECHNOLOGY INC.),
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.OERLIKON
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. 3M
2. AandA Thermal Spray Coatings, Inc.
3. Bodycote PLC
4. Chromalloy Gas Turbine LLC-
5. Fisher Barton Group
6. HC Starck GmbH
7. Hoganas AB
8. Kennametal Inc.
9. Linde (Praxair Technology Inc.),
10. Oerlikon
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.