US Nitrogen Generator Market Trends and Growth (2021-2031)
The US nitrogen generator market size is expected to reach US$ 2.71 billion by 2031 from US$ 1.83 billion in 2023. The market is estimated to record a CAGR of 5.1% during 2023–2031. Emphasis on on-site nitrogen generation is likely to bring a new set of key trends in the market in the coming years.
US Nitrogen Generator Market Analysis
The flourishment of the food and beverages, and pharmaceuticals industries fuels the growth of the US nitrogen generator market. Further, the ongoing surge in import and export activities across these industries would propel the need for nitrogen to maintain the proper environment for extending the shelf life of products and perishable goods during trade and storage. The rising number of remote oil & gas and mining plants, and ongoing industrialization efforts also act as a major driver for the market growth. Nitrogen is used for sample preparation in chemical analyses. Additionally, it is used to concentrate and decrease the volume of liquid chemical samples. Nitrogen is also used in the production of fertilizers, nitric acid, nylon, dyes, and explosives. Investments in the electronics and transportation sectors are substantially increasing in the US, which benefits the nitrogen generator market growth in the US.
US Nitrogen Generator Market Overview
Industries such as food and beverages, pharmaceuticals, chemicals, electronics, oil and gas, utilities, transportation, marine, mining, and manufacturing contribute significantly to the development of the US nitrogen generator market. Nitrogen finds notable applications in the creation of controlled conditions through inerting, blanketing, and purging. It is also used in sterile packaging (food, beverage, medicines, etc.), tire air pressure maintenance, laser cutting, and laboratory applications, among others.
The use of on-site nitrogen generators primarily lowers the cost per unit of nitrogen, and saves space as there is no requirement to store bulky nitrogen containers. It also helps in the continuous supply of nitrogen and reduces overall operating costs. Nitrogen serves as a stable, inert inflation gas while also reducing the introduction of moisture from the tire cavity. The gas is also treated as an essential part of aircraft maintenance, operation, and turnaround. Many regulatory authorities demand the application of nitrogen gas while inflating aircraft wheels. In addition to mechanical advantages, it proves beneficial in reducing oxidative damage to the rubber wheels. Nitrogen gas also helps eliminate any fire or explosion, wheel corrosion, or fatigue initiated by brake heat transfer. Thus, the growing application of nitrogen in the aerospace sector is anticipated to create growth opportunities to the US nitrogen generator market over the forecast period
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US Nitrogen Generator Market: Strategic Insights
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US Nitrogen Generator Market Drivers and Opportunities
Significance of Nitrogen in Food and Beverage, and Automotive Industries Bolsters Market Growth
Nitrogen generators are installed on-site to produce gas and immediately supply it to extinguish fires as well as prevent fire explosions by creating an inert atmosphere. In automotive applications, nitrogen-driven tires outperform conventional air-filled tires in terms of performance and safety. The resistance of nitrogen to temperature-induced pressure variations decreases the chance of tire blowouts, contributing to road and aircraft safety. In the food and beverage industry, nitrogen is predominantly applied for preservation, packaging, and quality enhancement. It replaces oxygen in packaging and substantially extends the shelf life of delicate items by slowing down bacterial growth and oxidation. It also helps keep the texture and flavor of food and beverages intact by reducing the amount of oxygen present in food packaging, which can inhibit oxidation and preserve the freshness of the product. Its inert properties make it suitable for maintaining a controlled atmosphere in food processing and storage. Thus, the significance of nitrogen in industries such as food and beverage, automotive, among others propels the US nitrogen generator market.
Utilization of Nitrogen Inert Gas in Maritime Industry to Create Significant Market Opportunities
Nitrogen generators such as membrane nitrogen generators or pressure swing adsorption (PSA) generators are installed on ships to generate high-purity nitrogen gas from the surrounding air. The produced nitrogen is then directed into the cargo tanks to decrease the oxygen levels and establish an inert atmosphere. Protecting cargo from accidents such as explosions and fire breaks is one of the main concerns of logistics managers while transporting clean products, crude oil, and liquefied gases by tankers. The safety of transportation via tankers is also crucial for ensuring the well-being of many coastal nations and environmental protection associations. Subsequently, vessels involved in the transportation of crude oil, clean products, and gases are subjected to strict building standards to prioritize both safe transportation and environmental protection. Since 1974, the Safety of Life at Sea (SOLAS) regulations mandate that all oil and gas transportation vessels must comprise inert gas generation systems capable of producing inert gases to keep oxygen content less than ~5% by volume inside the vessel. All vessels surpassing deadweight tonnage of 8,000 are mandatory to have inerting systems. Moreover, the pressure inside the tanks must be higher than the surrounding atmospheric pressure while confirming that the air inside the tank contains no more than ~8% oxygen by volume. Vessels transporting oil, clean products, and liquefied gases use nitrogen inerting systems, which produce high-purity nitrogen through nitrogen generators. Thus, the growing usage of nitrogen in the marine sector is anticipated to generate significant opportunities in the US nitrogen generator market during the forecast period.
US Nitrogen Generator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the US Nitrogen Generator market analysis are type and end user.
- Based on type, the market is segmented into membrane nitrogen generators, PSA nitrogen generators, and cryogenic nitrogen generators. The PSA nitrogen generator segment held the largest US nitrogen generator market share in 2023.
- Based on end user, the market is segmented into oil and gas, food and beverage, medical and pharmaceuticals, transportation, chemicals, and others. The food and beverage segment held largest US nitrogen generator market share in 2023.
US Nitrogen Generator Market Share Analysis by Geography
The US nitrogen generator market is segmented into four major regions: Northeast, Midwest, South, and West. South region dominated the market in 2023, followed by Midwest and West. The food and beverage segment accounted for the largest share of 31.2% of the market in the Northeast region in 2023, followed by chemicals, and medical and pharmaceuticals industries, respectively. The surging demand for canned and processed food products, and frozen meat and vegetables among consumers results in the need for cold storage facilities in this region, which require nitrogen gas for maintaining optimum storage conditions. The United States-Mexico-Canada Agreement (USMCA) in 2018 replaced the North American Free Trade Agreement (NAFTA), which was brought into effect in 1994. The implementation of the USMCA has increased the ratio of trade dealings among these nations. The burgeoning import and export of food, beverages, and pharmaceutical products also drives the demand for nitrogen generators in the Northeast. On Site Gas Systems and Air & Gas Solutions LLC are a few of the prime companies operating in the Northeast part of the US.
US Nitrogen Generator Market Report Scope
US Nitrogen Generator Market News and Recent Developments
The US nitrogen generator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the US nitrogen generator market are listed below:
- PEAK Scientific announced a strategic partnership with Onelab, a premier distributor of laboratory equipment, as the exclusive distributor of PEAK Scientific products across New Zealand. This collaboration aims to enhance accessibility to PEAK Scientific’s cutting-edge gas generation solutions, catering to the evolving needs of scientific research and analysis in the region. (Source: PEAK Scientific, Press Release, February 2024)
- Ingersoll Rand Inc. announced the acquisition of Air Power Systems Co., LLC (APSCO), Blutek s.r.l. (Blutek), and UT Pumps & Systems Private Limited (UT Pumps) for a combined purchase price of approximately US$ 135 million. Blutek, based in Italy, specializes in the design and production of highly engineered solutions for compressed air and nitrogen generation in mission-critical environments. It will increase Ingersoll Rand’s ability to compete in high-specification projects, adding technology capabilities, expertise, and aftermarket potential in high-growth end markets, including biogas and carbon capture. (Source: Ingersoll Rand Inc., Press Release, October 2024)
US Nitrogen Generator Market Report Coverage and Deliverables
The "US Nitrogen Generator Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- US nitrogen generator market size and forecast at regional and country levels for all the key market segments covered under the scope
- US nitrogen generator market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- US nitrogen generator market analysis covering key market trends, regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the US nitrogen generator market
- Detailed company profiles
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 key players holding majority shares in the US nitrogen generator market are Advanced Gas Technologies; BAUER COMPRESSORS, INC.; On Site Gas Systems Inc.; Atlas Copco AB; Parker Hannifin; Holtec Gas Systems; VICI DBS; Peak Scientific Instruments Ltd; Air & Gas Solutions LLC; and Ingersoll Rand Inc.
The US nitrogen generator market is expected to reach US$ 2.71 billion by 2031.
The US nitrogen generator market was estimated to be US$ 1.83 billion in 2023 and is expected to grow at a CAGR of 5.1% during the forecast period 2023 - 2031.
Significance of nitrogen in food and beverage, and automotive industries, surge in trade of food and pharmaceutical products, and adoption of nitrogen generators in electronic industry are the major factors that propel the US nitrogen generator market.
The incremental growth expected to be recorded for the US nitrogen generator market during the forecast period is US$ 0.88 billion.
Emphasis on on-site nitrogen generation is anticipated to play a significant role in the US nitrogen generator market in the coming years.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. US Nitrogen Generator Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. US Nitrogen Generator Market – Key Market Dynamics
5.1 US Nitrogen Generator Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Significance of Nitrogen in Food and Beverage, and Automotive Industries
5.2.2 Surge in Trade of Food and Pharmaceutical Products
5.2.3 Adoption of Nitrogen Generators in Electronic Industry
5.3 Market Restraints
5.3.1 Required Stringent Safety and Regulatory Measures:
5.4 Market Opportunities
5.4.1 Utilization of Nitrogen Inert Gas in Maritime Industry
5.4.2 Role of Nitrogen Generators in Chemical Industry:
5.5 Future Trends
5.5.1 Emphasis on On-site Nitrogen Generation
5.6 Impact of Drivers and Restraints:
6. US Nitrogen Generator Market Analysis
6.1 US Nitrogen Generator Market Revenue (US$ Million), 2021–2031
6.2 US Nitrogen Generator Market Forecast and Analysis
6.3 US Nitrogen Generator Market Volume Forecast and Analysis
7. US Nitrogen Generator Market Analysis – by Type
7.1 PSA Nitrogen Generator
7.1.1 Overview
7.1.2 PSA nitrogen Generator: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Membrane Nitrogen Generator
7.2.1 Overview
7.2.2 Membrane Nitrogen Generator: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Cryogenic Nitrogen Generator
7.3.1 Overview
7.3.2 Cryogenic Nitrogen Generator: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
8. US Nitrogen Generator Market Analysis – by End User
8.1 Oil and Gas
8.1.1 Overview
8.1.2 Oil and Gas: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Food and Beverage
8.2.1 Overview
8.2.2 Food and Beverage: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Medical and Pharmaceutical
8.3.1 Overview
8.3.2 Medical and Pharmaceutical: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Transportation
8.4.1 Overview
8.4.2 Transportation: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Chemicals
8.5.1 Overview
8.5.2 Chemicals: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
9. US Nitrogen Generator Market – Region Analysis
9.1 US
9.1.1 US Nitrogen Generator Market Breakdown by Regions
9.1.1.1 US Nitrogen Generator Market Revenue and Forecast and Analysis – by Regions
9.1.1.2 Northeast: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 Northeast: US Nitrogen Generator Market Breakdown by Type
9.1.1.2.2 Northeast: US Nitrogen Generator Market Breakdown by End User
9.1.1.3 West: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 West: US Nitrogen Generator Market Breakdown by Type
9.1.1.3.2 West: US Nitrogen Generator Market Breakdown by End User
9.1.1.4 Midwest: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 Midwest: US nitrogen Generator Market Breakdown by Type
9.1.1.4.2 Midwest: US Nitrogen Generator Market Breakdown by End User
9.1.1.5 South: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 South: US Nitrogen Generator Market Breakdown by Type
9.1.1.5.2 South: US Nitrogen Generator Market Breakdown by End User
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Advanced Gas Technologies
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 BAUER COMPRESSORS, 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 On Site Gas Systems
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
THREAT
12.3.6 Key Developments
12.4 Atlas Copco AB
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 Parker Hannifin
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 Key Developments
12.6 Holtec Gas Systems
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 VICI DBS
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 Peak Scientific Instruments Ltd
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 Air & Gas Solutions LLC
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 Ingersoll Rand Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 Appendix
13.2 About The Insight Partners
List of Tables
Table 1. US Nitrogen Generator Market Segmentation
Table 2. List of Vendors
Table 3. Major US Food Imports
Table 4. US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Table 5. US Nitrogen Generator Market – Volume and Forecast to 2031 (Units)
Table 6. US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 7. US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 8. US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by Regions
Table 9. Northeast: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 10. Northeast: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 11. West: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 12. West: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 13. Midwest: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Midwest: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 15. South: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 16. South: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million) – by End User
List of Figures
Figure 1. US Nitrogen Generator Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. Major US Agricultural Exports (US$ million)
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. US Nitrogen Generator Market Revenue (US$ Million), 2021–2031
Figure 7. US Nitrogen Generator Market Share (%) – by Type, 2023 and 2031
Figure 8. PSA Nitrogen Generator: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Membrane Nitrogen Generator: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Cryogenic Nitrogen Generator: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. US Nitrogen Generator Market Share (%) – by End User, 2023 and 2031
Figure 12. Oil and Gas: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Food and Beverage: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Medical and Pharmaceutical: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Transportation: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Chemicals: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Others: US nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Northeast: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. West: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Midwest: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. South: US Nitrogen Generator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Heat Map Analysis by Key Players
Figure 23. Company Positioning & Concentration
The List of Companies - US Nitrogen Generator Market
- Advanced Gas Technologies
- BAUER COMPRESSORS, INC.
- On Site Gas Systems Inc.
- Atlas Copco AB
- Parker Hannifin
- Holtec Gas Systems
- VICI DBS
- Peak Scientific Instruments Ltd
- Air & Gas Solutions LLC
- Ingersoll Rand Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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