Utility Boiler Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Boilers are closed vessels that convert fluid into vapour under high pressure through heating. Utility boiler is a device that burns any fuel and produces steam for the primary purpose of generating electricity. Utility boilers are used to cater the need to increasing electricity production around the globe.
MARKET SCOPE
The "Global Utility Boilers Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the Utility Boilers Market with detailed market segmentation by technology, by fuel type, by capacity and by region. The Utility Boilers Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Utility Boilers Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Utility Boilers Market has been segmented by technology, fuel type and by capacity. The technology has been bifurcated into subcritical, supercritical and ultra-supercritical. By fuel type the market has been bifurcated into coal, oil and gas. By capacity the market has been bifurcated into 30-100 MW, 100-250 MW, 250-500 MW and >500 MW.
MARKET DYNAMICS
Growth Factors
Restraints
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 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Utility Boilers 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 Utility Boilers 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 Utility Boilers Market in these regions.
Impact of Covid-19 on Utility Boiler Market
The Covid-19 pandemic affected the global economy severely causing financial damage to each and every sector. The governments and regulatory bodies imposed a host of strict restrictions and mass lockdowns to curb the spread of the disease. The impact of the coronavirus has been felt across the globe, severely impacting businesses, industries, and people throughout the world. Despite these challenges, several boiler maintenance businesses have stayed open, and helped lead the way by issuing statements and protocols on COVID-19 and continuing to find ways to provide their services. COVID-19 adversely impacted the manufactures of boilers globally as the power industry due to the global shutdown and issues in the supply chain. With lower power demand, utilities are expected to make negligible investments in replacing ageing power infrastructure; additionally, major power projects are expected to be halted or delayed. The ease in the restrictions is expected to boost the Utility Boiler Market in the coming years.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Utility Boilers 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 Utility Boilers 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 Utility Boilers Market in these regions.
Impact of Covid-19 on Utility Boiler Market
The Covid-19 pandemic affected the global economy severely causing financial damage to each and every sector. The governments and regulatory bodies imposed a host of strict restrictions and mass lockdowns to curb the spread of the disease. The impact of the coronavirus has been felt across the globe, severely impacting businesses, industries, and people throughout the world. Despite these challenges, several boiler maintenance businesses have stayed open, and helped lead the way by issuing statements and protocols on COVID-19 and continuing to find ways to provide their services. COVID-19 adversely impacted the manufactures of boilers globally as the power industry due to the global shutdown and issues in the supply chain. With lower power demand, utilities are expected to make negligible investments in replacing ageing power infrastructure; additionally, major power projects are expected to be halted or delayed. The ease in the restrictions is expected to boost the Utility Boiler Market in the coming years.
MARKET PLAYERS
The report covers vital developments in the Utility Boilers 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 Utility Boilers Market are anticipated to have lucrative growth opportunities in the future with the rising demand for Utility Boilers Market. Below mentioned is the list of a few companies engaged in the Utility Boilers Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Utility Boilers 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.
- Bharat Heavy Electricals Limited
- Thermax
- Babcock and Wilcox
- IHI
- Mitsubishi Hitachi Power Systems
- General Electric Company
- Larson & Toubro Limited
- Doosan Heavy Industries
- Siemens
- AMEC Foster Wheeler
- 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
1.3.1Utility Boiler Market - By Technology
1.3.2Utility Boiler Market - By Fuel Type
1.3.3Utility Boiler Market - By Capacity
1.3.4Utility Boiler Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.UTILITY 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.EXPERT OPINIONS
5.UTILITY 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.UTILITY BOILER MARKET - GLOBAL MARKET ANALYSIS
6.1.UTILITY BOILER - GLOBAL MARKET OVERVIEW
6.2.UTILITY BOILER - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.UTILITY BOILER MARKET - REVENUE AND FORECASTS TO 2028 " TECHNOLOGY
7.1.OVERVIEW
7.2.TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3.SUBCRITICAL
7.3.1.Overview
7.3.2.Subcritical Market Forecast and Analysis
7.4.SUPERCRITICAL
7.4.1.Overview
7.4.2.Supercritical Market Forecast and Analysis
7.5.ULTRA-SUPERCRITICAL
7.5.1.Overview
7.5.2.Ultra-Supercritical Market Forecast and Analysis
8.UTILITY BOILER MARKET - REVENUE AND FORECASTS TO 2028 " FUEL TYPE
8.1.OVERVIEW
8.2.FUEL TYPE MARKET FORECASTS AND ANALYSIS
8.3.COAL
8.3.1.Overview
8.3.2.Coal Market Forecast and Analysis
8.4.OIL
8.4.1.Overview
8.4.2.Oil Market Forecast and Analysis
8.5.GAS
8.5.1.Overview
8.5.2.Gas Market Forecast and Analysis
9.UTILITY BOILER MARKET - REVENUE AND FORECASTS TO 2028 " CAPACITY
9.1.OVERVIEW
9.2.CAPACITY MARKET FORECASTS AND ANALYSIS
9.3.30-100 MW
9.3.1.Overview
9.3.2.30-100 MW Market Forecast and Analysis
9.4.100-250 MW
9.4.1.Overview
9.4.2.100-250 MW Market Forecast and Analysis
9.5.250-500 MW
9.5.1.Overview
9.5.2.250-500 MW Market Forecast and Analysis
9.6.>500 MW
9.6.1.Overview
9.6.2.>500 MW Market Forecast and Analysis
10.UTILITY BOILER MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Utility Boiler Market Overview
10.1.2North America Utility Boiler Market Forecasts and Analysis
10.1.3North America Utility Boiler Market Forecasts and Analysis - By Technology
10.1.4North America Utility Boiler Market Forecasts and Analysis - By Fuel Type
10.1.5North America Utility Boiler Market Forecasts and Analysis - By Capacity
10.1.6North America Utility Boiler Market Forecasts and Analysis - By Countries
10.1.6.1United States Utility Boiler Market
10.1.6.1.1United States Utility Boiler Market by Technology
10.1.6.1.2United States Utility Boiler Market by Fuel Type
10.1.6.1.3United States Utility Boiler Market by Capacity
10.1.6.2Canada Utility Boiler Market
10.1.6.2.1Canada Utility Boiler Market by Technology
10.1.6.2.2Canada Utility Boiler Market by Fuel Type
10.1.6.2.3Canada Utility Boiler Market by Capacity
10.1.6.3Mexico Utility Boiler Market
10.1.6.3.1Mexico Utility Boiler Market by Technology
10.1.6.3.2Mexico Utility Boiler Market by Fuel Type
10.1.6.3.3Mexico Utility Boiler Market by Capacity
10.2.EUROPE
10.2.1Europe Utility Boiler Market Overview
10.2.2Europe Utility Boiler Market Forecasts and Analysis
10.2.3Europe Utility Boiler Market Forecasts and Analysis - By Technology
10.2.4Europe Utility Boiler Market Forecasts and Analysis - By Fuel Type
10.2.5Europe Utility Boiler Market Forecasts and Analysis - By Capacity
10.2.6Europe Utility Boiler Market Forecasts and Analysis - By Countries
10.2.6.1Germany Utility Boiler Market
10.2.6.1.1Germany Utility Boiler Market by Technology
10.2.6.1.2Germany Utility Boiler Market by Fuel Type
10.2.6.1.3Germany Utility Boiler Market by Capacity
10.2.6.2France Utility Boiler Market
10.2.6.2.1France Utility Boiler Market by Technology
10.2.6.2.2France Utility Boiler Market by Fuel Type
10.2.6.2.3France Utility Boiler Market by Capacity
10.2.6.3Italy Utility Boiler Market
10.2.6.3.1Italy Utility Boiler Market by Technology
10.2.6.3.2Italy Utility Boiler Market by Fuel Type
10.2.6.3.3Italy Utility Boiler Market by Capacity
10.2.6.4Spain Utility Boiler Market
10.2.6.4.1Spain Utility Boiler Market by Technology
10.2.6.4.2Spain Utility Boiler Market by Fuel Type
10.2.6.4.3Spain Utility Boiler Market by Capacity
10.2.6.5United Kingdom Utility Boiler Market
10.2.6.5.1United Kingdom Utility Boiler Market by Technology
10.2.6.5.2United Kingdom Utility Boiler Market by Fuel Type
10.2.6.5.3United Kingdom Utility Boiler Market by Capacity
10.2.6.6Russia Utility Boiler Market
10.2.6.6.1Russia Utility Boiler Market by Technology
10.2.6.6.2Russia Utility Boiler Market by Fuel Type
10.2.6.6.3Russia Utility Boiler Market by Capacity
10.2.6.7Rest of Europe Utility Boiler Market
10.2.6.7.1Rest of Europe Utility Boiler Market by Technology
10.2.6.7.2Rest of Europe Utility Boiler Market by Fuel Type
10.2.6.7.3Rest of Europe Utility Boiler Market by Capacity
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Utility Boiler Market Overview
10.3.2Asia-Pacific Utility Boiler Market Forecasts and Analysis
10.3.3Asia-Pacific Utility Boiler Market Forecasts and Analysis - By Technology
10.3.4Asia-Pacific Utility Boiler Market Forecasts and Analysis - By Fuel Type
10.3.5Asia-Pacific Utility Boiler Market Forecasts and Analysis - By Capacity
10.3.6Asia-Pacific Utility Boiler Market Forecasts and Analysis - By Countries
10.3.6.1Australia Utility Boiler Market
10.3.6.1.1Australia Utility Boiler Market by Technology
10.3.6.1.2Australia Utility Boiler Market by Fuel Type
10.3.6.1.3Australia Utility Boiler Market by Capacity
10.3.6.2China Utility Boiler Market
10.3.6.2.1China Utility Boiler Market by Technology
10.3.6.2.2China Utility Boiler Market by Fuel Type
10.3.6.2.3China Utility Boiler Market by Capacity
10.3.6.3India Utility Boiler Market
10.3.6.3.1India Utility Boiler Market by Technology
10.3.6.3.2India Utility Boiler Market by Fuel Type
10.3.6.3.3India Utility Boiler Market by Capacity
10.3.6.4Japan Utility Boiler Market
10.3.6.4.1Japan Utility Boiler Market by Technology
10.3.6.4.2Japan Utility Boiler Market by Fuel Type
10.3.6.4.3Japan Utility Boiler Market by Capacity
10.3.6.5South Korea Utility Boiler Market
10.3.6.5.1South Korea Utility Boiler Market by Technology
10.3.6.5.2South Korea Utility Boiler Market by Fuel Type
10.3.6.5.3South Korea Utility Boiler Market by Capacity
10.3.6.6Rest of Asia-Pacific Utility Boiler Market
10.3.6.6.1Rest of Asia-Pacific Utility Boiler Market by Technology
10.3.6.6.2Rest of Asia-Pacific Utility Boiler Market by Fuel Type
10.3.6.6.3Rest of Asia-Pacific Utility Boiler Market by Capacity
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Utility Boiler Market Overview
10.4.2Middle East and Africa Utility Boiler Market Forecasts and Analysis
10.4.3Middle East and Africa Utility Boiler Market Forecasts and Analysis - By Technology
10.4.4Middle East and Africa Utility Boiler Market Forecasts and Analysis - By Fuel Type
10.4.5Middle East and Africa Utility Boiler Market Forecasts and Analysis - By Capacity
10.4.6Middle East and Africa Utility Boiler Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Utility Boiler Market
10.4.6.1.1South Africa Utility Boiler Market by Technology
10.4.6.1.2South Africa Utility Boiler Market by Fuel Type
10.4.6.1.3South Africa Utility Boiler Market by Capacity
10.4.6.2Saudi Arabia Utility Boiler Market
10.4.6.2.1Saudi Arabia Utility Boiler Market by Technology
10.4.6.2.2Saudi Arabia Utility Boiler Market by Fuel Type
10.4.6.2.3Saudi Arabia Utility Boiler Market by Capacity
10.4.6.3U.A.E Utility Boiler Market
10.4.6.3.1U.A.E Utility Boiler Market by Technology
10.4.6.3.2U.A.E Utility Boiler Market by Fuel Type
10.4.6.3.3U.A.E Utility Boiler Market by Capacity
10.4.6.4Rest of Middle East and Africa Utility Boiler Market
10.4.6.4.1Rest of Middle East and Africa Utility Boiler Market by Technology
10.4.6.4.2Rest of Middle East and Africa Utility Boiler Market by Fuel Type
10.4.6.4.3Rest of Middle East and Africa Utility Boiler Market by Capacity
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Utility Boiler Market Overview
10.5.2South and Central America Utility Boiler Market Forecasts and Analysis
10.5.3South and Central America Utility Boiler Market Forecasts and Analysis - By Technology
10.5.4South and Central America Utility Boiler Market Forecasts and Analysis - By Fuel Type
10.5.5South and Central America Utility Boiler Market Forecasts and Analysis - By Capacity
10.5.6South and Central America Utility Boiler Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Utility Boiler Market
10.5.6.1.1Brazil Utility Boiler Market by Technology
10.5.6.1.2Brazil Utility Boiler Market by Fuel Type
10.5.6.1.3Brazil Utility Boiler Market by Capacity
10.5.6.2Argentina Utility Boiler Market
10.5.6.2.1Argentina Utility Boiler Market by Technology
10.5.6.2.2Argentina Utility Boiler Market by Fuel Type
10.5.6.2.3Argentina Utility Boiler Market by Capacity
10.5.6.3Rest of South and Central America Utility Boiler Market
10.5.6.3.1Rest of South and Central America Utility Boiler Market by Technology
10.5.6.3.2Rest of South and Central America Utility Boiler Market by Fuel Type
10.5.6.3.3Rest of South and Central America Utility Boiler Market by Capacity
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.UTILITY BOILER MARKET, KEY COMPANY PROFILES
12.1.BHARAT HEAVY ELECTRICALS LIMITED
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.THERMAX
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.BABCOCK AND WILCOX
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.IHI
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.MITSUBISHI HITACHI POWER SYSTEMS
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.GENERAL ELECTRIC COMPANY
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.LARSON & TOUBRO LIMITED
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.DOOSAN HEAVY INDUSTRIES
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.SIEMENS
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.AMEC FOSTER WHEELER
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.Bharat Heavy Electricals Limited
2.Thermax
3.Babcock and Wilcox
4.IHI
5.Mitsubishi Hitachi Power Systems
6.General Electric Company
7.Larson & Toubro Limited
8.Doosan Heavy Industries
9.Siemens
10.AMEC Foster Wheeler
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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