Water Heater Market Dynamics, Growth, Trends, and Opportunities 2031

Coverage: Water Heater Market covers analysis By Product Type (Gas, Instant, Storage, Solar); Application (Residential, Commercial, Industrial); Capacity (Up to 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, Above 400 Liters) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPTE100000489
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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Water Heater Market Drivers and Opportunities [2021-2031]

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The Water Heater Market is expected to register a CAGR of 5.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by Product (Electric, Solar, Gas), Technology (Tankless, Storage, Hybrid), Capacity (Below 30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, Above 400 Liters), Application (Residential, Commercial, Industrial). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments

Purpose of the Report

The report Water Heater 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.

Water Heater Market Segmentation

Product
  • Electric
  • Solar
  • Gas
Technology
  • Tankless
  • Storage
  • Hybrid
Capacity
  • Below 30 Liters
  • 30 - 100 Liters
  • 100 - 250 Liters
  • 250 - 400 Liters
  • Above 400 Liters
Application
  • Residential
  • Commercial
  • Industrial
Application
  • Residential
  • Commercial
  • Industrial

Strategic Insights

Water Heater Market Growth Drivers
  • Rising Demand for Energy-Efficient Solutions: As energy efficiency becomes a priority in residential and commercial buildings, consumers are increasingly opting for water heaters that consume less energy. This is driving the demand for high-efficiency models like tankless and heat pump water heaters, which help reduce utility costs while providing reliable hot water. Energy-efficient water heaters are gaining popularity due to their long-term cost savings and environmental benefits.
  • Increasing Adoption of Smart Home Technologies: The growing trend of smart homes is another key driver for the water heater market. Smart water heaters, which can be controlled remotely via smartphones or home automation systems, offer convenience, energy management, and optimal performance. As more homeowners embrace smart devices, the demand for connected and intelligent water heaters is expected to rise, boosting market growth.
Water Heater Market Future Trends
  • Shift Toward Tankless Water Heaters: Tankless water heaters, also known as on-demand water heaters, are becoming increasingly popular due to their energy-saving benefits. Unlike traditional storage water heaters, tankless models only heat water as needed, reducing energy wastage. As consumers seek more efficient and space-saving solutions, the shift toward tankless water heaters is growing, particularly in smaller homes and apartments.
  • Focus on Solar Water Heating Solutions: Solar water heaters are gaining traction as consumers and businesses seek eco-friendly alternatives. With the rise in environmental awareness and government incentives for sustainable energy solutions, solar water heating systems are becoming an attractive option. This trend is expected to continue as the technology becomes more affordable and efficient.
Water Heater Market Opportunities
  • Growth in Commercial and Industrial Applications: Commercial and industrial sectors, including hotels, hospitals, and manufacturing plants, require large-scale water heating systems. As the demand for consistent and energy-efficient hot water grows in these sectors, the opportunity for manufacturers to develop robust and high-capacity water heaters for commercial and industrial use is expanding.
  • Innovation in Hybrid Water Heating Systems: Hybrid water heaters, which combine traditional tank-style heating with modern heat pump technology, offer an opportunity for market growth. These systems are energy-efficient and cost-effective, providing both heating and cooling benefits. As consumers look for sustainable and versatile solutions, hybrid systems are poised to capture a significant market share in the coming years.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Water Heater 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 Water Heater 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
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


What is the expected CAGR of water heater market?

The Water Heater Market is estimated to witness a CAGR of 5.2% from 2023 to 2031

What are the driving factors impacting global water heater market?

Consumers demand convenience and reliability, and the adoption of energy efficiency and cost savings solutions are the major factors driving the water heater market.

What are the future trends of water heater market?

Government initiatives and regulations for energy-efficiency water heaters are likely to remain a key trend in the market.

What are the deliverable formats of the water heater market report?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request

What are the options available for the customization of this report?

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

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Water Heater Market - By Product Type
1.3.2 Water Heater Market - By Application
1.3.3 Water Heater Market - By Capacity
1.3.4 Water Heater Market - By Region
1.3.4.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. WATER HEATER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS

5. WATER HEATER 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. WATER HEATER MARKET - GLOBAL MARKET ANALYSIS
6.1. WATER HEATER - GLOBAL MARKET OVERVIEW
6.2. WATER HEATER - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE

7. WATER HEATER MARKET - REVENUE AND FORECASTS TO 2027 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. GAS
7.3.1. Overview
7.3.2. Gas Market Forecast and Analysis
7.4. INSTANT
7.4.1. Overview
7.4.2. Instant Market Forecast and Analysis
7.5. STORAGE
7.5.1. Overview
7.5.2. Storage Market Forecast and Analysis
7.6. SOLAR
7.6.1. Overview
7.6.2. Solar Market Forecast and Analysis
8. WATER HEATER MARKET - REVENUE AND FORECASTS TO 2027 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL
8.3.1. Overview
8.3.2. Residential Market Forecast and Analysis
8.4. COMMERCIAL
8.4.1. Overview
8.4.2. Commercial Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. Industrial Market Forecast and Analysis
9. WATER HEATER MARKET - REVENUE AND FORECASTS TO 2027 - CAPACITY
9.1. OVERVIEW
9.2. CAPACITY MARKET FORECASTS AND ANALYSIS
9.3. UP TO 30 LITERS
9.3.1. Overview
9.3.2. Up to 30 Liters Market Forecast and Analysis
9.4. 30-100 LITERS
9.4.1. Overview
9.4.2. 30-100 Liters Market Forecast and Analysis
9.5. 100-250 LITERS
9.5.1. Overview
9.5.2. 100-250 Liters Market Forecast and Analysis
9.6. 250-400 LITERS
9.6.1. Overview
9.6.2. 250-400 Liters Market Forecast and Analysis
9.7. ABOVE 400 LITERS
9.7.1. Overview
9.7.2. Above 400 Liters Market Forecast and Analysis

10. WATER HEATER MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Water Heater Market Overview
10.1.2 North America Water Heater Market Forecasts and Analysis
10.1.3 North America Water Heater Market Forecasts and Analysis - By Product Type
10.1.4 North America Water Heater Market Forecasts and Analysis - By Application
10.1.5 North America Water Heater Market Forecasts and Analysis - By Capacity
10.1.6 North America Water Heater Market Forecasts and Analysis - By Countries
10.1.6.1 United States Water Heater Market
10.1.6.1.1 United States Water Heater Market by Product Type
10.1.6.1.2 United States Water Heater Market by Application
10.1.6.1.3 United States Water Heater Market by Capacity
10.1.6.2 Canada Water Heater Market
10.1.6.2.1 Canada Water Heater Market by Product Type
10.1.6.2.2 Canada Water Heater Market by Application
10.1.6.2.3 Canada Water Heater Market by Capacity
10.1.6.3 Mexico Water Heater Market
10.1.6.3.1 Mexico Water Heater Market by Product Type
10.1.6.3.2 Mexico Water Heater Market by Application
10.1.6.3.3 Mexico Water Heater Market by Capacity
10.2. EUROPE
10.2.1 Europe Water Heater Market Overview
10.2.2 Europe Water Heater Market Forecasts and Analysis
10.2.3 Europe Water Heater Market Forecasts and Analysis - By Product Type
10.2.4 Europe Water Heater Market Forecasts and Analysis - By Application
10.2.5 Europe Water Heater Market Forecasts and Analysis - By Capacity
10.2.6 Europe Water Heater Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Water Heater Market
10.2.6.1.1 Germany Water Heater Market by Product Type
10.2.6.1.2 Germany Water Heater Market by Application
10.2.6.1.3 Germany Water Heater Market by Capacity
10.2.6.2 France Water Heater Market
10.2.6.2.1 France Water Heater Market by Product Type
10.2.6.2.2 France Water Heater Market by Application
10.2.6.2.3 France Water Heater Market by Capacity
10.2.6.3 Italy Water Heater Market
10.2.6.3.1 Italy Water Heater Market by Product Type
10.2.6.3.2 Italy Water Heater Market by Application
10.2.6.3.3 Italy Water Heater Market by Capacity
10.2.6.4 United Kingdom Water Heater Market
10.2.6.4.1 United Kingdom Water Heater Market by Product Type
10.2.6.4.2 United Kingdom Water Heater Market by Application
10.2.6.4.3 United Kingdom Water Heater Market by Capacity
10.2.6.5 Russia Water Heater Market
10.2.6.5.1 Russia Water Heater Market by Product Type
10.2.6.5.2 Russia Water Heater Market by Application
10.2.6.5.3 Russia Water Heater Market by Capacity
10.2.6.6 Rest of Europe Water Heater Market
10.2.6.6.1 Rest of Europe Water Heater Market by Product Type
10.2.6.6.2 Rest of Europe Water Heater Market by Application
10.2.6.6.3 Rest of Europe Water Heater Market by Capacity
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Water Heater Market Overview
10.3.2 Asia-Pacific Water Heater Market Forecasts and Analysis
10.3.3 Asia-Pacific Water Heater Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Water Heater Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Water Heater Market Forecasts and Analysis - By Capacity
10.3.6 Asia-Pacific Water Heater Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Water Heater Market
10.3.6.1.1 Australia Water Heater Market by Product Type
10.3.6.1.2 Australia Water Heater Market by Application
10.3.6.1.3 Australia Water Heater Market by Capacity
10.3.6.2 China Water Heater Market
10.3.6.2.1 China Water Heater Market by Product Type
10.3.6.2.2 China Water Heater Market by Application
10.3.6.2.3 China Water Heater Market by Capacity
10.3.6.3 India Water Heater Market
10.3.6.3.1 India Water Heater Market by Product Type
10.3.6.3.2 India Water Heater Market by Application
10.3.6.3.3 India Water Heater Market by Capacity
10.3.6.4 Japan Water Heater Market
10.3.6.4.1 Japan Water Heater Market by Product Type
10.3.6.4.2 Japan Water Heater Market by Application
10.3.6.4.3 Japan Water Heater Market by Capacity
10.3.6.5 South Korea Water Heater Market
10.3.6.5.1 South Korea Water Heater Market by Product Type
10.3.6.5.2 South Korea Water Heater Market by Application
10.3.6.5.3 South Korea Water Heater Market by Capacity
10.3.6.6 Rest of Asia-Pacific Water Heater Market
10.3.6.6.1 Rest of Asia-Pacific Water Heater Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Water Heater Market by Application
10.3.6.6.3 Rest of Asia-Pacific Water Heater Market by Capacity
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Water Heater Market Overview
10.4.2 Middle East and Africa Water Heater Market Forecasts and Analysis
10.4.3 Middle East and Africa Water Heater Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Water Heater Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Water Heater Market Forecasts and Analysis - By Capacity
10.4.6 Middle East and Africa Water Heater Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Water Heater Market
10.4.6.1.1 South Africa Water Heater Market by Product Type
10.4.6.1.2 South Africa Water Heater Market by Application
10.4.6.1.3 South Africa Water Heater Market by Capacity
10.4.6.2 Saudi Arabia Water Heater Market
10.4.6.2.1 Saudi Arabia Water Heater Market by Product Type
10.4.6.2.2 Saudi Arabia Water Heater Market by Application
10.4.6.2.3 Saudi Arabia Water Heater Market by Capacity
10.4.6.3 U.A.E Water Heater Market
10.4.6.3.1 U.A.E Water Heater Market by Product Type
10.4.6.3.2 U.A.E Water Heater Market by Application
10.4.6.3.3 U.A.E Water Heater Market by Capacity
10.4.6.4 Rest of Middle East and Africa Water Heater Market
10.4.6.4.1 Rest of Middle East and Africa Water Heater Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Water Heater Market by Application
10.4.6.4.3 Rest of Middle East and Africa Water Heater Market by Capacity
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Water Heater Market Overview
10.5.2 South and Central America Water Heater Market Forecasts and Analysis
10.5.3 South and Central America Water Heater Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Water Heater Market Forecasts and Analysis - By Application
10.5.5 South and Central America Water Heater Market Forecasts and Analysis - By Capacity
10.5.6 South and Central America Water Heater Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Water Heater Market
10.5.6.1.1 Brazil Water Heater Market by Product Type
10.5.6.1.2 Brazil Water Heater Market by Application
10.5.6.1.3 Brazil Water Heater Market by Capacity
10.5.6.2 Argentina Water Heater Market
10.5.6.2.1 Argentina Water Heater Market by Product Type
10.5.6.2.2 Argentina Water Heater Market by Application
10.5.6.2.3 Argentina Water Heater Market by Capacity
10.5.6.3 Rest of South and Central America Water Heater Market
10.5.6.3.1 Rest of South and Central America Water Heater Market by Product Type
10.5.6.3.2 Rest of South and Central America Water Heater Market by Application
10.5.6.3.3 Rest of South and Central America Water Heater 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. WATER HEATER MARKET, KEY COMPANY PROFILES
12.1. ARISTON THERMO SPA
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. BAJAJ ELECTRICALS LTD.
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. BOSCH INDUSTRIEKESSEL GMBH
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. BRADFORD WHITE CORPORATION
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. BRADLEY CORPORATION
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. BSH HOME APPLIANCES GROUP (SIEMENS 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. ECCOTEMP.COM
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. A. O. SMITH CORPORATION
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. RINNAI AMERICA CORPORATION
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. VENUS HOME APPLIANCES (P) LTD.
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
The List of Companies

1. Ariston Thermo SPA
2. Bajaj Electricals Ltd.
3. Bosch Industriekessel GmbH
4. Bradford White Corporation
5. Bradley Corporation
6. BSH Home Appliances Group (Siemens AG)
7. Eccotemp.com
8. A. O. Smith Corporation
9. Rinnai America Corporation
10. Venus Home Appliances (P) Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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