Wind Turbine Blade Recycling Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The rising number of offshore and onshore wind power plants for decommissioning is anticipated to drive the market's growth in the forecast period. In addition, the key driving factors responsible for bringing the Wind Turbine Blade recycling market growth include the favorable policies from the governments that encourage the use of renewable energy resources to maintain a balance in the environment. Furthermore, it has been seen that the cost of wind energy generation is reducing, which will drive market growth. Moreover, the rising concerns about the environment and fossil fuel consumption and improving economic conditions in developing countries have also driven the growth in the wind turbine blade recycling market.
MARKET SCOPE
The "Global Wind Turbine Blade Recycling Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the wind turbine blade recycling market with detailed market segmentation by blade material, recycling type, and geography. The global wind turbine blade recycling market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading wind turbine blade recycling market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global wind turbine blade recycling market is segmented by blade material, and recycling type.
MARKET DYNAMICS
Drivers-
Restrains
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 market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's 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 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 automotive connector's market in these regions.
IMPACT OF COVID-19
The COVID-19 pandemic has greatly impacted the wind turbine blade recycling market's growth. Due to random lockdowns, major countries such as China, the United States, and Germany have faced disruptions in manufacturing and supplying the rotor blades. Thus, the commissioning of the wind projects was delayed. Moreover, the rising number of offshore and onshore wind power installations globally is anticipated to drive market growth during the forecast period. However, factors, such as the related high cost of transportation and cost competitiveness of alternate clean power sources, like solar energy, hydropower, etc., might hinder market growth in the forecast period. Carbon Rivers, a company that manufactures advanced material and power technologies, has commercialized a process to recover clean, mechanically intact glass fiber from decommissioned wind turbine blades. Moreover, Siemens Gamesa's first recyclable blades are spinning on a wind turbine at the Kaskasi offshore wind farm in Germany. The Recyclable Blade technology was developed in Aalborg, Denmark, and the blades were manufactured in Hull in the UK. These developments by the key players might help the market to recover from the disruption that happened due to the Covid-19 pandemic.
![World Geography](https://www.theinsightpartners.com/assets/rdimages/world-geography.png)
Have a question?
![Analyst](https://www.theinsightpartners.com/assets/naveen-chittaragi.png)
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
![Analyst](https://www.theinsightpartners.com/assets/images/speak_analyst.gif)
- 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 provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's 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 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 automotive connector's market in these regions.
IMPACT OF COVID-19
The COVID-19 pandemic has greatly impacted the wind turbine blade recycling market's growth. Due to random lockdowns, major countries such as China, the United States, and Germany have faced disruptions in manufacturing and supplying the rotor blades. Thus, the commissioning of the wind projects was delayed. Moreover, the rising number of offshore and onshore wind power installations globally is anticipated to drive market growth during the forecast period. However, factors, such as the related high cost of transportation and cost competitiveness of alternate clean power sources, like solar energy, hydropower, etc., might hinder market growth in the forecast period. Carbon Rivers, a company that manufactures advanced material and power technologies, has commercialized a process to recover clean, mechanically intact glass fiber from decommissioned wind turbine blades. Moreover, Siemens Gamesa's first recyclable blades are spinning on a wind turbine at the Kaskasi offshore wind farm in Germany. The Recyclable Blade technology was developed in Aalborg, Denmark, and the blades were manufactured in Hull in the UK. These developments by the key players might help the market to recover from the disruption that happened due to the Covid-19 pandemic.
MARKET PLAYERS
The reports cover key developments in the wind turbine blade recycling 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 partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from wind turbine blade recycling market are anticipated to lucrative growth opportunities in the future with the rising demand for biogas CHP in the global market. Below mentioned is the list of few companies engaged in the wind turbine blade recycling market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the wind turbine blade recycling 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 three years, the key development in the past five years.
- LM Wind Power
- Siemens Gamesa Renewable Energy SA
- Vestas Wind Systems A/S
- Veolia Environnement S.A
- Arkema S.A
- Carbon Rivers
- General Electric
- Orsted A/S
- Iberdrola, S.A
- 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](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
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
1.3.1 Wind Turbine Blade Recycling Market - By Blade Material
1.3.2 Wind Turbine Blade Recycling Market - By Recycling Type
1.3.3 Wind Turbine Blade Recycling Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WIND TURBINE BLADE RECYCLING 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. WIND TURBINE BLADE RECYCLING 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. WIND TURBINE BLADE RECYCLING MARKET - GLOBAL MARKET ANALYSIS
6.1. WIND TURBINE BLADE RECYCLING - GLOBAL MARKET OVERVIEW
6.2. WIND TURBINE BLADE RECYCLING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WIND TURBINE BLADE RECYCLING MARKET - REVENUE AND FORECASTS TO 2028 - BLADE MATERIAL
7.1. OVERVIEW
7.2. BLADE MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. CARBON FIBER
7.3.1. Overview
7.3.2. Carbon Fiber Market Forecast and Analysis
7.4. GLASS FIBER
7.4.1. Overview
7.4.2. Glass Fiber Market Forecast and Analysis
7.5. OTHER BLADE MATERIALS
7.5.1. Overview
7.5.2. Other Blade Materials Market Forecast and Analysis
8. WIND TURBINE BLADE RECYCLING MARKET - REVENUE AND FORECASTS TO 2028 - RECYCLING TYPE
8.1. OVERVIEW
8.2. RECYCLING TYPE MARKET FORECASTS AND ANALYSIS
8.3. PHYSICAL RECYCLING
8.3.1. Overview
8.3.2. Physical Recycling Market Forecast and Analysis
8.4. THERMO-CHEMICAL RECYCLING
8.4.1. Overview
8.4.2. Thermo-Chemical Recycling Market Forecast and Analysis
9. WIND TURBINE BLADE RECYCLING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Wind Turbine Blade Recycling Market Overview
9.1.2 North America Wind Turbine Blade Recycling Market Forecasts and Analysis
9.1.3 North America Wind Turbine Blade Recycling Market Forecasts and Analysis - By Blade Material
9.1.4 North America Wind Turbine Blade Recycling Market Forecasts and Analysis - By Recycling Type
9.1.5 North America Wind Turbine Blade Recycling Market Forecasts and Analysis - By Countries
9.1.5.1 United States Wind Turbine Blade Recycling Market
9.1.5.1.1 United States Wind Turbine Blade Recycling Market by Blade Material
9.1.5.1.2 United States Wind Turbine Blade Recycling Market by Recycling Type
9.1.5.2 Canada Wind Turbine Blade Recycling Market
9.1.5.2.1 Canada Wind Turbine Blade Recycling Market by Blade Material
9.1.5.2.2 Canada Wind Turbine Blade Recycling Market by Recycling Type
9.1.5.3 Mexico Wind Turbine Blade Recycling Market
9.1.5.3.1 Mexico Wind Turbine Blade Recycling Market by Blade Material
9.1.5.3.2 Mexico Wind Turbine Blade Recycling Market by Recycling Type
9.2. EUROPE
9.2.1 Europe Wind Turbine Blade Recycling Market Overview
9.2.2 Europe Wind Turbine Blade Recycling Market Forecasts and Analysis
9.2.3 Europe Wind Turbine Blade Recycling Market Forecasts and Analysis - By Blade Material
9.2.4 Europe Wind Turbine Blade Recycling Market Forecasts and Analysis - By Recycling Type
9.2.5 Europe Wind Turbine Blade Recycling Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Wind Turbine Blade Recycling Market
9.2.5.1.1 Germany Wind Turbine Blade Recycling Market by Blade Material
9.2.5.1.2 Germany Wind Turbine Blade Recycling Market by Recycling Type
9.2.5.2 France Wind Turbine Blade Recycling Market
9.2.5.2.1 France Wind Turbine Blade Recycling Market by Blade Material
9.2.5.2.2 France Wind Turbine Blade Recycling Market by Recycling Type
9.2.5.3 Italy Wind Turbine Blade Recycling Market
9.2.5.3.1 Italy Wind Turbine Blade Recycling Market by Blade Material
9.2.5.3.2 Italy Wind Turbine Blade Recycling Market by Recycling Type
9.2.5.4 United Kingdom Wind Turbine Blade Recycling Market
9.2.5.4.1 United Kingdom Wind Turbine Blade Recycling Market by Blade Material
9.2.5.4.2 United Kingdom Wind Turbine Blade Recycling Market by Recycling Type
9.2.5.5 Russia Wind Turbine Blade Recycling Market
9.2.5.5.1 Russia Wind Turbine Blade Recycling Market by Blade Material
9.2.5.5.2 Russia Wind Turbine Blade Recycling Market by Recycling Type
9.2.5.6 Rest of Europe Wind Turbine Blade Recycling Market
9.2.5.6.1 Rest of Europe Wind Turbine Blade Recycling Market by Blade Material
9.2.5.6.2 Rest of Europe Wind Turbine Blade Recycling Market by Recycling Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Wind Turbine Blade Recycling Market Overview
9.3.2 Asia-Pacific Wind Turbine Blade Recycling Market Forecasts and Analysis
9.3.3 Asia-Pacific Wind Turbine Blade Recycling Market Forecasts and Analysis - By Blade Material
9.3.4 Asia-Pacific Wind Turbine Blade Recycling Market Forecasts and Analysis - By Recycling Type
9.3.5 Asia-Pacific Wind Turbine Blade Recycling Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Wind Turbine Blade Recycling Market
9.3.5.1.1 Australia Wind Turbine Blade Recycling Market by Blade Material
9.3.5.1.2 Australia Wind Turbine Blade Recycling Market by Recycling Type
9.3.5.2 China Wind Turbine Blade Recycling Market
9.3.5.2.1 China Wind Turbine Blade Recycling Market by Blade Material
9.3.5.2.2 China Wind Turbine Blade Recycling Market by Recycling Type
9.3.5.3 India Wind Turbine Blade Recycling Market
9.3.5.3.1 India Wind Turbine Blade Recycling Market by Blade Material
9.3.5.3.2 India Wind Turbine Blade Recycling Market by Recycling Type
9.3.5.4 Japan Wind Turbine Blade Recycling Market
9.3.5.4.1 Japan Wind Turbine Blade Recycling Market by Blade Material
9.3.5.4.2 Japan Wind Turbine Blade Recycling Market by Recycling Type
9.3.5.5 South Korea Wind Turbine Blade Recycling Market
9.3.5.5.1 South Korea Wind Turbine Blade Recycling Market by Blade Material
9.3.5.5.2 South Korea Wind Turbine Blade Recycling Market by Recycling Type
9.3.5.6 Rest of Asia-Pacific Wind Turbine Blade Recycling Market
9.3.5.6.1 Rest of Asia-Pacific Wind Turbine Blade Recycling Market by Blade Material
9.3.5.6.2 Rest of Asia-Pacific Wind Turbine Blade Recycling Market by Recycling Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Wind Turbine Blade Recycling Market Overview
9.4.2 Middle East and Africa Wind Turbine Blade Recycling Market Forecasts and Analysis
9.4.3 Middle East and Africa Wind Turbine Blade Recycling Market Forecasts and Analysis - By Blade Material
9.4.4 Middle East and Africa Wind Turbine Blade Recycling Market Forecasts and Analysis - By Recycling Type
9.4.5 Middle East and Africa Wind Turbine Blade Recycling Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Wind Turbine Blade Recycling Market
9.4.5.1.1 South Africa Wind Turbine Blade Recycling Market by Blade Material
9.4.5.1.2 South Africa Wind Turbine Blade Recycling Market by Recycling Type
9.4.5.2 Saudi Arabia Wind Turbine Blade Recycling Market
9.4.5.2.1 Saudi Arabia Wind Turbine Blade Recycling Market by Blade Material
9.4.5.2.2 Saudi Arabia Wind Turbine Blade Recycling Market by Recycling Type
9.4.5.3 U.A.E Wind Turbine Blade Recycling Market
9.4.5.3.1 U.A.E Wind Turbine Blade Recycling Market by Blade Material
9.4.5.3.2 U.A.E Wind Turbine Blade Recycling Market by Recycling Type
9.4.5.4 Rest of Middle East and Africa Wind Turbine Blade Recycling Market
9.4.5.4.1 Rest of Middle East and Africa Wind Turbine Blade Recycling Market by Blade Material
9.4.5.4.2 Rest of Middle East and Africa Wind Turbine Blade Recycling Market by Recycling Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Wind Turbine Blade Recycling Market Overview
9.5.2 South and Central America Wind Turbine Blade Recycling Market Forecasts and Analysis
9.5.3 South and Central America Wind Turbine Blade Recycling Market Forecasts and Analysis - By Blade Material
9.5.4 South and Central America Wind Turbine Blade Recycling Market Forecasts and Analysis - By Recycling Type
9.5.5 South and Central America Wind Turbine Blade Recycling Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Wind Turbine Blade Recycling Market
9.5.5.1.1 Brazil Wind Turbine Blade Recycling Market by Blade Material
9.5.5.1.2 Brazil Wind Turbine Blade Recycling Market by Recycling Type
9.5.5.2 Argentina Wind Turbine Blade Recycling Market
9.5.5.2.1 Argentina Wind Turbine Blade Recycling Market by Blade Material
9.5.5.2.2 Argentina Wind Turbine Blade Recycling Market by Recycling Type
9.5.5.3 Rest of South and Central America Wind Turbine Blade Recycling Market
9.5.5.3.1 Rest of South and Central America Wind Turbine Blade Recycling Market by Blade Material
9.5.5.3.2 Rest of South and Central America Wind Turbine Blade Recycling Market by Recycling Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. WIND TURBINE BLADE RECYCLING MARKET, KEY COMPANY PROFILES
11.1. LM WIND POWER
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. SIEMENS GAMESA RENEWABLE ENERGY SA
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. VESTAS WIND SYSTEMS A/S
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. VEOLIA ENVIRONNEMENT S.A
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ARKEMA S.A
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CARBON RIVERS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. GENERAL ELECTRIC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ORSTED A/S
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. IBERDROLA, S.A
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. LM Wind Power
2. Siemens Gamesa Renewable Energy SA
3. Vestas Wind Systems A/S
4. Veolia Environnement S.A
5. Arkema S.A
6. Carbon Rivers
7. General Electric
8. Orsted A/S
9. Iberdrola, S.A
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.