Wind Turbine Drivetrain Market Updates by 2031
Wind turbine drivetrain is composed of gearbox and generators that convert rotational energy of blades into electrical energy. The rise in demand for wind power generation along with supportive government regulations for wind power projects are the key factors contributing the market growth over the coming years. The upcoming wind power projects is anticipated to hold potential opportunity for the growth of the market.
MARKET SCOPE
The "Global Wind Turbine Drivetrain Market Analysis to 2031" is a specialized and in-depth study of the renewable energy components with a special focus on the global market trend analysis. The report aims to provide an overview of the wind turbine drivetrain market with detailed market segmentation by type, application and geography. The report provides key statistics on the market status of the leading wind turbine drivetrain market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type the market is segmented into conventional drivetrain, direct drivetrain, and multiple generator drivetrain
- On the basis application, the market is segmented as onshore wind power and offshore wind power
Drivers
- Rise in demand for wind power generation
- Supportive government regulations for wind power projects
- High cost of repair and downtime issues of gearbox assembled in wind turbine drivetrain restraints the market growth
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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The wind turbine drivetrain 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 market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the wind turbine drivetrain market in these regions.
IMPACT OF COVID-19 ON WIND TURBINE DRIVETRAIN MARKET
The emergence of the COVID-19 has severely impacted the renewable energy industries, which resulted decline in the demand for power generation in the year 2021. Sales of wind turbine are directly proportional to the demand for wind power projects. Wind projects have been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in demand for wind turbine. The manufacturing of wind turbine was halted for a specific period due to high peak of COVID-19, which highly impacted the sales of wind turbine. Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using wind turbine, thereby affecting the global market. However, from 2021 the ease in restrictions and reopening of industries have accelerated the rise in number of wind power projects which further helped the market to grow over the covid recovery period.
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The wind turbine drivetrain 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 market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the wind turbine drivetrain market in these regions.
IMPACT OF COVID-19 ON WIND TURBINE DRIVETRAIN MARKET
The emergence of the COVID-19 has severely impacted the renewable energy industries, which resulted decline in the demand for power generation in the year 2021. Sales of wind turbine are directly proportional to the demand for wind power projects. Wind projects have been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in demand for wind turbine. The manufacturing of wind turbine was halted for a specific period due to high peak of COVID-19, which highly impacted the sales of wind turbine. Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using wind turbine, thereby affecting the global market. However, from 2021 the ease in restrictions and reopening of industries have accelerated the rise in number of wind power projects which further helped the market to grow over the covid recovery period.
MARKET PLAYERS
The report covers key developments in the wind turbine drivetrain market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in wind turbine drivetrain market are anticipated to get lucrative growth opportunities in the future owing increase in R&D investments.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the wind turbine drivetrain market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- General Electric
- ENERCON GmbH
- ZF Friedrichshafen AG
- Flender
- Siemens Gamesa Renewable Energy, S.A.
- Nanjing High Speed & Accurate Gear Group Co., Ltd.
- Senvion GmbH
- Eickhoff Antriebstechnik GmbH
- ISHIBASHI Manufacturing Co., Ltd.
- Bosch Rexroth AG
- 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.
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 Wind Turbine Drivetrain Market - By Type
1.3.2 Wind Turbine Drivetrain Market - By Application
1.3.3 Wind Turbine Drivetrain Market - By Capacity
1.3.4 Wind Turbine Drivetrain Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WIND TURBINE DRIVETRAIN 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. EXPERT OPINIONS
5. WIND TURBINE DRIVETRAIN 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 DRIVETRAIN MARKET - GLOBAL MARKET ANALYSIS
6.1. WIND TURBINE DRIVETRAIN - GLOBAL MARKET OVERVIEW
6.2. WIND TURBINE DRIVETRAIN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WIND TURBINE DRIVETRAIN MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CONVENTIONAL DRIVETRAIN
7.3.1. Overview
7.3.2. Conventional Drivetrain Market Forecast and Analysis
7.4. DIRECT DRIVETRAIN
7.4.1. Overview
7.4.2. Direct Drivetrain Market Forecast and Analysis
7.5. MULTIPLE GENERATOR DRIVETRAIN
7.5.1. Overview
7.5.2. Multiple Generator Drivetrain Market Forecast and Analysis
8. WIND TURBINE DRIVETRAIN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ONSHORE WIND POWER
8.3.1. Overview
8.3.2. Onshore Wind Power Market Forecast and Analysis
8.4. OFFSHORE WIND POWER
8.4.1. Overview
8.4.2. Offshore Wind Power Market Forecast and Analysis
9. WIND TURBINE DRIVETRAIN MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
9.1. OVERVIEW
9.2. CAPACITY MARKET FORECASTS AND ANALYSIS
9.3. 2 MW
9.3.1. Overview
9.3.2. 2 MW Market Forecast and Analysis
9.4. 2-5 MW
9.4.1. Overview
9.4.2. 2-5 MW Market Forecast and Analysis
9.5. ABOVE 5 MW
9.5.1. Overview
9.5.2. Above 5 MW Market Forecast and Analysis
10. WIND TURBINE DRIVETRAIN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Wind Turbine Drivetrain Market Overview
10.1.2 North America Wind Turbine Drivetrain Market Forecasts and Analysis
10.1.3 North America Wind Turbine Drivetrain Market Forecasts and Analysis - By Type
10.1.4 North America Wind Turbine Drivetrain Market Forecasts and Analysis - By Application
10.1.5 North America Wind Turbine Drivetrain Market Forecasts and Analysis - By Capacity
10.1.6 North America Wind Turbine Drivetrain Market Forecasts and Analysis - By Countries
10.1.6.1 United States Wind Turbine Drivetrain Market
10.1.6.1.1 United States Wind Turbine Drivetrain Market by Type
10.1.6.1.2 United States Wind Turbine Drivetrain Market by Application
10.1.6.1.3 United States Wind Turbine Drivetrain Market by Capacity
10.1.6.2 Canada Wind Turbine Drivetrain Market
10.1.6.2.1 Canada Wind Turbine Drivetrain Market by Type
10.1.6.2.2 Canada Wind Turbine Drivetrain Market by Application
10.1.6.2.3 Canada Wind Turbine Drivetrain Market by Capacity
10.1.6.3 Mexico Wind Turbine Drivetrain Market
10.1.6.3.1 Mexico Wind Turbine Drivetrain Market by Type
10.1.6.3.2 Mexico Wind Turbine Drivetrain Market by Application
10.1.6.3.3 Mexico Wind Turbine Drivetrain Market by Capacity
10.2. EUROPE
10.2.1 Europe Wind Turbine Drivetrain Market Overview
10.2.2 Europe Wind Turbine Drivetrain Market Forecasts and Analysis
10.2.3 Europe Wind Turbine Drivetrain Market Forecasts and Analysis - By Type
10.2.4 Europe Wind Turbine Drivetrain Market Forecasts and Analysis - By Application
10.2.5 Europe Wind Turbine Drivetrain Market Forecasts and Analysis - By Capacity
10.2.6 Europe Wind Turbine Drivetrain Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Wind Turbine Drivetrain Market
10.2.6.1.1 Germany Wind Turbine Drivetrain Market by Type
10.2.6.1.2 Germany Wind Turbine Drivetrain Market by Application
10.2.6.1.3 Germany Wind Turbine Drivetrain Market by Capacity
10.2.6.2 France Wind Turbine Drivetrain Market
10.2.6.2.1 France Wind Turbine Drivetrain Market by Type
10.2.6.2.2 France Wind Turbine Drivetrain Market by Application
10.2.6.2.3 France Wind Turbine Drivetrain Market by Capacity
10.2.6.3 Italy Wind Turbine Drivetrain Market
10.2.6.3.1 Italy Wind Turbine Drivetrain Market by Type
10.2.6.3.2 Italy Wind Turbine Drivetrain Market by Application
10.2.6.3.3 Italy Wind Turbine Drivetrain Market by Capacity
10.2.6.4 United Kingdom Wind Turbine Drivetrain Market
10.2.6.4.1 United Kingdom Wind Turbine Drivetrain Market by Type
10.2.6.4.2 United Kingdom Wind Turbine Drivetrain Market by Application
10.2.6.4.3 United Kingdom Wind Turbine Drivetrain Market by Capacity
10.2.6.5 Russia Wind Turbine Drivetrain Market
10.2.6.5.1 Russia Wind Turbine Drivetrain Market by Type
10.2.6.5.2 Russia Wind Turbine Drivetrain Market by Application
10.2.6.5.3 Russia Wind Turbine Drivetrain Market by Capacity
10.2.6.6 Rest of Europe Wind Turbine Drivetrain Market
10.2.6.6.1 Rest of Europe Wind Turbine Drivetrain Market by Type
10.2.6.6.2 Rest of Europe Wind Turbine Drivetrain Market by Application
10.2.6.6.3 Rest of Europe Wind Turbine Drivetrain Market by Capacity
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Wind Turbine Drivetrain Market Overview
10.3.2 Asia-Pacific Wind Turbine Drivetrain Market Forecasts and Analysis
10.3.3 Asia-Pacific Wind Turbine Drivetrain Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Wind Turbine Drivetrain Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Wind Turbine Drivetrain Market Forecasts and Analysis - By Capacity
10.3.6 Asia-Pacific Wind Turbine Drivetrain Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Wind Turbine Drivetrain Market
10.3.6.1.1 Australia Wind Turbine Drivetrain Market by Type
10.3.6.1.2 Australia Wind Turbine Drivetrain Market by Application
10.3.6.1.3 Australia Wind Turbine Drivetrain Market by Capacity
10.3.6.2 China Wind Turbine Drivetrain Market
10.3.6.2.1 China Wind Turbine Drivetrain Market by Type
10.3.6.2.2 China Wind Turbine Drivetrain Market by Application
10.3.6.2.3 China Wind Turbine Drivetrain Market by Capacity
10.3.6.3 India Wind Turbine Drivetrain Market
10.3.6.3.1 India Wind Turbine Drivetrain Market by Type
10.3.6.3.2 India Wind Turbine Drivetrain Market by Application
10.3.6.3.3 India Wind Turbine Drivetrain Market by Capacity
10.3.6.4 Japan Wind Turbine Drivetrain Market
10.3.6.4.1 Japan Wind Turbine Drivetrain Market by Type
10.3.6.4.2 Japan Wind Turbine Drivetrain Market by Application
10.3.6.4.3 Japan Wind Turbine Drivetrain Market by Capacity
10.3.6.5 South Korea Wind Turbine Drivetrain Market
10.3.6.5.1 South Korea Wind Turbine Drivetrain Market by Type
10.3.6.5.2 South Korea Wind Turbine Drivetrain Market by Application
10.3.6.5.3 South Korea Wind Turbine Drivetrain Market by Capacity
10.3.6.6 Rest of Asia-Pacific Wind Turbine Drivetrain Market
10.3.6.6.1 Rest of Asia-Pacific Wind Turbine Drivetrain Market by Type
10.3.6.6.2 Rest of Asia-Pacific Wind Turbine Drivetrain Market by Application
10.3.6.6.3 Rest of Asia-Pacific Wind Turbine Drivetrain Market by Capacity
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Wind Turbine Drivetrain Market Overview
10.4.2 Middle East and Africa Wind Turbine Drivetrain Market Forecasts and Analysis
10.4.3 Middle East and Africa Wind Turbine Drivetrain Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Wind Turbine Drivetrain Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Wind Turbine Drivetrain Market Forecasts and Analysis - By Capacity
10.4.6 Middle East and Africa Wind Turbine Drivetrain Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Wind Turbine Drivetrain Market
10.4.6.1.1 South Africa Wind Turbine Drivetrain Market by Type
10.4.6.1.2 South Africa Wind Turbine Drivetrain Market by Application
10.4.6.1.3 South Africa Wind Turbine Drivetrain Market by Capacity
10.4.6.2 Saudi Arabia Wind Turbine Drivetrain Market
10.4.6.2.1 Saudi Arabia Wind Turbine Drivetrain Market by Type
10.4.6.2.2 Saudi Arabia Wind Turbine Drivetrain Market by Application
10.4.6.2.3 Saudi Arabia Wind Turbine Drivetrain Market by Capacity
10.4.6.3 U.A.E Wind Turbine Drivetrain Market
10.4.6.3.1 U.A.E Wind Turbine Drivetrain Market by Type
10.4.6.3.2 U.A.E Wind Turbine Drivetrain Market by Application
10.4.6.3.3 U.A.E Wind Turbine Drivetrain Market by Capacity
10.4.6.4 Rest of Middle East and Africa Wind Turbine Drivetrain Market
10.4.6.4.1 Rest of Middle East and Africa Wind Turbine Drivetrain Market by Type
10.4.6.4.2 Rest of Middle East and Africa Wind Turbine Drivetrain Market by Application
10.4.6.4.3 Rest of Middle East and Africa Wind Turbine Drivetrain Market by Capacity
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Wind Turbine Drivetrain Market Overview
10.5.2 South and Central America Wind Turbine Drivetrain Market Forecasts and Analysis
10.5.3 South and Central America Wind Turbine Drivetrain Market Forecasts and Analysis - By Type
10.5.4 South and Central America Wind Turbine Drivetrain Market Forecasts and Analysis - By Application
10.5.5 South and Central America Wind Turbine Drivetrain Market Forecasts and Analysis - By Capacity
10.5.6 South and Central America Wind Turbine Drivetrain Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Wind Turbine Drivetrain Market
10.5.6.1.1 Brazil Wind Turbine Drivetrain Market by Type
10.5.6.1.2 Brazil Wind Turbine Drivetrain Market by Application
10.5.6.1.3 Brazil Wind Turbine Drivetrain Market by Capacity
10.5.6.2 Argentina Wind Turbine Drivetrain Market
10.5.6.2.1 Argentina Wind Turbine Drivetrain Market by Type
10.5.6.2.2 Argentina Wind Turbine Drivetrain Market by Application
10.5.6.2.3 Argentina Wind Turbine Drivetrain Market by Capacity
10.5.6.3 Rest of South and Central America Wind Turbine Drivetrain Market
10.5.6.3.1 Rest of South and Central America Wind Turbine Drivetrain Market by Type
10.5.6.3.2 Rest of South and Central America Wind Turbine Drivetrain Market by Application
10.5.6.3.3 Rest of South and Central America Wind Turbine Drivetrain 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. WIND TURBINE DRIVETRAIN MARKET, KEY COMPANY PROFILES
12.1. GENERAL ELECTRIC
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. ENERCON GMBH
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. ZF FRIEDRICHSHAFEN AG
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. FLENDER
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. SIEMENS GAMESA RENEWABLE ENERGY, S.A.
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. NANJING HIGH SPEED AND ACCURATE GEAR GROUP CO., LTD.
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. SENVION GMBH
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. EICKHOFF ANTRIEBSTECHNIK GMBH
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. ISHIBASHI MANUFACTURING CO., LTD.
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. BOSCH REXROTH AG
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
- General Electric
- ENERCON GmbH
- ZF Friedrichshafen AG
- Flender
- Siemens Gamesa Renewable Energy, S.A.
- Nanjing High Speed and Accurate Gear Group Co., Ltd.
- Senvion GmbH
- Eickhoff Antriebstechnik GmbH
- ISHIBASHI Manufacturing Co., Ltd.
- Bosch Rexroth AG
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.
Get Free Sample For