Bearing Steel Market Size, Trends & Forecast to 2028
[Research Report] The bearing steel market size is expected to grow from US$ 6,824.25 million in 2022 to US$ 8,476.80 million by 2028; it is estimated to register a CAGR of 3.7% from 2022 to 2028.
Bearing steel is a special steel featuring high wear resistance and rolling fatigue strength. High-carbon chromium bearing steel, engineering steel, and some types of stainless steel and heat-resistant steel are used as bearing materials. The growing demand for bearings from the automotive industry and the development of durable and smart bearings are the major factors driving the market.
Asia Pacific held the largest revenue share of the global bearing steel market in 2022. Asia Pacific is home to significant semiconductor and automotive companies, including Samsung Electronics Co., Ltd.; Sony Group Corporation; SK Hynix Inc.; Toyota Motor Corporation; Tata Motors Ltd.; Hyundai Motor Company; Nissan Motor Co., Ltd.; and Honda Motor Co., Ltd. Bearing steel is widely used in electric motors in automotive and industrial machinery as it shows various properties such as long service life, capability to withstand low and high pressure, and cost efficiency. According to a report published by the China Passenger Car Association, in 2022, Tesla Inc delivered 83,135 made-in-China electric vehicles, indicating growth in sales of electric vehicles from 2021. As per the International Organization of Motor Vehicle Manufacturers report, in 2021, motor vehicle production in Asia Pacific was ~46.73 million units. Thus, the growing automotive industry in Asia Pacific is expected to create favorable business opportunities for the bearing steel market in the region during the forecast period.
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Bearing Steel Market: Strategic Insights
Market Size Value in US$ 6,824.25 million in 2022 Market Size Value by US$ 8,476.80 million by 2028 Growth rate CAGR of 3.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Bearing Steel Market: Strategic Insights
| Market Size Value in | US$ 6,824.25 million in 2022 |
| Market Size Value by | US$ 8,476.80 million by 2028 |
| Growth rate | CAGR of 3.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Bearing Steel Market
Before the emergence of the COVID-19 outbreak, the bearing steel market was growing due to the increasing use of bearings in energy & power, industrial machinery, automotive, electrical & electronics, and aerospace industries. However, the COVID-19 pandemic hampered the growth of the chemicals & materials sector, thus, hindering the growth of the bearing steel market. Implementation of measures to combat the spread of SARS-CoV-2 negatively impacted the growth of various industries. Manufacturers experienced delays and increased costs of imported raw materials due to the long-term shutdown of many factories. The damage caused by the impact of the pandemic on end-use industries hampered the demand for bearing steel.
In 2021, the global marketplace started recovering from the losses caused due to the COVID-19 pandemic, as governments of different countries announced relaxation in the restrictions. Manufacturers were permitted to operate at full capacity, which helped them to overcome the supply-demand gap. This positively impacted the bearing steel market growth in the post-pandemic scenario.
Market Insights
Growing Demand for Bearings from Automotive Industry to Escalate Bearing Steel Market Growth
Bearings are a vital component of automotive parts and are commonly used in engines, generators, motors, wheels, gearboxes, transmission shafts, steering shafts, and steering gears. Their load-carrying characteristics and ability to facilitate torque transfer improve the overall performance of rotating parts in an automotive system. Based on the specific application, the performance of bearings can be enhanced by the correct selection of bearing steel, technology, and lubrication while manufacturing. Carbon steel and stainless steel are widely used to manufacture bearings. Moreover, manufacturers are utilizing new raw materials, such as lightweight steel alloys, to fulfill automotive companies' demand for lightweight materials. Using lightweight materials also allows them to keep up with the changing emission norms.
Type-Based Insights
Based on type, the global bearing steel market is segmented into carbon steel, stainless steel, and others. Carbon steel is an alloy of carbon (up to 2.1% by weight), iron, and other elements. Carbon steel offers optimum strength, load capacity, ductility, and weldability. It provides long service life due to its high strength-to-wear ratio. Carbon steel is used to manufacture semi-precision or commercial-grade bearings and bearing components. Carbon steel used for bearing requires oil and grease application, as it lacks corrosion resistance. Therefore, it is used to produce bearings required for rolling draws, shopping carts, bikes, roller skates, locks, and other applications where bearing lubrication does not affect the industrial process.
Ovako AB, Dongbei Special Steel Group Co Ltd, Ezm Edelstahlzieherei Mark Gmbh, Fushun Special Steel Co Ltd, Hbis Group Co Ltd, Saarstahl AG, Kobe Steel Ltd, Baosteel Group Corp, Benxi Iron and Steel Group Co Ltd, and Sanyo Special Steel Co Ltd are among the key players operating in the global bearing steel market. Market players focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as investments in research and development, new product launches, and production capacity expansion.
Bearing Steel Market Report Scope
Report Spotlights
- Progressive industry trends in the bearing steel market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the bearing steel market from 2020 to 2028
- Estimation of global demand for bearing steel
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the bearing steel market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The bearing steel market size at various nodes
- Detailed overview and segmentation of the market, as well as the bearing steel industry dynamics
- The bearing steel market size in various regions with promising growth opportunities
Global Bearing Steel Market - Segmentation
Based on type, the global bearing steel market is segmented into carbon steel, stainless steel, and others. Based on end use, the bearing steel market is segmented into energy and power, industrial machinery, automotive, electrical and electronics, aerospace, and others.
Company Profiles
- Ovako AB
- Dongbei Special Steel Group Co Ltd
- Ezm Edelstahlzieherei Mark Gmbh
- Fushun Special Steel Co Ltd
- Hbis Group Co Ltd
- Saarstahl AG
- Kobe Steel Ltd
- Baosteel Group Corp
- Benxi Iron And Steel Group Co Ltd
- Sanyo Special Steel Co Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global bearing steel market is primarily driven by the growing demand for bearings from the automotive industry and the development of durable and smart bearings.
Europe is estimated to register the fastest CAGR in the global bearing steel market over the forecast period. In Europe, there is an increasing utilization of bearing steel in excavators, loaders, dozers, dump trucks, graders, cranes, and forklifts in the construction sector. Moreover, the surge in investments by governments of various countries in Europe and private companies in infrastructure building & construction projects is anticipated to fuel the bearing steel market growth in Europe during the forecast period.
The automotive segment held the largest share of the global bearing steel market in 2022. In the automotive industry, steel-based bearings have end uses in various components, namely, wheels, electric motors, steering columns, driveshafts, engines, and automotive transmission systems.
In 2022, Asia Pacific held the largest share of the global bearing steel market. The growing automotive industry in the Asia Pacific is a major driving factor for the bearing steel market.
The carbon steel segment held the largest share of the global bearing steel market in 2022. Carbon steel offers optimum strength, load capacity, ductility, and weldability. It provides long service life due to its high strength-to-wear ratio. Carbon steel is used to manufacture semi-precision or commercial-grade bearings and bearing components.
Major players operating in the global bearing steel market include Ovako AB, Dongbei Special Steel Group Co Ltd, Ezm Edelstahlzieherei Mark Gmbh, Fushun Special Steel Co Ltd, Hbis Group Co Ltd, Saarstahl AG, Kobe Steel Ltd, Baosteel Group Corp, Benxi Iron And Steel Group Co Ltd, and Sanyo Special Steel Co Ltd.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Bearing Steel Market – By Type
1.3.2 Global Bearing Steel Market – By End Use
1.3.3 Global Bearing Steel Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Bearing Steel Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Buyers:
4.2.3 Bargaining Power of Suppliers:
4.2.4 Intensity of Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis: Bearing Steel Market
4.3.1 Mining & Refinery:
4.3.2 Bearing Steel Manufacturers:
4.3.3 Bearing Manufacturers:
4.3.4 Distributors/Suppliers:
4.3.5 End Use Industries:
4.4 Expert Opinions
5. Bearing Steel Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Bearings from Automotive Industry
5.1.2 Development of Durable and Smart Bearings
5.2 Market Restraints
5.2.1 Use of Polymer and Ceramic Ball Bearings as Alternatives
5.3 Market Opportunities
5.3.1 Surge in Demand for High-Efficiency Bearings
5.4 Future Trends
5.4.1 Strategic Developments by Bearing Manufacturers
5.5 Impact Analysis
6. Bearing Steel – Global Market Analysis
6.1 Global Bearing Steel Market Overview
6.2 Bearing Steel Market Forecast and Analysis
6.3 Market Positioning – Key Market Players
7. Global Bearing Steel Market Analysis – By Type
7.1 Overview
7.2 Bearing Steel Market, By Type (2021 and 2028)
7.3 Carbon Steel
7.3.1 Overview
7.3.2 Carbon Steel: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
7.3.3 Carbon Steel: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Stainless Steel
7.4.1 Overview
7.4.2 Stainless Steel: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
7.4.3 Stainless Steel: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
7.5.3 Others: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Mn)
8. Bearing Steel Market Analysis – End Use
8.1 Overview
8.2 Bearing Steel Market, By End Use (2021 and 2028)
8.2.1 Global Bearing Steel Market, by End Use– Revenue and Forecast to 2028 (US$ Million)
8.3 Energy and Power
8.3.1 Overview
8.3.2 Energy and Power: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Industrial Machinery
8.4.1 Overview
8.4.2 Industrial Machinery: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Automotive
8.5.1 Overview
8.5.2 Automotive: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Electrical and Electronics
8.6.1 Overview
8.6.2 Electrical and Electronics: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Aerospace
8.7.1 Overview
8.7.2 Aerospace Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
9. Global Bearing Steel Market – Geographic Analysis
9.1 Overview
9.2 North America: Bearing Steel Market
9.2.1 North America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.2.2 North America: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.2.3 North America: Bearing Steel Market, by Type
9.2.4 North America: Bearing Steel Market, by End Use
9.2.5 North America: Bearing Steel Market, by Key Country
9.2.5.1 US: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.2.5.2 US: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.2.5.2.1 US: Bearing Steel Market, by Type
9.2.5.2.2 US: Bearing Steel Market, by Type
9.2.5.2.3 US: Bearing Steel Market, by End Use
9.2.5.3 Canada: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.2.5.4 Canada: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.2.5.4.1 Canada: Bearing Steel Market, by Type
9.2.5.4.2 Canada: Bearing Steel Market, by Type
9.2.5.4.3 Canada: Bearing Steel Market, by End Use
9.2.5.5 Mexico: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.2.5.6 Mexico: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.2.5.6.1 Mexico: Bearing Steel Market, by Type
9.2.5.6.2 Mexico: Bearing Steel Market, by Type
9.2.5.6.3 Mexico: Bearing Steel Market, by End Use
9.3 Europe: Bearing Steel Market
9.3.1 Europe: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.3.2 Europe: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.3.3 Europe: Bearing Steel Market, by Type
9.3.4 Europe: Bearing Steel Market, by End Use
9.3.5 Europe: Bearing Steel Market, by Key Country
9.3.5.1 Germany: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.3.5.2 Germany: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.3.5.2.1 Germany: Bearing Steel Market, by Type
9.3.5.2.2 Germany: Bearing Steel Market, by Type
9.3.5.2.3 Germany: Bearing Steel Market, by End Use
9.3.5.3 France: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.3.5.4 France: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.3.5.4.1 France: Bearing Steel Market, by Type
9.3.5.4.2 France: Bearing Steel Market, by Type
9.3.5.4.3 France: Bearing Steel Market, by End Use
9.3.5.5 Italy: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.3.5.6 Italy: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.3.5.6.1 Italy: Bearing Steel Market, by Type
9.3.5.6.2 Italy: Bearing Steel Market, by Type
9.3.5.6.3 Italy: Bearing Steel Market, by End Use
9.3.5.7 United Kingdom: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.3.5.8 United Kingdom: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.3.5.8.1 United Kingdom: Bearing Steel Market, by Type
9.3.5.8.2 United Kingdom: Bearing Steel Market, by Type
9.3.5.8.3 United Kingdom: Bearing Steel Market, by End Use
9.3.5.9 Russia: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
9.3.5.10 Russia: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
9.3.5.10.1 Russia: : Bearing Steel Market, by Type
9.3.5.10.2 Russia: : Bearing Steel Market, by Type
9.3.5.10.3 Russia: : Bearing Steel Market, by End Use
9.3.5.11 Rest of Europe: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.3.5.12 Rest of Europe: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.3.5.12.1 Rest of Europe: Bearing Steel Market, by Type
9.3.5.12.2 Rest of Europe: Bearing Steel Market, by Type
9.3.5.12.3 Rest of Europe: Bearing Steel Market, by End Use
9.4 Asia Pacific: Bearing Steel Market
9.4.1 Asia Pacific: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.4.2 Asia Pacific: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.3 Asia Pacific: Bearing Steel Market, by Type
9.4.4 Asia Pacific: Bearing Steel Market, by End Use
9.4.5 Asia Pacific: Bearing Steel Market, by Key Country
9.4.5.1 Australia: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.4.5.2 Australia: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.5.2.1 Australia: Bearing Steel Market, by Type
9.4.5.2.2 Australia: Bearing Steel Market, by Type
9.4.5.2.3 Australia: Bearing Steel Market, by End Use
9.4.5.3 China: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.4.5.4 China: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.5.4.1 China: Bearing Steel Market, by Type
9.4.5.4.2 China: Bearing Steel Market, by Type
9.4.5.4.3 China: Bearing Steel Market, by End Use
9.4.5.5 India: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.4.5.6 India: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.5.6.1 India: Bearing Steel Market, by Type
9.4.5.6.2 India: Bearing Steel Market, by Type
9.4.5.6.3 India: Bearing Steel Market, by End Use
9.4.5.7 Japan: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.4.5.8 Japan: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.5.8.1 Japan: Bearing Steel Market, by Type
9.4.5.8.2 Japan: Bearing Steel Market, by Type
9.4.5.8.3 Japan: Bearing Steel Market, by End Use
9.4.5.9 South Korea: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.4.5.10 South Korea: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.5.10.1 South Korea: Bearing Steel Market, by Type
9.4.5.10.2 South Korea: Bearing Steel Market, by Type
9.4.5.10.3 South Korea: Bearing Steel Market, by End Use
9.4.5.11 Rest of Asia Pacific: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
9.4.5.12 Rest of Asia Pacific: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.4.5.12.1 Rest of Asia Pacific: Bearing Steel Market, by Type
9.4.5.12.2 Rest of Asia Pacific: Bearing Steel Market, by Type
9.4.5.12.3 Rest of Asia Pacific: Bearing Steel Market, by End Use
9.5 Middle East & Africa: Bearing Steel Market
9.5.1 Middle East & Africa: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.5.2 Middle East & Africa: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.5.3 Middle East & Africa: Bearing Steel Market, by Type
9.5.4 Middle East & Africa: Bearing Steel Market, by End Use
9.5.5 Middle East & Africa: Bearing Steel Market, by Key Country
9.5.5.1 South Africa: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.5.5.2 South Africa: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.5.5.2.1 South Africa: Bearing Steel Market, by Type
9.5.5.2.2 South Africa: Bearing Steel Market, by Type
9.5.5.2.3 South Africa: Bearing Steel Market, by End Use
9.5.5.3 Saudi Arabia: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.5.5.4 Saudi Arabia: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.5.5.4.1 Saudi Arabia: Bearing Steel Market, by Type
9.5.5.4.2 Saudi Arabia: Bearing Steel Market, by Type
9.5.5.4.3 Saudi Arabia: Bearing Steel Market, by End Use
9.5.5.5 UAE: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.5.5.6 UAE: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.5.5.6.1 UAE: Bearing Steel Market, by Type
9.5.5.6.2 UAE: Bearing Steel Market, by Type
9.5.5.6.3 UAE: Bearing Steel Market, by End Use
9.5.5.7 Rest of MEA: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.5.5.8 Rest of MEA: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.5.5.8.1 Rest of MEA: Bearing Steel Market, by Type
9.5.5.8.2 Rest of MEA: Bearing Steel Market, by Type
9.5.5.8.3 Rest of MEA: Bearing Steel Market, by End Use
9.6 South & Central America: Bearing Steel Market
9.6.1 South & Central America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.6.2 South & Central America: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.6.3 South & Central America: Bearing Steel Market, by Type
9.6.4 South & Central America: Bearing Steel Market, by End Use
9.6.5 South & Central America: Bearing Steel Market, by Key Country
9.6.5.1 Brazil: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.6.5.2 Brazil: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.6.5.2.1 Brazil: Bearing Steel Market, by Type
9.6.5.2.2 Brazil: Bearing Steel Market, by Type
9.6.5.2.3 Brazil: Bearing Steel Market, by End Use
9.6.5.3 Argentina: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.6.5.4 Argentina: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.6.5.4.1 Argentina: Bearing Steel Market, by Type
9.6.5.4.2 Argentina: Bearing Steel Market, by Type
9.6.5.4.3 Argentina: Bearing Steel Market, by End Use
9.6.5.5 Rest of South & Central America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.6.5.6 Rest of South & Central America: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.6.5.6.1 Rest of South & Central America: Bearing Steel Market, by Type
9.6.5.6.2 Rest of South & Central America: Bearing Steel Market, by Type
9.6.5.6.3 Rest of South & Central America: Bearing Steel Market, by End Use
10. Impact of COVID-19
10.1 Overview
10.2 Impact of COVID-19 on Bearing Steel Market
10.3 North America: Impact Assessment of COVID-19 Pandemic
10.4 Europe: Impact Assessment of COVID-19 Pandemic
10.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.7 South & Central America: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Ovako AB
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 Dongbei Special Steel Group Co Ltd
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 EZM Edelstahlzieherei Mark GmbH
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 Fushun Special Steel Co Ltd
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 HBIS Group Co Ltd
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 Saarstahl AG
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 Kobe Steel Ltd
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 Baosteel Group Corp
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 Benxi Iron and Steel Group Co Ltd
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
11.10 Sanyo Special Steel Co Ltd
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Global Bearing Steel Market Revenue Forecast to 2028 (US$ Mn)
Table 2. Global Bearing Steel Market, by Type– Volume and Forecast to 2028 (Kilo Tons)
Table 3. Global Bearing Steel Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 4. Global Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (USD Million)
Table 5. North America Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 6. North America Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. North America Bearing Steel Market, by End Use– Revenue and Forecast to 2028 (US$ Million)
Table 8. US Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 9. US Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. US Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 12. Canada: Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Canada Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 15. Mexico Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. Mexico Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 17. Europe Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 18. Europe Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Europe Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 20. Germany Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 21. Germany Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 22. Germany Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 23. France Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 24. France Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. France Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 26. Italy Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 27. Italy Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 28. Italy Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 29. United Kingdom Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 30. United Kingdom Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 31. United Kingdom Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 32. Russia : Bearing Steel Market, by Type– Volume and Forecast to 2028 (Kilo Tons)
Table 33. Russia : Bearing Steel Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 34. Russia : Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Europe Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 36. Rest of Europe Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 37. Rest of Europe Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 38. Asia Pacific Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 39. Asia Pacific Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 40. Asia Pacific Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 41. Australia Bearing Steel Market, by Type– Volume and Forecast to 2028 (Kilo Tons)
Table 42. Australia Bearing Steel Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 43. Australia Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 44. China Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 45. China Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 46. China Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 47. India Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 48. India Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 49. India Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 50. Japan Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 51. Japan Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 52. Japan Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 53. South Korea Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 54. South Korea Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 55. South Korea Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 56. Rest of Asia Pacific Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 57. Rest of Asia Pacific Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 58. Rest of Asia Pacific Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 59. Middle East & Africa Bearing Steel Market, by Type– Volume and Forecast to 2028 (Kilo Tons)
Table 60. Middle East & Africa Bearing Steel Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 61. Middle East & Africa Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 62. South Africa Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 63. South Africa Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 64. South Africa Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 65. Saudi Arabia Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 66. Saudi Arabia Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 67. Saudi Arabia Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 68. UAE Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 69. UAE Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 70. UAE Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 71. Rest of MEA Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 72. Rest of MEA Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 73. Rest of MEA Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 74. South & Central America Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 75. South & Central America Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 76. South & Central America Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 77. Brazil Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 78. Brazil Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 79. Brazil Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 80. Argentina Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 81. Argentina Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 82. Argentina Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 83. Rest of South & Central America Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 84. Rest of South & Central America Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 85. Rest of South & Central America Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 86. Glossary of Terms, Global Bearing Steel Market
LIST OF FIGURES
Figure 1. Bearing Steel Market Segmentation
Figure 2. Bearing Steel Market Segmentation – By Region
Figure 3. Global Bearing Steel Market Overview
Figure 4. Carbon Steel segment holds the largest share
Figure 5. Asia Pacific Held Largest Share of Bearing Steel Market in 2021
Figure 6. Global Bearing Steel Market, Industry Landscape
Figure 7. Porter's Five Forces Analysis
Figure 8. Ecosystem: Bearing Steel Market
Figure 9. Expert Opinion
Figure 10. Global Bearing Steel Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Bearing Steel Market
Figure 12. Global Bearing Steel Market Forecast and Analysis, 2020–2028 (US$ Mn)
Figure 13. Bearing Steel Market Revenue Share, By Type (2021 and 2028)
Figure 14. Carbon Steel: Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 15. Carbon Steel: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Stainless Steel: Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 17. Stainless Steel: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Others: Bearing Steel Market – Volume and Forecast To 2028 (Tons)
Figure 19. Others: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Bearing Steel Market Revenue Share, By End Use (2021 and 2028)
Figure 21. Energy and Power: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. Transportation: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 23. Industrial End Uses: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 24. Electrical and Electronics: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Aerospace: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26. Others: Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 27. Global Bearing Steel Market Revenue Share, by Region (2021 and 2028)
Figure 28. North America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 29. North America: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America: Bearing Steel Market Revenue Share, by Type (2021 and 2028)
Figure 31. North America: Bearing Steel Market Revenue Share, by End Use (2021 and 2028)
Figure 32. North America: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)
Figure 33. US: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 34. US: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 35. Canada: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 36. Canada: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 37. Mexico: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 38. Mexico: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 39. Europe: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 40. Europe: Bearing Steel Market– Revenue and Forecast to 2028 (US$ Million)
Figure 41. Europe: Bearing Steel Market Revenue Share, by Type (2021 and 2028)
Figure 42. Europe: Bearing Steel Market Revenue Share, by End Use (2021 and 2028)
Figure 43. Europe: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)
Figure 44. Germany: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 45. Germany: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 46. France: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 47. France: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 48. Italy: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 49. Italy: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 50. United Kingdom: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 51. United Kingdom: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 52. Russia: Bearing Steel Market– Volume and Forecast to 2028 (Kilo Tons)
Figure 53. Russia: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)
Figure 54. Rest of Europe: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 55. Rest of Europe: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 56. Asia Pacific: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 57. Asia Pacific: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 58. Asia Pacific: Bearing Steel Market Revenue Share, by Type (2021 and 2028)
Figure 59. Asia Pacific: Bearing Steel Market Revenue Share, by End Use (2021 and 2028)
Figure 60. Asia Pacific: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)
Figure 61. Australia: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 62. Australia: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 63. China: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 64. China: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 65. India: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 66. India: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 67. Japan: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 68. Japan: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 69. South Korea: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 70. South Korea: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 71. Rest of Asia Pacific: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 72. Rest of Asia Pacific: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 73. Middle East & Africa: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 74. Middle East & Africa: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 75. Middle East & Africa: Bearing Steel Market Revenue Share, by Type (2021 and 2028)
Figure 76. Middle East & Africa: Bearing Steel Market Revenue Share, by End Use (2021 and 2028)
Figure 77. Middle East & Africa: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)
Figure 78. South Africa: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 79. South Africa: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 80. Saudi Arabia: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 81. Saudi Arabia: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 82. UAE: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 83. UAE: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 84. Rest of MEA: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 85. Rest of MEA: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 86. South & Central America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 87. South & Central America: Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 88. South & Central America: Bearing Steel Market Revenue Share, by Type (2021 and 2028)
Figure 89. South & Central America: Bearing Steel Market Revenue Share, by End Use (2021 and 2028)
Figure 90. South & Central America: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)
Figure 91. Brazil: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 92. Brazil: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 93. Argentina: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 94. Argentina: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 95. Rest of South & Central America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 96. Rest of South & Central America: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 97. Impact of COVID-19 Pandemic on Bearing Steel Market in North America
Figure 98. Impact of COVID-19 Pandemic on Bearing Steel Market in Europe
Figure 99. Impact of COVID-19 Pandemic on Bearing Steel Market in Asia Pacific
Figure 100. Impact of COVID-19 Pandemic on Bearing Steel Market in Middle East & Africa
Figure 101. Impact of COVID-19 Pandemic on Bearing Steel Market in South & Central America
The List of Companies - Bearing Steel Market
- Ovako AB
- Dongbei Special Steel Group Co Ltd
- Ezm Edelstahlzieherei Mark Gmbh
- Fushun Special Steel Co Ltd
- Hbis Group Co Ltd
- Saarstahl AG
- Kobe Steel Ltd
- Baosteel Group Corp
- Benxi Iron And Steel Group Co Ltd
- Sanyo Special Steel Co Ltd.
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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