The Bonded Magnet Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by product type (rare-earth bonded magnets, ferrite bonded magnets and hybrid bonded magnets). The report further presents analysis based on process (compression, injection molding, extrusion and calendering). The report is also segmented by application (automotive and transportation, electrical and electronics, industrial, medical and others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Bonded Magnet Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Bonded Magnet Market Segmentation
Product Type- Rare-Earth Bonded Magnets
- Ferrite Bonded Magnets and Hybrid Bonded Magnets
- Compression
- Injection Molding
- Extrusion and Calendering
Strategic Insights
Bonded Magnet Market Growth Drivers- Increasing demand for electric and hybrid vehicles: Increasing demand for electric and hybrid vehicles is a significant growth driver for the market of bonded magnet. These vehicles use advanced motor systems that involve high-performance magnets for efficient operation. The automotive industry's transition towards electrification will further propel demand for bonded magnet.
- Growth of electrical and electronics sector: Bonded magnets is widely used in the production of electrical and electronics sector growth driver. Such magnets feature prominently in the electronics devices, some of which include sensors, motors, and hard disk drives. Increasing scope of application is thus projected to be one of the significant growth drivers in this industry, as the market is likely to expand over the next few years.
- Growing demand for consumer electronics: Consumer appliances, such as refrigerators, washing machines, and air conditioners, require bonded magnets for production of electric components. The flexible applications and light weight makes the bonded magnet suitable for higher energy efficiency and performance levels in consumer appliances. The growth in consumer demand for energy-efficient appliances is likely to positively influence the market of bonded magnets, further diversifying the scope of growth.
- Transition towards electrification and green economy: The increasing demand for hybrid and electric cars and the transition towards electrification of vehicles is a significant trend in the market. Advanced motor systems in hybrid and electric vehicles requires high-performance magnets.
- Adoption of new production technologies: Manufacturers of bonded magnets are adopting new production technologies to increase the bonded magnets' efficiency and quality. Advanced technologies, including calendaring and injection molding enable magnet properties at a high degree and allow for the production of complex-shaped magnets that can serve the needs of specific applications.
- Strengthening local supply chains: Manufacturers in the bonded magnet market are investing efforts into supply chain resiliency, for instance, diversifying suppliers and integrating with domestic suppliers to reduce dependency on international logistics. By strengthening the local supply chains, companies will be assured of a steady inflow of raw materials, decrease lead times, and thus respond better to changes in the market.
- New product innovations: New products result from innovations in manufacturing processes such as injection molding and calendaring. Thus, improved properties, like greater magnetic strength or thermal stability, can be optimized.
- Growth of electronics industry in emerging economies: It is highly promising with the rising use of bonded magnets in consumer electronics, such as hard disk drives and audio products. Developing specialty bonded magnets, which enhance performance in these applications, leads to successful product launches. The growth of the market for consumer electronics in emerging economies will also boost demand for high-quality bonded magnets, thereby supporting total market growth.
- Rise in the wind energy sector: Bonded magnet market is optimistic about wind energy because wind turbine generators require high-performance magnets for greater efficiency in power conversion. Wind and offshore land use for renewable energy application has globally extended the high demand for magnets able to withstand harsh environmental conditions and last a long time. This, in turn, offers opportunities for manufacturers in creating durable, energy-efficient bonded magnets for wind turbines.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bonded Magnet Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Bonded Magnet Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Additive manufacturing techniques is expected to be the key market trends
Based on geography, Europe held the largest share of the bonded magnet market due to increasing demand for hybrid and electric vehicles
Based on product type, the ferrite-bonded magnets segment is expected to witness the fastest growth during the forecast period
Advanced Technology and Materials Co Ltd; Evitron; Stanford Magnets; Allstar Magnetics; Hitachi Metals Ltd are some of the key players operating in the bonded magnet market
Rising demand in eletric vehicles and technological advancement in manufacturing processes is driving the market growth
The Bonded Magnet Market is estimated to witness a CAGR of 6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bonded Magnet Market - By Product Type
1.3.2 Bonded Magnet Market - By Process
1.3.3 Bonded Magnet Market - By Application
1.3.4 Bonded Magnet Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BONDED MAGNET MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BONDED MAGNET 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. BONDED MAGNET MARKET - GLOBAL MARKET ANALYSIS
6.1. BONDED MAGNET - GLOBAL MARKET OVERVIEW
6.2. BONDED MAGNET - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BONDED MAGNET MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. RARE-EARTH BONDED MAGNETS
7.3.1. Overview
7.3.2. Rare-earth Bonded Magnets Market Forecast and Analysis
7.4. FERRITE BONDED MAGNETS
7.4.1. Overview
7.4.2. Ferrite Bonded Magnets Market Forecast and Analysis
7.5. HYBRID BONDED MAGNETS
7.5.1. Overview
7.5.2. Hybrid Bonded Magnets Market Forecast and Analysis
8. BONDED MAGNET MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
8.1. OVERVIEW
8.2. PROCESS MARKET FORECASTS AND ANALYSIS
8.3. COMPRESSION
8.3.1. Overview
8.3.2. Compression Market Forecast and Analysis
8.4. INJECTION MOLDING
8.4.1. Overview
8.4.2. Injection Molding Market Forecast and Analysis
8.5. EXTRUSION
8.5.1. Overview
8.5.2. Extrusion Market Forecast and Analysis
8.6. CALENDERING
8.6.1. Overview
8.6.2. Calendering Market Forecast and Analysis
9. BONDED MAGNET MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE AND TRANSPORTATION
9.3.1. Overview
9.3.2. Automotive and Transportation Market Forecast and Analysis
9.4. ELECTRICAL AND ELECTRONICS
9.4.1. Overview
9.4.2. Electrical and Electronics Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
9.6. MEDICAL
9.6.1. Overview
9.6.2. Medical Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. BONDED MAGNET MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Bonded Magnet Market Overview
10.1.2 North America Bonded Magnet Market Forecasts and Analysis
10.1.3 North America Bonded Magnet Market Forecasts and Analysis - By Product Type
10.1.4 North America Bonded Magnet Market Forecasts and Analysis - By Process
10.1.5 North America Bonded Magnet Market Forecasts and Analysis - By Application
10.1.6 North America Bonded Magnet Market Forecasts and Analysis - By Countries
10.1.6.1 United States Bonded Magnet Market
10.1.6.1.1 United States Bonded Magnet Market by Product Type
10.1.6.1.2 United States Bonded Magnet Market by Process
10.1.6.1.3 United States Bonded Magnet Market by Application
10.1.6.2 Canada Bonded Magnet Market
10.1.6.2.1 Canada Bonded Magnet Market by Product Type
10.1.6.2.2 Canada Bonded Magnet Market by Process
10.1.6.2.3 Canada Bonded Magnet Market by Application
10.1.6.3 Mexico Bonded Magnet Market
10.1.6.3.1 Mexico Bonded Magnet Market by Product Type
10.1.6.3.2 Mexico Bonded Magnet Market by Process
10.1.6.3.3 Mexico Bonded Magnet Market by Application
10.2. EUROPE
10.2.1 Europe Bonded Magnet Market Overview
10.2.2 Europe Bonded Magnet Market Forecasts and Analysis
10.2.3 Europe Bonded Magnet Market Forecasts and Analysis - By Product Type
10.2.4 Europe Bonded Magnet Market Forecasts and Analysis - By Process
10.2.5 Europe Bonded Magnet Market Forecasts and Analysis - By Application
10.2.6 Europe Bonded Magnet Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Bonded Magnet Market
10.2.6.1.1 Germany Bonded Magnet Market by Product Type
10.2.6.1.2 Germany Bonded Magnet Market by Process
10.2.6.1.3 Germany Bonded Magnet Market by Application
10.2.6.2 France Bonded Magnet Market
10.2.6.2.1 France Bonded Magnet Market by Product Type
10.2.6.2.2 France Bonded Magnet Market by Process
10.2.6.2.3 France Bonded Magnet Market by Application
10.2.6.3 Italy Bonded Magnet Market
10.2.6.3.1 Italy Bonded Magnet Market by Product Type
10.2.6.3.2 Italy Bonded Magnet Market by Process
10.2.6.3.3 Italy Bonded Magnet Market by Application
10.2.6.4 United Kingdom Bonded Magnet Market
10.2.6.4.1 United Kingdom Bonded Magnet Market by Product Type
10.2.6.4.2 United Kingdom Bonded Magnet Market by Process
10.2.6.4.3 United Kingdom Bonded Magnet Market by Application
10.2.6.5 Russia Bonded Magnet Market
10.2.6.5.1 Russia Bonded Magnet Market by Product Type
10.2.6.5.2 Russia Bonded Magnet Market by Process
10.2.6.5.3 Russia Bonded Magnet Market by Application
10.2.6.6 Rest of Europe Bonded Magnet Market
10.2.6.6.1 Rest of Europe Bonded Magnet Market by Product Type
10.2.6.6.2 Rest of Europe Bonded Magnet Market by Process
10.2.6.6.3 Rest of Europe Bonded Magnet Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Bonded Magnet Market Overview
10.3.2 Asia-Pacific Bonded Magnet Market Forecasts and Analysis
10.3.3 Asia-Pacific Bonded Magnet Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Bonded Magnet Market Forecasts and Analysis - By Process
10.3.5 Asia-Pacific Bonded Magnet Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Bonded Magnet Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Bonded Magnet Market
10.3.6.1.1 Australia Bonded Magnet Market by Product Type
10.3.6.1.2 Australia Bonded Magnet Market by Process
10.3.6.1.3 Australia Bonded Magnet Market by Application
10.3.6.2 China Bonded Magnet Market
10.3.6.2.1 China Bonded Magnet Market by Product Type
10.3.6.2.2 China Bonded Magnet Market by Process
10.3.6.2.3 China Bonded Magnet Market by Application
10.3.6.3 India Bonded Magnet Market
10.3.6.3.1 India Bonded Magnet Market by Product Type
10.3.6.3.2 India Bonded Magnet Market by Process
10.3.6.3.3 India Bonded Magnet Market by Application
10.3.6.4 Japan Bonded Magnet Market
10.3.6.4.1 Japan Bonded Magnet Market by Product Type
10.3.6.4.2 Japan Bonded Magnet Market by Process
10.3.6.4.3 Japan Bonded Magnet Market by Application
10.3.6.5 South Korea Bonded Magnet Market
10.3.6.5.1 South Korea Bonded Magnet Market by Product Type
10.3.6.5.2 South Korea Bonded Magnet Market by Process
10.3.6.5.3 South Korea Bonded Magnet Market by Application
10.3.6.6 Rest of Asia-Pacific Bonded Magnet Market
10.3.6.6.1 Rest of Asia-Pacific Bonded Magnet Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Bonded Magnet Market by Process
10.3.6.6.3 Rest of Asia-Pacific Bonded Magnet Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Bonded Magnet Market Overview
10.4.2 Middle East and Africa Bonded Magnet Market Forecasts and Analysis
10.4.3 Middle East and Africa Bonded Magnet Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Bonded Magnet Market Forecasts and Analysis - By Process
10.4.5 Middle East and Africa Bonded Magnet Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Bonded Magnet Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Bonded Magnet Market
10.4.6.1.1 South Africa Bonded Magnet Market by Product Type
10.4.6.1.2 South Africa Bonded Magnet Market by Process
10.4.6.1.3 South Africa Bonded Magnet Market by Application
10.4.6.2 Saudi Arabia Bonded Magnet Market
10.4.6.2.1 Saudi Arabia Bonded Magnet Market by Product Type
10.4.6.2.2 Saudi Arabia Bonded Magnet Market by Process
10.4.6.2.3 Saudi Arabia Bonded Magnet Market by Application
10.4.6.3 U.A.E Bonded Magnet Market
10.4.6.3.1 U.A.E Bonded Magnet Market by Product Type
10.4.6.3.2 U.A.E Bonded Magnet Market by Process
10.4.6.3.3 U.A.E Bonded Magnet Market by Application
10.4.6.4 Rest of Middle East and Africa Bonded Magnet Market
10.4.6.4.1 Rest of Middle East and Africa Bonded Magnet Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Bonded Magnet Market by Process
10.4.6.4.3 Rest of Middle East and Africa Bonded Magnet Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Bonded Magnet Market Overview
10.5.2 South and Central America Bonded Magnet Market Forecasts and Analysis
10.5.3 South and Central America Bonded Magnet Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Bonded Magnet Market Forecasts and Analysis - By Process
10.5.5 South and Central America Bonded Magnet Market Forecasts and Analysis - By Application
10.5.6 South and Central America Bonded Magnet Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Bonded Magnet Market
10.5.6.1.1 Brazil Bonded Magnet Market by Product Type
10.5.6.1.2 Brazil Bonded Magnet Market by Process
10.5.6.1.3 Brazil Bonded Magnet Market by Application
10.5.6.2 Argentina Bonded Magnet Market
10.5.6.2.1 Argentina Bonded Magnet Market by Product Type
10.5.6.2.2 Argentina Bonded Magnet Market by Process
10.5.6.2.3 Argentina Bonded Magnet Market by Application
10.5.6.3 Rest of South and Central America Bonded Magnet Market
10.5.6.3.1 Rest of South and Central America Bonded Magnet Market by Product Type
10.5.6.3.2 Rest of South and Central America Bonded Magnet Market by Process
10.5.6.3.3 Rest of South and Central America Bonded Magnet Market by Application
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. BONDED MAGNET MARKET, KEY COMPANY PROFILES
12.1. ADVANCED TECHNOLOGY AND MATERIALS CO., LTD.
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. ALLIANCE LLC
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. ALLSTAR MAGNETICS
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. ARNOLD MAGNETIC TECHNOLOGIES
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. DEXTER MAGNETIC TECHNOLOGIES
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. EVITRON SP. Z O.O.
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. MAGNEQUENCH INTERNATIONAL, LLC
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. MS-SCHRAMBERG GMBH AND CO. KG
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. RHEINMAGNET HORST BAERMANN GMBH
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. STANFORD MAGNETS
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Advanced Technology and Materials Co., Ltd.
2. Alliance LLC
3. Allstar Magnetics
4. Arnold Magnetic Technologies
5. DEXTER MAGNETIC TECHNOLOGIES
6. Evitron Sp. z o.o.
7. Magnequench International, LLC
8. MS-Schramberg GmbH and Co. KG
9. RHEINMAGNET Horst Baermann GmbH
10. Stanford Magnets
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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