The FRP Grating Market is expected to register a CAGR of 5% 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 resin type (polyester, vinyl ester, phenolic and others). The report further presents analysis based on process type (molded grating and pultruded grating) and end use (stair treads, walkways, platforms and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. 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 FRP Grating 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.
FRP Grating Market Segmentation
Resin Type- Polyester
- Vinyl Ester
- Phenolic and Others
- Molded Grating and Pultruded Grating
- Stair Treads
- Walkways
- Platforms and Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
FRP Grating Market Growth Drivers- Expansion of the Industrial Sector: The expansion of the industrial sector is one of the key supporting factors for the growth of the FRP grating market. For instance, industries like oil & gas, chemical processing, and waste management seek out products that can endure the extreme conditions present. FRP gratings are known for being lightweight, having a high strength-to-weight ratio, and being resistant to corrosion and chemicals. With the growing scope of industries, it can be predicted that the demand for FRP grating in the construction of walkways, platforms, and stair treads will grow significantly.
- Stringent Workplace Safety Regulations: The industries are constantly evolving and developing. More demand is being placed on them in designing and making workplaces which in turn is leading to a more serious use of workplace safety enhancing materials. This is because FRP grating is slip resistant and non-conductive which makes it suitable even in places where the risks are high. Safety standards are increasing in many industries, which is positive for the use of FRP grating in building, maritime and food safety operations where safety is primary.
- Adopting Environmentally Conscious Production Practices: The progressive move towards adopting environmentally conscious practices tend to affect the choice of materials used in various sectors. Most of the times, FRP grating is considered a more eco-friendly material than the commonly used steel and timber, because of its ease of manufacturing and durability. Moreover, its nontoxicity to environmental elements prevents premature damage from the environmental elements which again helps in less environmental pollution. Such social ecological consciousness is propelling use of FRP grating materials in many applications.
- Adoption of New Production Technologies: Improvements in manufacturing techniques such as pultrusion and molding methods are also improving FRP grating's efficiency of production and quality. These make it possible to design and manufacture a wider variety of shapes and dimensions to suit application requirements. Moreover, enhanced manufacturing developments result in improved properties of the materials, particularly strength and durability, rendering FRP grating less undesirable to the final consumers.
- Preference for Customization: There is an increased demand for customization of FRP grating products in accordance with the requirements of various industries. Straightforward problem solving is being provided by manufacturers who now supply these products specifically meeting the needs of each industry. That includes a difference in resins, colours and textures of the surface, which allows the client to choses those products which fit in the most into their work and design.
- Growing Use of Smart Feature in the Systems Built up with FRP Gratings: The growing use of smart feature in the systems built up with FRP gratings is also a recent development. This includes embedding the sensors which measure the structural health and environmental parameters. Such innovations make it possible to maintain the installed grating without the needs for inspection or demounting and increase safety as information about the grating’s status is provided continuously. As industries become more connected, demand for smart grating systems made of FRP is expected to rise.
- Growth in the Developing Regions: The FRP grating industry is expected to see the highest growth potential in the developing nations experiencing the increasing levels of industrialization. More and more countries in the Asia Pacific region, Latin America, and Africa are in the phase of growing infrastructural development and thus, there is the need for strong and lightweight products such as FRP grating. This offers an opportunity for the relevant organizations to set foot in these countries and localize their product offering in such a way that it suits the local markets.
- Collaborations with Industry Participants: Forging collaborations with industry leaders in different sectors contributes to a wider market as well as a range of products. For instance, alliances with construction companies, production plants, and safety groups can help in creating custom-made FRP grating materials that fulfill certain requirements. Corresponding relationships can also encourage the sharing of ideas and the efficient use of resources, thus boosting the prospects of the market.
- Growing Investments in R&D: Through appropriate funding and implementation, research and development (R&D) would also embrace the design of more sophisticated FRP grating materials. This involves looking into possibilities of making resins that can withstand the hottest and coldest conditions or using eco-friendly raw materials. Research and development (R&D) is a key focus for many firms and one that enables them to stand out from competitors and keep pace with changing consumer needs.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the FRP Grating 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 FRP Grating 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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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
Innovations in manufacturing processes is expected to be the key market trends
Based on process type, molded grating segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the significant share of the FRP grating market due to growth in the industrial applications such as oil and gas, chemical processing and wastewater treatment
Growing demand in the industrial applications is drivng the market growth
AGC Matex Co Ltd; Eurograte Fiberglass Grating; Ferrotech International FZE; Locker Group; National Grating are some of the key players operating in the FRP grating market
The FRP Grating Market is estimated to witness a CAGR of 5% 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 FRP Grating Market - By Process
1.3.2 FRP Grating Market - By Resin Type
1.3.3 FRP Grating Market - By Application
1.3.4 FRP Grating Market - By End-Use Industry
1.3.5 FRP Grating Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FRP GRATING 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. FRP GRATING 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FRP GRATING MARKET - GLOBAL MARKET ANALYSIS
6.1. FRP GRATING - GLOBAL MARKET OVERVIEW
6.2. FRP GRATING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FRP GRATING MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
7.1. OVERVIEW
7.2. PROCESS MARKET FORECASTS AND ANALYSIS
7.3. MOLDED FRP GRATING
7.3.1. Overview
7.3.2. Molded FRP Grating Market Forecast and Analysis
7.4. PULTRUDED FRP GRATING
7.4.1. Overview
7.4.2. Pultruded FRP Grating Market Forecast and Analysis
8. FRP GRATING MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
8.1. OVERVIEW
8.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
8.3. POLYESTER RESIN
8.3.1. Overview
8.3.2. Polyester Resin Market Forecast and Analysis
8.4. VINYL ESTER RESIN
8.4.1. Overview
8.4.2. Vinyl Ester Resin Market Forecast and Analysis
8.5. PHENOLIC RESIN
8.5.1. Overview
8.5.2. Phenolic Resin Market Forecast and Analysis
8.6. OTHER RESINS
8.6.1. Overview
8.6.2. Other Resins Market Forecast and Analysis
9. FRP GRATING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. STAIR TREADS
9.3.1. Overview
9.3.2. Stair Treads Market Forecast and Analysis
9.4. WALKWAYS
9.4.1. Overview
9.4.2. Walkways Market Forecast and Analysis
9.5. PLATFORMS
9.5.1. Overview
9.5.2. Platforms Market Forecast and Analysis
9.6. OTHER APPLICATIONS
9.6.1. Overview
9.6.2. Other Applications Market Forecast and Analysis
10. FRP GRATING MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
10.1. OVERVIEW
10.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. INDUSTRIAL
10.3.1. Overview
10.3.2. Industrial Market Forecast and Analysis
10.4. WATER MANAGEMENT
10.4.1. Overview
10.4.2. Water Management Market Forecast and Analysis
10.5. COOLING TOWERS
10.5.1. Overview
10.5.2. Cooling Towers Market Forecast and Analysis
10.6. MARINE
10.6.1. Overview
10.6.2. Marine Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. FRP GRATING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America FRP Grating Market Overview
11.1.2 North America FRP Grating Market Forecasts and Analysis
11.1.3 North America FRP Grating Market Forecasts and Analysis - By Process
11.1.4 North America FRP Grating Market Forecasts and Analysis - By Resin Type
11.1.5 North America FRP Grating Market Forecasts and Analysis - By Application
11.1.6 North America FRP Grating Market Forecasts and Analysis - By End-Use Industry
11.1.7 North America FRP Grating Market Forecasts and Analysis - By Countries
11.1.7.1 United States FRP Grating Market
11.1.7.1.1 United States FRP Grating Market by Process
11.1.7.1.2 United States FRP Grating Market by Resin Type
11.1.7.1.3 United States FRP Grating Market by Application
11.1.7.1.4 United States FRP Grating Market by End-Use Industry
11.1.7.2 Canada FRP Grating Market
11.1.7.2.1 Canada FRP Grating Market by Process
11.1.7.2.2 Canada FRP Grating Market by Resin Type
11.1.7.2.3 Canada FRP Grating Market by Application
11.1.7.2.4 Canada FRP Grating Market by End-Use Industry
11.1.7.3 Mexico FRP Grating Market
11.1.7.3.1 Mexico FRP Grating Market by Process
11.1.7.3.2 Mexico FRP Grating Market by Resin Type
11.1.7.3.3 Mexico FRP Grating Market by Application
11.1.7.3.4 Mexico FRP Grating Market by End-Use Industry
11.2. EUROPE
11.2.1 Europe FRP Grating Market Overview
11.2.2 Europe FRP Grating Market Forecasts and Analysis
11.2.3 Europe FRP Grating Market Forecasts and Analysis - By Process
11.2.4 Europe FRP Grating Market Forecasts and Analysis - By Resin Type
11.2.5 Europe FRP Grating Market Forecasts and Analysis - By Application
11.2.6 Europe FRP Grating Market Forecasts and Analysis - By End-Use Industry
11.2.7 Europe FRP Grating Market Forecasts and Analysis - By Countries
11.2.7.1 Germany FRP Grating Market
11.2.7.1.1 Germany FRP Grating Market by Process
11.2.7.1.2 Germany FRP Grating Market by Resin Type
11.2.7.1.3 Germany FRP Grating Market by Application
11.2.7.1.4 Germany FRP Grating Market by End-Use Industry
11.2.7.2 France FRP Grating Market
11.2.7.2.1 France FRP Grating Market by Process
11.2.7.2.2 France FRP Grating Market by Resin Type
11.2.7.2.3 France FRP Grating Market by Application
11.2.7.2.4 France FRP Grating Market by End-Use Industry
11.2.7.3 Italy FRP Grating Market
11.2.7.3.1 Italy FRP Grating Market by Process
11.2.7.3.2 Italy FRP Grating Market by Resin Type
11.2.7.3.3 Italy FRP Grating Market by Application
11.2.7.3.4 Italy FRP Grating Market by End-Use Industry
11.2.7.4 United Kingdom FRP Grating Market
11.2.7.4.1 United Kingdom FRP Grating Market by Process
11.2.7.4.2 United Kingdom FRP Grating Market by Resin Type
11.2.7.4.3 United Kingdom FRP Grating Market by Application
11.2.7.4.4 United Kingdom FRP Grating Market by End-Use Industry
11.2.7.5 Russia FRP Grating Market
11.2.7.5.1 Russia FRP Grating Market by Process
11.2.7.5.2 Russia FRP Grating Market by Resin Type
11.2.7.5.3 Russia FRP Grating Market by Application
11.2.7.5.4 Russia FRP Grating Market by End-Use Industry
11.2.7.6 Rest of Europe FRP Grating Market
11.2.7.6.1 Rest of Europe FRP Grating Market by Process
11.2.7.6.2 Rest of Europe FRP Grating Market by Resin Type
11.2.7.6.3 Rest of Europe FRP Grating Market by Application
11.2.7.6.4 Rest of Europe FRP Grating Market by End-Use Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific FRP Grating Market Overview
11.3.2 Asia-Pacific FRP Grating Market Forecasts and Analysis
11.3.3 Asia-Pacific FRP Grating Market Forecasts and Analysis - By Process
11.3.4 Asia-Pacific FRP Grating Market Forecasts and Analysis - By Resin Type
11.3.5 Asia-Pacific FRP Grating Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific FRP Grating Market Forecasts and Analysis - By End-Use Industry
11.3.7 Asia-Pacific FRP Grating Market Forecasts and Analysis - By Countries
11.3.7.1 Australia FRP Grating Market
11.3.7.1.1 Australia FRP Grating Market by Process
11.3.7.1.2 Australia FRP Grating Market by Resin Type
11.3.7.1.3 Australia FRP Grating Market by Application
11.3.7.1.4 Australia FRP Grating Market by End-Use Industry
11.3.7.2 China FRP Grating Market
11.3.7.2.1 China FRP Grating Market by Process
11.3.7.2.2 China FRP Grating Market by Resin Type
11.3.7.2.3 China FRP Grating Market by Application
11.3.7.2.4 China FRP Grating Market by End-Use Industry
11.3.7.3 India FRP Grating Market
11.3.7.3.1 India FRP Grating Market by Process
11.3.7.3.2 India FRP Grating Market by Resin Type
11.3.7.3.3 India FRP Grating Market by Application
11.3.7.3.4 India FRP Grating Market by End-Use Industry
11.3.7.4 Japan FRP Grating Market
11.3.7.4.1 Japan FRP Grating Market by Process
11.3.7.4.2 Japan FRP Grating Market by Resin Type
11.3.7.4.3 Japan FRP Grating Market by Application
11.3.7.4.4 Japan FRP Grating Market by End-Use Industry
11.3.7.5 South Korea FRP Grating Market
11.3.7.5.1 South Korea FRP Grating Market by Process
11.3.7.5.2 South Korea FRP Grating Market by Resin Type
11.3.7.5.3 South Korea FRP Grating Market by Application
11.3.7.5.4 South Korea FRP Grating Market by End-Use Industry
11.3.7.6 Rest of Asia-Pacific FRP Grating Market
11.3.7.6.1 Rest of Asia-Pacific FRP Grating Market by Process
11.3.7.6.2 Rest of Asia-Pacific FRP Grating Market by Resin Type
11.3.7.6.3 Rest of Asia-Pacific FRP Grating Market by Application
11.3.7.6.4 Rest of Asia-Pacific FRP Grating Market by End-Use Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa FRP Grating Market Overview
11.4.2 Middle East and Africa FRP Grating Market Forecasts and Analysis
11.4.3 Middle East and Africa FRP Grating Market Forecasts and Analysis - By Process
11.4.4 Middle East and Africa FRP Grating Market Forecasts and Analysis - By Resin Type
11.4.5 Middle East and Africa FRP Grating Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa FRP Grating Market Forecasts and Analysis - By End-Use Industry
11.4.7 Middle East and Africa FRP Grating Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa FRP Grating Market
11.4.7.1.1 South Africa FRP Grating Market by Process
11.4.7.1.2 South Africa FRP Grating Market by Resin Type
11.4.7.1.3 South Africa FRP Grating Market by Application
11.4.7.1.4 South Africa FRP Grating Market by End-Use Industry
11.4.7.2 Saudi Arabia FRP Grating Market
11.4.7.2.1 Saudi Arabia FRP Grating Market by Process
11.4.7.2.2 Saudi Arabia FRP Grating Market by Resin Type
11.4.7.2.3 Saudi Arabia FRP Grating Market by Application
11.4.7.2.4 Saudi Arabia FRP Grating Market by End-Use Industry
11.4.7.3 U.A.E FRP Grating Market
11.4.7.3.1 U.A.E FRP Grating Market by Process
11.4.7.3.2 U.A.E FRP Grating Market by Resin Type
11.4.7.3.3 U.A.E FRP Grating Market by Application
11.4.7.3.4 U.A.E FRP Grating Market by End-Use Industry
11.4.7.4 Rest of Middle East and Africa FRP Grating Market
11.4.7.4.1 Rest of Middle East and Africa FRP Grating Market by Process
11.4.7.4.2 Rest of Middle East and Africa FRP Grating Market by Resin Type
11.4.7.4.3 Rest of Middle East and Africa FRP Grating Market by Application
11.4.7.4.4 Rest of Middle East and Africa FRP Grating Market by End-Use Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America FRP Grating Market Overview
11.5.2 South and Central America FRP Grating Market Forecasts and Analysis
11.5.3 South and Central America FRP Grating Market Forecasts and Analysis - By Process
11.5.4 South and Central America FRP Grating Market Forecasts and Analysis - By Resin Type
11.5.5 South and Central America FRP Grating Market Forecasts and Analysis - By Application
11.5.6 South and Central America FRP Grating Market Forecasts and Analysis - By End-Use Industry
11.5.7 South and Central America FRP Grating Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil FRP Grating Market
11.5.7.1.1 Brazil FRP Grating Market by Process
11.5.7.1.2 Brazil FRP Grating Market by Resin Type
11.5.7.1.3 Brazil FRP Grating Market by Application
11.5.7.1.4 Brazil FRP Grating Market by End-Use Industry
11.5.7.2 Argentina FRP Grating Market
11.5.7.2.1 Argentina FRP Grating Market by Process
11.5.7.2.2 Argentina FRP Grating Market by Resin Type
11.5.7.2.3 Argentina FRP Grating Market by Application
11.5.7.2.4 Argentina FRP Grating Market by End-Use Industry
11.5.7.3 Rest of South and Central America FRP Grating Market
11.5.7.3.1 Rest of South and Central America FRP Grating Market by Process
11.5.7.3.2 Rest of South and Central America FRP Grating Market by Resin Type
11.5.7.3.3 Rest of South and Central America FRP Grating Market by Application
11.5.7.3.4 Rest of South and Central America FRP Grating Market by End-Use Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. FRP GRATING MARKET, KEY COMPANY PROFILES
13.1. AGC MATEX CO. LTD
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BEDFORD REINFORCED PLASTICS
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. DELTA COMPOSITES LLC
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. LIBERTY PULTRUSIONS
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. LIONWELD KENNEDY
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MCNICHOLS CO.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MEISER GMBH
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. NATIONAL GRATING
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. STRONGWELL CORPORATION
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. TECHNO COMPOSITES DOMINE GMBH
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. AGC Matex Co. Ltd
2. Bedford Reinforced Plastics
3. Delta Composites LLC
4. Liberty Pultrusions
5. Lionweld Kennedy
6. Mcnichols Co.
7. Meiser GmbH
8. National Grating
9. Strongwell Corporation
10. Techno Composites Domine GmbH
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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