LPG Tanker Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET OVERVIEW
A LPG tanker, also known as gas carrier, gas tanker, or LPG carrier is a ship to transport LPG in bulk. LPG tankers enables transport over long distances of substantial volumes of an oil refinery by-product and provides significant advantages. Fully pressurised LPG carriers are fitted with two or three horizontal, cylindrical or spherical cargo tanks with capacities between 20,000 and 90,000 cubic meters and length from 140 m to 229 m . Innovations in the dual-fuel propulsion system possessing the ability to utilize LPG or diesel fuel on a selective basis is propelling the market growth. Growing demands for fully pressurized ships as they represent a cost-effective, simple way of moving LPG to and from smaller gas terminals is also bolstering the market growth.
MARKET SCOPE
The "Global LPG Tanker Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the LPG Tanker market with detailed market segmentation by vessel size, refrigeration and pressurization, and geography. The report provides key statistics on the market status of the leading LPG Tanker market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of vessel size the market is segmented as Small Gas Carriers (SGC), Medium Gas Carriers (MGC), Large Gas Carriers (LGC).
- On the basis of refrigeration and pressurization the market is segmented as fully pressurized, semi-pressurized, fully refrigerated, extra refrigerated.
MARKET DYNAMICS
Drivers
- The increasing demand for liquefied petroleum gas from petrochemical industries, is driving the growth of the LPG Tanker market.
- Innovation in LGC development is propelling the growth of the market.
Restraints
- Amplified prices of LPG is estimated to be a restraint to the global LPG Tanker market.
REGIONAL FRAMEWORK Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market distribution channel and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The LPG Tanker market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the LPG Tanker market in these regions.
IMPACT OF COVID-19 ON LPG TANKER MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries in the year 2020. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. Further, the shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, and delivery schedules for specific periods. However, as economies started to open in 2021, government initiatives and funding to stabilize the condition supported the market demand in a pandemic situation. Growing trade relationships between countries across the globe is anticipated to bolster the LPG Tanker market during the post pandemic era.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market distribution channel and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The LPG Tanker market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the LPG Tanker market in these regions.
IMPACT OF COVID-19 ON LPG TANKER MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries in the year 2020. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. Further, the shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, and delivery schedules for specific periods. However, as economies started to open in 2021, government initiatives and funding to stabilize the condition supported the market demand in a pandemic situation. Growing trade relationships between countries across the globe is anticipated to bolster the LPG Tanker market during the post pandemic era.
MARKET PLAYERS
The report covers key developments in the LPG Tanker market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from LPG Tanker market are anticipated to lucrative growth opportunities in the future with the rising demand for LPG Tanker in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the LPG Tanker market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BNH GAS TANKS LLP
- BW GROUP
- DORIAN LPG LTD
- EXMAR
- GLOBE GAS EQUIPMENTS INDUSTRY PVT. LTD
- KAWASAKI HEAVY INDUSTRIES, LTD.
- LPG VENTURES
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- NAMURA SHIPBUILDING CO. , LTD
- STEALTHGAS INC
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1. 1. SCOPE OF THE STUDY
1. 2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1. 3. MARKET SEGMENTATION
1. 3. 1LPG Tanker Market - By Vessel Size
1. 3. 2LPG Tanker Market - By Refrigeration and Pressurization
1. 3. 3LPG Tanker Market - By Region
1. 3. 3. 1By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LPG TANKER MARKET LANDSCAPE
4. 1. OVERVIEW
4. 2. PORTER""S FIVE FORCES ANALYSIS
4. 2. 1Bargaining Power of Buyers
4. 2. 1Bargaining Power of Suppliers
4. 2. 1Threat of Substitute
4. 2. 1Threat of New Entrants
4. 2. 1Competitive Rivalry
4. 3. EXPERT OPINIONS
5. LPG TANKER 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. LPG TANKER MARKET - GLOBAL MARKET ANALYSIS
6. 1. LPG TANKER - GLOBAL MARKET OVERVIEW
6. 2. LPG TANKER - GLOBAL MARKET AND FORECAST TO 2028
6. 3. MARKET POSITIONING/MARKET SHARE
7. LPG TANKER MARKET - REVENUE AND FORECASTS TO 2028 â"" VESSEL SIZE
7. 1. OVERVIEW
7. 2. VESSEL SIZE MARKET FORECASTS AND ANALYSIS
7. 3. SMALL GAS CARRIERS (SGC)
7. 3. 1. Overview
7. 3. 2. Small Gas Carriers (SGC) Market Forecast and Analysis
7. 4. MEDIUM GAS CARRIERS (MGC)
7. 4. 1. Overview
7. 4. 2. Medium Gas Carriers (MGC) Market Forecast and Analysis
7. 5. LARGE GAS CARRIERS (LGC)
7. 5. 1. Overview
7. 5. 2. Large Gas Carriers (LGC) Market Forecast and Analysis
8. LPG TANKER MARKET - REVENUE AND FORECASTS TO 2028 â" REFRIGERATION AND PRESSURIZATION
8. 1. OVERVIEW
8. 2. REFRIGERATION AND PRESSURIZATION MARKET FORECASTS AND ANALYSIS
8. 3. FULLY PRESSURIZED
8. 3. 1. Overview
8. 3. 2. Fully Pressurized Market Forecast and Analysis
8. 4. SEMI-PRESSURIZED
8. 4. 1. Overview
8. 4. 2. Semi-pressurized Market Forecast and Analysis
8. 5. FULLY REFRIGERATED
8. 5. 1. Overview
8. 5. 2. Fully Refrigerated Market Forecast and Analysis
8. 6. EXTRA REFRIGERATED
8. 6. 1. Overview
8. 6. 2. Extra Refrigerated Market Forecast and Analysis
9. LPG TANKER MARKET REVENUE AND FORECASTS TO 2028 â"" GEOGRAPHICAL ANALYSIS
9. 1. NORTH AMERICA
9. 1. 1North America LPG Tanker Market Overview
9. 1. 2North America LPG Tanker Market Forecasts and Analysis
9. 1. 3North America LPG Tanker Market Forecasts and Analysis - By Vessel Size
9. 1. 4North America LPG Tanker Market Forecasts and Analysis - By Refrigeration and Pressurization
9. 1. 5North America LPG Tanker Market Forecasts and Analysis - By Countries
9. 1. 5. 1United States LPG Tanker Market
9. 1. 5. 1. 1United States LPG Tanker Market by Vessel Size
9. 1. 5. 1. 2United States LPG Tanker Market by Refrigeration and Pressurization
9. 1. 5. 2Canada LPG Tanker Market
9. 1. 5. 2. 1Canada LPG Tanker Market by Vessel Size
9. 1. 5. 2. 2Canada LPG Tanker Market by Refrigeration and Pressurization
9. 1. 5. 3Mexico LPG Tanker Market
9. 1. 5. 3. 1Mexico LPG Tanker Market by Vessel Size
9. 1. 5. 3. 2Mexico LPG Tanker Market by Refrigeration and Pressurization
9. 2. EUROPE
9. 2. 1Europe LPG Tanker Market Overview
9. 2. 2Europe LPG Tanker Market Forecasts and Analysis
9. 2. 3Europe LPG Tanker Market Forecasts and Analysis - By Vessel Size
9. 2. 4Europe LPG Tanker Market Forecasts and Analysis - By Refrigeration and Pressurization
9. 2. 5Europe LPG Tanker Market Forecasts and Analysis - By Countries
9. 2. 5. 1Germany LPG Tanker Market
9. 2. 5. 1. 1Germany LPG Tanker Market by Vessel Size
9. 2. 5. 1. 2Germany LPG Tanker Market by Refrigeration and Pressurization
9. 2. 5. 2France LPG Tanker Market
9. 2. 5. 2. 1France LPG Tanker Market by Vessel Size
9. 2. 5. 2. 2France LPG Tanker Market by Refrigeration and Pressurization
9. 2. 5. 3Italy LPG Tanker Market
9. 2. 5. 3. 1Italy LPG Tanker Market by Vessel Size
9. 2. 5. 3. 2Italy LPG Tanker Market by Refrigeration and Pressurization
9. 2. 5. 4United Kingdom LPG Tanker Market
9. 2. 5. 4. 1United Kingdom LPG Tanker Market by Vessel Size
9. 2. 5. 4. 2United Kingdom LPG Tanker Market by Refrigeration and Pressurization
9. 2. 5. 5Russia LPG Tanker Market
9. 2. 5. 5. 1Russia LPG Tanker Market by Vessel Size
9. 2. 5. 5. 2Russia LPG Tanker Market by Refrigeration and Pressurization
9. 2. 5. 6Rest of Europe LPG Tanker Market
9. 2. 5. 6. 1Rest of Europe LPG Tanker Market by Vessel Size
9. 2. 5. 6. 2Rest of Europe LPG Tanker Market by Refrigeration and Pressurization
9. 3. ASIA-PACIFIC
9. 3. 1Asia-Pacific LPG Tanker Market Overview
9. 3. 2Asia-Pacific LPG Tanker Market Forecasts and Analysis
9. 3. 3Asia-Pacific LPG Tanker Market Forecasts and Analysis - By Vessel Size
9. 3. 4Asia-Pacific LPG Tanker Market Forecasts and Analysis - By Refrigeration and Pressurization
9. 3. 5Asia-Pacific LPG Tanker Market Forecasts and Analysis - By Countries
9. 3. 5. 1Australia LPG Tanker Market
9. 3. 5. 1. 1Australia LPG Tanker Market by Vessel Size
9. 3. 5. 1. 2Australia LPG Tanker Market by Refrigeration and Pressurization
9. 3. 5. 2China LPG Tanker Market
9. 3. 5. 2. 1China LPG Tanker Market by Vessel Size
9. 3. 5. 2. 2China LPG Tanker Market by Refrigeration and Pressurization
9. 3. 5. 3India LPG Tanker Market
9. 3. 5. 3. 1India LPG Tanker Market by Vessel Size
9. 3. 5. 3. 2India LPG Tanker Market by Refrigeration and Pressurization
9. 3. 5. 4Japan LPG Tanker Market
9. 3. 5. 4. 1Japan LPG Tanker Market by Vessel Size
9. 3. 5. 4. 2Japan LPG Tanker Market by Refrigeration and Pressurization
9. 3. 5. 5South Korea LPG Tanker Market
9. 3. 5. 5. 1South Korea LPG Tanker Market by Vessel Size
9. 3. 5. 5. 2South Korea LPG Tanker Market by Refrigeration and Pressurization
9. 3. 5. 6Rest of Asia-Pacific LPG Tanker Market
9. 3. 5. 6. 1Rest of Asia-Pacific LPG Tanker Market by Vessel Size
9. 3. 5. 6. 2Rest of Asia-Pacific LPG Tanker Market by Refrigeration and Pressurization
9. 4. MIDDLE EAST AND AFRICA
9. 4. 1Middle East and Africa LPG Tanker Market Overview
9. 4. 2Middle East and Africa LPG Tanker Market Forecasts and Analysis
9. 4. 3Middle East and Africa LPG Tanker Market Forecasts and Analysis - By Vessel Size
9. 4. 4Middle East and Africa LPG Tanker Market Forecasts and Analysis - By Refrigeration and Pressurization
9. 4. 5Middle East and Africa LPG Tanker Market Forecasts and Analysis - By Countries
9. 4. 5. 1South Africa LPG Tanker Market
9. 4. 5. 1. 1South Africa LPG Tanker Market by Vessel Size
9. 4. 5. 1. 2South Africa LPG Tanker Market by Refrigeration and Pressurization
9. 4. 5. 2Saudi Arabia LPG Tanker Market
9. 4. 5. 2. 1Saudi Arabia LPG Tanker Market by Vessel Size
9. 4. 5. 2. 2Saudi Arabia LPG Tanker Market by Refrigeration and Pressurization
9. 4. 5. 3U. A. E LPG Tanker Market
9. 4. 5. 3. 1U. A. E LPG Tanker Market by Vessel Size
9. 4. 5. 3. 2U. A. E LPG Tanker Market by Refrigeration and Pressurization
9. 4. 5. 4Rest of Middle East and Africa LPG Tanker Market
9. 4. 5. 4. 1Rest of Middle East and Africa LPG Tanker Market by Vessel Size
9. 4. 5. 4. 2Rest of Middle East and Africa LPG Tanker Market by Refrigeration and Pressurization
9. 5. SOUTH AND CENTRAL AMERICA
9. 5. 1South and Central America LPG Tanker Market Overview
9. 5. 2South and Central America LPG Tanker Market Forecasts and Analysis
9. 5. 3South and Central America LPG Tanker Market Forecasts and Analysis - By Vessel Size
9. 5. 4South and Central America LPG Tanker Market Forecasts and Analysis - By Refrigeration and Pressurization
9. 5. 5South and Central America LPG Tanker Market Forecasts and Analysis - By Countries
9. 5. 5. 1Brazil LPG Tanker Market
9. 5. 5. 1. 1Brazil LPG Tanker Market by Vessel Size
9. 5. 5. 1. 2Brazil LPG Tanker Market by Refrigeration and Pressurization
9. 5. 5. 2Argentina LPG Tanker Market
9. 5. 5. 2. 1Argentina LPG Tanker Market by Vessel Size
9. 5. 5. 2. 2Argentina LPG Tanker Market by Refrigeration and Pressurization
9. 5. 5. 3Rest of South and Central America LPG Tanker Market
9. 5. 5. 3. 1Rest of South and Central America LPG Tanker Market by Vessel Size
9. 5. 5. 3. 2Rest of South and Central America LPG Tanker Market by Refrigeration and Pressurization
10. INDUSTRY LANDSCAPE
10. 1. MERGERS AND ACQUISITIONS
10. 2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10. 3. NEW PRODUCT LAUNCHES
10. 4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. LPG TANKER MARKET, KEY COMPANY PROFILES
11. 1. BNH GAS TANKS LLP
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. BW GROUP
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. DORIAN LPG LTD.
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. EXMAR
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. GLOBE GAS EQUIPMENTS INDUSTRY PVT. 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. KAWASAKI HEAVY INDUSTRIES, LTD.
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. LPG VENTURES
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. MITSUBISHI HEAVY INDUSTRIES, LTD.
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. NAMURA SHIPBUILDING 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. STEALTHGAS INC
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
The List Of Companies
- BNH Gas Tanks LLP
- BW Group
- Dorian LPG Ltd.
- EXMAR
- GLOBE GAS EQUIPMENTS INDUSTRY PVT. LTD
- Kawasaki Heavy Industries, Ltd.
- LPG Ventures
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Namura Shipbuilding Co. , Ltd.
- StealthGas Inc
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.