The Two-Wheeler Tires Market is expected to register a CAGR of 7.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The market is segmented into type, distribution channel, and application. Based on Type, the market is segmented into Tube, and Tubeless. Based on the Distribution Channel, the market is segmented into OEM, and Aftermarket. Depending upon the Application, the market is segmented into Motorcycles, Scooters, Mopeds.
Purpose of the ReportThe report Two-Wheeler Tires 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.
Two-Wheeler Tires Market Segmentation
Type- Tube
- Tubeless;
- OEM
- Aftermarket
- Motorcycles
- Scooters
- Mopeds
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Two-Wheeler Tires Market Growth Drivers- Increasing Two-Wheeler Ownership and Usage: Two-wheeler ownership is on the rise around the world, particularly in emerging nations. Two-wheelers are popular for their low cost, fuel efficiency, and ease of maneuvering in congested traffic. Two-wheelers are widely utilized for personal and commercial transportation in India, China, and Southeast Asia. The rising demand for motorcycles, scooters, and electric two-wheelers significantly affects tire demand, both in the original equipment (OE) and aftermarket sectors.
- Improved Infrastructure and Growing Urbanization: As urbanization continues to spread, particularly in emerging countries, the demand for two-wheelers rises due to the convenience they provide when navigating urban highways. Furthermore, improvements in road infrastructure, such as the construction of highways and country roads, have resulted in greater adoption of two-wheelers, particularly in areas where motorcycles and scooters are the predominant modes of transportation. This urban and infrastructure growth increases the demand for high-quality tires that can handle a variety of road conditions while remaining safe.
- Rising Gasoline Prices and Cost Efficiency: As gasoline prices have risen, many people have turned to two-wheelers as a more affordable alternative to cars and other vehicles. Two-wheelers are generally more fuel efficient and are seen as a more cost-effective means of transportation. As the expense of automobile ownership rises, particularly in emerging nations, so will the demand for two-wheelers, and by extension, high-performance and long-lasting tires. This move bolsters the two-wheeler tire market.
- Technological Breakthroughs in Tire Performance: The two-wheeler tire market is seeing breakthroughs in tire technology, such as innovations in tread design, tire composition, and manufacturing procedures. Advanced compounds such as silica and carbon black improve tire durability, grip, and performance under a variety of situations. Furthermore, new tire designs focus on increasing handling, wet traction, and noise reduction, resulting in a smoother and safer riding experience. Smart tire technology, like as sensors that monitor tire pressure and wear, is also gaining popularity, allowing riders to collect real-time data and maintain optimal tire conditions.
- Rise of luxury and High-Performance Tires: As the two-wheeler market diversifies, particularly in the luxury category, high-performance tires are becoming increasingly popular. Riders of sport bikes and high-end motorbikes are increasingly looking for tires that provide higher grip, handling, and longevity. Manufacturers are reacting by producing tires that perform well on both dry and wet conditions, are wear-resistant, and provide high-speed stability. The move toward premium tire offers reflects consumers' increasing willingness to invest in high-quality products that increase safety and performance.
- Aftermarket Growth and Replacement Demand: As two-wheelers age, the demand for replacement tires increases. The aftermarket section of the two-wheeler tire market is significant since tires must be replaced on a regular basis for maintenance and safety. Tire replacement is predicted to increase as the number of two-wheelers in use grows and ownership cycles lengthen, particularly in nations with significant two-wheeler penetration such as India, Southeast Asia, and Latin America. This creates an opportunity for tire manufacturers to meet this need by offering a variety of durable, high-performance tires that ensure the safety and lifespan of two-wheeler owners.
- Demand for Customized & Specialized Tires: There is a growing need for specialized tires designed for diverse riding conditions and preferences, such as off-road motorcycles, racing bikes, and urban scooters. Manufacturers can benefit on the increased demand for high-performance tires by providing solutions optimized for specific applications. For example, tires for adventure bikes must be durable and provide exceptional grip in off-road conditions, whereas tires for sports bikes must prioritize high-speed stability and handling. This specialty area provides potential for product differentiation and market growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Two-Wheeler Tires 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 Two-Wheeler Tires 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
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The major players in the market includes Michelin, Pirelli, MRF Tires, Apollo Tyres, CEAT Limited, Continental AG, Bridgestone Corp., Hangzhou Zhongce Rubber Company, Goodyear, JK Tyre & Industries Ltd., Sumitomo Rubber Industries, Cooper Tire & Rubber Company, and others.
The Two-Wheeler Tires Market is estimated to witness a CAGR of 7.5% from 2023 to 2031
The high manufacturing cost for the two-wheeler tires hinders the market growth.
The major factors driving the Two-Wheeler Tires market are: Increasing sale of the two-wheelers with rapid urbanization drives the market growth.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Two Wheeler Tire Market - By Type
1.3.2 Two Wheeler Tire Market - By Distribution Channel
1.3.3 Two Wheeler Tire Market - By Application
1.3.4 Two Wheeler Tire Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TWO WHEELER TIRE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. TWO WHEELER TIRE 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. TWO WHEELER TIRE MARKET - GLOBAL MARKET ANALYSIS
6.1. TWO WHEELER TIRE - GLOBAL MARKET OVERVIEW
6.2. TWO WHEELER TIRE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TWO WHEELER TIRE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. TUBE
7.3.1. Overview
7.3.2. Tube Market Forecast and Analysis
7.4. TUBELESS
7.4.1. Overview
7.4.2. Tubeless Market Forecast and Analysis
8. TWO WHEELER TIRE MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. OEM
8.3.1. Overview
8.3.2. OEM Market Forecast and Analysis
8.4. AFTERMARKET
8.4.1. Overview
8.4.2. Aftermarket Market Forecast and Analysis
9. TWO WHEELER TIRE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. MOTORCYCLES
9.3.1. Overview
9.3.2. Motorcycles Market Forecast and Analysis
9.4. SCOOTERS
9.4.1. Overview
9.4.2. Scooters Market Forecast and Analysis
9.5. MOPEDS
9.5.1. Overview
9.5.2. Mopeds Market Forecast and Analysis
10. TWO WHEELER TIRE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Two Wheeler Tire Market Overview
10.1.2 North America Two Wheeler Tire Market Forecasts and Analysis
10.1.3 North America Two Wheeler Tire Market Forecasts and Analysis - By Type
10.1.4 North America Two Wheeler Tire Market Forecasts and Analysis - By Distribution Channel
10.1.5 North America Two Wheeler Tire Market Forecasts and Analysis - By Application
10.1.6 North America Two Wheeler Tire Market Forecasts and Analysis - By Countries
10.1.6.1 United States Two Wheeler Tire Market
10.1.6.1.1 United States Two Wheeler Tire Market by Type
10.1.6.1.2 United States Two Wheeler Tire Market by Distribution Channel
10.1.6.1.3 United States Two Wheeler Tire Market by Application
10.1.6.2 Canada Two Wheeler Tire Market
10.1.6.2.1 Canada Two Wheeler Tire Market by Type
10.1.6.2.2 Canada Two Wheeler Tire Market by Distribution Channel
10.1.6.2.3 Canada Two Wheeler Tire Market by Application
10.1.6.3 Mexico Two Wheeler Tire Market
10.1.6.3.1 Mexico Two Wheeler Tire Market by Type
10.1.6.3.2 Mexico Two Wheeler Tire Market by Distribution Channel
10.1.6.3.3 Mexico Two Wheeler Tire Market by Application
10.2. EUROPE
10.2.1 Europe Two Wheeler Tire Market Overview
10.2.2 Europe Two Wheeler Tire Market Forecasts and Analysis
10.2.3 Europe Two Wheeler Tire Market Forecasts and Analysis - By Type
10.2.4 Europe Two Wheeler Tire Market Forecasts and Analysis - By Distribution Channel
10.2.5 Europe Two Wheeler Tire Market Forecasts and Analysis - By Application
10.2.6 Europe Two Wheeler Tire Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Two Wheeler Tire Market
10.2.6.1.1 Germany Two Wheeler Tire Market by Type
10.2.6.1.2 Germany Two Wheeler Tire Market by Distribution Channel
10.2.6.1.3 Germany Two Wheeler Tire Market by Application
10.2.6.2 France Two Wheeler Tire Market
10.2.6.2.1 France Two Wheeler Tire Market by Type
10.2.6.2.2 France Two Wheeler Tire Market by Distribution Channel
10.2.6.2.3 France Two Wheeler Tire Market by Application
10.2.6.3 Italy Two Wheeler Tire Market
10.2.6.3.1 Italy Two Wheeler Tire Market by Type
10.2.6.3.2 Italy Two Wheeler Tire Market by Distribution Channel
10.2.6.3.3 Italy Two Wheeler Tire Market by Application
10.2.6.4 United Kingdom Two Wheeler Tire Market
10.2.6.4.1 United Kingdom Two Wheeler Tire Market by Type
10.2.6.4.2 United Kingdom Two Wheeler Tire Market by Distribution Channel
10.2.6.4.3 United Kingdom Two Wheeler Tire Market by Application
10.2.6.5 Russia Two Wheeler Tire Market
10.2.6.5.1 Russia Two Wheeler Tire Market by Type
10.2.6.5.2 Russia Two Wheeler Tire Market by Distribution Channel
10.2.6.5.3 Russia Two Wheeler Tire Market by Application
10.2.6.6 Rest of Europe Two Wheeler Tire Market
10.2.6.6.1 Rest of Europe Two Wheeler Tire Market by Type
10.2.6.6.2 Rest of Europe Two Wheeler Tire Market by Distribution Channel
10.2.6.6.3 Rest of Europe Two Wheeler Tire Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Two Wheeler Tire Market Overview
10.3.2 Asia-Pacific Two Wheeler Tire Market Forecasts and Analysis
10.3.3 Asia-Pacific Two Wheeler Tire Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Two Wheeler Tire Market Forecasts and Analysis - By Distribution Channel
10.3.5 Asia-Pacific Two Wheeler Tire Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Two Wheeler Tire Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Two Wheeler Tire Market
10.3.6.1.1 Australia Two Wheeler Tire Market by Type
10.3.6.1.2 Australia Two Wheeler Tire Market by Distribution Channel
10.3.6.1.3 Australia Two Wheeler Tire Market by Application
10.3.6.2 China Two Wheeler Tire Market
10.3.6.2.1 China Two Wheeler Tire Market by Type
10.3.6.2.2 China Two Wheeler Tire Market by Distribution Channel
10.3.6.2.3 China Two Wheeler Tire Market by Application
10.3.6.3 India Two Wheeler Tire Market
10.3.6.3.1 India Two Wheeler Tire Market by Type
10.3.6.3.2 India Two Wheeler Tire Market by Distribution Channel
10.3.6.3.3 India Two Wheeler Tire Market by Application
10.3.6.4 Japan Two Wheeler Tire Market
10.3.6.4.1 Japan Two Wheeler Tire Market by Type
10.3.6.4.2 Japan Two Wheeler Tire Market by Distribution Channel
10.3.6.4.3 Japan Two Wheeler Tire Market by Application
10.3.6.5 South Korea Two Wheeler Tire Market
10.3.6.5.1 South Korea Two Wheeler Tire Market by Type
10.3.6.5.2 South Korea Two Wheeler Tire Market by Distribution Channel
10.3.6.5.3 South Korea Two Wheeler Tire Market by Application
10.3.6.6 Rest of Asia-Pacific Two Wheeler Tire Market
10.3.6.6.1 Rest of Asia-Pacific Two Wheeler Tire Market by Type
10.3.6.6.2 Rest of Asia-Pacific Two Wheeler Tire Market by Distribution Channel
10.3.6.6.3 Rest of Asia-Pacific Two Wheeler Tire Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Two Wheeler Tire Market Overview
10.4.2 Middle East and Africa Two Wheeler Tire Market Forecasts and Analysis
10.4.3 Middle East and Africa Two Wheeler Tire Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Two Wheeler Tire Market Forecasts and Analysis - By Distribution Channel
10.4.5 Middle East and Africa Two Wheeler Tire Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Two Wheeler Tire Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Two Wheeler Tire Market
10.4.6.1.1 South Africa Two Wheeler Tire Market by Type
10.4.6.1.2 South Africa Two Wheeler Tire Market by Distribution Channel
10.4.6.1.3 South Africa Two Wheeler Tire Market by Application
10.4.6.2 Saudi Arabia Two Wheeler Tire Market
10.4.6.2.1 Saudi Arabia Two Wheeler Tire Market by Type
10.4.6.2.2 Saudi Arabia Two Wheeler Tire Market by Distribution Channel
10.4.6.2.3 Saudi Arabia Two Wheeler Tire Market by Application
10.4.6.3 U.A.E Two Wheeler Tire Market
10.4.6.3.1 U.A.E Two Wheeler Tire Market by Type
10.4.6.3.2 U.A.E Two Wheeler Tire Market by Distribution Channel
10.4.6.3.3 U.A.E Two Wheeler Tire Market by Application
10.4.6.4 Rest of Middle East and Africa Two Wheeler Tire Market
10.4.6.4.1 Rest of Middle East and Africa Two Wheeler Tire Market by Type
10.4.6.4.2 Rest of Middle East and Africa Two Wheeler Tire Market by Distribution Channel
10.4.6.4.3 Rest of Middle East and Africa Two Wheeler Tire Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Two Wheeler Tire Market Overview
10.5.2 South and Central America Two Wheeler Tire Market Forecasts and Analysis
10.5.3 South and Central America Two Wheeler Tire Market Forecasts and Analysis - By Type
10.5.4 South and Central America Two Wheeler Tire Market Forecasts and Analysis - By Distribution Channel
10.5.5 South and Central America Two Wheeler Tire Market Forecasts and Analysis - By Application
10.5.6 South and Central America Two Wheeler Tire Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Two Wheeler Tire Market
10.5.6.1.1 Brazil Two Wheeler Tire Market by Type
10.5.6.1.2 Brazil Two Wheeler Tire Market by Distribution Channel
10.5.6.1.3 Brazil Two Wheeler Tire Market by Application
10.5.6.2 Argentina Two Wheeler Tire Market
10.5.6.2.1 Argentina Two Wheeler Tire Market by Type
10.5.6.2.2 Argentina Two Wheeler Tire Market by Distribution Channel
10.5.6.2.3 Argentina Two Wheeler Tire Market by Application
10.5.6.3 Rest of South and Central America Two Wheeler Tire Market
10.5.6.3.1 Rest of South and Central America Two Wheeler Tire Market by Type
10.5.6.3.2 Rest of South and Central America Two Wheeler Tire Market by Distribution Channel
10.5.6.3.3 Rest of South and Central America Two Wheeler Tire 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. TWO WHEELER TIRE MARKET, KEY COMPANY PROFILES
12.1. BRIDGESTONE CORPORATION
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. CHENG SHIN RUBBER INDUSTRY CO.
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. CONTINENTAL AG
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. COOPER TIRE AND RUBBER COMPANY
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. DUNLOP TYRES
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. METZELER
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. MICHELIN
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. MRF LIMITED
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. PIRELLI AND C. S.P.A.
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. SHINKO TIRES
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.Bridgestone Corporation
2.Cheng Shin Rubber Industry Co.
3.Continental AG
4.Cooper Tire and Rubber Company
5.Dunlop Tyres
6.Metzeler
7.Michelin
8.MRF Limited
9.Pirelli and C. S.p.A.
10.Shinko Tires
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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