Asia-Pacific Electric Insulator Market to Grow at a CAGR of 6.9% to reach US$ 5,764.49 million from 2021 to 2028

Asia-Pacific Electric Insulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Shackle Insulator, Pin Insulator, Suspension Insulator, and Other Product Types), Material Type (Ceramic, Glass, and Composite), Application (Transformer, Busbar, Cable, Switchgear, Surge Protection Device, and Other Applications), and End User (Utilities, Industries, and Other End Users)

  • Report Code : TIPRE00025170
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 146
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The APAC electric insulator market is expected to grow from US$ 3,614.23 million in 2021 to US$ 5,764.49 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028.



China, Japan, India, South Korea, and Australia are major economies in APAC. Growing trend of smart cities and smart grids is expected to surge the market in coming years. With the rise in urbanization and the emergence of advanced technologies, many countries are focusing on building smart cities for a healthier and luxurious lifestyle. For instance, in 2021, Japanese automobile manufacturing company “Toyota” announced that their Smart City project, the ‘Woven City’, had begun at Mount Fuji, Japan. The city is envisioned to be a smart city that is a “living laboratory” spread across 175 acres and will be used to test autonomous vehicles, along with consumer and industrial grade robotics, and above all, the integration of artificial intelligence with the personal lives and mobility of its residents. The Woven City was initially announced back in January 2020 at the Consumer Electronics Show, where it was described as a “prototype city of the future where all ecosystems are connected.” Similarly, according to the India Brand Equity Foundation website, the government of India has selected 100 cities for area-based and pan-city development between 2019 and 2023. For this, in 2020, the total allocated investments for the “Smart City Mission” stood at US$ 28.31 billion. Of the total investments, 5,331 projects worth US$ 24.31 billion (86% of the total) have been tendered as of 2020. Work orders have been issued for 4,540 projects worth US$ 19.33 billion (68% of the total) and 2,122 projects worth US$ 4.83 billion have been completed (17% of the total) as of 2020. In smart cities, the key services including utility, transportation, safety, and health are managed more efficiently using technology and proper utilization of resources. Smart cities are likely to depend on smart grids to provide robust energy to perform the key activities and functions. Therefore, with the growing number of smart city projects, the need for electric insulators is required for applicable in smart power grids which will drive the APAC Electric Insulator market growth.

In case of COVID-19, APAC is highly affected specially India. The COVID-19 that emerged in China has affected several neighboring countries such as India, South Korea, and Japan, among others. China and India are the most prominent manufacturing hub in the region and have an enhanced focus on industrialization. The growth of the manufacturing industry has been hampered due to lockdown but soon expected to recover the development by enhancing the production capabilities in the second half of the year 2021. The imposition of a ban on commercial activities has disrupted the industrial supply chains in APAC region, leading to raw material shortages. Further, due to COVID-19 outbreak, the demand of electricity in the region falls in 2020. However, with uplifting of lockdown in 2021, the electricity demand and production both increasing due to the working of industrial and commercial sector. Therefore, with growing electricity demand, the need for electric insulator is also rising.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC electric insulator market. The APAC electric insulator market is expected to grow at a good CAGR during the forecast period.

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APAC Electric Insulator Market Segmentation      

APAC Electric Insulator Market – By Product Type

  • Shackle Insulator
  • Pin Insulator
  • Suspension Insulator
  • Other Product Types

APAC Electric Insulator Market – By Material Type

  • Ceramic
  • Glass
  • Composite

APAC Electric Insulator Market – By Application

  • Transformer
  • Busbar
  • Cable
  • Switchgear
  • Surge Protection Device
  • Other Applications

APAC Electric Insulator Market – ByEnd User

  • Utilities
  • Industries
  • Other End Users

APAC Electric Insulator Market, by Country

  • Australia
  • China
  • India     
  • Japan
  • South Korea
  • Rest of APAC

APAC Electric Insulator Market -Companies Mentioned

  • Aditya Birla Insulators
  • General Electric Company
  • Hitachi ABB Power Grids Group
  • Hubbell Incorporated
  • MacLean-Fogg Company
  • NGK Insulators, Ltd.     
  • PFISTERER Holding AG
  • SEVES Group
  • Siemens AG
  • TE Connectivity Ltd. 
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 APAC Electric Insulator Market – By Product Type

1.3.2 APAC Electric Insulator Market – By Material Type

1.3.3 APAC Electric Insulator Market – By Application

1.3.4 APAC Electric Insulator Market – By End User

1.3.5 APAC Electric Insulator Market- By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. APAC Electric Insulator Market Landscape

4.1 Market Overview

4.2 APAC PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. APAC Electric Insulator Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Surging Electricity Demand

5.1.2 Escalating Industrialization in Developing Countries

5.2 Market Restraints

5.2.1 Raw Material Prices Fluctuation

5.3 Market Opportunities

5.3.1 Rising Railway Infrastructure Development

5.4 Future Trends

5.4.1 Growing Trend of Smart Cities and Smart Grids

5.5 Impact Analysis of Drivers and Restraints

6. Electric Insulator Market – APAC Analysis

6.1 APAC Electric Insulator Market Overview

6.2 APAC Electric Insulator Market –Revenue and Forecast to 2028 (US$ million)

7. APAC Electric Insulator Market Analysis – By Product Type

7.1 Overview

7.2 APAC Electric Insulator Market Breakdown, By Product Type, 2020 and 2028

7.3 Shackle Insulator

7.3.1 Overview

7.3.2 Shackle Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

7.4 Pin Insulator

7.4.1 Overview

7.4.2 Pin Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

7.5 Suspension Insulator

7.5.1 Overview

7.5.2 Suspension Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

7.6 Other Product Types

7.6.1 Overview

7.6.2 Other Product Types: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

8. APAC Electric Insulator Market Analysis – By Material Type

8.1 Overview

8.2 APAC Electric Insulator Market Breakdown, By Material Type, 2020 and 2028

8.3 Ceramic

8.3.1 Overview

8.3.2 Ceramic: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

8.4 Glass

8.4.1 Overview

8.4.2 Glass: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

8.5 Composite

8.5.1 Overview

8.5.2 Composite: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

9. APAC Electric Insulator Market Analysis – By Application

9.1 Overview

9.2 APAC Electric Insulator Market Breakdown, By Application, 2020 and 2028

9.3 Transformer

9.3.1 Overview

9.3.2 Transformer: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

9.4 Busbar

9.4.1 Overview

9.4.2 Busbar: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

9.5 Cable

9.5.1 Overview

9.5.2 Cable: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

9.6 Switchgear

9.6.1 Overview

9.6.2 Switchgear: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

9.7 Surge Protection Device

9.7.1 Overview

9.7.2 Surge Protection Device: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

9.8 Other Applications

9.8.1 Overview

9.8.2 Other Applications: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

10. APAC Electric Insulator Market Analysis– By End User

10.1 Overview

10.2 APAC Electric Insulator Market Breakdown, By End User, 2020 and 2028

10.3 Utilities

10.3.1 Overview

10.3.2 Utilities: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

10.4 Industries

10.4.1 Overview

10.4.2 Industries: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

10.5 Other End Users

10.5.1 Overview

10.5.2 Other End Users: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

11. APAC Electric Insulator Market – Country Analysis

11.1 Overview

11.1.1 APAC Electric Insulator Market Breakdown, by Country

11.1.1.1 Australia Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)

11.1.1.1.1 Australia Electric Insulator Market Breakdown, By Product Type

11.1.1.1.2 Australia Electric Insulator Market Breakdown, By Material Type

11.1.1.1.3 Australia Electric Insulator Market Breakdown, By Application

11.1.1.1.4 Australia Electric Insulator Market Breakdown, By End User

11.1.1.2 China Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)

11.1.1.2.1 China Electric Insulator Market Breakdown, By Product Type

11.1.1.2.2 China Electric Insulator Market Breakdown, By Material Type

11.1.1.2.3 China Electric Insulator Market Breakdown, By Application

11.1.1.2.4 China Electric Insulator Market Breakdown, By End User

11.1.1.3 India Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)

11.1.1.3.1 India Electric Insulator Market Breakdown, By Product Type

11.1.1.3.2 India Electric Insulator Market Breakdown, By Material Type

11.1.1.3.3 India Electric Insulator Market Breakdown, By Application

11.1.1.3.4 India Electric Insulator Market Breakdown, By End User

11.1.1.4 Japan Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)

11.1.1.4.1 Japan Electric Insulator Market Breakdown, By Product Type

11.1.1.4.2 Japan Electric Insulator Market Breakdown, By Material Type

11.1.1.4.3 Japan Electric Insulator Market Breakdown, By Application

11.1.1.4.4 Japan Electric Insulator Market Breakdown, By End User

11.1.1.5 South Korea Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)

11.1.1.5.1 South Korea Electric Insulator Market Breakdown, By Product Type

11.1.1.5.2 South Korea Electric Insulator Market Breakdown, By Material Type

11.1.1.5.3 South Korea Electric Insulator Market Breakdown, By Application

11.1.1.5.4 South Korea Electric Insulator Market Breakdown, By End User

11.1.1.6 Rest of APAC Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)

11.1.1.6.1 Rest of APAC Electric Insulator Market Breakdown, By Product Type

11.1.1.6.2 Rest of APAC Electric Insulator Market Breakdown, By Material Type

11.1.1.6.3 Rest of APAC Electric Insulator Market Breakdown, By Application

11.1.1.6.4 Rest of APAC Electric Insulator Market Breakdown, By End User

12. APAC Electric Insulator Market- COVID-19 Impact Analysis

12.1 APAC

13. Industry Landscape

13.1 Overview

13.2 Market Initiative

13.3 Merger and Acquisition

13.4 New Development

14. Company Profiles

14.1 Hitachi ABB Power Grids Group

14.1.1 Key Facts

14.1.2 Business Description

14.1.3 Products and Services

14.1.4 Financial Overview

14.1.5 SWOT Analysis

14.1.6 Key Developments

14.2 Aditya Birla Insulators

14.2.1 Key Facts

14.2.2 Business Description

14.2.3 Products and Services

14.2.4 Financial Overview

14.2.5 SWOT Analysis

14.2.6 Key Developments

14.3 General Electric Company

14.3.1 Key Facts

14.3.2 Business Description

14.3.3 Products and Services

14.3.4 Financial Overview

14.3.5 SWOT Analysis

14.3.6 Key Developments

14.4 Hubbell Incorporated

14.4.1 Key Facts

14.4.2 Business Description

14.4.3 Products and Services

14.4.4 Financial Overview

14.4.5 SWOT Analysis

14.4.6 Key Developments

14.5 MacLean-Fogg Company

14.5.1 Key Facts

14.5.2 Business Description

14.5.3 Products and Services

14.5.4 Financial Overview

14.5.5 SWOT Analysis

14.5.6 Key Developments

14.6 NGK Insulators, Ltd.

14.6.1 Key Facts

14.6.2 Business Description

14.6.3 Products and Services

14.6.4 Financial Overview

14.6.5 SWOT Analysis

14.6.6 Key Developments

14.7 PFISTERER Holding AG

14.7.1 Key Facts

14.7.2 Business Description

14.7.3 Products and Services

14.7.4 Financial Overview

14.7.5 SWOT Analysis

14.7.6 Key Developments

14.8 SEVES Group

14.8.1 Key Facts

14.8.2 Business Description

14.8.3 Products and Services

14.8.4 Financial Overview

14.8.5 SWOT Analysis

14.8.6 Key Developments

14.9 Siemens AG

14.9.1 Key Facts

14.9.2 Business Description

14.9.3 Products and Services

14.9.4 Financial Overview

14.9.5 SWOT Analysis

14.9.6 Key Developments

14.10 TE Connectivity Ltd.

14.10.1 Key Facts

14.10.2 Business Description

14.10.3 Products and Services

14.10.4 Financial Overview

14.10.5 SWOT Analysis

14.10.6 Key Developments

15. Appendix

15.1 About The Insight Partners

15.2 Word Index

LIST OF TABLES

Table 1. APAC Electric Insulator Market – Revenue and Forecast to 2028 (US$ million)

Table 2. APAC Electric Insulator Market, Revenue and Forecast To 2028 – By Country (US$ million)

Table 3. Australia Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 4. Australia Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)

Table 5. Australia Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 6. Australia Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)

Table 7. China Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 8. China Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)

Table 9. China Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 10. China Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)

Table 11. India Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 12. India Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)

Table 13. India Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 14. India Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)

Table 15. Japan Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 16. Japan Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)

Table 17. Japan Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 18. Japan Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)

Table 19. South Korea Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 20. South Korea Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)

Table 21. South Korea Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 22. South Korea Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)

Table 23. Rest of APAC Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 24. Rest of APAC Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)

Table 25. Rest of APAC Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 26. Rest of APAC Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)

Table 27. List of Abbreviation

LIST OF FIGURES

Figure 1. APAC Electric Insulator Market Segmentation

Figure 2. APAC Electric Insulator Market Segmentation – By Country

Figure 3. APAC Electric Insulator Market Overview

Figure 4. Pin Insulator Type Held the Largest Market Share in 2020

Figure 5. Ceramic Held the Largest Market Share in 2020

Figure 6. Utilities End User Held the Largest Market Share in 2020

Figure 7. China was the Largest Revenue Contributor in 2020

Figure 8. APAC – PEST Analysis

Figure 9. APAC Electric Insulator Market– Ecosystem Analysis

Figure 10. Expert Opinion

Figure 11. APAC Electric Insulator Market: Impact Analysis of Drivers and Restraints

Figure 12. APAC Electric Insulator Market – Revenue and Forecast to 2028 (US$ million)

Figure 13. APAC Electric Insulator Market Revenue Share, By Product Type (2020 and 2028)

Figure 14. APAC Shackle Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 15. APAC Pin Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 16. APAC Suspension Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 17. APAC Other Product Types: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 18. APAC Electric Insulator Market Revenue Share, By Material Type (2020 and 2028)

Figure 19. APAC Ceramic: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 20. APAC Glass: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 21. APAC Composite: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 22. APAC Electric Insulator Market Revenue Share, By Application (2020 and 2028)

Figure 23. APAC Transformer: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 24. APAC Busbar: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 25. APAC Cable: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 26. APAC Switchgear: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 27. APAC Surge Protection Device: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 28. APAC Other Applications: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 29. APAC Electric Insulator Market Revenue Share, By End User (2020 and 2028)

Figure 30. APAC Utilities: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 31. APAC Industries: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 32. APAC Other End Users: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)

Figure 33. APAC: Electric Insulator Market, by Key Country – Revenue (2020) (USD Million)

Figure 34. APAC Electric Insulator Market Breakdown, by Country, 2020 & 2028 (%)

Figure 35. Australia Electric Insulator Market, Revenue and Forecast To 2028 (US$ million)

Figure 36. China Electric Insulator Market, Revenue and Forecast To 2028 (US$ million)

Figure 37. India Electric Insulator Market, Revenue and Forecast To 2028 (US$ million)

Figure 38. Japan Electric Insulator Market, Revenue and Forecast To 2028 (US$ million)

Figure 39. South Korea Electric Insulator Market, Revenue and Forecast To 2028 (US$ million)

Figure 40. Rest of APAC Electric Insulator Market, Revenue and Forecast To 2028 (US$ million)

Figure 41. Impact of COVID-19 Pandemic in APAC Country Markets

  1. Aditya Birla Insulators
  2. General Electric Company
  3. Hitachi ABB Power Grids Group
  4. Hubbell Incorporated
  5. MacLean-Fogg Company
  6. NGK Insulators, Ltd.
  7. PFISTERER Holding AG
  8. SEVES Group  
  9. Siemens AG
  10. TE Connectivity Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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