The Plastics For Electric Vehicle market in Asia Pacific is expected to grow from US$ 419.70 million in 2019 to US$ 1753.47 million by 2027; it is estimated to grow at a CAGR of 19.8% from 2020 to 2027.
China, India, Japan, South Korea, Australia, and Rest of APAC are the major economies in Asia Pacific. The rising demand of electric vehicles will surge its demand in the market. With a growing emphasis on environmental sustainability, a shift has been made towards manufacturing automobiles which generates less greenhouse gases emissions and are comparatively better fuel efficient. The market for electric vehicles is looked upon on the basis of the cost-effectiveness, environment-sustainability, convenience and a variety of governmental policies including preferential rates, incentives towards equipment purchase and significant rebates. All such factors have propelled the demand for electric vehicles in the Asia Pacific market scenario. For instance, according to IEA, a 40% year-on-year increase has been registered with the sales of electric cars to 2.1 million worldwide in 2019, significantly surpassing that of 2018. The demand for electric vehicles is expanding with the rising consciousness towards environment backed by the adoption of advanced technology and positive government measures. The rising demand for electric vehicles is expected to propel growth of other industries including plastics, as it is one of the preferred materials used in manufacturing of electric vehicles. The stringent emission norms & regulations implemented by government is yet another factor, which has motivated the manufacturers to minimize the weight of passenger cars & look for environment friendly automotive option, thus, promoting the demand for electric vehicle in Asia Pacific market scenario. Further, the futuristic scope of the electric vehicle plastics market is full of diversified opportunities owing to advancement of technologies such as use of hybrid, plug-in-hybrid, and battery electric vehicles. All such factors are anticipated to positively impact the growth of electric vehicles Plastics market in Asia Pacific.The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Government have asked the chemical & materials manufacturers to delay their production which will adversely affect the worldwide supply of plastics for electric vehicle.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Considering these factors the Asia Pacific Plastics For Electric Vehicle market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Plastics For Electric Vehicle Market Revenue and Forecast to 2027 (US$ Mn)Asia Pacific Plastics For Electric Vehicle Market Segmentation
Asia Pacific Plastics For Electric Vehicle Market – By Plastics Type
- Acrylonitrile Butadiene Styrene (ABS)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyvinyl Butyral
- Polyurethane (PU)
- Polypropylene (PP)
- Others
Asia Pacific Plastics For Electric Vehicle Market – By Component
- Dashboard
- Seats
- Interior Trim
- Car Upholstery
- Bumper
- Others
Asia Pacific Plastics For Electric Vehicle Market – By Vehicle Type
- BEV
- PHEV/ HEV
Asia Pacific Plastics For Electric Vehicle Market – By Application
- Powertrain System/ Under Bonnet
- Exterior
- Interior
- Lighting and Electric Wiring
Asia Pacific Plastics For Electric Vehicle Market, by Country
- China
- India
- Japan
- South Korea
- Australia
- Rest of APAC
Asia Pacific Plastics For Electric Vehicle Market-Companies Mentioned
- BASF SE
- Solvay SA
- DuPont de Nemours, Inc.
- The Dow Chemical Company
- LG Chem Ltd.
- Lanxess AG
- Sabic
- Covestro AG
- Asahi Kasei Corporation
- Lyondellbasell Industries Holdings B.V.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Plastics Type, Component, Vehicle Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Plastics for Electric Vehicles Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Plastics for Electric Vehicle Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand of Electric Vehicles
5.1.2 Adoption of Lightweight Materials in an Urge to Decrease Vehicle Weight
5.2 Market Restraints
5.2.1 Recycling of Plastic Materials Utilized in Electric Vehicle
5.3 Market Opportunities
5.3.1 Use of Bio-Plastics in Electric Vehicles
5.4 Future Trends
5.4.1 Rising Use of Advanced and Multifunctional Plastic in Electric Vehicle
5.5 Impact Analysis Of Drivers And Restraints
6. Plastics for Electric Vehicles – Asia Pacific Market Analysis
6.1 Plastics for Electric Vehicles Market Overview
6.2 Asia Pacific Plastics for Electric Vehicles Market –Revenue and Forecast to 2027 (US$ Million)
7. Plastics for Electric Vehicle Market Analysis – By Plastic Type
7.1 Overview
7.2 Asia Pacific Plastics for Electric Vehicle Market, By Plastic Type (2019 and 2027)
7.3 Acrylonitrile Butadiene Styrene (ABS)
7.3.1 Overview
7.3.1.1 Acrylonitrile Butadiene Styrene (ABS): Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Polyamide (PA)
7.4.1 Overview
7.4.1.1 Polyamide (PA): Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Polycarbonate (PC)
7.5.1 Overview
7.5.1.1 Polycarbonate (PC): Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Polyvinyl Butyral
7.6.1 Overview
7.6.1.1 Polyvinyl Butyral: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Polyurethane (PU)
7.7.1 Overview
7.7.1.1 Polyurethane (PU): Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Polypropylene (PP)
7.8.1 Overview
7.8.1.1 Polypropylene (PP): Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.1.1 Others: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8. Plastics for Electric Vehicle Market Analysis – By Component
8.1 Overview
8.2 Asia Pacific Plastics for Electric Vehicle Market, By Component (2019 and 2027)
8.3 Dashboard
8.3.1 Overview
8.3.2 Dashboard: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Seats
8.4.1 Overview
8.4.2 Seats: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Interior Trim
8.5.1 Overview
8.5.2 Interior Trim: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Car Upholstery
8.6.1 Overview
8.6.2 Car Upholstery: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Bumper
8.7.1 Overview
8.7.2 Bumper: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9. Plastics for Electric Vehicle Market Analysis – By Vehicle Type
9.1 Overview
9.2 Asia Pacific Plastics for Electric Vehicle Market, By Vehicle Type (2019 and 2027)
9.3 BEV
9.3.1 Overview
9.3.1.1 BEV: Plastics for Electric Vehicle Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 PHEV/ HEV
9.4.1 Overview
9.4.1.1 PHEV/ HEV: Plastics for Electric Vehicle Market – Revenue, and Forecast to 2027 (US$ Million)
10. Plastics for Electric Vehicle Market Analysis – By Application
10.1 Overview
10.2 Asia Pacific Plastics for Electric Vehicle Market, By Application (2019 and 2027)
10.3 Powertrain System / Under Bonnet
10.3.1 Overview
10.3.2 Powertrain System / Under Bonnet: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Exterior
10.4.1 Overview
10.4.2 Exterior: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
10.5 Interior
10.5.1 Overview
10.5.2 Interior: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
10.6 Lighting and Electric Wiring
10.6.1 Overview
10.6.2 Lighting and Electric Wiring: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11. Plastics for Electric Vehicle Market – Country Analysis
11.1 Overview
11.1.1 APAC: Plastic for Electric Vehicle Market, by Key Country
11.1.1.1 Australia: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.1.1 Australia: Plastic for Electric Vehicle Market, by Plastic Type
11.1.1.1.2 Australia Plastics for Electric Vehicle Market, by Component
11.1.1.1.3 Australia Plastics for Electric Vehicle Market, by Vehicle Type
11.1.1.1.4 Australia Plastics for Electric Vehicle Market, by Application
11.1.1.2 China: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.2.1 China: Plastic for Electric Vehicle Market, by Plastic Type
11.1.1.2.2 China: Plastic for Electric Vehicle Market, by Component
11.1.1.2.3 China Plastics for Electric Vehicle Market, by Vehicle Type
11.1.1.2.4 China Plastics for Electric Vehicle Market, by Application
11.1.1.3 India: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.3.1 India: Plastic for Electric Vehicle Market, by Plastic Type
11.1.1.3.2 India: Plastic for Electric Vehicle Market, by Components
11.1.1.3.3 India Plastics for Electric Vehicle Market, by Vehicle Type
11.1.1.3.4 India Plastics for Electric Vehicle Market, by Application
11.1.1.4 Japan: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.4.1 Japan: Plastic for Electric Vehicle Market, by Plastic Type
11.1.1.4.2 Japan Plastics for Electric Vehicle Market, by Component
11.1.1.4.3 Japan Plastics for Electric Vehicle Market, by Vehicle Type
11.1.1.4.4 Japan Plastics for Electric Vehicle Market, by Application
11.1.1.5 South Korea: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.5.1 South Korea: Plastic for Electric Vehicle Market, by Plastic Type
11.1.1.5.2 South Korea Plastics for Electric Vehicle Market, by Component
11.1.1.5.3 South Korea Plastics for Electric Vehicle Market, by Vehicle Type
11.1.1.5.4 South Korea Plastics for Electric Vehicle Market, by Application
11.1.1.6 Rest of APAC: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.6.1 Rest of APAC: Plastic for Electric Vehicle Market, by Plastic Type
11.1.1.6.2 Rest of APAC Plastics for Electric Vehicle Market, by Component
11.1.1.6.3 Rest of APAC Plastics for Electric Vehicle Market, by Vehicle Type
11.1.1.6.4 Rest of APAC Plastics for Electric Vehicle Market, by Application
12. Impact of COVID-19 Pandemic on Asia Pacific Plastics for Electric Vehicle Market
12.1 Overview
13. Industry Landscape
13.1 Merger and Acquisition
13.2 New Development
13.3 Investment Scenario
14. Company Profiles
14.1 BASF SE
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 Solvay SA
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 DuPont de Nemours, Inc.
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
14.4 The Dow Chemical Company
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 LG Chem Ltd.
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 Lanxess AG
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 Sabic
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 Covestro AG
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 Asahi Kasei Corporation
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 Lyondellbasell Industries Holdings B.V.
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 Glossary
LIST OF TABLES
Table 1. Asia Pacific Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. Australia Plastics for Electric Vehicle Market, by Plastic Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. Australia Plastics for Electric Vehicle Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia Plastics for Electric Vehicle Market, by Vehicle Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Australia Plastics for Electric Vehicle Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. China Plastics for Electric Vehicle Market, by Plastic Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. China Plastics for Electric Vehicle Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 8. China Plastics for Electric Vehicle Market, by Vehicle Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. China Plastics for Electric Vehicle Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 10. India Plastics for Electric Vehicle Market, by Plastic Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. India Plastics for Electric Vehicle Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 12. India Plastics for Electric Vehicle Market, by Vehicle Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. India Plastics for Electric Vehicle Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. Japan Plastics for Electric Vehicle Market, by Plastic Type – Revenue and Forecast to 2027 (US$ Million)
Table 15. Japan Plastics for Electric Vehicle Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 16. Japan Plastics for Electric Vehicle Market, by Vehicle Type – Revenue and Forecast to 2027 (US$ Million)
Table 17. Japan Plastics for Electric Vehicle Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. South Korea Plastics for Electric Vehicle Market, by Plastic Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. South Korea Plastics for Electric Vehicle Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 20. South Korea Plastics for Electric Vehicle Market, by Vehicle Type – Revenue and Forecast to 2027 (US$ Million)
Table 21. South Korea Plastics for Electric Vehicle Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of APAC Plastics for Electric Vehicle Market, by Plastic Type – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of APAC Plastics for Electric Vehicle Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 24. Rest of APAC Plastics for Electric Vehicle Market, by Vehicle Type – Revenue and Forecast to 2027 (US$ Million)
Table 25. Rest of APAC Plastics for Electric Vehicle Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 26. Glossary of Terms, Asia Pacific Plastics for Electric Vehicle Market
LIST OF FIGURES
Figure 1. Plastics for Electric Vehicle Market Segmentation
Figure 2. Plastics for Electric Vehicle Market Segmentation – By Country
Figure 3. Asia Pacific Plastics for Electric Vehicle Market Overview
Figure 4. Polypropylene Segment Held Largest Share of Asia Pacific Plastics for Electric Vehicle Market
Figure 5. China Country Held Largest Share of Asia Pacific Plastics for Electric Vehicle Market
Figure 6. Asia Pacific Plastics for Electric Vehicle Market, Industry Landscape
Figure 7. APAC: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Plastics for Electric Vehicle Market Impact Analysis Of Driver And Restraints
Figure 10. Asia Pacific Plastics for Electric Vehicles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Asia Pacific Plastics for Electric Vehicle Market Revenue Share, by Plastic Type (2019 and 2027)
Figure 12. Asia Pacific Acrylonitrile Butadiene Styrene (ABS): Plastics for Electric Vehicle Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. Asia Pacific Polyamide (PA): Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Figure 14. Asia Pacific Polycarbonate (PC): Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Figure 15. Asia Pacific Polyvinyl Butyral: Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Figure 16. Asia Pacific Polyurethane (PU): Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Figure 17. Asia Pacific Polypropylene (PP): Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Figure 18. Asia Pacific Others: Plastics for Electric Vehicle Market –Revenue and Forecast to 2027 (US$ Million)
Figure 19. Asia Pacific Plastics for Electric Vehicle Market Revenue Share, by Component (2019 and 2027)
Figure 20. Asia Pacific Dashboard: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Asia Pacific Seats: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Asia Pacific Interior Trim: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Asia Pacific Car Upholstery: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Asia Pacific Bumper: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Asia Pacific Others: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Asia Pacific Plastics for Electric Vehicle Market Revenue Share, by Vehicle Type (2019 and 2027)
Figure 27. Asia Pacific BEV: Plastics for Electric Vehicle Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. Asia Pacific PHEV/ HEV: Plastics for Electric Vehicle Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 29. Asia Pacific Plastics for Electric Vehicle Market Revenue Share, by Application (2019 and 2027)
Figure 30. Asia Pacific Powertrain System / Under Bonnet: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Asia Pacific Exterior: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Asia Pacific Interior: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Asia Pacific Lighting and Electric Wiring: Plastics for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. APAC: Plastic for Electric Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 35. Australia: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. China: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. India: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Japan: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. South Korea: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. Rest of APAC: Plastic for Electric Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
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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