The waste heat boiler market in Asia-Pacific is expected to grow from US$ 2.17 Bn in 2018 to US$ 4.18 Bn by the year 2027. This represents a CAGR of 7.6% from the year 2018 to 2027.
Waste heat boilers are one of the key energy consumption equipment. These solutions recover the waste heat into steams in order to generate power. Vendors are highly focused on identifying technical issues and pursuing R&D that enables the wide-scale use of waste heat boilers. R&D areas include materials and designs to extend equipment life, lessen maintenance time intervals, and offer reliable & consistent performance for several years. Emerging technologies offer enhanced recovering waste heat as compared to traditional methods. For instance, the Kalina cycle is one of the successful methods of recovering low to medium temperature waste heat. Vendors have a huge opportunity by focusing on new technologies that can recover heat from sources not typically considered for heat recoveries such as losses from heated product streams or sidewall losses.
In the future, the energy-efficient solutions would most likely to witness high demand. Waste heat boiler, energy-efficient equipment, is used to recover waste heat energy and can reduce future operating costs, capital investment, and utility systems costs. The performance of waste heater boilers is a key element in the efforts of commercial facilities to hold down utility costs. For maintenance and engineering procedures in various industries, businesses trying to provide efficient boiler performance, the efficiency of the boiler is decided by the proportion of heat output to the amount of fuel utilized.
India Waste heat boiler market is expected to grow at a good CAGR in the forecast period. According to IEA, India has enormous potential of combined heat & power systems backed by a growing number of installations of these systems across sugar mill, refinery & petrochemical, and other industrial sectors. Generally, gas & steam turbine major movers used in the CHP systems across India, as it provides a tremendous power generating capacity. Recently, in 2018, the Indian government announced the acquisition of UK combined heat and power firm Edina for enhancing the CHP market in India through the ‘as-a-service’ model. Thereby, such an initiative will further boost the demand for waste heat boiler in the Indian market. The figure given below highlights the revenue share of Rest of Asia-Pacific in the Asia-Pacific waste heat boiler market in the forecast period:
Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecasts to 2027 (US$ Mn)
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Asia-Pacific Waste Heat Boiler Market–Segmentation
Asia-Pacific Waste Heat Boiler Market By Waste Heat Temperature
- Medium Temperature
- High Temperature
- Ultra-High Temperature
Asia-Pacific Waste Heat Boiler Market By Waste Heat Source
- Oil Engine Exhaust
- Gas Engine Exhaust
- Gas Turbine Exhaust
- Incinerator Exit Gases
- Kiln & Furnace Gases
- Others
Asia-Pacific Waste Heat Boiler Market By Orientation
- Horizontal
- Vertical
Asia-Pacific Waste Heat Boiler Market By End-User
- Power Generation Utilities
- Oil & Gas
- Chemical
- Primary Metals
- Non-Metallic Minerals
- Others
Asia-Pacific Waste Heat Boiler Market By Country
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Asia-Pacific Waste Heat Boiler Market-Companies Mentioned
- Alfa Laval
- CiTECH Energy Recovery Solutions (UK) LTD
- General Electric
- Kawasaki Heavy Industries, Ltd
- Nooter/Eriksen
- Bosch Group
- Thermax
- Thyssenkrupp AG
- Viessmann Group
- Zhengzhou Boiler Co., Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Waste Heat Temperature, Waste Heat Source, Orientation, End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia-Pacfic Waste Heat Boiler Market Landscape
4.1 Market Overview
4.2 PEST ANALYSIS
4.2.1 Asia-Pacific PEST Analysis
4.3 Ecosystem Analysis
5. Asia-Pacfic Waste Heat Boiler Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing energy prices supports the growth of waste heat boiler market
5.2 Key Market Restraint
5.2.1 Challenges associated with integration of waste heat recovery solutions within existing production process
5.3 Key Market Opportunity
5.3.1 Increasing focus towards development of advanced technologies
5.4 Future Trend
5.4.1 Increasing awareness and growing adoption of energy efficient solutions
5.5 Impact Analysis of Drivers and Restraints
6. Asia-Pacific Waste Heat Boiler Market – Market Analysis
6.1 Asia-Pacific Waste heat boiler Market Overview
6.2 Asia-Pacific Waste heat boiler Market Forecast and Analysis
7. Asia-Pacific Waste Heat Boiler Market Analysis – By Waste Heat Temperature
7.1 Overview
7.2 Asia-Pacific Waste Heat Boiler Market Breakdown, By Waste Heat Temperature, 2018 & 2027
7.3 Medium Temperature
7.3.1 Overview
7.3.2 Asia-Pacific Medium Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 High Temperature
7.4.1 Overview
7.4.2 High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Ultra-High Temperature
7.5.1 Overview
7.5.2 Ultra-High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
8. Asia-Pacific Waste Heat Boiler Market Analysis – By Waste Heat Source
8.1 Overview
8.2 Asia-Pacific Waste Heat Boiler Market Breakdown, By Waste Heat Source, 2018 & 2027
8.3 Oil Engine Exhaust
8.3.1 Overview
8.3.2 Asia-Pacific Oil Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Gas Engine Exhaust
8.4.1 Overview
8.4.2 Gas Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Gas Turbine Exhaust
8.5.1 Overview
8.5.2 Asia-Pacific Gas Turbine Market Revenue and Forecasts to 2027 (US$ Mn)
8.6 Incinerator Exit Gases
8.6.1 Overview
8.6.2 Asia-Pacific Incinerator Exit Gases Market Revenue and Forecasts to 2027 (US$ Mn)
8.7 Kiln & Furnace Gases
8.7.1 Overview
8.7.2 Asia-Pacific Kiln & Furnace Gases Market Revenue and Forecasts to 2027 (US$ Mn)
8.8 Others
8.8.1 Overview
8.8.2 Asia-Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)
9. Asia-Pacific Waste Heat Boiler Market Analysis – By Orientation
9.1 Overview
9.2 Asia-Pacific Waste Heat Boiler Market Breakdown, By Orientation, 2018 & 2027
9.3 Horizontal
9.3.1 Overview
9.3.2 Asia-Pacific Horizontal Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 Vertical
9.4.1 Overview
9.4.2 Asia-Pacific Vertical Market Revenue and Forecasts to 2027 (US$ Mn)
10. Asia-Pacific Waste Heat Boiler Market – By End-User
10.1 Overview
10.2 Asia-Pacific Waste Heat Boiler Market Breakdown, By End-User, 2018 & 2027
10.3 Power Generation Utilities
10.3.1 Overview
10.3.2 Asia-Pacific Power Generation Utilities Market Revenue and Forecasts to 2027 (US$ Mn)
10.4 Oil & Gas
10.4.1 Overview
10.4.2 Asia-Pacific Oil & Gas Market Revenue and Forecasts to 2027 (US$ Mn)
10.5 Chemical
10.5.1 Overview
10.5.2 Asia-Pacific Chemical Market Revenue and Forecasts to 2027 (US$ Mn)
10.6 Primary Metals
10.6.1 Overview
10.6.2 Asia-Pacific Primary Metals Market Revenue and Forecasts to 2027 (US$ Mn)
10.7 Non-Metallic Minerals
10.7.1 Overview
10.7.2 Asia-Pacific Non-Metallic Minerals Market Revenue and Forecasts to 2027 (US$ Mn)
10.8 Others
10.8.1 Overview
10.8.2 Asia-Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)
11. Asia-Pacific Waste Heat Boiler Market – Country Analysis
11.1 Asia-Pacific Waste Heat Boiler Market Breakdown, By Country
11.1.1 China Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.1.1 China Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.1.2 China Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.1.3 China Waste Heat Boiler Market Breakdown, By Orientation
11.1.1.4 China Waste Heat Boiler Market Breakdown, By End-Users
11.1.2 Japan Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.2.1 Japan Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.2.2 Japan Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.2.3 Japan Waste Heat Boiler Market Breakdown, By Orientation
11.1.2.4 Japan Waste Heat Boiler Market Breakdown, By End-Users
11.1.3 India Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.3.1 India Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.3.2 India Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.3.3 India Waste Heat Boiler Market Breakdown, By Orientation
11.1.3.4 India Waste Heat Boiler Market Breakdown, By End-Users
11.1.4 South Korea Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.4.1 South Korea Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.4.2 South Korea Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.4.3 South Korea Waste Heat Boiler Market Breakdown, By Orientation
11.1.4.4 South Korea Waste Heat Boiler Market Breakdown, By End-Users
11.1.5 Australia Waste heat boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.5.1 Australia Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.5.2 Australia Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.5.3 Australia Waste Heat Boiler Market Breakdown, By Orientation
11.1.5.4 Australia Waste Heat Boiler Market Breakdown, By End-Users
11.1.6 Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.6.1 Rest of Asia-Pacific Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.6.2 Rest of Asia-Pacific Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.6.3 Rest of Asia-Pacific Waste Heat Boiler Market Breakdown, By Orientation
11.1.6.4 Rest of Asia-Pacific Waste Heat Boiler Market Breakdown, By End-Users
12. Waste Heat Boiler Market - Industry Landscape
12.1 Market Initiative
13. Waste Heat Boiler Market- Company Profiles
13.1 Alfa Laval
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CiTECH Energy Recovery Solutions (UK) LTD
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 General Electric
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Kawasaki Heavy Industries Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Nooter/Eriksen, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Robert Bosch GmbH (Bosch Industriekessel GmbH)
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Thermax
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Thyssenkrupp AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Viessmann Group
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Zhengzhou Boiler Co., Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Asia-Pacific Waste heat boiler Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 3. Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 4. Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 5. Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By End Users (US$ Mn)
Table 6. Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Country (US$ Mn)
Table 7. China Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 8. China Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 9. China Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 10. China Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-Users (US$ Mn)
Table 11. Japan Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 12. Japan Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 13. Japan Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 14. Japan Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-Users (US$ Mn)
Table 15. India Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 16. India Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 17. India Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 18. India Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-Users (US$ Mn)
Table 19. South Korea Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 20. South Korea Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 21. South Korea Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 22. South Korea Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-Users (US$ Mn)
Table 23. Australia Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 24. Australia Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 25. Australia Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 26. Australia Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-Users (US$ Mn)
Table 27. Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 28. Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 29. Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 30. Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-Users (US$ Mn)
Table 31. Glossary of Term: Waste Heat Boiler Market
LIST OF FIGURES
Figure 1. Asia-Pacific Waste heat boiler Market Segmentation
Figure 2. Asia-Pacific Waste Heat Boiler Market Segmentation – By Country
Figure 3. Asia-Pacific Waste Heat Boiler Market Overview
Figure 4. Gas Engine Exhaust held largest share in the Asia-Pacific waste heat boiler market
Figure 5. Primary Metals Segment expected to witness the highest CAGR
Figure 6. India Is Expected To Show Remarkable Traction During The Forecast Period
Figure 7. Asia-Pacific PEST Analysis
Figure 8. Waste Heat Boiler Market Ecosystem Analysis
Figure 9. Energy Price Index, 2015-2019
Figure 10. Asia-Pacific Waste Heat Boiler Market Impact Analysis of Drivers and Restraints
Figure 11. Asia-Pacific Waste heat boiler Market Forecast and Analysis, (US$ Mn)
Figure 12. Asia-Pacific Waste Heat Boiler Market Breakdown, By Waste Heat Temperature, 2018 & 2027 (%)
Figure 13. Asia-Pacific Medium Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. Asia-Pacific High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. Asia-Pacific Ultra-High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. Asia-Pacific Waste Heat Boiler Market Breakdown, By Waste Heat Source, 2018 & 2027 (%)
Figure 17. Asia-Pacific Oil Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. Asia-Pacific Gas Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. Asia-Pacific Gas Turbine Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. Asia-Pacific Incinerator Exit Gases Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. Asia-Pacific Kiln & Furnace Gases Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. Asia-Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. Asia-Pacific Waste Heat Boiler Market Breakdown, By Orientation, 2018 & 2027 (%)
Figure 24. Asia-Pacific Horizontal Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. Asia-Pacific Vertical Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. Asia-Pacific Waste Heat Boiler Market Breakdown, By End-User, 2018 & 2027 (%)
Figure 27. Asia-Pacific Power Generation Utilities Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 28. Asia-Pacific Oil & Gas Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. Asia-Pacific Chemical Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 30. Asia-Pacific Primary Metals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 31. Asia-Pacific Non-Metallic Minerals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 32. Asia-Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. Asia-Pacific Waste Heat Boiler Market Breakdown, By Country, 2018 & 2027(%)
Figure 34. China Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 35. Japan Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 36. India Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 37. South Korea Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 38. Australia Waste heat boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 39. Rest of Asia-Pacific Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
The List of Companies
- Alfa Laval
- CiTECH Energy Recovery Solutions (UK) LTD
- General Electric
- Kawasaki Heavy Industries, Ltd
- Nooter/Eriksen
- Bosch Group
- Thermax
- Thyssenkrupp AG
- Viessmann Group
- Zhengzhou Boiler Co., Ltd
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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