Oil storage tanks are required in the production, refining, and distribution of petroleum products. Small bolted tanks are ideal for production fields while larger, welded storage tanks are used in distribution terminals and refineries throughout the world. Product operating conditions, storage capacities, and specific design issues can affect the tank selection process. The petroleum industry has experienced significant changes in the types of products used to feed the refineries around the world. Increased use of petroleum products has prompted the industry to turn to other sources for supply. Changes in product, physical, and chemical properties impose new challenges to the storage tank industry. Environmental and safety requirements continue to be a significant factor in the selection and design of storage tanks used by the petroleum industry.
MARKET SCOPE
The "Global Fixed roof oil storage Market Analysis to 2028" is a specialized and in-depth study of the Fixed roof oil storage market with a special focus on the global market trend analysis. The report aims to provide an overview of fixed roof oil storage market with detailed market segmentation by type, material, and geography. The global fixed roof oil storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading fixed roof oil storage market players and offers key trends and opportunities in the fixed roof oil storage market.
MARKET SEGMENTATION
- The global fixed roof oil storage market is segmented on the basis of type, and material.
- On the basis of type, the market is segmented as crude oil, gasoline, aviation fuel, naphtha, diesel, and others.
- On the basis of material the market is segmented into steel, carbon steel, and fiberglass-reinforced plastic.
Drivers
- Increasing oil & gas production activities along with the growing demand for crude oil in several end-use sectors.
- Suppliers are focusing on inventories and infrastructure development owing to rising crude oil demand and to store crude oil in large quantities.
- Fluctuation in oil prices.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Fixed roof oil storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i. e. , drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fixed roof oil storage market in these regions.
IMPACT OF COVID-19 ON FIXED ROOF OIL STORAGE MARKET
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries, which limited effect on the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for fossil fuels in transportation and aviation sector, which led to decline in the development of the oil storage market. Decrease in demand for oil and oil products has halted the production processes at both offshore and onshore locations. Therefore, oil storage tank terminal construction and up gradation projects are expected to be pushed further due to the shutdown in the industry.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Fixed roof oil storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i. e. , drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fixed roof oil storage market in these regions.
IMPACT OF COVID-19 ON FIXED ROOF OIL STORAGE MARKET
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries, which limited effect on the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for fossil fuels in transportation and aviation sector, which led to decline in the development of the oil storage market. Decrease in demand for oil and oil products has halted the production processes at both offshore and onshore locations. Therefore, oil storage tank terminal construction and up gradation projects are expected to be pushed further due to the shutdown in the industry.
MARKET PLAYERS
The report covers key developments in the fixed roof oil storage market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Fixed roof oil storage market market are anticipated to lucrative growth opportunities in the future with the rising demand for Fixed roof oil storage market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fixed roof oil storage market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Belco manufacturing co. , Inc.
- Brooge Energy
- Containment Solutions, Inc.
- LBC Tank Terminals,
- L. F. Manufacturing, Inc.
- Oiltanking GmbH
- Odfjell SE
- Puma Energy
- Royal Vopak
- Vitol
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1. 1. SCOPE OF THE STUDY
1. 2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1. 3. MARKET SEGMENTATION
1. 3. 1 Fixed Roof Oil Storage Market - By Type
1. 3. 2 Fixed Roof Oil Storage Market - By Material
1. 3. 3 Fixed Roof Oil Storage Market - By Region
1. 3. 3. 1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FIXED ROOF OIL STORAGE MARKET LANDSCAPE
4. 1. OVERVIEW
4. 2. PEST ANALYSIS
4. 2. 1 North America - Pest Analysis
4. 2. 2 Europe - Pest Analysis
4. 2. 3 Asia-Pacific - Pest Analysis
4. 2. 4 Middle East and Africa - Pest Analysis
4. 2. 5 South and Central America - Pest Analysis
4. 3. EXPERT OPINIONS
5. FIXED ROOF OIL STORAGE 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. FIXED ROOF OIL STORAGE MARKET - GLOBAL MARKET ANALYSIS
6. 1. FIXED ROOF OIL STORAGE - GLOBAL MARKET OVERVIEW
6. 2. FIXED ROOF OIL STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6. 3. MARKET POSITIONING
7. FIXED ROOF OIL STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7. 1. OVERVIEW
7. 2. TYPE MARKET FORECASTS AND ANALYSIS
7. 3. CRUDE OIL
7. 3. 1. Overview
7. 3. 2. Crude Oil Market Forecast and Analysis
7. 4. GASOLINE
7. 4. 1. Overview
7. 4. 2. Gasoline Market Forecast and Analysis
7. 5. AVIATION FUEL
7. 5. 1. Overview
7. 5. 2. Aviation Fuel Market Forecast and Analysis
7. 6. NAPHTHA
7. 6. 1. Overview
7. 6. 2. Naphtha Market Forecast and Analysis
7. 7. DIESEL
7. 7. 1. Overview
7. 7. 2. Diesel Market Forecast and Analysis
7. 8. OTHERS
7. 8. 1. Overview
7. 8. 2. Others Market Forecast and Analysis
8. FIXED ROOF OIL STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
8. 1. OVERVIEW
8. 2. MATERIAL MARKET FORECASTS AND ANALYSIS
8. 3. STEEL
8. 3. 1. Overview
8. 3. 2. Steel Market Forecast and Analysis
8. 4. CARBON STEEL
8. 4. 1. Overview
8. 4. 2. Carbon Steel Market Forecast and Analysis
8. 5. FIBERGLASS-REINFORCED PLASTIC
8. 5. 1. Overview
8. 5. 2. Fiberglass-reinforced Plastic Market Forecast and Analysis
9. FIXED ROOF OIL STORAGE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9. 1. NORTH AMERICA
9. 1. 1 North America Fixed Roof Oil Storage Market Overview
9. 1. 2 North America Fixed Roof Oil Storage Market Forecasts and Analysis
9. 1. 3 North America Fixed Roof Oil Storage Market Forecasts and Analysis - By Type
9. 1. 4 North America Fixed Roof Oil Storage Market Forecasts and Analysis - By Material
9. 1. 5 North America Fixed Roof Oil Storage Market Forecasts and Analysis - By Countries
9. 1. 5. 1 United States Fixed Roof Oil Storage Market
9. 1. 5. 1. 1 United States Fixed Roof Oil Storage Market by Type
9. 1. 5. 1. 2 United States Fixed Roof Oil Storage Market by Material
9. 1. 5. 2 Canada Fixed Roof Oil Storage Market
9. 1. 5. 2. 1 Canada Fixed Roof Oil Storage Market by Type
9. 1. 5. 2. 2 Canada Fixed Roof Oil Storage Market by Material
9. 1. 5. 3 Mexico Fixed Roof Oil Storage Market
9. 1. 5. 3. 1 Mexico Fixed Roof Oil Storage Market by Type
9. 1. 5. 3. 2 Mexico Fixed Roof Oil Storage Market by Material
9. 2. EUROPE
9. 2. 1 Europe Fixed Roof Oil Storage Market Overview
9. 2. 2 Europe Fixed Roof Oil Storage Market Forecasts and Analysis
9. 2. 3 Europe Fixed Roof Oil Storage Market Forecasts and Analysis - By Type
9. 2. 4 Europe Fixed Roof Oil Storage Market Forecasts and Analysis - By Material
9. 2. 5 Europe Fixed Roof Oil Storage Market Forecasts and Analysis - By Countries
9. 2. 5. 1 Germany Fixed Roof Oil Storage Market
9. 2. 5. 1. 1 Germany Fixed Roof Oil Storage Market by Type
9. 2. 5. 1. 2 Germany Fixed Roof Oil Storage Market by Material
9. 2. 5. 2 France Fixed Roof Oil Storage Market
9. 2. 5. 2. 1 France Fixed Roof Oil Storage Market by Type
9. 2. 5. 2. 2 France Fixed Roof Oil Storage Market by Material
9. 2. 5. 3 Italy Fixed Roof Oil Storage Market
9. 2. 5. 3. 1 Italy Fixed Roof Oil Storage Market by Type
9. 2. 5. 3. 2 Italy Fixed Roof Oil Storage Market by Material
9. 2. 5. 4 United Kingdom Fixed Roof Oil Storage Market
9. 2. 5. 4. 1 United Kingdom Fixed Roof Oil Storage Market by Type
9. 2. 5. 4. 2 United Kingdom Fixed Roof Oil Storage Market by Material
9. 2. 5. 5 Russia Fixed Roof Oil Storage Market
9. 2. 5. 5. 1 Russia Fixed Roof Oil Storage Market by Type
9. 2. 5. 5. 2 Russia Fixed Roof Oil Storage Market by Material
9. 2. 5. 6 Rest of Europe Fixed Roof Oil Storage Market
9. 2. 5. 6. 1 Rest of Europe Fixed Roof Oil Storage Market by Type
9. 2. 5. 6. 2 Rest of Europe Fixed Roof Oil Storage Market by Material
9. 3. ASIA-PACIFIC
9. 3. 1 Asia-Pacific Fixed Roof Oil Storage Market Overview
9. 3. 2 Asia-Pacific Fixed Roof Oil Storage Market Forecasts and Analysis
9. 3. 3 Asia-Pacific Fixed Roof Oil Storage Market Forecasts and Analysis - By Type
9. 3. 4 Asia-Pacific Fixed Roof Oil Storage Market Forecasts and Analysis - By Material
9. 3. 5 Asia-Pacific Fixed Roof Oil Storage Market Forecasts and Analysis - By Countries
9. 3. 5. 1 Australia Fixed Roof Oil Storage Market
9. 3. 5. 1. 1 Australia Fixed Roof Oil Storage Market by Type
9. 3. 5. 1. 2 Australia Fixed Roof Oil Storage Market by Material
9. 3. 5. 2 China Fixed Roof Oil Storage Market
9. 3. 5. 2. 1 China Fixed Roof Oil Storage Market by Type
9. 3. 5. 2. 2 China Fixed Roof Oil Storage Market by Material
9. 3. 5. 3 India Fixed Roof Oil Storage Market
9. 3. 5. 3. 1 India Fixed Roof Oil Storage Market by Type
9. 3. 5. 3. 2 India Fixed Roof Oil Storage Market by Material
9. 3. 5. 4 Japan Fixed Roof Oil Storage Market
9. 3. 5. 4. 1 Japan Fixed Roof Oil Storage Market by Type
9. 3. 5. 4. 2 Japan Fixed Roof Oil Storage Market by Material
9. 3. 5. 5 South Korea Fixed Roof Oil Storage Market
9. 3. 5. 5. 1 South Korea Fixed Roof Oil Storage Market by Type
9. 3. 5. 5. 2 South Korea Fixed Roof Oil Storage Market by Material
9. 3. 5. 6 Rest of Asia-Pacific Fixed Roof Oil Storage Market
9. 3. 5. 6. 1 Rest of Asia-Pacific Fixed Roof Oil Storage Market by Type
9. 3. 5. 6. 2 Rest of Asia-Pacific Fixed Roof Oil Storage Market by Material
9. 4. MIDDLE EAST AND AFRICA
9. 4. 1 Middle East and Africa Fixed Roof Oil Storage Market Overview
9. 4. 2 Middle East and Africa Fixed Roof Oil Storage Market Forecasts and Analysis
9. 4. 3 Middle East and Africa Fixed Roof Oil Storage Market Forecasts and Analysis - By Type
9. 4. 4 Middle East and Africa Fixed Roof Oil Storage Market Forecasts and Analysis - By Material
9. 4. 5 Middle East and Africa Fixed Roof Oil Storage Market Forecasts and Analysis - By Countries
9. 4. 5. 1 South Africa Fixed Roof Oil Storage Market
9. 4. 5. 1. 1 South Africa Fixed Roof Oil Storage Market by Type
9. 4. 5. 1. 2 South Africa Fixed Roof Oil Storage Market by Material
9. 4. 5. 2 Saudi Arabia Fixed Roof Oil Storage Market
9. 4. 5. 2. 1 Saudi Arabia Fixed Roof Oil Storage Market by Type
9. 4. 5. 2. 2 Saudi Arabia Fixed Roof Oil Storage Market by Material
9. 4. 5. 3 U. A. E Fixed Roof Oil Storage Market
9. 4. 5. 3. 1 U. A. E Fixed Roof Oil Storage Market by Type
9. 4. 5. 3. 2 U. A. E Fixed Roof Oil Storage Market by Material
9. 4. 5. 4 Rest of Middle East and Africa Fixed Roof Oil Storage Market
9. 4. 5. 4. 1 Rest of Middle East and Africa Fixed Roof Oil Storage Market by Type
9. 4. 5. 4. 2 Rest of Middle East and Africa Fixed Roof Oil Storage Market by Material
9. 5. SOUTH AND CENTRAL AMERICA
9. 5. 1 South and Central America Fixed Roof Oil Storage Market Overview
9. 5. 2 South and Central America Fixed Roof Oil Storage Market Forecasts and Analysis
9. 5. 3 South and Central America Fixed Roof Oil Storage Market Forecasts and Analysis - By Type
9. 5. 4 South and Central America Fixed Roof Oil Storage Market Forecasts and Analysis - By Material
9. 5. 5 South and Central America Fixed Roof Oil Storage Market Forecasts and Analysis - By Countries
9. 5. 5. 1 Brazil Fixed Roof Oil Storage Market
9. 5. 5. 1. 1 Brazil Fixed Roof Oil Storage Market by Type
9. 5. 5. 1. 2 Brazil Fixed Roof Oil Storage Market by Material
9. 5. 5. 2 Argentina Fixed Roof Oil Storage Market
9. 5. 5. 2. 1 Argentina Fixed Roof Oil Storage Market by Type
9. 5. 5. 2. 2 Argentina Fixed Roof Oil Storage Market by Material
9. 5. 5. 3 Rest of South and Central America Fixed Roof Oil Storage Market
9. 5. 5. 3. 1 Rest of South and Central America Fixed Roof Oil Storage Market by Type
9. 5. 5. 3. 2 Rest of South and Central America Fixed Roof Oil Storage Market by Material
10. INDUSTRY LANDSCAPE
10. 1. MERGERS AND ACQUISITIONS
10. 2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10. 3. NEW PRODUCT LAUNCHES
10. 4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. FIXED ROOF OIL STORAGE MARKET, KEY COMPANY PROFILES
11. 1. BELCO MANUFACTURING CO. , INC
11. 1. 1. Key Facts
11. 1. 2. Business Description
11. 1. 3. Products and Services
11. 1. 4. Financial Overview
11. 1. 5. SWOT Analysis
11. 1. 6. Key Developments
11. 2. BROOGE ENERGY
11. 2. 1. Key Facts
11. 2. 2. Business Description
11. 2. 3. Products and Services
11. 2. 4. Financial Overview
11. 2. 5. SWOT Analysis
11. 2. 6. Key Developments
11. 3. CONTAINMENT SOLUTIONS, INC
11. 3. 1. Key Facts
11. 3. 2. Business Description
11. 3. 3. Products and Services
11. 3. 4. Financial Overview
11. 3. 5. SWOT Analysis
11. 3. 6. Key Developments
11. 4. LBC TANK TERMINALS
11. 4. 1. Key Facts
11. 4. 2. Business Description
11. 4. 3. Products and Services
11. 4. 4. Financial Overview
11. 4. 5. SWOT Analysis
11. 4. 6. Key Developments
11. 5. L. F. MANUFACTURING, INC.
11. 5. 1. Key Facts
11. 5. 2. Business Description
11. 5. 3. Products and Services
11. 5. 4. Financial Overview
11. 5. 5. SWOT Analysis
11. 5. 6. Key Developments
11. 6. OILTANKING GMBH
11. 6. 1. Key Facts
11. 6. 2. Business Description
11. 6. 3. Products and Services
11. 6. 4. Financial Overview
11. 6. 5. SWOT Analysis
11. 6. 6. Key Developments
11. 7. ODFJELL SE
11. 7. 1. Key Facts
11. 7. 2. Business Description
11. 7. 3. Products and Services
11. 7. 4. Financial Overview
11. 7. 5. SWOT Analysis
11. 7. 6. Key Developments
11. 8. PUMA ENERGY
11. 8. 1. Key Facts
11. 8. 2. Business Description
11. 8. 3. Products and Services
11. 8. 4. Financial Overview
11. 8. 5. SWOT Analysis
11. 8. 6. Key Developments
11. 9. ROYAL VOPAK
11. 9. 1. Key Facts
11. 9. 2. Business Description
11. 9. 3. Products and Services
11. 9. 4. Financial Overview
11. 9. 5. SWOT Analysis
11. 9. 6. Key Developments
11. 10. VITOL
11. 10. 1. Key Facts
11. 10. 2. Business Description
11. 10. 3. Products and Services
11. 10. 4. Financial Overview
11. 10. 5. SWOT Analysis
11. 10. 6. Key Developments
12. APPENDIX
12. 1. ABOUT THE INSIGHT PARTNERS
12. 2. GLOSSARY OF TERMS
The List Of Companies
- Belco manufacturing co. , Inc
- Brooge Energy
- Containment Solutions, Inc
- LBC Tank Terminals
- L. F. Manufacturing, Inc.
- Oiltanking GmbH
- Odfjell SE
- Puma Energy
- Royal Vopak
- Vitol
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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