Liquid air energy storage (LAES) has recently emerged as feasible solution to provide 10-100s MW power output and a storage capacity of GWhs. High energy density and ease of deployment are only two of the many favourable features of LAES, when compared to incumbent storage technologies. The round-trip efficiency is very low as compared to pumped hydro and chemical storage in large scale energy storage. Furthermore, pumped hydro energy storage (PHES) is best for large scale energy storage systems. Also, PHES has the largest capacity of storage highest efficiency as compared to all other energy storage technologies.
MARKET DYNAMICS
The market is primarily driven by its low operating and capital costs. Liquid air energy storage is a high-grade cold store technology that makes use of low-pressure devices and granite shingles (a cost effective and widely available material), which helps in reducing the overall cost of maintenance and offers long life. It also uses a discharge device that comprises a standard gearbox, which helps in cost reduction. Moreover, the governments of different countries are offering their support to promote the advancement and implantation of this technology. The government of U.K. is supporting companies such as Highview Power and Viridor and has invested in several projects to drive the research, development, and commercialization of liquid air energy storage.
MARKET SCOPE
The "Global Liquid Air Energy Storage Market Analysis to 2028" is a specialized and in-depth study of the Liquid Air Energy Storage market with a special focus on the global market trend analysis. The report aims to provide an overview of the Liquid Air Energy Storage market with detailed market segmentation by capacity, application, and geography. The global liquid air energy storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading liquid air energy storage market players and offers key trends and opportunities in the liquid air energy storage market.
MARKET SEGMENTATION
The global liquid air energy storage market is segmented based on capacity and application. Based on its capacity, liquid air energy storage market can be segmented into 5-15 MW capacity, 16-50 MW capacity, 50-100 MW capacity and 100 MW+ capacity. Based on operation, liquid air energy storage market can be segmented into power generation, power transmission, renewable integration, LNG terminals and others.
.
IMPACT OF COVID-19 ON LIQUID AIR ENERGY STORAGE MARKET
The blockade imposed by the COVID-19 pandemic has temporarily banned import / export, manufacturing and processing activities in various industries and utilities, reducing electricity demand from these consumers. In addition, the construction and freezing of new power infrastructure, renewable power plants, grids and other power plants due to labor unavailability and widening supply-demand gaps is projected to impede market growth during the pandemic.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Liquid Air Energy Storage Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Liquid Air Energy Storage Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Liquid Air Energy Storage Market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the Liquid Air Energy Storage market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Liquid Air Energy Storage Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Liquid Air Energy Storage Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Liquid Air Energy Storage Market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the Liquid Air Energy Storage market in these regions.
MARKET PLAYERS
The reports cover key developments in the Liquid Air Energy Storage market as 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 market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Liquid Air Energy Storage market are anticipated to lucrative growth opportunities in the future with the rising demand for Liquid Air Energy Storage market. Below mentioned is the list of few companies engaged in the Liquid Air Energy Storage market.
The report also includes the profiles of key Liquid Air Energy Storage market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Highview Power
- Baker Hughes Company
- Heatric
- Linde Kryotechnik AG
- Viridor Limited
- MAN Energy Solutions
- Sumitomo Heavy Industries, Ltd. and Sumitomo SHI FW
- General Electric
- ADA Technologies, Inc.
- Climeworks GmbH
- 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 LIQUID AIR ENERGY STORAGE MARKET - By Capacity
1.3.2 LIQUID AIR ENERGY STORAGE MARKET - By Application
1.3.3 LIQUID AIR ENERGY STORAGE MARKET - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LIQUID AIR ENERGY STORAGE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. LIQUID AIR ENERGY 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. LIQUID AIR ENERGY STORAGE MARKET - GLOBAL MARKET ANALYSIS
6.1. LIQUID AIR ENERGY STORAGE - GLOBAL MARKET OVERVIEW
6.2. LIQUID AIR ENERGY STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LIQUID AIR ENERGY STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
7.1. OVERVIEW
7.2. CAPACITY MARKET FORECASTS AND ANALYSIS
7.3. 5-15 MW CAPACITY
7.3.1. Overview
7.3.2. 5-15 MW Capacity Market Forecast and Analysis
7.4. 16-50 MW CAPACITY
7.4.1. Overview
7.4.2. 16-50 MW Capacity Market Forecast and Analysis
7.5. 50-100 MW CAPACITY
7.5.1. Overview
7.5.2. 50-100 MW Capacity Market Forecast and Analysis
7.6. 100 MW+ CAPACITY
7.6.1. Overview
7.6.2. 100 MW+ Capacity Market Forecast and Analysis
8. LIQUID AIR ENERGY STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. POWER GENERATION
8.3.1. Overview
8.3.2. Power Generation Market Forecast and Analysis
8.4. POWER TRANSMISSION
8.4.1. Overview
8.4.2. Power Transmission Market Forecast and Analysis
8.5. RENEWABLE INTEGRATION
8.5.1. Overview
8.5.2. Renewable Integration Market Forecast and Analysis
8.6. LNG TERMINALS
8.6.1. Overview
8.6.2. LNG Terminals Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. LIQUID AIR ENERGY STORAGE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America LIQUID AIR ENERGY STORAGE MARKET Overview
9.1.2 North America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis
9.1.3 North America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Capacity
9.1.4 North America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Application
9.1.5 North America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Countries
9.1.5.1 United States LIQUID AIR ENERGY STORAGE MARKET
9.1.5.1.1 United States LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.1.5.1.2 United States LIQUID AIR ENERGY STORAGE MARKET by Application
9.1.5.2 Canada LIQUID AIR ENERGY STORAGE MARKET
9.1.5.2.1 Canada LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.1.5.2.2 Canada LIQUID AIR ENERGY STORAGE MARKET by Application
9.1.5.3 Mexico LIQUID AIR ENERGY STORAGE MARKET
9.1.5.3.1 Mexico LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.1.5.3.2 Mexico LIQUID AIR ENERGY STORAGE MARKET by Application
9.2. EUROPE
9.2.1 Europe LIQUID AIR ENERGY STORAGE MARKET Overview
9.2.2 Europe LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis
9.2.3 Europe LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Capacity
9.2.4 Europe LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Application
9.2.5 Europe LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Countries
9.2.5.1 Germany LIQUID AIR ENERGY STORAGE MARKET
9.2.5.1.1 Germany LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.2.5.1.2 Germany LIQUID AIR ENERGY STORAGE MARKET by Application
9.2.5.2 France LIQUID AIR ENERGY STORAGE MARKET
9.2.5.2.1 France LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.2.5.2.2 France LIQUID AIR ENERGY STORAGE MARKET by Application
9.2.5.3 Italy LIQUID AIR ENERGY STORAGE MARKET
9.2.5.3.1 Italy LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.2.5.3.2 Italy LIQUID AIR ENERGY STORAGE MARKET by Application
9.2.5.4 United Kingdom LIQUID AIR ENERGY STORAGE MARKET
9.2.5.4.1 United Kingdom LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.2.5.4.2 United Kingdom LIQUID AIR ENERGY STORAGE MARKET by Application
9.2.5.5 Russia LIQUID AIR ENERGY STORAGE MARKET
9.2.5.5.1 Russia LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.2.5.5.2 Russia LIQUID AIR ENERGY STORAGE MARKET by Application
9.2.5.6 Rest of Europe LIQUID AIR ENERGY STORAGE MARKET
9.2.5.6.1 Rest of Europe LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.2.5.6.2 Rest of Europe LIQUID AIR ENERGY STORAGE MARKET by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET Overview
9.3.2 Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis
9.3.3 Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Capacity
9.3.4 Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Application
9.3.5 Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Countries
9.3.5.1 Australia LIQUID AIR ENERGY STORAGE MARKET
9.3.5.1.1 Australia LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.3.5.1.2 Australia LIQUID AIR ENERGY STORAGE MARKET by Application
9.3.5.2 China LIQUID AIR ENERGY STORAGE MARKET
9.3.5.2.1 China LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.3.5.2.2 China LIQUID AIR ENERGY STORAGE MARKET by Application
9.3.5.3 India LIQUID AIR ENERGY STORAGE MARKET
9.3.5.3.1 India LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.3.5.3.2 India LIQUID AIR ENERGY STORAGE MARKET by Application
9.3.5.4 Japan LIQUID AIR ENERGY STORAGE MARKET
9.3.5.4.1 Japan LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.3.5.4.2 Japan LIQUID AIR ENERGY STORAGE MARKET by Application
9.3.5.5 South Korea LIQUID AIR ENERGY STORAGE MARKET
9.3.5.5.1 South Korea LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.3.5.5.2 South Korea LIQUID AIR ENERGY STORAGE MARKET by Application
9.3.5.6 Rest of Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET
9.3.5.6.1 Rest of Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.3.5.6.2 Rest of Asia-Pacific LIQUID AIR ENERGY STORAGE MARKET by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa LIQUID AIR ENERGY STORAGE MARKET Overview
9.4.2 Middle East and Africa LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis
9.4.3 Middle East and Africa LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Capacity
9.4.4 Middle East and Africa LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Application
9.4.5 Middle East and Africa LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Countries
9.4.5.1 South Africa LIQUID AIR ENERGY STORAGE MARKET
9.4.5.1.1 South Africa LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.4.5.1.2 South Africa LIQUID AIR ENERGY STORAGE MARKET by Application
9.4.5.2 Saudi Arabia LIQUID AIR ENERGY STORAGE MARKET
9.4.5.2.1 Saudi Arabia LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.4.5.2.2 Saudi Arabia LIQUID AIR ENERGY STORAGE MARKET by Application
9.4.5.3 U.A.E LIQUID AIR ENERGY STORAGE MARKET
9.4.5.3.1 U.A.E LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.4.5.3.2 U.A.E LIQUID AIR ENERGY STORAGE MARKET by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America LIQUID AIR ENERGY STORAGE MARKET Overview
9.5.2 South and Central America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis
9.5.3 South and Central America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Capacity
9.5.4 South and Central America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Application
9.5.5 South and Central America LIQUID AIR ENERGY STORAGE MARKET Forecasts and Analysis - By Countries
9.5.5.1 Brazil LIQUID AIR ENERGY STORAGE MARKET
9.5.5.1.1 Brazil LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.5.5.1.2 Brazil LIQUID AIR ENERGY STORAGE MARKET by Application
9.5.5.2 Argentina LIQUID AIR ENERGY STORAGE MARKET
9.5.5.2.1 Argentina LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.5.5.2.2 Argentina LIQUID AIR ENERGY STORAGE MARKET by Application
9.5.5.3 Rest of South and Central America LIQUID AIR ENERGY STORAGE MARKET
9.5.5.3.1 Rest of South and Central America LIQUID AIR ENERGY STORAGE MARKET by Capacity
9.5.5.3.2 Rest of South and Central America LIQUID AIR ENERGY STORAGE MARKET by Application
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. LIQUID AIR ENERGY STORAGE MARKET, KEY COMPANY PROFILES
11.1. HIGHVIEW POWER
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. BAKER HUGHES COMPANY
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. HEATRIC
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. LINDE KRYOTECHNIK AG
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. VIRIDOR LIMITED
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. MAN ENERGY SOLUTIONS
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. SUMITOMO HEAVY INDUSTRIES, LTD. AND SUMITOMO SHI FW
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. GENERAL ELECTRIC
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. ADA TECHNOLOGIES, INC
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. CLIMEWORKS GMBH
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
1.Highview Power
2.Baker Hughes Company
3.Heatric
4.Linde Kryotechnik AG
5.Viridor Limited
6.MAN Energy Solutions
7.Sumitomo Heavy Industries, Ltd. and Sumitomo SHI FW
8.General Electric
9.ADA Technologies, Inc
10.Climeworks GmbH
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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