Off-road Tires Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Off-road Tires Market covers analysis By Tire Height (Below 30 Inches, 30-40 Inches, 40-45 Inches, Above 45 Inches); Distribution Channel (OEM, Aftermarket); Application (4WD HDT, SUV, UTV, Dirt Bikes and Quad, OTR, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00015313
  • Category : Automotive and Transportation
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

Off-road tires are a type of tires that use deep tread to provide more traction on unpaved surfaces such as loose dirt, sand, mud, and gravel. The growing construction activities across the globe, coupled with the government subsidies on agriculture equipment and increasing farm mechanization, are some of the major factors driving the growth of the off-road tires market. Moreover, proliferating construction and mining sectors in emerging countries such as India, China, Japan, and others are expected to propel the off-road tires market growth.

MARKET DYNAMICS

The swift adoption of ATV & UTV in various commercial and personal applications results in the increase in these vehicle productions, which fueling the growth off-road tires market growth. However, fluctuating raw material prices may restraint the off-road tires market growth over the forecast period. Further, rising AWD/4WD vehicles and off-road trailing activities coupled with the improving economic conditions and growing recreational spending are expected to offer lucrative growth opportunities for the off-road tires market growth in the upcoming years.

MARKET SCOPE

The "Global Off-road Tires Market Analysis to 2028" is a specialized and in-depth study of the off-road tires industry with a special focus on the global market trend analysis. The report aims to provide an overview off-road tires market with detailed market segmentation as tire height, distribution channel, application, and geography. The global off-road tires market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading off-road tires market players and offers key trends and opportunities in the off-road tires market.

MARKET SEGMENTATION

The global off-road tires market is segmented on the basis of tire height, distribution channel, application. On the basis of tire height the market is segmented as below 30 inches, 30-40 inches, 40-45 inches, above 45 inches. On the basis of distribution channel the market is segmented as OEM, aftermarket. On the basis of application the market is segmented as 4WD HDT, SUV, UTV, dirt bikes and quad, OTR, others.

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 Off-road tires market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The off-road tires 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 off-road tires 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 off-road tires market in these regions.

World Geography

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Off-road tires market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The off-road tires 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 off-road tires 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 off-road tires market in these regions.

MARKET PLAYERS

The reports cover key developments in the off-road tires 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 off-road tires market are anticipated to lucrative growth opportunities in the future with the rising demand for off-road tires in the global market. Below mentioned is the list of few companies engaged in the off-road tires market.

The report also includes the profiles of key off-road tires 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.

  •   Apollo Tyres Limited
  •   Bridgestone Corporation
  •   Continental AG
  •   Cooper Tire & Rubber Company
  •   Hankook Tire & Technology Group
  •   Michelin
  •   Pirelli & C. S.p.A.
  •   The Goodyear Tire & Rubber Company
  •   Toyo Tire Corporation
  •   Yokohama Tire Corporation

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
  • 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
Report Coverage

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

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

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

Country Scope
Country Scope

This text is related
to country scope.

TABLE OF CONTENTS

1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Off-road Tires Market - By Tire Height
1.3.2Off-road Tires Market - By Distribution Channel
1.3.3Off-road Tires Market - By Application
1.3.4Off-road Tires Market - By Region
1.3.4.1By Country

2.KEY TAKEAWAYS

3.RESEARCH METHODOLOGY

4.OFF-ROAD TIRES MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS

5.OFF-ROAD TIRES 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.OFF-ROAD TIRES MARKET - GLOBAL MARKET ANALYSIS
6.1.OFF-ROAD TIRES - GLOBAL MARKET OVERVIEW
6.2.OFF-ROAD TIRES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE

7.OFF-ROAD TIRES MARKET - REVENUE AND FORECASTS TO 2028 TIRE HEIGHT
7.1.OVERVIEW
7.2.TIRE HEIGHT MARKET FORECASTS AND ANALYSIS
7.3.BELOW 30 INCHES
7.3.1.Overview
7.3.2.Below 30 Inches Market Forecast and Analysis
7.4.30-40 INCHES
7.4.1.Overview
7.4.2.30-40 Inches Market Forecast and Analysis
7.5.40-45 INCHES
7.5.1.Overview
7.5.2.40-45 Inches Market Forecast and Analysis
7.6.ABOVE 45 INCHES
7.6.1.Overview
7.6.2.Above 45 Inches Market Forecast and Analysis
8.OFF-ROAD TIRES MARKET - REVENUE AND FORECASTS TO 2028 DISTRIBUTION CHANNEL
8.1.OVERVIEW
8.2.DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3.OEM
8.3.1.Overview
8.3.2.OEM Market Forecast and Analysis
8.4.AFTERMARKET
8.4.1.Overview
8.4.2.Aftermarket Market Forecast and Analysis
9.OFF-ROAD TIRES MARKET - REVENUE AND FORECASTS TO 2028 APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.4WD HDT
9.3.1.Overview
9.3.2.4WD HDT Market Forecast and Analysis
9.4.SUV
9.4.1.Overview
9.4.2.SUV Market Forecast and Analysis
9.5.UTV
9.5.1.Overview
9.5.2.UTV Market Forecast and Analysis
9.6.DIRT BIKES AND QUAD
9.6.1.Overview
9.6.2.Dirt Bikes and Quad Market Forecast and Analysis
9.7.OTR
9.7.1.Overview
9.7.2.OTR Market Forecast and Analysis
9.8.OTHERS
9.8.1.Overview
9.8.2.Others Market Forecast and Analysis

10.OFF-ROAD TIRES MARKET REVENUE AND FORECASTS TO 2028 GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Off-road Tires Market Overview
10.1.2North America Off-road Tires Market Forecasts and Analysis
10.1.3North America Off-road Tires Market Forecasts and Analysis - By Tire Height
10.1.4North America Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.1.5North America Off-road Tires Market Forecasts and Analysis - By Application
10.1.6North America Off-road Tires Market Forecasts and Analysis - By Countries
10.1.6.1United States Off-road Tires Market
10.1.6.1.1United States Off-road Tires Market by Tire Height
10.1.6.1.2United States Off-road Tires Market by Distribution Channel
10.1.6.1.3United States Off-road Tires Market by Application
10.1.6.2Canada Off-road Tires Market
10.1.6.2.1Canada Off-road Tires Market by Tire Height
10.1.6.2.2Canada Off-road Tires Market by Distribution Channel
10.1.6.2.3Canada Off-road Tires Market by Application
10.1.6.3Mexico Off-road Tires Market
10.1.6.3.1Mexico Off-road Tires Market by Tire Height
10.1.6.3.2Mexico Off-road Tires Market by Distribution Channel
10.1.6.3.3Mexico Off-road Tires Market by Application
10.2.EUROPE
10.2.1Europe Off-road Tires Market Overview
10.2.2Europe Off-road Tires Market Forecasts and Analysis
10.2.3Europe Off-road Tires Market Forecasts and Analysis - By Tire Height
10.2.4Europe Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.2.5Europe Off-road Tires Market Forecasts and Analysis - By Application
10.2.6Europe Off-road Tires Market Forecasts and Analysis - By Countries
10.2.6.1Germany Off-road Tires Market
10.2.6.1.1Germany Off-road Tires Market by Tire Height
10.2.6.1.2Germany Off-road Tires Market by Distribution Channel
10.2.6.1.3Germany Off-road Tires Market by Application
10.2.6.2France Off-road Tires Market
10.2.6.2.1France Off-road Tires Market by Tire Height
10.2.6.2.2France Off-road Tires Market by Distribution Channel
10.2.6.2.3France Off-road Tires Market by Application
10.2.6.3Italy Off-road Tires Market
10.2.6.3.1Italy Off-road Tires Market by Tire Height
10.2.6.3.2Italy Off-road Tires Market by Distribution Channel
10.2.6.3.3Italy Off-road Tires Market by Application
10.2.6.4United Kingdom Off-road Tires Market
10.2.6.4.1United Kingdom Off-road Tires Market by Tire Height
10.2.6.4.2United Kingdom Off-road Tires Market by Distribution Channel
10.2.6.4.3United Kingdom Off-road Tires Market by Application
10.2.6.5Russia Off-road Tires Market
10.2.6.5.1Russia Off-road Tires Market by Tire Height
10.2.6.5.2Russia Off-road Tires Market by Distribution Channel
10.2.6.5.3Russia Off-road Tires Market by Application
10.2.6.6Rest of Europe Off-road Tires Market
10.2.6.6.1Rest of Europe Off-road Tires Market by Tire Height
10.2.6.6.2Rest of Europe Off-road Tires Market by Distribution Channel
10.2.6.6.3Rest of Europe Off-road Tires Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Off-road Tires Market Overview
10.3.2Asia-Pacific Off-road Tires Market Forecasts and Analysis
10.3.3Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Tire Height
10.3.4Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.3.5Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Off-road Tires Market Forecasts and Analysis - By Countries
10.3.6.1Australia Off-road Tires Market
10.3.6.1.1Australia Off-road Tires Market by Tire Height
10.3.6.1.2Australia Off-road Tires Market by Distribution Channel
10.3.6.1.3Australia Off-road Tires Market by Application
10.3.6.2China Off-road Tires Market
10.3.6.2.1China Off-road Tires Market by Tire Height
10.3.6.2.2China Off-road Tires Market by Distribution Channel
10.3.6.2.3China Off-road Tires Market by Application
10.3.6.3India Off-road Tires Market
10.3.6.3.1India Off-road Tires Market by Tire Height
10.3.6.3.2India Off-road Tires Market by Distribution Channel
10.3.6.3.3India Off-road Tires Market by Application
10.3.6.4Japan Off-road Tires Market
10.3.6.4.1Japan Off-road Tires Market by Tire Height
10.3.6.4.2Japan Off-road Tires Market by Distribution Channel
10.3.6.4.3Japan Off-road Tires Market by Application
10.3.6.5South Korea Off-road Tires Market
10.3.6.5.1South Korea Off-road Tires Market by Tire Height
10.3.6.5.2South Korea Off-road Tires Market by Distribution Channel
10.3.6.5.3South Korea Off-road Tires Market by Application
10.3.6.6Rest of Asia-Pacific Off-road Tires Market
10.3.6.6.1Rest of Asia-Pacific Off-road Tires Market by Tire Height
10.3.6.6.2Rest of Asia-Pacific Off-road Tires Market by Distribution Channel
10.3.6.6.3Rest of Asia-Pacific Off-road Tires Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Off-road Tires Market Overview
10.4.2Middle East and Africa Off-road Tires Market Forecasts and Analysis
10.4.3Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Tire Height
10.4.4Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.4.5Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Off-road Tires Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Off-road Tires Market
10.4.6.1.1South Africa Off-road Tires Market by Tire Height
10.4.6.1.2South Africa Off-road Tires Market by Distribution Channel
10.4.6.1.3South Africa Off-road Tires Market by Application
10.4.6.2Saudi Arabia Off-road Tires Market
10.4.6.2.1Saudi Arabia Off-road Tires Market by Tire Height
10.4.6.2.2Saudi Arabia Off-road Tires Market by Distribution Channel
10.4.6.2.3Saudi Arabia Off-road Tires Market by Application
10.4.6.3U.A.E Off-road Tires Market
10.4.6.3.1U.A.E Off-road Tires Market by Tire Height
10.4.6.3.2U.A.E Off-road Tires Market by Distribution Channel
10.4.6.3.3U.A.E Off-road Tires Market by Application
10.4.6.4Rest of Middle East and Africa Off-road Tires Market
10.4.6.4.1Rest of Middle East and Africa Off-road Tires Market by Tire Height
10.4.6.4.2Rest of Middle East and Africa Off-road Tires Market by Distribution Channel
10.4.6.4.3Rest of Middle East and Africa Off-road Tires Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Off-road Tires Market Overview
10.5.2South and Central America Off-road Tires Market Forecasts and Analysis
10.5.3South and Central America Off-road Tires Market Forecasts and Analysis - By Tire Height
10.5.4South and Central America Off-road Tires Market Forecasts and Analysis - By Distribution Channel
10.5.5South and Central America Off-road Tires Market Forecasts and Analysis - By Application
10.5.6South and Central America Off-road Tires Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Off-road Tires Market
10.5.6.1.1Brazil Off-road Tires Market by Tire Height
10.5.6.1.2Brazil Off-road Tires Market by Distribution Channel
10.5.6.1.3Brazil Off-road Tires Market by Application
10.5.6.2Argentina Off-road Tires Market
10.5.6.2.1Argentina Off-road Tires Market by Tire Height
10.5.6.2.2Argentina Off-road Tires Market by Distribution Channel
10.5.6.2.3Argentina Off-road Tires Market by Application
10.5.6.3Rest of South and Central America Off-road Tires Market
10.5.6.3.1Rest of South and Central America Off-road Tires Market by Tire Height
10.5.6.3.2Rest of South and Central America Off-road Tires Market by Distribution Channel
10.5.6.3.3Rest of South and Central America Off-road Tires Market by Application

11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

12.OFF-ROAD TIRES MARKET, KEY COMPANY PROFILES
12.1.APOLLO TYRES LIMITED
12.1.1.Key Facts
12.1.2.Business Description
12.1.3.Products and Services
12.1.4.Financial Overview
12.1.5.SWOT Analysis
12.1.6.Key Developments
12.2.BRIDGESTONE CORPORATION
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.CONTINENTAL AG
12.3.1.Key Facts
12.3.2.Business Description
12.3.3.Products and Services
12.3.4.Financial Overview
12.3.5.SWOT Analysis
12.3.6.Key Developments
12.4.COOPER TIRE AND RUBBER COMPANY
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.HANKOOK TIRE AND TECHNOLOGY GROUP
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.MICHELIN PIRELLI AND C. S.P.A.
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.THE GOODYEAR TIRE AND RUBBER COMPANY
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.TOYO TIRE CORPORATION
12.8.1.Key Facts
12.8.2.Business Description
12.8.3.Products and Services
12.8.4.Financial Overview
12.8.5.SWOT Analysis
12.8.6.Key Developments
12.9.YOKOHAMA TIRE CORPORATION
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments

13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
The List of Companies

1. Apollo Tyres Limited
2. Bridgestone Corporation
3. Continental AG
4. Cooper Tire and Rubber Company
5. Hankook Tire and Technology Group
6. Michelin Pirelli and C. S.p.A.
7. The Goodyear Tire and Rubber Company
8. Toyo Tire Corporation
9. Yokohama Tire Corporation

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

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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