Solid Fuel Market Growth Report – Size, Share & Forecasts 2028

Solid Fuel Market Forecast to 2028 - Global Analysis By Fuel Type (Petcoke/Flexicoke, Anthracite, Metallurgical Coke, and Coal)

  • Report Code : TIPRE00029607
  • Category : Energy and Power
  • Status : Published
  • No. of Pages : 173
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[Research Report] The solid fuel market is expected to grow from US$ 389.14 billion in 2022 to US$ 401.54 billion by 2028; it is expected to record a CAGR of 0.5% during 2022–2028.

Rising use of coal due to the establishment of refineries is driving the solid fuel market. Current refineries and combinations of refinery by-products and coal are used to produce an array of end products such as gasoline, carbon anodes, jet fuel, and heating oil. With many refineries, the demand for coal as an energy source has increased. The following table shows the number of operational petroleum refineries in 2021 based on region.

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The US, China, Russia, and India have the largest oil refinery capacities. Asia Pacific is a shelter for the greatest number of operational petroleum refineries. There were around 316 operational petroleum refineries in the region as of 2021. Based on capacity, China National Petroleum Corp, China Petrochemical Corp, Saudi Arabian Oil Co, Valero Energy Corp, and Exxon Mobil Corp were the leading five oil refining companies across the world in 2021. The presence of many refineries drives the demand for solid fuels, bolstering the solid fuel market size.

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Solid Fuel Market: Strategic Insights

solid-fuel-market
Market Size Value inUS$ 389.14 billion in 2022
Market Size Value byUS$ 401.54 billion by 2028
Growth rateCAGR of 0.5% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Solid Fuel Market Growth

 

The COVID-19 outbreak significantly affected most industries across the globe. The pandemic has been a major factor in slowing the progress toward universal energy access. Approximately 733 million individuals do not have access to electricity globally, and nearly 2.4 billion individuals still use fuels for cooking purposes. Considering the current rate of progress, over 650 million people will remain without electricity by 2030. Due to the imposition of lockdown measures, the pandemic significantly lessened the electricity demand in the industrial and commercial sectors in 2021.

From late 2020 and early 2021, the economies started recovering from COVID-19 pandemic effects. The energy demand is growing as the global economies are regaining their businesses after lockdown measures. This factor is projected to impact solid fuel market penetration gradually and positively. The recovery phase of COVID-19 pandemic is projected to fuel industrial and commercial demand for electricity, easing many of the problems witnessed during the pandemic. This factor will fuel the growth of the solid fuel market.

Lucrative Regions for Solid Fuel Market

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Market Insights – Solid Fuel Market

Rising use of anthracite is expected to bolster the solid fuel market size in the coming years. A few statistics on anthracite and its use and availability in various countries are given below:

  • In the US, the fuel accounted for <1% of the coal mined in 2021. All anthracite mines in the US are in northeastern Pennsylvania. In the country, anthracite is majorly used in the metals industry.
  • The US is a top country in terms of anthracite and bituminous coal reserves globally. As of 2020, the country’s anthracite and bituminous coal reserves were approximately 218,938 million metric tons, ~29.50% of the global reserves of anthracite and bituminous coal.

Currently, China holds the largest share of the world’s anthracite production, accounting for over ¾ quarters of the global output. Most of the Chinese production is standard-grade anthracite, which is utilized for power generation. Thus, the use of anthracite for power generation contributes to the solid fuel market growth.

Fuel Type-Based Insights

Based on fuel type, the solid fuel market is segmented into petcoke/flexicoke, anthracite, metallurgical coke, and coal. The petcoke/flexicoke segment is expected to register the highest CAGR during 2022–2028.

Petcoke, also known as petroleum coke, is a byproduct of all types of oil refining. Petcoke is used as raw material for the manufacturing of graphite electrodes. Thus, with an increase in the manufacturing of graphite electrodes for steel fabricating, the demand for petcoke is also projected to propel. Moreover, in 2017, the US government passed an order saying “petcoke should be utilized only in industries where sulfur is absorbed in manufacturing processes of cement, gasification plants, and lime.” (EPCA 2018). Thus, such initiatives by the government fuel the solid fuel market size.

The lime industry is one of the end users of flexicoke solid fuel. In India, the construction industry is expanding exponentially. Hence, the demand for construction-related products such as gypsum and lime products are rising. Gypsum and lime products are key materials during the construction process; therefore, the quality of the products plays a key role in safety and durability of the structures. J.K. Cement Ltd, UltraTech Cement Limited, JK Lakshmi Cement Ltd., Ambuja Cements Ltd., ACC Limited, and Bharat Heavy Electricals Limited are among the leading players in terms of lime and gypsum products in India. Thus, rising use of lime for construction industry positively propels the solid fuel market growth.

Based on geography, the solid fuel market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Indian Oil Corp Ltd, Exxon Mobil Corp, RESORBENT Sro, JH CARBON PTY LTD, Essar Global Fund Ltd, BP Plc, Lukoil Oil Co, Valero Energy Corp, Phillips 66, and Hargreaves (UK) Services Ltd are among the key solid fuel market players.

The solid fuel market players mainly focus on tailor-made solutions to create customer value.

  • In 2023, BP Plc  launched the green hydrogen cluster of the Valencia region (HyVal) at its Castellón refinery. Led by BP Plc, this public–private collaborative initiative is intended to be based around the phased development of up to 2GW of electrolysis capacity by 2030 for producing green hydrogen at BP Plc’s refinery.
  • In 2022, BP Plc acquired Archaea Energy Inc. a renewable natural gas (“RNG”) company for $26 per Archaea Class A and Class B share in cash, or a total enterprise value of approximately $4.1 billion, including approximately $800 million of net debt.
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Fuel Type

Regional Scope
Regional Scope

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

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, Saudi Arabia, South Africa, South Korea, UAE, United Kingdom, United States

Frequently Asked Questions


What will be the global market size for solid fuel market by 2028?

The estimated global market size for the solid fuel market is US$ 401.54 Bn by 2028.

What is the incremental growth of the solid fuel market during the forecast period?

The US$ 123.92 Bn is the incremental growth of the solid fuel market during the forecast period.

What are the driving factors impacting the global solid fuel market?

1. Use of Coal Across Different Countries.
2. Establishment of Refineries Driving Use of Coal

What is the estimated global market size for the solid fuel market in 2022?

The estimated global market size for the solid fuel market is US$ 389.14 Bn in 2022.

Which are the key players holding the major market share of solid fuel market?

The major companies in solid fuel market includes BP Plc, Valero Energy Corporation, PJSC Lukoil, Indian Oil Corporation, and Philips 66.

Which is the leading fuel type segment in the solid fuel market?

The metallurgical coke segment led the solid fuel market with more than 40% share in 2021. It is further expected to dominate the market share over the forecast period.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Solid Fuel Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 APAC

4.2.4 MEA

4.2.5 SAM

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Solid Fuel Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Use of Coal Across Different Countries

5.1.2 Establishment of Refineries Driving Use of Coal

5.2 Market Restraints

5.2.1 Availability of Coal Substitutes

5.2.2 Government Mandates for Limiting Greenhouse Gas Emissions

5.3 Market Opportunities

5.3.1 Development and Expansion of Refineries

5.4 Future Trends

5.4.1 Rising Demand for Petcoke

5.5 Impact Analysis of Drivers and Restraints

6. Solid Fuel Market – Global Market Analysis

6.1 Global Solid Fuel Market Overview

6.2 Global Solid Fuel Market Revenue Forecast and Analysis

6.3 Market Positioning – Five Key Players

7. Solid Fuel Market Analysis – By Fuel Type

7.1 Overview

7.2 Solid Fuel Market, By Fuel Type (2021 and 2028)

7.3 Petcoke/Flexicoke

7.3.1 Overview

7.3.2 Petcoke/Flexicoke: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.3.3 Cement

7.3.3.1 Cement: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.3.4 Lime Kilns

7.3.4.1 Lime Kilns: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.3.5 Gasification Units

7.3.5.1 Gasification Units: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.3.6 Industrial Boilers

7.3.6.1 Industrial Boilers: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Anthracite

7.4.1 Overview

7.4.2 Anthracite: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Metallurgical Coke

7.5.1 Overview

7.5.2 Metallurgical Coke: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.5.3 Iron & Steel

7.5.3.1 Iron & Steel: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.5.4 Glass

7.5.4.1 Glass: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.5.5 Others

7.5.5.1 Others: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.6 Coal

7.6.1 Overview

7.6.2 Coal: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.6.3 Thermal

7.6.3.1 Thermal: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

7.6.4 Metallurgical

7.6.4.1 Metallurgical: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8. Solid Fuel Market – Geographic Analysis

8.1 Overview

8.2 North America: Solid Fuel Market

8.2.1 North America: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.2.2 North America: Solid Fuel Market, By Fuel Type

8.2.2.1 North America: Solid Fuel Market, By Petcoke/Flexicoke

8.2.2.2 North America: Solid Fuel Market, By Metallurgical Coke

8.2.2.3 North America: Solid Fuel Market, By Coal

8.2.3 North America: Solid Fuel Market, by Key Country

8.2.3.1 US: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.2.3.1.1 US: Solid Fuel Market, By Fuel Type

8.2.3.1.1.1 US: Solid Fuel Market, By Petcoke/Flexicoke

8.2.3.1.1.2 US: Solid Fuel Market, By Metallurgical Coke

8.2.3.1.1.3 US: Solid Fuel Market, By Coal

8.2.3.2 Canada: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.2.3.2.1 Canada: Solid Fuel Market, By Fuel Type

8.2.3.2.1.1 Canada: Solid Fuel Market, By Petcoke/Flexicoke

8.2.3.2.1.2 Canada: Solid Fuel Market, By Metallurgical Coke

8.2.3.2.1.3 Canada: Solid Fuel Market, By Coal

8.3 Europe: Solid Fuel Market

8.3.1 Europe: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.2 Europe: Solid Fuel Market, By Fuel Type

8.3.2.1 Europe: Solid Fuel Market, By Petcoke/Flexicoke

8.3.2.2 Europe: Solid Fuel Market, By Metallurgical Coke

8.3.2.3 Europe: Solid Fuel Market, By Coal

8.3.3 Europe: Solid Fuel Market, by Key Country

8.3.3.1 Germany: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.3.1.1 Germany: Solid Fuel Market, By Fuel Type

8.3.3.1.1.1 Germany: Solid Fuel Market, By Petcoke/Flexicoke

8.3.3.1.1.2 Germany: Solid Fuel Market, By Metallurgical Coke

8.3.3.1.1.3 Germany: Solid Fuel Market, By Coal

8.3.3.2 France: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.3.2.1 France: Solid Fuel Market, By Fuel Type

8.3.3.2.1.1 France: Solid Fuel Market, By Petcoke/Flexicoke

8.3.3.2.1.2 France: Solid Fuel Market, By Metallurgical Coke

8.3.3.2.1.3 France: Solid Fuel Market, By Coal

8.3.3.3 Italy: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.3.3.1 Italy: Solid Fuel Market, By Fuel Type

8.3.3.3.1.1 Italy: Solid Fuel Market, By Petcoke/Flexicoke

8.3.3.3.1.2 Italy: Solid Fuel Market, By Metallurgical Coke

8.3.3.3.1.3 Italy: Solid Fuel Market, By Coal

8.3.3.4 UK: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.3.4.1 UK: Solid Fuel Market, By Fuel Type

8.3.3.4.1.1 UK: Solid Fuel Market, By Petcoke/Flexicoke

8.3.3.4.1.2 UK: Solid Fuel Market, By Metallurgical Coke

8.3.3.4.1.3 UK: Solid Fuel Market, By Coal

8.3.3.5 Russia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.3.5.1 Russia: Solid Fuel Market, By Fuel Type

8.3.3.5.1.1 Russia: Solid Fuel Market, By Petcoke/Flexicoke

8.3.3.5.1.2 Russia: Solid Fuel Market, By Metallurgical Coke

8.3.3.5.1.3 Russia: Solid Fuel Market, By Coal

8.3.3.6 Rest of Europe: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.3.3.6.1 Rest of Europe: Solid Fuel Market, By Fuel Type

8.3.3.6.1.1 Rest of Europe: Solid Fuel Market, By Petcoke/Flexicoke

8.3.3.6.1.2 Rest of Europe: Solid Fuel Market, By Metallurgical Coke

8.3.3.6.1.3 Rest of Europe: Solid Fuel Market, By Coal

8.4 Asia Pacific: Solid Fuel Market

8.4.1 Asia Pacific: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.2 Asia Pacific: Solid Fuel Market, By Fuel Type

8.4.2.1 Asia Pacific: Solid Fuel Market, By Petcoke/Flexicoke

8.4.2.2 Asia Pacific: Solid Fuel Market, By Metallurgical Coke

8.4.2.3 Asia Pacific: Solid Fuel Market, By Coal

8.4.3 Asia Pacific: Solid Fuel Market, by Key Country

8.4.3.1 Australia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.3.1.1 Australia: Solid Fuel Market, By Fuel Type

8.4.3.1.1.1 Australia: Solid Fuel Market, By Petcoke/Flexicoke

8.4.3.1.1.2 Australia: Solid Fuel Market, By Metallurgical Coke

8.4.3.1.1.3 Australia: Solid Fuel Market, By Coal

8.4.3.2 China: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.3.2.1 China: Solid Fuel Market, By Fuel Type

8.4.3.2.1.1 China: Solid Fuel Market, By Petcoke/Flexicoke

8.4.3.2.1.2 China: Solid Fuel Market, By Metallurgical Coke

8.4.3.2.1.3 China: Solid Fuel Market, By Coal

8.4.3.3 India: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.3.3.1 India: Solid Fuel Market, By Fuel Type

8.4.3.3.1.1 India: Solid Fuel Market, By Petcoke/Flexicoke

8.4.3.3.1.2 India: Solid Fuel Market, By Metallurgical Coke

8.4.3.3.1.3 India: Solid Fuel Market, By Coal

8.4.3.4 Japan: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.3.4.1 Japan: Solid Fuel Market, By Fuel Type

8.4.3.4.1.1 Japan: Solid Fuel Market, By Petcoke/Flexicoke

8.4.3.4.1.2 Japan: Solid Fuel Market, By Metallurgical Coke

8.4.3.4.1.3 Japan: Solid Fuel Market, By Coal

8.4.3.5 South Korea: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.3.5.1 South Korea: Solid Fuel Market, By Fuel Type

8.4.3.5.1.1 South Korea: Solid Fuel Market, By Petcoke/Flexicoke

8.4.3.5.1.2 South Korea: Solid Fuel Market, By Metallurgical Coke

8.4.3.5.1.3 South Korea: Solid Fuel Market, By Coal

8.4.3.6 Rest of APAC: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.4.3.6.1 Rest of APAC: Solid Fuel Market, By Fuel Type

8.4.3.6.1.1 Rest of APAC: Solid Fuel Market, By Petcoke/Flexicoke

8.4.3.6.1.2 Rest of APAC: Solid Fuel Market, By Metallurgical Coke

8.4.3.6.1.3 Rest of APAC: Solid Fuel Market, By Coal

8.5 MEA: Solid Fuel Market

8.5.1 MEA: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.5.2 MEA: Solid Fuel Market, By Fuel Type

8.5.2.1 MEA: Solid Fuel Market, By Petcoke/Flexicoke

8.5.2.2 MEA: Solid Fuel Market, By Metallurgical Coke

8.5.2.3 MEA: Solid Fuel Market, By Coal

8.5.3 MEA: Solid Fuel Market, by Key Country

8.5.3.1 Saudi Arabia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.5.3.1.1 Saudi Arabia: Solid Fuel Market, By Fuel Type

8.5.3.1.1.1 Saudi Arabia: Solid Fuel Market, By Petcoke/Flexicoke

8.5.3.1.1.2 Saudi Arabia: Solid Fuel Market, By Metallurgical Coke

8.5.3.1.1.3 Saudi Arabia: Solid Fuel Market, By Coal

8.5.3.2 UAE: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.5.3.2.1 UAE: Solid Fuel Market, By Fuel Type

8.5.3.2.1.1 UAE: Solid Fuel Market, By Petcoke/Flexicoke

8.5.3.2.1.2 UAE: Solid Fuel Market, By Metallurgical Coke

8.5.3.2.1.3 UAE: Solid Fuel Market, By Coal

8.5.3.3 South Africa: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.5.3.3.1 South Africa: Solid Fuel Market, By Fuel Type

8.5.3.3.1.1 South Africa: Solid Fuel Market, By Petcoke/Flexicoke

8.5.3.3.1.2 South Africa: Solid Fuel Market, By Metallurgical Coke

8.5.3.3.1.3 South Africa: Solid Fuel Market, By Coal

8.5.3.4 Rest of MEA: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.5.3.4.1 Rest of MEA: Solid Fuel Market, By Fuel Type

8.5.3.4.1.1 Rest of MEA: Solid Fuel Market, By Petcoke/Flexicoke

8.5.3.4.1.2 Rest of MEA: Solid Fuel Market, By Metallurgical Coke

8.5.3.4.1.3 Rest of MEA: Solid Fuel Market, By Coal

8.6 SAM: Solid Fuel Market

8.6.1 SAM: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.6.2 SAM: Solid Fuel Market, By Fuel Type

8.6.2.1 SAM: Solid Fuel Market, By Petcoke/Flexicoke

8.6.2.2 SAM: Solid Fuel Market, By Metallurgical Coke

8.6.2.3 SAM: Solid Fuel Market, By Coal

8.6.3 SAM: Solid Fuel Market, by Key Country

8.6.3.1 Brazil: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.6.3.1.1 Brazil: Solid Fuel Market, By Fuel Type

8.6.3.1.1.1 Brazil: Solid Fuel Market, By Petcoke/Flexicoke

8.6.3.1.1.2 Brazil: Solid Fuel Market, By Metallurgical Coke

8.6.3.1.1.3 Brazil: Solid Fuel Market, By Coal

8.6.3.2 Argentina: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.6.3.2.1 Argentina: Solid Fuel Market, By Fuel Type

8.6.3.2.1.1 Argentina: Solid Fuel Market, By Petcoke/Flexicoke

8.6.3.2.1.2 Argentina: Solid Fuel Market, By Metallurgical Coke

8.6.3.2.1.3 Argentina: Solid Fuel Market, By Coal

8.6.3.3 Rest of SAM: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

8.6.3.3.1 Rest of SAM: Solid Fuel Market, By Fuel Type

8.6.3.3.1.1 Rest of SAM: Solid Fuel Market, By Petcoke/Flexicoke

8.6.3.3.1.2 Rest of SAM: Solid Fuel Market, By Metallurgical Coke

8.6.3.3.1.3 Rest of SAM: Solid Fuel Market, By Coal

9. Solid Fuel Market - Covid-19 Impact Analysis

9.1 Overview

9.2 North America: Impact Assessment of COVID-19 Pandemic

9.3 Europe: Impact Assessment of COVID-19 Pandemic

9.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic

9.5 MEA: Impact Assessment of COVID-19 Pandemic

9.6 South America Impact Assessment of COVID-19 Pandemic

10. Industry Landscape

10.1 Overview

10.2 Market Initiative

10.3 Product Development

10.4 Mergers & Acquisitions

11. Company Profiles

11.1 Indian Oil Corp Ltd

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 Elinoil Hellenic Petroleum Company SA

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 RESORBENT Sro

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 JH CARBON PTY LTD

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 Hargreaves (UK) Services Ltd

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 Essar Global Fund Ltd

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 BP Plc

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 Lukoil Oil Co

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 Valero Energy Corp

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 Phillips 66

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

LIST OF TABLES

Table 1. Global Solid Fuel Market Revenue and Forecast to 2028 (US$ Million)

Table 2. North America: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 3. North America: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 4. North America: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 5. North America: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 6. US: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 7. US: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 8. US: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 9. US: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 10. Canada: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 11. Canada: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 12. Canada: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 13. Canada: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 14. Europe: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 15. Europe: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 16. Europe: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 17. Europe: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 18. Germany: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 19. Germany: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 20. Germany: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 21. Germany: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 22. France: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 23. France: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 24. France: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 25. France: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 26. Italy: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 27. Italy: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 28. Italy: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 29. Italy: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 30. UK: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 31. UK: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 32. UK: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 33. UK: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 34. Russia: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 35. Russia: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 36. Russia: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 37. Russia: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 38. Rest of Europe: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 39. Rest of Europe: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 40. Rest of Europe: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 41. Rest of Europe: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 42. Asia Pacific: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 43. Asia Pacific: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 44. Asia Pacific: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 45. Asia Pacific: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 46. Australia: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 47. Australia: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 48. Australia: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 49. Australia: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 50. China: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 51. China: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 52. China: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 53. China: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 54. India: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 55. India: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 56. India: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 57. India: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 58. Japan: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 59. Japan: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 60. Japan: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 61. Japan: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 62. South Korea: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 63. South Korea: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 64. South Korea: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 65. South Korea: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 66. Rest of APAC: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 67. Rest of APAC: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 68. Rest of APAC: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 69. Rest of APAC: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 70. MEA: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 71. MEA: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 72. MEA: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 73. MEA: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 74. Saudi Arabia: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 75. Saudi Arabia: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 76. Saudi Arabia: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 77. Saudi Arabia: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 78. UAE: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 79. UAE: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 80. UAE: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 81. UAE: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 82. South Africa: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 83. South Africa: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 84. South Africa: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 85. South Africa: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 86. Rest of MEA: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 87. Rest of MEA: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 88. Rest of MEA: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 89. Rest of MEA: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 90. SAM: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 91. SAM: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 92. SAM: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 93. SAM: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 94. Brazil: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 95. Brazil: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 96. Brazil: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 97. Brazil: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 98. Argentina: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 99. Argentina: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 100. Argentina: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 101. Argentina: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

Table 102. Rest of SAM: Solid Fuel Market, By Fuel Type – Revenue and Forecast to 2028 (US$ Million)

Table 103. Rest of SAM: Solid Fuel Market, By Petcoke/Flexicoke – Revenue and Forecast to 2028 (US$ Million)

Table 104. Rest of SAM: Solid Fuel Market, By Metallurgical Coke – Revenue and Forecast to 2028 (US$ Million)

Table 105. Rest of SAM: Solid Fuel Market, By Coal – Revenue and Forecast to 2028 (US$ Million)

LIST OF FIGURES

Figure 1. Solid Fuel Market Segmentation

Figure 2. Solid Fuel Market Segmentation – By Geography

Figure 3. Global Solid Fuel Market Overview

Figure 4. Solid Fuel Market, by Fuel Type

Figure 5. Solid Fuel Market, by Geography

Figure 6. North America – PEST Analysis

Figure 7. Europe – PEST Analysis

Figure 8. APAC – PEST Analysis

Figure 9. MEA – PEST Analysis

Figure 10. SAM – PEST Analysis

Figure 11. Solid Fuel Market – Ecosystem Analysis

Figure 12. Global Solid Fuel Market: Impact Analysis of Drivers and Restraints

Figure 13. Geographic Overview of Solid Fuel Market

Figure 14. Global Solid Fuel Market Revenue Forecast and Analysis (US$ Million)

Figure 15. Solid Fuel Market Revenue Share, by Fuel Type (2021 and 2028)

Figure 16. Petcoke/Flexicoke: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17. Cement: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. Lime Kilns: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. Gasification Units: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. Industrial Boilers: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. Anthracite: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22. Metallurgical Coke: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23. Iron & Steel: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. Glass: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25. Others: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26. Coal: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27. Thermal: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. Metallurgical: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. Global Solid Fuel Market Revenue Share, By Region (2021 & 2028)

Figure 30. North America: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31. North America: Solid Fuel Market Revenue Share, By Fuel Type (2021 & 2028)

Figure 32. North America: Solid Fuel Market Revenue Share, by Key Country (2021 & 2028)

Figure 33. US: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34. Canada: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35. Europe: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 36. Europe: Solid Fuel Market Revenue Share, By Fuel Type (2021 & 2028)

Figure 37. Europe: Solid Fuel Market Revenue Share, by Key Country (2021 & 2028)

Figure 38. Germany: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 39. France: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 40. Italy: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 41. UK: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 42. Russia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 43. Rest of Europe: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 44. Asia Pacific: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 45. Asia Pacific: Solid Fuel Market Revenue Share, By Fuel Type (2021 & 2028)

Figure 46. Asia Pacific: Solid Fuel Market Revenue Share, by Key Country (2021 & 2028)

Figure 47. Australia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 48. China: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 49. India: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 50. Japan: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 51. South Korea: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 52. Rest of APAC: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 53. MEA: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 54. MEA: Solid Fuel Market Revenue Share, By Fuel Type (2021 & 2028)

Figure 55. MEA: Solid Fuel Market Revenue Share, by Key Country (2021 & 2028)

Figure 56. Saudi Arabia: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 57. UAE: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 58. South Africa: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 59. Rest of MEA: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 60. SAM: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 61. SAM: Solid Fuel Market Revenue Share, By Fuel Type (2021 & 2028)

Figure 62. SAM: Solid Fuel Market Revenue Share, by Key Country (2021 & 2028)

Figure 63. Brazil: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 64. Argentina: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 65. Rest of SAM: Solid Fuel Market – Revenue and Forecast to 2028 (US$ Million)

Figure 66. Impact of COVID-19 Pandemic on North America Country Markets

Figure 67. Impact of COVID-19 Pandemic on Europe Country Markets

Figure 68. Impact of COVID-19 Pandemic on Asia Pacific Country Markets

Figure 69. Impact of COVID-19 Pandemic on MEA Country Markets

Figure 70. Impact of COVID-19 Pandemic on South America Country Markets

The List of Companies - Solid Fuel Market

  1. Indian Oil Corp Ltd
  2. Elinoil Hellenic Petroleum Company SA
  3. RESORBENT Sro
  4. JH CARBON PTY LTD
  5. Hargreaves (UK) Services Ltd
  6. Essar Global Fund Ltd
  7. BP Plc
  8. Lukoil Oil Co
  9. Valero Energy Corp
  10. Philips 66

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:

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  • 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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