In a pressure vessel, vanadium metal is made by reducing vanadium pentoxide with calcium. By reducing vanadium(III) chloride with magnesium, high-purity vanadium can be produced. Vanadium is utilised as a steel addition in around 80% of the time. Armour plates, axles, tools, piston rods, and crankshafts are made of vanadium-steel alloys, which are extremely resistant. Steel is shock and vibration resistant because it contains less than 1% vanadium and as little chromium as possible. Because vanadium has poor neutron absorption qualities, it is employed in nuclear reactors. It is also usedin batteries, pigments, dyes, and other applications.
MARKET SCOPE
The "Global Vanadium Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the vanadium market with detailed market segmentation by application, end user industry, and geography. The report provides key statistics on the market status of the leading vanadium market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of application, the market is segmented into alloys, batteries, pigments, dues & printing fabrics, others.
- On the basis of end user industry, the market is segmented into automotive & aerospace, energy storage, chemicals, others.
MARKET DYNAMICS
Drivers:
- The continued use of high-strength steel for automotive production over lighter alternatives, as well as the automotive industry's rapid expansion, are expected to boost demand for vanadium.
- Moreover, growing adoption of vanadium across various end user segments such as medical, energy storage, chemicals, aerospace and atumotive, is also projected to boost the market growth over the forecast period.
Restraints:
- However, consuming excessive amounts of vanadium over an extended period of time might result in major health consequences such as kidney damage, which is projected to impede the vanadium market's expansion throughout the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The vanadium market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the 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 affecting the vanadium market in these regions.
IMPACT OF COVID-19 ON VANADIUM MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The vanadium market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the 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 affecting the vanadium market in these regions.
IMPACT OF COVID-19 ON VANADIUM MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.
MARKET PLAYERS
The report covers key developments in the vanadium 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 marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from vanadium market are anticipated to lucrative growth opportunities in the future with the rising demand for vanadium in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the vanadium market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Australian Vanadium Limited
- AMG Vanadium LLC
- Ansteel Group Corporation Limited
- Bushveld Minerals
- EVRAZ Plc
- Glencore Plc
- HBIS Group Co. Ltd.
- Largo Resources Ltd.
- Treibacher Industrie AG
- VanadiumCorp Resource Inc.
- HMW Hauner GmbH & Co.KG
- U.S. Vanadium LLC
- Riverside Specialty Chemicals
- Hunan Sanfeng Vanadium
- MSSA
- Oxkem Limited
- Shinko Chemical
- Premier Alloys & Chemicals
- LARGO RESOURCES LTD.
- Tremond Metals Corp
- 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 Vanadium Market - By Application
1.3.2 Vanadium Market - By End User Industry
1.3.3 Vanadium Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VANADIUM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. VANADIUM 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. VANADIUM MARKET - GLOBAL MARKET ANALYSIS
6.1. VANADIUM - GLOBAL MARKET OVERVIEW
6.2. VANADIUM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. VANADIUM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. ALLOYS
7.3.1. Overview
7.3.2. Alloys Market Forecast and Analysis
7.4. BATTERIES
7.4.1. Overview
7.4.2. Batteries Market Forecast and Analysis
7.5. PIGMENTS
7.5.1. Overview
7.5.2. Pigments Market Forecast and Analysis
7.6. DYES AND PRINTING FABRICS
7.6.1. Overview
7.6.2. Dyes and Printing Fabrics Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. VANADIUM MARKET - REVENUE AND FORECASTS TO 2028 - END USER INDUSTRY
8.1. OVERVIEW
8.2. END USER INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE AND AEROSPACE
8.3.1. Overview
8.3.2. Automotive and Aerospace Market Forecast and Analysis
8.4. ENERGY STORAGE
8.4.1. Overview
8.4.2. Energy Storage Market Forecast and Analysis
8.5. CHEMICALS
8.5.1. Overview
8.5.2. Chemicals Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. VANADIUM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Vanadium Market Overview
9.1.2 North America Vanadium Market Forecasts and Analysis
9.1.3 North America Vanadium Market Forecasts and Analysis - By Application
9.1.4 North America Vanadium Market Forecasts and Analysis - By End User Industry
9.1.5 North America Vanadium Market Forecasts and Analysis - By Countries
9.1.5.1 United States Vanadium Market
9.1.5.1.1 United States Vanadium Market by Application
9.1.5.1.2 United States Vanadium Market by End User Industry
9.1.5.2 Canada Vanadium Market
9.1.5.2.1 Canada Vanadium Market by Application
9.1.5.2.2 Canada Vanadium Market by End User Industry
9.1.5.3 Mexico Vanadium Market
9.1.5.3.1 Mexico Vanadium Market by Application
9.1.5.3.2 Mexico Vanadium Market by End User Industry
9.2. EUROPE
9.2.1 Europe Vanadium Market Overview
9.2.2 Europe Vanadium Market Forecasts and Analysis
9.2.3 Europe Vanadium Market Forecasts and Analysis - By Application
9.2.4 Europe Vanadium Market Forecasts and Analysis - By End User Industry
9.2.5 Europe Vanadium Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Vanadium Market
9.2.5.1.1 Germany Vanadium Market by Application
9.2.5.1.2 Germany Vanadium Market by End User Industry
9.2.5.2 France Vanadium Market
9.2.5.2.1 France Vanadium Market by Application
9.2.5.2.2 France Vanadium Market by End User Industry
9.2.5.3 Italy Vanadium Market
9.2.5.3.1 Italy Vanadium Market by Application
9.2.5.3.2 Italy Vanadium Market by End User Industry
9.2.5.4 United Kingdom Vanadium Market
9.2.5.4.1 United Kingdom Vanadium Market by Application
9.2.5.4.2 United Kingdom Vanadium Market by End User Industry
9.2.5.5 Russia Vanadium Market
9.2.5.5.1 Russia Vanadium Market by Application
9.2.5.5.2 Russia Vanadium Market by End User Industry
9.2.5.6 Rest of Europe Vanadium Market
9.2.5.6.1 Rest of Europe Vanadium Market by Application
9.2.5.6.2 Rest of Europe Vanadium Market by End User Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Vanadium Market Overview
9.3.2 Asia-Pacific Vanadium Market Forecasts and Analysis
9.3.3 Asia-Pacific Vanadium Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Vanadium Market Forecasts and Analysis - By End User Industry
9.3.5 Asia-Pacific Vanadium Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Vanadium Market
9.3.5.1.1 Australia Vanadium Market by Application
9.3.5.1.2 Australia Vanadium Market by End User Industry
9.3.5.2 China Vanadium Market
9.3.5.2.1 China Vanadium Market by Application
9.3.5.2.2 China Vanadium Market by End User Industry
9.3.5.3 India Vanadium Market
9.3.5.3.1 India Vanadium Market by Application
9.3.5.3.2 India Vanadium Market by End User Industry
9.3.5.4 Japan Vanadium Market
9.3.5.4.1 Japan Vanadium Market by Application
9.3.5.4.2 Japan Vanadium Market by End User Industry
9.3.5.5 South Korea Vanadium Market
9.3.5.5.1 South Korea Vanadium Market by Application
9.3.5.5.2 South Korea Vanadium Market by End User Industry
9.3.5.6 Rest of Asia-Pacific Vanadium Market
9.3.5.6.1 Rest of Asia-Pacific Vanadium Market by Application
9.3.5.6.2 Rest of Asia-Pacific Vanadium Market by End User Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Vanadium Market Overview
9.4.2 Middle East and Africa Vanadium Market Forecasts and Analysis
9.4.3 Middle East and Africa Vanadium Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Vanadium Market Forecasts and Analysis - By End User Industry
9.4.5 Middle East and Africa Vanadium Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Vanadium Market
9.4.5.1.1 South Africa Vanadium Market by Application
9.4.5.1.2 South Africa Vanadium Market by End User Industry
9.4.5.2 Saudi Arabia Vanadium Market
9.4.5.2.1 Saudi Arabia Vanadium Market by Application
9.4.5.2.2 Saudi Arabia Vanadium Market by End User Industry
9.4.5.3 U.A.E Vanadium Market
9.4.5.3.1 U.A.E Vanadium Market by Application
9.4.5.3.2 U.A.E Vanadium Market by End User Industry
9.4.5.4 Rest of Middle East and Africa Vanadium Market
9.4.5.4.1 Rest of Middle East and Africa Vanadium Market by Application
9.4.5.4.2 Rest of Middle East and Africa Vanadium Market by End User Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Vanadium Market Overview
9.5.2 South and Central America Vanadium Market Forecasts and Analysis
9.5.3 South and Central America Vanadium Market Forecasts and Analysis - By Application
9.5.4 South and Central America Vanadium Market Forecasts and Analysis - By End User Industry
9.5.5 South and Central America Vanadium Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Vanadium Market
9.5.5.1.1 Brazil Vanadium Market by Application
9.5.5.1.2 Brazil Vanadium Market by End User Industry
9.5.5.2 Argentina Vanadium Market
9.5.5.2.1 Argentina Vanadium Market by Application
9.5.5.2.2 Argentina Vanadium Market by End User Industry
9.5.5.3 Rest of South and Central America Vanadium Market
9.5.5.3.1 Rest of South and Central America Vanadium Market by Application
9.5.5.3.2 Rest of South and Central America Vanadium Market by End User Industry
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. VANADIUM MARKET, KEY COMPANY PROFILES
11.1. AUSTRALIAN VANADIUM LIMITED
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. AMG VANADIUM LLC
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. ANSTEEL GROUP CORPORATION LIMITED
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. BUSHVELD MINERALS
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. EVRAZ PLC
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. GLENCORE PLC
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. HBIS GROUP CO. LTD.
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. LARGO RESOURCES LTD.
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. TREIBACHER INDUSTRIE AG
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. VANADIUMCORP RESOURCE INC.
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
11.11. HMW HAUNER GMBH AND CO.KG
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. U.S. VANADIUM LLC
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
11.13. RIVERSIDE SPECIALTY CHEMICALS
11.13.1. Key Facts
11.13.2. Business Description
11.13.3. Products and Services
11.13.4. Financial Overview
11.13.5. SWOT Analysis
11.13.6. Key Developments
11.14. HUNAN SANFENG VANADIUM
11.14.1. Key Facts
11.14.2. Business Description
11.14.3. Products and Services
11.14.4. Financial Overview
11.14.5. SWOT Analysis
11.14.6. Key Developments
11.15. MSSA
11.15.1. Key Facts
11.15.2. Business Description
11.15.3. Products and Services
11.15.4. Financial Overview
11.15.5. SWOT Analysis
11.15.6. Key Developments
11.16. OXKEM LIMITED
11.16.1. Key Facts
11.16.2. Business Description
11.16.3. Products and Services
11.16.4. Financial Overview
11.16.5. SWOT Analysis
11.16.6. Key Developments
11.17. SHINKO CHEMICAL
11.17.1. Key Facts
11.17.2. Business Description
11.17.3. Products and Services
11.17.4. Financial Overview
11.17.5. SWOT Analysis
11.17.6. Key Developments
11.18. PREMIER ALLOYS AND CHEMICALS
11.18.1. Key Facts
11.18.2. Business Description
11.18.3. Products and Services
11.18.4. Financial Overview
11.18.5. SWOT Analysis
11.18.6. Key Developments
11.19. LARGO RESOURCES LTD.
11.19.1. Key Facts
11.19.2. Business Description
11.19.3. Products and Services
11.19.4. Financial Overview
11.19.5. SWOT Analysis
11.19.6. Key Developments
11.20. TREMOND METALS CORP
11.20.1. Key Facts
11.20.2. Business Description
11.20.3. Products and Services
11.20.4. Financial Overview
11.20.5. SWOT Analysis
11.20.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Australian Vanadium Limited
2. AMG Vanadium LLC
3. Ansteel Group Corporation Limited
4. Bushveld Minerals
5. EVRAZ Plc
6. Glencore Plc
7. HBIS Group Co. Ltd.
8. Largo Resources Ltd.
9. Treibacher Industrie AG
10. VanadiumCorp Resource Inc.
11. HMW Hauner GmbH and Co.KG
12. U.S. Vanadium LLC
13. Riverside Specialty Chemicals
14. Hunan Sanfeng Vanadium
15. MSSA
16. Oxkem Limited
17. Shinko Chemical
18. Premier Alloys and Chemicals
19. LARGO RESOURCES LTD.
20.Tremond Metals Corp
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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