Battery Housing Market
Battery Housing Market Forecasts to 2030 - Global Analysis By Material Type (Non-Metallic and Metallic), Battery Type (Lead-Acid Batteries, Lithium-Ion Batteries, Nickel-Metal Hydride Batteries and Other Battery Types), Vehicle Type, End User and by Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $5.95 BN |
|
Projected Year Value (2030) |
US $16.81 BN |
|
CAGR (2024 - 2030) |
18.89% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Battery Housing Market is accounted for $5.95 billion in 2024 and is expected to reach $16.81 billion by 2030 growing at a CAGR of 18.89% during the forecast period. In energy storage systems, battery housing is essential, especially for electric vehicles (EVs) and renewable energy applications. In order to ensure safe and dependable operation, it acts as the protective casing that encloses and shields the battery cells from external impacts, environmental factors, and thermal fluctuations. Battery housings are made of steel, aluminum, or composite materials and are intended to be lightweight without sacrificing structural integrity or thermal management capabilities.
According to the International Energy Agency (IEA), battery demand is projected to grow seven times by 2035 compared with 2023 in the Stated Policies scenario, nine times in the Announced Pledges scenario, and 12 times in the Net Zero Emissions scenario by 2050 scenario.
Market Dynamics:
Driver:
Growing interest in electric cars (EVs)
One of the main factors propelling the market for battery housing is the increase in the use of electric vehicles worldwide. Automakers are investing more in new models and technologies as a result of governments around the world establishing aggressive targets for EV penetration and offering incentives for EV adoption. Additionally, by shielding EV batteries from outside impacts, temperature changes, and environmental factors, battery housings are essential to maintaining the safety, effectiveness, and performance of these batteries. With the increasing popularity of high-performance electric vehicles (EVs), like sports cars and commercial vehicles, creative designs for battery housing are needed to meet strict crash safety regulations, improve thermal management, and accommodate larger battery packs.
Restraint:
High manufacturing process and advanced material costs
The cost of manufacturing battery housing is greatly increased by the use of sophisticated materials like carbon fiber, aluminum, and high-performance composites. These materials are chosen because they are strong, lightweight, and have the ability to regulate heat; however, their procurement and processing costs are high. A significant obstacle for manufacturers is the high costs, particularly in price-sensitive markets like consumer electronics and entry-level electric vehicles. Furthermore, adopting these cutting-edge materials may prove challenging for small-scale manufacturers or those with narrow profit margins, which will hinder their capacity to compete with larger firms that can afford to invest in state-of-the-art technology.
Opportunity:
Developments in manufacturing technologies and material science
There are numerous opportunities to create new and better battery housings owing to advancements in material science and manufacturing technologies. Advanced materials such as graphene, carbon nanotubes, and high-strength polymers, for example, can be used to create housings that are impact-resistant and lightweight while still providing excellent thermal management. These materials also enable more efficient and compact designs, which can increase the energy density of battery packs. Moreover, technological developments in automated manufacturing procedures and additive manufacturing (3D printing) can also minimize waste, lower production costs, and speed up the prototyping of new battery housing designs.
Threat:
Strong price pressure and market competition
There are many competitors in the battery housing market, ranging from large, well-known multinational companies to smaller, niche producers. This creates a highly competitive environment. Companies strive to provide the most affordable solutions in order to increase their market share, which frequently results in price pressure. Given their larger size and access to greater financial resources for marketing, R&D, and research, larger companies may find it difficult to compete with smaller ones. Furthermore, driving down prices and decreasing profit margins for all players can come from the entry of new competitors, particularly those from low-cost areas.
Covid-19 Impact:
The market for battery housing was significantly impacted by the COVID-19 pandemic, which also caused delays in production and delivery and upset international supply chains. Lockdowns and restrictions caused manufacturing capacities to be reduced and factories to close, while disruptions in the supply chain led to a shortage of raw materials and higher costs. Moreover, along with accelerating changes in consumer behaviour, the pandemic also created obstacles for automotive and industrial applications due to delayed investments and decreased economic activity. On the one hand, the increased demand for personal electronics and home energy solutions drove growth in certain segments.
The Lead-Acid Batteries segment is expected to be the largest during the forecast period
The market for battery housing is expected to be dominated by the lead-acid battery segment. Lead-acid batteries are extensively utilized in numerous applications, such as industrial, automotive, and backup power systems, because of their dependable, affordable, and well-established technology. They are especially preferred in applications where robustness and cost are more important than weight and energy density. Additionally, lead-acid battery housings must be able to withstand mechanical stress and environmental elements like moisture, all the while supporting the comparatively larger size and weight of the battery in comparison to more modern technologies.
The Electric Vehicles (EVs) segment is expected to have the highest CAGR during the forecast period
In the battery housing market, the electric vehicles (EVs) segment is expected to grow at the highest CAGR. The increasing demand from consumers for environmentally friendly transportation, improvements in battery technology, and government policies that support cleaner energy solutions are the main drivers of the EV segment's rapid growth. Modern battery housings that guarantee safety, efficiency, and performance are becoming increasingly important as automakers make significant investments in creating and growing their line-up of electric vehicles. Furthermore, these housings need to be able to hold batteries with a high energy density, provide efficient heat management, and adhere to strict safety regulations.
Region with largest share:
The market for battery housing is largest in the North American region, as the area is fortunate to have a thriving automotive sector, substantial investments in renewable energy initiatives, and a strong emphasis on technological innovation. Due to the widespread use of lead-acid batteries in conventional automotive and industrial applications as well as the industry's explosive growth in electric vehicles, which necessitates sophisticated battery housing solutions, North America has a robust demand for battery housings. Moreover, the region's market is growing owing to encouraging government policies and incentives that support clean energy and electric mobility, solidifying North America's position as a major player in the global battery housing market.
Region with highest CAGR:
The battery housing market is expected to grow at the highest CAGR in the Europe region. The region's significant investments in electric cars and renewable energy projects are a result of its strong commitment to environmental sustainability and climate goals, which is fueling its growth. The need for cutting-edge battery technologies and housing solutions is driven by Europe's strict emission and energy efficiency regulations. Additionally, the market is further stimulated by government subsidies and incentives for energy storage systems and environmentally friendly transportation, positioning Europe as a major player with significant room to grow in the battery housing industry.
Key players in the market
Some of the key players in Battery Housing market include Magna International Inc., Hitachi Chemical Co., Ltd., BYD Company Limited, Minth Group, Panasonic Corporation, Constellium SE, Novelis, Inc., SGL Carbon SE, Gestamp Automocion, S.A., Impression Technologies, Thyssenkrupp AG, Covestro AG, SABIC (Saudi Basic Industries Corporation), LG Chem Ltd. and DSM Engineering Materials.
Key Developments:
In August 2024, Magna and SKH collaborate to enhance body and chassis operations in India. A strategic agreement between Magna International Inc. and Krishna Group’s Metals Division, SKH, has resulted in the creation of SKH M, a new company dedicated to body and chassis operations in India.
In July 2024, Panasonic Corporation announced that its Cold Chain Solutions Company has entered into an agreement with Cooling Solutions S.L. to purchase all the shares of its subsidiary Area Cooling Solutions Sp. z o.o. , a Polish refrigeration equipment manufacturer.
In February 2024, Chinese electric vehicle giant BYD Co. Ltd. has signed a preliminary land purchase agreement to build its first European electric passenger car plant in Szeged, Hungary. BYD didn’t disclose how much it would be spending on the new plant. The Chinese firm has operated an electric bus plant in Hungary since 2016 and has said it invested 20 million euro ($21.7 million) to build the bus factory.
Material Types Covered:
• Non-Metallic
• Metallic
Battery Types Covered:
• Lead-Acid Batteries
• Lithium-Ion Batteries
• Nickel-Metal Hydride Batteries
• Other Battery Types
Vehicle Types Covered:
• Passenger Vehicles
• Commercial Vehicles
• Electric Vehicles (EVs)
• Other Vehicle Types
End Users Covered:
• Automotive
• Industrial
• Consumer Electronics
• Energy Storage Systems
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Battery Housing Market, By Material Type
5.1 Introduction
5.2 Non-Metallic
5.3 Metallic
6 Global Battery Housing Market, By Battery Type
6.1 Introduction
6.2 Lead-Acid Batteries
6.3 Lithium-Ion Batteries
6.4 Nickel-Metal Hydride Batteries
6.5 Other Battery Types
7 Global Battery Housing Market, By Vehicle Type
7.1 Introduction
7.2 Passenger Vehicles
7.3 Commercial Vehicles
7.4 Electric Vehicles (EVs)
7.5 Other Vehicle Types
8 Global Battery Housing Market, By End User
8.1 Introduction
8.2 Automotive
8.3 Industrial
8.4 Consumer Electronics
8.5 Energy Storage Systems
8.6 Other End Users
9 Global Battery Housing Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Magna International Inc.
11.2 Hitachi Chemical Co., Ltd.
11.3 BYD Company Limited
11.4 Minth Group
11.5 Panasonic Corporation
11.6 Constellium SE
11.7 Novelis, Inc.
11.8 SGL Carbon SE
11.9 Gestamp Automocion, S.A.
11.10 Impression Technologies
11.11 Thyssenkrupp AG
11.12 Covestro AG
11.13 SABIC (Saudi Basic Industries Corporation)
11.14 LG Chem Ltd.
11.15 DSM Engineering Materials
List of Tables
1 Global Battery Housing Market Outlook, By Region (2022-2030) ($MN)
2 Global Battery Housing Market Outlook, By Material Type (2022-2030) ($MN)
3 Global Battery Housing Market Outlook, By Non-Metallic (2022-2030) ($MN)
4 Global Battery Housing Market Outlook, By Metallic (2022-2030) ($MN)
5 Global Battery Housing Market Outlook, By Battery Type (2022-2030) ($MN)
6 Global Battery Housing Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
7 Global Battery Housing Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
8 Global Battery Housing Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
9 Global Battery Housing Market Outlook, By Other Battery Types (2022-2030) ($MN)
10 Global Battery Housing Market Outlook, By Vehicle Type (2022-2030) ($MN)
11 Global Battery Housing Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
12 Global Battery Housing Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
13 Global Battery Housing Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
14 Global Battery Housing Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
15 Global Battery Housing Market Outlook, By End User (2022-2030) ($MN)
16 Global Battery Housing Market Outlook, By Automotive (2022-2030) ($MN)
17 Global Battery Housing Market Outlook, By Industrial (2022-2030) ($MN)
18 Global Battery Housing Market Outlook, By Consumer Electronics (2022-2030) ($MN)
19 Global Battery Housing Market Outlook, By Energy Storage Systems (2022-2030) ($MN)
20 Global Battery Housing Market Outlook, By Other End Users (2022-2030) ($MN)
21 North America Battery Housing Market Outlook, By Country (2022-2030) ($MN)
22 North America Battery Housing Market Outlook, By Material Type (2022-2030) ($MN)
23 North America Battery Housing Market Outlook, By Non-Metallic (2022-2030) ($MN)
24 North America Battery Housing Market Outlook, By Metallic (2022-2030) ($MN)
25 North America Battery Housing Market Outlook, By Battery Type (2022-2030) ($MN)
26 North America Battery Housing Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
27 North America Battery Housing Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
28 North America Battery Housing Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
29 North America Battery Housing Market Outlook, By Other Battery Types (2022-2030) ($MN)
30 North America Battery Housing Market Outlook, By Vehicle Type (2022-2030) ($MN)
31 North America Battery Housing Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
32 North America Battery Housing Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
33 North America Battery Housing Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
34 North America Battery Housing Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
35 North America Battery Housing Market Outlook, By End User (2022-2030) ($MN)
36 North America Battery Housing Market Outlook, By Automotive (2022-2030) ($MN)
37 North America Battery Housing Market Outlook, By Industrial (2022-2030) ($MN)
38 North America Battery Housing Market Outlook, By Consumer Electronics (2022-2030) ($MN)
39 North America Battery Housing Market Outlook, By Energy Storage Systems (2022-2030) ($MN)
40 North America Battery Housing Market Outlook, By Other End Users (2022-2030) ($MN)
41 Europe Battery Housing Market Outlook, By Country (2022-2030) ($MN)
42 Europe Battery Housing Market Outlook, By Material Type (2022-2030) ($MN)
43 Europe Battery Housing Market Outlook, By Non-Metallic (2022-2030) ($MN)
44 Europe Battery Housing Market Outlook, By Metallic (2022-2030) ($MN)
45 Europe Battery Housing Market Outlook, By Battery Type (2022-2030) ($MN)
46 Europe Battery Housing Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
47 Europe Battery Housing Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
48 Europe Battery Housing Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
49 Europe Battery Housing Market Outlook, By Other Battery Types (2022-2030) ($MN)
50 Europe Battery Housing Market Outlook, By Vehicle Type (2022-2030) ($MN)
51 Europe Battery Housing Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
52 Europe Battery Housing Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
53 Europe Battery Housing Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
54 Europe Battery Housing Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
55 Europe Battery Housing Market Outlook, By End User (2022-2030) ($MN)
56 Europe Battery Housing Market Outlook, By Automotive (2022-2030) ($MN)
57 Europe Battery Housing Market Outlook, By Industrial (2022-2030) ($MN)
58 Europe Battery Housing Market Outlook, By Consumer Electronics (2022-2030) ($MN)
59 Europe Battery Housing Market Outlook, By Energy Storage Systems (2022-2030) ($MN)
60 Europe Battery Housing Market Outlook, By Other End Users (2022-2030) ($MN)
61 Asia Pacific Battery Housing Market Outlook, By Country (2022-2030) ($MN)
62 Asia Pacific Battery Housing Market Outlook, By Material Type (2022-2030) ($MN)
63 Asia Pacific Battery Housing Market Outlook, By Non-Metallic (2022-2030) ($MN)
64 Asia Pacific Battery Housing Market Outlook, By Metallic (2022-2030) ($MN)
65 Asia Pacific Battery Housing Market Outlook, By Battery Type (2022-2030) ($MN)
66 Asia Pacific Battery Housing Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
67 Asia Pacific Battery Housing Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
68 Asia Pacific Battery Housing Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
69 Asia Pacific Battery Housing Market Outlook, By Other Battery Types (2022-2030) ($MN)
70 Asia Pacific Battery Housing Market Outlook, By Vehicle Type (2022-2030) ($MN)
71 Asia Pacific Battery Housing Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
72 Asia Pacific Battery Housing Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
73 Asia Pacific Battery Housing Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
74 Asia Pacific Battery Housing Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
75 Asia Pacific Battery Housing Market Outlook, By End User (2022-2030) ($MN)
76 Asia Pacific Battery Housing Market Outlook, By Automotive (2022-2030) ($MN)
77 Asia Pacific Battery Housing Market Outlook, By Industrial (2022-2030) ($MN)
78 Asia Pacific Battery Housing Market Outlook, By Consumer Electronics (2022-2030) ($MN)
79 Asia Pacific Battery Housing Market Outlook, By Energy Storage Systems (2022-2030) ($MN)
80 Asia Pacific Battery Housing Market Outlook, By Other End Users (2022-2030) ($MN)
81 South America Battery Housing Market Outlook, By Country (2022-2030) ($MN)
82 South America Battery Housing Market Outlook, By Material Type (2022-2030) ($MN)
83 South America Battery Housing Market Outlook, By Non-Metallic (2022-2030) ($MN)
84 South America Battery Housing Market Outlook, By Metallic (2022-2030) ($MN)
85 South America Battery Housing Market Outlook, By Battery Type (2022-2030) ($MN)
86 South America Battery Housing Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
87 South America Battery Housing Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
88 South America Battery Housing Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
89 South America Battery Housing Market Outlook, By Other Battery Types (2022-2030) ($MN)
90 South America Battery Housing Market Outlook, By Vehicle Type (2022-2030) ($MN)
91 South America Battery Housing Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
92 South America Battery Housing Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
93 South America Battery Housing Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
94 South America Battery Housing Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
95 South America Battery Housing Market Outlook, By End User (2022-2030) ($MN)
96 South America Battery Housing Market Outlook, By Automotive (2022-2030) ($MN)
97 South America Battery Housing Market Outlook, By Industrial (2022-2030) ($MN)
98 South America Battery Housing Market Outlook, By Consumer Electronics (2022-2030) ($MN)
99 South America Battery Housing Market Outlook, By Energy Storage Systems (2022-2030) ($MN)
100 South America Battery Housing Market Outlook, By Other End Users (2022-2030) ($MN)
101 Middle East & Africa Battery Housing Market Outlook, By Country (2022-2030) ($MN)
102 Middle East & Africa Battery Housing Market Outlook, By Material Type (2022-2030) ($MN)
103 Middle East & Africa Battery Housing Market Outlook, By Non-Metallic (2022-2030) ($MN)
104 Middle East & Africa Battery Housing Market Outlook, By Metallic (2022-2030) ($MN)
105 Middle East & Africa Battery Housing Market Outlook, By Battery Type (2022-2030) ($MN)
106 Middle East & Africa Battery Housing Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
107 Middle East & Africa Battery Housing Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
108 Middle East & Africa Battery Housing Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
109 Middle East & Africa Battery Housing Market Outlook, By Other Battery Types (2022-2030) ($MN)
110 Middle East & Africa Battery Housing Market Outlook, By Vehicle Type (2022-2030) ($MN)
111 Middle East & Africa Battery Housing Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
112 Middle East & Africa Battery Housing Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
113 Middle East & Africa Battery Housing Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
114 Middle East & Africa Battery Housing Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
115 Middle East & Africa Battery Housing Market Outlook, By End User (2022-2030) ($MN)
116 Middle East & Africa Battery Housing Market Outlook, By Automotive (2022-2030) ($MN)
117 Middle East & Africa Battery Housing Market Outlook, By Industrial (2022-2030) ($MN)
118 Middle East & Africa Battery Housing Market Outlook, By Consumer Electronics (2022-2030) ($MN)
119 Middle East & Africa Battery Housing Market Outlook, By Energy Storage Systems (2022-2030) ($MN)
120 Middle East & Africa Battery Housing Market Outlook, By Other End Users (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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