Class 8 Truck Market
Class 8 Truck Market Forecasts to 2030 - Global Analysis By Product (Long-Haul Trucks, Heavy-Duty Trucks, Tractor-Trailers, Logging Trucks, Tanker Trucks and Other Products), Fuel Type (Diesel, Electric, Hybrid, LNG and Other Fuel Types), Application and by Geography
According to Stratistics MRC, the Global Class 8 Truck Market is accounted for $294.09 billion in 2024 and is expected to reach $467.46 billion by 2030 growing at a CAGR of 8.03% during the forecast period. A Class 8 truck, also known as a heavy-duty truck, is a sturdy car built to handle even the most difficult transportation jobs. These trucks are appropriate for heavy-duty applications such as large-scale construction projects and long-haul freight because their gross vehicle weight rating (GVWR) is usually more than 33,000 pounds. With their robust chassis, sophisticated suspension systems, and potent engines, Class 8 trucks are built to tackle rough terrain and heavy loads. Moreover, they are essential to the logistics and transportation sectors because they make sure that cargo is moved across long distances effectively.
According to the American Trucking Associations (ATA), trucks transported 72.5% of the nation's freight by weight in 2020, highlighting the critical role of the trucking industry in the U.S. economy.
Market Dynamics:
Driver:
Optimization of the supply chain and logistics
Businesses that prioritize supply chain and logistics optimization frequently purchase Class 8 trucks in order to increase productivity and lower operating expenses. Real-time tracking, load optimization, and sophisticated routing and scheduling software are all components of effective logistics strategies. Additionally, class 8 trucks are necessary for the implementation of dependable and reasonably priced supply chain solutions because of their large carrying capacities and long driving range.
Restraint:
High starting prices
One of the biggest obstacles for many businesses is the large initial outlay of funds needed to acquire Class 8 trucks. The cost of manufacturing and purchasing these trucks is high due to their sophisticated technologies and sturdy components. Furthermore, growth in the market may be restricted if smaller companies and new entrants find it difficult to set aside enough money for fleet replacement or expansion.
Opportunity:
Growth in the emerging markets
The Class 8 truck market has a lot of opportunities due to the rapid industrialization and urbanization occurring in emerging markets. The need for logistics and transportation services is rising in Latin American, Asian, and African nations. Moreover, by entering these areas, truck manufacturers can reach a wider audience and capitalize on the increasing demand for heavy-duty vehicles to facilitate trade, construction, and infrastructure development.
Threat:
Disruptions to the supply chain
Natural disasters, geopolitical unrest, pandemics, and trade disputes are a few examples of events that can seriously disrupt the global supply chain and have an adverse effect on Class 8 truck production and availability. Deficits in vital components such as semiconductors, metals, and other raw materials can cause production to stall, expenses to rise, and delivery timetables to become difficult to fulfill. Furthermore, these hiccups have the potential to impede market expansion and compromise supply chains' dependability.
Covid-19 Impact:
The Class 8 truck market was severely affected by the COVID-19 pandemic, which resulted in supply chain disruptions and factory closures as well as shortages of vital parts. Due to the economic downturn, fleet operators postponed buying new trucks and saw a decrease in demand for freight. But the pandemic-related spike in e-commerce and changes in consumer behaviour made efficient logistics and delivery services more necessary, somewhat offsetting the decline. Moreover, the pandemic hastened the trucking industry's adoption of contactless solutions and digital technologies, resulting in long-term adjustments to market dynamics and operational procedures.
The Tractor-Trailers segment is expected to be the largest during the forecast period
In the market for Class 8 trucks, the tractor-trailer segment has the largest share. For long-distance freight transportation, tractor-trailers—also referred to as semi-trucks or articulated trucks—are a necessity. With their substantial cargo capacity, they are comprised of a potent tractor unit and one or more trailers. Additionally, because it is so versatile and plays such a vital role in the supply chain and logistics sectors, allowing goods to be moved across large distances efficiently, this segment leads the market.
The Electric segment is expected to have the highest CAGR during the forecast period
In the Class 8 truck market, the electric segment is anticipated to grow at the highest CAGR. The growing emphasis on cutting carbon emissions and the move toward environmentally friendly transportation options are the main forces behind this expansion. Governments and regulatory agencies are enforcing strict emission regulations and offering financial incentives to encourage the use of electric vehicles. Furthermore, the viability and attractiveness of electric Class 8 trucks are increasing due to technological developments in battery capacity, charging infrastructure, and electric drive trains.
Region with largest share:
It is projected that North America will account for the largest share of the class 8 truck market. The region's substantial industrial activity, vast networks of freight transportation, and strong infrastructure development are the main causes of this dominance. Moreover, due to its extensive interstate highway network and high demand for heavy-duty trucks in the construction, agriculture, and logistics industries, the United States, in particular, holds a sizable portion of this market share.
Region with highest CAGR:
In the class 8 truck market, the Asia-Pacific region currently has the highest CAGR. Rapid urbanization, rising e-commerce, and rising infrastructure development investments in nations like China and India are the main drivers of this growth. Heavy-duty trucks are in high demand in these countries to support their expanding construction and logistics industries. Additionally, the region's market is expanding due to government initiatives aimed at enhancing road connectivity and transportation efficiency.
Key players in the market
Some of the key players in Class 8 Truck market include Volvo Group, Caterpillar, Hitachi, Liebherr Group, Daimler Trucks, Navistar International, Freightliner Trucks, Kenworth, Bell Trucks America Inc., Komatsu, Doosan, Paccar and Western Star Trucks.
Key Developments:
In June 2024, Hitachi Ltd. and Microsoft Corp. announced a projected multibillion-dollar collaboration over the next three years that will accelerate social innovation with generative AI. Through this strategic alliance, Hitachi will propel growth of the Lumada business, with a planned revenue of 2.65 trillion yen (18.9 billion USD)*1 in FY2024, and will promote operational efficiency and productivity improvements for Hitachi Group’s 270,000 employees.
In January 2024, Volvo Group has signed an option agreement with John Cockerill Defense, which gives the Volvo Group the right to sell French military vehicle maker Arquus after mandatory consultations with staff representative bodies. The consultations are expected to be finalized in Q1 2024. The amount of the agreement was not disclosed.
In January 2024, Caterpillar Inc. has signed an electrification strategic agreement with CRH to advance the deployment of Caterpillar's zero-exhaust emissions solutions for electric off-highway trucks and charging solutions. CRH is the number one Electric Off-Highway Trucksaggregates producer in North America and the first company in that industry to sign such an agreement with Caterpillar.
Products Covered:
• Long-Haul Trucks
• Heavy-Duty Trucks
• Tractor-Trailers
• Logging Trucks
• Tanker Trucks
• Other Products
Fuel Types Covered:
• Diesel
• Electric
• Hybrid
• LNG
• Other Fuel Types
Applications Covered:
• Freight Transport
• Construction
• Waste Management
• Utility Services
• Public Transportation
• Other Applications
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 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 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 Class 8 Truck Market, By Product
5.1 Introduction
5.2 Long-Haul Trucks
5.3 Heavy-Duty Trucks
5.4 Tractor-Trailers
5.5 Logging Trucks
5.6 Tanker Trucks
5.7 Other Products
6 Global Class 8 Truck Market, By Fuel Type
6.1 Introduction
6.2 Diesel
6.3 Electric
6.4 Hybrid
6.5 LNG
6.6 Other Fuel Types
7 Global Class 8 Truck Market, By Application
7.1 Introduction
7.2 Freight Transport
7.3 Construction
7.4 Waste Management
7.5 Utility Services
7.6 Public Transportation
7.7 Other Applications
8 Global Class 8 Truck Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Volvo Group
10.2 Caterpillar
10.3 Hitachi
10.4 Liebherr Group
10.5 Daimler Trucks
10.6 Navistar International
10.7 Freightliner Trucks
10.8 Kenworth
10.9 Bell Trucks America Inc.
10.10 Komatsu
10.11 Doosan
10.12 Paccar
10.13 Western Star Trucks
List of Tables
1 Global Class 8 Truck Market Outlook, By Region (2022-2030) ($MN)
2 Global Class 8 Truck Market Outlook, By Product (2022-2030) ($MN)
3 Global Class 8 Truck Market Outlook, By Long-Haul Trucks (2022-2030) ($MN)
4 Global Class 8 Truck Market Outlook, By Heavy-Duty Trucks (2022-2030) ($MN)
5 Global Class 8 Truck Market Outlook, By Tractor-Trailers (2022-2030) ($MN)
6 Global Class 8 Truck Market Outlook, By Logging Trucks (2022-2030) ($MN)
7 Global Class 8 Truck Market Outlook, By Tanker Trucks (2022-2030) ($MN)
8 Global Class 8 Truck Market Outlook, By Other Products (2022-2030) ($MN)
9 Global Class 8 Truck Market Outlook, By Fuel Type (2022-2030) ($MN)
10 Global Class 8 Truck Market Outlook, By Diesel (2022-2030) ($MN)
11 Global Class 8 Truck Market Outlook, By Electric (2022-2030) ($MN)
12 Global Class 8 Truck Market Outlook, By Hybrid (2022-2030) ($MN)
13 Global Class 8 Truck Market Outlook, By LNG (2022-2030) ($MN)
14 Global Class 8 Truck Market Outlook, By Other Fuel Types (2022-2030) ($MN)
15 Global Class 8 Truck Market Outlook, By Application (2022-2030) ($MN)
16 Global Class 8 Truck Market Outlook, By Freight Transport (2022-2030) ($MN)
17 Global Class 8 Truck Market Outlook, By Construction (2022-2030) ($MN)
18 Global Class 8 Truck Market Outlook, By Waste Management (2022-2030) ($MN)
19 Global Class 8 Truck Market Outlook, By Utility Services (2022-2030) ($MN)
20 Global Class 8 Truck Market Outlook, By Public Transportation (2022-2030) ($MN)
21 Global Class 8 Truck Market Outlook, By Other Applications (2022-2030) ($MN)
22 North America Class 8 Truck Market Outlook, By Country (2022-2030) ($MN)
23 North America Class 8 Truck Market Outlook, By Product (2022-2030) ($MN)
24 North America Class 8 Truck Market Outlook, By Long-Haul Trucks (2022-2030) ($MN)
25 North America Class 8 Truck Market Outlook, By Heavy-Duty Trucks (2022-2030) ($MN)
26 North America Class 8 Truck Market Outlook, By Tractor-Trailers (2022-2030) ($MN)
27 North America Class 8 Truck Market Outlook, By Logging Trucks (2022-2030) ($MN)
28 North America Class 8 Truck Market Outlook, By Tanker Trucks (2022-2030) ($MN)
29 North America Class 8 Truck Market Outlook, By Other Products (2022-2030) ($MN)
30 North America Class 8 Truck Market Outlook, By Fuel Type (2022-2030) ($MN)
31 North America Class 8 Truck Market Outlook, By Diesel (2022-2030) ($MN)
32 North America Class 8 Truck Market Outlook, By Electric (2022-2030) ($MN)
33 North America Class 8 Truck Market Outlook, By Hybrid (2022-2030) ($MN)
34 North America Class 8 Truck Market Outlook, By LNG (2022-2030) ($MN)
35 North America Class 8 Truck Market Outlook, By Other Fuel Types (2022-2030) ($MN)
36 North America Class 8 Truck Market Outlook, By Application (2022-2030) ($MN)
37 North America Class 8 Truck Market Outlook, By Freight Transport (2022-2030) ($MN)
38 North America Class 8 Truck Market Outlook, By Construction (2022-2030) ($MN)
39 North America Class 8 Truck Market Outlook, By Waste Management (2022-2030) ($MN)
40 North America Class 8 Truck Market Outlook, By Utility Services (2022-2030) ($MN)
41 North America Class 8 Truck Market Outlook, By Public Transportation (2022-2030) ($MN)
42 North America Class 8 Truck Market Outlook, By Other Applications (2022-2030) ($MN)
43 Europe Class 8 Truck Market Outlook, By Country (2022-2030) ($MN)
44 Europe Class 8 Truck Market Outlook, By Product (2022-2030) ($MN)
45 Europe Class 8 Truck Market Outlook, By Long-Haul Trucks (2022-2030) ($MN)
46 Europe Class 8 Truck Market Outlook, By Heavy-Duty Trucks (2022-2030) ($MN)
47 Europe Class 8 Truck Market Outlook, By Tractor-Trailers (2022-2030) ($MN)
48 Europe Class 8 Truck Market Outlook, By Logging Trucks (2022-2030) ($MN)
49 Europe Class 8 Truck Market Outlook, By Tanker Trucks (2022-2030) ($MN)
50 Europe Class 8 Truck Market Outlook, By Other Products (2022-2030) ($MN)
51 Europe Class 8 Truck Market Outlook, By Fuel Type (2022-2030) ($MN)
52 Europe Class 8 Truck Market Outlook, By Diesel (2022-2030) ($MN)
53 Europe Class 8 Truck Market Outlook, By Electric (2022-2030) ($MN)
54 Europe Class 8 Truck Market Outlook, By Hybrid (2022-2030) ($MN)
55 Europe Class 8 Truck Market Outlook, By LNG (2022-2030) ($MN)
56 Europe Class 8 Truck Market Outlook, By Other Fuel Types (2022-2030) ($MN)
57 Europe Class 8 Truck Market Outlook, By Application (2022-2030) ($MN)
58 Europe Class 8 Truck Market Outlook, By Freight Transport (2022-2030) ($MN)
59 Europe Class 8 Truck Market Outlook, By Construction (2022-2030) ($MN)
60 Europe Class 8 Truck Market Outlook, By Waste Management (2022-2030) ($MN)
61 Europe Class 8 Truck Market Outlook, By Utility Services (2022-2030) ($MN)
62 Europe Class 8 Truck Market Outlook, By Public Transportation (2022-2030) ($MN)
63 Europe Class 8 Truck Market Outlook, By Other Applications (2022-2030) ($MN)
64 Asia Pacific Class 8 Truck Market Outlook, By Country (2022-2030) ($MN)
65 Asia Pacific Class 8 Truck Market Outlook, By Product (2022-2030) ($MN)
66 Asia Pacific Class 8 Truck Market Outlook, By Long-Haul Trucks (2022-2030) ($MN)
67 Asia Pacific Class 8 Truck Market Outlook, By Heavy-Duty Trucks (2022-2030) ($MN)
68 Asia Pacific Class 8 Truck Market Outlook, By Tractor-Trailers (2022-2030) ($MN)
69 Asia Pacific Class 8 Truck Market Outlook, By Logging Trucks (2022-2030) ($MN)
70 Asia Pacific Class 8 Truck Market Outlook, By Tanker Trucks (2022-2030) ($MN)
71 Asia Pacific Class 8 Truck Market Outlook, By Other Products (2022-2030) ($MN)
72 Asia Pacific Class 8 Truck Market Outlook, By Fuel Type (2022-2030) ($MN)
73 Asia Pacific Class 8 Truck Market Outlook, By Diesel (2022-2030) ($MN)
74 Asia Pacific Class 8 Truck Market Outlook, By Electric (2022-2030) ($MN)
75 Asia Pacific Class 8 Truck Market Outlook, By Hybrid (2022-2030) ($MN)
76 Asia Pacific Class 8 Truck Market Outlook, By LNG (2022-2030) ($MN)
77 Asia Pacific Class 8 Truck Market Outlook, By Other Fuel Types (2022-2030) ($MN)
78 Asia Pacific Class 8 Truck Market Outlook, By Application (2022-2030) ($MN)
79 Asia Pacific Class 8 Truck Market Outlook, By Freight Transport (2022-2030) ($MN)
80 Asia Pacific Class 8 Truck Market Outlook, By Construction (2022-2030) ($MN)
81 Asia Pacific Class 8 Truck Market Outlook, By Waste Management (2022-2030) ($MN)
82 Asia Pacific Class 8 Truck Market Outlook, By Utility Services (2022-2030) ($MN)
83 Asia Pacific Class 8 Truck Market Outlook, By Public Transportation (2022-2030) ($MN)
84 Asia Pacific Class 8 Truck Market Outlook, By Other Applications (2022-2030) ($MN)
85 South America Class 8 Truck Market Outlook, By Country (2022-2030) ($MN)
86 South America Class 8 Truck Market Outlook, By Product (2022-2030) ($MN)
87 South America Class 8 Truck Market Outlook, By Long-Haul Trucks (2022-2030) ($MN)
88 South America Class 8 Truck Market Outlook, By Heavy-Duty Trucks (2022-2030) ($MN)
89 South America Class 8 Truck Market Outlook, By Tractor-Trailers (2022-2030) ($MN)
90 South America Class 8 Truck Market Outlook, By Logging Trucks (2022-2030) ($MN)
91 South America Class 8 Truck Market Outlook, By Tanker Trucks (2022-2030) ($MN)
92 South America Class 8 Truck Market Outlook, By Other Products (2022-2030) ($MN)
93 South America Class 8 Truck Market Outlook, By Fuel Type (2022-2030) ($MN)
94 South America Class 8 Truck Market Outlook, By Diesel (2022-2030) ($MN)
95 South America Class 8 Truck Market Outlook, By Electric (2022-2030) ($MN)
96 South America Class 8 Truck Market Outlook, By Hybrid (2022-2030) ($MN)
97 South America Class 8 Truck Market Outlook, By LNG (2022-2030) ($MN)
98 South America Class 8 Truck Market Outlook, By Other Fuel Types (2022-2030) ($MN)
99 South America Class 8 Truck Market Outlook, By Application (2022-2030) ($MN)
100 South America Class 8 Truck Market Outlook, By Freight Transport (2022-2030) ($MN)
101 South America Class 8 Truck Market Outlook, By Construction (2022-2030) ($MN)
102 South America Class 8 Truck Market Outlook, By Waste Management (2022-2030) ($MN)
103 South America Class 8 Truck Market Outlook, By Utility Services (2022-2030) ($MN)
104 South America Class 8 Truck Market Outlook, By Public Transportation (2022-2030) ($MN)
105 South America Class 8 Truck Market Outlook, By Other Applications (2022-2030) ($MN)
106 Middle East & Africa Class 8 Truck Market Outlook, By Country (2022-2030) ($MN)
107 Middle East & Africa Class 8 Truck Market Outlook, By Product (2022-2030) ($MN)
108 Middle East & Africa Class 8 Truck Market Outlook, By Long-Haul Trucks (2022-2030) ($MN)
109 Middle East & Africa Class 8 Truck Market Outlook, By Heavy-Duty Trucks (2022-2030) ($MN)
110 Middle East & Africa Class 8 Truck Market Outlook, By Tractor-Trailers (2022-2030) ($MN)
111 Middle East & Africa Class 8 Truck Market Outlook, By Logging Trucks (2022-2030) ($MN)
112 Middle East & Africa Class 8 Truck Market Outlook, By Tanker Trucks (2022-2030) ($MN)
113 Middle East & Africa Class 8 Truck Market Outlook, By Other Products (2022-2030) ($MN)
114 Middle East & Africa Class 8 Truck Market Outlook, By Fuel Type (2022-2030) ($MN)
115 Middle East & Africa Class 8 Truck Market Outlook, By Diesel (2022-2030) ($MN)
116 Middle East & Africa Class 8 Truck Market Outlook, By Electric (2022-2030) ($MN)
117 Middle East & Africa Class 8 Truck Market Outlook, By Hybrid (2022-2030) ($MN)
118 Middle East & Africa Class 8 Truck Market Outlook, By LNG (2022-2030) ($MN)
119 Middle East & Africa Class 8 Truck Market Outlook, By Other Fuel Types (2022-2030) ($MN)
120 Middle East & Africa Class 8 Truck Market Outlook, By Application (2022-2030) ($MN)
121 Middle East & Africa Class 8 Truck Market Outlook, By Freight Transport (2022-2030) ($MN)
122 Middle East & Africa Class 8 Truck Market Outlook, By Construction (2022-2030) ($MN)
123 Middle East & Africa Class 8 Truck Market Outlook, By Waste Management (2022-2030) ($MN)
124 Middle East & Africa Class 8 Truck Market Outlook, By Utility Services (2022-2030) ($MN)
125 Middle East & Africa Class 8 Truck Market Outlook, By Public Transportation (2022-2030) ($MN)
126 Middle East & Africa Class 8 Truck Market Outlook, By Other Applications (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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