Cogeneration Equipment Market
Cogeneration Equipment Market Forecasts to 2030 - Global Analysis By Fuel (Biomass, Coal, Diesel, Natural Gas and Other Fuels), Capacity (Upto 30 MW, 31MW -60 MW and 61 MW- 100 MW), Technology, Application and By Geography
According to Stratistics MRC, the Global Cogeneration Equipment Market is accounted for $29.30 billion in 2023 and is expected to reach $62.40 billion by 2030 growing at a CAGR of 11.4% during the forecast period. Cogeneration equipment is used to generate both electricity and heat at the same time. Combustion turbines, steam turbines with boilers, reciprocating engines, generators, fuel cells, micro-turbines, heat recovery steam generators, waste heat boilers, and control systems are examples of cogeneration equipment. As more industrial and commercial establishments, developers, and utilities seek low-cost electrical energy and process heat, cogeneration not only uses exhaust heat to heat water or provide space heating but also provides environmental benefits.
According to the IEA (International Energy Agency), the demand for electricity is likely to increase upto 40.44 TWh by 2040.
Market Dynamics:
Driver:
Rising energy consumption
Rising energy consumption is expected to drive the growth of the cogeneration equipment market in the coming years. The volume of fuel consumed by a facility during any billing cycle, including natural gas, oil, propane, and electrical energy, is referred to as energy consumption. Cogeneration is a highly efficient energy generation technology. Cogeneration is critical for increasing energy efficiency and lowering energy costs. As a result, rising energy consumption is propelling the cogeneration equipment market.
Restraint:
High investment costs
Some of the major restraints for this cogeneration equipment market are the high initial investment requirements as well as the difficulty in obtaining proper utility connections. These systems are beneficial in the long run, but due to their complex technological requirements, their initial cost is very high when compared to conventional systems, and many small and medium-sized organisations and institutions are unable to afford them. Such factors are limiting the growth of the market.
Opportunity:
Government support in developed and emerging nations
The widespread adoption of micro-CHP systems in the industrial, residential, and small and medium enterprise (SME) sectors, combined with falling natural gas prices due to its abundant availability, has boosted demand for this equipment. The market is also benefiting from the increased emphasis placed by governments in both developed and developing countries on the production of clean, renewable, and efficient energy. Various technological advancements are also accelerating market growth.
Threat:
Limited scalability
Cogeneration systems are frequently designed for specific applications and may be difficult to scale to meet significant changes in energy demand. Long-term adaptation to changing energy needs may be difficult due to this limitation. Furthermore, integrating cogeneration equipment with existing energy systems and infrastructure can be difficult, particularly if the technology is incompatible with the current setup. This may necessitate additional changes and investments.
Covid-19 Impact:
COVID had a gradual effect on cogeneration equipment. Fuel production did not halt as a result of the lockdown, resulting in an increase in fuel supply, which increased co-generation directly without affecting the market. This decrease in such businesses led to a decrease in demand for cogeneration equipment, demonstrating the market's gradual decline. The construction industry accounts for a significant portion of cogeneration utilisation globally. However, several major projects have been halted as a result of the COVID-19 pandemic. As a result, demand for cogeneration equipment has decreased, resulting in a downturn in the global market.
The natural gas segment is expected to be the largest during the forecast period
Because of its widespread use and demand around the world, natural gas segment has dominated the market and is expected to continue to dominate in the future. This fuel's environmentally friendly properties prove to be a driving force in the market. This fuel's effective mileage is also becoming more important. Furthermore, natural gas is widely available in countries such as Germany and Russia, which is fueling segment expansion.
The gas turbine segment is expected to have the highest CAGR during the forecast period
The gas turbine segment is expected to have the highest CAGR during the forecast period. It is commonly used in industries or refineries such as pulp and paper, ceramics, food and beverage, chemicals, and pharmaceuticals. A cogeneration system continuously generates a variety of secondary energy sources while using primary energy (fuel) to power a gas turbine. In a gas turbine cogeneration system, fuel is the primary energy source, and many types of energy are produced to increase energy efficiency.
Region with largest share:
Due to its rapid development and industrialization, the North American market is expected to register the largest market share. As the population has grown, so has the demand for goods and the supply chain. The extreme weather increased the demand for space heating and the development of micro-CHP, which leveraged the demand for cogeneration equipment. Massive demand for power and electricity as a result of technological advancements and the expansion of commercial spaces drives demand for HVAC, which fuels the growth of the cogeneration equipment market in North America.
Region with highest CAGR:
Due to the widespread availability of natural gas in economies such as Russia and Germany, Europe is expected to experience the highest growth rate during the forecast period. Over the forecast period, demand for this equipment is expected to be driven by city space and cost constraints, as well as strict environmental regulations. Despite the region's significant power and energy-producing capacities, some of its economies account for the majority of global electricity imports. Moreover, this region is home to a number of large-scale businesses and industries with the financial resources to place large-scale orders for this equipment.
Key players in the market
Some of the key players in Cogeneration Equipment market include 2G Energy AG, A.B. HOLDING S.P.A, Allied Equipments Inc., Almeg Controls, Alstorm Power, American DG Energy Inc., Baxi Group, Siemens AG, Caterpillar Inc., Cidea Uno Inc., Clarke Energy, General Electric, Kawasaki heavy industries Ltd., Mitsubishi Heavy Industries Ltd., Perry Process Equipment Ltd., Robert BOSCH Gmbh, Rolls Royce PLC., Siemens, Solar Turbines Inc., Sundrop Fuels Inc., Tecogen, Inc., Turner Crane and US Green Energy Ltd..
Key Developments:
In July 2023, KEPPEL, along with a consortium with Mitsubishi Power Asia-Pacific and Jurong Engineering, broke ground for Singapore’s first hydrogen-ready co-generation plant, located in the Sakra sector of Jurong Island.
In August 2021, Mitsubishi Heavy Industries Ltd and Toho Gas together declared that they have successfully conducted a test operation of hydrogen (H2) mixed fuel combustion and city gas in a commercial gas engine for a cogeneration system.
Fuels Covered:
• Biomass
• Coal
• Diesel
• Natural Gas
• Other Fuels
Capacities Covered:
• Upto 30 MW
• 31MW -60 MW
• 61 MW- 100 MW
Technologies Covered:
• Steam Turbine
• Gas Turbine
• Combined Cycle Gas Turbine
• Reciprocating Engine
• Other Technologies
Applications Covered:
• Industrial
• Residential
• Commercial
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 2021, 2022, 2023, 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 Technology 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 Cogeneration Equipment Market, By Fuel
5.1 Introduction
5.2 Biomass
5.3 Coal
5.4 Diesel
5.5 Natural Gas
5.6 Other Fuels
6 Global Cogeneration Equipment Market, By Capacity
6.1 Introduction
6.2 Upto 30 MW
6.3 31MW -60 MW
6.4 61 MW- 100 MW
7 Global Cogeneration Equipment Market, By Technology
7.1 Introduction
7.2 Steam Turbine
7.3 Gas Turbine
7.4 Combined Cycle Gas Turbine
7.5 Reciprocating Engine
7.6 Other Technologies
8 Global Cogeneration Equipment Market, By Application
8.1 Introduction
8.2 Industrial
8.3 Residential
8.4 Commercial
9 Global Cogeneration Equipment 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 2G Energy AG
11.2 A.B. HOLDING S.P.A
11.3 Allied Equipments Inc.
11.4 Almeg Controls
11.5 Alstorm Power
11.6 American DG Energy Inc.
11.7 Baxi Group, Siemens AG
11.8 Caterpillar Inc.
11.9 Cidea Uno Inc.
11.10 Clarke Energy
11.11 General Electric
11.12 Kawasaki heavy industries Ltd.
11.13 Mitsubishi Heavy Industries Ltd.
11.14 Perry Process Equipment Ltd.
11.15 Robert BOSCH Gmbh
11.16 Rolls Royce PLC.
11.17 Siemens
11.18 Solar Turbines Inc.
11.19 Sundrop Fuels Inc.
11.20 Tecogen, Inc.
11.21 Turner Crane
11.22 US Green Energy Ltd.
List of Tables
1 Global Cogeneration Equipment Market Outlook, By Region (2021-2030) ($MN)
2 Global Cogeneration Equipment Market Outlook, By Fuel (2021-2030) ($MN)
3 Global Cogeneration Equipment Market Outlook, By Biomass (2021-2030) ($MN)
4 Global Cogeneration Equipment Market Outlook, By Coal (2021-2030) ($MN)
5 Global Cogeneration Equipment Market Outlook, By Diesel (2021-2030) ($MN)
6 Global Cogeneration Equipment Market Outlook, By Natural Gas (2021-2030) ($MN)
7 Global Cogeneration Equipment Market Outlook, By Other Fuels (2021-2030) ($MN)
8 Global Cogeneration Equipment Market Outlook, By Capacity (2021-2030) ($MN)
9 Global Cogeneration Equipment Market Outlook, By Upto 30 MW (2021-2030) ($MN)
10 Global Cogeneration Equipment Market Outlook, By 31MW -60 MW (2021-2030) ($MN)
11 Global Cogeneration Equipment Market Outlook, By 61 MW- 100 MW (2021-2030) ($MN)
12 Global Cogeneration Equipment Market Outlook, By Technology (2021-2030) ($MN)
13 Global Cogeneration Equipment Market Outlook, By Steam Turbine (2021-2030) ($MN)
14 Global Cogeneration Equipment Market Outlook, By Gas Turbine (2021-2030) ($MN)
15 Global Cogeneration Equipment Market Outlook, By Combined Cycle Gas Turbine (2021-2030) ($MN)
16 Global Cogeneration Equipment Market Outlook, By Reciprocating Engine (2021-2030) ($MN)
17 Global Cogeneration Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
18 Global Cogeneration Equipment Market Outlook, By Application (2021-2030) ($MN)
19 Global Cogeneration Equipment Market Outlook, By Industrial (2021-2030) ($MN)
20 Global Cogeneration Equipment Market Outlook, By Residential (2021-2030) ($MN)
21 Global Cogeneration Equipment Market Outlook, By Commercial (2021-2030) ($MN)
22 North America Cogeneration Equipment Market Outlook, By Country (2021-2030) ($MN)
23 North America Cogeneration Equipment Market Outlook, By Fuel (2021-2030) ($MN)
24 North America Cogeneration Equipment Market Outlook, By Biomass (2021-2030) ($MN)
25 North America Cogeneration Equipment Market Outlook, By Coal (2021-2030) ($MN)
26 North America Cogeneration Equipment Market Outlook, By Diesel (2021-2030) ($MN)
27 North America Cogeneration Equipment Market Outlook, By Natural Gas (2021-2030) ($MN)
28 North America Cogeneration Equipment Market Outlook, By Other Fuels (2021-2030) ($MN)
29 North America Cogeneration Equipment Market Outlook, By Capacity (2021-2030) ($MN)
30 North America Cogeneration Equipment Market Outlook, By Upto 30 MW (2021-2030) ($MN)
31 North America Cogeneration Equipment Market Outlook, By 31MW -60 MW (2021-2030) ($MN)
32 North America Cogeneration Equipment Market Outlook, By 61 MW- 100 MW (2021-2030) ($MN)
33 North America Cogeneration Equipment Market Outlook, By Technology (2021-2030) ($MN)
34 North America Cogeneration Equipment Market Outlook, By Steam Turbine (2021-2030) ($MN)
35 North America Cogeneration Equipment Market Outlook, By Gas Turbine (2021-2030) ($MN)
36 North America Cogeneration Equipment Market Outlook, By Combined Cycle Gas Turbine (2021-2030) ($MN)
37 North America Cogeneration Equipment Market Outlook, By Reciprocating Engine (2021-2030) ($MN)
38 North America Cogeneration Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
39 North America Cogeneration Equipment Market Outlook, By Application (2021-2030) ($MN)
40 North America Cogeneration Equipment Market Outlook, By Industrial (2021-2030) ($MN)
41 North America Cogeneration Equipment Market Outlook, By Residential (2021-2030) ($MN)
42 North America Cogeneration Equipment Market Outlook, By Commercial (2021-2030) ($MN)
43 Europe Cogeneration Equipment Market Outlook, By Country (2021-2030) ($MN)
44 Europe Cogeneration Equipment Market Outlook, By Fuel (2021-2030) ($MN)
45 Europe Cogeneration Equipment Market Outlook, By Biomass (2021-2030) ($MN)
46 Europe Cogeneration Equipment Market Outlook, By Coal (2021-2030) ($MN)
47 Europe Cogeneration Equipment Market Outlook, By Diesel (2021-2030) ($MN)
48 Europe Cogeneration Equipment Market Outlook, By Natural Gas (2021-2030) ($MN)
49 Europe Cogeneration Equipment Market Outlook, By Other Fuels (2021-2030) ($MN)
50 Europe Cogeneration Equipment Market Outlook, By Capacity (2021-2030) ($MN)
51 Europe Cogeneration Equipment Market Outlook, By Upto 30 MW (2021-2030) ($MN)
52 Europe Cogeneration Equipment Market Outlook, By 31MW -60 MW (2021-2030) ($MN)
53 Europe Cogeneration Equipment Market Outlook, By 61 MW- 100 MW (2021-2030) ($MN)
54 Europe Cogeneration Equipment Market Outlook, By Technology (2021-2030) ($MN)
55 Europe Cogeneration Equipment Market Outlook, By Steam Turbine (2021-2030) ($MN)
56 Europe Cogeneration Equipment Market Outlook, By Gas Turbine (2021-2030) ($MN)
57 Europe Cogeneration Equipment Market Outlook, By Combined Cycle Gas Turbine (2021-2030) ($MN)
58 Europe Cogeneration Equipment Market Outlook, By Reciprocating Engine (2021-2030) ($MN)
59 Europe Cogeneration Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
60 Europe Cogeneration Equipment Market Outlook, By Application (2021-2030) ($MN)
61 Europe Cogeneration Equipment Market Outlook, By Industrial (2021-2030) ($MN)
62 Europe Cogeneration Equipment Market Outlook, By Residential (2021-2030) ($MN)
63 Europe Cogeneration Equipment Market Outlook, By Commercial (2021-2030) ($MN)
64 Asia Pacific Cogeneration Equipment Market Outlook, By Country (2021-2030) ($MN)
65 Asia Pacific Cogeneration Equipment Market Outlook, By Fuel (2021-2030) ($MN)
66 Asia Pacific Cogeneration Equipment Market Outlook, By Biomass (2021-2030) ($MN)
67 Asia Pacific Cogeneration Equipment Market Outlook, By Coal (2021-2030) ($MN)
68 Asia Pacific Cogeneration Equipment Market Outlook, By Diesel (2021-2030) ($MN)
69 Asia Pacific Cogeneration Equipment Market Outlook, By Natural Gas (2021-2030) ($MN)
70 Asia Pacific Cogeneration Equipment Market Outlook, By Other Fuels (2021-2030) ($MN)
71 Asia Pacific Cogeneration Equipment Market Outlook, By Capacity (2021-2030) ($MN)
72 Asia Pacific Cogeneration Equipment Market Outlook, By Upto 30 MW (2021-2030) ($MN)
73 Asia Pacific Cogeneration Equipment Market Outlook, By 31MW -60 MW (2021-2030) ($MN)
74 Asia Pacific Cogeneration Equipment Market Outlook, By 61 MW- 100 MW (2021-2030) ($MN)
75 Asia Pacific Cogeneration Equipment Market Outlook, By Technology (2021-2030) ($MN)
76 Asia Pacific Cogeneration Equipment Market Outlook, By Steam Turbine (2021-2030) ($MN)
77 Asia Pacific Cogeneration Equipment Market Outlook, By Gas Turbine (2021-2030) ($MN)
78 Asia Pacific Cogeneration Equipment Market Outlook, By Combined Cycle Gas Turbine (2021-2030) ($MN)
79 Asia Pacific Cogeneration Equipment Market Outlook, By Reciprocating Engine (2021-2030) ($MN)
80 Asia Pacific Cogeneration Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
81 Asia Pacific Cogeneration Equipment Market Outlook, By Application (2021-2030) ($MN)
82 Asia Pacific Cogeneration Equipment Market Outlook, By Industrial (2021-2030) ($MN)
83 Asia Pacific Cogeneration Equipment Market Outlook, By Residential (2021-2030) ($MN)
84 Asia Pacific Cogeneration Equipment Market Outlook, By Commercial (2021-2030) ($MN)
85 South America Cogeneration Equipment Market Outlook, By Country (2021-2030) ($MN)
86 South America Cogeneration Equipment Market Outlook, By Fuel (2021-2030) ($MN)
87 South America Cogeneration Equipment Market Outlook, By Biomass (2021-2030) ($MN)
88 South America Cogeneration Equipment Market Outlook, By Coal (2021-2030) ($MN)
89 South America Cogeneration Equipment Market Outlook, By Diesel (2021-2030) ($MN)
90 South America Cogeneration Equipment Market Outlook, By Natural Gas (2021-2030) ($MN)
91 South America Cogeneration Equipment Market Outlook, By Other Fuels (2021-2030) ($MN)
92 South America Cogeneration Equipment Market Outlook, By Capacity (2021-2030) ($MN)
93 South America Cogeneration Equipment Market Outlook, By Upto 30 MW (2021-2030) ($MN)
94 South America Cogeneration Equipment Market Outlook, By 31MW -60 MW (2021-2030) ($MN)
95 South America Cogeneration Equipment Market Outlook, By 61 MW- 100 MW (2021-2030) ($MN)
96 South America Cogeneration Equipment Market Outlook, By Technology (2021-2030) ($MN)
97 South America Cogeneration Equipment Market Outlook, By Steam Turbine (2021-2030) ($MN)
98 South America Cogeneration Equipment Market Outlook, By Gas Turbine (2021-2030) ($MN)
99 South America Cogeneration Equipment Market Outlook, By Combined Cycle Gas Turbine (2021-2030) ($MN)
100 South America Cogeneration Equipment Market Outlook, By Reciprocating Engine (2021-2030) ($MN)
101 South America Cogeneration Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
102 South America Cogeneration Equipment Market Outlook, By Application (2021-2030) ($MN)
103 South America Cogeneration Equipment Market Outlook, By Industrial (2021-2030) ($MN)
104 South America Cogeneration Equipment Market Outlook, By Residential (2021-2030) ($MN)
105 South America Cogeneration Equipment Market Outlook, By Commercial (2021-2030) ($MN)
106 Middle East & Africa Cogeneration Equipment Market Outlook, By Country (2021-2030) ($MN)
107 Middle East & Africa Cogeneration Equipment Market Outlook, By Fuel (2021-2030) ($MN)
108 Middle East & Africa Cogeneration Equipment Market Outlook, By Biomass (2021-2030) ($MN)
109 Middle East & Africa Cogeneration Equipment Market Outlook, By Coal (2021-2030) ($MN)
110 Middle East & Africa Cogeneration Equipment Market Outlook, By Diesel (2021-2030) ($MN)
111 Middle East & Africa Cogeneration Equipment Market Outlook, By Natural Gas (2021-2030) ($MN)
112 Middle East & Africa Cogeneration Equipment Market Outlook, By Other Fuels (2021-2030) ($MN)
113 Middle East & Africa Cogeneration Equipment Market Outlook, By Capacity (2021-2030) ($MN)
114 Middle East & Africa Cogeneration Equipment Market Outlook, By Upto 30 MW (2021-2030) ($MN)
115 Middle East & Africa Cogeneration Equipment Market Outlook, By 31MW -60 MW (2021-2030) ($MN)
116 Middle East & Africa Cogeneration Equipment Market Outlook, By 61 MW- 100 MW (2021-2030) ($MN)
117 Middle East & Africa Cogeneration Equipment Market Outlook, By Technology (2021-2030) ($MN)
118 Middle East & Africa Cogeneration Equipment Market Outlook, By Steam Turbine (2021-2030) ($MN)
119 Middle East & Africa Cogeneration Equipment Market Outlook, By Gas Turbine (2021-2030) ($MN)
120 Middle East & Africa Cogeneration Equipment Market Outlook, By Combined Cycle Gas Turbine (2021-2030) ($MN)
121 Middle East & Africa Cogeneration Equipment Market Outlook, By Reciprocating Engine (2021-2030) ($MN)
122 Middle East & Africa Cogeneration Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
123 Middle East & Africa Cogeneration Equipment Market Outlook, By Application (2021-2030) ($MN)
124 Middle East & Africa Cogeneration Equipment Market Outlook, By Industrial (2021-2030) ($MN)
125 Middle East & Africa Cogeneration Equipment Market Outlook, By Residential (2021-2030) ($MN)
126 Middle East & Africa Cogeneration Equipment Market Outlook, By Commercial (2021-2030) ($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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