Distribution Transformer Market
Distribution Transformer Market Forecasts to 2030 - Global Analysis By Product Type (Pole Mounted, Pad Mounted and Other Product Types), Insulation Type (Dry, Liquid Immersed, Solid and Other Insulation Types), Power Rating (Up to 500 kVA, 501 kVA-2,500 kVA, 2,501 kVA-10,000 kVA and Above 10,000 kVA), End User and By Geography
According to Stratistics MRC, the Global Distribution Transformer Market is accounted for $28.8 billion in 2023 and is expected to reach $57.6 billion by 2030 growing at a CAGR of 10.4% during the forecast period. The distribution transformer market refers to the sector of the electrical power industry involved in the production, distribution, and sale of transformers designed to step down high-voltage electricity from transmission lines to lower voltage suitable for use in homes, businesses, and industrial settings. These transformers play a crucial role in ensuring efficient and safe electricity distribution by reducing voltage levels to meet consumer requirements. These transformers are integral components of electrical grids, responsible for stepping down high-voltage electricity from transmission lines to lower voltage levels suitable for consumer use.
According to U.S. Energy Information Administration, a total of 4,243 terawatt-hours (TWh) of electricity were generated in the United States in 2022, an increase of approximately 3% over the previous year.
Market Dynamics:
Driver:
Integration of renewable energy
As the global push for sustainable energy intensifies, there's a growing need to accommodate the intermittent nature of renewable sources within existing power grids. Distribution transformers play a crucial role in this transition by facilitating the efficient distribution of electricity from renewable generation sites to end-users. With the decentralization of power generation through renewables, distribution transformers are required to handle bidirectional power flow, voltage fluctuations, and varying load patterns. Additionally, the increasing adoption of smart grid technologies further amplifies the demand for advanced distribution transformers capable of supporting bidirectional power flow and enabling grid stability.
Restraint:
High initial investment
The installation of distribution transformers entails substantial upfront costs, encompassing not only the purchase of the transformers themselves but also expenses associated with site preparation, transportation, and installation. This financial barrier can dissuade utilities, infrastructure developers, and governments from investing in transformer infrastructure upgrades or expansions, particularly in regions with limited financial resources. However, high initial investment demands may prolong the payback period for such projects, deterring potential investors and hindering the adoption of more efficient and advanced transformer technologies.
Opportunity:
Technological advancements
Innovations such as smart grids, digital monitoring systems, and advanced materials are reshaping the traditional landscape of distribution transformers. Smart grid technologies enable real-time monitoring and control, optimizing energy distribution and reducing losses. Digital monitoring systems provide comprehensive data analytics, allowing utilities to predict maintenance needs and improve overall performance. Additionally, advancements in materials, such as amorphous metal cores and eco-friendly insulation, are increasing transformer efficiency while reducing environmental impact.
Threat:
Limited access to electricity grid
Limited access to the electricity grid presents a significant challenge to the distribution transformer market. In regions where infrastructure is underdeveloped or inaccessible, the installation and operation of distribution transformers become constrained. This limitation impedes the expansion and modernization of electricity distribution networks, hindering economic growth and societal development. Remote or rural areas, often lacking reliable grid connectivity, suffer from inadequate power supply, affecting industrial productivity and healthcare services.
Covid-19 Impact:
Disruptions in global supply chains and manufacturing operations led to delays in production and delivery of distribution transformers, causing supply shortages and impacting project timelines. Economic uncertainties prompted many utilities and industrial sectors to postpone or cancel infrastructure projects, reducing the demand for distribution transformers. However, travel restrictions and lockdown measures hindered routine maintenance and installation activities, further dampening market growth.
The pole mounted segment is expected to be the largest during the forecast period
Pole Mounted segment is expected to be the largest during the forecast period. These transformers are mounted on poles, making them easily accessible for installation and maintenance, particularly in areas with limited space or difficult terrain. Their compact design and robust construction make them suitable for outdoor installations, ensuring reliable power distribution even in harsh environmental conditions. Additionally, the increasing demand for electricity in both developed and emerging economies is driving the adoption of Pole Mounted transformers as they offer a cost-effective solution for expanding power infrastructure rapidly.
The liquid immersed segment is expected to have the highest CAGR during the forecast period
Liquid Immersed segment is expected to have the highest CAGR during the forecast period. Liquid-immersed transformers offer higher efficiency and better cooling properties compared to dry-type transformers, making them ideal for various applications, especially in regions with high ambient temperatures. These transformers require less maintenance, resulting in reduced operational costs over their lifespan. Moreover, advancements in insulation materials and design techniques have enhanced the reliability and performance of liquid-immersed transformers, further driving their demand.
Region with largest share:
Asia Pacific region commanded the largest share of the market throughout the projected time frame. Sales of distribution transformers have expanded in pace with the expansion of power production facilities and transmission infrastructure. The aim of the Indian government's electrical network strengthening initiative is to create a robust and intelligent electrical grid across the nation. The Indian government approved projects worth USD 4.12 billion as of February 2022 under the Integrated Power Development Program to improve the nation's urban sub-transmission and distribution networks, which is anticipated to support the expansion of the distribution transformer market.
Region with highest CAGR:
The Asia Pacific region is experiencing a substantial boom in the market throughout the extrapolated period. As countries in the region undergo rapid urbanization and industrialization, there is a pressing need to upgrade and modernize outdated power distribution systems. Aging transformers not only pose reliability and safety concerns but also lack the efficiency and capacity required to meet increasing electricity demand. Moreover, this surge in replacement activities is propelling the demand for distribution transformers, creating lucrative opportunities for manufacturers and suppliers in the market.
Key players in the market
Some of the key players in Distribution Transformer market include ABB Ltd, Bharat Heavy Electricals Ltd, Brush Electrical Machines Ltd, Crompton Greaves Ltd, Eaton Corporation PLC, Fuji Electric Co. Ltd, General Electric Company, Hitachi Energy, Ltd., Kirloskar Electric Company Ltd, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, SPX Transformer Solutions Inc. and Wilson Transformer Company.
Key Developments:
In August 2022, RESA Power, LLC, a global provider of transformer service, power systems, electrical testing, and life extension solutions for power distribution equipment, announced the acquisition of Advanced Electrical Services, Ltd., based in Alberta, Canada. Advanced Electrical Services (AES) is a NETA-accredited company that provides electrical testing services throughout Western Canada.
In March 2022, the State Grid Corporation of China (SGCC), the country's main grid operator, ordered two 110 kilovolt, 63 megavolt, ampere EconiQTM power transformers from Hitachi Energy for an innovative substation project being carried out in Jiangsu Province on China's east coast. This project aims to advance the use of sustainable technology, which is consistent with the policies of SGCC and Hitachi Energy.
In March 2022, Adani Transmission Limited (ATL) is building a transmission line and substation from Kharghar to Vikhroli that will increase power supply by 1,000 MW and be completed by the end of 2023.
In March 2022, Integrated Power Services (IPS), a North American company in the service and repair of distribution transformers and power transmission products, agreed to acquire ABB's US and Canadian transformers repair businesses. The sale includes ABB's Beloeil, Quebec, coil manufacturing facility and its Denver, Colorado, service center.
Product Types Covered:
• Pole Mounted
• Pad Mounted
• Other Product Types
Insulation Types Covered:
• Dry
• Liquid Immersed
• Solid
• Other Insulation Types
Power Ratings Covered:
• Up to 500 kVA
• 501 kVA–2,500 kVA
• 2,501 kVA–10,000 kVA
• Above 10,000 kVA
End Users Covered:
• Commercial
• Industrial
• Power Utilities
• Residential
• 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 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 Product Analysis
3.7 End User 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 Distribution Transformer Market, By Product Type
5.1 Introduction
5.2 Pole Mounted
5.3 Pad Mounted
5.4 Other Product Types
6 Global Distribution Transformer Market, By Insulation Type
6.1 Introduction
6.2 Dry
6.3 Liquid Immersed
6.4 Solid
6.5 Other Insulation Types
7 Global Distribution Transformer Market, By Power Rating
7.1 Introduction
7.2 Up to 500 kVA
7.3 501 kVA–2,500 kVA
7.4 2,501 kVA–10,000 kVA
7.5 Above 10,000 kVA
8 Global Distribution Transformer Market, By End User
8.1 Introduction
8.2 Commercial
8.3 Industrial
8.4 Power Utilities
8.5 Residential
8.6 Other End Users
9 Global Distribution Transformer 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 ABB Ltd
11.2 Bharat Heavy Electricals Ltd
11.3 Brush Electrical Machines Ltd
11.4 Crompton Greaves Ltd
11.5 Eaton Corporation PLC
11.6 Fuji Electric Co. Ltd
11.7 General Electric Company
11.8 Hitachi Energy, Ltd.
11.9 Kirloskar Electric Company Ltd
11.10 Mitsubishi Electric Corporation
11.11 Schneider Electric SE
11.12 Siemens AG
11.13 SPX Transformer Solutions Inc.
11.14 Wilson Transformer Company
List of Tables
1 Global Distribution Transformer Market Outlook, By Region (2021-2030) ($MN)
2 Global Distribution Transformer Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Distribution Transformer Market Outlook, By Pole Mounted (2021-2030) ($MN)
4 Global Distribution Transformer Market Outlook, By Pad Mounted (2021-2030) ($MN)
5 Global Distribution Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
6 Global Distribution Transformer Market Outlook, By Insulation Type (2021-2030) ($MN)
7 Global Distribution Transformer Market Outlook, By Dry (2021-2030) ($MN)
8 Global Distribution Transformer Market Outlook, By Liquid Immersed (2021-2030) ($MN)
9 Global Distribution Transformer Market Outlook, By Solid (2021-2030) ($MN)
10 Global Distribution Transformer Market Outlook, By Other Insulation Types (2021-2030) ($MN)
11 Global Distribution Transformer Market Outlook, By Power Rating (2021-2030) ($MN)
12 Global Distribution Transformer Market Outlook, By Up to 500 kVA (2021-2030) ($MN)
13 Global Distribution Transformer Market Outlook, By 501 kVA–2,500 kVA (2021-2030) ($MN)
14 Global Distribution Transformer Market Outlook, By 2,501 kVA–10,000 kVA (2021-2030) ($MN)
15 Global Distribution Transformer Market Outlook, By Above 10,000 kVA (2021-2030) ($MN)
16 Global Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
17 Global Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
18 Global Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
19 Global Distribution Transformer Market Outlook, By Power Utilities (2021-2030) ($MN)
20 Global Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
21 Global Distribution Transformer Market Outlook, By Other End Users (2021-2030) ($MN)
22 North America Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
23 North America Distribution Transformer Market Outlook, By Product Type (2021-2030) ($MN)
24 North America Distribution Transformer Market Outlook, By Pole Mounted (2021-2030) ($MN)
25 North America Distribution Transformer Market Outlook, By Pad Mounted (2021-2030) ($MN)
26 North America Distribution Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
27 North America Distribution Transformer Market Outlook, By Insulation Type (2021-2030) ($MN)
28 North America Distribution Transformer Market Outlook, By Dry (2021-2030) ($MN)
29 North America Distribution Transformer Market Outlook, By Liquid Immersed (2021-2030) ($MN)
30 North America Distribution Transformer Market Outlook, By Solid (2021-2030) ($MN)
31 North America Distribution Transformer Market Outlook, By Other Insulation Types (2021-2030) ($MN)
32 North America Distribution Transformer Market Outlook, By Power Rating (2021-2030) ($MN)
33 North America Distribution Transformer Market Outlook, By Up to 500 kVA (2021-2030) ($MN)
34 North America Distribution Transformer Market Outlook, By 501 kVA–2,500 kVA (2021-2030) ($MN)
35 North America Distribution Transformer Market Outlook, By 2,501 kVA–10,000 kVA (2021-2030) ($MN)
36 North America Distribution Transformer Market Outlook, By Above 10,000 kVA (2021-2030) ($MN)
37 North America Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
38 North America Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
39 North America Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
40 North America Distribution Transformer Market Outlook, By Power Utilities (2021-2030) ($MN)
41 North America Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
42 North America Distribution Transformer Market Outlook, By Other End Users (2021-2030) ($MN)
43 Europe Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
44 Europe Distribution Transformer Market Outlook, By Product Type (2021-2030) ($MN)
45 Europe Distribution Transformer Market Outlook, By Pole Mounted (2021-2030) ($MN)
46 Europe Distribution Transformer Market Outlook, By Pad Mounted (2021-2030) ($MN)
47 Europe Distribution Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
48 Europe Distribution Transformer Market Outlook, By Insulation Type (2021-2030) ($MN)
49 Europe Distribution Transformer Market Outlook, By Dry (2021-2030) ($MN)
50 Europe Distribution Transformer Market Outlook, By Liquid Immersed (2021-2030) ($MN)
51 Europe Distribution Transformer Market Outlook, By Solid (2021-2030) ($MN)
52 Europe Distribution Transformer Market Outlook, By Other Insulation Types (2021-2030) ($MN)
53 Europe Distribution Transformer Market Outlook, By Power Rating (2021-2030) ($MN)
54 Europe Distribution Transformer Market Outlook, By Up to 500 kVA (2021-2030) ($MN)
55 Europe Distribution Transformer Market Outlook, By 501 kVA–2,500 kVA (2021-2030) ($MN)
56 Europe Distribution Transformer Market Outlook, By 2,501 kVA–10,000 kVA (2021-2030) ($MN)
57 Europe Distribution Transformer Market Outlook, By Above 10,000 kVA (2021-2030) ($MN)
58 Europe Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
59 Europe Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
60 Europe Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
61 Europe Distribution Transformer Market Outlook, By Power Utilities (2021-2030) ($MN)
62 Europe Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
63 Europe Distribution Transformer Market Outlook, By Other End Users (2021-2030) ($MN)
64 Asia Pacific Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
65 Asia Pacific Distribution Transformer Market Outlook, By Product Type (2021-2030) ($MN)
66 Asia Pacific Distribution Transformer Market Outlook, By Pole Mounted (2021-2030) ($MN)
67 Asia Pacific Distribution Transformer Market Outlook, By Pad Mounted (2021-2030) ($MN)
68 Asia Pacific Distribution Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
69 Asia Pacific Distribution Transformer Market Outlook, By Insulation Type (2021-2030) ($MN)
70 Asia Pacific Distribution Transformer Market Outlook, By Dry (2021-2030) ($MN)
71 Asia Pacific Distribution Transformer Market Outlook, By Liquid Immersed (2021-2030) ($MN)
72 Asia Pacific Distribution Transformer Market Outlook, By Solid (2021-2030) ($MN)
73 Asia Pacific Distribution Transformer Market Outlook, By Other Insulation Types (2021-2030) ($MN)
74 Asia Pacific Distribution Transformer Market Outlook, By Power Rating (2021-2030) ($MN)
75 Asia Pacific Distribution Transformer Market Outlook, By Up to 500 kVA (2021-2030) ($MN)
76 Asia Pacific Distribution Transformer Market Outlook, By 501 kVA–2,500 kVA (2021-2030) ($MN)
77 Asia Pacific Distribution Transformer Market Outlook, By 2,501 kVA–10,000 kVA (2021-2030) ($MN)
78 Asia Pacific Distribution Transformer Market Outlook, By Above 10,000 kVA (2021-2030) ($MN)
79 Asia Pacific Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
80 Asia Pacific Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
81 Asia Pacific Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
82 Asia Pacific Distribution Transformer Market Outlook, By Power Utilities (2021-2030) ($MN)
83 Asia Pacific Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
84 Asia Pacific Distribution Transformer Market Outlook, By Other End Users (2021-2030) ($MN)
85 South America Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
86 South America Distribution Transformer Market Outlook, By Product Type (2021-2030) ($MN)
87 South America Distribution Transformer Market Outlook, By Pole Mounted (2021-2030) ($MN)
88 South America Distribution Transformer Market Outlook, By Pad Mounted (2021-2030) ($MN)
89 South America Distribution Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
90 South America Distribution Transformer Market Outlook, By Insulation Type (2021-2030) ($MN)
91 South America Distribution Transformer Market Outlook, By Dry (2021-2030) ($MN)
92 South America Distribution Transformer Market Outlook, By Liquid Immersed (2021-2030) ($MN)
93 South America Distribution Transformer Market Outlook, By Solid (2021-2030) ($MN)
94 South America Distribution Transformer Market Outlook, By Other Insulation Types (2021-2030) ($MN)
95 South America Distribution Transformer Market Outlook, By Power Rating (2021-2030) ($MN)
96 South America Distribution Transformer Market Outlook, By Up to 500 kVA (2021-2030) ($MN)
97 South America Distribution Transformer Market Outlook, By 501 kVA–2,500 kVA (2021-2030) ($MN)
98 South America Distribution Transformer Market Outlook, By 2,501 kVA–10,000 kVA (2021-2030) ($MN)
99 South America Distribution Transformer Market Outlook, By Above 10,000 kVA (2021-2030) ($MN)
100 South America Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
101 South America Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
102 South America Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
103 South America Distribution Transformer Market Outlook, By Power Utilities (2021-2030) ($MN)
104 South America Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
105 South America Distribution Transformer Market Outlook, By Other End Users (2021-2030) ($MN)
106 Middle East & Africa Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
107 Middle East & Africa Distribution Transformer Market Outlook, By Product Type (2021-2030) ($MN)
108 Middle East & Africa Distribution Transformer Market Outlook, By Pole Mounted (2021-2030) ($MN)
109 Middle East & Africa Distribution Transformer Market Outlook, By Pad Mounted (2021-2030) ($MN)
110 Middle East & Africa Distribution Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
111 Middle East & Africa Distribution Transformer Market Outlook, By Insulation Type (2021-2030) ($MN)
112 Middle East & Africa Distribution Transformer Market Outlook, By Dry (2021-2030) ($MN)
113 Middle East & Africa Distribution Transformer Market Outlook, By Liquid Immersed (2021-2030) ($MN)
114 Middle East & Africa Distribution Transformer Market Outlook, By Solid (2021-2030) ($MN)
115 Middle East & Africa Distribution Transformer Market Outlook, By Other Insulation Types (2021-2030) ($MN)
116 Middle East & Africa Distribution Transformer Market Outlook, By Power Rating (2021-2030) ($MN)
117 Middle East & Africa Distribution Transformer Market Outlook, By Up to 500 kVA (2021-2030) ($MN)
118 Middle East & Africa Distribution Transformer Market Outlook, By 501 kVA–2,500 kVA (2021-2030) ($MN)
119 Middle East & Africa Distribution Transformer Market Outlook, By 2,501 kVA–10,000 kVA (2021-2030) ($MN)
120 Middle East & Africa Distribution Transformer Market Outlook, By Above 10,000 kVA (2021-2030) ($MN)
121 Middle East & Africa Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
122 Middle East & Africa Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
123 Middle East & Africa Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
124 Middle East & Africa Distribution Transformer Market Outlook, By Power Utilities (2021-2030) ($MN)
125 Middle East & Africa Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
126 Middle East & Africa Distribution Transformer Market Outlook, By Other End Users (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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