Enhanced Geothermal System Market
Enhanced Geothermal System Market Forecasts to 2030 - Global Analysis By Resource Type (Sedimentary Basin, Hot Dry Rock, Radiogenic, Molten Magma and Other Resource Types), Depth (Deep and Shallow), Simulation Method, End User,and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $2.1 BN |
|
Projected Year Value (2030) |
US $3.4 BN |
|
CAGR (2023 - 2030) |
7.2% |
|
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 |
Europe |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Enhanced Geothermal System Market is accounted for $2.1 billion in 2023 and is expected to reach $3.4 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Enhanced Geothermal System (EGS) is a technology that enhances traditional geothermal power generation by creating artificial reservoirs in hot rock formations deep beneath the Earth's surface. It involves injecting water into existing fractures to create a network of interconnected channels, increasing permeability. In addition, EGS expands the potential of geothermal energy to regions lacking natural reservoirs, making it a promising, sustainable, and reliable source of clean power with reduced environmental impact compared to traditional fossil fuels.
According to the GeoVision report, the U.S. has the potential for 17,500 Geothermal District Heating (GDH) systems to operate by 2050.
Market Dynamics:
Driver:
Increasing consumer awareness
Consumers are increasingly informed about the environmental impact of traditional refrigeration methods, including the harmful effects of certain refrigerants on the ozone layer and their contribution to global warming. Characteristics such as the use of low-GWP materials and improved energy efficiency align with this growing demand for eco-friendly solutions. Furthermore, awareness campaigns, educational initiatives, and transparent communication have thereby propelled this market.
Restraint:
High initial costs
The need for extensive drilling and well stimulation operations is one of the primary reasons for the high initial costs of EGS. The process involves drilling deep into the earth's crust, which requires specialized equipment, skilled labor, and substantial investment, contributing to the overall expenses. Furthermore, this uncertainty discourages potential investors who may be hesitant to fund projects with unpredictable outcomes, thereby significantly hindering this market.
Opportunity:
Technological advancements
EGS involves harnessing geothermal energy from deep within the Earth's crust, where traditional geothermal resources are limited. Developments in drilling technologies, like hydraulic fracturing and directed drilling, have made it possible to reach hotter and deeper rock formations, increasing the geographic reach of feasible geothermal projects. Moreover, these technological innovations have addressed historical challenges associated with EGS, which is driving this market.
Threat:
Lack of standardization
The absence of standardized practices and technologies creates barriers to entry for new players and potential investors who may be hesitant to participate in a market where there are no established benchmarks or best practices. The absence of standardization makes it difficult to compare and assess the performance of different EGS projects. Furthermore, the absence of standardization hampers collaboration and knowledge sharing among stakeholders in this market.
Covid-19 Impact
The COVID-19 pandemic has adversely affected the Enhanced Geothermal System (EGS) market, introducing several challenges that impede its growth. Lockdowns, supply chain disruptions, and economic uncertainties have limited project development and financing. Furthermore, the focus on immediate health and economic concerns has shifted attention away from renewable energy projects, with governments and industries prioritizing short-term recovery over long-term sustainable initiatives that have hampered market growth.
The radiogenic segment is expected to be the largest during the forecast period
The radiogenic segment is estimated to hold the largest share because it broadens the geographical scope of geothermal energy, making it applicable in regions with higher radiogenic heat sources. These formations contain radioactive elements such as uranium, thorium, and potassium, which decay and release heat over time. Furthermore, it reflects a strategic approach to harnessing Earth's natural heat reservoirs and propelling the reach of EGS technology to areas with specific geological characteristics conducive to radiogenic heat production.
The hydraulic segment is expected to have the highest CAGR during the forecast period
The hydraulic segment is anticipated to have highest CAGR during the forecast period. Hydraulic stimulation involves injecting water into deep rock formations to enhance permeability and create fractures. It is crucial to EGS development as it focuses on optimizing the efficiency of heat transfer within the geothermal reservoir. Moreover, this approach enhances the overall viability and scalability of geothermal energy production, which is boosting this segment’s growth.
Region with largest share:
Europe commanded the largest market share during the extrapolated period. Due to a focus on sustainable development and combating climate change, these countries are increasingly investing in geothermal technologies, including EGS, to harness the Earth's heat for clean and renewable energy. Several European nations, such as Italy and Germany, are at the forefront of EGS exploration and implementation. In addition to its commitment to the Energiewende (energy transition), it is also exploring advanced geothermal technologies to contribute to its renewable energy goals.
Region with highest CAGR:
Asia Pacific is expected to witness highest CAGR over the projection period, owing to its diverse geological landscape and increasing energy demand. This region is home to some of the major players, such as Calpine Corporation, AltaRock Energy Inc., and Ormat Technologies, Inc. Moreover, initiatives aimed at reducing carbon emissions and promoting sustainable energy sources further drive the adoption of EGS technologies.
Key players in the market
Some of the key players in the Enhanced Geothermal System Market include Enel SpA, Aboitiz Power Corporation, Mitsubishi Heavy Industries Ltd, AltaRock Energy, Inc., Energy Development Corporation, Schlumberger, Quaise Energy, Toshiba Corporation, Ormat Technologies, Royal Dutch Shell Plc, Kenya Electricity Generating Company Limited, Greenfire Energy, Geodynamics Limited, Siemens AG and Calpine Corporation.
Key Developments:
In January 2024, Mitsubishi Heavy Industries is launching new television commercials promoting its lineups of air-conditioners for the Japanese market. As with its previous ads, the new commercials will be broadcast in two versions: one for its lineup of ""kashikoi"" (smart) residential air-conditioners and the other for its ""kigakiku"" (attentive) commercial air-conditioners.
In October 2023, Microsoft and Siemens are deepening their partnership by bringing the benefits of generative AI to industries worldwide.
Resource Types Covered:
• Sedimentary Basin
• Hot Dry Rock
• Radiogenic
• Molten Magma
• Other Resource Types
Depths Covered:
• Deep
• Shallow
Simulation Methods Covered:
• Hydraulic
• Thermal
• Chemical
• Other Stimulation Methods
End Users Covered:
• Commercial
• 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 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 Enhanced Geothermal System Market, By Resource Type
5.1 Introduction
5.2 Sedimentary Basin
5.3 Hot Dry Rock
5.4 Radiogenic
5.5 Molten Magma
5.6 Other Resource Types
6 Global Enhanced Geothermal System Market, By Depth
6.1 Introduction
6.2 Deep
6.3 Shallow
7 Global Enhanced Geothermal System Market, By Simulation Method
7.1 Introduction
7.2 Hydraulic
7.3 Thermal
7.4 Chemical
7.5 Other Stimulation Methods
8 Global Enhanced Geothermal System Market, By End User
8.1 Introduction
8.2 Commercial
8.3 Residential
8.4 Other End Users
9 Global Enhanced Geothermal System 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 Enel SpA
11.2 Aboitiz Power Corporation
11.3 Mitsubishi Heavy Industries Ltd
11.4 AltaRock Energy, Inc.
11.5 Energy Development Corporation
11.6 Schlumberger
11.7 Quaise Energy
11.8 Toshiba Corporation
11.9 Ormat Technologies
11.10 Royal Dutch Shell Plc
11.11 Kenya Electricity Generating Company Limited
11.12 Greenfire Energy
11.13 Geodynamics Limited
11.14 Siemens AG
11.15 Calpine Corporation
List of Tables
1 Global Enhanced Geothermal System Market Outlook, By Region (2021-2030) ($MN)
2 Global Enhanced Geothermal System Market Outlook, By Resource Type (2021-2030) ($MN)
3 Global Enhanced Geothermal System Market Outlook, By Sedimentary Basin (2021-2030) ($MN)
4 Global Enhanced Geothermal System Market Outlook, By Hot Dry Rock (2021-2030) ($MN)
5 Global Enhanced Geothermal System Market Outlook, By Radiogenic (2021-2030) ($MN)
6 Global Enhanced Geothermal System Market Outlook, By Molten Magma (2021-2030) ($MN)
7 Global Enhanced Geothermal System Market Outlook, By Other Resource Types (2021-2030) ($MN)
8 Global Enhanced Geothermal System Market Outlook, By Depth (2021-2030) ($MN)
9 Global Enhanced Geothermal System Market Outlook, By Deep (2021-2030) ($MN)
10 Global Enhanced Geothermal System Market Outlook, By Shallow (2021-2030) ($MN)
11 Global Enhanced Geothermal System Market Outlook, By Simulation Method (2021-2030) ($MN)
12 Global Enhanced Geothermal System Market Outlook, By Hydraulic (2021-2030) ($MN)
13 Global Enhanced Geothermal System Market Outlook, By Thermal (2021-2030) ($MN)
14 Global Enhanced Geothermal System Market Outlook, By Chemical (2021-2030) ($MN)
15 Global Enhanced Geothermal System Market Outlook, By Other Stimulation Methods (2021-2030) ($MN)
16 Global Enhanced Geothermal System Market Outlook, By End User (2021-2030) ($MN)
17 Global Enhanced Geothermal System Market Outlook, By Commercial (2021-2030) ($MN)
18 Global Enhanced Geothermal System Market Outlook, By Residential (2021-2030) ($MN)
19 Global Enhanced Geothermal System Market Outlook, By Other End Users (2021-2030) ($MN)
20 North America Enhanced Geothermal System Market Outlook, By Country (2021-2030) ($MN)
21 North America Enhanced Geothermal System Market Outlook, By Resource Type (2021-2030) ($MN)
22 North America Enhanced Geothermal System Market Outlook, By Sedimentary Basin (2021-2030) ($MN)
23 North America Enhanced Geothermal System Market Outlook, By Hot Dry Rock (2021-2030) ($MN)
24 North America Enhanced Geothermal System Market Outlook, By Radiogenic (2021-2030) ($MN)
25 North America Enhanced Geothermal System Market Outlook, By Molten Magma (2021-2030) ($MN)
26 North America Enhanced Geothermal System Market Outlook, By Other Resource Types (2021-2030) ($MN)
27 North America Enhanced Geothermal System Market Outlook, By Depth (2021-2030) ($MN)
28 North America Enhanced Geothermal System Market Outlook, By Deep (2021-2030) ($MN)
29 North America Enhanced Geothermal System Market Outlook, By Shallow (2021-2030) ($MN)
30 North America Enhanced Geothermal System Market Outlook, By Simulation Method (2021-2030) ($MN)
31 North America Enhanced Geothermal System Market Outlook, By Hydraulic (2021-2030) ($MN)
32 North America Enhanced Geothermal System Market Outlook, By Thermal (2021-2030) ($MN)
33 North America Enhanced Geothermal System Market Outlook, By Chemical (2021-2030) ($MN)
34 North America Enhanced Geothermal System Market Outlook, By Other Stimulation Methods (2021-2030) ($MN)
35 North America Enhanced Geothermal System Market Outlook, By End User (2021-2030) ($MN)
36 North America Enhanced Geothermal System Market Outlook, By Commercial (2021-2030) ($MN)
37 North America Enhanced Geothermal System Market Outlook, By Residential (2021-2030) ($MN)
38 North America Enhanced Geothermal System Market Outlook, By Other End Users (2021-2030) ($MN)
39 Europe Enhanced Geothermal System Market Outlook, By Country (2021-2030) ($MN)
40 Europe Enhanced Geothermal System Market Outlook, By Resource Type (2021-2030) ($MN)
41 Europe Enhanced Geothermal System Market Outlook, By Sedimentary Basin (2021-2030) ($MN)
42 Europe Enhanced Geothermal System Market Outlook, By Hot Dry Rock (2021-2030) ($MN)
43 Europe Enhanced Geothermal System Market Outlook, By Radiogenic (2021-2030) ($MN)
44 Europe Enhanced Geothermal System Market Outlook, By Molten Magma (2021-2030) ($MN)
45 Europe Enhanced Geothermal System Market Outlook, By Other Resource Types (2021-2030) ($MN)
46 Europe Enhanced Geothermal System Market Outlook, By Depth (2021-2030) ($MN)
47 Europe Enhanced Geothermal System Market Outlook, By Deep (2021-2030) ($MN)
48 Europe Enhanced Geothermal System Market Outlook, By Shallow (2021-2030) ($MN)
49 Europe Enhanced Geothermal System Market Outlook, By Simulation Method (2021-2030) ($MN)
50 Europe Enhanced Geothermal System Market Outlook, By Hydraulic (2021-2030) ($MN)
51 Europe Enhanced Geothermal System Market Outlook, By Thermal (2021-2030) ($MN)
52 Europe Enhanced Geothermal System Market Outlook, By Chemical (2021-2030) ($MN)
53 Europe Enhanced Geothermal System Market Outlook, By Other Stimulation Methods (2021-2030) ($MN)
54 Europe Enhanced Geothermal System Market Outlook, By End User (2021-2030) ($MN)
55 Europe Enhanced Geothermal System Market Outlook, By Commercial (2021-2030) ($MN)
56 Europe Enhanced Geothermal System Market Outlook, By Residential (2021-2030) ($MN)
57 Europe Enhanced Geothermal System Market Outlook, By Other End Users (2021-2030) ($MN)
58 Asia Pacific Enhanced Geothermal System Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Enhanced Geothermal System Market Outlook, By Resource Type (2021-2030) ($MN)
60 Asia Pacific Enhanced Geothermal System Market Outlook, By Sedimentary Basin (2021-2030) ($MN)
61 Asia Pacific Enhanced Geothermal System Market Outlook, By Hot Dry Rock (2021-2030) ($MN)
62 Asia Pacific Enhanced Geothermal System Market Outlook, By Radiogenic (2021-2030) ($MN)
63 Asia Pacific Enhanced Geothermal System Market Outlook, By Molten Magma (2021-2030) ($MN)
64 Asia Pacific Enhanced Geothermal System Market Outlook, By Other Resource Types (2021-2030) ($MN)
65 Asia Pacific Enhanced Geothermal System Market Outlook, By Depth (2021-2030) ($MN)
66 Asia Pacific Enhanced Geothermal System Market Outlook, By Deep (2021-2030) ($MN)
67 Asia Pacific Enhanced Geothermal System Market Outlook, By Shallow (2021-2030) ($MN)
68 Asia Pacific Enhanced Geothermal System Market Outlook, By Simulation Method (2021-2030) ($MN)
69 Asia Pacific Enhanced Geothermal System Market Outlook, By Hydraulic (2021-2030) ($MN)
70 Asia Pacific Enhanced Geothermal System Market Outlook, By Thermal (2021-2030) ($MN)
71 Asia Pacific Enhanced Geothermal System Market Outlook, By Chemical (2021-2030) ($MN)
72 Asia Pacific Enhanced Geothermal System Market Outlook, By Other Stimulation Methods (2021-2030) ($MN)
73 Asia Pacific Enhanced Geothermal System Market Outlook, By End User (2021-2030) ($MN)
74 Asia Pacific Enhanced Geothermal System Market Outlook, By Commercial (2021-2030) ($MN)
75 Asia Pacific Enhanced Geothermal System Market Outlook, By Residential (2021-2030) ($MN)
76 Asia Pacific Enhanced Geothermal System Market Outlook, By Other End Users (2021-2030) ($MN)
77 South America Enhanced Geothermal System Market Outlook, By Country (2021-2030) ($MN)
78 South America Enhanced Geothermal System Market Outlook, By Resource Type (2021-2030) ($MN)
79 South America Enhanced Geothermal System Market Outlook, By Sedimentary Basin (2021-2030) ($MN)
80 South America Enhanced Geothermal System Market Outlook, By Hot Dry Rock (2021-2030) ($MN)
81 South America Enhanced Geothermal System Market Outlook, By Radiogenic (2021-2030) ($MN)
82 South America Enhanced Geothermal System Market Outlook, By Molten Magma (2021-2030) ($MN)
83 South America Enhanced Geothermal System Market Outlook, By Other Resource Types (2021-2030) ($MN)
84 South America Enhanced Geothermal System Market Outlook, By Depth (2021-2030) ($MN)
85 South America Enhanced Geothermal System Market Outlook, By Deep (2021-2030) ($MN)
86 South America Enhanced Geothermal System Market Outlook, By Shallow (2021-2030) ($MN)
87 South America Enhanced Geothermal System Market Outlook, By Simulation Method (2021-2030) ($MN)
88 South America Enhanced Geothermal System Market Outlook, By Hydraulic (2021-2030) ($MN)
89 South America Enhanced Geothermal System Market Outlook, By Thermal (2021-2030) ($MN)
90 South America Enhanced Geothermal System Market Outlook, By Chemical (2021-2030) ($MN)
91 South America Enhanced Geothermal System Market Outlook, By Other Stimulation Methods (2021-2030) ($MN)
92 South America Enhanced Geothermal System Market Outlook, By End User (2021-2030) ($MN)
93 South America Enhanced Geothermal System Market Outlook, By Commercial (2021-2030) ($MN)
94 South America Enhanced Geothermal System Market Outlook, By Residential (2021-2030) ($MN)
95 South America Enhanced Geothermal System Market Outlook, By Other End Users (2021-2030) ($MN)
96 Middle East & Africa Enhanced Geothermal System Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Enhanced Geothermal System Market Outlook, By Resource Type (2021-2030) ($MN)
98 Middle East & Africa Enhanced Geothermal System Market Outlook, By Sedimentary Basin (2021-2030) ($MN)
99 Middle East & Africa Enhanced Geothermal System Market Outlook, By Hot Dry Rock (2021-2030) ($MN)
100 Middle East & Africa Enhanced Geothermal System Market Outlook, By Radiogenic (2021-2030) ($MN)
101 Middle East & Africa Enhanced Geothermal System Market Outlook, By Molten Magma (2021-2030) ($MN)
102 Middle East & Africa Enhanced Geothermal System Market Outlook, By Other Resource Types (2021-2030) ($MN)
103 Middle East & Africa Enhanced Geothermal System Market Outlook, By Depth (2021-2030) ($MN)
104 Middle East & Africa Enhanced Geothermal System Market Outlook, By Deep (2021-2030) ($MN)
105 Middle East & Africa Enhanced Geothermal System Market Outlook, By Shallow (2021-2030) ($MN)
106 Middle East & Africa Enhanced Geothermal System Market Outlook, By Simulation Method (2021-2030) ($MN)
107 Middle East & Africa Enhanced Geothermal System Market Outlook, By Hydraulic (2021-2030) ($MN)
108 Middle East & Africa Enhanced Geothermal System Market Outlook, By Thermal (2021-2030) ($MN)
109 Middle East & Africa Enhanced Geothermal System Market Outlook, By Chemical (2021-2030) ($MN)
110 Middle East & Africa Enhanced Geothermal System Market Outlook, By Other Stimulation Methods (2021-2030) ($MN)
111 Middle East & Africa Enhanced Geothermal System Market Outlook, By End User (2021-2030) ($MN)
112 Middle East & Africa Enhanced Geothermal System Market Outlook, By Commercial (2021-2030) ($MN)
113 Middle East & Africa Enhanced Geothermal System Market Outlook, By Residential (2021-2030) ($MN)
114 Middle East & Africa Enhanced Geothermal System 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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