Explosion Proof Equipment Market
Explosion Proof Equipment - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Explosion Proof Equipment Market is accounted for $7.09 billion in 2019 and is expected to reach $12.55 billion by 2027 growing at a CAGR of 7.4% during the forecast period. While the factors like increased oil, investments in emerging markets, are some of the major driving the growth of the market growth. However, the lack of standardization is hampering the market growth.
Explosion-proof equipment refers to commodities that limit any source of explosion within its housings. This equipment relies on different principles of protection, such as explosion avoidance, and explosion isolation. While explosion-proof equipment utilizes a strong, protective housing, to contain any explosion within itself, explosion segregation equipment isolates the source of an explosion inside a protective medium.
Based on the end user, the oil & gas segment is estimated to have a lucrative growth due to the extensive adoption of explosion-protected products in this sector as a preventive measure against explosive areas. The adoption of spark-resistant enclosures, thermocouples, and sensors in dangerous areas of oil & gas industry eliminate the release of potentially toxic and flammable substances.
By geography, the Asia Pacific is estimated to have a lucrative growth in the forecast period. The region experiences a balanced situation of the oil & gas industry and it would sustain as a politically stable region globally with China, Indonesia, Australia, and India. These countries have the biggest CAPEX hotspots and which continue to supply stable political environments.
Some of the key players profiled in the Explosion Proof Equipment Market include G.M. International SRL, Extronics Limited, Marechal Electric Group, RAE Systems (Honeywell), Pepperl+Fuchs GmbH, Intertek Group PLC, Adalet Inc., Bartec GmbH, Alloy Industry Co. Ltd, Cordex Instruments Ltd, R. STAHL AG, Siemens AG, Rockwell Automation, Inc., ABB Group and Honeywell International Inc.
Groups Covered:
• Group C: Petrochemicals
• Group D: Petrochemicals (Includes Methane)
• Group A: Acetylene
• Group B: Hydrogen and Manufactured Gases Containing Hydrogen
Protection Principles Covered:
• Explosion Prevention/Limiting Energy
• Explosion Proof/Explosion Containment
• Explosion Segregation (Isolation)
• Encapsulations
• Explosion-proof Lamp
Flammable Substances Covered:
• Class I (Gas and Vapor)
• Class II (Combustible Dust)
• Class III (Fibers and Flying’s)
Explosion Protections Covered:
• Dust Explosion Protection
• 1D (Zone 20, 21 and 22)
• 2D (Zones 21 and 22)
• 3D (Zone 2)
• Gas Explosion Protection
• 1Gas (Zones 0, 1 and 2)
• 2Gas (Zones 1 and 2)
• 3Gas (Zone 2)
Zones Covered:
• Zone 0
• Zone 20
• Zone 1
• Zone 21
• Zone 2
• Zone 22
• Zone 12
• Zone 212
Temperature Classes Covered:
• T1 (450°C or 842°F)
• T2 (300°C or 572°F)
• T3 (200°C or 3142°F)
• T4 (135°C or 275°F)
• T5 (100°C or 212°F)
• T6 (85°C or 185°F)
Products Covered:
• Industrial Controls
• Process Instruments
• Strobe Beacons
• Sensors
• Bells & Horns
• Fire Alarms/Call Points
• Visual & Audible Combination Units
• Speakers & Tone Generators
• Cable Glands & Accessories
• Motors
Connectivity Services Covered:
• Wired
• Wireless
Applications Covered:
• Junction Boxes & Enclosures
• Lifting Systems
• Lighting Systems
• Material Handling Systems
• Panel Boards & Motor Starters
• Switches & Sockets
• Surveillance & Monitoring Systems
• Signaling Systems
• Switchgear
• Heating, Ventilation, and Air Conditioning (HVAC)
• Distribution Systems
• Automation System
• Power Supply System
• Other Applications
End Users Covered:
• Aerospace & Aircraft
• Construction
• Manufacturing
• Mining
• Oil & Gas
• Marine Industry
• Waste Management
• Pharmaceutical
• Power and Utility
• Food Processing & Beverages
• Automotive
• Energy
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 2018, 2019, 2020, 2024 and 2027
- 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
o 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 End User Analysis
3.9 Emerging Markets
3.10 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 Explosion Proof Equipment Market, By Group
5.1 Introduction
5.2 Group C: Petrochemicals
5.3 Group D: Petrochemicals (Includes Methane)
5.4 Group A: Acetylene
5.5 Group B: Hydrogen and Manufactured Gases Containing Hydrogen
6 Global Explosion Proof Equipment Market, By Protection Principle
6.1 Introduction
6.2 Explosion Prevention/Limiting Energy
6.2.1 Pressurized Enclosures
6.2.2 Purging Enclosure
6.2.3 Restricted Breathing
6.2.4 Hermetical Sealing
6.2.5 Intrinsic Safe Devices
6.2.6 Non-Incendive Devices
6.2.7 Non-Sparking Devices
6.3 Explosion Proof/Explosion Containment
6.3.1 Conduit & Cable Seals
6.3.2 Ingress Enclosures
6.3.3 Flameproof Enclosures
6.4 Explosion Segregation (Isolation)
6.4.1 Oil/Liquid Immersion
6.4.2 Powder/Sand Filling
6.5 Encapsulations
6.6 Explosion-proof Lamp
7 Global Explosion Proof Equipment Market, By Flammable Substance
7.1 Introduction
7.2 Class I (Gas and Vapor)
7.2.1 Division 1
7.2.2 Division 2
7.3 Class II (Combustible Dust)
7.4 Class III (Fibers and Flying’s)
8 Global Explosion Proof Equipment Market, By Explosion Protection
8.1 Introduction
8.2 Dust Explosion Protection
8.3 1D (Zone 20, 21 and 22)
8.4 2D (Zones 21 and 22)
8.5 3D (Zone 2)
8.6 Gas Explosion Protection
8.7 1Gas (Zones 0, 1 and 2)
8.8 2Gas (Zones 1 and 2)
8.9 3Gas (Zone 2)
9 Global Explosion Proof Equipment Market, By Zone
9.1 Introduction
9.2 Zone 0
9.3 Zone 20
9.4 Zone 1
9.5 Zone 21
9.6 Zone 2
9.7 Zone 22
9.8 Zone 12
9.9 Zone 212
10 Global Explosion Proof Equipment Market, By Temperature Class
10.1 Introduction
10.2 T1 (450°C or 842°F)
10.3 T2 (300°C or 572°F)
10.4 T3 (200°C or 3142°F)
10.5 T4 (135°C or 275°F)
10.6 T5 (100°C or 212°F)
10.7 T6 (85°C or 185°F)
11 Global Explosion Proof Equipment Market, By Product
11.1 Introduction
11.2 Industrial Controls
11.3 Process Instruments
11.4 Strobe Beacons
11.5 Sensors
11.6 Bells & Horns
11.7 Fire Alarms/Call Points
11.8 Visual & Audible Combination Units
11.9 Speakers & Tone Generators
11.10 Cable Glands & Accessories
11.11 Motors
12 Global Explosion Proof Equipment Market, By Connectivity Service
12.1 Introduction
12.2 Wired
12.3 Wireless
13 Global Explosion Proof Equipment Market, By Application
13.1 Introduction
13.2 Junction Boxes & Enclosures
13.3 Lifting Systems
13.4 Lighting Systems
13.5 Material Handling Systems
13.6 Panel Boards & Motor Starters
13.7 Switches & Sockets
13.8 Surveillance & Monitoring Systems
13.9 Signaling Systems
13.10 Switchgear
13.11 Heating, Ventilation, and Air Conditioning (HVAC)
13.12 Distribution Systems
13.13 Automation System
13.14 Power Supply System
13.15 Other Applications
13.15.1 Unions
13.15.2 Flexible Couplings
14 Global Explosion Proof Equipment Market, By End User
14.1 Introduction
14.2 Aerospace & Aircraft
14.3 Construction
14.4 Manufacturing
14.4.1 Paint
14.4.2 Textiles
14.4.3 Chemicals
14.4.4 Explosives
14.5 Mining
14.6 Oil & Gas
14.6.1 Downstream
14.6.2 Upstream
14.6.3 Midstream
14.7 Marine Industry
14.7.1 Ship Yards
14.7.2 Marine Ports
14.8 Waste Management
14.9 Pharmaceutical
14.10 Power and Utility
14.11 Food Processing & Beverages
14.12 Automotive
14.13 Energy
15 Global Explosion Proof Equipment Market, By Geography
15.1 Introduction
15.2 North America
15.2.1 US
15.2.2 Canada
15.2.3 Mexico
15.3 Europe
15.3.1 Germany
15.3.2 UK
15.3.3 Italy
15.3.4 France
15.3.5 Spain
15.3.6 Rest of Europe
15.4 Asia Pacific
15.4.1 Japan
15.4.2 China
15.4.3 India
15.4.4 Australia
15.4.5 New Zealand
15.4.6 South Korea
15.4.7 Rest of Asia Pacific
15.5 South America
15.5.1 Argentina
15.5.2 Brazil
15.5.3 Chile
15.5.4 Rest of South America
15.6 Middle East & Africa
15.6.1 Saudi Arabia
15.6.2 UAE
15.6.3 Qatar
15.6.4 South Africa
15.6.5 Rest of Middle East & Africa
16 Key Developments
16.1 Agreements, Partnerships, Collaborations and Joint Ventures
16.2 Acquisitions & Mergers
16.3 New Product Launch
16.4 Expansions
16.5 Other Key Strategies
17 Company Profiling
17.1 G.M. International SRL
17.2 Extronics Limited
17.3 Marechal Electric Group
17.4 RAE Systems (Honeywell)
17.5 Pepperl+Fuchs GmbH
17.6 Intertek Group PLC
17.7 Adalet Inc.
17.8 Bartec GmbH
17.9 Alloy Industry Co. Ltd
17.10 Cordex Instruments Ltd
17.11 R. STAHL AG
17.12 Siemens AG
17.13 Rockwell Automation, Inc.
17.14 ABB Group
17.15 Honeywell International Inc.
List of Tables
1 Global Explosion Proof Equipment Market Outlook, By Region (2018-2027) ($MN)
2 Global Explosion Proof Equipment Market Outlook, By Group (2018-2027) ($MN)
3 Global Explosion Proof Equipment Market Outlook, By Group C: Petrochemicals (2018-2027) ($MN)
4 Global Explosion Proof Equipment Market Outlook, By Group D: Petrochemicals (Includes Methane) (2018-2027) ($MN)
5 Global Explosion Proof Equipment Market Outlook, By Group A: Acetylene (2018-2027) ($MN)
6 Global Explosion Proof Equipment Market Outlook, By Group B: Hydrogen and Manufactured Gases Containing Hydrogen (2018-2027) ($MN)
7 Global Explosion Proof Equipment Market Outlook, By Protection Principle (2018-2027) ($MN)
8 Global Explosion Proof Equipment Market Outlook, By Explosion Prevention/Limiting Energy (2018-2027) ($MN)
9 Global Explosion Proof Equipment Market Outlook, By Pressurized Enclosures (2018-2027) ($MN)
10 Global Explosion Proof Equipment Market Outlook, By Purging Enclosure (2018-2027) ($MN)
11 Global Explosion Proof Equipment Market Outlook, By Restricted Breathing (2018-2027) ($MN)
12 Global Explosion Proof Equipment Market Outlook, By Hermetical Sealing (2018-2027) ($MN)
13 Global Explosion Proof Equipment Market Outlook, By Intrinsic Safe Devices (2018-2027) ($MN)
14 Global Explosion Proof Equipment Market Outlook, By Non-Incendive Devices (2018-2027) ($MN)
15 Global Explosion Proof Equipment Market Outlook, By Non-Sparking Devices (2018-2027) ($MN)
16 Global Explosion Proof Equipment Market Outlook, By Explosion Proof/Explosion Containment (2018-2027) ($MN)
17 Global Explosion Proof Equipment Market Outlook, By Conduit & Cable Seals (2018-2027) ($MN)
18 Global Explosion Proof Equipment Market Outlook, By Ingress Enclosures (2018-2027) ($MN)
19 Global Explosion Proof Equipment Market Outlook, By Flameproof Enclosures (2018-2027) ($MN)
20 Global Explosion Proof Equipment Market Outlook, By Explosion Segregation (Isolation) (2018-2027) ($MN)
21 Global Explosion Proof Equipment Market Outlook, By Oil/Liquid Immersion (2018-2027) ($MN)
22 Global Explosion Proof Equipment Market Outlook, By Powder/Sand Filling (2018-2027) ($MN)
23 Global Explosion Proof Equipment Market Outlook, By Encapsulations (2018-2027) ($MN)
24 Global Explosion Proof Equipment Market Outlook, By Explosion-proof Lamp (2018-2027) ($MN)
25 Global Explosion Proof Equipment Market Outlook, By Flammable Substance (2018-2027) ($MN)
26 Global Explosion Proof Equipment Market Outlook, By Class I (Gas and Vapor) (2018-2027) ($MN)
27 Global Explosion Proof Equipment Market Outlook, By Division 1 (2018-2027) ($MN)
28 Global Explosion Proof Equipment Market Outlook, By Division 2 (2018-2027) ($MN)
29 Global Explosion Proof Equipment Market Outlook, By Class II (Combustible Dust) (2018-2027) ($MN)
30 Global Explosion Proof Equipment Market Outlook, By Class III (Fibers and Flying’s) (2018-2027) ($MN)
31 Global Explosion Proof Equipment Market Outlook, By Explosion Protection (2018-2027) ($MN)
32 Global Explosion Proof Equipment Market Outlook, By Dust Explosion Protection (2018-2027) ($MN)
33 Global Explosion Proof Equipment Market Outlook, By 1D (Zone 20, 21 and 22) (2018-2027) ($MN)
34 Global Explosion Proof Equipment Market Outlook, By 2D (Zones 21 and 22) (2018-2027) ($MN)
35 Global Explosion Proof Equipment Market Outlook, By 3D (Zone 2) (2018-2027) ($MN)
36 Global Explosion Proof Equipment Market Outlook, By Gas Explosion Protection (2018-2027) ($MN)
37 Global Explosion Proof Equipment Market Outlook, By 1Gas (Zones 0, 1 and 2) (2018-2027) ($MN)
38 Global Explosion Proof Equipment Market Outlook, By 2Gas (Zones 1 and 2) (2018-2027) ($MN)
39 Global Explosion Proof Equipment Market Outlook, By 3Gas (Zone 2) (2018-2027) ($MN)
40 Global Explosion Proof Equipment Market Outlook, By Zone (2018-2027) ($MN)
41 Global Explosion Proof Equipment Market Outlook, By Zone 0 (2018-2027) ($MN)
42 Global Explosion Proof Equipment Market Outlook, By Zone 20 (2018-2027) ($MN)
43 Global Explosion Proof Equipment Market Outlook, By Zone 1 (2018-2027) ($MN)
44 Global Explosion Proof Equipment Market Outlook, By Zone 21 (2018-2027) ($MN)
45 Global Explosion Proof Equipment Market Outlook, By Zone 2 (2018-2027) ($MN)
46 Global Explosion Proof Equipment Market Outlook, By Zone 22 (2018-2027) ($MN)
47 Global Explosion Proof Equipment Market Outlook, By Zone 12 (2018-2027) ($MN)
48 Global Explosion Proof Equipment Market Outlook, By Zone 212 (2018-2027) ($MN)
49 Global Explosion Proof Equipment Market Outlook, By Temperature Class (2018-2027) ($MN)
50 Global Explosion Proof Equipment Market Outlook, By T1 (450°C or 842°F) (2018-2027) ($MN)
51 Global Explosion Proof Equipment Market Outlook, By T2 (300°C or 572°F) (2018-2027) ($MN)
52 Global Explosion Proof Equipment Market Outlook, By T3 (200°C or 3142°F) (2018-2027) ($MN)
53 Global Explosion Proof Equipment Market Outlook, By T4 (135°C or 275°F) (2018-2027) ($MN)
54 Global Explosion Proof Equipment Market Outlook, By T5 (100°C or 212°F) (2018-2027) ($MN)
55 Global Explosion Proof Equipment Market Outlook, By T6 (85°C or 185°F) (2018-2027) ($MN)
56 Global Explosion Proof Equipment Market Outlook, By Product (2018-2027) ($MN)
57 Global Explosion Proof Equipment Market Outlook, By Industrial Controls (2018-2027) ($MN)
58 Global Explosion Proof Equipment Market Outlook, By Process Instruments (2018-2027) ($MN)
59 Global Explosion Proof Equipment Market Outlook, By Strobe Beacons (2018-2027) ($MN)
60 Global Explosion Proof Equipment Market Outlook, By Sensors (2018-2027) ($MN)
61 Global Explosion Proof Equipment Market Outlook, By Bells & Horns (2018-2027) ($MN)
62 Global Explosion Proof Equipment Market Outlook, By Fire Alarms/Call Points (2018-2027) ($MN)
63 Global Explosion Proof Equipment Market Outlook, By Visual & Audible Combination Units (2018-2027) ($MN)
64 Global Explosion Proof Equipment Market Outlook, By Speakers & Tone Generators (2018-2027) ($MN)
65 Global Explosion Proof Equipment Market Outlook, By Cable Glands & Accessories (2018-2027) ($MN)
66 Global Explosion Proof Equipment Market Outlook, By Motors (2018-2027) ($MN)
67 Global Explosion Proof Equipment Market Outlook, By Connectivity Service (2018-2027) ($MN)
68 Global Explosion Proof Equipment Market Outlook, By Wired (2018-2027) ($MN)
69 Global Explosion Proof Equipment Market Outlook, By Wireless (2018-2027) ($MN)
70 Global Explosion Proof Equipment Market Outlook, By Application (2018-2027) ($MN)
71 Global Explosion Proof Equipment Market Outlook, By Junction Boxes & Enclosures (2018-2027) ($MN)
72 Global Explosion Proof Equipment Market Outlook, By Lifting Systems (2018-2027) ($MN)
73 Global Explosion Proof Equipment Market Outlook, By Lighting Systems (2018-2027) ($MN)
74 Global Explosion Proof Equipment Market Outlook, By Material Handling Systems (2018-2027) ($MN)
75 Global Explosion Proof Equipment Market Outlook, By Panel Boards & Motor Starters (2018-2027) ($MN)
76 Global Explosion Proof Equipment Market Outlook, By Switches & Sockets (2018-2027) ($MN)
77 Global Explosion Proof Equipment Market Outlook, By Surveillance & Monitoring Systems (2018-2027) ($MN)
78 Global Explosion Proof Equipment Market Outlook, By Signaling Systems (2018-2027) ($MN)
79 Global Explosion Proof Equipment Market Outlook, By Switchgear (2018-2027) ($MN)
80 Global Explosion Proof Equipment Market Outlook, By Heating, Ventilation, and Air Conditioning (HVAC) (2018-2027) ($MN)
81 Global Explosion Proof Equipment Market Outlook, By Distribution Systems (2018-2027) ($MN)
82 Global Explosion Proof Equipment Market Outlook, By Automation System (2018-2027) ($MN)
83 Global Explosion Proof Equipment Market Outlook, By Power Supply System (2018-2027) ($MN)
84 Global Explosion Proof Equipment Market Outlook, By Other Applications (2018-2027) ($MN)
85 Global Explosion Proof Equipment Market Outlook, By Unions (2018-2027) ($MN)
86 Global Explosion Proof Equipment Market Outlook, By Flexible Couplings (2018-2027) ($MN)
87 Global Explosion Proof Equipment Market Outlook, By End User (2018-2027) ($MN)
88 Global Explosion Proof Equipment Market Outlook, By Aerospace & Aircraft (2018-2027) ($MN)
89 Global Explosion Proof Equipment Market Outlook, By Construction (2018-2027) ($MN)
90 Global Explosion Proof Equipment Market Outlook, By Manufacturing (2018-2027) ($MN)
91 Global Explosion Proof Equipment Market Outlook, By Paint (2018-2027) ($MN)
92 Global Explosion Proof Equipment Market Outlook, By Textiles (2018-2027) ($MN)
93 Global Explosion Proof Equipment Market Outlook, By Chemicals (2018-2027) ($MN)
94 Global Explosion Proof Equipment Market Outlook, By Explosives (2018-2027) ($MN)
95 Global Explosion Proof Equipment Market Outlook, By Mining (2018-2027) ($MN)
96 Global Explosion Proof Equipment Market Outlook, By Oil & Gas (2018-2027) ($MN)
97 Global Explosion Proof Equipment Market Outlook, By Downstream (2018-2027) ($MN)
98 Global Explosion Proof Equipment Market Outlook, By Upstream (2018-2027) ($MN)
99 Global Explosion Proof Equipment Market Outlook, By Midstream (2018-2027) ($MN)
100 Global Explosion Proof Equipment Market Outlook, By Marine Industry (2018-2027) ($MN)
101 Global Explosion Proof Equipment Market Outlook, By Ship Yards (2018-2027) ($MN)
102 Global Explosion Proof Equipment Market Outlook, By Marine Ports (2018-2027) ($MN)
103 Global Explosion Proof Equipment Market Outlook, By Waste Management (2018-2027) ($MN)
104 Global Explosion Proof Equipment Market Outlook, By Pharmaceutical (2018-2027) ($MN)
105 Global Explosion Proof Equipment Market Outlook, By Power and Utility (2018-2027) ($MN)
106 Global Explosion Proof Equipment Market Outlook, By Food Processing & Beverages (2018-2027) ($MN)
107 Global Explosion Proof Equipment Market Outlook, By Automotive (2018-2027) ($MN)
108 Global Explosion Proof Equipment Market Outlook, By Energy (2018-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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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