Industrial Auger Blades Market
Industrial Auger Blades Market Forecasts to 2030 - Global Analysis By Type (Custom Auger Blades, Specialty Auger Blades and Other Types), Material Composition (Tungsten Carbide Auger Blades, Stainless Steel Auger Blades and Carbon Steel Auger Blades), Diameter, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $2.36 BN |
|
Projected Year Value (2030) |
US $3.24 BN |
|
CAGR (2023 - 2030) |
8.1% |
|
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 |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Industrial Auger Blades Market is accounted for $2.36 billion in 2023 and is expected to reach $3.24 billion by 2030 growing at a CAGR of 8.1% during the forecast period. Industrial auger blades are crucial components in drilling and excavation machinery, designed for efficient material handling and ground penetration. Typically made from robust materials like high-grade steel, these blades feature a helical shape to effectively convey and transport various materials such as soil, rock, or grain. Their durable construction ensures longevity and reliable performance in demanding industrial applications.
According to the India Brand Equity Foundation, the Government of India allocated US$ 17.24 Bn for Continuous Flight Augers (CFA) to the National Highways Authority of India (NHAI) in its budget for 2022-23.
Market Dynamics:
Driver:
Growing construction & agriculture sectors
The construction industry's increasing demand for efficient and precise digging tools, coupled with the expanding agricultural activities globally, has propelled the need for advanced auger blades. These blades play a crucial role in drilling, excavation, and soil preparation, enhancing productivity and reducing manual labor. The growing emphasis on mechanization in both construction and agriculture has further accelerated the adoption of industrial auger blades, contributing significantly to the market's upward trajectory.
Restraint:
Environmental concerns
As industries increasingly face scrutiny for their environmental impact, the use and disposal of auger blades contribute to pollution and resource depletion. The manufacturing processes and materials involved in auger blade production may have adverse effects on ecosystems. Strict regulations and growing consumer demand for sustainable practices are driving industries to seek eco-friendly alternatives, impacting the market for traditional auger blades.
Opportunity:
Rising infrastructure development projects
As governments invest heavily in construction, road building, and mining ventures, the demand for robust and efficient auger blades is expected to soar. These blades play a critical role in drilling and excavation processes, enhancing efficiency and productivity. The expanding construction sector, coupled with the need for advanced equipment in infrastructure projects, creates a favourable market landscape for industrial auger blades. Therefore, the surge in infrastructure development projects worldwide presents a lucrative opportunity for the market.
Threat:
Volatility in raw material prices
Fluctuations in material costs can lead to unpredictable production expenses, impacting profit margins and pricing strategies. Manufacturers may face challenges in maintaining competitive pricing and stable supply chains. Mitigating this threat requires effective risk management strategies, such as long-term supplier partnerships, alternative material sourcing, and adapting pricing models to accommodate market fluctuations. Failure to address this issue may hinder the industry's growth and competitiveness in the face of uncertain raw material markets.
Covid-19 Impact
The covid-19 pandemic has significantly impacted the Industrial Auger Blades Market. Disruptions in the global supply chain, labor shortages, and economic uncertainties have led to a slowdown in manufacturing activities, affecting the demand for industrial auger blades. Reduced construction and infrastructure projects further contribute to the market's challenges. However, as economies recover and construction activities resume, the market is expected to gradually regain momentum, with a potential focus on technological advancements and innovations to enhance efficiency in the post-pandemic landscape.
The stainless steel auger blades segment is expected to be the largest during the forecast period
The stainless steel auger blades segment is estimated to have a lucrative growth, due to its durability and resistance. Crafted from high-quality stainless steel, these blades exhibit exceptional strength and longevity, making them ideal for challenging environments. Their precision design ensures efficient digging, drilling, or material extraction processes in various industries, including agriculture, construction, and mining. The stainless steel composition enhances performance, providing reliable cutting edges that withstand harsh conditions.
The construction segment is expected to have the highest CAGR during the forecast period
The construction segment is anticipated to witness the highest CAGR growth during the forecast period. Industrial auger blades play a crucial role in the construction sector, aiding in efficient drilling and excavation processes. These robust blades are integral components of auger attachments for machinery like excavators and skid steers. They enhance productivity by swiftly breaking through soil, rocks, and other materials, facilitating foundation digging, pile installation, and utility trenching. Their versatility makes them indispensable for construction projects, delivering speed, accuracy, and cost-effectiveness in various ground-engaging applications.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing industrialization and infrastructure development. The demand for auger blades, essential in various construction and drilling applications, is rising across countries like China, India, and Japan. Key factors driving market expansion include the booming construction sector, agricultural activities, and the need for efficient material handling in manufacturing. Additionally, as the Asia Pacific continues to be a focal point for economic growth, the industrial auger blades market is expected to experience sustained demand and innovation in the coming years.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the increasing demand in agriculture and construction sectors. Factors such as technological advancements, rising construction activities, and the expanding agricultural industry contribute to market expansion. The region is home for key players namely Kenco Engineering, Auger Fabrication Inc. and Flight Manufacturing Corporation. These players are focusing on product innovations and strategic partnerships to gain a competitive edge. The market is poised for further development as industries continue to adopt efficient auger systems for enhanced productivity in North America.
Key players in the market
Some of the key players profiled in the Industrial Auger Blades Market include Bobcat Company, Terex Corporation, Crary Industries, Inc, Kenco Engineering, Irwin Industrial Tools, Flight Manufacturing Corporation, Raptor Cutting Tools Inc, Cementex Products, Inc, Tysim Piling Equipment Co., Ltd, Auger Fabrication, Inc, Ideal Power Tools and General Equipment Company.
Key Developments:
In March 2023, Ideal launched a new line of auger bits that are specifically designed to cater to the needs of electricians. These auger bits possess modern features that make them more effective. They are simple to use, and provide a clean cut without splintering.
In November 2021, IRWIN®, the leader in hand tools and power tool accessories, launched the SPEEDBOR SUPREME™ self-feed and auger bits. The new line of SPEEDBOR SUPREME™ bits are engineered for high performance wood drilling and are designed to withstand repeated nail strikes.
Types Covered:
• Custom Auger Blades
• Specialty Auger Blades
• Other Types
Material Compositions Covered:
• Tungsten Carbide Auger Blades
• Stainless Steel Auger Blades
• Carbon Steel Auger Blades
Diameters Covered:
• Large Diameter Auger Blades
• Medium Diameter Auger Blades
• Small Diameter Auger Blades
End Users Covered:
• Water & Wastewater Treatment
• Oil & Gas
• Mining
• Agriculture
• Construction
• 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
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 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 Industrial Auger Blades Market, By Type
5.1 Introduction
5.2 Custom Auger Blades
5.3 Specialty Auger Blades
5.4 Other Types
6 Global Industrial Auger Blades Market, By Material Composition
6.1 Introduction
6.2 Tungsten Carbide Auger Blades
6.3 Stainless Steel Auger Blades
6.4 Carbon Steel Auger Blades
7 Global Industrial Auger Blades Market, By Diameter
7.1 Introduction
7.2 Large Diameter Auger Blades
7.3 Medium Diameter Auger Blades
7.4 Small Diameter Auger Blades
8 Global Industrial Auger Blades Market, By End User
8.1 Introduction
8.2 Water & Wastewater Treatment
8.3 Oil & Gas
8.4 Mining
8.5 Agriculture
8.6 Construction
8.7 Other End Users
9 Global Industrial Auger Blades 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 Drug Class Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Bobcat Company
11.2 Terex Corporation
11.3 Crary Industries, Inc
11.4 Kenco Engineering
11.5 Irwin Industrial Tools
11.6 Flight Manufacturing Corporation
11.7 Raptor Cutting Tools Inc
11.8 Cementex Products, Inc
11.9 Tysim Piling Equipment Co., Ltd
11.10 Auger Fabrication, Inc
11.11 Ideal Power Tools
11.12 General Equipment Company
List of Tables
1 Global Industrial Auger Blades Market Outlook, By Region (2021-2030) ($MN)
2 Global Industrial Auger Blades Market Outlook, By Type (2021-2030) ($MN)
3 Global Industrial Auger Blades Market Outlook, By Custom Auger Blades (2021-2030) ($MN)
4 Global Industrial Auger Blades Market Outlook, By Specialty Auger Blades (2021-2030) ($MN)
5 Global Industrial Auger Blades Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Industrial Auger Blades Market Outlook, By Material Composition (2021-2030) ($MN)
7 Global Industrial Auger Blades Market Outlook, By Tungsten Carbide Auger Blades (2021-2030) ($MN)
8 Global Industrial Auger Blades Market Outlook, By Stainless Steel Auger Blades (2021-2030) ($MN)
9 Global Industrial Auger Blades Market Outlook, By Carbon Steel Auger Blades (2021-2030) ($MN)
10 Global Industrial Auger Blades Market Outlook, By Diameter (2021-2030) ($MN)
11 Global Industrial Auger Blades Market Outlook, By Large Diameter Auger Blades (2021-2030) ($MN)
12 Global Industrial Auger Blades Market Outlook, By Medium Diameter Auger Blades (2021-2030) ($MN)
13 Global Industrial Auger Blades Market Outlook, By Small Diameter Auger Blades (2021-2030) ($MN)
14 Global Industrial Auger Blades Market Outlook, By End User (2021-2030) ($MN)
15 Global Industrial Auger Blades Market Outlook, By Water & Wastewater Treatment (2021-2030) ($MN)
16 Global Industrial Auger Blades Market Outlook, By Oil & Gas (2021-2030) ($MN)
17 Global Industrial Auger Blades Market Outlook, By Mining (2021-2030) ($MN)
18 Global Industrial Auger Blades Market Outlook, By Agriculture (2021-2030) ($MN)
19 Global Industrial Auger Blades Market Outlook, By Construction (2021-2030) ($MN)
20 Global Industrial Auger Blades Market Outlook, By Other End Users (2021-2030) ($MN)
21 North America Industrial Auger Blades Market Outlook, By Country (2021-2030) ($MN)
22 North America Industrial Auger Blades Market Outlook, By Type (2021-2030) ($MN)
23 North America Industrial Auger Blades Market Outlook, By Custom Auger Blades (2021-2030) ($MN)
24 North America Industrial Auger Blades Market Outlook, By Specialty Auger Blades (2021-2030) ($MN)
25 North America Industrial Auger Blades Market Outlook, By Other Types (2021-2030) ($MN)
26 North America Industrial Auger Blades Market Outlook, By Material Composition (2021-2030) ($MN)
27 North America Industrial Auger Blades Market Outlook, By Tungsten Carbide Auger Blades (2021-2030) ($MN)
28 North America Industrial Auger Blades Market Outlook, By Stainless Steel Auger Blades (2021-2030) ($MN)
29 North America Industrial Auger Blades Market Outlook, By Carbon Steel Auger Blades (2021-2030) ($MN)
30 North America Industrial Auger Blades Market Outlook, By Diameter (2021-2030) ($MN)
31 North America Industrial Auger Blades Market Outlook, By Large Diameter Auger Blades (2021-2030) ($MN)
32 North America Industrial Auger Blades Market Outlook, By Medium Diameter Auger Blades (2021-2030) ($MN)
33 North America Industrial Auger Blades Market Outlook, By Small Diameter Auger Blades (2021-2030) ($MN)
34 North America Industrial Auger Blades Market Outlook, By End User (2021-2030) ($MN)
35 North America Industrial Auger Blades Market Outlook, By Water & Wastewater Treatment (2021-2030) ($MN)
36 North America Industrial Auger Blades Market Outlook, By Oil & Gas (2021-2030) ($MN)
37 North America Industrial Auger Blades Market Outlook, By Mining (2021-2030) ($MN)
38 North America Industrial Auger Blades Market Outlook, By Agriculture (2021-2030) ($MN)
39 North America Industrial Auger Blades Market Outlook, By Construction (2021-2030) ($MN)
40 North America Industrial Auger Blades Market Outlook, By Other End Users (2021-2030) ($MN)
41 Europe Industrial Auger Blades Market Outlook, By Country (2021-2030) ($MN)
42 Europe Industrial Auger Blades Market Outlook, By Type (2021-2030) ($MN)
43 Europe Industrial Auger Blades Market Outlook, By Custom Auger Blades (2021-2030) ($MN)
44 Europe Industrial Auger Blades Market Outlook, By Specialty Auger Blades (2021-2030) ($MN)
45 Europe Industrial Auger Blades Market Outlook, By Other Types (2021-2030) ($MN)
46 Europe Industrial Auger Blades Market Outlook, By Material Composition (2021-2030) ($MN)
47 Europe Industrial Auger Blades Market Outlook, By Tungsten Carbide Auger Blades (2021-2030) ($MN)
48 Europe Industrial Auger Blades Market Outlook, By Stainless Steel Auger Blades (2021-2030) ($MN)
49 Europe Industrial Auger Blades Market Outlook, By Carbon Steel Auger Blades (2021-2030) ($MN)
50 Europe Industrial Auger Blades Market Outlook, By Diameter (2021-2030) ($MN)
51 Europe Industrial Auger Blades Market Outlook, By Large Diameter Auger Blades (2021-2030) ($MN)
52 Europe Industrial Auger Blades Market Outlook, By Medium Diameter Auger Blades (2021-2030) ($MN)
53 Europe Industrial Auger Blades Market Outlook, By Small Diameter Auger Blades (2021-2030) ($MN)
54 Europe Industrial Auger Blades Market Outlook, By End User (2021-2030) ($MN)
55 Europe Industrial Auger Blades Market Outlook, By Water & Wastewater Treatment (2021-2030) ($MN)
56 Europe Industrial Auger Blades Market Outlook, By Oil & Gas (2021-2030) ($MN)
57 Europe Industrial Auger Blades Market Outlook, By Mining (2021-2030) ($MN)
58 Europe Industrial Auger Blades Market Outlook, By Agriculture (2021-2030) ($MN)
59 Europe Industrial Auger Blades Market Outlook, By Construction (2021-2030) ($MN)
60 Europe Industrial Auger Blades Market Outlook, By Other End Users (2021-2030) ($MN)
61 Asia Pacific Industrial Auger Blades Market Outlook, By Country (2021-2030) ($MN)
62 Asia Pacific Industrial Auger Blades Market Outlook, By Type (2021-2030) ($MN)
63 Asia Pacific Industrial Auger Blades Market Outlook, By Custom Auger Blades (2021-2030) ($MN)
64 Asia Pacific Industrial Auger Blades Market Outlook, By Specialty Auger Blades (2021-2030) ($MN)
65 Asia Pacific Industrial Auger Blades Market Outlook, By Other Types (2021-2030) ($MN)
66 Asia Pacific Industrial Auger Blades Market Outlook, By Material Composition (2021-2030) ($MN)
67 Asia Pacific Industrial Auger Blades Market Outlook, By Tungsten Carbide Auger Blades (2021-2030) ($MN)
68 Asia Pacific Industrial Auger Blades Market Outlook, By Stainless Steel Auger Blades (2021-2030) ($MN)
69 Asia Pacific Industrial Auger Blades Market Outlook, By Carbon Steel Auger Blades (2021-2030) ($MN)
70 Asia Pacific Industrial Auger Blades Market Outlook, By Diameter (2021-2030) ($MN)
71 Asia Pacific Industrial Auger Blades Market Outlook, By Large Diameter Auger Blades (2021-2030) ($MN)
72 Asia Pacific Industrial Auger Blades Market Outlook, By Medium Diameter Auger Blades (2021-2030) ($MN)
73 Asia Pacific Industrial Auger Blades Market Outlook, By Small Diameter Auger Blades (2021-2030) ($MN)
74 Asia Pacific Industrial Auger Blades Market Outlook, By End User (2021-2030) ($MN)
75 Asia Pacific Industrial Auger Blades Market Outlook, By Water & Wastewater Treatment (2021-2030) ($MN)
76 Asia Pacific Industrial Auger Blades Market Outlook, By Oil & Gas (2021-2030) ($MN)
77 Asia Pacific Industrial Auger Blades Market Outlook, By Mining (2021-2030) ($MN)
78 Asia Pacific Industrial Auger Blades Market Outlook, By Agriculture (2021-2030) ($MN)
79 Asia Pacific Industrial Auger Blades Market Outlook, By Construction (2021-2030) ($MN)
80 Asia Pacific Industrial Auger Blades Market Outlook, By Other End Users (2021-2030) ($MN)
81 South America Industrial Auger Blades Market Outlook, By Country (2021-2030) ($MN)
82 South America Industrial Auger Blades Market Outlook, By Type (2021-2030) ($MN)
83 South America Industrial Auger Blades Market Outlook, By Custom Auger Blades (2021-2030) ($MN)
84 South America Industrial Auger Blades Market Outlook, By Specialty Auger Blades (2021-2030) ($MN)
85 South America Industrial Auger Blades Market Outlook, By Other Types (2021-2030) ($MN)
86 South America Industrial Auger Blades Market Outlook, By Material Composition (2021-2030) ($MN)
87 South America Industrial Auger Blades Market Outlook, By Tungsten Carbide Auger Blades (2021-2030) ($MN)
88 South America Industrial Auger Blades Market Outlook, By Stainless Steel Auger Blades (2021-2030) ($MN)
89 South America Industrial Auger Blades Market Outlook, By Carbon Steel Auger Blades (2021-2030) ($MN)
90 South America Industrial Auger Blades Market Outlook, By Diameter (2021-2030) ($MN)
91 South America Industrial Auger Blades Market Outlook, By Large Diameter Auger Blades (2021-2030) ($MN)
92 South America Industrial Auger Blades Market Outlook, By Medium Diameter Auger Blades (2021-2030) ($MN)
93 South America Industrial Auger Blades Market Outlook, By Small Diameter Auger Blades (2021-2030) ($MN)
94 South America Industrial Auger Blades Market Outlook, By End User (2021-2030) ($MN)
95 South America Industrial Auger Blades Market Outlook, By Water & Wastewater Treatment (2021-2030) ($MN)
96 South America Industrial Auger Blades Market Outlook, By Oil & Gas (2021-2030) ($MN)
97 South America Industrial Auger Blades Market Outlook, By Mining (2021-2030) ($MN)
98 South America Industrial Auger Blades Market Outlook, By Agriculture (2021-2030) ($MN)
99 South America Industrial Auger Blades Market Outlook, By Construction (2021-2030) ($MN)
100 South America Industrial Auger Blades Market Outlook, By Other End Users (2021-2030) ($MN)
101 Middle East & Africa Industrial Auger Blades Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Industrial Auger Blades Market Outlook, By Type (2021-2030) ($MN)
103 Middle East & Africa Industrial Auger Blades Market Outlook, By Custom Auger Blades (2021-2030) ($MN)
104 Middle East & Africa Industrial Auger Blades Market Outlook, By Specialty Auger Blades (2021-2030) ($MN)
105 Middle East & Africa Industrial Auger Blades Market Outlook, By Other Types (2021-2030) ($MN)
106 Middle East & Africa Industrial Auger Blades Market Outlook, By Material Composition (2021-2030) ($MN)
107 Middle East & Africa Industrial Auger Blades Market Outlook, By Tungsten Carbide Auger Blades (2021-2030) ($MN)
108 Middle East & Africa Industrial Auger Blades Market Outlook, By Stainless Steel Auger Blades (2021-2030) ($MN)
109 Middle East & Africa Industrial Auger Blades Market Outlook, By Carbon Steel Auger Blades (2021-2030) ($MN)
110 Middle East & Africa Industrial Auger Blades Market Outlook, By Diameter (2021-2030) ($MN)
111 Middle East & Africa Industrial Auger Blades Market Outlook, By Large Diameter Auger Blades (2021-2030) ($MN)
112 Middle East & Africa Industrial Auger Blades Market Outlook, By Medium Diameter Auger Blades (2021-2030) ($MN)
113 Middle East & Africa Industrial Auger Blades Market Outlook, By Small Diameter Auger Blades (2021-2030) ($MN)
114 Middle East & Africa Industrial Auger Blades Market Outlook, By End User (2021-2030) ($MN)
115 Middle East & Africa Industrial Auger Blades Market Outlook, By Water & Wastewater Treatment (2021-2030) ($MN)
116 Middle East & Africa Industrial Auger Blades Market Outlook, By Oil & Gas (2021-2030) ($MN)
117 Middle East & Africa Industrial Auger Blades Market Outlook, By Mining (2021-2030) ($MN)
118 Middle East & Africa Industrial Auger Blades Market Outlook, By Agriculture (2021-2030) ($MN)
119 Middle East & Africa Industrial Auger Blades Market Outlook, By Construction (2021-2030) ($MN)
120 Middle East & Africa Industrial Auger Blades Market Outlook, By Other End Users (2021-2030) ($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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