Iron Ore Pellets Market Forecasts to 2028 - Global Analysis By Grade (Blast Furnaces, Direct Reduction and Other Grades), Source (Hematite, Taconite, Magnetite and Other Sources), Technology (Oxygen-based/Blast Furnaces, Electric Arc Furnaces, Electric Induction Furnaces and Other Technologies), Application and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $60 BN |
|
Projected Year Value (2028) |
US $82 BN |
|
CAGR (2022 - 2028) |
5.4% |
|
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 |
Europe |
According to Stratistics MRC, the Global Iron Ore Pellets Market is accounted for $60 billion in 2022 and is expected to reach $82 billion by 2028 growing at a CAGR of 5.4% during the forecast period. Iron ore pellets are spherical balls of iron ore that are used in steel manufacturing. Iron ore pellets are the kind of balls that are small in size manufactured from iron ore. The iron ore pellets are present in various industries. The iron ore pellets are manufactured with various technologies such as oxygen-based/blast furnace, electric induction furnace, and various other technologies. It helps in providing the tensile strength as well as durability to the end-users.
According to the World Steel Association, a global completed steel marketplace call for has been expected at around USD 1.68 billion metric lots and it's going to develop at a sizable rate over the forecast timeframe. According to the World Steel Association, the global crude steel production increased by 3.4 percent to 1,869.9 million tons.
Market Dynamics:
Driver:
Absence of high-grade lump ore
Before, lump ores were the main source of iron in the manufacturing process. However, due to extensive mining activity by many corporations, high-grade lump ore reserves have been quickly diminishing over time. Furthermore, the sintering process, which is used when lump ore is used, produces more pollution than the pelletizing process, so major steel companies prefer to use iron ore pellets as blast furnace feed over lump ore. Furthermore, the steel demand is predicted to rise as the building and construction industry grows with rising industrialization. As a result of these reasons, the demand for iron ore pellets is expanding.
Restraint:
Fluctuations in raw material prices
The market is heavily needy on iron and steel and consequently, the fluctuations in the price of raw material will prove to be a demerit for the iron ore pellets market. However, it requires highly specialized equipment, requires trained personnel, filling into gelatin capsules is difficult. These factors are expected to hamper growth of the global iron ore pellets market.
Opportunity:
Investments and Government Initiatives
Significant investments in research and development activities that further enhance product applications extend profitable opportunities to the market players. As with many industries, an increasing focus on sustainability has prompted producers to look at every available resource as a potential raw material. Additionally, various governments have taken a move towards more sustainable steel production will further expand the future growth of the iron ore pellets market.
Threat:
Accessibility of substitutes
The use of aluminum as a substitute to steel, mainly in automotive applications, is projected to restrain the demand for steel. Carbon fibers are also widely being used in the automotive industry due to their lightness, high strength, and load-bearing properties. Automobile manufacturers are under rising pressure to meet the regulatory requirements pertaining to the environmental impact of vehicles. Thus, impacting the growth of the iron ore pellets market
Covid-19 Impact
The recent outbreak of corona virus had a negative impact on the iron ore pellets market. The global suspension of steel-producing services largely affected the market. Falling steel use, this has had an influence on iron ore pricing in various parts of the world. Moreover, the halt of various supply chain, as well as the other operations, largely impacted the market. Moreover, the individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and as a result the market is estimated to expand.
The blast furnace segment is expected to be the largest during the forecast period
The blast furnace segment is estimated to have a lucrative growth, due to it is a lower grade product when compared to iron pellets used in direct reduced method, and therefore has a lower cost compared to its counterpart. Blast furnace method is usually found in integrated steel plants. Lower cost of these iron ore pellets, coupled with the abundance of integrated steel plants found in developed economies, is the primary factor boosting the growth of the BF segment.
The electric induction furnace segment is expected to have the highest CAGR during the forecast period
The electric induction furnace segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its ability to allow energy efficient, clean, and easily controllable melting process. Various benefits, such as reduced pollution and superior metallurgical control, are boosting the demand for technology. Moreover, as the absence of traditional combustion sources minimizes the oxidation loss, the electric induction furnace improves yielding capability, which is also increasing its demand.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to its various benefits, including uniform size and high metallization rate. Also, growing urbanization and associated constructions associated with the presence of various automotive majors are expected to stimulate demand for iron ore pellets in this region. The quick growth in the construction & infrastructural projects in the region are expected to spur the demand for steel, and subsequently drive iron ore pellet demand during the forecast period.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the high demand of steel in highly energy-intensive industry and iron pellet reduces the cost. The increasing production of electric vehicles, demand from construction, aerospace & defence, and automotive industries and revival of aircraft manufacturing operations is expected to drive demand. This is likely to in turn increase the demand for iron ore pellets.
Key players in the market
Some of the key players profiled in the Iron Ore Pellets Market include Cleveland-Cliffs, Inc., Jindal SAW Ltd, Rio Tinto Group, Vale S.A., BHP Billiton, ArcelorMittal S.A, United States Steel Corporation, Mitsubishi Corporation, NMDC Limited, Bahrain Steel, Fortescue Metals, Xindia Steels Ltd., Ferrexpo p2lc, Metso Outotec, LKAB Koncernkontor , KIOCL Limited, Iron Ore Company of Canada, METALLOINVEST MC LLC, Tata Steel and SAIL.
Key Developments:
In March 2022, ArcelorMittal partnered with Greenko Group India to establish a strategic renewable energy partnership.
In December 2020, Rio Tinto announced their willingness to improve the pricing system of iron ore, especially for steelmaking ingredient. The announcement helps increase the company's production capacity and generates revenue for the business in the future.
In October 2020, Vale decided to enhance the level of the output of the iron ore pellet in the third quarter after the restart of several operations. The business expansion helps in increasing the customer base of the company which enhances sales of the business.
Grades Covered:
• Blast Furnaces (BF)
• Direct Reduction (DR)
• Other Grades
Sources Covered:
• Hematite
• Taconite
• Magnetite
• Other Sources
Technologies Covered:
• Oxygen-based/Blast Furnaces
• Electric Arc Furnaces
• Electric Induction Furnaces
• Other Technologies
Applications Covered:
• Steel Production
• Iron-based Chemicals
• Other Applications
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 2020, 2021, 2022, 2025, and 2028
- 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 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Iron Ore Pellets Market, By Grade
5.1 Introduction
5.2 Blast Furnaces
5.3 Direct Reduction
5.4 Other Grades
6 Global Iron Ore Pellets Market, By Source
6.1 Introduction
6.2 Hematite
6.3 Taconite
6.4 Magnetite
6.5 Other Sources
7 Global Iron Ore Pellets Market, By Technology
7.1 Introduction
7.2 Oxygen-based/Blast Furnaces
7.3 Electric Arc Furnaces
7.4 Electric Induction Furnaces
7.5 Other Technologies
8 Global Iron Ore Pellets Market, By Application
8.1 Introduction
8.2 Steel Production
8.3 Iron-based Chemicals
8.4 Other Applications
9 Global Iron Ore Pellet 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 Cleveland-Cliffs, Inc.
11.2 Jindal SAW Ltd
11.3 Rio Tinto Group
11.4 Vale S.A.
11.5 BHP Billiton
11.6 ArcelorMittal S.A
11.7 United States Steel Corporation
11.8 Mitsubishi Corporation
11.9 NMDC Limited
11.10 Bahrain Steel
11.11 Fortescue Metals
11.12 Xindia Steels Ltd.
11.13 Ferrexpo p2lc
11.14 Metso Outotec
11.15 LKAB Koncernkontor
11.16 KIOCL Limited
11.17 Iron Ore Company of Canada
11.18 METALLOINVEST MC LLC
11.19 Tata Steel
11.20 SAIL
List of Tables
1 Global Iron Ore Pellets Market Outlook, By Region (2020-2028) ($MN)
2 Global Iron Ore Pellets Market Outlook, By Grade (2020-2028) ($MN)
3 Global Iron Ore Pellets Market Outlook, By Blast Furnaces (2020-2028) ($MN)
4 Global Iron Ore Pellets Market Outlook, By Direct Reduction (2020-2028) ($MN)
5 Global Iron Ore Pellets Market Outlook, By Other Grades (2020-2028) ($MN)
6 Global Iron Ore Pellets Market Outlook, By Source (2020-2028) ($MN)
7 Global Iron Ore Pellets Market Outlook, By Hematite (2020-2028) ($MN)
8 Global Iron Ore Pellets Market Outlook, By Taconite (2020-2028) ($MN)
9 Global Iron Ore Pellets Market Outlook, By Magnetite (2020-2028) ($MN)
10 Global Iron Ore Pellets Market Outlook, By Other Sources (2020-2028) ($MN)
11 Global Iron Ore Pellets Market Outlook, By Technology (2020-2028) ($MN)
12 Global Iron Ore Pellets Market Outlook, By Oxygen-based/Blast Furnaces (2020-2028) ($MN)
13 Global Iron Ore Pellets Market Outlook, By Electric Arc Furnaces (2020-2028) ($MN)
14 Global Iron Ore Pellets Market Outlook, By Electric Induction Furnaces (2020-2028) ($MN)
15 Global Iron Ore Pellets Market Outlook, By Other Technologies (2020-2028) ($MN)
16 Global Iron Ore Pellets Market Outlook, By Application (2020-2028) ($MN)
17 Global Iron Ore Pellets Market Outlook, By Steel Production (2020-2028) ($MN)
18 Global Iron Ore Pellets Market Outlook, By Iron-based Chemicals (2020-2028) ($MN)
19 Global Iron Ore Pellets Market Outlook, By Other Applications (2020-2028) ($MN)
20 North America Iron Ore Pellets Market Outlook, By Country (2020-2028) ($MN)
21 North America Iron Ore Pellets Market Outlook, By Grade (2020-2028) ($MN)
22 North America Iron Ore Pellets Market Outlook, By Blast Furnaces (2020-2028) ($MN)
23 North America Iron Ore Pellets Market Outlook, By Direct Reduction (2020-2028) ($MN)
24 North America Iron Ore Pellets Market Outlook, By Other Grades (2020-2028) ($MN)
25 North America Iron Ore Pellets Market Outlook, By Source (2020-2028) ($MN)
26 North America Iron Ore Pellets Market Outlook, By Hematite (2020-2028) ($MN)
27 North America Iron Ore Pellets Market Outlook, By Taconite (2020-2028) ($MN)
28 North America Iron Ore Pellets Market Outlook, By Magnetite (2020-2028) ($MN)
29 North America Iron Ore Pellets Market Outlook, By Other Sources (2020-2028) ($MN)
30 North America Iron Ore Pellets Market Outlook, By Technology (2020-2028) ($MN)
31 North America Iron Ore Pellets Market Outlook, By Oxygen-based/Blast Furnaces (2020-2028) ($MN)
32 North America Iron Ore Pellets Market Outlook, By Electric Arc Furnaces (2020-2028) ($MN)
33 North America Iron Ore Pellets Market Outlook, By Electric Induction Furnaces (2020-2028) ($MN)
34 North America Iron Ore Pellets Market Outlook, By Other Technologies (2020-2028) ($MN)
35 North America Iron Ore Pellets Market Outlook, By Application (2020-2028) ($MN)
36 North America Iron Ore Pellets Market Outlook, By Steel Production (2020-2028) ($MN)
37 North America Iron Ore Pellets Market Outlook, By Iron-based Chemicals (2020-2028) ($MN)
38 North America Iron Ore Pellets Market Outlook, By Other Applications (2020-2028) ($MN)
39 Europe Iron Ore Pellets Market Outlook, By Country (2020-2028) ($MN)
40 Europe Iron Ore Pellets Market Outlook, By Grade (2020-2028) ($MN)
41 Europe Iron Ore Pellets Market Outlook, By Blast Furnaces (2020-2028) ($MN)
42 Europe Iron Ore Pellets Market Outlook, By Direct Reduction (2020-2028) ($MN)
43 Europe Iron Ore Pellets Market Outlook, By Other Grades (2020-2028) ($MN)
44 Europe Iron Ore Pellets Market Outlook, By Source (2020-2028) ($MN)
45 Europe Iron Ore Pellets Market Outlook, By Hematite (2020-2028) ($MN)
46 Europe Iron Ore Pellets Market Outlook, By Taconite (2020-2028) ($MN)
47 Europe Iron Ore Pellets Market Outlook, By Magnetite (2020-2028) ($MN)
48 Europe Iron Ore Pellets Market Outlook, By Other Sources (2020-2028) ($MN)
49 Europe Iron Ore Pellets Market Outlook, By Technology (2020-2028) ($MN)
50 Europe Iron Ore Pellets Market Outlook, By Oxygen-based/Blast Furnaces (2020-2028) ($MN)
51 Europe Iron Ore Pellets Market Outlook, By Electric Arc Furnaces (2020-2028) ($MN)
52 Europe Iron Ore Pellets Market Outlook, By Electric Induction Furnaces (2020-2028) ($MN)
53 Europe Iron Ore Pellets Market Outlook, By Other Technologies (2020-2028) ($MN)
54 Europe Iron Ore Pellets Market Outlook, By Application (2020-2028) ($MN)
55 Europe Iron Ore Pellets Market Outlook, By Steel Production (2020-2028) ($MN)
56 Europe Iron Ore Pellets Market Outlook, By Iron-based Chemicals (2020-2028) ($MN)
57 Europe Iron Ore Pellets Market Outlook, By Other Applications (2020-2028) ($MN)
58 Asia Pacific Iron Ore Pellets Market Outlook, By Country (2020-2028) ($MN)
59 Asia Pacific Iron Ore Pellets Market Outlook, By Grade (2020-2028) ($MN)
60 Asia Pacific Iron Ore Pellets Market Outlook, By Blast Furnaces (2020-2028) ($MN)
61 Asia Pacific Iron Ore Pellets Market Outlook, By Direct Reduction (2020-2028) ($MN)
62 Asia Pacific Iron Ore Pellets Market Outlook, By Other Grades (2020-2028) ($MN)
63 Asia Pacific Iron Ore Pellets Market Outlook, By Source (2020-2028) ($MN)
64 Asia Pacific Iron Ore Pellets Market Outlook, By Hematite (2020-2028) ($MN)
65 Asia Pacific Iron Ore Pellets Market Outlook, By Taconite (2020-2028) ($MN)
66 Asia Pacific Iron Ore Pellets Market Outlook, By Magnetite (2020-2028) ($MN)
67 Asia Pacific Iron Ore Pellets Market Outlook, By Other Sources (2020-2028) ($MN)
68 Asia Pacific Iron Ore Pellets Market Outlook, By Technology (2020-2028) ($MN)
69 Asia Pacific Iron Ore Pellets Market Outlook, By Oxygen-based/Blast Furnaces (2020-2028) ($MN)
70 Asia Pacific Iron Ore Pellets Market Outlook, By Electric Arc Furnaces (2020-2028) ($MN)
71 Asia Pacific Iron Ore Pellets Market Outlook, By Electric Induction Furnaces (2020-2028) ($MN)
72 Asia Pacific Iron Ore Pellets Market Outlook, By Other Technologies (2020-2028) ($MN)
73 Asia Pacific Iron Ore Pellets Market Outlook, By Application (2020-2028) ($MN)
74 Asia Pacific Iron Ore Pellets Market Outlook, By Steel Production (2020-2028) ($MN)
75 Asia Pacific Iron Ore Pellets Market Outlook, By Iron-based Chemicals (2020-2028) ($MN)
76 Asia Pacific Iron Ore Pellets Market Outlook, By Other Applications (2020-2028) ($MN)
77 South America Iron Ore Pellets Market Outlook, By Country (2020-2028) ($MN)
78 South America Iron Ore Pellets Market Outlook, By Grade (2020-2028) ($MN)
79 South America Iron Ore Pellets Market Outlook, By Blast Furnaces (2020-2028) ($MN)
80 South America Iron Ore Pellets Market Outlook, By Direct Reduction (2020-2028) ($MN)
81 South America Iron Ore Pellets Market Outlook, By Other Grades (2020-2028) ($MN)
82 South America Iron Ore Pellets Market Outlook, By Source (2020-2028) ($MN)
83 South America Iron Ore Pellets Market Outlook, By Hematite (2020-2028) ($MN)
84 South America Iron Ore Pellets Market Outlook, By Taconite (2020-2028) ($MN)
85 South America Iron Ore Pellets Market Outlook, By Magnetite (2020-2028) ($MN)
86 South America Iron Ore Pellets Market Outlook, By Other Sources (2020-2028) ($MN)
87 South America Iron Ore Pellets Market Outlook, By Technology (2020-2028) ($MN)
88 South America Iron Ore Pellets Market Outlook, By Oxygen-based/Blast Furnaces (2020-2028) ($MN)
89 South America Iron Ore Pellets Market Outlook, By Electric Arc Furnaces (2020-2028) ($MN)
90 South America Iron Ore Pellets Market Outlook, By Electric Induction Furnaces (2020-2028) ($MN)
91 South America Iron Ore Pellets Market Outlook, By Other Technologies (2020-2028) ($MN)
92 South America Iron Ore Pellets Market Outlook, By Application (2020-2028) ($MN)
93 South America Iron Ore Pellets Market Outlook, By Steel Production (2020-2028) ($MN)
94 South America Iron Ore Pellets Market Outlook, By Iron-based Chemicals (2020-2028) ($MN)
95 South America Iron Ore Pellets Market Outlook, By Other Applications (2020-2028) ($MN)
96 Middle East & Africa Iron Ore Pellets Market Outlook, By Country (2020-2028) ($MN)
97 Middle East & Africa Iron Ore Pellets Market Outlook, By Grade (2020-2028) ($MN)
98 Middle East & Africa Iron Ore Pellets Market Outlook, By Blast Furnaces (2020-2028) ($MN)
99 Middle East & Africa Iron Ore Pellets Market Outlook, By Direct Reduction (2020-2028) ($MN)
100 Middle East & Africa Iron Ore Pellets Market Outlook, By Other Grades (2020-2028) ($MN)
101 Middle East & Africa Iron Ore Pellets Market Outlook, By Source (2020-2028) ($MN)
102 Middle East & Africa Iron Ore Pellets Market Outlook, By Hematite (2020-2028) ($MN)
103 Middle East & Africa Iron Ore Pellets Market Outlook, By Taconite (2020-2028) ($MN)
104 Middle East & Africa Iron Ore Pellets Market Outlook, By Magnetite (2020-2028) ($MN)
105 Middle East & Africa Iron Ore Pellets Market Outlook, By Other Sources (2020-2028) ($MN)
106 Middle East & Africa Iron Ore Pellets Market Outlook, By Technology (2020-2028) ($MN)
107 Middle East & Africa Iron Ore Pellets Market Outlook, By Oxygen-based/Blast Furnaces (2020-2028) ($MN)
108 Middle East & Africa Iron Ore Pellets Market Outlook, By Electric Arc Furnaces (2020-2028) ($MN)
109 Middle East & Africa Iron Ore Pellets Market Outlook, By Electric Induction Furnaces (2020-2028) ($MN)
110 Middle East & Africa Iron Ore Pellets Market Outlook, By Other Technologies (2020-2028) ($MN)
111 Middle East & Africa Iron Ore Pellets Market Outlook, By Application (2020-2028) ($MN)
112 Middle East & Africa Iron Ore Pellets Market Outlook, By Steel Production (2020-2028) ($MN)
113 Middle East & Africa Iron Ore Pellets Market Outlook, By Iron-based Chemicals (2020-2028) ($MN)
114 Middle East & Africa Iron Ore Pellets Market Outlook, By Other Applications (2020-2028) ($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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