Naval Ship Propeller Market
Naval Ship Propeller Market Forecasts to 2028 - Global Analysis By Material (Aluminum, Bronze and Other Materials), Propulsion (Outboard, Inboard and Other Propulsions), Propeller Type, Sales Channel and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $3.7 BN |
|
Projected Year Value (2028) |
US $6.2 BN |
|
CAGR (2022 - 2028) |
8.7% |
|
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 Naval Ship Propeller Market is accounted for $3.7 billion in 2022 and is expected to reach $6.2 billion by 2028 growing at a CAGR of 8.7% during the forecast period. A naval ship propeller is an object that rotates like a fan and has radiating blades and a propeller shaft. The ship moves as a result of the thrust produced by the propeller and transmitted through the ship's gearbox system. Corrosion-resistant materials, such as stainless steel and aluminium, are used in the production of marine propellers because they can function well in saltwater.
According to the United Nations Conference on Trade and Development (UNCTAD), the international maritime trade grew with a growth rate of 4%, the highest from 2014.
Market Dynamics:
Driver:
Rising fixed propeller adoption
In recent years, the industry has seen a growth in fixed propeller acceptance and use. The hub is securely attached to the shaft and blades of the fixed pitch maritime propeller. set pitch propellers have a set pitch position that cannot be modified while they are operating as it is typically cast. It is often made from copper alloy. Given that the system has no mechanical or hydraulic connections, fixed pitch propellers are selected as the most dependable and long-lasting option. The use of fixed propellers has been promoted by lower manufacturing, installation, and operating costs compared to variable pitch propellers.
Restraint:
Strict regulations
Under the new IMO2020 requirements, sulfur content in fuel oil must be reduced from 3.50 percent m/m to 0.50 percent m/m (mass by mass). These new regulations will help reduce health problems in coastal areas and port cities and acid rain and lightning storms along trade routes. These severe environmental laws will considerably influence seaborne commercial activities, stifling business expansion.
Opportunity:
Adoption of environment-friendly propulsion systems
Naval Ships move over the water thanks to marine propulsion systems, which also protect the marine ecology. End users of wind propulsion systems for commercial ships have grown more interested in them as a result of increased fuel prices. It also replaces systems that produce large volumes of carbon dioxide (CO2). In order to hasten the decarbonization of the shipping sector, the International Windship Association (IWSA) introduced a new project. The "Decade of Wind Propulsion" campaign seeks to encourage the use of hybrid alternative propulsion systems that combine wind, alternative fuels, and energy efficiency techniques.
Threat:
Shipping overcapacity
When there are more shipping boats than there is demand, this is referred to as shipping overcapacity. One of the main causes of shipping overcapacity is the expectation of ongoing growth in commercial operations, for which additional boats are purchased to meet the anticipated demand. Old containers are being replaced with new ones that use less energy. Due to their poor scrap value, several of the ancient vessels have not yet been destroyed. These ships are put up for sale, which adds more tonnage to an already oversaturated market. Despite an increase in global seaborne commerce, the shipping sector's overcapacity has resulted in a fall in new vessel orders. Therefore, it is projected that a main obstacle to the expansion of the marine propeller market would be the decline in new shipbuilding orders.
Covid-19 Impact
The COVID-19 pandemic's effects have caused supply-chain interruptions and decreased economic activity, which has led to a decrease in orders for new ships. Propeller demand during the epidemic is down due to the low amount of new ship orders. The pandemic's reduced trade and ship manufacturing also hindered market expansion. Additionally, the implementation of new environmental restrictions compelled ship owners to purchase newer ships, pay more for cleaner fuel, or install scrubbers that reduce pollutants. The pandemic's high fuel costs and unfavourable market circumstances led ship owners to demolish older ships in order to reduce losses.
The stainless steel segment is expected to be the largest during the forecast period
The stainless steel segment is estimated to have a lucrative growth, due to the increase in result of the propulsion system's increasing usage of stainless steel materials. Compared to other materials, it offers more strength and dependability. Alloys of aluminium, bronze, nickel-aluminum bronze and other materials are also often utilised. The market would expand as a result of the propulsion system's growing use of corrosion-resistant metals.
The fixed pitch propeller segment is expected to have the highest CAGR during the forecast period
The fixed pitch propeller segment is anticipated to witness the highest CAGR growth during the forecast period, due to the lack of mechanical and hydraulic subsystems compared to controlled pitch propellers, fixed pitch propellers are strong and dependable. Additionally, they are less expensive to manufacture, install, and operate than other propeller kinds. As a result, they are now often utilised in naval ships. The benefits of the category, such as greater manoeuvrability, lower blade wear and tear, and considerable NVH performance when compared to others, are responsible for the high growth rate of the market. Since they are currently being accepted gradually, their revenue share is anticipated to increase throughout the projection period.
Region with highest share:
Asia Pacific is projected to hold the highest market share during the forecast period owing to the significant military spending by the growing nations in the Asia Pacific area, such as India and China, is what drives the region's navy ship purchases. In addition, the conflicts in the South China Sea, Indian Ocean, and Arabian Sea are encouraging the navy to improve their sea-based capabilities. All of these elements are assisting in the purchase of naval ships, which is fostering the expansion of the navy ship propeller market.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to Due to the region's thriving maritime economy, the presence of the major marine lines, the rise in investment in the marine sector, and the rise in the number of naval propeller makers, this growth is ascribed to the upgrading of dry cargos for real-time data interchange in the U.S. Furthermore, the industry is anticipated to grow due to Canada's strong need for specialised vessels for marine tourism.
Key players in the market
Some of the key players profiled in the Naval Ship Propeller Market include Brunswick Corporation, Bruntons Propellers Ltd., Kongsberg Gruppen, AB Volvo, Hyundai Heavy Industries Co., Ltd., Rolls-Royce plc, VEEM Propellers Ltd, Andritz AG, Michigan Wheel Holdings LLC, Wärtsilä Corporation, NAKASHIMA PROPELLER Co., Ltd., MAN SE, Mecklenburger Metallguss GmbH, SCHOTTEL Group and Michigan Wheel
Key Developments:
In April 2023, Brunswick Corporation Announces Expansion of BoatClass with Eight New Locations for the 2023 Boating Season, BoatClass is a differentiator in the marketplace by modernizing the boat training experience giving participants a hands-on opportunity to learn and master the skills necessary to be comfortable and confident at the helm.
In Feb 2023, Kongsberg Maritime has signed a repeat order from client Grimaldi Group to supply engineering and technology for two new 7800-line metre (LM) Roll on – Roll off (Ro-Ro) vessels, which will be built at China Merchant Jinling Shipyard. The contract was signed in Q4 2022, and the vessels are scheduled for delivery in 2025.
Materials Covered:
• Aluminum
• Bronze
• Stainless Steel
• Nickel-Aluminum Bronze
• Other Materials
Propulsions Covered:
• Outboard
• Inboard
• Sterndrive
• Other Propulsions
Propeller Types Covered:
• Controllable Pitch Propeller
• Fixed Pitch Propeller
• Other Propeller Types
Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer
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 Emerging Markets
3.7 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 Naval Ship Propeller Market, By Material
5.1 Introduction
5.2 Aluminum
5.3 Bronze
5.4 Stainless Steel
5.5 Nickel-Aluminum Bronze
5.6 Other Materials
6 Global Naval Ship Propeller Market, By Propulsion
6.1 Introduction
6.2 Outboard
6.3 Inboard
6.4 Sterndrive
6.5 Other Propulsions
7 Global Naval Ship Propeller Market, By Propeller Type
7.1 Introduction
7.2 Controllable Pitch Propeller
7.3 Fixed Pitch Propeller
7.4 Other Propeller Types
8 Global Naval Ship Propeller Market, By Sales Channel
8.1 Introduction
8.2 Aftermarket
8.3 Original Equipment Manufacturer
9 Global Naval Ship Propeller 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 Brunswick Corporation
11.2 Bruntons Propellers Ltd.
11.3 Kongsberg Gruppen
11.4 AB Volvo
11.5 Hyundai Heavy Industries Co., Ltd.
11.6 Rolls-Royce plc
11.7 VEEM Propellers Ltd
11.8 Andritz AG
11.9 Michigan Wheel Holdings LLC
11.10 Wärtsilä Corporation
11.11 Nakashima Propeller Co., Ltd.
11.12 Man Se
11.13 Mecklenburger Metallguss Gmbh
11.14 Schottel Group
11.15 Michigan Wheel
List of Tables
1 Global Naval Ship Propeller Market Outlook, By Region (2020-2028) ($MN)
2 Global Naval Ship Propeller Market Outlook, By Material (2020-2028) ($MN)
3 Global Naval Ship Propeller Market Outlook, By Aluminum (2020-2028) ($MN)
4 Global Naval Ship Propeller Market Outlook, By Bronze (2020-2028) ($MN)
5 Global Naval Ship Propeller Market Outlook, By Stainless Steel (2020-2028) ($MN)
6 Global Naval Ship Propeller Market Outlook, By Nickel-Aluminum Bronze (2020-2028) ($MN)
7 Global Naval Ship Propeller Market Outlook, By Other Materials (2020-2028) ($MN)
8 Global Naval Ship Propeller Market Outlook, By Propulsion (2020-2028) ($MN)
9 Global Naval Ship Propeller Market Outlook, By Outboard (2020-2028) ($MN)
10 Global Naval Ship Propeller Market Outlook, By Inboard (2020-2028) ($MN)
11 Global Naval Ship Propeller Market Outlook, By Sterndrive (2020-2028) ($MN)
12 Global Naval Ship Propeller Market Outlook, By Other Propulsions (2020-2028) ($MN)
13 Global Naval Ship Propeller Market Outlook, By Propeller Type (2020-2028) ($MN)
14 Global Naval Ship Propeller Market Outlook, By Controllable Pitch Propeller (2020-2028) ($MN)
15 Global Naval Ship Propeller Market Outlook, By Fixed Pitch Propeller (2020-2028) ($MN)
16 Global Naval Ship Propeller Market Outlook, By Other Propeller Types (2020-2028) ($MN)
17 Global Naval Ship Propeller Market Outlook, By Sales Channel (2020-2028) ($MN)
18 Global Naval Ship Propeller Market Outlook, By Aftermarket (2020-2028) ($MN)
19 Global Naval Ship Propeller Market Outlook, By Original Equipment Manufacturer (2020-2028) ($MN)
20 North America Naval Ship Propeller Market Outlook, By Country (2020-2028) ($MN)
21 North America Naval Ship Propeller Market Outlook, By Material (2020-2028) ($MN)
22 North America Naval Ship Propeller Market Outlook, By Aluminum (2020-2028) ($MN)
23 North America Naval Ship Propeller Market Outlook, By Bronze (2020-2028) ($MN)
24 North America Naval Ship Propeller Market Outlook, By Stainless Steel (2020-2028) ($MN)
25 North America Naval Ship Propeller Market Outlook, By Nickel-Aluminum Bronze (2020-2028) ($MN)
26 North America Naval Ship Propeller Market Outlook, By Other Materials (2020-2028) ($MN)
27 North America Naval Ship Propeller Market Outlook, By Propulsion (2020-2028) ($MN)
28 North America Naval Ship Propeller Market Outlook, By Outboard (2020-2028) ($MN)
29 North America Naval Ship Propeller Market Outlook, By Inboard (2020-2028) ($MN)
30 North America Naval Ship Propeller Market Outlook, By Sterndrive (2020-2028) ($MN)
31 North America Naval Ship Propeller Market Outlook, By Other Propulsions (2020-2028) ($MN)
32 North America Naval Ship Propeller Market Outlook, By Propeller Type (2020-2028) ($MN)
33 North America Naval Ship Propeller Market Outlook, By Controllable Pitch Propeller (2020-2028) ($MN)
34 North America Naval Ship Propeller Market Outlook, By Fixed Pitch Propeller (2020-2028) ($MN)
35 North America Naval Ship Propeller Market Outlook, By Other Propeller Types (2020-2028) ($MN)
36 North America Naval Ship Propeller Market Outlook, By Sales Channel (2020-2028) ($MN)
37 North America Naval Ship Propeller Market Outlook, By Aftermarket (2020-2028) ($MN)
38 North America Naval Ship Propeller Market Outlook, By Original Equipment Manufacturer (2020-2028) ($MN)
39 Europe Naval Ship Propeller Market Outlook, By Country (2020-2028) ($MN)
40 Europe Naval Ship Propeller Market Outlook, By Material (2020-2028) ($MN)
41 Europe Naval Ship Propeller Market Outlook, By Aluminum (2020-2028) ($MN)
42 Europe Naval Ship Propeller Market Outlook, By Bronze (2020-2028) ($MN)
43 Europe Naval Ship Propeller Market Outlook, By Stainless Steel (2020-2028) ($MN)
44 Europe Naval Ship Propeller Market Outlook, By Nickel-Aluminum Bronze (2020-2028) ($MN)
45 Europe Naval Ship Propeller Market Outlook, By Other Materials (2020-2028) ($MN)
46 Europe Naval Ship Propeller Market Outlook, By Propulsion (2020-2028) ($MN)
47 Europe Naval Ship Propeller Market Outlook, By Outboard (2020-2028) ($MN)
48 Europe Naval Ship Propeller Market Outlook, By Inboard (2020-2028) ($MN)
49 Europe Naval Ship Propeller Market Outlook, By Sterndrive (2020-2028) ($MN)
50 Europe Naval Ship Propeller Market Outlook, By Other Propulsions (2020-2028) ($MN)
51 Europe Naval Ship Propeller Market Outlook, By Propeller Type (2020-2028) ($MN)
52 Europe Naval Ship Propeller Market Outlook, By Controllable Pitch Propeller (2020-2028) ($MN)
53 Europe Naval Ship Propeller Market Outlook, By Fixed Pitch Propeller (2020-2028) ($MN)
54 Europe Naval Ship Propeller Market Outlook, By Other Propeller Types (2020-2028) ($MN)
55 Europe Naval Ship Propeller Market Outlook, By Sales Channel (2020-2028) ($MN)
56 Europe Naval Ship Propeller Market Outlook, By Aftermarket (2020-2028) ($MN)
57 Europe Naval Ship Propeller Market Outlook, By Original Equipment Manufacturer (2020-2028) ($MN)
58 Asia Pacific Naval Ship Propeller Market Outlook, By Country (2020-2028) ($MN)
59 Asia Pacific Naval Ship Propeller Market Outlook, By Material (2020-2028) ($MN)
60 Asia Pacific Naval Ship Propeller Market Outlook, By Aluminum (2020-2028) ($MN)
61 Asia Pacific Naval Ship Propeller Market Outlook, By Bronze (2020-2028) ($MN)
62 Asia Pacific Naval Ship Propeller Market Outlook, By Stainless Steel (2020-2028) ($MN)
63 Asia Pacific Naval Ship Propeller Market Outlook, By Nickel-Aluminum Bronze (2020-2028) ($MN)
64 Asia Pacific Naval Ship Propeller Market Outlook, By Other Materials (2020-2028) ($MN)
65 Asia Pacific Naval Ship Propeller Market Outlook, By Propulsion (2020-2028) ($MN)
66 Asia Pacific Naval Ship Propeller Market Outlook, By Outboard (2020-2028) ($MN)
67 Asia Pacific Naval Ship Propeller Market Outlook, By Inboard (2020-2028) ($MN)
68 Asia Pacific Naval Ship Propeller Market Outlook, By Sterndrive (2020-2028) ($MN)
69 Asia Pacific Naval Ship Propeller Market Outlook, By Other Propulsions (2020-2028) ($MN)
70 Asia Pacific Naval Ship Propeller Market Outlook, By Propeller Type (2020-2028) ($MN)
71 Asia Pacific Naval Ship Propeller Market Outlook, By Controllable Pitch Propeller (2020-2028) ($MN)
72 Asia Pacific Naval Ship Propeller Market Outlook, By Fixed Pitch Propeller (2020-2028) ($MN)
73 Asia Pacific Naval Ship Propeller Market Outlook, By Other Propeller Types (2020-2028) ($MN)
74 Asia Pacific Naval Ship Propeller Market Outlook, By Sales Channel (2020-2028) ($MN)
75 Asia Pacific Naval Ship Propeller Market Outlook, By Aftermarket (2020-2028) ($MN)
76 Asia Pacific Naval Ship Propeller Market Outlook, By Original Equipment Manufacturer (2020-2028) ($MN)
77 South America Naval Ship Propeller Market Outlook, By Country (2020-2028) ($MN)
78 South America Naval Ship Propeller Market Outlook, By Material (2020-2028) ($MN)
79 South America Naval Ship Propeller Market Outlook, By Aluminum (2020-2028) ($MN)
80 South America Naval Ship Propeller Market Outlook, By Bronze (2020-2028) ($MN)
81 South America Naval Ship Propeller Market Outlook, By Stainless Steel (2020-2028) ($MN)
82 South America Naval Ship Propeller Market Outlook, By Nickel-Aluminum Bronze (2020-2028) ($MN)
83 South America Naval Ship Propeller Market Outlook, By Other Materials (2020-2028) ($MN)
84 South America Naval Ship Propeller Market Outlook, By Propulsion (2020-2028) ($MN)
85 South America Naval Ship Propeller Market Outlook, By Outboard (2020-2028) ($MN)
86 South America Naval Ship Propeller Market Outlook, By Inboard (2020-2028) ($MN)
87 South America Naval Ship Propeller Market Outlook, By Sterndrive (2020-2028) ($MN)
88 South America Naval Ship Propeller Market Outlook, By Other Propulsions (2020-2028) ($MN)
89 South America Naval Ship Propeller Market Outlook, By Propeller Type (2020-2028) ($MN)
90 South America Naval Ship Propeller Market Outlook, By Controllable Pitch Propeller (2020-2028) ($MN)
91 South America Naval Ship Propeller Market Outlook, By Fixed Pitch Propeller (2020-2028) ($MN)
92 South America Naval Ship Propeller Market Outlook, By Other Propeller Types (2020-2028) ($MN)
93 South America Naval Ship Propeller Market Outlook, By Sales Channel (2020-2028) ($MN)
94 South America Naval Ship Propeller Market Outlook, By Aftermarket (2020-2028) ($MN)
95 South America Naval Ship Propeller Market Outlook, By Original Equipment Manufacturer (2020-2028) ($MN)
96 Middle East & Africa Naval Ship Propeller Market Outlook, By Country (2020-2028) ($MN)
97 Middle East & Africa Naval Ship Propeller Market Outlook, By Material (2020-2028) ($MN)
98 Middle East & Africa Naval Ship Propeller Market Outlook, By Aluminum (2020-2028) ($MN)
99 Middle East & Africa Naval Ship Propeller Market Outlook, By Bronze (2020-2028) ($MN)
100 Middle East & Africa Naval Ship Propeller Market Outlook, By Stainless Steel (2020-2028) ($MN)
101 Middle East & Africa Naval Ship Propeller Market Outlook, By Nickel-Aluminum Bronze (2020-2028) ($MN)
102 Middle East & Africa Naval Ship Propeller Market Outlook, By Other Materials (2020-2028) ($MN)
103 Middle East & Africa Naval Ship Propeller Market Outlook, By Propulsion (2020-2028) ($MN)
104 Middle East & Africa Naval Ship Propeller Market Outlook, By Outboard (2020-2028) ($MN)
105 Middle East & Africa Naval Ship Propeller Market Outlook, By Inboard (2020-2028) ($MN)
106 Middle East & Africa Naval Ship Propeller Market Outlook, By Sterndrive (2020-2028) ($MN)
107 Middle East & Africa Naval Ship Propeller Market Outlook, By Other Propulsions (2020-2028) ($MN)
108 Middle East & Africa Naval Ship Propeller Market Outlook, By Propeller Type (2020-2028) ($MN)
109 Middle East & Africa Naval Ship Propeller Market Outlook, By Controllable Pitch Propeller (2020-2028) ($MN)
110 Middle East & Africa Naval Ship Propeller Market Outlook, By Fixed Pitch Propeller (2020-2028) ($MN)
111 Middle East & Africa Naval Ship Propeller Market Outlook, By Other Propeller Types (2020-2028) ($MN)
112 Middle East & Africa Naval Ship Propeller Market Outlook, By Sales Channel (2020-2028) ($MN)
113 Middle East & Africa Naval Ship Propeller Market Outlook, By Aftermarket (2020-2028) ($MN)
114 Middle East & Africa Naval Ship Propeller Market Outlook, By Original Equipment Manufacturer (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.
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