Steam Methane Reforming Hydrogen Generation Market
Steam Methane Reforming Hydrogen Generation Market Forecasts to 2030 - Global Analysis By Capacity (Large-Scale SMR Systems, Small-Scale SMR Systems and Other Capacities), Technology, Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $143.8 BN |
|
Projected Year Value (2030) |
US $248.0 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 |
Asia Pacific |
According to Stratistics MRC, the Global Steam Methane Reforming Hydrogen Generation Market is accounted for $143.8 billion in 2023 and is expected to reach $248.0 billion by 2030 growing at a CAGR of 8.1% during the forecast period. The Steam Methane Reforming Hydrogen Generation Market refers to the industry focused on the production of hydrogen through the steam methane reforming (SMR) process. This method involves the reaction of methane with steam at high temperatures to produce hydrogen, carbon monoxide, and carbon dioxide. SMR technology is widely employed for large-scale hydrogen production, utilizing natural gas as a feedstock.
According to IEA 2019, Japan and China are the largest LNG importers with the highest potential for hydrogen development.
Market Dynamics:
Driver:
Growing demand for hydrogen
With hydrogen emerging as a key player in the transition towards a low-carbon economy, industries spanning transportation, manufacturing, and energy are increasingly relying on SMR technology for large-scale hydrogen production. The surge in demand is fueled by hydrogen's versatility as a clean energy carrier and its application in diverse sectors. As nations and industries strive to meet emission reduction targets and comply with environmental regulations, the importance of hydrogen continues to grow, positioning SMR as a preferred method for its production due to its efficiency and scalability.
Restraint:
High initial capital costs
Establishing large-scale SMR infrastructure involves substantial upfront expenditures for constructing reformers, related equipment, and adapting existing facilities. The financial burden of these initial capital investments can be a deterrent for potential investors and industry players, particularly in comparison to alternative hydrogen production technologies. As industries and governments globally seek to transition towards cleaner energy sources, the significant initial capital outlay required for SMR projects may hinder their economic viability, slowing down the market's growth.
Opportunity:
Technological advancements
Continuous innovation and improvements in SMR technology play a crucial role in enhancing the efficiency, reliability, and environmental performance of hydrogen production processes. Innovations such as advanced catalyst developments, process optimization, and novel engineering solutions contribute to making SMR more cost-effective and environmentally sustainable. Moreover, as the industry evolves, ongoing research and development efforts lead to breakthroughs that not only optimize existing SMR processes but also pave the way for the integration of renewable energy sources into hydrogen production, aligning with the broader goals of a cleaner and more sustainable energy landscape.
Threat:
Energy intensity and efficiency concerns
The SMR process, operating at high temperatures and requiring substantial energy inputs, raises apprehensions about overall efficiency compared to alternative hydrogen production methods. The energy-intensive nature of SMR not only contributes to operational costs but also conflicts with the increasing emphasis on energy efficiency and sustainable practices. As industries strive to minimize their carbon footprint, the relatively lower efficiency of SMR in converting natural gas to hydrogen becomes a limiting factor, potentially affecting its attractiveness in the evolving landscape of clean energy technologies.
Covid-19 Impact:
The global economic downturn led to a contraction in industrial activities, impacting the demand for hydrogen across various sectors such as manufacturing and transportation. Disruptions in the supply chain, labor shortages, and restricted mobility also affected the construction and commissioning of new SMR facilities, leading to project delays. However, the uncertainty surrounding energy markets and reduced capital expenditures by industries constrained investments in large-scale hydrogen production projects, including those utilizing SMR technology.
The Large-Scale SMR Systems segment is expected to be the largest during the forecast period
Large-Scale SMR Systems segment is expected to be the largest during the forecast period. Large-scale SMR systems exhibit the capability to produce substantial quantities of hydrogen, catering to the diverse needs of industrial processes, refining, and emerging applications like fuel cells. Their ability to leverage existing natural gas infrastructure provides a cost-effective pathway for industries transitioning towards cleaner energy sources. Furthermore, the segment's boom is further fueled by its role in supporting the development of a hydrogen economy, wherein hydrogen plays a central role in the global shift towards sustainable and renewable energy solutions.
The Advanced SMR segment is expected to have the highest CAGR during the forecast period
Advanced SMR segment is expected to have the highest CAGR during the forecast period as industries recognize the need for enhanced efficiency, reduced carbon emissions, and improved sustainability in hydrogen production. Advanced SMR systems often involve innovations in catalyst technologies, process optimization, and integration with carbon capture and storage (CCS) solutions. Moreover, these advancements not only contribute to lowering the environmental footprint of hydrogen production but also align with the global push for cleaner energy sources.
Region with largest share:
Asia Pacific region dominated the largest share of the market throughout the projected period. Rapid industrialization, coupled with the region's increasing focus on clean energy solutions, is fueling the demand for hydrogen across diverse sectors. Countries like China, Japan, and South Korea are spearheading the adoption of large-scale SMR systems to meet their ambitious hydrogen production goals. Additionally, the Asia Pacific's strategic positioning in the global supply chain and its commitment to developing a hydrogen economy are driving innovation and technological advancements in SMR processes, making it a pivotal player in shaping the trajectory of the global hydrogen landscape.
Region with highest CAGR:
Asia Pacific region is estimated to witness profitable growth over the extrapolated period. With a focus on sustainable development and reducing carbon emissions, several countries in the region, including China, Japan, and South Korea, have implemented stringent regulations and ambitious targets for hydrogen production. Supportive policies, financial incentives, and subsidies are encouraging industries to invest in SMR technology for large-scale hydrogen production. Furthermore, governments are actively promoting the development of a hydrogen economy, recognizing its role in the transition to cleaner energy.
Key players in the market
Some of the key players in Steam Methane Reforming Hydrogen Generation market include Air Liquide, Air Products & Chemicals, Inc, Ally Hi-Tech Co., Ltd, Ballard Power Systems Inc, Doosan Corporation, Hydrogenics Corporation, Iwatani Corporation, Linde plc, Mahler AGS GmbH, McDermott International, Inc, Mitsubishi Heavy Industries, Ltd, Chevron Corporation, Plug Power Inc, Siemens Energy AG and Taiyyon Nippon Sanso Corporation.
Key Developments:
In September 2022, Raven SR completed its successful trial for the Steam reformer producing hydrogen rich syngas from methane. Its non-combustion and catalyst free design will exceed the typical performance of the SMR process. The technology is set to come into operation by the first half of 2023.
In June 2022, Air Liquide and Siemens Energy created a joint venture dedicated to the production of industrial-scale renewable hydrogen electrolyzers. Air Liquide is one of the leading industries in the hydrogen market, offering several hydrogen production services and SMR technologies.
In April 2022, Wood unveiled its new SMR technology with the capability to achieve 95% of CO2 emissions reduction when compared to the tradition SMR unit. It is applicable to both brownfield and greenfield projects, thereby reducing the overall costs of the process for the operators.
Capacities Covered:
• Large-Scale SMR Systems
• Small-Scale SMR Systems
• Other Capacities
Technologies Covered:
• Advanced SMR
• Conventional SMR
• Other Technologies
Applications Covered:
• Chemicals
• Power generation
• Petroleum refining
• Transportation
• 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 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 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 Steam Methane Reforming Hydrogen Generation Market, By Capacity
5.1 Introduction
5.2 Large-Scale SMR Systems
5.3 Small-Scale SMR Systems
5.4 Other Capacities
6 Global Steam Methane Reforming Hydrogen Generation Market, By Technology
6.1 Introduction
6.2 Advanced SMR
6.3 Conventional SMR
6.4 Other Technologies
7 Global Steam Methane Reforming Hydrogen Generation Market, By Application
7.1 Introduction
7.2 Chemicals
7.3 Power generation
7.4 Petroleum refining
7.5 Transportation
7.6 Other Applications
8 Global Steam Methane Reforming Hydrogen Generation Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Air Liquide
10.2 Air Products & Chemicals, Inc
10.3 Ally Hi-Tech Co., Ltd
10.4 Ballard Power Systems Inc
10.5 Doosan Corporation
10.6 Hydrogenics Corporation
10.7 Iwatani Corporation
10.8 Linde plc
10.9 Mahler AGS GmbH
10.10 McDermott International, Inc
10.11 Mitsubishi Heavy Industries, Ltd
10.12 Chevron Corporation
10.13 Plug Power Inc
10.14 Siemens Energy AG
10.15 Taiyyon Nippon Sanso Corporation
List of Tables
1 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Region (2021-2030) ($MN)
2 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Capacity (2021-2030) ($MN)
3 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Large-Scale SMR Systems (2021-2030) ($MN)
4 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Small-Scale SMR Systems (2021-2030) ($MN)
5 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Capacities (2021-2030) ($MN)
6 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Technology (2021-2030) ($MN)
7 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Advanced SMR (2021-2030) ($MN)
8 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Conventional SMR (2021-2030) ($MN)
9 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Technologies (2021-2030) ($MN)
10 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Application (2021-2030) ($MN)
11 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Chemicals (2021-2030) ($MN)
12 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Power generation (2021-2030) ($MN)
13 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Petroleum refining (2021-2030) ($MN)
14 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Transportation (2021-2030) ($MN)
15 Global Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Applications (2021-2030) ($MN)
16 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Country (2021-2030) ($MN)
17 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Capacity (2021-2030) ($MN)
18 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Large-Scale SMR Systems (2021-2030) ($MN)
19 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Small-Scale SMR Systems (2021-2030) ($MN)
20 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Capacities (2021-2030) ($MN)
21 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Technology (2021-2030) ($MN)
22 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Advanced SMR (2021-2030) ($MN)
23 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Conventional SMR (2021-2030) ($MN)
24 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Technologies (2021-2030) ($MN)
25 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Application (2021-2030) ($MN)
26 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Chemicals (2021-2030) ($MN)
27 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Power generation (2021-2030) ($MN)
28 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Petroleum refining (2021-2030) ($MN)
29 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Transportation (2021-2030) ($MN)
30 North America Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Applications (2021-2030) ($MN)
31 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Country (2021-2030) ($MN)
32 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Capacity (2021-2030) ($MN)
33 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Large-Scale SMR Systems (2021-2030) ($MN)
34 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Small-Scale SMR Systems (2021-2030) ($MN)
35 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Capacities (2021-2030) ($MN)
36 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Technology (2021-2030) ($MN)
37 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Advanced SMR (2021-2030) ($MN)
38 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Conventional SMR (2021-2030) ($MN)
39 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Technologies (2021-2030) ($MN)
40 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Application (2021-2030) ($MN)
41 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Chemicals (2021-2030) ($MN)
42 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Power generation (2021-2030) ($MN)
43 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Petroleum refining (2021-2030) ($MN)
44 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Transportation (2021-2030) ($MN)
45 Europe Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Applications (2021-2030) ($MN)
46 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Capacity (2021-2030) ($MN)
48 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Large-Scale SMR Systems (2021-2030) ($MN)
49 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Small-Scale SMR Systems (2021-2030) ($MN)
50 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Capacities (2021-2030) ($MN)
51 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Technology (2021-2030) ($MN)
52 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Advanced SMR (2021-2030) ($MN)
53 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Conventional SMR (2021-2030) ($MN)
54 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Technologies (2021-2030) ($MN)
55 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Application (2021-2030) ($MN)
56 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Chemicals (2021-2030) ($MN)
57 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Power generation (2021-2030) ($MN)
58 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Petroleum refining (2021-2030) ($MN)
59 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Transportation (2021-2030) ($MN)
60 Asia Pacific Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Applications (2021-2030) ($MN)
61 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Country (2021-2030) ($MN)
62 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Capacity (2021-2030) ($MN)
63 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Large-Scale SMR Systems (2021-2030) ($MN)
64 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Small-Scale SMR Systems (2021-2030) ($MN)
65 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Capacities (2021-2030) ($MN)
66 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Technology (2021-2030) ($MN)
67 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Advanced SMR (2021-2030) ($MN)
68 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Conventional SMR (2021-2030) ($MN)
69 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Technologies (2021-2030) ($MN)
70 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Application (2021-2030) ($MN)
71 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Chemicals (2021-2030) ($MN)
72 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Power generation (2021-2030) ($MN)
73 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Petroleum refining (2021-2030) ($MN)
74 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Transportation (2021-2030) ($MN)
75 South America Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Applications (2021-2030) ($MN)
76 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Capacity (2021-2030) ($MN)
78 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Large-Scale SMR Systems (2021-2030) ($MN)
79 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Small-Scale SMR Systems (2021-2030) ($MN)
80 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Capacities (2021-2030) ($MN)
81 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Technology (2021-2030) ($MN)
82 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Advanced SMR (2021-2030) ($MN)
83 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Conventional SMR (2021-2030) ($MN)
84 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Technologies (2021-2030) ($MN)
85 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Application (2021-2030) ($MN)
86 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Chemicals (2021-2030) ($MN)
87 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Power generation (2021-2030) ($MN)
88 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Petroleum refining (2021-2030) ($MN)
89 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Transportation (2021-2030) ($MN)
90 Middle East & Africa Steam Methane Reforming Hydrogen Generation Market Outlook, By Other Applications (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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