Steel Drawn Wire Market
Steel Drawn Wire Market Forecasts to 2030 - Global Analysis By Product Type (Carbon Steel Drawn Wire, Alloy Steel Drawn Wire, Stainless Steel Drawn Wire and Other Product Types), By Coating Type (Uncoated, Zinc-Coated, Copper-Coated and Other Coatings), Application and By Geography
According to Stratistics MRC, the Global Steel Drawn Wire Market is growing at a CAGR of 5.8% during the forecast period. Steel drawn wire is a wire produced through a manufacturing process known as drawing, wherein steel rods or billets are pulled through a series of dies to reduce their diameter and increase their length. This process results in wire with precise dimensions and uniformity, making it suitable for various applications including construction, automotive, industrial machinery, and other industrial purposes.
According to the American Society of Civil Engineers, to fulfill the repair needs of the country's infrastructure, the U.S. requires over USD 2.6 trillion over the next decade.
Market Dynamics:
Driver:
Rising demand in construction
Steel drawn wire is widely utilized in construction applications for reinforcing concrete structures, such as bridges, buildings, and roads, due to its high strength and durability. As global infrastructure development projects continue to expand, the demand for steel drawn wire increases correspondingly. Additionally, the growth of residential and commercial construction sectors further boosts the demand for steel drawn wire in various construction projects worldwide.
Restraint:
Fluctuations in raw material prices
As steel drawn wire is primarily manufactured from steel, any fluctuations in the prices of steel raw materials, such as iron ore and scrap metal, directly impact production costs. Volatile raw material prices can disrupt profit margins for manufacturers and lead to pricing uncertainties for consumers. Moreover, sudden price increases may deter investment and expansion in the market, hampering overall growth.
Opportunity:
Innovation in coatings and treatments
Advancements in coating technologies, such as galvanization or polymer coatings, enhance the corrosion resistance and durability of steel wire, expanding its applications in outdoor and harsh environments. Additionally, specialized treatments like heat treatments or surface modifications can improve the mechanical properties and performance of steel wire, making it suitable for specific applications in the construction, automotive, and industrial sectors, thus driving market growth.
Threat:
Competition from substitute materials
Competition from substitute materials poses a threat to the steel drawn wire market due to the availability of alternative materials like aluminum, copper, and synthetic fibers. These substitutes offer advantages such as lighter weight, corrosion resistance, and specific properties tailored to certain applications. Additionally, advancements in materials science and manufacturing technologies continually enhance the performance and cost-effectiveness of substitute materials.
Covid-19 Impact:
The COVID-19 pandemic has impacted the steel drawn wire market by disrupting supply chains, leading to production delays and shortages of raw materials. Additionally, reduced construction activities and manufacturing output due to lockdown measures have dampened demand for steel products, including drawn wire. However, as economies recover and infrastructure projects resume, the market is expected to gradually rebound.
The zinc-coating segment is expected to be the largest during the forecast period
The zinc-coating segment is projected to be the largest during the forecast period in the steel drawn wire market. This is due to the widespread use of zinc-coated steel drawn wire in various applications such as fencing, construction, automotive, and industrial manufacturing. Zinc coating provides corrosion resistance, enhancing the durability and longevity of the wire. Additionally, zinc-coated wire is cost-effective and offers superior performance in harsh environments, driving its popularity and dominance in the market.
The electrical & electronics segment is expected to have the highest CAGR during the forecast period
The electrical and electronics segment is anticipated to achieve the highest growth rate in the steel drawn wire market during the forecast period. This growth is attributed to the increasing demand for steel drawn wire in applications such as wiring, cables, and electrical components. Steel drawn wire offers excellent conductivity, strength, and durability, making it suitable for use in various electrical and electronic products, driving the segment's growth in the market.
Region with largest share:
Asia Pacific is poised to maintain its dominance in the steel drawn wire market due to the region's robust manufacturing sector, infrastructure development projects, and increasing construction activities. Moreover, the growing automotive industry and industrialization in countries like China and India drive demand for steel products, including drawn wire. Additionally, favorable government initiatives, investment in infrastructure, and expanding urbanization further contribute to Asia Pacific's leading position in the steel drawn wire market.
Region with highest CAGR:
North America is poised for rapid growth in the steel drawn wire market owing to increasing construction activities, infrastructure development projects, and the automotive industry's demand for steel components. Additionally, the region's robust manufacturing sector and technological advancements in steel production contribute to market growth. Moreover, supportive government policies and investments in infrastructure further bolster the demand for steel drawn wire in North America, positioning the region for significant expansion in the market.
Key players in the market
Some of the key players in Steel Drawn Wire Market include AK Steel Holding Corporation, Ansteel Group, ArcelorMittal S.A., Baowu, Commercial Metals Company, CORE Industrial Partners, Evraz PLC, Gerdau, Hesteel Group, JFE Steel, JSW Steel Limited, Kobe Steel, Ltd., Mechel PAO, Nippon Steel Corporation, Nucor Corporation, POSCO, Rungta Mines, Steel Authority of India Limited, Steel Dynamics, Inc., Tata Steel Limited, Thyssenkrupp AG and Voestalpine AG.
Key Developments:
In December 2023, Nippon Steel Corporation (NSC), Japan’s largest steelmaker and one of the world’s leading steel manufacturers, and United States Steel Corporation (NYSE: X) (""U. S. Steel”), a leading steel producer with competitive advantages in low-cost iron ore, mini mill steelmaking, and best-in-class finishing capabilities, today announced that they have entered into a definitive agreement pursuant to which NSC will acquire U. S. Steel in an all-cash transaction at $55.00 per share, representing an equity value of approximately $14.1 billion plus the assumption of debt, for a total enterprise value of $14.9 billion.
In July 2023, CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced the acquisition of Coining Manufacturing, LLC (“Coining”) and Precision Machine Products, Inc. (“PMP”, and together with Coining, the “Company”), a provider of specialty stamping and machining services, by CORE portfolio company GEM Manufacturing (“GEM”). CORE previously acquired GEM, a provider of precision deep drawn metal components and mechanical assemblies, in February 2023.
In December 2022, Rungta Mines, a player in steel manufacturing and mining, has commissioned Rungta steel wire rods mills at Chaliyama steel plant in Jharkhand. The commissioning of the wire rod mill will help Rungta Mines to expand the portfolio of products and serve their customers with a wide array of solutions.
Product Types Covered:
• Carbon Steel Drawn Wire
• Alloy Steel Drawn Wire
• Stainless Steel Drawn Wire
• Other Product Types
Coating Types Covered:
• Uncoated
• Zinc-Coated
• Copper-Coated
• Other Coatings
Applications Covered:
• Agriculture
• Automotive
• Construction
• Electrical & Electronics
• Furniture & Appliance
• Industrial Machinery
• 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 Product 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 Steel Drawn Wire Market, By Product Type
5.1 Introduction
5.2 Carbon Steel Drawn Wire
5.3 Alloy Steel Drawn Wire
5.4 Stainless Steel Drawn Wire
5.5 Other Product Types
6 Global Steel Drawn Wire Market, By Coating Type
6.1 Introduction
6.2 Uncoated
6.3 Zinc-Coated
6.4 Copper-Coated
6.5 Other Coatings
7 Global Steel Drawn Wire Market, By Application
7.1 Introduction
7.2 Agriculture
7.3 Automotive
7.4 Construction
7.5 Electrical & Electronics
7.6 Furniture & Appliance
7.7 Industrial Machinery
7.8 Other Applications
8 Global Steel Drawn Wire 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 AK Steel Holding Corporation
10.2 Ansteel Group
10.3 ArcelorMittal S.A.
10.4 Baowu
10.5 Commercial Metals Company
10.6 CORE Industrial Partners
10.7 Evraz PLC
10.8 Gerdau
10.9 Hesteel Group
10.10 JFE Steel
10.11 JSW Steel Limited
10.12 Kobe Steel, Ltd.
10.13 Mechel PAO
10.14 Nippon Steel Corporation
10.15 Nucor Corporation
10.16 POSCO
10.17 Rungta Mines
10.18 Steel Authority of India Limited
10.19 Steel Dynamics, Inc.
10.20 Tata Steel Limited
10.21 Thyssenkrupp AG
10.22 Voestalpine AG
List of Tables
1 Global Steel Drawn Wire Market Outlook, By Region (2021-2030) ($MN)
2 Global Steel Drawn Wire Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Steel Drawn Wire Market Outlook, By Carbon Steel Drawn Wire (2021-2030) ($MN)
4 Global Steel Drawn Wire Market Outlook, By Alloy Steel Drawn Wire (2021-2030) ($MN)
5 Global Steel Drawn Wire Market Outlook, By Stainless Steel Drawn Wire (2021-2030) ($MN)
6 Global Steel Drawn Wire Market Outlook, By Other Product Types (2021-2030) ($MN)
7 Global Steel Drawn Wire Market Outlook, By Coating Type (2021-2030) ($MN)
8 Global Steel Drawn Wire Market Outlook, By Uncoated (2021-2030) ($MN)
9 Global Steel Drawn Wire Market Outlook, By Zinc-Coated (2021-2030) ($MN)
10 Global Steel Drawn Wire Market Outlook, By Copper-Coated (2021-2030) ($MN)
11 Global Steel Drawn Wire Market Outlook, By Other Coatings (2021-2030) ($MN)
12 Global Steel Drawn Wire Market Outlook, By Application (2021-2030) ($MN)
13 Global Steel Drawn Wire Market Outlook, By Agriculture (2021-2030) ($MN)
14 Global Steel Drawn Wire Market Outlook, By Automotive (2021-2030) ($MN)
15 Global Steel Drawn Wire Market Outlook, By Construction (2021-2030) ($MN)
16 Global Steel Drawn Wire Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
17 Global Steel Drawn Wire Market Outlook, By Furniture & Appliance (2021-2030) ($MN)
18 Global Steel Drawn Wire Market Outlook, By Industrial Machinery (2021-2030) ($MN)
19 Global Steel Drawn Wire Market Outlook, By Other Applications (2021-2030) ($MN)
20 North America Steel Drawn Wire Market Outlook, By Country (2021-2030) ($MN)
21 North America Steel Drawn Wire Market Outlook, By Product Type (2021-2030) ($MN)
22 North America Steel Drawn Wire Market Outlook, By Carbon Steel Drawn Wire (2021-2030) ($MN)
23 North America Steel Drawn Wire Market Outlook, By Alloy Steel Drawn Wire (2021-2030) ($MN)
24 North America Steel Drawn Wire Market Outlook, By Stainless Steel Drawn Wire (2021-2030) ($MN)
25 North America Steel Drawn Wire Market Outlook, By Other Product Types (2021-2030) ($MN)
26 North America Steel Drawn Wire Market Outlook, By Coating Type (2021-2030) ($MN)
27 North America Steel Drawn Wire Market Outlook, By Uncoated (2021-2030) ($MN)
28 North America Steel Drawn Wire Market Outlook, By Zinc-Coated (2021-2030) ($MN)
29 North America Steel Drawn Wire Market Outlook, By Copper-Coated (2021-2030) ($MN)
30 North America Steel Drawn Wire Market Outlook, By Other Coatings (2021-2030) ($MN)
31 North America Steel Drawn Wire Market Outlook, By Application (2021-2030) ($MN)
32 North America Steel Drawn Wire Market Outlook, By Agriculture (2021-2030) ($MN)
33 North America Steel Drawn Wire Market Outlook, By Automotive (2021-2030) ($MN)
34 North America Steel Drawn Wire Market Outlook, By Construction (2021-2030) ($MN)
35 North America Steel Drawn Wire Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
36 North America Steel Drawn Wire Market Outlook, By Furniture & Appliance (2021-2030) ($MN)
37 North America Steel Drawn Wire Market Outlook, By Industrial Machinery (2021-2030) ($MN)
38 North America Steel Drawn Wire Market Outlook, By Other Applications (2021-2030) ($MN)
39 Europe Steel Drawn Wire Market Outlook, By Country (2021-2030) ($MN)
40 Europe Steel Drawn Wire Market Outlook, By Product Type (2021-2030) ($MN)
41 Europe Steel Drawn Wire Market Outlook, By Carbon Steel Drawn Wire (2021-2030) ($MN)
42 Europe Steel Drawn Wire Market Outlook, By Alloy Steel Drawn Wire (2021-2030) ($MN)
43 Europe Steel Drawn Wire Market Outlook, By Stainless Steel Drawn Wire (2021-2030) ($MN)
44 Europe Steel Drawn Wire Market Outlook, By Other Product Types (2021-2030) ($MN)
45 Europe Steel Drawn Wire Market Outlook, By Coating Type (2021-2030) ($MN)
46 Europe Steel Drawn Wire Market Outlook, By Uncoated (2021-2030) ($MN)
47 Europe Steel Drawn Wire Market Outlook, By Zinc-Coated (2021-2030) ($MN)
48 Europe Steel Drawn Wire Market Outlook, By Copper-Coated (2021-2030) ($MN)
49 Europe Steel Drawn Wire Market Outlook, By Other Coatings (2021-2030) ($MN)
50 Europe Steel Drawn Wire Market Outlook, By Application (2021-2030) ($MN)
51 Europe Steel Drawn Wire Market Outlook, By Agriculture (2021-2030) ($MN)
52 Europe Steel Drawn Wire Market Outlook, By Automotive (2021-2030) ($MN)
53 Europe Steel Drawn Wire Market Outlook, By Construction (2021-2030) ($MN)
54 Europe Steel Drawn Wire Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
55 Europe Steel Drawn Wire Market Outlook, By Furniture & Appliance (2021-2030) ($MN)
56 Europe Steel Drawn Wire Market Outlook, By Industrial Machinery (2021-2030) ($MN)
57 Europe Steel Drawn Wire Market Outlook, By Other Applications (2021-2030) ($MN)
58 Asia Pacific Steel Drawn Wire Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Steel Drawn Wire Market Outlook, By Product Type (2021-2030) ($MN)
60 Asia Pacific Steel Drawn Wire Market Outlook, By Carbon Steel Drawn Wire (2021-2030) ($MN)
61 Asia Pacific Steel Drawn Wire Market Outlook, By Alloy Steel Drawn Wire (2021-2030) ($MN)
62 Asia Pacific Steel Drawn Wire Market Outlook, By Stainless Steel Drawn Wire (2021-2030) ($MN)
63 Asia Pacific Steel Drawn Wire Market Outlook, By Other Product Types (2021-2030) ($MN)
64 Asia Pacific Steel Drawn Wire Market Outlook, By Coating Type (2021-2030) ($MN)
65 Asia Pacific Steel Drawn Wire Market Outlook, By Uncoated (2021-2030) ($MN)
66 Asia Pacific Steel Drawn Wire Market Outlook, By Zinc-Coated (2021-2030) ($MN)
67 Asia Pacific Steel Drawn Wire Market Outlook, By Copper-Coated (2021-2030) ($MN)
68 Asia Pacific Steel Drawn Wire Market Outlook, By Other Coatings (2021-2030) ($MN)
69 Asia Pacific Steel Drawn Wire Market Outlook, By Application (2021-2030) ($MN)
70 Asia Pacific Steel Drawn Wire Market Outlook, By Agriculture (2021-2030) ($MN)
71 Asia Pacific Steel Drawn Wire Market Outlook, By Automotive (2021-2030) ($MN)
72 Asia Pacific Steel Drawn Wire Market Outlook, By Construction (2021-2030) ($MN)
73 Asia Pacific Steel Drawn Wire Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
74 Asia Pacific Steel Drawn Wire Market Outlook, By Furniture & Appliance (2021-2030) ($MN)
75 Asia Pacific Steel Drawn Wire Market Outlook, By Industrial Machinery (2021-2030) ($MN)
76 Asia Pacific Steel Drawn Wire Market Outlook, By Other Applications (2021-2030) ($MN)
77 South America Steel Drawn Wire Market Outlook, By Country (2021-2030) ($MN)
78 South America Steel Drawn Wire Market Outlook, By Product Type (2021-2030) ($MN)
79 South America Steel Drawn Wire Market Outlook, By Carbon Steel Drawn Wire (2021-2030) ($MN)
80 South America Steel Drawn Wire Market Outlook, By Alloy Steel Drawn Wire (2021-2030) ($MN)
81 South America Steel Drawn Wire Market Outlook, By Stainless Steel Drawn Wire (2021-2030) ($MN)
82 South America Steel Drawn Wire Market Outlook, By Other Product Types (2021-2030) ($MN)
83 South America Steel Drawn Wire Market Outlook, By Coating Type (2021-2030) ($MN)
84 South America Steel Drawn Wire Market Outlook, By Uncoated (2021-2030) ($MN)
85 South America Steel Drawn Wire Market Outlook, By Zinc-Coated (2021-2030) ($MN)
86 South America Steel Drawn Wire Market Outlook, By Copper-Coated (2021-2030) ($MN)
87 South America Steel Drawn Wire Market Outlook, By Other Coatings (2021-2030) ($MN)
88 South America Steel Drawn Wire Market Outlook, By Application (2021-2030) ($MN)
89 South America Steel Drawn Wire Market Outlook, By Agriculture (2021-2030) ($MN)
90 South America Steel Drawn Wire Market Outlook, By Automotive (2021-2030) ($MN)
91 South America Steel Drawn Wire Market Outlook, By Construction (2021-2030) ($MN)
92 South America Steel Drawn Wire Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
93 South America Steel Drawn Wire Market Outlook, By Furniture & Appliance (2021-2030) ($MN)
94 South America Steel Drawn Wire Market Outlook, By Industrial Machinery (2021-2030) ($MN)
95 South America Steel Drawn Wire Market Outlook, By Other Applications (2021-2030) ($MN)
96 Middle East & Africa Steel Drawn Wire Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Steel Drawn Wire Market Outlook, By Product Type (2021-2030) ($MN)
98 Middle East & Africa Steel Drawn Wire Market Outlook, By Carbon Steel Drawn Wire (2021-2030) ($MN)
99 Middle East & Africa Steel Drawn Wire Market Outlook, By Alloy Steel Drawn Wire (2021-2030) ($MN)
100 Middle East & Africa Steel Drawn Wire Market Outlook, By Stainless Steel Drawn Wire (2021-2030) ($MN)
101 Middle East & Africa Steel Drawn Wire Market Outlook, By Other Product Types (2021-2030) ($MN)
102 Middle East & Africa Steel Drawn Wire Market Outlook, By Coating Type (2021-2030) ($MN)
103 Middle East & Africa Steel Drawn Wire Market Outlook, By Uncoated (2021-2030) ($MN)
104 Middle East & Africa Steel Drawn Wire Market Outlook, By Zinc-Coated (2021-2030) ($MN)
105 Middle East & Africa Steel Drawn Wire Market Outlook, By Copper-Coated (2021-2030) ($MN)
106 Middle East & Africa Steel Drawn Wire Market Outlook, By Other Coatings (2021-2030) ($MN)
107 Middle East & Africa Steel Drawn Wire Market Outlook, By Application (2021-2030) ($MN)
108 Middle East & Africa Steel Drawn Wire Market Outlook, By Agriculture (2021-2030) ($MN)
109 Middle East & Africa Steel Drawn Wire Market Outlook, By Automotive (2021-2030) ($MN)
110 Middle East & Africa Steel Drawn Wire Market Outlook, By Construction (2021-2030) ($MN)
111 Middle East & Africa Steel Drawn Wire Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
112 Middle East & Africa Steel Drawn Wire Market Outlook, By Furniture & Appliance (2021-2030) ($MN)
113 Middle East & Africa Steel Drawn Wire Market Outlook, By Industrial Machinery (2021-2030) ($MN)
114 Middle East & Africa Steel Drawn Wire 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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