Explosion Proof Equipment Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0208299
  • Format: Electronic (PDF)
  • Number of Pages: 177
  • Author(s): Joshi, Madhavi

Report Overview

The Explosion Proof Equipment Market size was estimated at USD 8.5 billion in 2023 and is projected to reach USD 12.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2024-2030).

Explosion Proof Equipment Market

(Market Size)
$8.5 billion
$12.8 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 6.10%
2023 Market Size USD 8.5 billion
2030 Market Size USD 12.8 billion
Key Players Eaton, Siemens, ABB, Emerson, R. Stahl

Market Summary

The explosion-proof equipment market serves critical safety needs across hazardous environments where flammable gases, vapors, dust, or fibers are present. This market is integral to the manufacturing and construction industries, providing essential protective solutions that prevent ignition sources from triggering catastrophic events. Equipment is rigorously designed and certified to contain any explosion within its housing, safeguarding both personnel and infrastructure. The demand is driven by stringent international safety standards and regulations that mandate the use of such equipment in classified hazardous locations. Key products include lighting systems, junction boxes, control systems, and surveillance equipment, all engineered to mitigate risks. Growth is further supported by continuous industrial expansion and modernization projects globally, particularly in sectors like oil and gas, chemicals, and pharmaceuticals, where operational safety is paramount. The market exhibits a competitive landscape with several established players focusing on innovation and compliance to meet evolving industry requirements.

Key Highlights

The explosion-proof equipment market is characterized by its adherence to rigorous certification standards such as ATEX, IECEx, and NEC, which are essential for global market access and user trust. A significant highlight is the increasing integration of smart technologies and IoT capabilities into explosion-proof devices, enabling real-time monitoring and predictive maintenance in hazardous areas. This technological evolution enhances operational efficiency and safety management. Another key aspect is the critical role of these products in enabling operational continuity in high-risk industries; without them, many essential processes in oil refineries, chemical plants, and mining operations would be untenable. The market also sees a trend towards the development of energy-efficient solutions, such as LED-based explosion-proof lighting, which offer longer lifespans and reduced energy consumption. Additionally, the after-sales services and maintenance support provided by leading companies form a crucial part of the value proposition, ensuring long-term reliability and compliance.

Drivers, Opportunities & Restraints

Primary drivers propelling the explosion-proof equipment market include stringent government regulations and safety standards enforced across global industries to prevent accidents and ensure worker safety. The expansion of industries such as oil and gas, chemicals, and mining into emerging regions creates sustained demand for reliable safety equipment. Increasing awareness regarding industrial safety and the high cost associated with workplace accidents further compel companies to invest in robust explosion-proof solutions. Significant opportunities lie in the development of advanced materials and designs that enhance product durability and performance while reducing overall weight and installation costs. The rising adoption of industrial automation and IoT in hazardous areas presents a fertile ground for innovative, connected explosion-proof devices. However, the market faces restraints including the high initial investment required for certified equipment, which can be a barrier for small and medium enterprises. Additionally, the complexity of certification processes across different regions can slow down product launches and market entry. Economic volatility in key end-use industries may also impact investment cycles and demand fluctuations.

Concentration Insights

The explosion-proof equipment market features a concentrated competitive landscape with a mix of large multinational corporations and specialized players dominating the scene. Companies such as Eaton, Siemens, and ABB hold significant market shares due to their extensive product portfolios, global distribution networks, and strong brand recognition built on reliability and compliance. These industry leaders invest heavily in research and development to introduce innovative products that meet evolving safety standards and customer needs. Regional players also play a crucial role, often focusing on specific product categories or local market requirements, thereby creating a diverse competitive environment. The market concentration is further influenced by strategic activities such as mergers, acquisitions, and partnerships, which allow companies to expand their geographical presence and technological capabilities. Customer loyalty is high, as end-users prioritize safety and tend to stick with proven suppliers, making it challenging for new entrants to gain traction without substantial differentiation or certification backing.

Type Insights

Explosion-proof equipment encompasses a wide range of products designed for various applications in hazardous environments. Major types include explosion-proof lighting systems, which are essential for providing safe illumination in areas with flammable substances; these often utilize LED technology for efficiency and longevity. Explosion-proof junction boxes and cable glands are critical for electrical system safety, containing sparks and preventing ignition. Control and monitoring systems, such as explosion-proof switches, sensors, and controllers, enable safe operation and automation in volatile settings. Communication devices, including explosion-proof telephones and intercoms, facilitate secure personnel communication. Additionally, heating and ventilation systems designed to be explosion-proof ensure environmental control without risk. Each product type must comply with specific certification standards tailored to its application, driving continuous innovation in materials and design to enhance safety, durability, and ease of installation in challenging industrial conditions.

Application Insights

Explosion-proof equipment finds vital applications across numerous industries where explosive atmospheres are a concern. In the oil and gas sector, these products are used on drilling rigs, refineries, and pipelines to prevent ignition from electrical equipment. The chemical and pharmaceutical industries rely on them for safe operation in processing plants where volatile compounds are handled. Mining operations utilize explosion-proof lighting, communication, and machinery controls to mitigate risks in underground and surface environments. Manufacturing facilities, especially those involving paints, coatings, or metalworking, employ such equipment to protect against dust and vapor explosions. The construction industry uses explosion-proof tools and lighting in projects involving hazardous materials or in confined spaces. Additionally, emerging applications in wastewater treatment and energy storage facilities are gaining traction, highlighting the broadening scope of safety requirements across industrial and infrastructure projects globally.

Regional Insights

The demand for explosion-proof equipment varies significantly across regions, influenced by industrial activity, regulatory frameworks, and economic development. North America and Europe are mature markets characterized by strict safety regulations and high adoption rates in established industries such as oil and gas, chemicals, and manufacturing. These regions see continuous demand driven by refurbishment projects and technological upgrades. The Asia-Pacific region is experiencing rapid growth due to expanding industrial sectors, particularly in countries like China and India, where increased investments in infrastructure, energy, and manufacturing are fueling demand. The Middle East and Africa remain key markets owing to their extensive oil and gas operations, requiring robust safety solutions. Latin America shows promising growth opportunities linked to mining and energy projects. Each region has distinct certification requirements, influencing product design and market strategies for manufacturers aiming to operate globally.

Company Insights

Prominent companies in the explosion-proof equipment market include Eaton, Siemens, ABB, Emerson Electric, and Rockwell Automation, among others. These players are renowned for their comprehensive product offerings that cater to diverse industrial needs, from lighting and control systems to enclosures and instrumentation. Their competitive advantage often stems from extensive research and development efforts focused on innovation, compliance with international standards, and enhancing product reliability. Many of these firms also provide value-added services such as system integration, maintenance, and training, which strengthen customer relationships. Regional specialists like R. STAHL and Bartec focus intensely on hazardous area solutions, offering tailored products for niche applications. The strategic focus among leading companies includes expanding their global footprint through acquisitions and partnerships, investing in smart and connected explosion-proof technologies, and maintaining rigorous quality assurance to uphold their market positions and meet evolving customer expectations.

Recent Developments

Recent developments in the explosion-proof equipment market highlight a strong trend towards technological innovation and strategic expansion. Leading companies have been introducing advanced products with IoT integration, allowing for real-time monitoring and data analytics in hazardous environments, thereby enhancing predictive maintenance capabilities. There has been a notable increase in the development of energy-efficient solutions, such as next-generation LED lighting systems that offer superior performance and sustainability. Acquisitions and partnerships are frequent, as firms seek to broaden their product portfolios and geographic reach; for instance, several key players have acquired specialized manufacturers to strengthen their offerings in specific segments like communication devices or control systems. Additionally, compliance with updated international safety standards continues to drive product enhancements and new certifications. Companies are also focusing on improving customer support services, including digital platforms for easier product selection and certification verification, reflecting a broader industry move towards digital transformation and customer-centric approaches.

Report Segmentation

This report on the explosion-proof equipment market provides a detailed analysis segmented by type, application, and region to offer comprehensive insights. The type segmentation includes categories such as explosion-proof lighting, control systems, junction boxes and cable glands, sensing and monitoring devices, communication equipment, and others, each examined for their market dynamics and growth prospects. Application segmentation covers key industries including oil and gas, chemical and pharmaceutical, mining, manufacturing, construction, and other emerging sectors, highlighting specific demand drivers and usage patterns in each. Regional segmentation encompasses North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, analyzing regional regulatory environments, industrial activities, and market opportunities. This structured approach allows stakeholders to identify niche segments, understand regional variations, and make informed decisions based on granular data and trend analysis relevant to their strategic interests.

FAQs

What is explosion-proof equipment? Explosion-proof equipment refers to devices designed to prevent ignition of surrounding hazardous atmospheres by containing any explosion within the equipment housing. These products are certified to meet strict safety standards for use in areas with flammable gases, vapors, or dust.

Which industries use explosion-proof equipment? Key industries utilizing explosion-proof equipment include oil and gas, chemical and pharmaceutical, mining, manufacturing, and construction. These sectors operate in environments where explosive atmospheres are present, necessitating enhanced safety measures.

What are the standards for explosion-proof equipment? Common standards include ATEX in Europe, IECEx for international certification, and NEC in the United States. These regulations ensure equipment is tested and certified to operate safely in specific hazardous conditions.

How does explosion-proof equipment work? This equipment is engineered to withstand internal explosions without allowing flames or hot gases to escape and ignite the external atmosphere. It often features robust construction, flame paths, and cooling mechanisms to contain and dissipate energy.

Why is explosion-proof equipment important? It is critical for preventing catastrophic accidents, protecting human lives, and safeguarding infrastructure in hazardous locations. Compliance with safety regulations also helps companies avoid legal penalties and operational downtime.

Where is demand for explosion-proof equipment growing? Demand is rising significantly in the Asia-Pacific region due to industrial expansion, particularly in energy and manufacturing sectors. The Middle East and North America also show steady demand driven by oil and gas activities.

Citius Research has developed a research report titled “Explosion Proof Equipment Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Explosion Proof Equipment Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Explosion Proof Equipment Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Explosion Proof Equipment Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Explosion Proof Equipment Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Explosion Proof Equipment Market
• Research Methodology
• Executive Summary
• Market Dynamics of Explosion Proof Equipment Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Explosion Proof Equipment Market
• Cost and Gross Margin Analysis of Explosion Proof Equipment Market
• Explosion Proof Equipment Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Explosion Proof Equipment Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Explosion Proof Equipment Market Key Stakeholders

Below are the key stakeholders for the Explosion Proof Equipment Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Explosion Proof Equipment Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Explosion Proof Equipment Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Explosion Proof Equipment Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Explosion Proof Equipment Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Explosion Proof Equipment Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Explosion Proof Equipment Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Explosion Proof Equipment Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Explosion Proof Equipment Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Explosion Proof Equipment Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Explosion Proof Equipment Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Explosion Proof Equipment Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Explosion Proof Equipment Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Explosion Proof Equipment Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Explosion Proof Equipment Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Explosion Proof Equipment Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Explosion Proof Equipment Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Explosion Proof Equipment Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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