Fire Pump 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: CR0207551
  • Format: Electronic (PDF)
  • Number of Pages: 199
  • Author(s): Joshi, Madhavi

Report Overview

The Fire Pump Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2024-2030).

Fire Pump Market

(Market Size)
$3.2 billion
$6 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.50%
2023 Market Size USD 3.2 billion
2030 Market Size USD 6 billion
Key Players Pentair, Grundfos, Xylem, Flowserve, Ebara

Market Summary

The fire pump market is an integral segment within the broader manufacturing and construction industry, dedicated to producing and supplying critical fire protection equipment. These pumps are engineered to enhance water pressure in sprinkler systems and standpipes, ensuring adequate water flow during fire emergencies in residential, commercial, and industrial structures. The market is characterized by stringent regulatory standards and certifications, which govern product design, performance, and installation to guarantee reliability and safety. Key end-users include building contractors, facility managers, and municipal fire services, all of whom prioritize robust and compliant fire safety infrastructure. Technological advancements are progressively integrating smart monitoring and IoT capabilities into fire pump systems, enabling predictive maintenance and real-time performance tracking. The market operates within a global framework, with demand influenced by construction activity levels, urbanization rates, and updates to fire safety codes across different regions. Established manufacturers focus on innovation, durability, and energy efficiency to meet evolving customer expectations and regulatory requirements.

Key Highlights

The fire pump market is distinguished by several critical factors that underscore its importance and trajectory. A primary highlight is the unwavering adherence to international standards such as NFPA 20, UL, and FM Global, which dictate the design, testing, and installation protocols for all systems, ensuring universal reliability and performance. The industry is witnessing a significant shift towards the development of energy-efficient and diesel-engine-driven pumps, catering to the demand for sustainable and backup power solutions in emergency scenarios. Furthermore, the integration of digital technologies, including IoT sensors and cloud-based monitoring platforms, represents a major innovation, allowing for remote diagnostics, performance analytics, and preventive maintenance, thereby reducing downtime and operational risks. The market is also marked by the strategic activities of leading players like Pentair, Grundfos, and Xylem, who engage in continuous product development, portfolio expansion, and strategic acquisitions to strengthen their global market positions and technological offerings.

Drivers, Opportunities & Restraints

Market growth is propelled by several powerful drivers, chief among them being the escalating stringency of government fire safety regulations and building codes worldwide, which mandate the installation of certified fire protection systems in new and renovated structures. Rapid urbanization and the consequent boom in commercial and high-rise residential construction projects significantly amplify the demand for reliable fire pumps. Additionally, increasing awareness and investment in industrial safety protocols, particularly in sectors like oil & gas, manufacturing, and energy, further stimulate market expansion. The market presents substantial opportunities, particularly in the development of solar-powered and energy-efficient pump systems that align with global sustainability trends, as well as the untapped potential in emerging economies where infrastructure development and regulatory enforcement are accelerating. However, the market faces notable restraints, including the high initial investment and maintenance costs associated with advanced fire pump systems, which can deter price-sensitive customers. Economic volatility and fluctuations in construction spending also pose challenges, potentially delaying new projects and equipment procurement.

Concentration Insights

The competitive landscape of the fire pump market is moderately concentrated, featuring a blend of large multinational corporations and specialized regional manufacturers. Dominant players such as Pentair, Grundfos, Xylem, and Eaton hold significant market shares due to their extensive product portfolios, strong brand recognition, robust global distribution networks, and considerable investment in research and development. These industry leaders compete on factors including technological innovation, product reliability, energy efficiency, and compliance with international standards. Alongside these giants, numerous smaller and mid-sized companies carve out niches by offering cost-effective solutions, catering to specific regional requirements, or providing specialized pumps for unique applications. The market concentration is influenced by high barriers to entry, including the need for substantial capital investment, technical expertise, and the lengthy process of obtaining necessary certifications from recognized bodies like UL and FM Global, which consolidates the position of established players.

Type Insights

Fire pumps are categorized into several distinct types, each engineered for specific performance characteristics and application scenarios. The main segments include horizontal split case, vertical turbine, end suction, and multistage multiport pumps. Horizontal split case pumps are widely utilized for their high flow rates and efficiency, making them a prevalent choice for large commercial buildings and industrial facilities. Vertical turbine pumps are specifically designed for applications where the water source is located below ground level, such as wells or underground tanks, and are common in high-rise buildings to maintain pressure across numerous floors. End suction pumps offer a compact and economical solution, often deployed in smaller residential and light commercial settings. Multistage multiport pumps provide versatile pressure management and are frequently integrated into complex fire protection systems that require multiple water discharge points. The selection of an appropriate pump type is a critical decision, heavily influenced by project specifications, water source characteristics, flow and pressure requirements, and overall system design.

Application Insights

The application of fire pumps is diverse, spanning multiple sectors where fire safety is paramount. The primary application is in field erection, which involves the installation of pumps in a dedicated pump house or room as part of a building's core fire protection infrastructure, common in factories, warehouses, and large commercial complexes. Another significant application is in skid mounting, where the pump, driver, controller, and accessories are pre-assembled onto a single skid for easier transportation and installation; this is particularly advantageous for remote locations, temporary sites, or projects requiring rapid deployment. Furthermore, fire pumps are critical components in various industry verticals including the oil & gas sector for protecting refineries and drilling platforms, in power generation plants, and in the manufacturing industry for safeguarding facilities and inventory. Each application demands pumps that meet specific performance, reliability, and regulatory criteria tailored to the environment and potential fire hazards present.

Regional Insights

Geographically, the demand for fire pumps exhibits distinct patterns influenced by regional economic development, construction activity, and regulatory frameworks. North America and Europe represent mature markets characterized by strict enforcement of fire safety codes, a high rate of building renovation and retrofit projects, and early adoption of advanced technologies like smart and connected pump systems. The Asia-Pacific region is identified as the fastest-growing market, driven by massive investments in infrastructure development, rapid urbanization in countries like China and India, and the gradual implementation of stricter safety regulations. The Middle East & Africa region shows steady demand, heavily supported by ongoing construction in the commercial and industrial sectors, particularly in GCC countries. Latin America presents emerging opportunities, though growth can be uneven and is often correlated with economic stability and increased investment in public and industrial safety infrastructure.

Company Insights

The competitive fabric of the fire pump market is woven by several key players who exert considerable influence through innovation, quality, and global reach. Pentair plc is a foremost leader, renowned for its comprehensive range of products under brands like Fairbanks Nijhuis and its focus on energy-efficient solutions. Grundfos Holding A/S is another major contender, recognized for its advanced pump technology, strong commitment to sustainability, and intelligent, connected offerings. Xylem Inc. competes effectively with its robust portfolio of fire pumps designed for a multitude of applications and its emphasis on water technology and infrastructure solutions. Eaton Corporation provides integrated fire pump systems, including controllers and power management solutions, enhancing system reliability. Other significant participants include Armstrong Fluid Technology, Sulzer Ltd., and Patterson Pump Company, each contributing to the market with specialized products and a focus on meeting the nuanced demands of different customer segments and regions.

Recent Developments

The fire pump market is dynamic, with recent developments reflecting a strong industry focus on technological innovation and strategic growth. A prominent trend is the increased integration of IoT and digitalization, where manufacturers are launching smart fire pumps equipped with sensors that provide real-time data on performance parameters, enabling predictive maintenance and reducing the risk of failure. There is a noticeable surge in the development of more energy-efficient and environmentally friendly models, including pumps designed to work with alternative energy sources like solar power, responding to the global push for sustainability. Furthermore, the market has observed strategic mergers and acquisitions as key players seek to expand their geographical footprint and technological capabilities. For instance, acquisitions aimed at enhancing product portfolios in specific pump categories or control systems are common. Companies are also increasingly investing in expanding their production facilities and strengthening their distribution and service networks in high-growth emerging markets to capture new opportunities.

Report Segmentation

This comprehensive market research report on the fire pump industry provides a detailed and structured analysis segmented to offer granular insights. The segmentation is primarily based on type, categorizing the market into horizontal split case, vertical turbine, end suction, and multistage multiport pumps, detailing the adoption trends and specifications of each. The report is further segmented by application, analyzing demand across key areas such as field erection and skid mounting, providing clarity on the installation preferences and requirements for different projects. Power source segmentation differentiates between electric, diesel, and other driver types, highlighting the shifting preferences towards backup and renewable power options. A crucial component of the segmentation is the regional analysis, which breaks down the market into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, examining the unique drivers, challenges, and growth prospects in each geography. This multi-faceted segmentation allows stakeholders to identify specific growth pockets, understand competitive dynamics, and make informed strategic decisions.

FAQs

What are the different types of fire pumps? The primary types of fire pumps include horizontal split case pumps, known for high flow rates; vertical turbine pumps, used for water sources below ground; end suction pumps, which are compact and economical; and multistage multiport pumps, designed for complex systems requiring multiple discharge points.

Who are the key players in the fire pump market? The market is led by established global companies such as Pentair plc, Grundfos Holding A/S, Xylem Inc., and Eaton Corporation. Other significant players include Armstrong Fluid Technology, Sulzer Ltd., and Patterson Pump Company.

What are the main applications of fire pumps? Fire pumps are primarily applied in field erection for permanent building installations and in skid-mounted systems for mobility and ease of installation. They are critical in protecting commercial buildings, industrial facilities, and infrastructure projects across various sectors.

What drives the growth of the fire pump market? Market growth is largely driven by stringent government fire safety regulations, rapid urbanization and construction activity, increasing awareness of industrial safety, and technological advancements in pump systems.

Which region has the highest growth potential in the fire pump market? The Asia-Pacific region is currently identified as having the highest growth potential, fueled by massive infrastructure development, urbanization, and the increasing adoption of modern fire safety standards in countries like China and India.

What are the recent trends in fire pump technology? Recent trends include the integration of IoT for smart monitoring and predictive maintenance, the development of energy-efficient and diesel-driven models for backup power, and a growing focus on environmentally friendly solutions such as solar-powered fire pumps.

Citius Research has developed a research report titled “Fire Pump 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

• Fire Pump 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 Fire Pump 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.

Fire Pump Market Segmentation

Market Segmentation

Regions Covered

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

Fire Pump Market Analysis

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

• Overview of Fire Pump Market
• Research Methodology
• Executive Summary
• Market Dynamics of Fire Pump 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 Fire Pump Market
• Cost and Gross Margin Analysis of Fire Pump Market
• Fire Pump 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 “Fire Pump 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.

Fire Pump Market Key Stakeholders

Below are the key stakeholders for the Fire Pump Market:

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

Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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 Fire Pump 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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