Fire Sprinkler 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: CR0208315
  • Format: Electronic (PDF)
  • Number of Pages: 204
  • Author(s): Joshi, Madhavi

Report Overview

The Fire Sprinkler 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).

Fire Sprinkler 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 Tyco, Viking Group, Reliable Automatic Sprinkler, Victaulic, Uponor

Market Summary

The fire sprinkler market is a critical segment within the manufacturing and construction industries, primarily focused on producing and installing automated fire suppression systems. These systems are essential for safeguarding commercial, industrial, and residential properties by controlling or extinguishing fires in their early stages. The market is characterized by a robust supply chain involving raw material suppliers, component manufacturers, system integrators, and installation service providers. Key products include wet pipe, dry pipe, pre-action, and deluge sprinkler systems, each designed for specific environmental conditions and fire risks. The industry adheres to stringent safety standards and regulations set by organizations which drive consistent demand. Technological advancements are leading to the development of more efficient and intelligent sprinkler systems that integrate with building management systems for enhanced monitoring and response. The market is global, with significant activity in regions with strong construction growth and rigorous fire safety mandates.

Key Highlights

The fire sprinkler market is distinguished by its non-cyclical nature, as demand is sustained by mandatory safety regulations across new constructions and retrofitting projects in existing buildings. A key highlight is the increasing integration of Internet of Things technology, enabling smart sprinklers that provide real-time data on system status, water flow, and potential malfunctions. Another significant aspect is the critical role of third-party certification and listing services, which ensure product reliability and compliance, making them a prerequisite for market entry. The industry is also witnessing a trend towards environmentally friendly fire suppression solutions that use water more efficiently or incorporate sustainable materials. Major players like Tyco International, Minimax, and Viking Group invest heavily in research and development to create innovative products that offer better performance and easier installation. The market is also supported by a strong network of distributors and contractors who provide essential installation and maintenance services.

Drivers, Opportunities & Restraints

The primary driver for the fire sprinkler market is the stringent enforcement of building and fire safety codes by governments and regulatory bodies worldwide. These codes often mandate the installation of automatic sprinkler systems in new commercial, industrial, and multi-family residential buildings, creating a steady stream of demand. The growing awareness of property and life safety among business owners and the general public further propels market growth. A significant opportunity lies in the retrofitting of existing buildings, a vast market segment as older structures are upgraded to meet modern safety standards. The emergence of smart cities and intelligent building systems presents another avenue for growth, integrating advanced fire suppression with building automation. However, the market faces restraints, including the high initial installation and maintenance costs, which can be a barrier for some property owners. Economic downturns can also delay construction projects, temporarily reducing demand. Furthermore, the complexity of installation in certain existing structures can pose technical challenges.

Concentration Insights

The competitive landscape of the global fire sprinkler market is moderately concentrated, with a mix of large multinational corporations and smaller regional players. Leading companies such as Johnson Controls, Carrier Global Corporation, and API Group Inc. hold significant market share due to their extensive product portfolios, strong brand recognition, and global distribution networks. These giants often engage in strategic mergers and acquisitions to expand their geographical presence and technological capabilities. The market also features specialized manufacturers like Viking Group and Grundfos, who are renowned for their expertise in specific types of sprinkler systems or components. The concentration of manufacturing and key players is highest in North America and Europe, where safety regulations are most stringent. However, the market in the Asia-Pacific region is more fragmented, with numerous local manufacturers catering to domestic demand, though international players are increasingly establishing a presence there to capitalize on rapid urbanization.

Type Insights

Fire sprinkler systems are categorized into several types based on their operational mechanism and the environment they are designed to protect. Wet pipe systems are the most common and widely used type, containing water under pressure at all times within the pipes; they are simple, reliable, and cost-effective for buildings where temperatures remain above freezing. Dry pipe systems are filled with pressurized air or nitrogen, which holds back the water until a fire causes a sprinkler to activate; these are essential for unheated areas like parking garages or warehouses where pipes could freeze. Pre-action systems combine elements of both, requiring a two-step process to discharge water, making them ideal for water-sensitive environments like data centers or museums. Deluge systems feature open sprinklers and are used in high-hazard areas where rapid application of large volumes of water is necessary, such as in aircraft hangars or industrial plants handling flammable liquids. Each type is engineered to address specific fire risks and environmental conditions.

Application Insights

The application of fire sprinkler systems spans across various sectors, each with unique requirements and standards. The commercial segment is a major consumer, encompassing office buildings, retail spaces, hotels, and hospitals, where protecting human life and high-value assets is paramount. In the industrial sector, which includes manufacturing plants, warehouses, and power generation facilities, sprinkler systems are crucial for safeguarding expensive machinery, inventory, and preventing business interruption. The residential application is growing steadily, driven by building codes that increasingly require sprinklers in new multi-family dwellings and high-rise apartments to enhance occupant safety. Furthermore, specialized applications exist for high-challenge hazards like those found in the energy sector, historical buildings, and transportation hubs such as airports and tunnels. The design and density of sprinkler systems are meticulously tailored to the specific fire load and layout of each application.

Regional Insights

The demand for fire sprinkler systems exhibits distinct regional patterns influenced by local construction activity, economic development, and the stringency of fire safety regulations. North America represents a mature and highly regulated market, with the United States and Canada having some of the most comprehensive fire codes, driving consistent demand for both new installations and retrofits. Europe follows a similar pattern, with strong regulations and a focus on upgrading historical buildings with modern fire protection systems. The Asia-Pacific region is identified as the fastest-growing market, fueled by rapid urbanization, massive infrastructure development, and the gradual strengthening of fire safety standards in countries like China, India, and Southeast Asian nations. The Middle East and Africa show promising growth, particularly in the Gulf Cooperation Council countries, where ambitious construction projects and a focus on building safety are creating new opportunities. Latin America's market growth is more variable, tied to economic stability and local regulatory enforcement.

Company Insights

The fire sprinkler market is served by a number of prominent companies that lead in innovation, manufacturing, and system integration. Johnson Controls, through its brands like Tyco and SimplexGrinnell, is a global leader offering a comprehensive range of fire detection and suppression products. Carrier Global Corporation, following its acquisition of Chubb Fire & Security, is another key player with a strong international footprint. API Group Inc. is a major manufacturer of sprinklers and system components. Viking Group is renowned for its innovative and reliable sprinkler valves and systems, while Minimax is a significant player, especially in the European market. Grundfos is a leader in providing pumps essential for fire suppression systems. These companies compete on factors such as product reliability, technological innovation, compliance with certifications, and the strength of their distribution and service networks. They also engage in continuous research to develop more efficient and effective fire safety solutions.

Recent Developments

The fire sprinkler industry is continuously evolving with recent developments focused on technological integration and sustainability. A prominent trend is the development of smart sprinklers equipped with sensors and connectivity features, allowing for integration into broader building Internet of Things ecosystems for predictive maintenance and real-time alerts. Companies are also investing in advanced materials to create more corrosion-resistant and durable sprinkler heads and piping, extending system lifespan and reliability. There is a growing emphasis on water mist systems, which use less water and can be effective for a wider range of fire types, appealing to environmentally conscious projects. Furthermore, industry leaders have been active in mergers and acquisitions to consolidate market position and expand their technological portfolios. Recent regulatory updates in various countries, aiming to enhance safety in residential buildings, have also spurred new product development and market strategies.

Report Segmentation

This market research report on the fire sprinkler market provides a detailed and structured analysis segmented to offer granular insights. The segmentation is primarily based on type, categorizing the market into wet pipe, dry pipe, pre-action, deluge, and other specialty systems to analyze the demand and growth prospects for each. The report is further segmented by application, providing a thorough examination of adoption across commercial, industrial, residential, and other niche sectors. A crucial component of the segmentation is the regional analysis, which breaks down the market size and forecast for key geographical areas including North America, Europe, Asia-Pacific, and the rest of the world. Additionally, the report includes a competitive landscape section that profiles major players, discussing their market share, product offerings, and strategic initiatives. This multi-dimensional segmentation allows stakeholders to identify specific growth pockets and tailor their strategies accordingly.

FAQs

What are the different types of fire sprinkler systems? The main types are wet pipe, dry pipe, pre-action, and deluge systems. Wet pipe systems are the most common, filled with water. Dry pipe systems use pressurized air to prevent water from freezing in pipes. Pre-action systems require a two-step activation process, and deluge systems release large volumes of water simultaneously for high-hazard areas.

Which companies are the leaders in the fire sprinkler market? Key global leaders include Johnson Controls (Tyco), Carrier Global Corporation, API Group Inc., Viking Group, and Minimax. These companies are recognized for their extensive product portfolios, technological innovation, and strong international distribution networks.

How does a fire sprinkler system work? Each sprinkler head is activated independently by heat. A heat-sensitive element, typically a glass bulb containing a liquid that expands, shatters when a specific temperature is reached. This opens that specific sprinkler head, releasing water directly onto the fire below.

What is the cost of installing a fire sprinkler system? Installation costs are highly variable and depend on factors like the size and type of building, the system type chosen, the complexity of the installation, and local labor rates. Costs are typically calculated per square foot and can be significantly higher for retrofits in existing buildings compared to new constructions.

Are fire sprinklers required in all buildings? Requirements are dictated by local building codes and regulations, which vary by jurisdiction. Generally, sprinklers are mandated in new commercial buildings, high-rise residential buildings, schools, hospitals, and warehouses. Requirements for single-family homes are less common but are becoming more frequent.

What are the benefits of a pre-action fire sprinkler system? Pre-action systems provide an extra layer of protection against accidental water discharge. They are ideal for water-sensitive environments like data centers, libraries, and museums because they require both a fire detection signal and the activation of a specific sprinkler head before water is released into the pipes.

Citius Research has developed a research report titled “Fire Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler Market Segmentation

Market Segmentation

Regions Covered

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

Fire Sprinkler Market Analysis

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

• Overview of Fire Sprinkler Market
• Research Methodology
• Executive Summary
• Market Dynamics of Fire Sprinkler 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 Sprinkler Market
• Cost and Gross Margin Analysis of Fire Sprinkler Market
• Fire Sprinkler 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 Sprinkler 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 Sprinkler Market Key Stakeholders

Below are the key stakeholders for the Fire Sprinkler Market:

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

Fire Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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 Sprinkler 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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