Glow Plugs 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: CR0185875
  • Format: Electronic (PDF)
  • Number of Pages: 195
  • Author(s): Joshi, Madhavi

Report Overview

The Glow Plugs Market size was estimated at USD 1.1 billion in 2023 and is projected to reach USD 1.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2024-2030).

Glow Plugs Market

(Market Size)
$1.1 billion
$1.8 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 6.70%
2023 Market Size USD 1.1 billion
2030 Market Size USD 1.8 billion
Key Players Bosch, NGK, Denso, Federal-Mogul, Beru

Market Summary

The glow plugs market is an integral segment within the automotive and transportation industry, primarily serving diesel engines. Glow plugs are essential components that preheat combustion chambers to facilitate reliable cold starts, ensuring optimal engine performance and reduced emissions. The market is characterized by steady demand driven by the persistent use of diesel engines in various vehicle types, including passenger cars, light commercial vehicles, and heavy-duty trucks. Technological advancements have led to the development of more efficient and durable glow plug variants, such as ceramic and metal types, which offer faster heating times and longer service life. The market is influenced by stringent global emission regulations, which mandate the use of advanced engine components to minimize pollutants. Key regions contributing to market dynamics include Europe, Asia Pacific, and North America, each with distinct automotive landscapes and regulatory frameworks. The competitive environment features established automotive parts manufacturers focusing on innovation and strategic collaborations to enhance their market presence.

Key Highlights

The glow plugs market showcases several key highlights that underline its significance and evolution. A prominent trend is the shift towards advanced materials, with ceramic glow plugs gaining traction due to their superior thermal properties and rapid heating capabilities compared to traditional metal glow plugs. Another highlight is the integration of smart glow plug systems equipped with sensors for real-time monitoring and diagnostics, aligning with the broader automotive trend towards electrification and connectivity. The market is also witnessing increased investment in research and development to improve energy efficiency and compatibility with modern engine designs. Furthermore, the aftermarket segment represents a substantial revenue stream, driven by the need for replacement parts due to wear and tear. Leading companies such as BorgWarner, NGK Spark Plug, and Robert Bosch are actively engaged in product launches and technological enhancements to cater to evolving customer requirements and regulatory standards.

Drivers, Opportunities & Restraints

The glow plugs market is propelled by several drivers, including the ongoing demand for diesel engines in commercial and industrial applications, particularly in emerging economies where infrastructure development fuels vehicle sales. Strict emission norms worldwide, such as Euro 6 and EPA standards, act as significant drivers by necessitating efficient engine components that reduce harmful exhaust emissions. Opportunities in the market arise from the expansion of the automotive industry in regions like Asia Pacific and Latin America, coupled with the growing adoption of hybrid diesel-electric vehicles which require specialized glow plugs for cold start assistance. Additionally, the rise of remanufactured and eco-friendly glow plugs presents new avenues for growth. However, the market faces restraints such as the increasing popularity of gasoline engines and electric vehicles, which do not require glow plugs, potentially limiting long-term demand. High costs associated with advanced glow plug technologies and economic fluctuations affecting automotive production also pose challenges to market expansion.

Concentration Insights

The concentration of the glow plugs market is characterized by a mix of global players and regional specialists, with a notable presence in technologically advanced regions. Europe holds a significant share due to its strong automotive manufacturing base and early adoption of emission control technologies, with countries like Germany and France being key contributors. Asia Pacific is another concentrated region, driven by high vehicle production in China, India, and Japan, where diesel engines are widely used in commercial vehicles. North America maintains a steady market presence, supported by demand from the trucking and agricultural sectors. The competitive landscape is consolidated among major companies such as Denso, Valeo, and Federal-Mogul, which leverage extensive distribution networks and technical expertise to dominate market segments. These players focus on strategic mergers, acquisitions, and partnerships to strengthen their global footprint and cater to diverse customer needs across different geographical concentrations.

Type Insights

In the glow plugs market, products are primarily categorized into metal and ceramic types, each offering distinct advantages. Metal glow plugs, traditionally made from alloys such as iron and nickel, are known for their durability and cost-effectiveness, making them suitable for standard diesel engines in various applications. Ceramic glow plugs represent advanced technology, featuring materials like silicon nitride that provide faster heating rates and higher temperature resistance, which is critical for modern high-performance and low-emission engines. The ceramic segment is gaining momentum due to its ability to meet stringent regulatory requirements and enhance fuel efficiency. Additionally, there are variations in voltage specifications, with 6V, 11V, and 24V glow plugs designed for different vehicle systems and electrical architectures. Manufacturers continue to innovate in both types to improve reliability, reduce energy consumption, and extend product lifespan, addressing the evolving needs of the automotive industry.

Application Insights

Glow plugs find applications across multiple vehicle segments within the automotive and transportation sector. The primary application is in passenger cars equipped with diesel engines, where they ensure reliable ignition in cold conditions, enhancing driver convenience and vehicle performance. Light commercial vehicles, including vans and pickup trucks, represent another significant application area, particularly in regions with temperate climates where cold starts are challenging. Heavy-duty commercial vehicles such as trucks and buses rely heavily on glow plugs for operational efficiency, given their extensive use in logistics and public transportation. Beyond on-road vehicles, glow plugs are used in off-road equipment like agricultural machinery, construction vehicles, and marine engines, where diesel power is prevalent. Each application demands specific glow plug characteristics, such as heating time and durability, driving manufacturers to develop tailored solutions that meet diverse operational requirements and environmental conditions.

Regional Insights

Regionally, the glow plugs market exhibits varied dynamics influenced by automotive production, regulatory policies, and economic factors. Europe is a leading region, characterized by a high concentration of diesel vehicle manufacturers and strict emission standards that drive demand for advanced glow plugs. Countries like Germany, the UK, and France are major contributors, with a strong emphasis on technological innovation. Asia Pacific follows closely, with rapid growth in automotive sectors across China, India, and Southeast Asia, where increasing urbanization and industrialization boost commercial vehicle sales. North America maintains a stable market, supported by robust demand from the transportation and agricultural industries, particularly in the United States and Canada. Other regions such as Latin America and the Middle East & Africa show emerging potential, driven by infrastructure development and growing automotive adoption, though they face challenges related to economic volatility and varying regulatory frameworks.

Company Insights

The glow plugs market features several key companies that play pivotal roles in shaping industry trends and competition. BorgWarner is a prominent player, known for its innovative thermal management solutions and extensive product portfolio tailored for global markets. NGK Spark Plug Co. leverages its expertise in ignition systems to offer high-performance glow plugs with a focus on reliability and efficiency. Robert Bosch GmbH stands out for its advanced automotive technologies and strong research capabilities, providing glow plugs that integrate seamlessly with modern engine systems. Other significant participants include Denso Corporation, Valeo SA, and Federal-Mogul LLC, each contributing through specialized products and strategic initiatives. These companies emphasize continuous improvement, customer collaboration, and sustainability, often engaging in partnerships with automotive OEMs to develop customized solutions that address specific market needs and enhance overall vehicle performance.

Recent Developments

Recent developments in the glow plugs market reflect ongoing innovation and strategic movements among industry leaders. Companies have introduced new products with enhanced features, such as ultra-fast heating ceramic glow plugs that reduce ignition time and improve fuel economy, aligning with tighter emission standards. There has been a focus on expanding production capacities in high-growth regions like Asia Pacific to meet rising demand from automotive manufacturers. Collaborations and joint ventures between glow plug suppliers and engine developers have increased, aimed at co-creating integrated systems for next-generation vehicles. Additionally, advancements in materials science have led to more durable and energy-efficient designs, reducing maintenance needs and total cost of ownership for end-users. Market players are also investing in digital tools and IoT-enabled glow plugs for predictive maintenance, showcasing the industry's adaptation to smart automotive trends.

Report Segmentation

This market research report on the glow plugs market provides a detailed segmentation to offer comprehensive insights into various aspects of the industry. The segmentation is based on type, categorizing products into metal and ceramic glow plugs, each analyzed for their market share and growth potential. Application-wise, the report covers passenger cars, light commercial vehicles, heavy commercial vehicles, and other off-road applications, highlighting demand patterns and technological requirements across these segments. Geographically, the market is divided into key regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with country-level analysis to identify regional opportunities and challenges. The report also includes segmentation by sales channel, distinguishing between OEM and aftermarket distributions, to understand supply chain dynamics and customer preferences. This structured approach enables stakeholders to gain actionable insights and make informed decisions tailored to specific market segments.

FAQs

What are glow plugs used for? Glow plugs are heating devices used in diesel engines to preheat the combustion chamber, ensuring reliable ignition during cold starts and improving overall engine performance and emission control.

How long do glow plugs typically last? The lifespan of glow plugs varies based on type and usage, but generally, they can last between 60,000 to 100,000 miles, with ceramic variants often offering longer durability due to advanced materials.

Can faulty glow plugs affect fuel efficiency? Yes, malfunctioning glow plugs can lead to incomplete combustion, resulting in increased fuel consumption, higher emissions, and potential engine damage if not addressed promptly.

What is the difference between metal and ceramic glow plugs? Metal glow plugs are traditional, cost-effective, and durable, while ceramic glow plugs heat faster, withstand higher temperatures, and are more efficient, making them suitable for modern emission-compliant engines.

Are glow plugs necessary for all diesel engines? Most diesel engines require glow plugs for cold starting, though some modern systems may use alternative methods; however, they remain essential for ensuring reliable operation in varying climatic conditions.

How do I know if my glow plugs need replacement? Common signs include difficulty starting the engine in cold weather, rough idling, white smoke from the exhaust, and illuminated warning lights on the dashboard, indicating potential glow plug failure.

Citius Research has developed a research report titled “Glow Plugs 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

• Glow Plugs 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 Glow Plugs 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.

Glow Plugs Market Segmentation

Market Segmentation

Regions Covered

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

Glow Plugs Market Analysis

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

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

Glow Plugs Market Key Stakeholders

Below are the key stakeholders for the Glow Plugs Market:

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

Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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 Glow Plugs 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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