Material Tester 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: CR0207017
  • Format: Electronic (PDF)
  • Number of Pages: 180
  • Author(s): Joshi, Madhavi

Report Overview

The Material Tester Market size was estimated at USD 4.8 billion in 2023 and is projected to reach USD 8.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024-2030).

Material Tester Market

(Market Size)
$4.8 billion
$8.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.00%
2023 Market Size USD 4.8 billion
2030 Market Size USD 8.2 billion
Key Players Instron, Zwick Roell, MTS, Shimadzu, Tinius Olsen

Market Summary

The material tester market is a critical segment within the machinery and equipment industry, focusing on devices and systems used to evaluate the physical and mechanical properties of various materials. These testers are indispensable in sectors such as construction, aerospace, automotive, and manufacturing, where material integrity and performance are paramount. The market encompasses a wide range of testing equipment, including universal testing machines, hardness testers, impact testers, and non-destructive testing equipment. The demand for material testers is driven by the need for quality assurance, compliance with international standards, and the advancement of new materials requiring rigorous validation. Companies and research institutions rely on these instruments to ensure safety, durability, and reliability in end products. The market is characterized by continuous technological innovations, with manufacturers integrating digitalization, automation, and data analytics to enhance testing accuracy and efficiency. Key players are consistently developing advanced solutions to cater to evolving industry requirements, making the material tester market a dynamic and essential component of global industrial operations.

Key Highlights

The material tester market is distinguished by several key highlights that underscore its importance and growth trajectory. One significant aspect is the increasing adoption of automated and computerized testing systems, which offer higher precision, repeatability, and integration with enterprise software for data management. Another highlight is the rising emphasis on non-destructive testing methods, which allow for material evaluation without causing damage, thus saving costs and time in quality control processes. The market is also witnessing a surge in demand from emerging economies, where industrialization and infrastructure development are accelerating. Additionally, stringent regulatory standards and quality norms across industries are compelling businesses to invest in advanced material testing equipment. The integration of IoT and AI in material testers is transforming the market, enabling predictive maintenance, real-time monitoring, and enhanced decision-making. Furthermore, the development of portable and handheld testing devices is expanding applications in field testing and on-site inspections, providing flexibility and convenience to users. These highlights collectively contribute to the market's robustness and future potential.

Drivers, Opportunities & Restraints

The material tester market is propelled by several drivers, including the growing need for quality control and assurance in manufacturing processes. Industries such as automotive, aerospace, and construction are increasingly reliant on material testers to comply with safety standards and avoid product failures. The expansion of these industries, particularly in developing regions, is a significant driver. Additionally, technological advancements, such as the incorporation of digital twins and smart sensors, are enhancing the capabilities of material testing equipment, driving adoption. Opportunities in the market abound, particularly in the development of eco-friendly and sustainable materials, which require specialized testing protocols. The rise of additive manufacturing and composite materials also presents new avenues for market growth, as these materials demand innovative testing solutions. However, the market faces restraints, including the high cost of advanced testing equipment, which can be a barrier for small and medium-sized enterprises. Moreover, the lack of skilled professionals to operate sophisticated testing machines may hinder market expansion. Economic uncertainties and fluctuations in end-user industries could also impact investment in material testing infrastructure.

Concentration Insights

The material tester market exhibits a concentrated landscape with a few dominant players holding significant market share. Companies such as MTS Systems Corporation, Instron, ZwickRoell, and Shimadzu Corporation are key contributors, leveraging their extensive product portfolios and global presence. These established players focus on continuous innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. The concentration is also evident in specific regions, with North America and Europe being traditional hubs due to their advanced industrial bases and stringent quality standards. However, the market is seeing a gradual shift with increasing participation from Asia-Pacific-based companies, which are expanding their reach through competitive pricing and localized solutions. The concentration insights reveal that while the market is competitive, barriers to entry remain high due to the need for technological expertise and substantial R&D investments. Nonetheless, niche players and startups are emerging, focusing on specialized testing solutions for unique applications, thereby adding diversity to the market concentration.

Type Insights

The material tester market is segmented by type into various categories, each catering to specific testing needs. Universal testing machines are among the most widely used, capable of performing tension, compression, and bending tests on a multitude of materials. Hardness testers, including Rockwell, Brinell, and Vickers types, are essential for determining material resistance to deformation. Impact testers, such as Charpy and Izod, assess material toughness and ability to absorb energy under sudden loads. Non-destructive testing equipment, including ultrasonic, radiographic, and eddy current testers, allows for evaluation without altering the material's integrity. Additionally, there are specialized testers for fatigue, creep, and rheological properties, addressing complex material behaviors. Each type of tester is designed to meet industry-specific requirements, with advancements focusing on automation, accuracy, and user-friendly interfaces. The diversity in tester types ensures that the market can address a broad spectrum of material testing applications, from routine quality checks to advanced research and development.

Application Insights

Material testers find applications across a wide range of industries, each with unique testing demands. In the automotive sector, they are used to test components like metals, plastics, and composites for strength, durability, and safety compliance. The aerospace industry relies on material testers to validate the performance of advanced alloys and composites under extreme conditions, ensuring reliability in critical applications. Construction applications involve testing building materials such as concrete, steel, and ceramics for structural integrity and adherence to standards. In the manufacturing sector, material testers are integral to quality control processes, verifying raw materials and finished products. The medical device industry utilizes these testers for evaluating biomaterials and implants, ensuring biocompatibility and mechanical performance. Additionally, research and educational institutions employ material testers for experimental studies and material science advancements. The application insights highlight the versatility of material testers, underscoring their role in enhancing product quality, safety, and innovation across diverse fields.

Regional Insights

The material tester market demonstrates varied dynamics across different regions, influenced by industrial development, regulatory frameworks, and technological adoption. North America is a prominent market, driven by advanced manufacturing sectors, stringent safety standards, and significant R&D activities. The presence of major aerospace, automotive, and defense industries fuels demand for high-precision testing equipment. Europe follows closely, with strong emphasis on quality assurance and sustainability in industries such as automotive, construction, and energy. The region's well-established infrastructure and focus on innovation support market growth. Asia-Pacific is emerging as a rapidly growing region, propelled by industrialization, infrastructure projects, and expanding manufacturing capabilities in countries like China, India, and Japan. The increasing adoption of international quality standards and rising investments in industrial automation are key factors. Latin America and the Middle East & Africa are also witnessing growth, albeit at a slower pace, due to developing industrial bases and increasing awareness about quality control. Regional insights indicate a globally interconnected market with opportunities tailored to local industrial needs.

Company Insights

The material tester market features several leading companies that dominate through innovation, quality, and global reach. MTS Systems Corporation is renowned for its advanced testing and simulation solutions, catering to industries like aerospace, automotive, and materials research. Instron, a part of ITW Inc., is a key player known for its high-performance universal testing machines and extensive application support. ZwickRoell offers a comprehensive range of material testing systems, emphasizing precision and reliability for various industries. Shimadzu Corporation provides innovative testing equipment, integrating advanced technologies for accurate material characterization. Other notable companies include Tinius Olsen, Ametek, and Hegewald & Peschke, each contributing specialized solutions and expertise. These companies focus on continuous product development, customer support, and strategic expansions to maintain competitive edges. The company insights reveal a market where technological leadership, brand reputation, and after-sales services are critical for success, with players constantly evolving to meet changing customer demands and industry trends.

Recent Developments

Recent developments in the material tester market reflect ongoing innovation and strategic movements among key players. There has been a notable trend towards digitalization, with companies introducing software solutions for data management, analysis, and remote monitoring. For instance, integration of IoT capabilities allows real-time data access and predictive maintenance features. Additionally, advancements in non-destructive testing technologies have been emphasized, enhancing accuracy and efficiency for critical applications. Mergers and acquisitions have also been prevalent, as companies seek to expand their product portfolios and geographic presence. For example, strategic acquisitions have enabled firms to incorporate complementary technologies and enter new market segments. Furthermore, there is increasing focus on developing environmentally sustainable testing solutions, aligning with global sustainability goals. Collaborations with research institutions and industry consortia are driving innovation in testing methodologies for new materials like composites and additives. These developments indicate a market that is rapidly evolving to incorporate technological trends and address emerging industry challenges.

Report Segmentation

The material tester market report is segmented to provide detailed analysis and insights across various dimensions. The segmentation by type includes universal testing machines, hardness testers, impact testers, non-destructive testing equipment, and others, each analyzed for market trends and growth potential. Application segmentation covers automotive, aerospace, construction, manufacturing, medical devices, and research & education, highlighting specific demands and opportunities in each sector. Geographically, the report is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, offering regional analysis based on economic factors, industrial activities, and regulatory environments. Additionally, the report may segment by technology, such as manual, semi-automatic, and fully automatic testers, reflecting the level of automation adoption. Company segmentation provides insights into key players, their market share, strategies, and product offerings. This comprehensive segmentation enables stakeholders to understand market dynamics, identify growth areas, and make informed decisions based on detailed, categorized information.

FAQs

What are the common types of material testing machines? Common types include universal testing machines for tension and compression tests, hardness testers like Rockwell and Brinell, impact testers such as Charpy and Izod, and non-destructive testing equipment including ultrasonic and radiographic testers.

Which industries use material testers the most? Industries such as automotive, aerospace, construction, manufacturing, and medical devices extensively use material testers for quality control, safety compliance, and research purposes.

How does non-destructive testing work? Non-destructive testing evaluates material properties without causing damage, using methods like ultrasound, radiography, or eddy currents to detect flaws, measure thickness, or assess integrity.

What are the benefits of automated material testing systems? Automated systems offer higher precision, repeatability, efficiency, and integration with data management software, reducing human error and enhancing productivity.

Why is material testing important in manufacturing? Material testing ensures that materials meet required standards for strength, durability, and safety, preventing product failures, ensuring compliance, and maintaining quality.

What trends are shaping the material tester market? Key trends include digitalization, IoT integration, adoption of non-destructive techniques, and development of portable testers, driven by demands for accuracy and efficiency.

Citius Research has developed a research report titled “Material Tester 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

• Material Tester 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 Material Tester 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.

Material Tester Market Segmentation

Market Segmentation

Regions Covered

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

Material Tester Market Analysis

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

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

Material Tester Market Key Stakeholders

Below are the key stakeholders for the Material Tester Market:

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

Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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 Material Tester 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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