Outdoor flooring 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: CR0208548
  • Format: Electronic (PDF)
  • Number of Pages: 200
  • Author(s): Joshi, Madhavi

Report Overview

The Outdoor flooring Market size was estimated at USD 12.5 billion in 2023 and is projected to reach USD 19.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2024-2030).

Outdoor flooring Market

(Market Size)
$12.5 billion
$19.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.00%
2023 Market Size USD 12.5 billion
2030 Market Size USD 19.5 billion
Key Players Trex, AZEK, Fiberon, Cali Bamboo, TimberTech

Market Summary

The outdoor flooring market is a significant segment within the manufacturing and construction industries, catering to residential, commercial, and industrial applications. This market encompasses a wide range of materials and products designed to withstand environmental elements while providing durability, safety, and aesthetic appeal. Key products include decking, tiles, pavers, and synthetic surfaces, which are utilized in spaces such as patios, pool areas, pathways, and public landscapes. The demand for outdoor flooring is driven by increasing urbanization, rising disposable incomes, and a growing emphasis on outdoor living spaces. Manufacturers are continuously innovating to offer solutions that combine functionality with visual appeal, addressing the needs of both consumers and professional contractors. The market is characterized by a diverse array of materials, including wood, composite, concrete, stone, and rubber, each offering distinct advantages in terms of longevity, maintenance, and cost. As outdoor spaces become integral to residential and commercial property design, the outdoor flooring market is poised for sustained growth, supported by trends in sustainable building practices and technological advancements in material science.

Key Highlights

The outdoor flooring market is distinguished by several key highlights that underscore its dynamic nature and growth potential. Innovation in material technology is a major highlight, with composite and recycled materials gaining prominence due to their eco-friendly properties and low maintenance requirements. Leading companies are investing in research and development to enhance product performance, focusing on attributes such as slip resistance, UV stability, and resistance to moisture and temperature fluctuations. Another significant highlight is the increasing adoption of modular and interlocking flooring systems, which offer ease of installation and flexibility, appealing to both DIY enthusiasts and professional installers. The market is also witnessing a surge in demand for customizable and aesthetically versatile options, allowing consumers to tailor outdoor spaces to their specific design preferences. Additionally, the emphasis on sustainable and green building practices is driving the use of materials that are recyclable and sourced from renewable resources. These highlights reflect a market that is responsive to evolving consumer demands and environmental considerations, positioning outdoor flooring as a critical component in modern construction and landscape architecture.

Drivers, Opportunities & Restraints

The outdoor flooring market is influenced by a combination of drivers, opportunities, and restraints that shape its trajectory. Key drivers include the rising trend of outdoor living and entertainment, which has increased the demand for durable and attractive flooring solutions in residential settings. Growth in the construction sector, particularly in emerging economies, is another significant driver, as urbanization and infrastructure development create opportunities for outdoor flooring applications in public spaces, commercial complexes, and hospitality venues. The increasing awareness of sustainable building materials is also driving market growth, with consumers and regulators favoring eco-friendly products. Opportunities abound in the development of advanced materials that offer enhanced performance characteristics, such as improved durability and easier maintenance. The expansion of online retail channels presents another opportunity, making it easier for consumers to access a wide range of products. However, the market faces restraints, including the high cost of premium materials like natural stone and high-quality composites, which can limit adoption in cost-sensitive segments. Additionally, fluctuations in raw material prices and supply chain disruptions pose challenges to market stability. Regulatory hurdles related to environmental standards and building codes can also impact product development and market entry.

Concentration Insights

The outdoor flooring market features a concentrated competitive landscape with several established players dominating the industry. Key companies such as Trex Company, Inc., AZEK Company Inc., and Fiberon LLC hold significant market shares, leveraging their extensive product portfolios and strong distribution networks. These industry leaders focus on innovation, sustainability, and brand recognition to maintain their competitive edge. The market also includes numerous regional and local manufacturers that cater to specific geographic or material niches, contributing to a diverse competitive environment. Concentration is particularly high in North America and Europe, where advanced manufacturing capabilities and high consumer demand drive competition. In emerging regions, the market is more fragmented, with opportunities for new entrants to capture market share through cost-effective solutions and localized offerings. Strategic initiatives such as mergers, acquisitions, and partnerships are common, as companies seek to expand their geographic presence and enhance their product offerings. This concentration dynamic ensures a balance between innovation from large players and customization from smaller specialists, fostering a healthy competitive ecosystem.

Type Insights

The outdoor flooring market is segmented by type into various categories, each with distinct characteristics and applications. Wood remains a popular choice due to its natural aesthetic and traditional appeal, with options including pressure-treated lumber, cedar, and tropical hardwoods offering varying levels of durability and cost. Composite flooring has gained significant traction, combining wood fibers and plastic to create products that mimic the look of wood while providing enhanced resistance to weathering, insects, and decay. Concrete flooring is valued for its strength and versatility, often used in patios, walkways, and commercial spaces for its longevity and low maintenance. Stone flooring, including natural stone like slate, granite, and limestone, offers a premium option with unique patterns and high durability, though at a higher cost. Rubber flooring is commonly used in areas requiring safety and comfort, such as playgrounds and gyms, due to its shock-absorbing properties. Each type caters to specific consumer needs, influenced by factors such as budget, aesthetic preferences, and functional requirements, driving diversity in product offerings and innovation.

Application Insights

Outdoor flooring finds applications across residential, commercial, and industrial sectors, each with unique demands and preferences. In residential applications, outdoor flooring is extensively used in patios, decks, pool surrounds, and garden pathways, where homeowners seek a blend of aesthetics, durability, and ease of maintenance. The trend towards outdoor living spaces has amplified demand in this segment, with products like composite decking and stone pavers being particularly popular. Commercial applications include hospitality venues such as restaurants and hotels, where outdoor flooring enhances guest experiences through attractive and durable surfaces. Public spaces like parks, plazas, and walkways also utilize outdoor flooring to ensure safety and longevity under high foot traffic. Industrial applications often involve functional requirements, such as anti-slip surfaces in warehouses or factory exteriors, where rubber and concrete are preferred for their robustness. Each application segment drives specific product developments, with manufacturers tailoring offerings to meet the performance and aesthetic standards required by different end-users.

Regional Insights

The outdoor flooring market exhibits varying dynamics across different regions, influenced by climatic conditions, economic development, and cultural preferences. North America is a prominent market, driven by high consumer spending on home improvement and a strong culture of outdoor living. The United States leads in this region, with significant demand for composite and wood decking products. Europe follows closely, with countries like Germany, the UK, and France showing robust demand due to stringent building regulations and a focus on sustainable materials. The Asia-Pacific region is experiencing rapid growth, fueled by urbanization, rising disposable incomes, and increasing construction activities in countries such as China, India, and Australia. This region presents opportunities for both premium and economy segments, with diverse material preferences. Latin America and the Middle East & Africa are emerging markets, where economic development and tourism infrastructure projects are driving demand for outdoor flooring solutions. Regional insights highlight the importance of adapting products to local climates and consumer preferences, influencing global strategies for market players.

Company Insights

The outdoor flooring market is served by a mix of global leaders and specialized manufacturers, each contributing to the industry's innovation and growth. Trex Company, Inc. is a dominant player known for its high-performance composite decking and railing products, emphasizing sustainability through the use of recycled materials. AZEK Company Inc. is another key competitor, offering a range of low-maintenance outdoor living products, including decking, porches, and trim, with a focus on durability and aesthetic appeal. Fiberon LLC specializes in composite decking and fencing solutions, leveraging advanced manufacturing techniques to produce products that resist fading, staining, and scratching. Other notable companies include Mohawk Industries, which offers a variety of outdoor flooring options through its brands, and Shaw Industries, known for its innovative and sustainable flooring solutions. These companies invest heavily in research and development to introduce new products that meet evolving consumer demands for eco-friendliness, ease of installation, and long-term performance. Their strategies often include expanding distribution networks and engaging in strategic acquisitions to strengthen market presence.

Recent Developments

The outdoor flooring market has witnessed several recent developments that reflect ongoing innovation and strategic shifts. Companies are increasingly introducing products made from recycled and sustainable materials, responding to growing environmental concerns and regulatory pressures. For instance, advancements in composite technology have led to products with enhanced grain patterns and colors that closely resemble natural wood, improving aesthetic appeal. There is also a trend towards modular and interlocking systems that simplify installation and reduce labor costs, making outdoor flooring more accessible to a broader consumer base. Strategic partnerships and acquisitions have been notable, with larger companies acquiring smaller innovators to expand their product portfolios and geographic reach. Additionally, investments in digital marketing and e-commerce capabilities have accelerated, allowing companies to reach consumers directly and provide detailed product information online. These developments indicate a market that is adapting to changing consumer preferences and technological advancements, ensuring continued growth and diversification.

Report Segmentation

This report on the outdoor flooring market provides a comprehensive analysis segmented by type, application, and region to offer detailed insights into market dynamics. By type, the segmentation includes wood, composite, concrete, stone, rubber, and others, each analyzed for their market share, growth potential, and key trends. The application segment covers residential, commercial, and industrial uses, examining demand patterns, consumer preferences, and functional requirements across these sectors. Geographically, the report is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with each region assessed for its unique market characteristics, growth drivers, and competitive landscape. This structured approach allows stakeholders to identify opportunities and challenges specific to each segment, facilitating informed decision-making. The segmentation also highlights emerging trends and innovations within each category, providing a holistic view of the market's current state and future direction.

FAQs

What are the most durable materials for outdoor flooring?

Composite materials, concrete, and natural stone are among the most durable options for outdoor flooring, offering resistance to weathering, heavy foot traffic, and environmental damage.

How does composite outdoor flooring compare to wood?

Composite outdoor flooring typically requires less maintenance than wood, as it is resistant to rotting, splintering, and insect damage, while still providing a similar aesthetic appeal.

What are the best outdoor flooring options for wet areas?

For wet areas such as pool decks, materials with high slip resistance like textured concrete, rubber, or certain composite products are recommended to ensure safety.

Can outdoor flooring be installed over existing surfaces?

Yes, many modular and interlocking outdoor flooring systems are designed to be installed over existing surfaces like concrete or wood, simplifying the renovation process.

What factors should be considered when choosing outdoor flooring?

Key factors include climate conditions, intended use, maintenance requirements, budget, and aesthetic preferences to ensure the selected material meets functional and design needs.

Are there eco-friendly options available in outdoor flooring?

Yes, eco-friendly options include composite materials made from recycled plastics and wood fibers, as well as natural stone and rubber products that are sustainable and recyclable.

Citius Research has developed a research report titled “Outdoor flooring 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

• Outdoor flooring 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 Outdoor flooring 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.

Outdoor flooring Market Segmentation

Market Segmentation

Regions Covered

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

Outdoor flooring Market Analysis

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

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

Outdoor flooring Market Key Stakeholders

Below are the key stakeholders for the Outdoor flooring Market:

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

Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring Market is expected to grow at a CAGR of XX% from 2023 to 2030.
For further details request a free sample copy of this report here.
For further details request a free sample copy of this report here.
For further details request a free sample copy of this report here.
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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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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 Outdoor flooring 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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