Water Testing 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: CR0194839
  • Format: Electronic (PDF)
  • Number of Pages: 185
  • Author(s): Joshi, Madhavi

Report Overview

The Water Testing Market size was estimated at USD 8.5 billion in 2023 and is projected to reach USD 15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.50% during the forecast period (2024-2030).

Water Testing Market

(Market Size)
$8.5 billion
$15 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.50%
2023 Market Size USD 8.5 billion
2030 Market Size USD 15 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS

Market Summary

The water testing market within the energy and power industry is a critical segment focused on ensuring the quality, safety, and regulatory compliance of water used in various industrial processes. This market encompasses the analysis of water sources, effluents, and process water to detect contaminants, monitor chemical parameters, and assess overall water health. The energy sector, including power generation plants, oil and gas operations, and renewable energy facilities, relies heavily on water for cooling, steam production, hydraulic fracturing, and other essential functions. As such, maintaining water quality is paramount to operational efficiency, environmental protection, and regulatory adherence. The market involves a range of testing methodologies, instruments, and services provided by specialized companies and laboratories. Key drivers include stringent environmental regulations, the need for sustainable water management practices, and the increasing adoption of advanced technologies for real-time monitoring and data analytics. With growing emphasis on water conservation and the circular economy, the water testing market is integral to supporting the energy and power industry's efforts to minimize its environmental footprint while ensuring reliable and safe operations.

Key Highlights

The water testing market for the energy and power sector is characterized by several key highlights that underscore its importance and evolution. Advanced testing technologies, such as spectrophotometry, chromatography, and molecular diagnostics, are increasingly being deployed to achieve higher accuracy and faster results. The integration of Internet of Things (IoT) devices and artificial intelligence (AI) enables real-time water quality monitoring and predictive maintenance, reducing downtime and enhancing operational efficiency. Major companies like SUEZ, Thermo Fisher Scientific, and Danaher Corporation are leading the development of innovative testing solutions tailored to industrial needs. There is a growing trend towards portable and on-site testing kits, allowing for immediate analysis and decision-making in remote or challenging environments, such as offshore oil rigs or hydropower plants. Additionally, the market is witnessing a shift towards comprehensive water management services that include not only testing but also treatment recommendations and compliance consulting. These developments highlight the market's role in supporting sustainable energy production and ensuring that water resources are managed responsibly and in alignment with global environmental standards.

Drivers, Opportunities & Restraints

The water testing market in the energy and power industry is driven by several factors, including stringent governmental regulations aimed at protecting water resources and reducing industrial pollution. Regulations such as the Clean Water Act in the United States and similar frameworks globally mandate regular monitoring and reporting of water discharges, compelling companies to invest in robust testing protocols. Additionally, the increasing focus on water scarcity and the need for efficient water reuse in industrial processes are significant drivers, as energy companies seek to minimize freshwater intake and maximize recycling. Opportunities abound in the development of smart water testing technologies that leverage IoT, AI, and cloud computing for enhanced data analytics and remote monitoring. The expansion of renewable energy sectors, such as hydropower and biofuels, which require specific water quality management, also presents growth avenues. However, the market faces restraints, including the high cost of advanced testing equipment and the need for skilled personnel to operate complex instruments. Economic fluctuations and budget constraints in the energy sector can also impact investment in water testing infrastructure. Despite these challenges, the ongoing push towards sustainability and regulatory compliance ensures steady demand for water testing solutions.

Concentration Insights

The concentration of the water testing market in the energy and power industry is influenced by the presence of established players and the geographic distribution of energy activities. North America and Europe are significant markets due to strict environmental regulations and high adoption of advanced technologies. In these regions, companies like SUEZ, Thermo Fisher Scientific, and Agilent Technologies dominate with comprehensive portfolios of testing instruments and services. The Asia-Pacific region is experiencing rapid growth, driven by expanding energy infrastructure in countries like China and India, where increasing industrialization and power generation necessitate rigorous water quality control. The market is moderately concentrated, with key players engaging in strategic partnerships, acquisitions, and product innovations to strengthen their market position. For instance, collaborations between technology providers and energy companies are common to develop customized testing solutions. Additionally, there is a notable presence of specialized laboratories and service providers offering niche testing capabilities, such as toxicity testing or contaminant identification, catering to specific needs within the energy sector. This concentration dynamic ensures a competitive yet collaborative environment focused on advancing water testing standards.

Type Insights

Water testing in the energy and power industry encompasses various types of tests tailored to specific applications and contaminants. Physical testing involves assessing parameters like temperature, turbidity, and conductivity, which are crucial for monitoring cooling water systems in power plants to prevent scaling and corrosion. Chemical testing includes the analysis of pH, dissolved oxygen, heavy metals, and organic compounds, ensuring that effluents meet regulatory standards and do not harm aquatic ecosystems. Microbiological testing detects bacteria, algae, and other microorganisms that can cause biofouling in pipelines and equipment, leading to inefficiencies and operational disruptions. Additionally, radiological testing is employed in nuclear power plants to monitor for radioactive contaminants in water used in cooling and other processes. The adoption of advanced testing types, such as real-time polymerase chain reaction (PCR) for rapid pathogen detection and inductively coupled plasma mass spectrometry (ICP-MS) for trace metal analysis, is increasing. These diverse testing types are essential for comprehensive water management, enabling energy companies to maintain system integrity, comply with regulations, and protect environmental health.

Application Insights

Water testing applications in the energy and power industry are diverse and critical to various operational processes. In thermal power plants, water testing is essential for boiler feedwater, cooling water, and wastewater, ensuring that impurities are controlled to prevent equipment damage and maintain efficiency. For nuclear power facilities, testing focuses on monitoring radiological contaminants and ensuring that discharge water meets strict safety standards. In the oil and gas sector, water testing is applied in hydraulic fracturing operations to analyze flowback and produced water for contaminants, facilitating reuse or safe disposal. Renewable energy applications, such as hydropower, require testing to assess water quality impacts on turbines and ecosystems, while biofuels production involves monitoring process water for organic loads and nutrients. Additionally, water testing is used in corrosion control programs across all energy sectors to extend equipment lifespan and reduce maintenance costs. The integration of water testing into environmental management systems helps companies demonstrate compliance, mitigate risks, and enhance sustainability reporting. These applications underscore the indispensable role of water testing in supporting safe, efficient, and environmentally responsible energy production.

Regional Insights

Regionally, the water testing market for the energy and power industry exhibits distinct trends and dynamics. North America is a leading market, driven by stringent environmental regulations, advanced infrastructure, and high awareness of water conservation. The United States, in particular, has a well-established framework for water quality management in energy operations, supported by agencies like the Environmental Protection Agency. Europe follows closely, with countries like Germany and the UK emphasizing sustainable practices and investing in smart water technologies. The Asia-Pacific region is witnessing robust growth due to rapid industrialization, expanding power generation capacities, and increasing regulatory focus on water pollution control in nations such as China and India. Latin America and the Middle East are emerging markets, where oil and gas activities and growing energy demands are spurring adoption of water testing solutions. Africa, while still developing, shows potential with investments in energy infrastructure and rising environmental consciousness. Each region presents unique challenges and opportunities, influenced by local regulations, water scarcity issues, and technological adoption rates, shaping the global landscape of the water testing market in the energy sector.

Company Insights

Several key companies play pivotal roles in the water testing market for the energy and power industry, offering a range of products and services. SUEZ is a prominent player, providing integrated water management solutions, including testing and treatment services tailored to industrial clients. Thermo Fisher Scientific offers advanced analytical instruments, such as spectrophotometers and chromatographs, used for precise water quality analysis. Danaher Corporation, through its subsidiary Hach, specializes in water testing equipment and reagents, with a strong focus on portability and ease of use for field applications. Agilent Technologies is known for its high-performance liquid chromatography and mass spectrometry systems, enabling detailed contaminant identification. Merck KGaA provides comprehensive test kits and reagents for various parameters, supporting laboratories and on-site testing needs. Additionally, companies like Xylem and Emerson Electric offer monitoring and control solutions that incorporate water testing technologies for real-time data acquisition. These companies invest heavily in research and development to introduce innovations, such as digital platforms for data management and automated testing systems, enhancing their competitive edge and addressing the evolving demands of the energy sector for reliable and efficient water testing.

Recent Developments

Recent developments in the water testing market for the energy and power industry reflect a trend towards technological innovation and strategic expansions. Companies are increasingly integrating digital technologies, such as IoT sensors and cloud-based analytics platforms, to enable continuous monitoring and predictive maintenance of water systems. For instance, new partnerships between technology firms and energy companies have led to the development of customized testing solutions that provide real-time insights into water quality parameters. There is also a growing emphasis on sustainability, with innovations focused on reducing the environmental impact of testing processes, such as the use of reagents with lower toxicity and energy-efficient instruments. Acquisitions and mergers are common, as larger players seek to broaden their portfolios and geographic reach; recent examples include acquisitions of specialized testing service providers to enhance capabilities in emerging markets. Additionally, regulatory updates in various regions have prompted companies to introduce new testing protocols and compliant products. These developments highlight the market's dynamic nature, driven by the need for greater efficiency, accuracy, and environmental stewardship in water management for the energy sector.

Report Segmentation

The water testing market report for the energy and power industry is segmented to provide detailed insights into various aspects. Segmentation by type includes physical, chemical, microbiological, and radiological testing, each addressing specific water quality parameters and contaminants relevant to energy applications. By application, the report covers areas such as boiler water testing, cooling water analysis, wastewater monitoring, and hydraulic fracturing water assessment, reflecting the diverse uses of water in energy processes. Geographic segmentation breaks down the market into regions like North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, highlighting regional trends, regulatory environments, and growth opportunities. Additionally, the report may segment by technology, distinguishing between traditional laboratory-based testing and emerging on-site or portable testing methods. Company segmentation profiles key players, their market shares, product offerings, and strategic initiatives. This comprehensive segmentation allows stakeholders to understand market dynamics, identify growth areas, and make informed decisions regarding investment, product development, and market entry strategies tailored to the energy and power sector's specific needs.

FAQs

What is water testing in the energy industry? Water testing in the energy industry involves analyzing water used in processes like power generation and oil extraction to ensure quality, safety, and regulatory compliance, detecting contaminants and optimizing water management.

Why is water testing important for power plants? Water testing is crucial for power plants to prevent equipment corrosion, scaling, and biofouling, maintain efficiency, meet environmental regulations, and ensure sustainable water use in cooling and boiler systems.

What parameters are tested in energy sector water? Common parameters include pH, turbidity, dissolved oxygen, heavy metals, microorganisms, and chemical contaminants, tailored to specific applications like cooling water or wastewater discharge.

How does water testing support environmental compliance? It helps energy companies monitor discharges, adhere to laws like the Clean Water Act, avoid penalties, and demonstrate commitment to protecting water resources and ecosystems.

What are the latest technologies in water testing? Innovations include IoT-based sensors for real-time monitoring, AI for data analytics, portable test kits for on-site analysis, and advanced spectrometry for accurate contaminant detection.

Which companies lead in energy water testing? Key players include SUEZ, Thermo Fisher Scientific, Danaher Corporation, and Agilent Technologies, offering instruments, reagents, and services for comprehensive water quality management.

Citius Research has developed a research report titled “Water Testing 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

• Water Testing 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 Water Testing 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.

Water Testing Market Segmentation

Market Segmentation

Regions Covered

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

Water Testing Market Analysis

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

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

Water Testing Market Key Stakeholders

Below are the key stakeholders for the Water Testing Market:

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

Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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 Water Testing 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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