Hair Salon Equipment Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0192159
  • Format: Electronic (PDF)
  • Number of Pages: 184
  • Author(s): Joshi, Madhavi

Report Overview

The Hair Salon Equipment Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 5.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2024-2030).

Hair Salon Equipment Market

(Market Size)
$3.2 billion
$5.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.80%
2023 Market Size USD 3.2 billion
2030 Market Size USD 5.2 billion
Key Players Takara Belmont, Collins, Pibbs, LCL Beauty, Kaemark

Market Summary

The hair salon equipment market is a significant segment within the consumer goods industry, catering to the needs of professional salons, barbershops, and personal care establishments worldwide. This market encompasses a wide array of products designed to support various hair care services, including cutting, styling, coloring, and washing. The demand for these products is driven by the continuous growth of the beauty and personal care sector, coupled with increasing consumer expenditure on grooming and wellness services. Technological advancements have led to the development of innovative, efficient, and eco-friendly equipment, enhancing the operational capabilities of salon businesses. The market is characterized by a blend of established multinational corporations and emerging regional players, all competing on factors such as product quality, durability, innovation, and price. The proliferation of professional salons in both developed and developing regions further sustains market expansion. Additionally, the rise of home salon setups and mobile hair styling services has introduced new avenues for market growth, reflecting evolving consumer preferences and lifestyle trends.

Key Highlights

The hair salon equipment market showcases several key highlights that underscore its dynamic nature and future potential. Innovation remains a central theme, with manufacturers increasingly integrating smart technologies, such as IoT connectivity and energy-efficient features, into products like hair dryers, styling irons, and salon chairs. Sustainability has also become a critical focus, leading to the introduction of equipment made from recycled materials and designed for reduced water and energy consumption. The market benefits from strong growth in the professional beauty industry, supported by rising disposable incomes and heightened awareness of personal grooming. Another notable trend is the customization of salon equipment to meet specific ergonomic and aesthetic requirements of salon owners, enhancing both functionality and client experience. The expansion of e-commerce platforms has simplified the procurement process for salon professionals, providing greater access to a diverse range of products and brands. Furthermore, the market is witnessing increased investment in research and development to create multifunctional devices that save space and improve service efficiency in salons.

Drivers, Opportunities & Restraints

Several drivers propel the hair salon equipment market forward, including the growing number of hair salons and spas globally, fueled by urbanization and increasing consumer focus on appearance and self-care. The rising popularity of specialized hair treatments, such as keratin smoothing and hair extensions, necessitates advanced equipment, thereby stimulating demand. Opportunities abound in the development of portable and compact devices tailored for mobile salon services and home use, catering to the convenience-seeking consumer. The integration of digital technologies, like app-controlled devices and virtual try-on tools, presents another significant opportunity for market differentiation and growth. However, the market faces restraints such as high costs associated with premium, technologically advanced equipment, which can be prohibitive for small salon owners and startups in developing regions. Economic downturns and fluctuations in disposable income may also temporarily dampen market growth. Additionally, stringent regulatory standards and safety certifications for electrical beauty devices in various countries pose challenges for manufacturers in terms of compliance and product approvals.

Concentration Insights

The hair salon equipment market exhibits a varied concentration landscape, with key players holding substantial shares due to their extensive product portfolios, strong brand recognition, and global distribution networks. Leading companies such as Dyson, Andis Company, and Wahl Clipper Corporation dominate specific segments like hair dryers and clippers, leveraging their reputation for quality and innovation. The market is also populated by numerous regional and local manufacturers that cater to niche demands and offer cost-effective solutions. Concentration is higher in developed regions such as North America and Europe, where established brands have a strong foothold, while emerging markets in Asia-Pacific and Latin America show a more fragmented structure with growing local competition. Strategic initiatives, including mergers, acquisitions, and partnerships, are common among top players aiming to expand their market presence and technological capabilities. This competitive environment encourages continuous product development and enhances overall market vitality.

Type Insights

The hair salon equipment market is segmented by type into various categories, each serving distinct functions within salon operations. Hair dryers represent a fundamental product category, with advancements focusing on reduced drying time, ionic technology, and lightweight designs for ergonomic use. Hair clippers and trimmers are essential for cutting and detailing, featuring cordless options, precision blades, and customizable attachments. Styling stations and chairs form the backbone of salon infrastructure, emphasizing durability, adjustability, and aesthetic appeal to create a comfortable client experience. Shampoo units and sinks are designed for efficiency and client comfort, often incorporating features like adjustable height and built-in massage functions. Additionally, specialized equipment such as steamers, hood dryers, and hair coloring tools cater to specific treatment needs. The diversity in product types allows salons to equip themselves based on service offerings, space constraints, and budget considerations, driving continuous innovation across all segments.

Application Insights

Hair salon equipment finds primary application in professional settings including hair salons, barbershops, spas, and beauty institutes, where reliability and performance are paramount. In these environments, equipment must withstand high usage?? while delivering consistent results to meet client expectations. There is a growing application in the home segment, as consumers invest in professional-grade tools for personal use, influenced by tutorials and online content from beauty experts. Mobile salon services represent another emerging application area, requiring portable, battery-operated, and compact equipment to facilitate on-the-go styling services. Furthermore, equipment is utilized in theatrical and fashion industries for preparing models and performers, necessitating versatile and high-capacity devices. The diversification of applications underscores the market's adaptability to changing consumer behaviors and professional requirements, encouraging manufacturers to develop products that are both versatile and context-specific.

Regional Insights

Regionally, the hair salon equipment market demonstrates varied growth patterns influenced by economic conditions, cultural trends, and beauty industry maturity. North America and Europe are mature markets characterized by high adoption of advanced technologies and a strong presence of leading manufacturers; demand here is driven by premiumization and sustainability trends. The Asia-Pacific region is experiencing rapid growth due to expanding middle-class populations, increasing beauty consciousness, and proliferation of salon chains in countries like China, India, and Japan. Latin America and the Middle East & Africa are emerging as promising markets, with growing investments in personal care services and urbanization fueling demand for salon equipment. Each region exhibits distinct preferences?for example, North American salons often prioritize innovation and brand reputation, while cost-effectiveness and durability may be more critical in price-sensitive emerging markets. Regional regulatory frameworks also impact product offerings and market entry strategies for companies.

Company Insights

Prominent companies in the hair salon equipment market include Dyson, known for its innovative hair dryers and airwrap stylers; Andis Company, a leader in professional clippers and trimmers; and Wahl Clipper Corporation, renowned for its durable and precise grooming tools. Other key players such as Conair Corporation, Helen of Troy, and Takara Belmont contribute significantly with diverse product ranges spanning hair care appliances and salon furniture. These companies compete through continuous product innovation, strategic marketing, and expansive distribution channels. Many invest heavily in research and development to introduce features like cordless operation, advanced motor technology, and eco-friendly materials. Partnerships with professional stylists and influencers help in building brand credibility and consumer trust. The competitive landscape is dynamic, with firms also focusing on enhancing customer service and offering warranties to strengthen their market position and cater to the evolving needs of salon professionals worldwide.

Recent Developments

Recent developments in the hair salon equipment market highlight a trend towards smarter and more sustainable products. Many companies have launched energy-efficient hair dryers with reduced carbon footprints, incorporating technologies like intelligent heat control to prevent hair damage. The adoption of IoT-enabled devices allows salon owners to monitor equipment usage and performance remotely, optimizing maintenance schedules. There has been an increase in collaborations between equipment manufacturers and beauty brands to create co-branded products that enhance service offerings. Additionally, several players have expanded their production capacities in Asia to leverage cost advantages and meet growing regional demand. The market has also seen a surge in the introduction of multifunctional stations that combine cutting, washing, and styling functionalities to save space and improve salon workflow. These developments reflect the industry's response to environmental concerns, technological integration, and the need for operational efficiency in salon management.

Report Segmentation

This report on the hair salon equipment market offers a detailed segmentation to provide comprehensive insights into various aspects of the industry. It is segmented by product type, covering categories such as hair dryers, clippers and trimmers, styling stations, shampoo units, and specialized treatment equipment. Each segment is analyzed in terms of market trends, innovation, and demand patterns. The report further segments the market by application, distinguishing between professional use in salons and barbershops, home use, and mobile services. Geographic segmentation includes in-depth analysis of regions and key countries, highlighting regional preferences and growth opportunities. Additionally, the segmentation considers distribution channels, examining sales through offline specialty stores and online e-commerce platforms. This structured approach enables stakeholders to identify niche segments, understand regional dynamics, and make informed decisions based on targeted market intelligence.

FAQs

What equipment is essential for a hair salon? Essential equipment includes hair dryers, clippers, styling chairs, shampoo units, and mirrors to facilitate basic services like cutting, washing, and styling.

How often should salon equipment be replaced? Replacement frequency depends on usage and maintenance; generally, high-use items like clippers may need upgrading every few years, while durable furniture lasts longer.

What are the latest trends in hair salon equipment? Current trends include smart technology integration, energy-efficient devices, multifunctional units, and eco-friendly materials to enhance sustainability and performance.

Which brands are leading in the hair salon equipment market? Leading brands include Dyson, Andis Company, Wahl Clipper Corporation, Conair, and Takara Belmont, known for quality and innovation.

How to choose the right equipment for a new salon? Consider factors like service offerings, budget, space availability, brand reputation, and customer reviews to select reliable and efficient equipment.

Are there eco-friendly options available in salon equipment? Yes, many manufacturers now offer equipment made from recycled materials, with energy-saving features and reduced water consumption to support environmental sustainability.

Citius Research has developed a research report titled “Hair Salon Equipment 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

• Hair Salon Equipment 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 Hair Salon Equipment 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.

Hair Salon Equipment Market Segmentation

Market Segmentation

Regions Covered

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

Hair Salon Equipment Market Analysis

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

• Overview of Hair Salon Equipment Market
• Research Methodology
• Executive Summary
• Market Dynamics of Hair Salon Equipment 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 Hair Salon Equipment Market
• Cost and Gross Margin Analysis of Hair Salon Equipment Market
• Hair Salon Equipment 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 “Hair Salon Equipment 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.

Hair Salon Equipment Market Key Stakeholders

Below are the key stakeholders for the Hair Salon Equipment Market:

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

Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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 Hair Salon Equipment 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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