Recliner Sofas 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: CR0192423
  • Format: Electronic (PDF)
  • Number of Pages: 214
  • Author(s): Joshi, Madhavi

Report Overview

The Recliner Sofas Market size was estimated at USD 12 billion in 2023 and is projected to reach USD 22 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.30% during the forecast period (2024-2030).

Recliner Sofas Market

(Market Size)
$12 billion
$22 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.30%
2023 Market Size USD 12 billion
2030 Market Size USD 22 billion
Key Players La-Z-Boy, Ashley Furniture, IKEA, Herman Miller, Ekornes

Market Summary

The recliner sofas market represents a significant segment within the broader furniture and consumer goods industry, characterized by steady demand driven by evolving consumer lifestyles and a growing emphasis on home comfort. These products are no longer viewed as mere functional furniture but as integral components of modern living spaces, offering enhanced comfort, multifunctional features, and aesthetic appeal. The market caters to a diverse consumer base, ranging from residential households to commercial establishments such as hotels, offices, and healthcare facilities. Innovation remains a key theme, with manufacturers continuously integrating advanced mechanisms, premium materials, and smart technologies to meet rising consumer expectations. The competitive landscape is dynamic, featuring both established multinational corporations and agile regional players striving to capture market share through product differentiation, strategic pricing, and expansive distribution networks. The overall market trajectory is influenced by macroeconomic factors, disposable income levels, and urbanization trends, which collectively shape purchasing patterns and industry growth.

Key Highlights

The recliner sofas market is distinguished by several pivotal developments that underscore its evolution and current state. A prominent trend is the increasing consumer inclination towards premium and customized recliner solutions, which offer personalized comfort and style alignments with home decor themes. Technological integration has become a critical differentiator, with leading manufacturers incorporating features such as massage functions, heating elements, USB charging ports, and voice-activated controls to enhance user experience. Sustainability has also emerged as a significant factor, driving demand for eco-friendly materials and production processes among environmentally conscious buyers. The market witnesses robust growth in the online sales channel, facilitated by improved digital infrastructure and consumer willingness to purchase high-value items through e-commerce platforms. Furthermore, the post-pandemic era has amplified the importance of home-centric lifestyles, accelerating investments in comfortable and functional home furniture, including recliner sofas. These highlights collectively reflect a market that is responsive to consumer preferences and technological advancements.

Drivers, Opportunities & Restraints

Several drivers propel the growth of the recliner sofas market, including rising disposable incomes, urbanization, and the increasing prevalence of smaller living spaces that demand multifunctional furniture. The growing aging population globally also acts as a significant driver, as elderly consumers seek comfortable and supportive seating solutions to enhance their quality of life. Opportunities abound in the expansion of product portfolios to include health-oriented recliners with ergonomic designs and therapeutic features, catering to niche segments such as healthcare and wellness. Additionally, emerging markets present substantial growth potential due to improving economic conditions and rising consumer awareness about premium furniture offerings. However, the market faces restraints such as fluctuating raw material prices, which can impact manufacturing costs and profit margins. Intense competition and the presence of counterfeit products in some regions also pose challenges, potentially undermining brand credibility and consumer trust. Economic uncertainties and supply chain disruptions further add to the market's complexities, requiring strategic adaptability from industry participants.

Concentration Insights

The recliner sofas market exhibits a varied concentration pattern, with key players dominating significant portions of the industry through extensive product offerings and global reach. Companies like La-Z-Boy, Ashley Furniture Industries, and Man Wah Holdings maintain strong market positions due to their brand recognition, innovative capabilities, and robust distribution networks. The market is also characterized by a considerable presence of regional manufacturers who cater to local preferences and price sensitivities, creating a fragmented competitive environment in certain geographies. North America and Europe represent mature markets with high concentration levels, whereas Asia-Pacific shows a more dispersed landscape with numerous small and medium enterprises. Mergers and acquisitions are common strategies employed by leading firms to consolidate market share and expand their geographic footprint. This concentration dynamic influences pricing strategies, product innovation cycles, and overall market competitiveness, prompting continuous strategic adjustments from all participants.

Type Insights

Recliner sofas are available in various types, each designed to meet specific consumer needs and preferences. Traditional two-position recliners remain popular for their simplicity and affordability, offering basic reclining functionality. Rocker recliners provide a dual motion of rocking and reclining, appealing to consumers seeking versatile comfort options. Wall-hugger recliners are engineered to require minimal space between the wall and the sofa, making them ideal for compact living environments. Push-back recliners operate without a lever, relying on the user's body weight to recline, thus offering a seamless and modern aesthetic. Power recliners, equipped with electric motors, allow for effortless adjustment through remote controls or built-in buttons, often incorporating additional features like massage and heat. Sectional recliners, which combine multiple reclining seats within a larger sofa unit, are gaining traction for their suitability in family settings and entertainment spaces. Each type addresses distinct market segments, driven by factors such as space availability, technological appeal, and budget considerations.

Application Insights

The application of recliner sofas spans both residential and commercial sectors, reflecting their versatility and broad appeal. In residential settings, these products are primarily used in living rooms, home theaters, and bedrooms, serving as central pieces for relaxation and entertainment. The growing trend of home offices has also spurred demand for ergonomic recliners that support prolonged sitting and enhance productivity. Within the commercial domain, recliner sofas find applications in healthcare facilities, where they provide comfort to patients and visitors, and in hospitality venues such as hotels and lounges, contributing to a premium guest experience. Corporate offices increasingly incorporate recliner solutions in break rooms and executive suites to promote employee well-being. Additionally, the entertainment industry, including cinemas and theaters, utilizes specialized recliner seating to elevate viewer comfort. These diverse applications highlight the product's adaptability to various environments and user requirements, driving sustained demand across multiple sectors.

Regional Insights

Regionally, the recliner sofas market demonstrates distinct patterns influenced by economic conditions, cultural preferences, and consumer behavior. North America holds a substantial market share, driven by high disposable incomes, a strong culture of home entertainment, and the presence of major manufacturers. Europe follows closely, with demand fueled by aesthetic consciousness and the adoption of innovative furniture solutions. The Asia-Pacific region is identified as a high-growth market, owing to rapid urbanization, expanding middle-class population, and increasing investments in residential and commercial infrastructure. Countries like China and India are key contributors, with local manufacturers gaining traction alongside international brands. Latin America and the Middle East and Africa present emerging opportunities, though growth is moderated by economic volatility and varying consumer spending capacities. Each region requires tailored marketing and product strategies to address unique consumer needs and competitive dynamics, making geographic expansion a nuanced endeavor for market players.

Company Insights

Prominent companies in the recliner sofas market include La-Z-Boy Incorporated, a leader known for its extensive range of comfortable and stylish recliners, and Ashley Furniture Industries, which leverages its broad distribution network and diverse product portfolio. Man Wah Holdings, through its Chesterfield brand, has established a strong presence with a focus on innovation and quality. Other key players include Flexsteel Industries, which emphasizes durability and custom options, and Ekornes ASA, renowned for its stressless recliners with ergonomic designs. These companies compete on factors such as product innovation, brand reputation, pricing, and customer service, often investing in research and development to introduce advanced features and materials. Strategic partnerships with retailers and e-commerce platforms are common to enhance market reach and consumer accessibility. The competitive landscape is marked by continuous efforts to differentiate offerings and capture evolving consumer trends, ensuring sustained market engagement and growth.

Recent Developments

Recent developments in the recliner sofas market highlight a focus on innovation, sustainability, and market expansion. Leading manufacturers have introduced smart recliners with integrated IoT capabilities, allowing users to control functions via smartphones or voice assistants. There is a growing emphasis on sustainable practices, with companies incorporating recycled materials and eco-friendly production techniques to appeal to environmentally conscious consumers. Strategic acquisitions and partnerships have been observed, such as collaborations between furniture brands and technology firms to enhance product features. Additionally, expansion into emerging markets through localized manufacturing and distribution agreements has been a key strategy for growth. The rise of direct-to-consumer sales models has also gained momentum, enabling brands to establish closer relationships with end-users and gather valuable feedback for product improvements. These developments reflect the industry's adaptability to changing consumer demands and technological advancements, positioning it for future growth.

Report Segmentation

This market research report on the recliner sofas industry provides a detailed segmentation analysis to offer comprehensive insights into various market dimensions. The segmentation is based on type, categorizing products into manual recliners, power recliners, wall-hugger recliners, and others, each analyzed for their market share and growth potential. Application segmentation covers residential and commercial uses, with further breakdowns into sub-segments such as healthcare, hospitality, and home entertainment. Regional segmentation divides the market into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, examining regional trends, consumer behavior, and competitive landscapes. Additionally, the report includes segmentation by material, such as leather, fabric, and synthetic blends, highlighting preferences and durability aspects. Each segment is evaluated for its contribution to overall market dynamics, providing stakeholders with actionable intelligence to inform strategic decisions and identify growth opportunities.

FAQs

What are the leading companies in the recliner sofas market? Leading companies include La-Z-Boy, Ashley Furniture Industries, Man Wah Holdings, Flexsteel Industries, and Ekornes ASA, known for their innovation, quality, and market reach.

What factors are driving the growth of the recliner sofas market? Key drivers include rising disposable incomes, urbanization, demand for multifunctional furniture, and the growing aging population seeking comfort and support.

Which regions show the highest growth potential for recliner sofas? The Asia-Pacific region exhibits high growth potential due to rapid urbanization, economic development, and increasing consumer spending on home furniture.

What are the different types of recliner sofas available? Common types include manual recliners, power recliners, wall-hugger recliners, rocker recliners, push-back recliners, and sectional recliners, each catering to specific needs.

How is technology influencing the recliner sofas market? Technology integration includes features like massage functions, heating elements, USB ports, and smart controls, enhancing user convenience and driving demand.

What are the key applications of recliner sofas beyond residential use? Beyond homes, recliner sofas are used in commercial settings such as healthcare facilities, hotels, offices, and entertainment venues for enhanced comfort and functionality.

Citius Research has developed a research report titled “Recliner Sofas 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

• Recliner Sofas 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 Recliner Sofas 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.

Recliner Sofas Market Segmentation

Market Segmentation

Regions Covered

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

Recliner Sofas Market Analysis

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

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

Recliner Sofas Market Key Stakeholders

Below are the key stakeholders for the Recliner Sofas Market:

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

Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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 Recliner Sofas 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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