Underfloor Heating 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: CR0192577
  • Format: Electronic (PDF)
  • Number of Pages: 216
  • Author(s): Joshi, Madhavi

Report Overview

The Underfloor Heating Market size was estimated at USD 8.5 billion in 2023 and is projected to reach USD 18 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Underfloor Heating Market

(Market Size)
$8.5 billion
$18 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.50%
2023 Market Size USD 8.5 billion
2030 Market Size USD 18 billion
Key Players Uponor, Rehau, Danfoss, Warmup, Honeywell

Market Summary

The underfloor heating market represents a significant and expanding segment within the consumer goods industry, specifically in the home improvement and comfort sectors. This market encompasses systems designed to provide heating through the floor surface, offering an efficient and increasingly popular alternative to traditional radiator-based heating. The technology is favored for its ability to distribute heat evenly across a room, eliminate cold spots, and free up wall space otherwise occupied by radiators. Growth is propelled by a rising consumer focus on home energy efficiency, enhanced interior comfort, and smart home integration. The market caters to both new construction projects and the renovation sector, with products ranging from electric systems to hydronic (water-based) solutions. Manufacturers and suppliers are continuously innovating to improve system responsiveness, control ease via digital thermostats and smartphone apps, and overall installation flexibility to appeal to a broader customer base.

Key Highlights

The underfloor heating market is characterized by several pivotal developments that underscore its evolution and commercial appeal. A primary highlight is the seamless integration with smart home ecosystems, allowing users to control heating zones remotely for optimal energy management and personalized comfort. Technological advancements have led to the development of low-profile systems that minimize floor buildup, making retrofitting in existing properties far more feasible and less disruptive. There is a notable trend towards the use of sustainable materials and compatibility with renewable energy sources, such as solar thermal and air-source heat pumps, aligning with global sustainability goals. The market is also witnessing a proliferation of DIY-friendly electric mat and foil systems, which lower installation barriers for homeowners. Furthermore, leading industry players are investing heavily in research and development to enhance product durability, reduce warm-up times, and offer comprehensive warranty packages, thereby increasing consumer confidence and driving adoption rates across both residential and commercial applications.

Drivers, Opportunities & Restraints

The growth trajectory of the underfloor heating market is influenced by a confluence of driving forces, promising opportunities, and notable constraints. Key drivers include the escalating consumer demand for energy-efficient heating solutions that reduce utility costs and carbon footprints. The growing construction industry, particularly for luxury residential and commercial spaces where comfort is a premium feature, significantly propels market demand. Additionally, government initiatives and subsidies in various regions promoting energy-efficient buildings and the adoption of renewable energy sources act as a strong catalyst for market expansion. Opportunities abound in the untapped potential of emerging economies in Asia-Pacific and Latin America, where rising disposable incomes and urbanization are creating new markets. The integration with Internet of Things (IoT) for predictive maintenance and advanced zoning presents a substantial avenue for innovation and value addition. However, the market faces restraints, primarily the high initial installation cost compared to conventional systems, which can deter price-sensitive consumers. The complexity of installing hydronic systems, often requiring professional expertise and significant structural modifications, also acts as a barrier to entry for some homeowners and can slow down adoption in the retrofit segment.

Concentration Insights

The global underfloor heating market exhibits a concentration of key players and technological innovation primarily within Europe and North America. Europe, particularly countries like Germany, the UK, and the Nordic nations, represents a mature and highly concentrated market due to cold climatic conditions, high energy costs, and strong consumer awareness regarding heating efficiency. This region is home to several established industry leaders such as Uponor, REHAU, and nVent Electric. The market structure is moderately consolidated, with a handful of major corporations holding significant market share through extensive product portfolios, strong brand recognition, and robust distribution networks. However, the landscape also includes a considerable number of small and medium-sized enterprises that compete on the basis of specialized products, regional presence, and competitive pricing. In emerging markets, the concentration is more fragmented, with local players catering to domestic demand. The competitive intensity is high, with companies focusing on strategic initiatives like mergers and acquisitions, partnerships with construction firms, and geographic expansion to strengthen their market position and capture a larger consumer base.

Type Insights

The underfloor heating market is fundamentally segmented into two primary system types: hydronic (water-based) systems and electric systems. Hydronic systems circulate warm water through a network of pipes installed beneath the floor. This type is renowned for its operational efficiency in heating large areas and is often the preferred choice for whole-house heating in new constructions, despite its higher upfront installation cost and complexity. Electric systems utilize heating cables or mats that generate heat when an electric current passes through them. These systems are generally easier and less expensive to install, making them exceptionally popular for retrofitting in existing homes and for heating smaller spaces like bathrooms and kitchens. Innovations within electric systems have led to the development of ultra-thin heating mats and carbon film heaters, which offer rapid heat-up times and minimal impact on floor height. The choice between system types is largely influenced by project scope, budget constraints, property type (new build vs. retrofit), and long-term running cost considerations, with each type holding a distinct value proposition for different consumer segments.

Application Insights

Underfloor heating systems find diverse applications across residential, commercial, and industrial sectors, with the residential segment dominating market demand. Within residential applications, the technology is installed in single-family homes, apartments, and luxury villas to provide primary or supplemental heating, enhancing living comfort and property value. Key areas of installation include bathrooms, kitchens, living rooms, and basements. The commercial application segment is substantial and includes offices, retail spaces, hotels, hospitals, and educational institutions. In these settings, underfloor heating is valued for creating a comfortable environment for occupants while also offering design flexibility by eliminating visible radiators and improving space utilization. Industrial applications, though a smaller segment, utilize underfloor heating in facilities such as warehouses and aircraft hangars where preventing frost and maintaining a specific ambient temperature is crucial for operations. The growing trend of radiant heating in green building projects and smart offices is further expanding the application scope of these systems beyond traditional uses.

Regional Insights

The adoption and penetration of underfloor heating systems vary significantly across different geographic regions, influenced by climate, economic development, energy policies, and consumer preferences. Europe stands as the largest and most mature market, driven by cold winters, high energy efficiency standards, and a well-established infrastructure for home improvement. Countries like Germany, Sweden, and the UK are at the forefront of adoption. North America represents another significant market, with growing demand in both the United States and Canada, particularly in regions experiencing harsh winter conditions. The Asia-Pacific region is identified as the fastest-growing market, fueled by rapid urbanization, a booming construction sector, and rising awareness of modern heating solutions in countries such as China, South Korea, and Japan. Emerging economies in Latin America and the Middle East & Africa are also witnessing gradual growth, albeit from a smaller base, as economic development and changing lifestyles begin to create demand for advanced home comfort technologies like underfloor heating.

Company Insights

The competitive landscape of the underfloor heating market features a mix of multinational corporations and specialized regional players. Prominent companies such as Uponor Corporation, REHAU AG, nVent Electric, Danfoss A/S, and Emerson Electric Co. are recognized for their comprehensive product offerings, strong technical expertise, and global distribution channels. These industry leaders compete on factors including product innovation, energy efficiency, system reliability, and the ability to provide integrated solutions that include thermostats and control systems. Many companies are focusing on developing environmentally sustainable products that are compatible with heat pumps and other renewable energy sources. Other notable players like Warmup PLC, Honeywell International Inc., and Robert Bosch GmbH have also established strong brand equity through a focus on smart, Wi-Fi enabled controls and user-friendly installation systems. The strategy for most companies involves continuous investment in research and development, strategic acquisitions to expand product portfolios, and forging strong partnerships with builders, architects, and distributors to enhance market penetration.

Recent Developments

The underfloor heating market has been dynamic, with several recent developments shaping its future. A prominent trend is the accelerated integration of artificial intelligence and machine learning into system controls, enabling predictive heating patterns that optimize energy use based on weather forecasts and user behavior. Companies are increasingly launching ultra-low-profile electric systems designed specifically for retrofitting, which can be installed directly under existing floor coverings with minimal disruption. There has been a notable surge in partnerships between underfloor heating manufacturers and renewable energy technology providers to create fully integrated, sustainable heating solutions. Furthermore, the focus on improving the sustainability profile of products has led to innovations in recyclable materials for piping and cables. The market has also seen key mergers and acquisitions, allowing larger entities to consolidate their market presence and acquire new technologies, thereby expanding their capability to offer end-to-end heating solutions to a global clientele.

Report Segmentation

This market research report on the underfloor heating market provides a detailed and structured analysis segmented across multiple dimensions to offer comprehensive insights. The segmentation is primarily based on type, categorizing the market into hydronic (water-based) systems and electric systems, with further breakdowns into heating mats, heating cables, and manifolds & pumps. The report is segmented by application into residential, commercial, and industrial sectors, providing depth on adoption trends and growth potential in each. Geographically, the analysis is divided into key regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with country-level analysis for major markets within these regions. This multi-faceted segmentation allows for a granular understanding of market dynamics, customer preferences, and competitive landscapes specific to each segment, enabling businesses to identify niche opportunities, tailor their strategies, and make informed decisions regarding investment and market entry.

FAQs

What are the main types of underfloor heating systems? The two primary types are hydronic systems, which use warm water circulated through pipes, and electric systems, which use heating cables or mats.

Is underfloor heating expensive to run? Operating costs depend on the system type, insulation, and energy tariffs, but they are generally considered efficient and can be cheaper than traditional radiators for whole-house heating.

Can you install underfloor heating under any floor covering? Most systems are compatible with popular floorings like tile and stone, but suitability for wood, laminate, or vinyl depends on the specific system and manufacturer guidelines.

How long does it take to install an underfloor heating system? Installation time varies; electric systems can often be fitted in a day or two, while more complex hydronic systems may take several days, especially in new constructions.

Does underfloor heating work with heat pumps? Yes, hydronic underfloor systems are highly compatible with air-source and ground-source heat pumps, forming an extremely energy-efficient combination.

What is the lifespan of an underfloor heating system? A properly installed and maintained system is very durable, with electric systems lasting over 20 years and hydronic systems often exceeding 50 years.

Citius Research has developed a research report titled “Underfloor Heating 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

• Underfloor Heating 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 Underfloor Heating 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.

Underfloor Heating Market Segmentation

Market Segmentation

Regions Covered

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

Underfloor Heating Market Analysis

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

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

Underfloor Heating Market Key Stakeholders

Below are the key stakeholders for the Underfloor Heating Market:

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

Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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 Underfloor Heating 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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