Study Period | 2019-2032 |
Base Year | 2023 |
Forcast Year | 2023-2032 |
CAGR | 7.48 |
Automotive Electronic Parking Brake Market Analysis Report 2023-2032: The Automotive Electronic Parking Brake Market size is projected to grow at a CAGR of 5.2% between 2022 and 2032. The market size is forecast to increase by USD 8,740.92 million during this period. Several factors are influencing the growth of this market, including the increasing adoption of advanced driver assistance systems (ADAS), the rise in demand for electric and hybrid vehicles, and the focus on improving vehicle safety and automation. An electronic parking brake (EPB) is an automotive technology that replaces the traditional handbrake lever with an electronically controlled mechanism, offering benefits such as space-saving design and enhanced safety features. EPB systems can be engaged and disengaged at the touch of a button, making them more convenient and efficient compared to traditional handbrake systems.
Automotive Electronic Parking Brake Market Overview
Drivers:
Furthermore, the growing demand for electric and hybrid vehicles is bolstering the market for electronic parking brakes. These vehicles often incorporate EPB systems due to their compatibility with electric drivetrains. As electric and hybrid vehicles gain popularity, the demand for EPB systems is expected to rise significantly.
Trends:
Additionally, the development of EPB systems with regenerative braking capabilities is gaining traction. These systems can recover and store energy during braking, improving overall vehicle efficiency and reducing energy consumption.
Restraints:
Moreover, concerns about system reliability and potential electronic failures have led to reservations among some consumers regarding the widespread adoption of EPB systems.
Automotive Electronic Parking Brake Market Segmentation by Vehicle Type
Passenger Cars Segment: The passenger cars segment is expected to witness substantial growth during the forecast period. Electronic parking brakes have become a common feature in modern passenger vehicles, offering convenience and enhanced safety. Many automakers are standardizing EPB systems in their passenger car models. These systems provide advantages such as hill-start assist, automatic hold, and improved parking accuracy.
Commercial Vehicles Segment: While the adoption of electronic parking brakes in commercial vehicles is relatively lower compared to passenger cars, it is steadily increasing. Commercial vehicles, including trucks and buses, are incorporating EPB systems to enhance safety and ease of operation, especially in urban and stop-and-go traffic conditions.
Automotive Electronic Parking Brake Market Segmentation by Technology
Conventional EPB Systems: Conventional EPB systems are the most prevalent in the market. They utilize standard electronic control units (ECUs) and actuators to engage and disengage the parking brake. These systems are known for their reliability and ease of integration into various vehicle models.
Integrated EPB Systems: Integrated EPB systems are gaining popularity due to their seamless integration with vehicle automation and connectivity technologies. These systems offer advanced features such as remote parking, auto-hold, and intelligent parking assistance.
Geographical Overview
North America: North America is anticipated to contribute significantly to the growth of the global automotive electronic parking brake market. The region has a robust automotive industry with a growing demand for advanced safety and automation features. The adoption of electronic parking brakes in North American vehicles is expected to continue increasing.
Europe: Europe is a prominent market for automotive electronic parking brakes, driven by stringent safety regulations and the presence of leading automobile manufacturers. European consumers prioritize safety features, making EPB systems a popular choice in the region.
Asia-Pacific (APAC): APAC is poised to be a key growth driver for the global automotive electronic parking brake market. The region's burgeoning automotive industry, especially in countries like China and India, is fueling the demand for EPB systems. Additionally, the shift towards electric and hybrid vehicles in APAC is further boosting the adoption of EPB technology.
Latin America, Middle East, and Africa (LAMEA): LAMEA is expected to witness moderate growth in the automotive electronic parking brake market. While the adoption rate may be slower compared to other regions, it is influenced by factors such as increasing urbanization and the gradual penetration of advanced vehicle technologies.
Automotive Electronic Parking Brake Market Customer Landscape
The automotive electronic parking brake market report includes an analysis of the customer landscape, covering various stages of customer adoption, from early adopters to mainstream customers. It assesses customer preferences, purchase criteria, and price sensitivity, providing valuable insights for companies to tailor their strategies.
Major Companies in the Automotive Electronic Parking Brake Market
Companies in the automotive electronic parking brake market are implementing diverse strategies to strengthen their market presence. These strategies include strategic partnerships, mergers and acquisitions, geographical expansion, and the launch of innovative products and services.
Some of the key players in the market include:
Segment Overview
The automotive electronic parking brake market report provides revenue forecasts at the global, regional, and country levels, along with an analysis of emerging trends and growth opportunities from 2019 to 2032. The segmentation of the market includes:
Vehicle Type Outlook (USD Million, 2019 - 2032)
Technology Outlook (USD Million, 2019 - 2032)
Geography Outlook (USD Million, 2019 - 2032)
Table of Contents
Chapter 1 Automotive Electronic Parking Brake Market Overview
1.1 Automotive Electronic Parking Brake Definition
1.2 Global Automotive Electronic Parking Brake Market Size Status and Outlook (2013-2028)
1.3 Global Automotive Electronic Parking Brake Market Size Comparison by Region (2013-2028)
1.4 Global Automotive Electronic Parking Brake Market Size Comparison by Type (2013-2028)
1.5 Global Automotive Electronic Parking Brake Market Size Comparison by Application (2013-2028)
1.6 Global Automotive Electronic Parking Brake Market Size Comparison by Sales Channel (2013-2028)
1.7 Automotive Electronic Parking Brake Market Dynamics
1.7.1 Market Drivers/Opportunities
1.7.2 Market Challenges/Risks
1.7.3 Market News (Mergers/Acquisitions/ Expansion)
Chapter 2 Automotive Electronic Parking Brake Market Segment Analysis by Player
2.1 Global Automotive Electronic Parking Brake Sales and Market Share by Player (2016-2018)
2.2 Global Automotive Electronic Parking Brake Revenue and Market Share by Player (2016-2018)
2.3 Global Automotive Electronic Parking Brake Average Price by Player (2016-2018)
2.4 Players Competition Situation & Trends
2.5 Conclusion of Segment by Player
Chapter 3 Automotive Electronic Parking Brake Market Segment Analysis by Type
3.1 Global Automotive Electronic Parking Brake Market by Type
3.1.1 Manual
3.1.2 Electrical
3.2 Global Automotive Electronic Parking Brake Sales and Market Share by Type (2013-2018)
3.3 Global Automotive Electronic Parking Brake Revenue and Market Share by Type (2013-2018)
3.4 Global Automotive Electronic Parking Brake Average Price by Type (2013-2018)
3.5 Leading Players of Automotive Electronic Parking Brake by Type in 2017
3.6 Conclusion of Segment by Type
Chapter 4 Automotive Electronic Parking Brake Market Segment Analysis by Application
4.1 Global Automotive Electronic Parking Brake Market by Application
4.1.1 OEMs
4.1.2 Aftermarkets
4.2 Global Automotive Electronic Parking Brake Sales and Market Share by Application (2013-2018)
4.3 Leading Consumers of Automotive Electronic Parking Brake by Application in 2017
4.4 Conclusion of Segment by Application
Chapter 5 Automotive Electronic Parking Brake Market Segment Analysis by Sales Channel
5.1 Global Automotive Electronic Parking Brake Market by Sales Channel
5.1.1 Direct Channel
5.1.2 Distribution Channel
5.2 Global Automotive Electronic Parking Brake Sales and Market Share by Sales Channel (2013-2018)
5.3 Leading Distributors/Dealers of Automotive Electronic Parking Brake by Sales Channel in 2017
5.4 Conclusion of Segment by Sales Channel
Chapter 6 Automotive Electronic Parking Brake Market Segment Analysis by Region
6.1 Global Automotive Electronic Parking Brake Market Size and CAGR by Region (2013-2028)
6.2 Global Automotive Electronic Parking Brake Sales and Market Share by Region (2013-2018)
6.3 Global Automotive Electronic Parking Brake Revenue and Market Share by Region (2013-2018)
6.4 North America
6.4.1 North America Market by Country
6.4.2 North America Automotive Electronic Parking Brake Market Share by Type
6.4.3 North America Automotive Electronic Parking Brake Market Share by Application
6.4.4 United States
6.4.5 Canada
6.4.6 Mexico
6.5 Europe
6.5.1 Europe Market by Country
6.5.2 Europe Automotive Electronic Parking Brake Market Share by Type
6.5.3 Europe Automotive Electronic Parking Brake Market Share by Application
6.5.4 Germany
6.5.5 UK
6.5.6 France
6.5.7 Italy
6.5.8 Russia
6.5.9 Spain
6.6 Asia-Pacific
6.6.1 Asia-Pacific Market by Country
6.6.2 Asia-Pacific Automotive Electronic Parking Brake Market Share by Type
6.6.3 Asia-Pacific Automotive Electronic Parking Brake Market Share by Application
6.6.4 China
6.6.5 Japan
6.6.6 Korea
6.6.7 India
6.6.8 Southeast Asia
6.6.9 Australia
6.7 South America
6.7.1 South America Market by Country
6.7.2 South America Automotive Electronic Parking Brake Market Share by Type in 2017
6.7.3 South America Automotive Electronic Parking Brake Market Share by Application in 2017
6.7.4 Brazil
6.7.5 Argentina
6.7.6 Colombia
6.7.7 Chile
6.8 Middle East & Africa
6.8.1 Middle East & Africa Market by Country
6.8.2 Middle East & Africa Automotive Electronic Parking Brake Market Share by Type
6.8.3 Middle East & Africa Automotive Electronic Parking Brake Market Share by Application
6.8.4 Egypt
6.8.5 Saudi Arabia
6.8.6 South Africa
6.8.7 Nigeria
6.9 Conclusion of Segment by Region
Chapter 7 Profile of Leading Automotive Electronic Parking Brake Players
7.1 Continental
7.1.1 Company Snapshot
7.1.2 Product/Business Offered
7.1.3 Business Performance (Sales, Price, Revenue, Gross Margin and Market Share)
7.1.4 Strategy and SWOT Analysis
7.2 Bosch
7.3 Aisin Seiki
7.4 ZF TRW
7.5 ADVICS
7.6 Akebono
7.7 KUSTER Automotive Control Systems
7.8 DURA Automotive Systems
7.9 HYUNDAI MOBIS
7.10 SKF
7.11 Mando-Hella Electronics
Chapter 8 Upstream and Downstream Analysis of Automotive Electronic Parking Brake
8.1 Industrial Chain of Automotive Electronic Parking Brake
8.2 Upstream of Automotive Electronic Parking Brake
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.2.4 Manufacturing Cost Structure
8.2.5 Manufacturing Process
8.3 Downstream of Automotive Electronic Parking Brake
8.3.1 Leading Distributors/Dealers of Automotive Electronic Parking Brake
8.3.2 Leading Consumers of Automotive Electronic Parking Brake
Chapter 9 Development Trend of Automotive Electronic Parking Brake (2018-2028)
9.1 Global Automotive Electronic Parking Brake Market Size (Sales and Revenue) Forecast (2018-2028)
9.2 Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Region (2018-2028)
9.3 Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Type (2018-2028)
9.4 Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Application (2018-2028)
9.5 Global Automotive Electronic Parking Brake Market Size Forecast by Sales Channel (2018-2028)
Chapter 10 Appendix
10.1 Research Methodology
10.2 Data Sources
10.3 Disclaimer
10.4 Analysts Certification
List of Tables and Figures
Figure Automotive Electronic Parking Brake Example
Figure Global Automotive Electronic Parking Brake Revenue (Million $) Status and Outlook (2013-2028)
Figure Global Automotive Electronic Parking Brake Revenue (Million $) Comparison by Region (2013-2028)
Figure Global Automotive Electronic Parking Brake Sales Comparison by Type (2013-2028)
Figure Global Automotive Electronic Parking Brake Sales Comparison by Application (2013-2028)
Figure Global Automotive Electronic Parking Brake Sales Comparison by Sales Channel (2013-2028)
Table Global Automotive Electronic Parking Brake Sales by Player (2016-2018)
Table Global Automotive Electronic Parking Brake Sales Market Share by Player (2016-2018)
Figure Global Automotive Electronic Parking Brake Sales Market Share by Player in 2017
Table Global Automotive Electronic Parking Brake Revenue (Million $) by Player (2016-2018)
Table Global Automotive Electronic Parking Brake Revenue Market Share by Player (2016-2018)
Figure Global Automotive Electronic Parking Brake Revenue Market Share by Player in 2017
Table Global Automotive Electronic Parking Brake Average Price by Player (2016-2018)
Figure Global Automotive Electronic Parking Brake Average Price by Player in 2017
Figure Global Automotive Electronic Parking Brake Players Competition Situation - Top 5 Players' Revenue Market Share in 2017
Figure Global Automotive Electronic Parking Brake Players Competition Trends - Top 5 Players' Revenue Market Share in 2018
Figure Example of Manual
Figure Global Manual Sales and Growth Rate (2013-2018)
Figure Example of Electrical
Figure Global Electrical Sales and Growth Rate (2013-2018)
Table Global Automotive Electronic Parking Brake Sales by Type (2013-2018)
Table Global Automotive Electronic Parking Brake Sales Market Share by Type (2013-2018)
Figure Global Automotive Electronic Parking Brake Sales Market Share by Type in 2017
Table Global Automotive Electronic Parking Brake Revenue (Million $) by Type (2013-2018)
Table Global Automotive Electronic Parking Brake Revenue Market Share by Type (2013-2018)
Figure Global Automotive Electronic Parking Brake Revenue Market Share by Type in 2017
Table Global Automotive Electronic Parking Brake Average Price by Type (2013-2018)
Figure Global Automotive Electronic Parking Brake Average Price by Type in 2017
Table Leading Players of Automotive Electronic Parking Brake by Type in 2017
Figure Example of OEMs
Figure Global Automotive Electronic Parking Brake for OEMs Sales and Growth Rate (2013-2018)
Figure Example of Aftermarkets
Figure Global Automotive Electronic Parking Brake for Aftermarkets Sales and Growth Rate (2013-2018)
Table Global Automotive Electronic Parking Brake Sales by Application (2013-2018)
Table Global Automotive Electronic Parking Brake Sales Market Share by Application (2013-2018)
Figure Global Automotive Electronic Parking Brake Sales Market Share by Application in 2017
Table Leading Consumers of Automotive Electronic Parking Brake by Application in 2017
Figure Example of Direct Channel
Figure Global Automotive Electronic Parking Brake for Direct Channel Sales and Growth Rate (2013-2018)
Figure Example of Distribution Channel
Figure Global Automotive Electronic Parking Brake for Distribution Channel Sales and Growth Rate (2013-2018)
Table Global Automotive Electronic Parking Brake Sales by Sales Channel (2013-2018)
Table Global Automotive Electronic Parking Brake Sales Market Share by Sales Channel (2013-2018)
Figure Global Automotive Electronic Parking Brake Sales Market Share by Sales Channel in 2017
Table Leading Distributors/Dealers of Automotive Electronic Parking Brake by Sales Channel in 2017
Table Global Automotive Electronic Parking Brake Market Size and CAGR by Region (2013-2028)
Table Global Automotive Electronic Parking Brake Sales by Region (2013-2018)
Table Global Automotive Electronic Parking Brake Sales Market Share by Region (2013-2018)
Figure Global Automotive Electronic Parking Brake Sales Market Share by Region in 2017
Table Global Automotive Electronic Parking Brake Revenue (Million $) by Region (2013-2018)
Table Global Automotive Electronic Parking Brake Revenue Market Share by Region (2013-2018)
Figure Global Automotive Electronic Parking Brake Revenue Market Share by Region in 2017
Table North America Automotive Electronic Parking Brake Sales by Country (2013-2018)
Figure North America Automotive Electronic Parking Brake Sales Market Share by Country (2013-2018)
Table North America Automotive Electronic Parking Brake Revenue by Country (2013-2018)
Figure North America Automotive Electronic Parking Brake Revenue Market Share by Country (2013-2018)
Figure North America Automotive Electronic Parking Brake Sales Market Share by Type in 2017
Figure North America Automotive Electronic Parking Brake Sales Market Share by Application in 2017
Figure United States Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure United States Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Canada Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Canada Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Mexico Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Mexico Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Table Europe Automotive Electronic Parking Brake Sales by Country (2013-2018)
Figure Europe Automotive Electronic Parking Brake Sales Market Share by Country (2013-2018)
Table Europe Automotive Electronic Parking Brake Revenue by Country (2013-2018)
Figure Europe Automotive Electronic Parking Brake Revenue Market Share by Country (2013-2018)
Figure Europe Automotive Electronic Parking Brake Sales Market Share by Type in 2017
Figure Europe Automotive Electronic Parking Brake Sales Market Share by Application in 2017
Figure Germany Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Germany Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure UK Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure UK Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure France Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure France Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Italy Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Italy Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Russia Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Russia Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Spain Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Spain Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Table Asia-Pacific Automotive Electronic Parking Brake Sales by Country (2013-2018)
Figure Asia-Pacific Automotive Electronic Parking Brake Sales Market Share by Country (2013-2018)
Table Asia-Pacific Automotive Electronic Parking Brake Revenue by Country (2013-2018)
Figure Asia-Pacific Automotive Electronic Parking Brake Revenue Market Share by Country (2013-2018)
Figure Asia-Pacific Automotive Electronic Parking Brake Sales Market Share by Type in 2017
Figure Asia-Pacific Automotive Electronic Parking Brake Sales Market Share by Application in 2017
Figure China Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure China Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Japan Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Japan Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Korea Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Korea Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure India Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure India Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Southeast Asia Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Southeast Asia Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Australia Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Australia Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Table South America Automotive Electronic Parking Brake Sales by Country (2013-2018)
Figure South America Automotive Electronic Parking Brake Sales Market Share by Country (2013-2018)
Table South America Automotive Electronic Parking Brake Revenue by Country (2013-2018)
Figure South America Automotive Electronic Parking Brake Revenue Market Share by Country (2013-2018)
Figure South America Automotive Electronic Parking Brake Sales Market Share by Type in 2017
Figure South America Automotive Electronic Parking Brake Sales Market Share by Application in 2017
Figure Brazil Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Brazil Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Argentina Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Argentina Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Colombia Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Colombia Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Chile Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Chile Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Table Middle East & Africa Automotive Electronic Parking Brake Sales by Country (2013-2018)
Figure Middle East & Africa Automotive Electronic Parking Brake Sales Market Share by Country (2013-2018)
Table Middle East & Africa Automotive Electronic Parking Brake Revenue by Country (2013-2018)
Figure Middle East & Africa Automotive Electronic Parking Brake Revenue Market Share by Country (2013-2018)
Figure Middle East & Africa Automotive Electronic Parking Brake Sales Market Share by Type in 2017
Figure Middle East & Africa Automotive Electronic Parking Brake Sales Market Share by Application in 2017
Figure Egypt Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Egypt Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Saudi Arabia Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Saudi Arabia Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure South Africa Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure South Africa Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Figure Nigeria Automotive Electronic Parking Brake Sales and Growth Rate (2013-2018)
Figure Nigeria Automotive Electronic Parking Brake Revenue (Million $) and Growth Rate (2013-2018)
Table Company Snapshot of Continental
Table Automotive Electronic Parking Brake Introduction of Continental
Table Automotive Electronic Parking Brake Sales, Price, Revenue, Gross Margin and Market Share of Continental (2016-2018)
Table Industrial Chain of Automotive Electronic Parking Brake
Table Manufacturing Cost Structure of Automotive Electronic Parking Brake
Table General Manufacturing Process of Automotive Electronic Parking Brake
Table Leading Distributors/Dealers of Automotive Electronic Parking Brake
Table Leading Consumers of Automotive Electronic Parking Brake
Figure Global Automotive Electronic Parking Brake Sales and Growth Rate Forecast (2018-2028)
Figure Global Automotive Electronic Parking Brake Revenue and Growth Rate Forecast (2018-2028)
Table Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Region (2018-2028)
Table Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Type (2018-2028)
Table Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Application (2018-2028)
Table Global Automotive Electronic Parking Brake Market Size and CAGR Forecast by Sales Channel (2018-2028)
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now letās take a closer look at the research methods here.
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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