$3550
$2840
The North America virtual pipeline equipment market size is projected to reach US$ 867.92 million by 2031 from US$ 463.34 million in 2023. The market is expected to register a CAGR of 8.2% during 2023–2031. Growing advancements in virtual pipeline technologies are likely to be among the key future trends in the market.
North America Virtual Pipeline Equipment Market Analysis
The increasing demand for energy in North America is one of the major factors fueling the growth of the virtual pipeline equipment market. According to the US Energy Information Administration, the total primary energy consumption in the US was around 94 quadrillion British thermal units (Btu). Of this, 36% of consumed energy was from natural gas. In addition, the rising demand for cleaner and sustainable energy solutions and aging pipeline infrastructure are driving the market. Also, virtual pipeline equipment manufacturers have been witnessing substantial growth opportunities due rising consumption of gases due to reasonable prices in the US following the country's rapid increase in production. Further, the growing inclination toward the consumption of natural gas is creating an opportunity for the growth of the market in the region.
North America Virtual Pipeline Equipment Market Overview
A virtual pipeline connects natural gas and other gases from a source to consumers or companies through ways other than traditional, fixed pipelines. The functionality of the system is identical to a real pipeline but uses different modes of transit. These pipelines are important in locations where building permanent pipelines may not be practical or cost-effective. Virtual pipelines can also act as a temporary alternative while permanent pipeline infrastructure is being built. They can also be used to carry different gases to areas where building regular pipelines can be challenging due to geological, economic, or regulatory constraints.
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North America Virtual Pipeline Equipment Market: Strategic Insights
Market Size Value in US$ 431.97 million in 2022 Market Size Value by US$ 663.73 million by 2028 Growth rate CAGR of 7.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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North America Virtual Pipeline Equipment Market: Strategic Insights
| Market Size Value in | US$ 431.97 million in 2022 |
| Market Size Value by | US$ 663.73 million by 2028 |
| Growth rate | CAGR of 7.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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North America Virtual Pipeline Equipment Market Drivers and Opportunities
Increasing Energy Demand
In North America, various organizations are focused on maintaining global energy security. The US, the world's second-largest energy producer and user, continues to develop its vast fossil fuel reserves while increasing oil and gas exports. According to the US Energy Information Administration (EIA), in 2023, the total primary energy consumption of the US was equal to ~94 quadrillion Btu. The energy consumption by source in the US in 2023 is depicted in the table below:
Energy Source | 2023 |
Petroleum | 38% |
Natural Gas | 36% |
Renewable Energy | 9% |
Coal | 8% |
Nuclear | 9% |
Source: The US Energy Information Administration (EIA)
Due to several risks and challenges involved in the traditional method of supplying natural gas, the adoption of virtual pipelines has gained significant momentum. Instead of building actual pipelines, virtual pipelines are becoming a default option due to their scalability and the ease of transportation to supply fuel to final users. The deployment of physical pipelines is not always feasible due to terrain or geopolitical issues. Moreover, without increasing operating expenses or requiring further investment, the virtual pipeline equipment capacity can be expanded to meet the demand at a faster rate.
Natural gas has gained prominence as it burns cleaner than conventional fossil fuels, such as coal, gasoline, and diesel. North America is facing serious repercussions of global warming, which is compelling a shift toward cleaner energy sources and natural gas. Virtual pipelines allow natural gas companies to extend their reach, thereby allowing them to expand their footprint beyond the local market. Virtual pipelines are designed for the land transport of gas shipments in containers by rail or road; they can also be transported on the water in coastal tankers and river ships. These systems can be employed to supply natural gas to power plants and private customers in particular areas where pipeline development is restricted due to geological constraints. Virtual pipelines provide flexibility in transporting natural gas along with eliminating the need for large physical pipeline installations. Thus, the increasing energy demand drives the North America virtual pipeline market.
Growing Inclination Toward Natural Gas Consumption
According to the most recent data from upstream regulator Comisión Nacional de Hidrocarburos (CNH), Mexico witnessed natural gas production of ~4.07 billion cubic feet per day (Bcf/d) in January 2024. Also, Petróleos Mexicanos (Pemex), the state oil company, delivered 3.86 Bcf/d of total natural gas. The top five producing fields, all run by Pemex, are Quesqui (615 MMcf/d), Akal (452 MMcf/d), Ixachi (390 MMcf/d), Maloob (167 MMcf/d), and Onel (167 MMcf/d). Similarly, according to the Canada Energy Regulator (CER), in 2023, natural gas output in Canada reached an average of 17.9 Bcf/d; also, the production reached 18.8 Bcf/d in December 2023. Also, as per the EIA, the US natural gas output increased by 4% in 2023, or 5.0 Bcf/d, to an average of 125.0 Bcf/d compared to 2022. In 2023, three regions—Appalachia, the Permian, and Haynesville—accounted for 59% of total natural gas production in the US. Due to this rise in the production of natural gas, virtual pipeline vendors are continuously focusing on technological innovations, new product launches, investment in natural gas, and product approvals as well as geographic expansion to register larger consumer and market base volume. In November 2022, Pemex—a Mexican state oil company—and New Fortress Energy (NFE)—a US-based LNG company—signed a service contract to boost pipeline output while minimizing dependency on imports. These companies aim to develop a liquefaction project at the Lakach gas field in Mexico. Thus, the rising inclination toward natural gas consumption is anticipated to provide significant opportunities for the North America virtual pipeline equipment market growth during the forecast period.
North America Virtual Pipeline Equipment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the North America virtual pipeline equipment market analysis are type, gas, and application.
- Based on type, the North America virtual pipeline equipment market is categorized into decompression units, compression units, transportation units, and dispensing units. The transportation units segment held the largest market share in 2023.
- In terms of gas, the North America virtual pipeline equipment market is segmented into CNG, Hydrogen, RNG, and others. The CNG segment dominated the market in 2023.
- In terms of application, the North America virtual pipeline equipment market is categorized into utility pipeline/pipeline repair, industrial, transportation, commercial & residential, and fracking. The transportation segment dominated the market in 2023.
North America Virtual Pipeline Equipment Market Share Analysis by Geography
The geographic scope of the North America virtual pipeline equipment market report offers a detailed country analysis. According to the US Energy Information Administration Annual Energy Outlook 2023, all forms of energy consumption in the US are projected to increase from 0% to 15% between 2022 and 2050 due to population outbursts and economic growth. The energy sector in the US is majorly divided into four major end-use sectors—industrial, transportation, residential, and commercial. Energy consumption in the industrial sector is expected to rise by 5% to 32% from 2022 to 2050. In the transportation sector, energy consumption is expected to fall by 10% between 2022 and 2050 or increase by 8%. Economic growth projections heavily influence both sectors; as the economy expands, more energy is consumed. Therefore, various market players are reaching out to virtual pipeline equipment providers to deliver oil and gas. For example, in May 2022, Quantum Fuel Systems (Quantum), a fully integrated alternative energy company, was selected by Certarus Ltd. (“Certarus”) to deliver industry-leading virtual pipeline trailers for natural gas with a total value of ~US$ 22 million. The trailers were delivered in Q3 and Q4 2022.
North America Virtual Pipeline Equipment Market Report Scope
North America Virtual Pipeline Equipment Market News and Recent Developments
The North America virtual pipeline equipment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the North America virtual pipeline equipment market are listed below:
- Hexagon Agility, a business of Hexagon Composites, received an order for Mobile Pipeline TITAN modules from a leading global industrial gas company. The modules will support growth in a key industrial gas market. The order, which is estimated to be worth USD 12.8 million (approximately NOK 135 million), represents Mobile Pipeline's continued diversification into new market segments. (Source: Hexagon Agility, Press Release, July 2024)
North America Virtual Pipeline Equipment Market Report Coverage and Deliverables
The “North America Virtual Pipeline Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- North America virtual pipeline equipment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- North America virtual pipeline equipment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- North America virtual pipeline equipment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the North America virtual pipeline equipment market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Equipment Type, Gas, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, Mexico, United States, US
Frequently Asked Questions
Growing inclination toward natural gas consumption is one of the major factors likely to generate new opportunities for market vendors in the coming years.
The US dominated the North America virtual pipeline equipment market in 2023 and is likely to retain its dominance during the forecast period as well.
Growing advancements in virtual pipeline technologies is one of the major trends in the aircraft bracket market.
ANGI Energy Systems LLC, Quantum Fuel Systems LLC, Hexagon Composites ASA, Broadwind Inc, and Galileo Technologies SA are the key market players operating in the North America virtual pipeline equipment market.
Increasing energy demand and rising shale gas exploration/extraction projects are some of the major factors driving the market growth.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America Virtual Pipeline Equipment Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. North America Virtual Pipeline Equipment Market – Key Market Dynamics
5.1 North America Virtual Pipeline Equipment Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Energy Demand
5.2.2 Rising Shale Gas Exploration and Extraction Projects
5.3 Market Restraints
5.3.1 Significant Dominance of Conventional Pipeline Infrastructure
5.4 Market Opportunities
5.4.1 Growing Inclination Toward Natural Gas Consumption
5.5 Future Trends
5.5.1 Growing Advancements in Virtual Pipeline Technologies
5.6 Impact of Drivers and Restraints:
6. North America Virtual Pipeline Equipment Market Analysis
6.1 Overview
6.2 North America Virtual Pipeline Equipment Market Revenue (US$ Million), 2021–2031
6.3 North America Virtual Pipeline Equipment Market Forecast and Analysis
7. North America Virtual Pipeline Equipment Market Analysis – by Type
7.1 Decompression Units
7.1.1 Overview
7.1.2 Decompression Units: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Compression Units
7.2.1 Overview
7.2.2 Compression Units: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Transportation Units
7.3.1 Overview
7.3.2 Transportation Units: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Dispensing Units
7.4.1 Overview
7.4.2 Dispensing Units: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
8. North America Virtual Pipeline Equipment Market Analysis – by Gas
8.1 CNG
8.1.1 Overview
8.1.2 CNG: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Hydrogen
8.2.1 Overview
8.2.2 Hydrogen: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
8.3 RNG
8.3.1 Overview
8.3.2 RNG: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
9. North America Virtual Pipeline Equipment Market Analysis by Application
9.1 Utility Pipeline/Pipeline Repair
9.1.1 Overview
9.1.2 Utility Pipeline/Pipeline Repair: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Industrial
9.2.1 Overview
9.2.2 Industrial: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Transportation
9.3.1 Overview
9.3.2 Transportation: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Commercial and Residential
9.4.1 Overview
9.4.2 Commercial and Residential: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Fracking
9.5.1 Overview
9.5.2 Fracking: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
10. North America Virtual Pipeline Equipment Market – Country Analysis
10.1 North America
10.1.1 North America Virtual Pipeline Equipment Market Revenue and Forecast and Analysis – by Country
10.1.1.1 North America Virtual Pipeline Equipment Market Revenue and Forecast and Analysis – by Country
10.1.1.2 United States: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.2.1 United States: North America Virtual Pipeline Equipment Market Breakdown by Type
10.1.1.2.2 United States: North America Virtual Pipeline Equipment Market Breakdown by Gas
10.1.1.2.3 United States: North America Virtual Pipeline Equipment Market Breakdown by Application
10.1.1.3 Canada: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.3.1 Canada: North America Virtual Pipeline Equipment Market Breakdown by Type
10.1.1.3.2 Canada: North America Virtual Pipeline Equipment Market Breakdown by Gas
10.1.1.3.3 Canada: North America Virtual Pipeline Equipment Market Breakdown by Application
10.1.1.4 Mexico: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.4.1 Mexico: North America Virtual Pipeline Equipment Market Breakdown by Type
10.1.1.4.2 Mexico: North America Virtual Pipeline Equipment Market Breakdown by Gas
10.1.1.4.3 Mexico: North America Virtual Pipeline Equipment Market Breakdown by Application
11. Competitive Landscape
11.1 Company Positioning and Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Chesapeake Utilities Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Stabilis Solutions Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Algas-SDI International LLC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 ANGI Energy Systems LLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Broadwind Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Cobey Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Cryopeak LNG Solutions Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Galileo Technologies SA
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Quantum Fuel Systems LLC.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Hexagon Composites ASA
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Kinder Morgan Inc
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Xpress Natural Gas, LLC
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
13.13 Aggreko Ltd
13.13.1 Key Facts
13.13.2 Business Description
13.13.3 Products and Services
13.13.4 Financial Overview
13.13.5 SWOT Analysis
13.13.6 Key Developments
13.14 Fiba Technologies Inc
13.14.1 Key Facts
13.14.2 Business Description
13.14.3 Products and Services
13.14.4 Financial Overview
13.14.5 SWOT Analysis
13.14.6 Key Developments
13.15 CMD Alternative Energy Solutions
13.15.1 Key Facts
13.15.2 Business Description
13.15.3 Products and Services
13.15.4 Financial Overview
13.15.5 SWOT Analysis
13.15.6 Key Developments
13.16 Plum Gas Solutions LLC
13.16.1 Key Facts
13.16.2 Business Description
13.16.3 Products and Services
13.16.4 Financial Overview
13.16.5 SWOT Analysis
13.16.6 Key Developments
13.17 Chart Industries Inc
13.17.1 Key Facts
13.17.2 Business Description
13.17.3 Products and Services
13.17.4 Financial Overview
13.17.5 SWOT Analysis
13.17.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. North America Virtual Pipeline Equipment Market Segmentation
Table 2. List of Vendors
Table 3. North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Gas
Table 6. North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 7. North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 8. United States: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 9. United States: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Gas
Table 10. United States: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 11. Canada: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 12. Canada: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Gas
Table 13. Canada: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 14. Mexico: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 15. Mexico: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Gas
Table 16. Mexico: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million) – by Application
List of Figures
Figure 1. North America Virtual Pipeline Equipment Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Virtual Pipeline Equipment Market – Ecosystem Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. North America Virtual Pipeline Equipment Market Revenue (US$ Million), 2021–2031
Figure 6. North America Virtual Pipeline Equipment Market Share (%) – by Type, 2023 and 2031
Figure 7. Decompression Units: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 8. Compression Units: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 9. Transportation Units: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 10. Dispensing Units: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 11. North America Virtual Pipeline Equipment Market Share (%) – by Gas, 2023 and 2031
Figure 12. CNG: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 13. Hydrogen: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 14. RNG: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 15. Others: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 16. North America Virtual Pipeline Equipment Market Share (%) – by Application, 2023 and 2031
Figure 17. Utility Pipeline/Pipeline Repair: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 18. Industrial: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 19. Transportation: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 20. Commercial and Residential: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 21. Fracking: North America Virtual Pipeline Equipment Market– Revenue and Forecast to 2031 (US$ Million)
Figure 22. North America Virtual Pipeline Equipment Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 23. United States: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Canada: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Mexico: North America Virtual Pipeline Equipment Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Company Positioning and Concentration
The List of Companies - North America Virtual Pipeline Equipment Market
- Chesapeake Utilities Corp
- Stabilis Solutions Inc
- Algas-SDI International LLC
- ANGI Energy Systems LLC
- Broadwind Inc
- Cobey Inc
- Cryopeak LNG Solutions Corp
- Galileo Technologies SA
- Quantum Fuel Systems LLC
- Hexagon Composites ASA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Loading Device (Compressor, Generator, and Hydraulic/Oil Brake), Power Capacity [Less than 1 MW (Up to 500 KW and 500 KW to 1 MW), 1 MW to 20 MW, and More than 20 MW], End User (Oil and Gas, Power Generation, and Industrial), and Geography
Aug 2024
Green Hydrogen Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Alkaline Electrolysis and PEM Electrolysis), Renewable Source (Wind Energy, Solar Energy, and Others), and End-use Industry (Chemical, Power, Food & Beverages, Medical, Petrochemicals, and Others), and Geography
Aug 2024
Thermal Energy Storage Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: Type (Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage), Storage Material (Water, Molten Salt, PCM, Others), Application (District Heating and Cooling, Power Generation, Process Heating and Cooling), and End User (Utility, Nonutility) and Geography