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Automotive Crankshaft Market

Global Automotive Crankshaft Market Size By Product Type (Flat Plane and Cross Plane), By Material Type (Forged Steel, Cast Iron/Steel, and Machined Billet), By Vehicle Type (Passenger Vehicles, and Commercial Vehicle), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12761
  • Published Date: Aug, 2024
  • Pages: 238
  • Category: Automotive & Transportation
  • Format: PDF
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The global automotive crankshaft market is expected to reach USD 3.89 billion by 2033, at a CAGR of 2.6% from 2024 to 2033. The automotive crankshaft market has been growing due to the rising demand for high-end performance vehicles and the increased number of automobiles because of the increasing population. Apart from this, the growing demand for better-performance vehicles also adds impetus to the market's growth.

Market Overview:

The crankshaft is considered the backbone of the internal combustion engine present in of vehicles. It is often responsible for the smooth and proper operation of the engine. A crankshaft must have high wear resistance and fatigue strength to ensure the long service life of the engine. A crankshaft is a mechanical device usually treated as the heart of an automotive engine. Usually, it converts the piston’s linear reciprocating motion into a rotary motion which helps in the power transmission of the engine. Crankshafts are typically used in automobiles, including cars, trucks, and trains. It becomes challenging to move a vehicle even an inch without a crankshaft, as it is an essential connection between the input and output powers of the vehicle. Crankshafts must have wear resistance and very high fatigue strength to ensure long service life. Furthermore, the automotive crankshaft is also being used in other industries apart from the automobile industry, such as the industrial machinery sector, various industrial sectors, and printing devices. The rising demand for vehicles with better performance and quality drives the market's growth.

Automotive Crankshaft Market Size

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Market Dynamics:

Drivers
  • Increase in the automotive sector

The rising demand for vehicles to meet the increasing demand of the population for better transportation facilities is driving the market's growth as the crankshaft is an essential part of the vehicles. The growing demand for high-end performance vehicles across the globe led to potential growth in the automotive crankshaft market during the forecast period.

Restraints:
  • Covid-19 Pandemic

The Covid-19 pandemic had a significant impact on the automotive crankshaft market, as companies experienced significant delays in obtaining the raw materials. Several automotive manufacturing units were put on hold due to transit restrictions which restrained the growth of the market. Lockdown restrictions combined with workforce shortage resulted in the decline of the automotive crankshaft market.

Opportunities:
  • Increased spending on commercial as well as passenger vehicles

People in developing countries are increasing expenditures on commercial and passenger vehicles, which is an opportunity for growth during the forecast period. The increased technological advancement in the automotive industry, along with the increased purchasing power also adds to the growth of the market during the forecast period.

Challenges:
  • Huge capital requirement

There is continuous research and development required to increase the quality and performance of the automotive crankshaft. However, the huge capital requirement for research and development for improvement in the crankshafts within the automotive industry is a challenge for the growth of the market as it also increases the final price of automotive crankshafts to a certain extent. The increased price increases the burden on the customers, decreasing the demand for the vehicles.

Segmentation Analysis:

The global automotive crankshaft market has been segmented based on product type, material type, vehicle type, and regions.

  • The product type segment is divided into flat plane and cross-plane. The flat plane segment dominated the market with a market share of around 67.54% in 2023. Flat plane automotive crankshaft provides better exhaust scavenging, which drives the market's growth during the forecast period. Flat plane crankshafts are loud, simple in design, and generate vibrations in the engines of the vehicles, which propels the market's growth.
  • The material type segment is divided into forged steel, cast iron/steel, and machined billet. Over the forecast period, the forged steel segment is expected to grow at the fastest CAGR of 4.05%. The forged steel segment is leading the market owing to its ability to resist additional pressure and the higher strength they provide to the vehicle. The forged steel crankshaft is widely being used in diesel cars and heavy-duty commercial vehicles which propels the growth of the market.
  • The vehicle type segment is divided into passenger vehicles and commercial vehicles. In 2023, the passenger vehicles segment dominated the market with a market share of around 61.54%. The rapid increase in the demand for passenger vehicles across the globe drives the growth of the segment.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global automotive crankshaft market, with a 39.35% share of the market revenue in 2023.

Asia Pacific Region Automotive Crankshaft Market Share in 2023 - 39.35%

 

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  • Asia Pacific region currently dominates the automotive crankshaft market as this region comprises some fastest-growing economies in the world, including China and India. There is high demand for high-end luxury vehicles and heavy commercial vehicles in these regions, which propels the growth of the market in the region. Along with this, the region also has the presence of prominent market players, which adds to the growth of the automotive crankshaft market in the Asia Pacific region.
Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global automotive crankshaft market industry.

List of Key Market Players:
  • Maschinenfabrik ALFING Kessler
  • Sandvik
  • TIANRUN CRANKSHAFT
  • Rheinmetall
  • NSI Crankshaft,
  • Thyssenkrupp
  • Farndon Engineering
  • Kellogg Crankshaft Company
  • Bharat Forge
  • Crower Cams & Equipment
Key Target Audience
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting and Research Firm
  • Venture Capitalists
  • Third-party Knowledge Providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Automotive Crankshaft Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered the base year of the report. 2020, 2021 and 2022 are considered the historic years and 2024 to 2033 are the forecast years. The global automotive crankshaft market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global automotive crankshaft market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of automotive crankshaft based on product type, material type, vehicle type, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global automotive crankshaft market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global automotive crankshaft market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influence the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market-related i.e., global automotive crankshaft market) are covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the automotive crankshaft market was valued at USD 3.01 billion in 2023 to USD 3.89 billion by 2033.

The global automotive crankshafts market is growing at a CAGR of 2.6% during the forecast period 2024-2033.

The Asia Pacific emerged as the largest market for automotive crankshafts.

The market's growth will be influenced by the increase in the automotive sector.

Huge capital requirements could hamper market growth.

Increased spending on commercial as well as passenger vehicles will provide huge opportunities to the market.

Key players are Maschinenfabrik ALFING Kessler, Sandvik, TIANRUN CRANKSHAFT, Rheinmetall, NSI Crankshaft, Thyssenkrupp, Farndon Engineering, Kellogg Crankshaft Company, Bharat Forge, Crower Cams & Equipment

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product type
          4.3.2. Market Attractiveness Analysis By Material type
          4.3.3. Market Attractiveness Analysis By Vehicle Type
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increase in automotive sector
    5.3. Restraints
          5.3.1. Covid-19 Pandemic
    5.4. Opportunities
          5.4.1. Increased spending on commercial as well as passenger vehicles
    5.5. Challenges
          5.5.1. Huge capital requirement

6. Global Automotive Crankshaft Market Analysis and Forecast, By Product type
    6.1. Segment Overview
    6.2. Flat Plane
    6.3. Cross Plane

7. Global Automotive Crankshaft Market Analysis and Forecast, By Material type
    7.1. Forged steel
    7.2. Cast Iron/Steel
    7.3. Machined Billet

8. Global Automotive Crankshaft Market Analysis and Forecast, By Vehicle Type
    8.1. Passenger Vehicles
    8.2. Commercial Vehicle

9. Global Automotive Crankshaft Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Automotive Crankshaft Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Automotive Crankshaft Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Alchem International Ltd.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Shaanxi Jiahe Phytochem
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Nutra Green Biotechnology
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Flavour Trove
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Alpspure Lifesciences Pvt. Ltd.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Cymbio Pharma Pvt. Ltd.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Bioprex Labs
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Glentham Life Sciences
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Sabinsa Corporation
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Varion Lifesciences Pvt. Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

2. Global Flat Plane Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion) 

3. Global Cross Plane Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion) 

4. Global Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

5. Global Forged steel Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion)

6. Global Cast Iron/Steel Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion)

7. Global Machined Billet Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion) 

8. Global Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

9. Global Passenger Vehicles Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion) 

10. Global Commercial Vehicle Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion) 

11. Global Automotive Crankshaft Market, By Region, 2020-2033 (USD Billion)

12. North America Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

13. North America Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

14. North America Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

15. U.S. Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

16. U.S. Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

17. U.S. Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

18. Canada Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

19. Canada Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

20. Canada Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

21. Mexico Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

22. Mexico Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

23. Mexico Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

24. Europe Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

25. Europe Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

26. Europe Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

27. Germany Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

28. Germany Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

29. Germany Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

30. France Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

31. France Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

32. France Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

33. U.K. Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

34. U.K. Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

35. U.K. Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

36. Italy Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

37. Italy Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

38. Italy Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

39. Spain Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

40. Spain Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

41. Spain Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

42. Asia Pacific Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

43. Asia Pacific Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

44. Asia Pacific Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

45. Japan Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

46. Japan Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

47. Japan Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

48. China Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

49. China Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

50. China Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

51. India Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

52. India Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

53. India Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

54. South America Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

55. South America Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

56. South America Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

57. Brazil Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

58. Brazil Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

59. Brazil Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

60. Middle East and Africa Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

61. Middle East and Africa Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

62. Middle East and Africa Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

63. UAE Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

64. UAE Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

65. UAE Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

66. South Africa Automotive Crankshaft Market, By Product Type, 2020-2033 (USD Billion) 

67. South Africa Automotive Crankshaft Market, By Material Type, 2020-2033 (USD Billion) 

68. South Africa Automotive Crankshaft Market, By Vehicle Type, 2020-2033 (USD Billion) 

List of Figures 

1. Global Automotive Crankshaft Market Segmentation

2. Automotive Crankshaft Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Automotive Crankshaft Market Attractiveness Analysis By Product type 

9. Global Automotive Crankshaft Market Attractiveness Analysis By Material type 

10. Global Automotive Crankshaft Market Attractiveness Analysis By Vehicle Type 

11. Global Automotive Crankshaft Market Attractiveness Analysis By Region

12. Global Automotive Crankshaft Market: Dynamics

13. Global Automotive Crankshaft Market Share by Product Type (2023 & 2033)

14. Global Automotive Crankshaft Market Share by Material Type (2023 & 2033)

15. Global Automotive Crankshaft Market Share by Vehicle Type (2023 & 2033)

16. Global Automotive Crankshaft Market Share by Regions (2023 & 2033)

17. Global Automotive Crankshaft Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global automotive crankshaft market based on the below-mentioned segments:

Global Automotive Crankshaft Market by Product Type:

  • Flat Plane
  • Cross Plane

Global Automotive Crankshaft Market by Material Type:

  • Forged Steel
  • Cast Iron/Steel
  • Machined Billet

Global Automotive Crankshaft Market by Vehicle Type:

  • Passenger Vehicles
  • Commercial Vehicle

Global Automotive Crankshaft Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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