Precast Concrete Market

Precast Concrete Market Size by Product Type (Architectural Building Components, Waste and water Handling Products, Transportation Products, Structural Building Components and Others), Construction Type (Permanent Modular Building, Elemental Constructions and Relocate Buildings), End-users (Commercial, Residential, and Industrial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12749
  • Published Date: Jul, 2024
  • Pages: 235
  • Category: Chemicals & Materials
  • Format: PDF
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The global precast concrete market was valued at USD 129.11 Billion in 2023 and grew at a CAGR of 6.97% from 2024 to 2033. The market is expected to reach USD 253.27 Billion by 2033. The demand for precast concrete is increasing due to the rising investment in commercial and residential applications.

Market Introduction:

Precast concrete is created by pouring concrete into a mould at a factory or facility. After curing, the concrete product is delivered to the building site and installed as a completed item. These big concrete panels can be used for inside or external wall construction. They are made in various sizes and shapes based on the specific load requirements and are used to give structural support to buildings or bridges. Precast concrete offers several advantages when repairing damaged concrete structures, including cost, ease of construction, excellent quality, and durability. Precast concrete is a material that is movable and is cast in one location for use in another. Precast manufacture is mostly done in the facilities of specialized suppliers, though occasionally, because of access issues, product size, or economic and geographic considerations, the elements are cast on or close to the construction site.

Precast Concrete Market Size

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Market Dynamics:

Drivers

Usage across different applications: Precast concrete is utilized in parking facilities in various ways. For instance, columns, paving slabs, architectural veneer, and stairways are made using precast concrete. Large-level, mid-rise, and single-level parking facilities all use precast concrete. Concrete precast foundations are used in many buildings, including residential ones. As precast concrete materials offer a moisture-free and energy-efficient basement, they are a popular alternative for many conventional products. Many organizations utilize these precast concrete walls because they are a great way to block out undesirable noise. Precast concrete may endure harsh climates even with continuous use and persist for many decades. It is perfect for many agricultural applications, such as slurry channels, cattle grids, concrete panels, and bunker silos. Precast concrete is an excellent material for wastewater and water industries since it may contain or hold oil, water, or other liquids.

Restraints:

High investment: A large initial investment is needed for the heavy and complex machinery to build a precast concrete plant. To guarantee enough profit, a sizable number of precast construction projects must be accessible. Thus, the high investment in precast concrete manufacturing reduces demand for industrial and infrastructural applications.

Opportunities:

Expansion of the construction industry: Trends in the international construction industry have rapidly evolved during the past few decades. In both industrialized and developing regions, there has been a rise in the construction of residential and commercial buildings. Additionally, the market expansion for precast concrete has been fueled by the quickening pace of urbanization and rising per capita income. In addition, the regional government has expanded the amount of money it has set aside for infrastructure development. Governments worldwide, particularly those in developing nations, have introduced several initiatives to encourage the growth of commercial spaces. The rapidly increasing global population will increase demand for civil engineering and general building, even as economic factors continue to play a part in the construction industry's global expansion. The construction industry has been the most affected by the invention and use of precast concrete of all the industries concerned.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia-Pacific emerged as the most significant precast concrete market, with a 42.14% market revenue share in 2023.

Asia-Pacific region will account for the largest market share with revenue growth. Nations such as India, China and Japan have a tremendous demand for precast concrete due to growing commercial, residential and industrial usage. Further, the growing population in the region is promoting the growth of the construction industry. Many end-users are utilizing cost-effective and low-maintenance solutions, which are leading to high demand for precast concrete. Modern construction is on the rise in the region, and these buildings require the use of precast concrete.

Asia-Pacific Region Precast Concrete Market Share in 2023 - 42.14%

 

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Product Type Segment Analysis

The product type segment is divided into architectural building components, waste & water handling products, transportation products, structural building components and others. The structural building components segment dominated the market, with a share of around 42.88% in 2023. The main load-bearing elements of a structure are its structural components, each of which has unique structural characteristics that must be considered. Any structure's foundation is its most important structural element, and more failures than any other reason are likely the result of poor foundation construction.

Construction Type Segment Analysis

The construction type segment is divided into permanent modular buildings, elemental constructions and relocate buildings. The elemental constructions segment dominated the market, with a share of around 51.55% in 2023. Buildings constructed using the elemental construction method are composed of precast concrete plant components. The three elemental construction supplies include cement, ready-mix concrete, aggregates, and additional building supplies.

End-users Segment Analysis

The end-users segment is divided into commercial, residential, and industrial. The commercial segment dominated the market, with a share of around 51.05% in 2023. Precast concrete is a quick and affordable building material that works well to construct commercial structures. Precast concrete panels are the perfect building material for various commercial projects, including office, warehouse and showroom development.

Some of the Key Market Players:
  • Boral Ltd.
  • Gulf Precast Concrete Co. L.L.C.
  • Olson Precast Company
  • Forterra Pipe
  • CEMEX S.A.B. de C.V.
  • Tindall Corp.
  • Precast L.L.C.
  • Komatsu Ltd.
  • Kiewit Corporation
  • Balfour Beatty plc
  • Laing O’Rourke
  • A.C.S. Group
  • Bouygues Construction
  • Larsen & Toubro Limited
  • Taisei Corporation
  • Elematic

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 129.11 Billion
Market size value in 2033 USD 253.27 Billion
CAGR (2024 to 2033) 6.97%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Product Type, Construction Type and End-users

Frequesntly Asked Questions

As per The Brainy Insights, the size of the precast concrete market was valued USD 129.11 billion in 2023 to USD 253.27 billion by 2033.

Global precast concrete market is growing at a CAGR of 6.97% during the forecast period 2024-2033.

Asia Pacific region emerged as the largest market for the precast concrete.

The market's growth will be influenced by the rising usage of precast concrete in different applications.

The high instalment cost of manufacturing machinery can hamper the market growth.

The rising investment in construction industry is providing lucrative opportunities to the market.

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 Construction Type
          4.3.3. Market Attractiveness Analysis by End-users
          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. Increasing use of precast concrete in different applications
    5.3. Restraints
          5.3.1. High installation cost of machinery
    5.4. Opportunities
          5.4.1. Increasing growth of construction industry
    5.5. Challenges
          5.5.1. Handling difficulties

6. Global Precast Concrete Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Architectural Building Components
    6.3. Waste & Water Handling Products
    6.4. Transportation Products
    6.5. Structural Building Components
    6.6. Others

7. Global Precast Concrete Market Analysis and Forecast, By Construction Type
    7.1. Segment Overview
    7.2. Permanent Modular Building
    7.3. Elemental Constructions
    7.4. Relocate Buildings

8. Global Precast Concrete Market Analysis and Forecast, By End-users
    8.1. Segment Overview
    8.2. Commercial
    8.3. Residential
    8.4. Industrial

9. Global Precast Concrete 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 Precast Concrete Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Precast Concrete 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. Boral Ltd.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Gulf Precast Concrete Co. LLC
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Olson Precast Company
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Forterra Pipe
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. CEMEX S.A.B. de C.V.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Tindall Corp.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Precast LLC
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Komatsu Ltd.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Kiewit Corporation
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Balfour Beatty plc
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Laing O’Rourke
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. ACS Group
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Bouygues Construction
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Larsen & Toubro Limited
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Taisei Corporation
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Elematic
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis

List of Table

1. Global Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

2. Global Architectural Building Components, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

3. Global Waste & Water Handling Products, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

4. Global Transportation Products, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

5. Global Structural Building Components, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

6. Global Others, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

7. Global Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

8. Global Permanent Modular Building, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

9. Global Elemental Constructions, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

10. Global Relocate Buildings, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

11. Global Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

12. Global Commercial, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

13. Global Residential, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

14. Global Industrial, Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

15. Global Precast Concrete Market, By Region, 2020 - 2033 (USD Billion) 

16. North America Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

17. North America Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

18. North America Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion)

19. U.S. Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

20. U.S. Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

21. U.S. Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

22. Canada Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

23. Canada Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

24. Canada Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

25. Mexico Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

26. Mexico Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

27. Mexico Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

28. Europe Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

29. Europe Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

30. Europe Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion)

31. Germany Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

32. Germany Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

33. Germany Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

34. France Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

35. France Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

36. France Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

37. U.K. Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

38. U.K. Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

39. U.K. Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

40. Italy Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

41. Italy Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

42. Italy Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

43. Spain Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

44. Spain Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

45. Spain Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

46. Asia Pacific Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

47. Asia Pacific Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

48. Asia Pacific Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

49. Japan Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

50. Japan Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

51. Japan Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion)

52. China Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

53. China Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

54. China Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

55. India Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

56. India Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

57. India Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

58. South America Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

59. South America Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

60. South America Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

61. Brazil Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

62. Brazil Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

63. Brazil Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

64. Middle East and Africa Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

65. Middle East and Africa Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

66. Middle East and Africa Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

67. UAE Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

68. UAE Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

69. UAE Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

70. South Africa Precast Concrete Market, By Product Type, 2020 - 2033 (USD Billion) 

71. South Africa Precast Concrete Market, By Construction Type , 2020 - 2033 (USD Billion) 

72. South Africa Precast Concrete Market, By End-users, 2020 - 2033 (USD Billion) 

List of Figures

1. Global Precast Concrete Market Segmentation

2. Precast Concrete 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 Precast Concrete Market Attractiveness Analysis by Product Type

9. Global Precast Concrete Market Attractiveness Analysis by Construction Type 

10. Global Precast Concrete Market Attractiveness Analysis by End-users

11. Global Precast Concrete Market Attractiveness Analysis by Region

12. Global Precast Concrete Market: Dynamics

13. Global Precast Concrete Market Share by Product Type (2023 & 2033)

14. Global Precast Concrete Market Share by Construction Type  (2023 & 2033)

15. Global Precast Concrete Market Share by End-users (2023 & 2033)

16. Global Precast Concrete Market Share by Regions (2023 & 2033)

17. Global Precast Concrete 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 precast concrete market based on below mentioned segments:

Global Precast Concrete Market by Product Type:

  • Architectural Building Components
  • Waste & Water Handling Products
  • Transportation Products
  • Structural Building Components
  • Others

Global Precast Concrete Market by Construction Type:

  • Permanent Modular Building
  • Elemental Constructions
  • Relocate Buildings

Global Precast Concrete Market by End-users:

  • Commercial
  • Residential
  • Industrial

Global Precast Concrete 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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