Riveting Tools Market

Riveting Tools Market Size by Product Type (Pneumatic, Battery Powered, Hand-Held Lever, Hydro-Pneumatic, and Lazy Tong), Application (Automotive, Aerospace, Building and Construction, Woodworking and Decorative, Transportation and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13694
  • Published Date: Sep, 2023
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global riveting tools market was valued at USD 210 million in 2022 and grew at a CAGR of 4% from 2023 to 2032. The market is expected to reach USD 310.85 million by 2032. The increasing demand for automobiles will drive the growth of the global riveting tools market.

Market Introduction:

A rivet can be defined as a metal pin with a head and one end. Rivets are used for joining two pieces together by beating them down or pressing with the help of riveting tools. Belt rivets, drive rivets, split rivets, shoulder rivets, tinners rivets, solid rivets, and tubular rivets are a few known examples of rivets. Different Rivets are designed to carry out different functions or to achieve a particular objective. Riveting tools are used to fasten joints of metal pieces or other materials together with the help of rivets. Riveting tools find application in the construction, automobile and aerospace industries. Riveting tools are used to drill, punch and insert rivets into holes for fastening or joining two structures. Body panels, chassis pieces, and other parts are fastened together in the automotive sector with rivets.

Riveting Tools Market Size  

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Recent Development
  • July 2023 - Introducing the 18V brushless rivet nut gun from Metabo. The 18V brushless rivet nut gun is the tool for threaded connections when combining flat stock. When safe, load-bearing connections between thin materials must be detachable; rivet nuts are preferred over ordinary nuts. The quick-change mandrel mechanism on the rivet nut gun allows it to rivet up to M10 in aluminium, M8 in steel, and M6 in stainless steel. There are ten memory settings and a simple force adjustment with 99 variables. Additionally, it contains an automated reverse capability that resets the tool for a speedy reload. This one-handed rivet gun is fast, light, and well-balanced for maximum ergonomics. Additionally, it has safety features like a balancing loop and a hand protection guard.
  • July 2022 - By information released by IDEAL INDUSTRIES, INC., IDEAL Electrical will be the sole electrical partner for RIVET Work, a company that offers workforce management software for speciality contractors. The alliance offers electrical contractors real-time asset utilization, access to tools for planning labour and equipment, and transformative visibility. Commercial and industrial electrical contractors nationwide must engage in intricate planning, scheduling, communication, and teamwork as stages and tasks advance to maintain and scale great infrastructure.

Market Dynamics:

Drivers

The expanding building and construction market – the increasing population, rapid urbanization and industrialization have contributed to the growth of the building and construction industry as there is a growing demand for homes, shopping centres, public utilities, offices and other commercial spaces. Furthermore, the increasing demand for retrofitting and redeveloping residential buildings or office spaces has also contributed to the riveting tools market. Furthermore, the increasing infrastructural development projects and expenditures by fiscal authorities will also drive the riveting tools market's growth.

  • May 2023 - For attaching aluminium, steel, and stainless-steel blind rivets, the new 20V MAX XR Brushless Cordless 3/16 in. (DCF403) and 1/4 in. (DCF414) Rivet Tools are made to be as productive as possible. With tool-free nose piece adjustments for convenience in prefabrication, assembly, HVAC, roofing, and automotive applications, the cordless rivet tools combine lightweight strength. The Rivet Tools have a mandrel collector to gather rivets and onboard nose piece storage after each shot. Each tool works with rivets of various sizes. Furthermore, an LED light aids in illuminating work spaces for accurate attaching.
Restraints:

The presence of alternatives the increasing research and development also aim to improve the existing tools, methods, technology and systems or introduce new ones to improve efficiency and productivity. The bulkiness of riveted joints and the stress and effort it takes to complete the task are some drawbacks that have led to the introduction of alternatives like glues and tapes. Introducing adhesives of different kinds presents an alternative for consumers and thereby has the potential to limit the market's growth.

Opportunities:

The growing automobile industry the increasing population with rising disposable income has contributed to the increasing demand for automobiles. The growing presence of automobile manufacturers and their rising production capabilities also contribute to the growth of the global riveting tools market. Furthermore, introducing novel technologies with growing research and development to improve riveting tools increase their applications and efficiency in the market. Therefore, the growing automobile industry and the introduction of novel riveting tools will offer lucrative opportunities for the market players in the forecast period.

  • March 2023 - The Dent Fix Slimline Swivel Manual Rivet Gun Kit from Kent Automotive is ideal for confined spaces and is made exclusively for plastic rivets. Use the tiny plastic riveter on automobiles with minimal or restricted plastic rivet clearance, such as wheel wells, to save time and disassembly effort. No pumping is required. To properly pull rivets, pliers need roughly two inches of clearance. A headpiece that rotates 360 degrees makes operation simple. A locking metal clip keeps The handles together when not in use.
  • In metal forming, ultrasonic vibration can efficiently minimize the forming force, reduce friction, and enhance the workpiece's surface quality. Numerical simulation and experimental techniques were used to thoroughly investigate the effects of ultrasonic vibration on riveting quality. To investigate the impact of ultrasonic vibration on the riveting process, the riveting force, interference, riveting head, and microstructure were examined under various vibration settings. According to the study, ultrasonic vibration can lessen friction and riveting force. As a result, the interference and interferometric uniformity were increased together with the flow of rivet material. Riveting quality improved, and the improvement's impact grew as the amplitude rose.  
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 global riveting tools market, with a 42% market revenue share in 2022.

Given the increasing per capita income, the large consumer market of India and China driving the demand for automobiles will bode well for the market. The presence of significant automobile manufacturers in the region will cater to the consumer market, thereby augmenting the market's growth. With the increase in infrastructural projects to improve multi-modal connectivity and overall quality of life for the citizens, the governments are introducing favourable initiatives and increasing funding for such projects, which will augment the regional market's growth. 

Asia Pacific Region Riveting Tools Market Share in 2022 - 42%

 

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Product type Segment Analysis

The product type segment is divided into pneumatic, battery-powered, hand-held lever, hydro-pneumatic, and lazy tong. The pneumatic segment dominated the market, with a market share of around 38% in 2022. The materials are compressed and joined by the rivet under the influence of air pressure in pneumatic riveting, creating a tight bond that is frequently waterproof. Pneumatic riveting tools are primarily and largely used in transportation, aircraft, manufacturing and construction industries, driving the segment's growth. Pneumatic riveting tools are easy to use and offer quick results. They also need Less physical effort to prevent any unnecessary strain. The rivets are fastened swiftly, reducing costs and time.

  • April 2023 - The original buster's components remain in the T-Handle rivet buster from American Pneumatic Tools (APT), Santa Ana, California. However, it also has a T-Handle attachment that can be switched out for the more conventional D and pistol grip handles. According to the manufacturer, the tool has an easy-to-use handle for downward-facing applications. It uses the essential elements of the business's current rivet buster and includes a 6-foot whip hose.
Application Segment Analysis

The application segment is divided into automotive, aerospace, building and construction, woodworking and decorative, transportation and others. The building and construction segment dominated, with a market share of around 36% in 2022. Given the rapid urbanisation, industrialisation and growing population, the increasing demand for homes, office spaces, bridges, and other infrastructures will drive the segment's growth. The rise in fiscal capital spending on infrastructural projects worldwide will also bode well for the segment's growth.

  • February 2023 - With a protrusion of 0mm when inserted in a smooth bore without countersinking, HONSEL's HEADLESS blind rivet nut combines cost savings and the best application installation possibilities. HONSEL Distribution GmbH & Co KG thinks the HEADLESS blind rivet nut has the potential for considerable savings by skipping the countersinking procedure. Components can be installed without interference from edges and can move over one another without being obstructed because there is no protrusion. Steel sizes M6, M8, and M10 of the HONSEL HEADLESS blind rivet nut are readily available from stock. High-quality corrosion protection (zinc-nickel) with 720-hour salt spray test resistance is used during production.
Some of the Key Market Players:
  • Arconic
  • AVK Industrial Products
  • Cherry Aerospace
  • GESIPA Blindniettechnik GmbH
  • Honsel
  • KARAT INDUSTRIAL CORPORATION
  • MPK Special Tools GmbH
  • Rivtec Limited
  • Sioux Tools, Inc
  • Stanley Black & Decker, Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 210 Million
Market size value in 2032 USD 310.85 Million
CAGR (2023 to 2032) 4%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
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 and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global riveting tools market was valued at USD 210 million in 2022 to USD 310.85 million by 2032.

Global riveting tools market is growing at a CAGR of 4% during the forecast period 2023-2032.

The market's growth will be influenced by the expanding building and construction market.

The presence of alternatives could hamper the market growth.

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 Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The expanding building and construction market
    5.3. Restraints
          5.3.1. The presence of alternatives
    5.4. Opportunities
          5.4.1. The growing automobile industry
    5.5. Challenges
          5.5.1. The presence of few strong players

6. Global Riveting Tools Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Pneumatic
    6.3. Battery Powered
    6.4. Hand-Held Lever
    6.5. Hydro-Pneumatic
    6.6. Lazy Tong

7. Global Riveting Tools Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Automotive
    7.3. Aerospace
    7.4. Building and Construction
    7.5. Woodworking and Decorative
    7.6. Transportation
    7.7. Others

8. Global Riveting Tools Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Riveting Tools Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Riveting Tools Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Arconic
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. AVK Industrial Products
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Cherry Aerospace
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. GESIPA Blindniettechnik GmbH
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Honsel
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. KARAT INDUSTRIAL CORPORATION
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. MPK Special Tools GmbH
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Rivtec Limited
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Sioux Tools, Inc
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Stanley Black & Decker Inc.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis

List of Table

1. Global Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

2. Global Pneumatic Riveting Tools Market, By Region, 2019-2032 (USD Million) 

3. Global Battery Powered Riveting Tools Market, By Region, 2019-2032 (USD Million) 

4. Global Hand-Held Lever Riveting Tools Market, By Region, 2019-2032 (USD Million) 

5. Global Hydro-Pneumatic Riveting Tools Market, By Region, 2019-2032 (USD Million) 

6. Global Lazy Tong Riveting Tools Market, By Region, 2019-2032 (USD Million) 

7. Global Riveting Tools Market, By Application, 2019-2032 (USD Million) 

8. Global Automotive Riveting Tools Market, By Region, 2019-2032 (USD Million) 

9. Global Aerospace Riveting Tools Market, By Region, 2019-2032 (USD Million) 

10. Global Building and Construction Riveting Tools Market, By Region, 2019-2032 (USD Million) 

11. Global Woodworking and Decorative Riveting Tools Market, By Region, 2019-2032 (USD Million) 

12. Global Transportation Riveting Tools Market, By Region, 2019-2032 (USD Million) 

13. Global Others Riveting Tools Market, By Region, 2019-2032 (USD Million) 

14. Global Riveting Tools Market, By Region, 2019-2032 (USD Million) 

15. North America Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

16. North America Riveting Tools Market, By Application, 2019-2032 (USD Million) 

17. U.S. Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

18. U.S. Riveting Tools Market, By Application, 2019-2032 (USD Million) 

19. Canada Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

20. Canada Riveting Tools Market, By Application, 2019-2032 (USD Million) 

21. Mexico Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

22. Mexico Riveting Tools Market, By Application, 2019-2032 (USD Million) 

23. Europe Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

24. Europe Riveting Tools Market, By Application, 2019-2032 (USD Million) 

25. Germany Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

26. Germany Riveting Tools Market, By Application, 2019-2032 (USD Million) 

27. France Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

28. France Riveting Tools Market, By Application, 2019-2032 (USD Million) 

29. U.K. Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

30. U.K. Riveting Tools Market, By Application, 2019-2032 (USD Million) 

31. Italy Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

32. Italy Riveting Tools Market, By Application, 2019-2032 (USD Million) 

33. Spain Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

34. Spain Riveting Tools Market, By Application, 2019-2032 (USD Million) 

35. Asia Pacific Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

36. Asia Pacific Riveting Tools Market, By Application, 2019-2032 (USD Million) 

37. Japan Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

38. Japan Riveting Tools Market, By Application, 2019-2032 (USD Million) 

39. China Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

40. China Riveting Tools Market, By Application, 2019-2032 (USD Million) 

41. India Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

42. India Riveting Tools Market, By Application, 2019-2032 (USD Million) 

43. South America Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

44. South America Riveting Tools Market, By Application, 2019-2032 (USD Million) 

45. Brazil Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

46. Brazil Riveting Tools Market, By Application, 2019-2032 (USD Million) 

47. Middle East and Africa Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

48. Middle East and Africa Riveting Tools Market, By Application, 2019-2032 (USD Million) 

49. UAE Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

50. UAE Riveting Tools Market, By Application, 2019-2032 (USD Million) 

51. South Africa Riveting Tools Market, By Product Type, 2019-2032 (USD Million) 

52. South Africa Riveting Tools Market, By Application, 2019-2032 (USD Million) 

List of Figures 

1. Global Riveting Tools Market Segmentation

2. Riveting Tools 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 Riveting Tools Market Attractiveness Analysis By Product Type

9. Global Riveting Tools Market Attractiveness Analysis By Application

10. Global Riveting Tools Market Attractiveness Analysis By Region

11. Global Riveting Tools Market: Dynamics

12. Global Riveting Tools Market Share by Product Type (2022 & 2032)

13. Global Riveting Tools Market Share by Application (2022 & 2032)

14. Global Riveting Tools Market Share by Regions (2022 & 2032)

15. Global Riveting Tools Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global riveting tools market based on below mentioned segments:

Global Riveting Tools Market by Product Type:

  • Pneumatic
  • Battery Powered
  • Hand-Held Lever
  • Hydro-Pneumatic
  • Lazy Tong

Global Riveting Tools Market by Application:

  • Automotive
  • Aerospace
  • Building and Construction
  • Woodworking and Decorative
  • Transportation
  • Others

Global Riveting Tools 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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