Train Battery Market

Global Train Battery Market Size By Product Type (Lead Acid, Nickel Cadmium, Lithium-Ion, Others), By Locomotive (Diesel, Electric, Hybrid), Application (Train Lighting, Train Air conditioning, Electric Locomotive, Railway Signalling and Telecommunications, Engine Starting), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12819
  • Published Date: Jul, 2022
  • Pages: 237
  • Category: Automotive & Transportation
  • Format: PDF
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The global train battery market is expected to reach USD 779.2 million by 2030, at a CAGR of 5.1% during the forecast period 2022 to 2030. There is a rapid expansion of rail networks globally owing to increasing urbanization and the growing number of passengers; this drives the growth of the train battery market during the forecast period.

Market Overview:

Train batteries supply power to the engine when it is at a steady position or moving slowly. Train batteries usually include DC power, which powers the coaches. Previously, trains were powered using diesel engines, but they required high maintenance costs and were not economically feasible. Furthermore, they are harmful to the environment because of carbon emissions. The train batteries are the energy storage systems or the backup energy resource, which constitute a significant part of the signaling system to provide backup and keep the operating system and the signaling system working in case of any interruption or breakdown. Lead-acid batteries are used in trains that are rechargeable. The main motive behind using such batteries is to achieve the goal of sustainable development and to reduce carbon emissions. The railway sector faces many challenges due to increased energy consumption and emission regulations. So, introducing these energy storage systems like train batteries is expected to reduce the overall operational cost and demand for energy.

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Market Dynamics:

Drivers:
  • Increase in adoption of high-speed trains

The rise in the adoption of high-speed autonomous railways drives the market's growth. High-speed trains are considered energy consumers, and hence various storage systems and energy-saving methods are required; as a result, batteries are used in large numbers. The manufacturers use many mechanisms to reduce the discharge downtime, improve the onboard charging mechanism and refine the battery technology to achieve minimal energy loss. Various regenerative braking techniques are introduced, which convert the braking energy into electricity and store them onboard energy storage systems, driving the market’s growth.

Restraints:
  • The huge price associated with the system

Huge money is required for the investment and the system's proper operation. As the function of these batteries is mainly based on chemical reactions, the temperature changes highly influence their performance. The energy gradient of the battery is affected as low temperature reduces the cell performance. The weight of the batteries, the design of the batteries, and the high price associated with them act as some of the restraints in the growth of the train battery market. High infrastructure costs and the government's budget hinder the growth of the train battery market.

Opportunities:
  • Technological advancements to improve the passenger experience

The railway's systems are making many advancements, such as improved passenger experience, proper optimization of field equipment like ACs, heaters, braking systems, resource planning, and decision-making. All these factors are expected to increase the adoption of train batteries. Various technologies like AI, DAS technologies, and IoT have been implemented, widening the opportunity for the train battery market to grow. The train battery can be easily used as a power backup source as most of the introduced technologies are highly dependent on electricity. These factors create an opportunity for the train battery market during the forecast period.

Challenges:
  • The durability and capacity of the batteries

The rail industry uses lead-acid and Nickel Cadmium batteries extensively for long-lasting and high-speed charging, but these batteries are not easily disposable and contain various toxic chemicals. They also face a "memory effect," which causes difficulty re-charging. Moreover, they have a small charge cycle and a high self-discharge rate. The system's safety will be compromised if the performance of the batteries is increased by increasing the cell capacity. Another challenge in using the train batteries is that these electrochemical rail batteries undergo various chemical reactions to furnish the electric current. These chemical reactions are all affected by temperature change. Any fluctuations affect the performance of the batteries challenging the market’s growth.

Segmentation Analysis:

The global train battery market has been segmented based on product type, locomotive, application, and regions.

  • The product type segment is divided into lead-acid, nickel-cadmium, lithium-ion, and others. The lithium-ion battery segment dominated the market, with a market share of around 32% in 2021. Lithium-Ion batteries are maintenance-free, offer battery health tracking, have a high energy density, lighter in weight, and are compact in design which propels the growth of the market in the region.
  • The locomotive segment is divided into diesel, electric, and hybrid. Over the forecast period, the hybrid locomotive segment is expected to grow at the fastest CAGR of 6.8%. Hybrid trains use batteries for emergency braking, train lighting, train air conditioning, connecting pantograph, railway signaling, and telecommunications, which drives the segment's growth.
  • The application segment is divided into train lighting, train air conditioning, electric locomotive, railway signalling and telecommunications, and engine starting. In 2021, the train lighting segment dominated the market, accounting for around 23% of global revenue. The increasing demand for providing light to the train in emergency and long route journeys drives the segment's growth.
Regional Segmentation Analysis:

The regions analyzed for the train battery market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific emerged as the largest market for the global train battery market, with a 38% share of the market revenue in 2021.

The Asia Pacific region currently dominates the train battery market with a 38% share of the market revenue in 2021. Growth in the railway networks across several countries in the region, such as India, China, South Korea, and Japan, propels the market's growth in the region. In addition, the rail networks in China and India are one of the largest rail networks in the world. Passenger trains are widely used as a mode of transportation in countries like China, India, and South Korea. In Japan, high-speed metro trains and monorails are the preferred modes of transport that propel the market's growth in the region.

Asia Pacific Region Train Battery Market Share in 2021 - 38%

 

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Competitive Analysis:

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

List of Key Market Players:

  • EnergySys
  • Exide Industries
  • Saft
  • Amara Raja Batteries
  • GS Yuasa Corporation
  • Hitachi
  • CRCC Corporation Limited
  • Alstom
  • Stadler
  • Hyundai Rotem

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 Train Battery Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered the base year of the report. 2019 and 2020 are considered the historical years, and 2022 to 2030 are the forecast years. The global train battery market is based on revenue (USD Million). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global train battery 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 Train Battery based on product type, locomotive, application, 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, and the crucial strategies adopted by key organizations catering to the global train battery market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study of the company profiles of key organizations operating in the global train battery market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & amp; 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 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 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 and the product's penetration rate analysis (market-related, i.e., global train battery 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 train battery market was valued at USD 498 million in 2021 to USD 779.2 million by 2030.

The global train battery market is growing at a CAGR of 5.1% during the forecast period 2022-2030.

The global train battery market has been segmented based on product type, locomotive, application, and regions. The lithium-ion segment led the market in 2021. The hybrid segment led the market in 2021.

The Asia Pacific emerged as the largest market for train battery.

The market's growth will be influenced by an increase in the adoption of high-speed trains.

The huge price associated with the system could hamper the market growth.

Technological advancements to improve the passenger experience will provide huge opportunities to the market.

Key players are EnergySys, Exide Industries, Saft, Amara Raja Batteries, GS Yuasa Corporation, Hitachi, CRCC Corporation Limited, Alstom, Stadler, and Hyundai Rotem

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 Locomotive
          4.3.3. Market Attractiveness Analysis By Application
          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 adoption of high-speed trains
    5.3. Restraints
          5.3.1. The huge price associated with the system
    5.4. Opportunities
          5.4.1. Technological advancements to improve the passenger experience
    5.5. Challenges
          5.5.1. The durability and capacity of the batteries

6. Global Train Battery Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Lead Acid
    6.3. Nickel Cadmium
    6.4. Lithium-Ion
    6.5. Others

7. Global Train Battery Market Analysis and Forecast, By Locomotive
    7.1. Segment Overview
    7.2. Diesel
    7.3. Electric
    7.4. Hybrid

8. Global Train Battery Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Train Lighting
    8.3. Train Air conditioning
    8.4. Electric Locomotive
    8.5. Railway Signaling and Telecommunications
    8.6. Engine Starting

9. Global Train Battery 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 Train Battery Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Train Battery Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Product Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. EnergySys
          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. Exide Industries
          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. Saft
          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. Amara Raja Batteries
          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. GS Yuasa Corporation
          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. Hitachi
          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. CRCC Corporation Limited
          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. Alstom
          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. Stadler
          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. Hyundai Rotem
          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 Train Battery Market, By Product Type, 2019-2030 (USD Million) 

2. Global Lead-Acid Train Battery Market, By Region, 2019-2030 (USD Million) 

3. Global Nickel-Cadmium Train Battery Market, By Region, 2019-2030 (USD Million)

4. Global Lithium-Ion Train Battery Market, By Region, 2019-2030 (USD Million)

5. Global Others Train Battery Market, By Region, 2019-2030 (USD Million)

6. Global Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

7. Global Diesel Train Battery Market, By Region, 2019-2030 (USD Million) 

8. Global Electric Train Battery Market, By Region, 2019-2030 (USD Million)

9. Global Hybrid Train Battery Market, By Region, 2019-2030 (USD Million) 

10. Global Train Battery Market, By Application, 2019-2030 (USD Million) 

11. Global Train Lighting Train Battery Market, By Region, 2019-2030 (USD Million) 

12. Global Train Air conditioning Train Battery Market, By Region, 2019-2030 (USD Million) 

13. Global Electric Locomotive Train Battery Market, By Region, 2019-2030 (USD Million)

14. Global Railway Signaling and Telecommunications Train Battery Market, By Region, 2019-2030 (USD Million)

15. Global Engine Starting Train Battery Market, By Region, 2019-2030 (USD Million)

16. North America Train Battery Market, By Product Type, 2019-2030 (USD Million) 

17. North America Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

18. North America Train Battery Market, By Application, 2019-2030 (USD Million) 

19. U.S. Train Battery Market, By Product Type, 2019-2030 (USD Million) 

20. U.S. Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

21. U.S. Train Battery Market, By Application, 2019-2030 (USD Million) 

22. Canada Train Battery Market, By Product Type, 2019-2030 (USD Million) 

23. Canada Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

24. Canada Train Battery Market, By Application, 2019-2030 (USD Million) 

25. Mexico Train Battery Market, By Product Type, 2019-2030 (USD Million) 

26. Mexico Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

27. Mexico Train Battery Market, By Application, 2019-2030 (USD Million) 

28. Europe Train Battery Market, By Product Type, 2019-2030 (USD Million) 

29. Europe Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

30. Europe Train Battery Market, By Application, 2019-2030 (USD Million) 

31. Germany Train Battery Market, By Product Type, 2019-2030 (USD Million) 

32. Germany Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

33. Germany Train Battery Market, By Application, 2019-2030 (USD Million) 

34. France Train Battery Market, By Product Type, 2019-2030 (USD Million) 

35. France Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

36. France Train Battery Market, By Application, 2019-2030 (USD Million) 

37. U.K. Train Battery Market, By Product Type, 2019-2030 (USD Million) 

38. U.K. Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

39. U.K. Train Battery Market, By Application, 2019-2030 (USD Million) 

40. Italy Train Battery Market, By Product Type, 2019-2030 (USD Million) 

41. Italy Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

42. Italy Train Battery Market, By Application, 2019-2030 (USD Million) 

43. Spain Train Battery Market, By Product Type, 2019-2030 (USD Million) 

44. Spain Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

45. Spain Train Battery Market, By Application, 2019-2030 (USD Million) 

46. Asia Pacific Train Battery Market, By Product Type, 2019-2030 (USD Million) 

47. Asia Pacific Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

48. Asia Pacific Train Battery Market, By Application, 2019-2030 (USD Million) 

49. Japan Train Battery Market, By Product Type, 2019-2030 (USD Million) 

50. Japan Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

51. Japan Train Battery Market, By Application, 2019-2030 (USD Million) 

52. China Train Battery Market, By Product Type, 2019-2030 (USD Million) 

53. China Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

54. China Train Battery Market, By Application, 2019-2030 (USD Million) 

55. India Train Battery Market, By Product Type, 2019-2030 (USD Million) 

56. India  Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

57. India Train Battery Market, By Application, 2019-2030 (USD Million) 

58. South America Train Battery Market, By Product Type, 2019-2030 (USD Million) 

59. South America Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

60. South America Train Battery Market, By Application, 2019-2030 (USD Million) 

61. Brazil Train Battery Market, By Product Type, 2019-2030 (USD Million) 

62. Brazil Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

63. Brazil Train Battery Market, By Application, 2019-2030 (USD Million) 

64. The Middle East and Africa Train Battery Market, By Product Type, 2019-2030 (USD Million) 

65. The Middle East and Africa Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

66. The Middle East and Africa Train Battery Market, By Application, 2019-2030 (USD Million) 

67. UAE Train Battery Market, By Product Type, 2019-2030 (USD Million) 

68. UAE Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

69. UAE Train Battery Market, By Application, 2019-2030 (USD Million) 

70. South Africa Train Battery Market, By Product Type, 2019-2030 (USD Million) 

71. South Africa Train Battery Market, By Locomotive, 2019-2030 (USD Million) 

72. South Africa Train Battery Market, By Application, 2019-2030 (USD Million) 

List of Figures 

1. Global Train Battery Market Segmentation

2. Train Battery 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 Train Battery Market Attractiveness Analysis By Product Type

9. Global Train Battery Market Attractiveness Analysis By Locomotive

10. Global Train Battery Market Attractiveness Analysis By Application

11. Global Train Battery Market Attractiveness Analysis By Region

12. Global Train Battery Market: Dynamics

13. Global Train Battery Market Share by Product Type (2022 & 2030)

14. Global Train Battery Market Share by Locomotive (2022 & 2030)

15. Global Train Battery Market Share by Application (2022 & 2030)

16. Global Train Battery Market Share by Regions (2022 & 2030)

17. Global Train Battery Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global train battery market based on the below-mentioned segments:

Global Train Battery Market by Product Type:

  • Lead Acid
  • Nickel Cadmium
  • Lithium-Ion
  • Others

Global Train Battery Market by Locomotive:

  • Diesel
  • Electric
  • Hybrid

Global Train Battery Market by Application:

  • Train Lighting
  • Train Air conditioning
  • Electric Locomotive
  • Railway Signaling and Telecommunications
  • Engine Starting

Global Train Battery 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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