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Electric Water Heater Market by Product and Application - Global Industry Analysis and Forecast to 2022
Published On : October 2017 Pages : 100 Category: Electrical Systems & Components Report Code : SE10295
SEGMENTS & REGIONS:
- Regions: North America, Europe, Asia- Pacific, Latin America, Middle East & Africa
Industry Trend Analysis
In 2017, the global electric water heaters market was valued around USD billion and is anticipated to reach approximately USD billion by 2022 while maintaining a compound annual growth rate (CAGR) of % during the forecast period owing to rising residential housing projects across the world. Rising tank less water heaters demand and increasing disposable earnings is expected to fuel the growth of the global market. Factors like temperature control across longer period, energy efficiency, and enhanced environmental sustainability are projected to boost the products demand. Rising demand for wide household applications like cleaning, bathing, and cooking, plus from commercial areas like hotels and hospital may drive the growth of global electric water heaters market. Enhanced infrastructure in rural regions is expected to unlock a new opportunity for industry participants. The electric water heaters market is distinguished by amplified energy efficiency, safety awareness, and quality standards. Electricity fluctuation and shortages might hamper the global market growth. Rising preference for alternative fuels like solar power as well as acceptance of hybrid products might act as restraining factors for growth of global market during the forecast period. Hybrid water heater functions on over two energy sources thus rendering switching choice to users. Volatile raw material prices, Increasing electricity prices, and changes in government policies are anticipated to hinder the market demand.
Product Outlook and Trend Analysis
The global electric water heaters industry is progressively shifting towards tank less from storage products. Though, storage is still anticipated to be the major product section during the projected period. Electric water heaters with storage are growingly being utilized in regions where availability of electricity is inadequate, which facilitates uninterrupted hot water availability in these areas. Tank less water heaters do not have any storage space; they supply hot water on demand by heating water simultaneously. These tanks use attached water stream triggered switch that switches on the heating system that includes the heat exchanger. The heat exchanger is generally constituted of an electric heating coil. The product efficiency is calculated in terms of an amount of hot water rendered per minute. As précised by U.S. Department of Energy (DOE), water heaters are ranked by the highest achievable temperature rise at a specified flow rate.
Application Outlook and Trend Analysis
Residential applications segment involve bathing, cooking, cleaning, and space heating. The residential segment is expected to continue to be a major application during the forecast years. This section includes products that range from 120V to 240V. Single phase 120V water heater with 2.7 gallons of capacity is used commonly as under sink attachments for washing out sinks owing to low capacity necessities. The commercial water heaters are employed in places of apartment houses, business, hospitals, commercial buildings, and hotels. Rising commercial development like schools, hotels, restaurants, etc. might fuel the growth of the electric water heaters market.
Regional Outlook and Trend Analysis
Asia Pacific region is expected to be the major regional market during the projected period due to developing markets like India and China. The North American electric water heaters regional market is likely to experience growth mainly owing to rising demand for replacement. The correction to the National Energy Conservation Act during April 2017 and strict energy efficiency standards might hamper the growth of North American market.
Competitive Outlook and Trend Analysis
Major market players in global electric water heaters market are AquaMax, A. O. Smith Corporation, Ariston Thermo (Racold), Bradford White Corporation, Bosch, Eemax, Rheem Manufacturing Company, General Electric, Zenith, and Havells. Global electric water heater industry share is widely fused and the three leading market players report for over % of the global market share. Midea Group, AO Smith, and Haier Appliances have considerable market share in Chinese market. In addition, there are several other state-owned and private companies present in China. Racold is probably the major player in India; it is followed by Bajaj, AO Smith, Venus, Haier, and Havells. Initiatives to invest more for R&D activities will allow market participants to present superior product features. Besides, key market players are also launching new processes and products in an attempt to achieve competitive benefit.
The global electric water heaters market is segmented as follows :
By Product
- Storage
- Non-Storage
By Application
- Residential
- Commercial
By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- United Arab Emirates
- Others
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2017 to 2022?
- What will be the industry market growth from 2017 to 2022?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
- Electric Water Heaters Market, By Product, Estimates and Forecast, 2012-2022 ($Million)
- Storage
- Non-Storage
- Electric Water Heaters Market, By Application, Estimates and Forecast, 2012-2022 ($Million)
- Residential
- Commercial
- Electric Water Heaters Market, By Region, Estimates and Forecast, 2012-2022 ($Million)
- North America
- North America Electric Water Heaters Market, By Country
- North America Electric Water Heaters Market, By Product
- North America Electric Water Heaters Market, By Application
- U.S. Electric Water Heaters Market, By Product
- U.S. Electric Water Heaters Market, By Application
- Canada Electric Water Heaters Market, By Product
- Canada Electric Water Heaters Market, By Application
- Mexico Electric Water Heaters Market, By Product
- Mexico Electric Water Heaters Market, By Application
-
- Europe
- Europe Electric Water Heaters Market, By Country
- Europe Electric Water Heaters Market, By Product
- Europe Electric Water Heaters Market, By Application
- Germany Electric Water Heaters Market, By Product
- Germany Electric Water Heaters Market, By Application
- France Electric Water Heaters Market, By Product
- France Electric Water Heaters Market, By Application
- UK Electric Water Heaters Market, By Product
- UK Electric Water Heaters Market, By Application
- Italy Electric Water Heaters Market, By Product
- Italy Electric Water Heaters Market, By Application
- Spain Electric Water Heaters Market, By Product
- Spain Electric Water Heaters Market, By Application
- Rest of Europe Electric Water Heaters Market, By Product
- Rest of Europe Electric Water Heaters Market, By Application
-
- Asia-Pacific
- Asia-Pacific Electric Water Heaters Market, By Country
- Asia-Pacific Electric Water Heaters Market, By Product
- Asia-Pacific Electric Water Heaters Market, By Application
- Japan Electric Water Heaters Market, By Product
- Japan Electric Water Heaters Market, By Application
- Australia Electric Water Heaters Market, By Product
- Australia Electric Water Heaters Market, By Application
- India Electric Water Heaters Market, By Product
- India Electric Water Heaters Market, By Application
- South Korea Electric Water Heaters Market, By Product
- South Korea Electric Water Heaters Market, By Application
- Rest of Asia-Pacific Electric Water Heaters Market, By Product
- Rest of Asia-Pacific Electric Water Heaters Market, By Application
- Asia-Pacific
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- Rest of the World
- Rest of the World Electric Water Heaters Market, By Country
- Rest of the World Electric Water Heaters Market, By Product
- Rest of the World Electric Water Heaters Market, By Application
- Brazil Electric Water Heaters Market, By Product
- Brazil Electric Water Heaters Market, By Application
- South Africa Electric Water Heaters Market, By Product
- South Africa Electric Water Heaters Market, By Application
- Saudi Arabia Electric Water Heaters Market, By Product
- Saudi Arabia Electric Water Heaters Market, By Application
- Turkey Electric Water Heaters Market, By Product
- Turkey Electric Water Heaters Market, By Application
- United Arab Emirates Electric Water Heaters Market, By Product
- United Arab Emirates Electric Water Heaters Market, By Application
- Others Electric Water Heaters Market, By Product
- Others Electric Water Heaters Market, By Application
- Rest of the World
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Rising Residential and Commercial Projects
3.2.1.2. Increasing Disposable Income
3.2.2. Restraints
3.2.2.1. High Cost of Operation
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth Opportunities
4. Electric Water Heaters Market, By Product
4.1. Introduction
4.2. Electric Water Heaters Market Assessment and Forecast, By Product, 2012-2022
4.3. Storage Electric Water Heaters
4.3.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)
4.4. Non-Storage Electric Water Heaters
4.4.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)
5. Electric Water Heaters Market, By Application
5.1. Introduction
5.2. The Electric Water Heaters Market Assessment and Forecast, By Application, 2012-2022
5.3. Residential
5.3.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)
5.4. Commercial
5.4.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)
6. Electric Water Heaters Market, By Region
6.1. Introduction
6.2. Electric Water Heaters Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.3. Electric Water Heaters Market Assessment and Forecast, By Application , 2012-2022 ($Million)
6.4. North America
6.4.1. Market Assessment and Forecast, By Country, 2012-2022 ($Million)
6.4.2. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.4.3. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.4.4. U.S.
6.4.4.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.4.4.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.4.5. Canada
6.4.5.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.4.5.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.4.6. Mexico
6.4.6.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.4.6.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5. Europe
6.5.1. Market Assessment and Forecast, By Country, 2012-2022 ($Million)
6.5.2. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.3. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5.4. Germany
6.5.4.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.4.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5.5. France
6.5.5.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.5.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5.6. UK
6.5.6.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.6.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5.7. Italy
6.5.7.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.7.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5.8. Spain
6.5.8.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.8.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.5.9. Rest of Europe
6.5.9.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.5.9.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6. Asia-Pacific
6.6.1. Market Assessment and Forecast, By Country, 2012-2022 ($Million)
6.6.2. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.3. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6.4. Japan
6.6.4.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.4.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6.5. China
6.6.5.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.5.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6.6. Australia
6.6.6.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.6.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6.7. India
6.6.7.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.7.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6.8. South Korea
6.6.8.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.8.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.6.9. Rest of Asia-Pacific
6.6.9.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.6.9.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7. Rest of the World
6.7.1. Market Assessment and Forecast, By Country, 2012-2022 ($Million)
6.7.2. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.3. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7.4. Brazil
6.7.4.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.4.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7.5. Turkey
6.7.5.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.5.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7.6. Saudi Arabia
6.7.6.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.6.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7.7. South Africa
6.7.7.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.7.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7.8. United Arab Emirates
6.7.8.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.8.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
6.7.9. Others
6.7.9.1. Market Assessment and Forecast, By Product, 2012-2022 ($Million)
6.7.9.2. Market Assessment and Forecast, By Application, 2012-2022 ($Million)
7. Company Profiles
7.1. A.O. Smith
7.1.1. Business Overview
7.1.2. Product Portfolio
7.1.3. Key Financials
7.1.4. Strategic Developments
7.2. AquaMAX
7.2.1. Business Overview
7.2.2. Product Portfolio
7.2.3. Key Financials
7.2.4. Strategic Developments
7.3. Ariston
7.3.1. Business Overview
7.3.2. Product Portfolio
7.3.3. Strategic Developments
7.4. Atwood
7.4.1. Business Overview
7.4.2. Product Portfolio
7.4.3. Strategic Developments
7.5. Bosch
7.5.1. Business Overview
7.5.2. Product Portfolio
7.5.3. Key Financials
7.5.4. Strategic Developments
7.6. Bradford White Corporation
7.6.1. Business Overview
7.6.2. Product Portfolio
7.6.3. Strategic Developments
7.7. Eemax
7.7.1. Business Overview
7.7.2. Product Portfolio
7.7.3. Strategic Developments
7.8. General Electric (GE)
7.8.1. Business Overview
7.8.2. Product Portfolio
7.8.3. Strategic Developments
7.9. Haier Electronics
7.9.1. Business Overview
7.9.2. Product Portfolio
7.9.3. Key Financials
7.9.4. Strategic Developments
7.10. Havells
7.10.1. Business Overview
7.10.2. Product Portfolio
7.10.3. Strategic Developments
List of Tables
Table 1.Global Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 2.Storage Electric Water Heaters Market, By Region, 2012-2022 ($Million)
Table 3.Non-Storage Electric Water Heaters Market, By Region, 2012-2022 ($Million)
Table 4.Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 5.Residential Market, By Region, 2012-2022 ($Million)
Table 6.Commercial Market, By Region, 2012-2022 ($Million)
Table 7.North America Electric Water Heaters Market, By Country, 2012-2022 ($Million)
Table 8.North America Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 9.North America Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 10.U.S. Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 11.U.S. Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 12.Canada Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 13.Canada Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 14.Mexico Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 15.Mexico Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 17.Europe Electric Water Heaters Market, By Country, 2012-2022 ($Million)
Table 18.Europe Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 19.Europe Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 20.Germany Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 21.Germany Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 22.France Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 23.France Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 24.UK Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 25.UK Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 26.Italy Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 27.Italy Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 28.Spain Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 29.Spain Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 30.Rest of Europe Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 31.Rest of Europe Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 32.Asia-Pacific Electric Water Heaters Market, By Country, 2012-2022 ($Million)
Table 33.Asia-Pacific Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 34.Asia-Pacific Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 35.Japan Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 36.Japan Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 37.China Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 38.China Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 39.Australia Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 40.Australia Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 41.India Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 42.India Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 43.South Korea Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 44.South Korea Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 45.Rest of Asia-Pacific Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 46.Rest of Asia-Pacific Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 47.Rest of the World Electric Water Heaters Market, By Country, 2012-2022 ($Million)
Table 48.Rest of the World Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 49.Rest of the World Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 50.Brazil Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 51.Brazil Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 52.Turkey Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 53.Turkey Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 54.Saudi Arabia Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 55.Saudi Arabia Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 56.South Africa Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 57.South Africa Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 58.United Arab Emirates Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 59.United Arab Emirates Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 60.Others Electric Water Heaters Market, By Product, 2012-2022 ($Million)
Table 61.Others Electric Water Heaters Market, By Application, 2012-2022 ($Million)
Table 62.A.O. Smith Key Strategic Developments, 2017-2017
Table 63.AquaMAX: Key Strategic Developments, 2017-2017
Table 64.Ariston: Key Strategic Developments, 2017-2017
Table 65.Atwood: Key Strategic Developments, 2017-2017
Table 66.Bosch: Key Strategic Developments, 2017-2017
Table 67.Bradford White Corporation: Key Strategic Developments, 2017-2017
Table 68.Eemax: Key Strategic Developments, 2017-2017
Table 69.General Electric (GE): Key Strategic Developments, 2017-2017
Table 70.Haier Electronics: Key Strategic Developments, 2017-2017
Table 71.Havells: Key Strategic Developments, 2017-2017
List of Figures
Figure 1.Global Electric Water Heaters Market Share, By Product, 2017 & 2025
Figure 2.Global Electric Water Heaters Market, By Application, 2017, ($Million)
Figure 3.Global Electric Water Heaters Market, By Region, 2017, ($Million)
Figure 4.A.O. Smith: Net Revenues, 2017-2017 ($Million)
Figure 5.A.O. Smith: Net Revenue Share, By Segment, 2017
Figure 6.A.O. Smith: Net Revenue Share, By Geography, 2017
Figure 7.AquaMAX: Net Revenues, 2017-2017 ($Million)
Figure 8.AquaMAX: Net Revenue Share, By Segment, 2017
Figure 9.AquaMAX: Net Revenue Share, By Geography, 2017
Figure 10.Bosch: Net Revenues, 2017-2017 ($Million)
Figure 11.Bosch: Net Revenue Share, By Segment, 2017
Figure 12.Bosch: Net Revenue Share, By Geography, 2017
Figure 13.Haier Electronics: Net Revenues, 2017-2017 ($Million)
Figure 14.Haier Electronics: Net Revenue Share, By Segment, 2017
Figure 15.Haier Electronics: Net Revenue Share, By Geography, 2017
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
Supply Side |
Demand Side |
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Primary Data Sources |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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