Heavy-duty Truck Suspension System Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Mexico, China, Japan, Germany - Size and Forecast 2024-2028

Published: Jan 2024

Pages: 163

SKU: IRTNTR45073

Snapshot

Heavy-duty Truck Suspension System Market 2024-2028

The heavy-duty truck suspension system market size is forecast to increase by USD 1.79 billion, at a CAGR of 2.71% between 2023 and 2028. The accelerated growth of the market is due to various factors, including the growing sales of heavy-duty trucks, the rising need for smooth freight transportation, and the rising demand for lightweight and durable suspension systems.

The report offers extensive research analysis on the Heavy-duty Truck Suspension System Market, with a categorization based on Vehicle Type, including class 8 and class 7. It further segments the market by Distribution Channel, encompassing OEM and aftermarket. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.

What will be the Size of the Heavy-duty Truck Suspension System Market During the Forecast Period?

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Heavy-duty Truck Suspension System Market: Key Drivers, Trends and Challenges

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Heavy-duty Truck Suspension System Market Driver

One of the key factors driving the heavy-duty truck suspension system market growth is the rising need for smooth freight transportation. Heavy-duty trucks have a specific purpose of transporting heavy cargo over long distances. In addition, vehicle manufacturers build heavy trucks with capable diesel powertrains and durable drivetrains that can generate sufficient power to haul heavy cargo without causing the vehicle to lose stability.

Moreover, the suspension system plays a major role in complementing vehicle stability, particularly when the vehicle is carrying heavier loads. In addition, vehicle manufacturers are equipping heavy-duty trucks with air-suspension systems as a norm to reduce vibration and engine noise while transporting heavy loads. Furthermore, air suspension offers a smoother ride by automatically adjusting the height of the vehicle according to vehicle speed and reduces resistance to wind while driving on highways. Hence, such factors are driving the market growth during the forecast period.

Key Heavy-duty Truck Suspension System Market Trends

A key factor shaping the heavy-duty truck suspension system market growth is the technological advancements in suspension systems in the automotive sector. Several heavy-duty truck manufacturers are increasingly developing innovative components in suspension systems to enhance the efficiency of the vehicle. In addition, the liftable forward axle works with the air suspension system of a heavy-duty truck and automatically lifts the front axle when it detects the vehicle is not carrying cargo based on the weight of the axle.

Moreover, the liftable forward tandem axle is an innovative addition to the air suspension system; it increases fuel efficiency and reduces rolling resistance and tire wear. In addition, the liftable forward tandem axle is most suited for truck fleets with quantities of cargo to be transported. Hence, such factors are positively impacting the market which in turn drives the market growth during the forecast period.

Key Heavy-duty Truck Suspension System Market Challenge

Stringent regulations regarding emission control are one of the key challenges hindering the heavy-duty truck suspension system market growth. GHG emission regulations under the Clean Air Act formulated by the US Environmental Protection Agency enforced weight standards for the suspension systems used in heavy-duty trucks in the US. In addition, the suspension systems used in heavy-duty trucks are constantly reviewed to evaluate weight in proportion to durability.

Thus, the majority of heavy-truck manufacturers are shifting from composite and heavy-leaf spring suspension systems to lighter and faster-responding air suspension systems. In addition, GHG emission regulations mainly aim to reduce the emissions from various types of vehicles by promoting technologies and vehicle designs that would reduce the weight of the suspension systems and thereby increase fuel efficiency. Hence, such factors are hindering the market growth during the forecast period.

Heavy-duty Truck Suspension System Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Heavy-duty Truck Suspension System Market Customer Landscape

Who are the Major Heavy-duty Truck Suspension System Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Arnott LLC: The company offers heavy-duty truck suspension such as Arnott aftermarket custom fit heavy-duty truck suspension system for luxury car, truck or SUV.

The research report also includes market growth and forecasting and detailed market growth analysis of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the Heavy-duty Truck Suspension System Market?

The Class 8 segment is estimated to witness significant growth during the forecast period. The technological development of suspension systems for the class 8 segment is significantly based on enhancing fuel efficiency and performance. In addition, suspension systems for class 8 trucks are largely determined by the axle setup in heavy-duty trucks. Furthermore, the class 8 truck segment is largely penetrated with 6x4 axle setups, wherein two rear axles of the heavy-duty truck are powered by the engine.

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The Class 8 segment was the largest segment and was valued at USD 8.37 billion in 2018. Moreover, Class 8 truck manufacturers are increasingly developing new technologies to decrease fuel consumption without compromising vehicle performance. In addition, mechanical leaf spring suspension systems have been replaced with air suspension systems to decrease the contribution to overall vehicle weight and increase the response sensitivity of the suspension. Furthermore, the need for enhanced driver comfort and cargo protection is driving vehicle makers to opt for air suspension systems in class 8 trucks. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Which are the Key Regions for the Heavy-duty Truck Suspension System Market?

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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is fuelled by the growing automotive industry and the rising demand for technologically advanced vehicles, which include safety features, infotainment systems, and heating, ventilation, and air conditioning (HVAC) systems. In addition, countries such as India, Japan, and China are witnessing a widescale adoption of advanced driver assistance systems (ADAS), infotainment systems, and other safety systems. Moreover, in terms of population, China and India are the fastest-growing countries. Furthermore, economic development will be significantly impacted by housing such a large population with such high projected growth, particularly in the automotive sector. Hence, such factors are driving the market growth in APAC during the forecast period.

Segment Overview

The heavy-duty truck suspension system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.

Vehicle Type Outlook
- Class 8
- Class 7
Distribution Channel Outlook
- OEM
- Aftermarket
Geography Outlook
- North America
  - The U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- South America
  - Chile
  - Argentina
  - Brazil
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa

Heavy-duty Truck Suspension System Market Scope
Report Coverage	Details
Page number	163
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 2.71%
Market Growth 2024-2028	USD 1.79 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	2.53
Regional analysis	APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution	APAC at 53%
Key countries	US, Mexico, China, Japan, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Arnott LLC, Bridgestone Corp., Buga Technic, Continental AG, Cummins Inc., EMCO INDUSTRIES, Hendrickson Holdings LLC, JOST Werke AG, Link Manufacturing Ltd., Mando Aftermarket North America, Marelli Holdings Co. Ltd., Michigan Truck Spring of Saginaw Inc., RoadActive Suspension, SAF HOLLAND SE, Simard Suspensions, Sogefi Spa, Suncore Industries, thyssenkrupp AG, VDL Groep BV, and ZF Friedrichshafen AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Heavy-duty Truck Suspension System Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2024 and 2028
Precise estimation of the market size and its contribution to the market in focus on the parent market
Accurate market forecast about upcoming market growth and trends and changes in consumer behavior
Growth of the market across APAC, North America, Europe, South America, and the Middle East and Africa
A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global heavy-duty truck suspension system market 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on global heavy-duty truck suspension system market 2018 - 2022 ($ billion)

4.2 Vehicle Type Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Vehicle Type Segment 2018 - 2022 ($ billion)

4.3 Distribution Channel Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)

4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

4.5 Country Segment Analysis 2018 - 2022
- Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Vehicle Type

6.1 Market segments
- Exhibit 30: Chart on Vehicle Type - Market share 2023-2028 (%)
- Exhibit 31: Data Table on Vehicle Type - Market share 2023-2028 (%)

6.2 Comparison by Vehicle Type
- Exhibit 32: Chart on Comparison by Vehicle Type
- Exhibit 33: Data Table on Comparison by Vehicle Type

6.3 Class 8 - Market size and forecast 2023-2028
- Exhibit 34: Chart on Class 8 - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Data Table on Class 8 - Market size and forecast 2023-2028 ($ billion)
- Exhibit 36: Chart on Class 8 - Year-over-year growth 2023-2028 (%)
- Exhibit 37: Data Table on Class 8 - Year-over-year growth 2023-2028 (%)

6.4 Class 7 - Market size and forecast 2023-2028
- Exhibit 38: Chart on Class 7 - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Data Table on Class 7 - Market size and forecast 2023-2028 ($ billion)
- Exhibit 40: Chart on Class 7 - Year-over-year growth 2023-2028 (%)
- Exhibit 41: Data Table on Class 7 - Year-over-year growth 2023-2028 (%)

6.5 Market opportunity by Vehicle Type
- Exhibit 42: Market opportunity by Vehicle Type ($ billion)
- Exhibit 43: Data Table on Market opportunity by Vehicle Type ($ billion)

7 Market Segmentation by Distribution Channel

7.1 Market segments
- Exhibit 44: Chart on Distribution Channel - Market share 2023-2028 (%)
- Exhibit 45: Data Table on Distribution Channel - Market share 2023-2028 (%)

7.2 Comparison by Distribution Channel
- Exhibit 46: Chart on Comparison by Distribution Channel
- Exhibit 47: Data Table on Comparison by Distribution Channel

7.3 OEM - Market size and forecast 2023-2028
- Exhibit 48: Chart on OEM - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Data Table on OEM - Market size and forecast 2023-2028 ($ billion)
- Exhibit 50: Chart on OEM - Year-over-year growth 2023-2028 (%)
- Exhibit 51: Data Table on OEM - Year-over-year growth 2023-2028 (%)

7.4 Aftermarket - Market size and forecast 2023-2028
- Exhibit 52: Chart on Aftermarket - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Data Table on Aftermarket - Market size and forecast 2023-2028 ($ billion)
- Exhibit 54: Chart on Aftermarket - Year-over-year growth 2023-2028 (%)
- Exhibit 55: Data Table on Aftermarket - Year-over-year growth 2023-2028 (%)

7.5 Market opportunity by Distribution Channel
- Exhibit 56: Market opportunity by Distribution Channel ($ billion)
- Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2023-2028 (%)
- Exhibit 60: Data Table on Market share by geography 2023-2028 (%)

9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2023-2028
- Exhibit 63: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 65: Chart on APAC - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on APAC - Year-over-year growth 2023-2028 (%)

9.4 North America - Market size and forecast 2023-2028
- Exhibit 67: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 69: Chart on North America - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2023-2028 (%)

9.5 Europe - Market size and forecast 2023-2028
- Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)

9.6 South America - Market size and forecast 2023-2028
- Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
- Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)

9.7 Middle East and Africa - Market size and forecast 2023-2028
- Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)

9.8 China - Market size and forecast 2023-2028
- Exhibit 83: Chart on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 84: Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 85: Chart on China - Year-over-year growth 2023-2028 (%)
- Exhibit 86: Data Table on China - Year-over-year growth 2023-2028 (%)

9.9 US - Market size and forecast 2023-2028
- Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)

9.10 Germany - Market size and forecast 2023-2028
- Exhibit 91: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 92: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 93: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 94: Data Table on Germany - Year-over-year growth 2023-2028 (%)

9.11 Japan - Market size and forecast 2023-2028
- Exhibit 95: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
- Exhibit 96: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
- Exhibit 97: Chart on Japan - Year-over-year growth 2023-2028 (%)
- Exhibit 98: Data Table on Japan - Year-over-year growth 2023-2028 (%)

9.12 Mexico - Market size and forecast 2023-2028
- Exhibit 99: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 100: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 101: Chart on Mexico - Year-over-year growth 2023-2028 (%)
- Exhibit 102: Data Table on Mexico - Year-over-year growth 2023-2028 (%)

9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ billion)
- Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption

11.4 Industry risks
- Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 109: Vendors covered

12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification

12.3 Arnott LLC
- Exhibit 111: Arnott LLC - Overview
- Exhibit 112: Arnott LLC - Product / Service
- Exhibit 113: Arnott LLC - Key offerings

12.4 Bridgestone Corp.
- Exhibit 114: Bridgestone Corp. - Overview
- Exhibit 115: Bridgestone Corp. - Business segments
- Exhibit 116: Bridgestone Corp. - Key news
- Exhibit 117: Bridgestone Corp. - Key offerings
- Exhibit 118: Bridgestone Corp. - Segment focus

12.5 Buga Technic
- Exhibit 119: Buga Technic - Overview
- Exhibit 120: Buga Technic - Product / Service
- Exhibit 121: Buga Technic - Key offerings

12.6 Continental AG
- Exhibit 122: Continental AG - Overview
- Exhibit 123: Continental AG - Business segments
- Exhibit 124: Continental AG - Key offerings
- Exhibit 125: Continental AG - Segment focus

12.7 Cummins Inc.
- Exhibit 126: Cummins Inc. - Overview
- Exhibit 127: Cummins Inc. - Business segments
- Exhibit 128: Cummins Inc. - Key offerings
- Exhibit 129: Cummins Inc. - Segment focus

12.8 EMCO INDUSTRIES
- Exhibit 130: EMCO INDUSTRIES - Overview
- Exhibit 131: EMCO INDUSTRIES - Product / Service
- Exhibit 132: EMCO INDUSTRIES - Key offerings

12.9 Hendrickson Holdings LLC
- Exhibit 133: Hendrickson Holdings LLC - Overview
- Exhibit 134: Hendrickson Holdings LLC - Product / Service
- Exhibit 135: Hendrickson Holdings LLC - Key offerings

12.10 JOST Werke AG
- Exhibit 136: JOST Werke AG - Overview
- Exhibit 137: JOST Werke AG - Business segments
- Exhibit 138: JOST Werke AG - Key offerings
- Exhibit 139: JOST Werke AG - Segment focus

12.11 Link Manufacturing Ltd.
- Exhibit 140: Link Manufacturing Ltd. - Overview
- Exhibit 141: Link Manufacturing Ltd. - Product / Service
- Exhibit 142: Link Manufacturing Ltd. - Key offerings

12.12 Mando Aftermarket North America
- Exhibit 143: Mando Aftermarket North America - Overview
- Exhibit 144: Mando Aftermarket North America - Product / Service
- Exhibit 145: Mando Aftermarket North America - Key offerings

12.13 Michigan Truck Spring of Saginaw Inc.
- Exhibit 146: Michigan Truck Spring of Saginaw Inc. - Overview
- Exhibit 147: Michigan Truck Spring of Saginaw Inc. - Product / Service
- Exhibit 148: Michigan Truck Spring of Saginaw Inc. - Key offerings

12.14 RoadActive Suspension
- Exhibit 149: RoadActive Suspension - Overview
- Exhibit 150: RoadActive Suspension - Product / Service
- Exhibit 151: RoadActive Suspension - Key offerings

12.15 SAF HOLLAND SE
- Exhibit 152: SAF HOLLAND SE - Overview
- Exhibit 153: SAF HOLLAND SE - Business segments
- Exhibit 154: SAF HOLLAND SE - Key offerings
- Exhibit 155: SAF HOLLAND SE - Segment focus

12.16 Simard Suspensions
- Exhibit 156: Simard Suspensions - Overview
- Exhibit 157: Simard Suspensions - Product / Service
- Exhibit 158: Simard Suspensions - Key offerings

12.17 Suncore Industries
- Exhibit 159: Suncore Industries - Overview
- Exhibit 160: Suncore Industries - Product / Service
- Exhibit 161: Suncore Industries - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 162: Inclusions checklist
- Exhibit 163: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 164: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 165: Research methodology
- Exhibit 166: Validation techniques employed for market sizing
- Exhibit 167: Information sources

13.5 List of abbreviations
- Exhibit 168: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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