Nonwoven Filter Media Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Jun 2022 Pages: 151 SKU: IRTNTR73792

The nonwoven filter media market share is expected to increase to USD 2.40 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.45%.

This nonwoven filter media market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers nonwoven filter media market segmentation by end-user (transportation, water, HVAC, food and beverage, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The nonwoven filter media market report also offers information on several market vendors, including 3M Co., Ahlstrom Munksjo Oyj, Aim Nonwovens and Interiors Pvt. Ltd., Apextech Fiber Corp., Arrow Technical Textiles Pvt. Ltd., Berry Global Group Inc., Cerex Advanced Fabrics Inc., DuPont de Nemours Inc., Fitesa SA, Freudenberg SE, Ginni Spectra Pvt. Ltd., Johns Manville, Kimberly Clark Corp., Lydall Inc., M M HYDRO PNEUMATICS Pvt. Ltd., Park Industries, Sandler AG, Schweitzer Mauduit International Inc., Tulip Fabrics Pvt. Ltd., and TWE GmbH and Co. KG among others.

What will the Nonwoven Filter Media Market Size be During the Forecast Period?

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Nonwoven Filter Media Market: Key Drivers, Trends, and Challenges

The increasing use in HVAC systems is notably driving the nonwoven filter media market growth, although factors such as limitations of nonwoven filter media products in energy applications may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the nonwoven filter media industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Nonwoven Filter Media Market Driver

  • One of the key factors driving the global nonwoven filter media industry growth is the increasing use in HVAC systems as it ensures high air quality through ventilation and filtration.
  • Parameters such as heating and cooling, along with the air quality of the outdoor or indoor environment in question, determine the type of HVAC system required.
  • As highly price-sensitive customers prefer affordable energy-efficient solutions, energy-efficient and sustainable HVAC systems, such as chillers, VRF, and air handling units (AHUs) have gained popularity.
  • Radiant and geothermal cooling systems are other advanced HVAC systems available in the market which function on vapor-absorption chiller-machine technology.
  • The growing use of HVAC systems is mainly attributed to the growth of the construction industry in China, the US, and India.
  • The increase in the adoption of HVAC equipment will support the growth of the global nonwoven filter media market in the coming years. 

Key Nonwoven Filter Media Market Trend

  • Development of high-efficiency filters is one of the key nonwoven filter media market trends that is expected to impact the industry positively in the forecast period.
  • Freudenberg Filtration Technologies GmbH and Co. KG offers filter products that have a long service life and save additional space and money based on an application.
  • SinTexx Plus is a corrugated polyester filter media with a nanofiber layer that optimally removes dust from fine smoke, which is produced during welding, cutting, and coating processes, and filters difficult-to-handle dust.
  • Ahlstrom-Munksjo Oyj offers high-efficiency particulate air and ultra-low particulate air filter media. The company's air pollution control system portfolio includes CellTech APC, Nano APC, and StatGuard conductive filters.
  • The development of advanced filters such as ultra-flow baghouse filters employ advanced self-cleaning technology and use powerful reverse blasts of compressed air that inflate the filter bags, resulting in the fall of the dust cake outside the bag and later into the hopper.
  • The development of advanced and efficient filters will create new investment opportunities for the vendors of nonwoven filter media, which in turn will drive market growth.

Key Nonwoven Filter Media Market Challenge

  • One of the key challenges to the global nonwoven filter media industry growth is the limitations of nonwoven filter media products in energy applications.
  • Nonwoven filter media is readily used for the filtration of air in gas turbines. However, the application of nonwoven filter media shortens the life of the filter.
  • Nonwoven filter media requires a continuous change of filters requiring a frequent shutdown in the system, which can prove to be costly for the operator, especially in applications such as LNG plants.
  • The nonwoven filter media is not a robust solution for applications in offshore platforms, such as the oil and gas industry as the machines here are exposed to harsh environmental conditions.
  • Manufacturers have tried coating the filter media with hydrophobic or oleophobic properties. However, such coatings get concealed with dust very easily.
  • The inefficiencies in nonwoven filter media in gas turbine applications may limit the market growth in the forecast years.

This nonwoven filter media market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global nonwoven filter media market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the nonwoven filter media market during the forecast period.

Who are the Major Nonwoven Filter Media Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Ahlstrom Munksjo Oyj
  • Aim Nonwovens and Interiors Pvt. Ltd.
  • Apextech Fiber Corp.
  • Arrow Technical Textiles Pvt. Ltd.
  • Berry Global Group Inc.
  • Cerex Advanced Fabrics Inc.
  • DuPont de Nemours Inc.
  • Fitesa SA
  • Freudenberg SE
  • Ginni Spectra Pvt. Ltd.
  • Johns Manville
  • Kimberly Clark Corp.
  • Lydall Inc.
  • M M HYDRO PNEUMATICS Pvt. Ltd.
  • Park Industries
  • Sandler AG
  • Schweitzer Mauduit International Inc.
  • Tulip Fabrics Pvt. Ltd.
  • TWE GmbH and Co. KG

 

This statistical study of the nonwoven filter media market encompasses successful business strategies deployed by the key vendors. The nonwoven filter media market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

  • 3M Co. - The company offers thermally bonded nonwoven that is used as a core component in water, dairy, air, and chemical filtration systems whose densification minimizes residual fibers and provides fully customizable options. 
  • 3M Co. - In December 2020, the company partnered with eMurmur. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The nonwoven filter media market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Nonwoven Filter Media Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the nonwoven filter media market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Nonwoven Filter Media Market?

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42% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for nonwoven filter media in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The significant increase in the demand for nonwoven filter media, owing to massive changes in industries such as water treatment, food and beverage, and healthcare, will facilitate the nonwoven filter media market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Owing to the outbreak of COVID-19, various governments imposed nationwide lockdowns in Q1 2020. As a result, various manufacturing activities that require filters were non-operational in countries such as India and China. However, the facemask production massively increased in China. For instance, daily mask production in China increased ten times compared to the pre-pandemic era. As nonwoven filter media is used in facemasks, this fueled the demand for nonwoven filter media products in 2020. During the forecast period, growing demand for the nonwoven filters in water treatment and healthcare industries will create lucrative opportunities for the vendors operating in the regional market of nonwoven filter media. 

What are the Revenue-generating End-user Segments in the Nonwoven Filter Media Market?

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The nonwoven filter media market share growth by the transportation segment will be significant during the forecast period. Sustained economic growth, growing industrialization, infrastructure development, and an increase in disposable income are likely to boost the demand for motor vehicles. This, in turn, is expected to generate demand for nonwoven filter media in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the nonwoven filter media market size and actionable market insights on post COVID-19 impact on each segment.

 

Nonwoven Filter Media Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.45%

Market growth 2022-2026

$ 2.40 billion

Market structure

Fragmented

YoY growth (%)

5.67

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key consumer countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., Ahlstrom Munksjo Oyj, Aim Nonwovens and Interiors Pvt. Ltd., Apextech Fiber Corp., Arrow Technical Textiles Pvt. Ltd., Berry Global Group Inc., Cerex Advanced Fabrics Inc., DuPont de Nemours Inc., Fitesa SA, Freudenberg SE, Ginni Spectra Pvt. Ltd., Johns Manville, Kimberly Clark Corp., Lydall Inc., M M HYDRO PNEUMATICS Pvt. Ltd., Park Industries, Sandler AG, Schweitzer Mauduit International Inc., Tulip Fabrics Pvt. Ltd., and TWE GmbH and Co. KG

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, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Nonwoven Filter Media Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive nonwoven filter media market growth during the next five years
  • Precise estimation of the nonwoven filter media market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the nonwoven filter media industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of nonwoven filter media market vendors

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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 End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Transportation - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Transportation - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Transportation - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Transportation - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Transportation - Year-over-year growth 2021-2026 (%)
    • 5.4 Water - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Water - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Water - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Water - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Water - Year-over-year growth 2021-2026 (%)
    • 5.5 HVAC - Market size and forecast 2021-2026
      • Exhibit 36: Chart on HVAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on HVAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on HVAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on HVAC - Year-over-year growth 2021-2026 (%)
    • 5.6 Food and beverage - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Food and beverage - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Food and beverage - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Food and beverage - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Food and beverage - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by End-user
      • Exhibit 48: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Japan - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 3M Co.
              • Exhibit 101: 3M Co. - Overview
              • Exhibit 102: 3M Co. - Business segments
              • Exhibit 103: 3M Co. - Key news
              • Exhibit 104: 3M Co. - Key offerings
              • Exhibit 105: 3M Co. - Segment focus
            • 10.4 Ahlstrom Munksjo Oyj
              • Exhibit 106: Ahlstrom Munksjo Oyj - Overview
              • Exhibit 107: Ahlstrom Munksjo Oyj - Product / Service
              • Exhibit 108: Ahlstrom Munksjo Oyj - Key news
              • Exhibit 109: Ahlstrom Munksjo Oyj - Key offerings
            • 10.5 Berry Global Group Inc.
              • Exhibit 110: Berry Global Group Inc. - Overview
              • Exhibit 111: Berry Global Group Inc. - Business segments
              • Exhibit 112: Berry Global Group Inc. - Key news
              • Exhibit 113: Berry Global Group Inc. - Key offerings
              • Exhibit 114: Berry Global Group Inc. - Segment focus
            • 10.6 Cerex Advanced Fabrics Inc.
              • Exhibit 115: Cerex Advanced Fabrics Inc. - Overview
              • Exhibit 116: Cerex Advanced Fabrics Inc. - Product / Service
              • Exhibit 117: Cerex Advanced Fabrics Inc. - Key offerings
            • 10.7 DuPont de Nemours Inc.
              • Exhibit 118: DuPont de Nemours Inc. - Overview
              • Exhibit 119: DuPont de Nemours Inc. - Business segments
              • Exhibit 120: DuPont de Nemours Inc. - Key offerings
              • Exhibit 121: DuPont de Nemours Inc. - Segment focus
            • 10.8 Fitesa SA
              • Exhibit 122: Fitesa SA - Overview
              • Exhibit 123: Fitesa SA - Product / Service
              • Exhibit 124: Fitesa SA - Key offerings
            • 10.9 Freudenberg SE
              • Exhibit 125: Freudenberg SE - Overview
              • Exhibit 126: Freudenberg SE - Business segments
              • Exhibit 127: Freudenberg SE - Key news
              • Exhibit 128: Freudenberg SE - Key offerings
              • Exhibit 129: Freudenberg SE - Segment focus
            • 10.10 Kimberly Clark Corp.
              • Exhibit 130: Kimberly Clark Corp. - Overview
              • Exhibit 131: Kimberly Clark Corp. - Business segments
              • Exhibit 132: Kimberly Clark Corp. - Key news
              • Exhibit 133: Kimberly Clark Corp. - Key offerings
              • Exhibit 134: Kimberly Clark Corp. - Segment focus
            • 10.11 Sandler AG
              • Exhibit 135: Sandler AG - Overview
              • Exhibit 136: Sandler AG - Product / Service
              • Exhibit 137: Sandler AG - Key offerings
            • 10.12 Schweitzer Mauduit International Inc.
              • Exhibit 138: Schweitzer Mauduit International Inc. - Overview
              • Exhibit 139: Schweitzer Mauduit International Inc. - Business segments
              • Exhibit 140: Schweitzer Mauduit International Inc. - Key offerings
              • Exhibit 141: Schweitzer Mauduit International Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 142: Inclusions checklist
                • Exhibit 143: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 144: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 145: Research methodology
                • Exhibit 146: Validation techniques employed for market sizing
                • Exhibit 147: Information sources
              • 11.5 List of abbreviations
                • Exhibit 148: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                  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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                  • 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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