Thermoplastic Micro Molding Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Jul 2022 Pages: 132 SKU: IRTNTR73995

The thermoplastic micro molding market share is expected to increase by USD 804.31 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 13.62%.

This thermoplastic micro molding 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 thermoplastic micro molding market segmentation by end-user (medical, electronics, automotive, packaging, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The thermoplastic micro molding market report also offers information on several market vendors, including ACCU Mold LLC, Advanced Plastiform Inc., American Precision Products, EPTAM Precision, Isometric Micro Molding Inc., Makuta Inc., MTD Micro Molding, PRECIKAM Inc., Rapidwerks Inc., Scientific Molding Corp. Ltd., Sovrin Plastics, Springboard Manufacturing, STAMM AG, Star Rapid, Veejay Plastic Injection Molding Co., and Natech Plastics Inc. among others.

What will the Thermoplastic Micro Molding Market Size be During the Forecast Period?

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Thermoplastic Micro Molding Market: Key Drivers, Trends, and Challenges

The strong demand from the automotive industry is notably driving the thermoplastic micro molding market growth, although factors such as the increasing disparity between demand and supply may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the thermoplastic micro molding industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Thermoplastic Micro Molding Market Driver

One of the key factors driving growth in the thermoplastic micro molding market is the strong demand from the automotive industry. Thermoplastic micro molding is increasingly used in interior and exterior automotive applications to replace traditional materials, such as metal and other engineering thermoplastics. Thermoplastic micro molding offers various advantages such as UV protection, optimum balance of stiffness, cold temperature impact, and low thermal expansion, making them ideal for automobile applications. Increasing disposable incomes, particularly in emerging nations, are expected to increase demand for vehicles in the automotive sector and increase the number of first-time buyers. The increase in the middle-class population in China, India, Brazil, and South Korea with increasing household earnings is expected to drive the growth of the automotive industry, which, in turn, will drive the growth of the global thermoplastic micro molding market.

Key Thermoplastic Micro Molding Market Trend

The increasing opportunities in APAC is a thermoplastic micro molding market trend that is expected to have a positive impact in the coming years. In the automotive industry, thermoplastic micro molding is used in various automotive components such as doors and acoustic panels, instrument panels, anti-vibration panels, seats, and airbags. The growth of the automotive industry in APAC is expected to drive the demand for thermoplastic micro molding. APAC is likely to register the highest growth in the thermoplastic micro molding market during the forecast period due to the rapidly increasing population and rising purchasing power of individuals. The substantial incentives for the assembly and sales of small and fuel-efficient passenger vehicles propel the automotive industry in Indonesia, Thailand, and Malaysia. Thus, increasing opportunities in APAC will positively impact the growth of the global thermoplastic micro molding market.

Key Thermoplastic Micro Molding Market Challenge

The increasing disparity between demand and supply will be a major challenge for the thermoplastic micro molding market during the forecast period. The global thermoplastic micro molding market witnessed drastic disparities between the demand for and supply of thermoplastic micro molding products in 2020. The rapidly expanding middle-class population in Latin America led to an increased demand for thermoplastic micro molding in the region, which accounts for more than 6.8 million metric tons. Countries such as India and China are expected to add to the global deficit concerning the demand and supply of thermoplastic micro molding in the coming years. The insufficient production of thermoplastic micro molding is expected to continue during the forecast period due to the lack of future capacity expansion of thermoplastic micro molding. Such factors are expected to negatively impact the growth of the market in focus.

This thermoplastic micro molding 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 thermoplastic micro molding 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 thermoplastic micro molding market during the forecast period.

Who are the Major Thermoplastic Micro Molding Market Vendors?

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

 

  • ACCU Mold LLC
  • Advanced Plastiform Inc.
  • American Precision Products
  • EPTAM Precision
  • Isometric Micro Molding Inc.
  • Makuta Inc.
  • MTD Micro Molding
  • PRECIKAM Inc.
  • Rapidwerks Inc.
  • Scientific Molding Corp. Ltd.
  • Sovrin Plastics
  • Springboard Manufacturing
  • STAMM AG
  • Star Rapid
  • Veejay Plastic Injection Molding Co.
  • Natech Plastics Inc.

 

This statistical study of the thermoplastic micro molding market encompasses successful business strategies deployed by the key vendors. The thermoplastic micro molding market is fragmented and the vendors are deploying growth strategies such as focusing on innovations to compete in the market.

Product Insights and News

  • accu-mold.com - The company offers thermoplastic micro molding which is designed for applications like diffractive optics and microlenses.

  • accu-mold.com - Under the unified segment, the company is involved in offering to manufacture small and microinjection molded components which serve the markets of microelectronics, automotive electronics, medical micro molding, and many more.

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 thermoplastic micro molding 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.

Thermoplastic Micro Molding Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the thermoplastic micro molding 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 Thermoplastic Micro Molding Market?

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44% of the market’s growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for thermoplastic micro molding in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The major end-user industries in the thermoplastic micro molding market, such as automotive, medical, and electronics, have been witnessing growth in APAC owing to the significant economic growth of the region. This will facilitate the thermoplastic micro molding 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

The outbreak of COVID-19 in 2020 hampered the demand for thermoplastic micro molding from the consumer goods and manufacturing industries in APAC. In March 2020, India imposed a complete lockdown to prevent the community spread of the disease. All manufacturing industries were adversely affected, as their production units were either shut down or halted operations temporarily. However, in 2021, with the initiation of COVID-19 vaccination drives, industries such as electronics and automotive resumed operations, which, in turn, is expected to drive the growth of the thermoplastic micro molding market during the forecast period.

What are the Revenue-generating End-user Segments in the Thermoplastic Micro Molding Market?

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The thermoplastic micro molding market share growth by the medical segment will be significant during the forecast period. The global medical device market has been growing at a significant rate during the past few years, with increasing R&D expenditure by manufacturers to differentiate their products. Although earlier, the R&D activities in the medical industry were concentrated in developed regions such as North America and Europe, they are gaining prominence in emerging economies, particularly APAC, due to the growth in medical tourism.

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

 

Thermoplastic Micro Molding Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 13.62%

Market growth 2022-2026

$ 804.31 million

Market structure

Fragmented

YoY growth (%)

13.2

Regional analysis

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

Performing market contribution

APAC at 44%

Key consumer countries

US, China, Japan, South Korea, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ACCU Mold LLC, Advanced Plastiform Inc., American Precision Products, EPTAM Precision, Isometric Micro Molding Inc., Makuta Inc., MTD Micro Molding, PRECIKAM Inc., Rapidwerks Inc., Scientific Molding Corp. Ltd., Sovrin Plastics, Springboard Manufacturing, STAMM AG, Star Rapid, Veejay Plastic Injection Molding Co., and Natech Plastics Inc.

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 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 Thermoplastic Micro Molding Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive thermoplastic micro molding market growth during the next five years
  • Precise estimation of the thermoplastic micro molding market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the thermoplastic micro molding industry across APAC, Europe, North America, 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 thermoplastic micro molding market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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 Medical - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Medical - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Medical - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Medical - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Medical - Year-over-year growth 2021-2026 (%)
    • 5.4 Electronics - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Electronics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Electronics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Electronics - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Electronics - Year-over-year growth 2021-2026 (%)
    • 5.5 Automotive - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Automotive - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
    • 5.6 Packaging - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Packaging - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Packaging - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Packaging - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Packaging - 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 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on North America - 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 Japan - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 France - Market size and forecast 2021-2026
      • Exhibit 90: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.13 South Korea - Market size and forecast 2021-2026
      • Exhibit 94: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
      • Exhibit 95: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
      • Exhibit 96: Chart on South Korea - Year-over-year growth 2021-2026 (%)
      • Exhibit 97: Data Table on South Korea - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 98: 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 99: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 101: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 102: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 103: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 104: Matrix on vendor position and classification
            • 10.3 ACCU Mold LLC
              • Exhibit 105: ACCU Mold LLC - Overview
              • Exhibit 106: ACCU Mold LLC - Product / Service
              • Exhibit 107: ACCU Mold LLC - Key offerings
            • 10.4 Advanced Plastiform Inc.
              • Exhibit 108: Advanced Plastiform Inc. - Overview
              • Exhibit 109: Advanced Plastiform Inc. - Product / Service
              • Exhibit 110: Advanced Plastiform Inc. - Key offerings
            • 10.5 EPTAM Precision
              • Exhibit 111: EPTAM Precision - Overview
              • Exhibit 112: EPTAM Precision - Product / Service
              • Exhibit 113: EPTAM Precision - Key offerings
            • 10.6 Makuta Inc.
              • Exhibit 114: Makuta Inc. - Overview
              • Exhibit 115: Makuta Inc. - Product / Service
              • Exhibit 116: Makuta Inc. - Key offerings
            • 10.7 Natech Plastics Inc.
              • Exhibit 117: Natech Plastics Inc. - Overview
              • Exhibit 118: Natech Plastics Inc. - Product / Service
              • Exhibit 119: Natech Plastics Inc. - Key offerings
            • 10.8 PRECIKAM Inc.
              • Exhibit 120: PRECIKAM Inc. - Overview
              • Exhibit 121: PRECIKAM Inc. - Product / Service
              • Exhibit 122: PRECIKAM Inc. - Key offerings
            • 10.9 Sovrin Plastics
              • Exhibit 123: Sovrin Plastics - Overview
              • Exhibit 124: Sovrin Plastics - Product / Service
              • Exhibit 125: Sovrin Plastics - Key offerings
            • 10.10 Springboard Manufacturing
              • Exhibit 126: Springboard Manufacturing - Overview
              • Exhibit 127: Springboard Manufacturing - Product / Service
              • Exhibit 128: Springboard Manufacturing - Key offerings
            • 10.11 STAMM AG
              • Exhibit 129: STAMM AG - Overview
              • Exhibit 130: STAMM AG - Product / Service
              • Exhibit 131: STAMM AG - Key offerings
            • 10.12 Star Rapid
              • Exhibit 132: Star Rapid - Overview
              • Exhibit 133: Star Rapid - Product / Service
              • Exhibit 134: Star Rapid - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 135: Inclusions checklist
                • Exhibit 136: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 137: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 138: Research methodology
                • Exhibit 139: Validation techniques employed for market sizing
                • Exhibit 140: Information sources
              • 11.5 List of abbreviations
                • Exhibit 141: 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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                  • 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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