A three-pronged approach was followed for deducing the circuit protection market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for circuit protection market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of circuit protection market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The circuit protection market was categorized into four segments, namely product (Circuit Breaker, Fuse, HD Pro, Inrush Current Limiter, Mobile Power Protection, Overvoltage Protection, GFCI, PTC Devices, ), application (Agriculture, Automotive, Commercial & Residential Building, Household Appliances, HVAC, Power Generation, Recreational Vehicle, Telecom), channel (OEM, Retail, Wholesale), and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).
The circuit protection market was segmented into product, application, channel, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The circuit protection market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Canada; Mexico; the UK; Germany; Rest of Europe; China; India; Japan; Rest of Asia Pacific.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The circuit protection market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
ABB Ltd. - ABB Ltd. is a technology company engaged in the design and manufacture of motion, electrification, and automation solutions. The company operates via four business segments, namely industrial automation, electrification, motion, and robotics & discrete automation. The company’s product portfolio includes control room solutions, drives, low voltage products & systems, medium voltage products, power converters and inverters, motors and generators, measurement analytics, mechanical power transmission, PLC automation, robotics, and metallurgy products.
Bel Fuse Inc. - Bel Fuse Inc. designs, manufactures, and markets a range of products that protect, power, and connect electronic circuits. The company’s products are mainly used in networking, computing, telecommunications, military, medical, automotive, consumer electronics, transportation, aerospace, and broadcasting industries. The company operates through three product segments, namely power solution & protection, magnetic solutions, and cinch connectivity solutions. Through the power solution & protection segment, the company offers front-end power supplies, board-mount power products, circuit protection products, module products, external power products, and industrial power products.
Schneider Electric SE - Schneider Electric SE offers energy management and automation solutions. The company operates in four business segments, namely Infrastructure, Buildings, Industry, and IT. The Buildings segment provides building automation and low-voltage power products & solutions. Schneider Electric offers transformers products through its Infrastructure segment.
Mitsubishi Electric Corporation - Mitsubishi Electric Corporation specializes in manufacturing electrical and electronic equipment. alizes in manufacturing electrical and electronic equipment. The company’s business is organized in five key segments including Industrial Automation Systems, Energy and Electric Systems, Electronic Devices, Information and Communication Systems, And Home Appliances.
Eaton Corporation plc - Eaton Corporation plc develops power management technologies. The company operates through six business segments, namely electrical Americas, electrical global, hydraulics, aerospace, vehicle, and emobility. The company’s electrical circuit protection products are offered under the electrical Americas and electrical global segments.
General Electric Company - General Electric Company is a technology company and a provider of financial services. The company’s energy connections & lighting segment develops technologies to optimize and deliver efficient and safe electrical power. The segment’s product offerings are used by incumbents of the mining, oil & gas, marine, and renewable energy industries.
Siemens AG - Siemens AG provides products and solutions for power generation & transmission and medical diagnosis applications. The company designs, develops, and manufactures products related to electrification, automation, and digitalization. Siemens AG’s business divisions include building technologies, digital factory, energy management, financial services, mobility, power & gas, power generation services, and process industries & drives. The mobility division offers products for electric vehicle charging stations.
Rockwell Automation, Inc. - Rockwell Automation, Inc. provides industrial automation and IT-based business solutions for industrial manufacturers. The company provides quality management products under its Manufacturing Execution System (MES) software product portfolio. The company provides quality management products under its Manufacturing Execution System (MES) software product portfolio. The new MES software is an essential component that improves and optimizes the quality of manufacturing operations. It integrates business analytics and quality management with production management to help organizations to improve their levels of quality and support regulatory compliance.
Larsen & Toubro Limited – Established in 1938 and located in Mumbai, India The company provides engineering, technology, manufacturing, construction, and financial services for numerous sectors globally. The company operates its business through three reportable segments, namely Engineering & Construction & Contracts Division, Electrical & Electronics, and Machinery & Industrial Products.
NXP Semiconductors N.V. - NXP Semiconductors N.V. provides semiconductor products and solutions for industrial manufacturers. The company’s business segment includes High Performance Mixed Signal (HPMS), Standard Products (SP), and Corporate, and Other. The company provides a broad portfolio of semiconductor products, including microcontrollers, application processors, connectivity chipsets, communication processors, analog and interface devices, security controllers, RF power amplifiers, and sensors. The company’s products are primarily focused on four end-markets characterized by long-term and attractive growth opportunities.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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