Research Methodology on Compactors Market
The research methodology applied in this research report is curated to arrive at reliable conclusions about the market situation of the Compactors industry and estimate future estimates of growth. The market size of the industry and other quantitative information are estimated using a comprehensive analysis of secondary and primary sources.
Secondary Research
Secondary research includes sources such as press releases, databases of key industry participants, government and regulatory published sources, and trade, business, and professional organizations. It is likely to provide third-party information, which can be cross-checked and compared across multiple sources. Additionally, the secondary research provides insights into other agnostic industries and markets, through which relevant trends can be identified and analyzed, which can help provide information on the current and future market estimation.
Primary Research:
Primary research includes inputs from industry experts, senior executives, and stakeholders of the Compactors industry, apart from conducting discussions with various industry participants and stakeholders in both – the demand and supply side. This is mainly done to encourage dialogue, which helps in obtaining exclusive knowledge and insights which have not yet been published on the Compactors market. It also allows the analyst to gather unbiased insights into the total market situation between which the demand side and supply side can be accurately measured to ensure optimal market estimations. The market sizing was then conducted and validated with input from both sides.
Bottom-Up Approach:
The bottom-up approach was applied to estimate the global market size by collecting data on the key industry players’ revenues and sales. The total market size was first estimated using revenue data from these companies, and then the total market value was estimated using the prices determined for the compactors used by the key players. The data collected from key players was cross-checked with the other key players to get accurate market sizing. Thus, the approach taken in estimating the market size was a bottom-up approach.
Top-Down Approach:
The top-down approach was used to validate the market size estimated using the bottom-up approach. It is used to ensure that accurate market estimates are obtained for the Compactors market. This approach also involved ascertaining the market size of the total industry based on the analyzed region. Thus, the assumptions were then made to arrive at the market size of the total industry, after which the estimated market size of the Compactors market was validated using this number.
Factor Analysis:
Factors analysis was used to derive the forecast estimations of the market size of the Compactors market, to arrive at market estimates for the different segmentations. These factors included Social and demographic influences such as the increasing focus on maximizing efficiency in operations, ease of installation and use of the compactors, and the increasing number of regulations globally, affecting the market. These factors were also taken into account to drive demand for the Compactors market.
Time Series Analysis:
Time series analysis was used to study the historical data of the Compactors market, analyze the market dynamics and forecast future estimates of the Compactors market. The data considered for this analysis was compiled using data from press releases, published journals, government sources, and magazines. This data was translated into statistical formats such as STDs and STEs to gain statistical insight into the Compactors market. Time-series analysis also helps in informing actionable insights to the market stakeholders such as Porter’s Five Forces Model and customer segmentation.
Demand Side and Supply Side Data Triangulation:
Data triangulation is the process of integrating two or more data sources to gain accurate and reliable market forecasts. Data was collected from both the demand side and the supply side to gain maximum insights into the market. For example, the demand side data which was collected was used to analyze the market potential of the Compactors market, which helped to gain maximum insights into the market behaviour and dynamics. On the other hand, supply-side data was used to assess the industry size and dynamics, including key players’ strategies, business models, and operations. This data was then integrated and validated with the demand-side data to gain an in-depth understanding of the market.
