Global Forklift Truck Market, by Product Type (Warehouse and Counterbalance), by Class (Electric Motor Rider Trucks, Electric Motor Narrow Aisle Trucks, Others), by Engine Power (Internal Combustion Engine Power and Electric Power), by Fuel Type (Diesel, Gasoline & LPG/CNG, and Electric/Hybrid), by Lifting Capacity, by End-use Industry (Retail & Wholesale, Transportation & Logistics, and Others), and by Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

  • Published On : Oct 2017 |
  • Pages : 300 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Forklift Truck Market

The global forklift truck market is projected to reach US$ 23.81 billion by 2025, exhibiting a CAGR of 3.74% over the forecast period. Forklift trucks are used as industrial lifting trucks. These trucks are utilized to relocate goods from one place to another. Forklift trucks are mostly used in manufacturing and warehouse industries, as these industries involve relocation of heavy products in a short period of time, to accelerate the production process.

Forklift Truck Market Drivers

forklift truck market

Source: Coherent Market Insights 2017

Counterbalance segment holds the highest market share

Among product type, the counterbalance type forklift truck segment held the largest market share in 2016. The warehouse type segment is expected to exhibit a highest CAGR over forecast period.  

Electrically powered segment holds a dominant position

Among engine, the electrically powered segment accounted for a major market share in 2016, owing to the growing demand for electrically powered forklift trucks in emerging economies such as China, India, and Brazil. This segment is projected to be the fastest growing segment during the forecast period due to increasing focus on fuel efficiency and emission control.

Retail and wholesale segment is expected to be the fastest growing segment

Among end-use industry, the retail and wholesale segment is projected to witness the highest CAGR over the forecast period. Due to improved transportation system, the trade barriers across the world have reduced, thus increasing the supply of goods in warehouses. Europe holds the largest market share for the retail and wholesale segment.

Under 5 ton segment holds the highest market share in the global forklift market

Among lifting capacity, the under 5 ton capacity segment is expected to hold the major market share and is projected to exhibit a higher CAGR over the forecast period. The < 5 ton capacity forklift trucks are usually involve battery-electric forklifts. Demand for electrically powered forklift trucks are rapidly increasing due to their environment friendly nature. They are also relatively more silent while processing, easier to operate, and incur lesser operational & maintenance costs as compared to IC engine powered forklift trucks.

The class III segment is expected to witness fastest

The Class III type of forklift truck includes electric motor pedestrian trucks. This segment is projected to witness highest growth over the forecast period, owing to increasing demand for electric forklift truck in material handling departments and warehouses. This demand is driven by the environment friendly and cost-effective nature of these trucks.

Asia-Pacific accounted for the largest market share

Asia-Pacific is expected to hold the largest market share due to high demand for forklift trucks in emerging economies such as China and India. The region accounted for 37.56% market share in 2016 and projected to exhibit a higher CAGR over the forecast period.

European holds the second largest market share in the global forklift truck market, followed by North America. Growth in these regions are associated with high demand for electric powered vehicles and the growing warehouse segment. Germany accounts for the major market for forklift trucks in Europe.

Major players operating in the global forklift truck market include Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, and Hyster-Yale Materials Handling, Inc.

The global forklift truck market was valued at US$ 17.74 billion in 2016 and is projected to exhibit a CAGR of 3.74% over the forecast period, reaching US$ 23.81 billion by 2025. Fork lift trucks are mainly used for material handling, lifting, and stacking of discrete loads throughout the facility. These vehicles can be used with a variety of attachments such as clamps, grippers, and platforms to move and handle different types of materials and loads. Expansion of the logistics industry and economic growth in emerging economies have led to increasing logistics volume, therefore boosting growth of the forklift trucks market.

Market Dynamics

According to this report, one of the major growth drivers of the forklift market include increasing demand for these forklift trucks in the global e-commerce and warehouse sectors, increasing demand for global trade, growth in the container and shipping industry, and rampant globalization of supply chains. The global e-commerce market is expected to witness steady growth, exhibiting a CAGR of over 12% over the forecast period. Growth of the e-commerce market is driven by diverse portfolio of product segments such as electronic gadgets, apparels, books, and cosmetics. However, high costs of battery-operated and fuel-cell forklift coupled with the growing environmental concerns regarding the use of IC-engine type forklift trucks are expected to hinder growth of the forklift market over the forecast period. Some of the major trends identified in the forklift truck market are increasing demand for battery-operated forklifts to reduce CO2 emission from IC engine powered trucks and increasing demand for automation in emerging economies.

Market Taxonomy

This report segments the global forklift truck market on the basis of product type, class, engine power, fuel type, end-use industry, lifting capacity, and geographical region. On the basis of product type, the global forklift market is segmented into warehouse and counterbalance. Warehouse segmented is further sub-segmented into pedestrian and rider. On the basis of class, the market is segmented into electric motor rider trucks, electric motor narrow aisle trucks, electric motor pedestrian trucks, internal combustion engine trucks (solid/cushion tires), electric and internal combustion engine tractors, and rough terrain. On the basis of engine, the market is segmented into IC engine and electric power engine. On the basis of fuel type, the market is segmented into diesel, gasoline& LPG/CNG, and electric/hybrid. On the basis of end-use industry, the market is segmented into Retail & Wholesale, transportation & logistics, Automotive and Electrical Engineering, Food Industry, and other industries (chemical, wooden, and paper & print industry). On the basis of geography, the forklift market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East.

Key features of the study:

  • This report provides an in-depth analysis of the forklift market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025), considering 2016 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global forklift market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Mitsubishi Nichiyu Forklift Co., Ltd., UniCarriers corp., Anhui Heli Co., Ltd., Komatsu Ltd., Clark Material Handling Company, Doosan Industrial Vehicle and Hangcha Group Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
  • The global forklift market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the forklift market

Detailed Segmentation:

  • Global Forklift Truck Market, By Product Type:
    • Warehouse
      • Pedestrian
      • Rider
    • Counterbalance
  • Global Forklift Truck Market, By Class:
    • Class I : Electric Motor Rider Trucks
    • Class II : Electric Motor Narrow Aisle Trucks
    • Class III : Electric Motor Pedestrian Trucks
    • Class IV : Internal Combustion Engine Trucks (Solid/Cushion Tires)
    • Class V : Electric and Internal Combustion Engine Tractors
    • Class VI: Rough Terrain Forklift Trucks
  • Global Forklift Truck Market, By Fuel Type:
    • Diesel
    • Gasoline& LPG/CNG
    • Electric/Hybrid
  • Global Forklift Truck Market, By Engine Type:
    • IC Engine Power
    • Electric Power
  • Global Forklift Truck Market, By End-use Industry:
    • Passenger Cars
    • Retail & Wholesale
    • Transportation & logistics
    • Automotive and Electrical engineering
    • Food Industry
    • Other Industries (Chemical, Timber, and Paper & Print Industry)
  • Global Forklift Truck Market, By Lifting Capacity:
    • <5 ton
    • 5 ton - 10 ton
    • 11 ton - 36 ton
    • >36 ton
  • Global Forklift Truck Market, By Geography:
    • North America
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Class, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Fuel Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Engine Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
      • U.S.
      • Canada
    • Europe
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Class, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Fuel Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Engine Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Class, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Fuel Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Engine Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Latin America
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Class, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Fuel Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Engine Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Class, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Fuel Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Engine Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
      • GCC
      • Israel
      • Rest of Middle East
  • Company Profiles
    • Toyota Industries Corporation *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Daimler AG
    • Kion Group AG 
    • Jungheinrich AG 
    • Hyster-Yale Materials Handling, Inc. 
    • Crown Equipment Corporation 
    • Mitsubishi Nichiyu Forklift Co., Ltd. 
    • UniCarriers corp.
    • Anhui Heli Co., Ltd. 
    • Komatsu Ltd. 
    • Clark Material Handling Company 
    • Doosan Industrial Vehicle
    • Hangcha Group Co., Ltd.
  • Available Customizations
    • Automated Material Handling Equipment Market
    • Global Cranes Market
    • Global Telehandlers Market for Construction Industry

*Browse all the market data tables and figures on "Global Forklift Truck Market - Global forecast to 2025”.

Table of Contents

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet By Class
      • Market Snippet By Fuel Type
      • Market Snippet By Engine Type
      • Market Snippet By Lifting Capacity
      • Market Snippet By End-User Industry
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • Merger and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Forklift Truck Market Analysis, By Product Type, 2016 - 2025
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Warehouse
      • Introduction
      • Market Size and Future Potential, 2015 - 2025
      • Industry Segment Analysis
        • Pedestrian
        • Rider
    • Counterbalance
      • Introduction
      • Market Size and Future Potential, 2015 - 2025
  5. Global Forklift Truck Market, By Class, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Electric Motor Rider Trucks
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Electric Motor Narrow Aisle Trucks
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Electric Motor Pedestrian Trucks
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Internal Combustion Engine Trucks (solid/cushion tires)
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Electric and Internal Combustion Engine Tractors
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Rough Terrain Forklift Trucks
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
  6. Global Forklift Truck Market, By Fuel Type, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Diesel
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Gasoline & LPG/CNG
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Electric/Hybrid
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
  7. Global Forklift Truck Market, By Engine Type, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • IC Engine Power
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Electric Power
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
      • Market Size and Future Potential, 2015 - 2025
  8. Global Forklift Truck Market, By Lifting Capacity, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • <5 Ton
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • 5 Ton – 10 Ton
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • 11 Ton – 36 Ton
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • >36 Ton
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
  9. Global Forklift Truck Market, By End Users, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Retail and Wholesale
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Transportation and Logistics
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Automotive and Electrical Engineering
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Food Industry
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Other Industries (Chemical, Timber, and Paper and Print Industry)
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
  10. Global Forklift Truck Market, By Regions, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2015 and 2025 (%)
      • Y-O-Y Growth Analysis, For Regions, 2015 - 2025
    • North America
      • Introduction
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Class, 2015 - 2025
      • Market Size and Forecast, By Fuel Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Engine Type, 2015 - 2025
      • Market Size and Forecast, By End Users, 2015 - 2025 (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Class, 2015 - 2025
      • Market Size and Forecast, By Fuel Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Engine Type, 2015 - 2025
      • Market Size and Forecast, By End Users, 2015 - 2025 (US$ Million)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Class, 2015 - 2025
      • Market Size and Forecast, By Fuel Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Engine Type, 2015 - 2025
      • Market Size and Forecast, By End Users, 2015 - 2025 (US$ Million)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Class, 2015 - 2025
      • Market Size and Forecast, By Fuel Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Engine Type, 2015 - 2025
      • Market Size and Forecast, By End Users, 2015 - 2025 (US$ Million)
        • Brazil
        • Mexico
        • Rest of Latin America
    • Africa
      • Introduction
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Class, 2015 - 2025
      • Market Size and Forecast, By Fuel Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Engine Type, 2015 - 2025
      • Market Size and Forecast, By End Users, 2015 - 2025 (US$ Million)
        • South Africa
        • Central Africa
        • Northern Africa
    • Middle East
      • Introduction
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Class, 2015 - 2025
      • Market Size and Forecast, By Fuel Type, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Engine Type, 2015 - 2025
      • Market Size and Forecast, By End Users, 2015 - 2025 (US$ Million)
        • GCC Countries
        • Israel
  11. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Toyota Industries Corporation Group
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Diamler AG
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Kion Group AG
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Jungheinrich AG
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Hyster-Yale Materials Handling, Inc.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Crown Equipment Corporation
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Mitsubishi Nichiyu Forklift Co., Ltd.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Unicarriers Corporation
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Anhui Heli Company Limited
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Komatsu Ltd.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Clark Material Handling Company
        • Company Overview
        • Business Focus
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Doosan Industrial Vehicle
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Hangcha Group Co. Ltd.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  12. Section
    • References
    • Research Methodology
    • About us and Sales Contact
    • Available Customizations
      • Automated Material Handling Equipment Market
      • Global Cranes Market
      • Global Telehandlers Market for Construction Industry

*Browse 50 market data tables and 30 figures on "Forklift Truck Market - Global forecast to 2025”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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