MWR’s research methodology is based on extensive use of secondary and primary data sources. The research involves the analysis of various aspects impacting the industry, including the policies of the government, the competitive landscape, the market environment and historical data, as well as current developments in the market technological innovation, emerging technologies, and the advancement of technology in related industries, and potential market risks as well as market barriers and issues.
Market Size Estimation
Bottom-up and top-down approaches are employed to verify the size of the global product market and to estimate the size of the market for companies’ regions, regions segment as well as product segments and applications (end users). The market estimates are built on the product’s retail price (excluding discounts offered by the distributor, manufacturer, wholesaler, trader, or).
Partially splits, market shares and breakdown of product segments are calculated based on the weights allocated to each segment based on their usage rate and average sale price. The regional splits of the total product market and sub-segments are determined by the per cent of adoption or use of the particular product within the specific region or country.
Top key players of the market is determined through secondary data, and the market revenue is determined by secondary and primary approach. Secondary research comprised the study of financial and annual reports of the largest companies. In contrast, primary research involved extensive interviews with opinion makers and experts in the industry like experienced front-line employees, directors, CEOs, and marketing managers.
The market share, percentage splits and Growth Rate, as well as the market structure of the product, are calculated from secondary sources and then verified by primary sources. All potential factors that affect the markets are verified by conducting primary analysis, and then analyzed to obtain the final qualitative and quantitative results.
Market Breakdown, Data and Triangulation
After completing market engineering, including calculations of market statistics, size estimations, forecasting of market breakdown, and data triangulation, a lot of analysis are then conducted to collect details and to confirm the numbers to be verified.
Throughout the entire method of market engineering, top-down and bottom-up methods are were widely used, together with a variety of triangulation techniques for market estimation and forecasting of market trends for the entire market segment and sub-segments . A thorough analysis of quantitative data is also carried out using all the data gathered during the entire market engineering process to present important information throughout the research.
Secondary sources include annual reports, press releases, non-profit organizations and industry associations, government agencies, customs information, and others. This study focuses on extensive use of secondary sources, directories, databases, and directories like Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones and Company) and trading ECONOMICS and News Network, Statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS and company house documents CAS (American Chemical Society) and investor presentations along with SEC filings of corporations.
Secondary research are utilized to discover and gather details that could be used for a thorough technological, market-oriented and commercial analysis of the product market. It also helps collecting necessary information on the most prominent companies, market classification and segmentation by market trends from the lowest level, and critical technological and market developments.
For the research process, different sources from both the demand and supply sides are being interviewed to collect quantitative and qualitative information. The primary sources on the supply side comprise companies (and their rivals) and opinion leaders, experts from the industry and research institutes, distributors, traders and dealers, raw material suppliers and producers, etc.
The primary sources for demand-side information are industry experts, such as business leaders, sales and marketing directors, directors of innovation and technology supply chain executives, the market (product buyers) and top executives from a variety of key organizations and companies operating globally.
The primary studies are then conducted to find segments, types of segmentation, price ranges, application of the product important company, raw materials supply and demand downstream as well as the status of the industry and its forecast, and the fundamental market dynamics, such as risk factors, influence factors and opportunities obstacles to market entry, trends in the industry, and the strategies of key players.
COVID-19 impact Analysis
To understand the impact of COVID, we must understand the supply chain of the industry and the value chain. By analyzing the supply chain, we understand the bottlenecks affecting the industry’s growth. And by analyzing the value chain, we understand what value each component adds to the entire industry. We then try to understand the COVID impact has on the industry by trying to find answers to the following questions:
- How many jobs have been lost?
- How many people have died due to COVID?
- How did the Government respond, and what measures Government has taken to revive a particular industry?
- How companies have responded to COVID?
- What growth rate companies are expecting?
We also analyze their annual reports and press releases to understand their strategies post COVID. Then we move towards the primary research part and contact government officials and industry experts such as CEOs, COOs, Directors, VPs, Directors and Managers to understand what impact COVID has had on their businesses and what they are doing to cope with it.
We also try to understand their views regarding other financial aspects, such as recovery and obstacles in achieving pre-COVID growth and when they expect to achieve it.
Finally, after gathering the info from secondary and primary research, we try to form a model through which we gauge the COVID impact on a particular industry.
Each market is unique and has distinct features and risks that affect it in different ways. We try to discover patterns and commonalities in order to discover the real trends. Therefore, we use customized forecasting models that employ an amalgamation of traditional methods for forecasting time series modified to take into account the impact of current events that could affect the future and current prospects on the financial market.
The techniques we employ to forecast include a combination with regression analysis as well as exponential smoothing to align our analysis of predictive power with current trends and quickly shift business cycles. In the case of seasonal markets We employ hybrid forecasting techniques that incorporate spectral analysis in conjunction with the decomposition method of forecasting.
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