FY2017 – FY2027
INDIA GALVANOMETER MARKET FORECAST & OPPORTUNITIES
www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report
Product of Interest (POI): Galvanometer
A galvanometer is an electromechanical measuring instrument for electric current. Early galvanometers were uncalibrated, but improved versions, called ammeters, were calibrated and could measure the flow of current more precisely.
Market Segmentation APPLICATION
TYPE D'Arsonval/Weston Galvanometer
•
Healthcare
•
Mirror
•
Telecommunication
•
Vibration
•
Industrial
•
Astatic
•
Commercial
•
Others
•
Others
•
Year Range Review Period
FY2017 – FY2020 Base Year
FY2021 REGION
FUNCTIONALITY •
Open Loop
•
North
•
Closed Loop
•
South
•
East
•
West
Estimated Year
FY2022 Forecast Period
FY2023 – FY2027
2
Table of Contents
Ta b l e o f C o n t e n t s
S. No.
Contents
1.
Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)
2.
Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.)
3.
Impact of COVID-19 on India Galvanometer Market
4.
Executive Summary (This chapter covers summary of the complete study.)
5.
Voice of Customers
6.
Page No.
India Galvanometer Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 6.1.
Market Size & Forecast (This chapter would include the market size i.e., the revenue generated from the India galvanometer market in one year. In this case, the market size will be provided in value terms for historic period (FY2017-FY2020); current/base year (FY2021); estimated year (FY2022E); and forecast (FY2023-FY2027)) 6.1.1.
6.2.
6.3.
By Value
Market Share & Forecast (The overall product of interest bifurcated/split among various segments. ) 6.2.1.
By Type (D'Arsonval/Weston galvanometer, Mirror, Vibration, Astatic and Others)
6.2.2.
By Functionality (Open Loop, Closed Loop)
6.2.3.
By Application (Healthcare, Telecommunication, Industrial, Commercial, Others)
6.2.4.
By Region
6.2.5.
By Top 10 States
6.2.6.
By Company (FY2021)
Product Market Map
3
Table of Contents S. No. 7.
Contents North India Galvanometer Market Outlook, FY2017-FY2027F 7.1.
Market Size & Forecast 7.1.1.
7.2.
8.
Page No.
By Value
Market Share & Forecast 7.2.1.
By Type
7.2.2.
By Functionality
7.2.3.
By Application
South India Galvanometer Market Outlook, FY2017-FY2027F 8.1.
Market Size & Forecast
8.1.1. 8.2.
By Value
Market Share & Forecast 8.2.1.
By Type
8.2.2.
By Functionality
8.2.3.
By Application
4
Table of Contents S. No. 9.
Contents West India Galvanometer Market Outlook, FY2017-FY2027F 9.1.
Market Size & Forecast 9.1.1.
9.2.
10.
Page No.
By Value
Market Share & Forecast 9.2.1.
By Type
9.2.2.
By Functionality
9.2.3.
By Application
East India Galvanometer Market Outlook, FY2017-FY2027F 10.1.
Market Size & Forecast
10.1.1. 10.2.
By Value
Market Share & Forecast 10.2.1.
By Type
10.2.2.
By Functionality
10.2.3.
By Application
5
Table of Contents
Ta b l e o f C o n t e n t s
S. No. 11.
Contents
Page No.
Market Dynamics 11.1.
Drivers
11.2.
Challenges
12.
Market Trends & Developments
13.
Policy & Regulatory Landscape
14.
Import & Export Analysis
15.
Competitive Landscape 15.1.
Competition Outlook
15.2.
Company Profiles (Leading 10 Companies)
15.2.1.
Company Details
15.2.2.
Products & Services
15.2.3.
Financials (As Reported)
15.2.4.
Key Market Focus & Geographical Presence
15.2.5.
Recent Developments
15.2.6.
Key Management Personnel
16.
Strategic Recommendations
17.
About Us & Disclaimer
6
RESEARCH METHODOLOGY
Research Methodology
Market Profiling
In-depth secondary research was conducted to determine top players in the India galvanometer market, overall market size and segmental market size.
Formulating Questionnaire
In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.
Developing List of Respondents
Data Collection
Data Validation
Data obtained as a result of primary and secondary research was validated through rigorous triangulation.
TechSci conducted interviews with industry experts and industry players for data collection and verification.
List of industry players and industry specialists was developed.
Primary Research
Data Collection
Data Filter & Analysis
Research & Intelligence
Actionable Insights
Business Solution
LinkedIn TechSci Internal Database
✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Conclusion
✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews
Primary Research ✓ ✓
Desk Research
Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓
Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.
Data Analysis
The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India galvanometer market.
Company Analysis ✓ Market Participants ✓ Key Strengths
Paid Sources
✓ ✓
Factiva Hoovers
8
Research Methodology Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of India galvanometer market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as galvanometer. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India galvanometer
market.
Methodology Followed for Calculation of Market Size:
•
Market Size By Value: Market size, in terms of value, for the year FY2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as galvanometer manufacturer & supplier companies, channel partners, market influencers & end users, industry experts, and other industry participants.
•
The team interviewed more than 15 – 20 galvanometer manufacturer & supplier companies, 45 – 50 channel partners, and 15 – 20 industry experts and other value chain stakeholders in India galvanometer market to obtain the overall market size for FY2017-FY2021, which was
validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2017-FY2021.
9
Research Methodology •
Respondents were asked about the current and future market growth rates, market shares by type, by functionality, by application, by region, by top 10 states and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares: •
Market shares by type, by functionality, by application, by region, by top 10 states and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of galvanometer market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting: •
TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.
•
Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India galvanometer market, TechSci Research used various forecast techniques such as:
✓
Moving Average
✓
Time Series Analysis
✓
Regression Analysis
✓
Econometric and Judgmental Analysis
10
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market number. It should be
noted that the figures compiled are only for the organized market including market share data.
Partial List of Companies Interviewed
Key Secondary Sources
▪ Cambridge Technology Inc.
▪ Society of Indian Automobile Manufacturers
▪ Aerotech, Inc.
▪ World Bank
▪ PhenixTechnology
▪ TechSci Research Proprietary Database & Knowledge
▪ Sino-Galvo
Repository
▪ BNR Exports
▪ Company Annual Reports
▪ Vishawkarma Scientific Works
▪ Industry Magazines
▪ Hoverlabs
▪ Industry Reports
▪ Labcare Instruments & International Services
▪ News Dailies
▪ OSAW India
▪ Credible Paid Databases
▪ ScanLab.
11
Industry Brief According to TechSci Research report, “India Galvanometer Market By Type (Thermo, String, Mirror, Vibration, Ballistic, Astatic) By Glass Panel (Coloured, Transparent, Opaque, Others) By Application (Healthcare, Telecommunication, Industrial, Commercial, Others), By Region, Company Forecast & Opportunities, FY2027”, The India galvanometer market is expected to witness steady growth in the forecast period, FY2023-FY2027. A galvanometer is a device that is used to identify and measure the amount of current flowing through the circuit. Depending on the capability of the galvanometers to measure and identify the current, it is used in different applications. Development of the telecommunication network and the rollout of 5G technology coupled with the growing adoption of the latest technologies such as artificial intelligence, big data analytics, machine learning, amongst others are contributing to the increase in the growth of the telecommunication industry. The ability of the galvanometers to detect errors in the telecommunication cables is expected to create lucrative opportunities for the galvanometer market growth in the next five years. Galvanometers are used for the positioning of the pens in the analog strip recorders such as electrocardiographs, polygraphs, and others. These are also used in the positioning and control systems and the mirror galvanometers are used as beam positioning and beam steering in laser technology. The closed-look mirror galvanometers are used in imaging applications as well as for retinal scanning. Openloop galvanometers are used in space applications, printing applications, and laser-based barcode scanners. Due to the ongoing pandemic COVID-19, the lockdown was imposed all over the country. A complete shutdown was observed, and people started practicing social distancing and following the precautionary guidelines. The imposition of strict regulations and guidelines by the leading authorities led to the huge losses suffered by the businesses. Manufacturing units were shut down and the loss of availability of skilled laborers led to the market decline. The number of units imported or exported to other countries also suffered a huge loss. After the lifting of lockdown, companies are expected to be again operational, and the market is eventually expected to pick up the pace. However, the limitation of the galvanometer is that it can measure the AC quantities may hamper the galvanometer market growth in the forecast period. India galvanometer market is segmented into type, glass panel, application, regional distribution, and company. Based on the type, the market can be divided into thermo, string, mirror, vibration, ballistic, and astatic. The Thermo galvanometer is used for measuring a small amount of current. The string galvanometer is used for measuring small currents in the human body and was also used in the first practical Electrocardiogram. A mirror galvanometer uses a mirror to deflect the light beam away from it in order to tell the presence of electric current. The vibration galvanometer is a type of frequency-sensitive galvanometer and in it, the measured current and oscillation frequency of the moving element becomes the same. It is used for the detection of a small current. The ballistic galvanometer is also known as the PMMC instrument and works on the principle of a permanent magnet moving coil. Astatic galvanometer uses two needles with opposite polarities to lower the effect of the earth’s magnetism. Cambridge Technology Inc., Aerotech, Inc., PhenixTechnology, Sino-Galvo, BNR Exports, Vishawkarma Scientific Works, Hoverlabs, Labcare Instruments & International Services, OSAW India, ScanLab are the leading players operating in India galvanometer market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several galvanometer manufacturers are coming up with their technologically advanced offerings. “The high-end investments by the market players for the up-gradation of the existing infrastructure and the rise in applications of advanced galvanometers in the biomedical field are driving the galvanometer market growth. The high demand from the healthcare sector to perform Optical Coherence Tomography, microscopy, laser treatments, and DNA sequencing, amongst others are influencing the demand for galvanometers in India. Due to the several advantages offered by the galvanometer such as optimized thermal resistance and low heat generation, the integration of galvanometers can be easily done with handheld medical devices or complex medical instruments is expected to propel the galvanometer market growth till FY2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
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Sample Data - Snapshot India Galvanometer Market Size, By Value (USD Million), FY2017–FY2027F
5.00
8.00
7.00
6.00
FY2017
9.00
10.00
FY2021
FY2022E
11.00
12.00
13.00
FY2027F
CAGR BY VALUE: XX%
CAGR BY VALUE: XX%
India Galvanometer Market Share, By Type, By Value, FY2017–FY2027F D'Arsonval/Weston galvanometer Mirror Vibration Astatic FY2027F FY2026F FY2025F FY2024F FY2023F FY2022E FY2021 FY2020 FY2019 FY2018 FY2017
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
15.00
14.00
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
Others 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
North India Galvanometer Market Share, By Functionality, By Value, FY2017–FY2027F Open Loop FY2027F FY2026F FY2025F FY2024F FY2023F FY2022E FY2021 FY2020 FY2019 FY2018 FY2017
50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
Closed Loop 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
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Report Name: INDIA GALVANOMETER MARKET FORECAST & OPPORTUNITIES FY2017 – FY2027
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About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
