We use the bottom-up approach to determine the Total Available Market within each industry,
and project data from authoritative sources to forecast market growth.
Our research utilizes Piping and Instrumentation Diagrams, Bills of Materials and input from end users, EPCs and other industry professionals to accurately profile all major equipment characteristics within a specific type of industrial infrastructure (process plants, storage and transportation facilities, etc.) representative of its kind. These characteristics include equipment types, counts, life cycle and value, among others. The resulting data is then translated into industry-specific factors serving as estimates of the global average equipment cost per applicable metric (e.g., globe valve expenditure per MW for CCGT power plants). Finally, up-to-date data on existing and planned infrastructure capacity is applied to these underlying factors to generate highly granular five-year forecasts for equipment expenditure segmented by equipment type, industry and sub-industry, country, region, original equipment vs aftermarket, etc.