North America Transportation Composites Market (2024-2029)

RESEARCH METHODOLOGY

The study involves two major activities in estimating the current size of the transportation composites market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

Secondary sources referred to for this research study include financial statements of companies offering transportation composites and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the transportation composites market, which was validated by primary respondents.

Primary Research

Extensive primary research was conducted after obtaining information regarding the transportation composites market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from composites industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the composites, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of composites and future outlook of their business which will affect the overall market.

Following is the breakdown of primary respondents:

Notes: Tiers of companies are selected based on their ownership and revenues in 2023.

Source: Secondary Research, Expert Interviews, and MarketsandMarkets Analysis

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Market Size Estimation:

The research methodology used to estimate the size of the transportation composites market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations of composites in different applications at a regional level. Such procurements provide information on the demand aspects of the transportation composites industry for each application. For each application, all possible segments of the transportation composites market were integrated and mapped.

Transportation Composites Market Size: Botton Up Approach

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Transportation Composites Market Size: Top Down Approach

Data Triangulation

After arriving at the overall transportation composites market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the automotive & transportation, wind energy, aerospace & defense, construction & infrastructure end-use industries. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Market Definition

Transportation composites are made using fibers that are impregnated with high-performance resins. These fibers can be glass, carbon, or natural fiber. Transportation composites are typically used in interior, exterior, and other applications in the aerospace & defense, railways, waterways, and roadways sectors. These composites primarily use either thermoset or thermoplastic resins for impregnation.

Key Stakeholders

• Transportation Composites manufacturers and distributors
• Key application segments for composites
• Research and consulting firms
• R&D institutions
• Associations and government institutions
• Environmental support agencies

Report Objectives

• To analyze and forecast the global transportation composites market, in terms of both value and volume
• To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To analyze the market segmentation and forecast the market size based on type, application, and end-use industry
• To strategically analyze the markets with respect to individual growth trends, prospects, and contribution to the global market
• To analyze the opportunities in the market for stakeholders and provide a competitive landscape of market leaders
• To analyze competitive development strategies, such as acquisition, new product launch, and expansion in the market
• To strategically profile key players and comprehensively analyze their market shares and core competencies*

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

• Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

• Further breakdown of Rest of Asia Pacific transportation composites market
• Further breakdown of Rest of European transportation composites market
• Further breakdown of Rest of North American transportation composites market
• Further breakdown of Rest of Middle East & Africa transportation composites market
• Further breakdown of Rest of Latin American transportation composites market

Company Information

• Detailed analysis and profiling of additional market players (up to 10)