[342 Pages Report] The surge tanks market is poised to witness a CAGR of 4.2% from 2022 to 2032. Over this projection period, the market share for surge tanks is estimated to reach a net worth of US$ 2.9 Billion by 2032, improving from the current valuation of US$ 1.9 Billion in 2022.
A surge tank is a storage tank or vessel made from stainless steel or epoxy-coated carbon steel material that is used to regulate the flow of liquid in fluctuating pressure situations. Surge tanks are designed to accommodate a wide range of pressure & volume and can easily neutralize the effect to avoid system failures and blowouts. Owing to such advantages, the sales of surge tanks have increased, turning it into a lucrative business around the world.
| Attributes | Details |
|---|---|
| Surge Tanks Market Value in 2022 | US$ 1.9 Billion |
| Surge Tanks Market Value in 2032 | US$ 2.9 Billion |
| Surge Tanks Market CAGR (2022-2032) | 4.2% |
They are also used in oil & gas, chemical and water treatment plants. Within the Chemical Industry, surge tanks are used in two-phase separation operations where longer retention time is required for effective separation. Thus rising investments in water infrastructure development across the globe are also projected to support the surge tanks market growth.
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The key trends affecting the sales of surge tanks in the global market:
Surge tanks mainly find applications in hydropower plants where the pressure of water must be maintained to ensure proper functioning of turbines and to minimise the hammering effect caused due to fluctuations in water flow. The demand for surge tanks is being driven by increasing demand from power & energy applications, especially due to new hydro power plants coming up in developed as well as developing regions.
In Europe, EU-5 countries are expected to hold a significant share of the market over the forecast period. Moreover, recovery of oil & gas industry coupled with increasing infrastructural developments in GCC countries, Brazil and Mexico will help boost the demand for surge tanks over the forecast period.
Apart from this, the high repair and maintenance cost of regular and coated surge tanks will also affect market growth.
As per the surge tanks market analysis report prepared by FMI, with an overall share of 16.5%, the North America region acquires the second position in the top order and is expected to register a healthy CAGR over the forecast period.
North America and Europe are the major markets for surge tanks. In North America, the U.S. is expected to dominate the market owing to increasing investments in water infrastructure and significant growth of the oil & gas industry owing to shale gas exploration. The North America market for surge tanks is expected to continue its significant growth trajectory over the forecast period.
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The global surge tank market in the Asia Pacific region, with a contribution of about 19.8%, is the dominating region.
In APAC, the prompt growth of end-use industries, such as oil & gas, chemicals and power & energy industry - where surge tanks are frequently used - will help drive the market over the forecast period. Moreover, high investments in developing water infrastructure and setting up new hydropower plants in developing countries, such as China and India, in turn, are anticipated to boost the demand for surge tanks over the forecast period.
With the presence of a few giant players in the sales of surge tanks to the highly specialized application industries, the market has been quite consolidated until the present years. However, several private players dealing in other heavy equipment and machinery manufacturing have entered the market identifying the growth potential. Such newcomers are heavily relying on their pre-existing partnerships and market orientation to carve a profitable business out of it.
Recent Developments in the Global Surge Tanks Market
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| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2022 to 2032. |
| Base year for Estimation | 2022 |
| Historical Data Available for | 2016-2021 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis. |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available upon Request |
The surge tanks market is anticipated to register a CAGR of 4.2% through 2032.
The surge tanks market is estimated around US$ 1.9 Billion in 2022.
The surge tanks market is poised to be valued at US$ 2.9 Billion by 2032.
The Asia Pacific region captures a share of 19.8% of the surge tanks market.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Surge Tanks Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Capacity
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Capacity, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Capacity, 2022-2032
5.3.1. Below 1000 Gallon
5.3.2. 1000-8000 Gallon
5.3.3. Above 8000 Gallon
5.4. Y-o-Y Growth Trend Analysis By Capacity, 2017-2021
5.5. Absolute $ Opportunity Analysis By Capacity, 2022-2032
6. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Construction Material
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Construction Material, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Construction Material, 2022-2032
6.3.1. Stainless Steel
6.3.2. Coated Carbon Steel
6.3.3. Others
6.4. Y-o-Y Growth Trend Analysis By Construction Material, 2017-2021
6.5. Absolute $ Opportunity Analysis By Construction Material, 2022-2032
7. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Pressure Capacity
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Pressure Capacity, 2017-2021
7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Pressure Capacity, 2022-2032
7.3.1. Below 350 psi
7.3.2. 350 – 500 psi
7.3.3. Above 500 psi
7.4. Y-o-Y Growth Trend Analysis By Pressure Capacity, 2017-2021
7.5. Absolute $ Opportunity Analysis By Pressure Capacity, 2022-2032
8. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Type
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Type, 2017-2021
8.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Type, 2022-2032
8.3.1. Simple Surge Tanks
8.3.2. Gallery Type Surge Tanks
8.3.3. Inclined Surge Tanks
8.4. Y-o-Y Growth Trend Analysis By Type, 2017-2021
8.5. Absolute $ Opportunity Analysis By Type, 2022-2032
9. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Application
9.1. Introduction / Key Findings
9.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application, 2017-2021
9.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application, 2022-2032
9.3.1. Hydropower Electricity
9.3.2. Industrial Use
9.3.3. Water Transportation & Distribution Network
9.3.4. Oil & Gas
9.3.5. Others
9.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021
9.5. Absolute $ Opportunity Analysis By Application, 2022-2032
10. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Region
10.1. Introduction
10.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021
10.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. Asia Pacific
10.3.5. MEA
10.4. Market Attractiveness Analysis By Region
11. North America Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. U.S.
11.2.1.2. Canada
11.2.2. By Capacity
11.2.3. By Construction Material
11.2.4. By Pressure Capacity
11.2.5. By Type
11.2.6. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Capacity
11.3.3. By Construction Material
11.3.4. By Pressure Capacity
11.3.5. By Type
11.3.6. By Application
11.4. Key Takeaways
12. Latin America Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. Brazil
12.2.1.2. Mexico
12.2.1.3. Rest of Latin America
12.2.2. By Capacity
12.2.3. By Construction Material
12.2.4. By Pressure Capacity
12.2.5. By Type
12.2.6. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Capacity
12.3.3. By Construction Material
12.3.4. By Pressure Capacity
12.3.5. By Type
12.3.6. By Application
12.4. Key Takeaways
13. Europe Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. Germany
13.2.1.2. U.K.
13.2.1.3. France
13.2.1.4. Spain
13.2.1.5. Italy
13.2.1.6. Rest of Europe
13.2.2. By Capacity
13.2.3. By Construction Material
13.2.4. By Pressure Capacity
13.2.5. By Type
13.2.6. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Capacity
13.3.3. By Construction Material
13.3.4. By Pressure Capacity
13.3.5. By Type
13.3.6. By Application
13.4. Key Takeaways
14. Asia Pacific Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.1.4. Malaysia
14.2.1.5. Singapore
14.2.1.6. Australia
14.2.1.7. New Zealand
14.2.1.8. Rest of APAC
14.2.2. By Capacity
14.2.3. By Construction Material
14.2.4. By Pressure Capacity
14.2.5. By Type
14.2.6. By Application
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Capacity
14.3.3. By Construction Material
14.3.4. By Pressure Capacity
14.3.5. By Type
14.3.6. By Application
14.4. Key Takeaways
15. MEA Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country
15.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
15.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Capacity
15.2.3. By Construction Material
15.2.4. By Pressure Capacity
15.2.5. By Type
15.2.6. By Application
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Capacity
15.3.3. By Construction Material
15.3.4. By Pressure Capacity
15.3.5. By Type
15.3.6. By Application
15.4. Key Takeaways
16. Key Countries Surge Tanks Market Analysis
16.1. U.S.
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2021
16.1.2.1. By Capacity
16.1.2.2. By Construction Material
16.1.2.3. By Pressure Capacity
16.1.2.4. By Type
16.1.2.5. By Application
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2021
16.2.2.1. By Capacity
16.2.2.2. By Construction Material
16.2.2.3. By Pressure Capacity
16.2.2.4. By Type
16.2.2.5. By Application
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2021
16.3.2.1. By Capacity
16.3.2.2. By Construction Material
16.3.2.3. By Pressure Capacity
16.3.2.4. By Type
16.3.2.5. By Application
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2021
16.4.2.1. By Capacity
16.4.2.2. By Construction Material
16.4.2.3. By Pressure Capacity
16.4.2.4. By Type
16.4.2.5. By Application
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2021
16.5.2.1. By Capacity
16.5.2.2. By Construction Material
16.5.2.3. By Pressure Capacity
16.5.2.4. By Type
16.5.2.5. By Application
16.6. U.K.
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2021
16.6.2.1. By Capacity
16.6.2.2. By Construction Material
16.6.2.3. By Pressure Capacity
16.6.2.4. By Type
16.6.2.5. By Application
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2021
16.7.2.1. By Capacity
16.7.2.2. By Construction Material
16.7.2.3. By Pressure Capacity
16.7.2.4. By Type
16.7.2.5. By Application
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2021
16.8.2.1. By Capacity
16.8.2.2. By Construction Material
16.8.2.3. By Pressure Capacity
16.8.2.4. By Type
16.8.2.5. By Application
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2021
16.9.2.1. By Capacity
16.9.2.2. By Construction Material
16.9.2.3. By Pressure Capacity
16.9.2.4. By Type
16.9.2.5. By Application
16.10. China
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2021
16.10.2.1. By Capacity
16.10.2.2. By Construction Material
16.10.2.3. By Pressure Capacity
16.10.2.4. By Type
16.10.2.5. By Application
16.11. Japan
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2021
16.11.2.1. By Capacity
16.11.2.2. By Construction Material
16.11.2.3. By Pressure Capacity
16.11.2.4. By Type
16.11.2.5. By Application
16.12. South Korea
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2021
16.12.2.1. By Capacity
16.12.2.2. By Construction Material
16.12.2.3. By Pressure Capacity
16.12.2.4. By Type
16.12.2.5. By Application
16.13. Malaysia
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2021
16.13.2.1. By Capacity
16.13.2.2. By Construction Material
16.13.2.3. By Pressure Capacity
16.13.2.4. By Type
16.13.2.5. By Application
16.14. Singapore
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2021
16.14.2.1. By Capacity
16.14.2.2. By Construction Material
16.14.2.3. By Pressure Capacity
16.14.2.4. By Type
16.14.2.5. By Application
16.15. Australia
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2021
16.15.2.1. By Capacity
16.15.2.2. By Construction Material
16.15.2.3. By Pressure Capacity
16.15.2.4. By Type
16.15.2.5. By Application
16.16. New Zealand
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2021
16.16.2.1. By Capacity
16.16.2.2. By Construction Material
16.16.2.3. By Pressure Capacity
16.16.2.4. By Type
16.16.2.5. By Application
16.17. GCC Countries
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2021
16.17.2.1. By Capacity
16.17.2.2. By Construction Material
16.17.2.3. By Pressure Capacity
16.17.2.4. By Type
16.17.2.5. By Application
16.18. South Africa
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2021
16.18.2.1. By Capacity
16.18.2.2. By Construction Material
16.18.2.3. By Pressure Capacity
16.18.2.4. By Type
16.18.2.5. By Application
16.19. Israel
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2021
16.19.2.1. By Capacity
16.19.2.2. By Construction Material
16.19.2.3. By Pressure Capacity
16.19.2.4. By Type
16.19.2.5. By Application
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Capacity
17.3.3. By Construction Material
17.3.4. By Pressure Capacity
17.3.5. By Type
17.3.6. By Application
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. NM Group Global LLC (NMGG)
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.1.5.2. Product Strategy
18.1.1.5.3. Channel Strategy
18.1.2. TransTech Fabrication, LLC
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.2.5.2. Product Strategy
18.1.2.5.3. Channel Strategy
18.1.3. Alpha Tanks Limited
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.3.5.2. Product Strategy
18.1.3.5.3. Channel Strategy
18.1.4. FAB-TECH Works & Constructions Pvt. Ltd.
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.4.5.2. Product Strategy
18.1.4.5.3. Channel Strategy
18.1.5. Squibb Tank Company, Inc
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.5.5.2. Product Strategy
18.1.5.5.3. Channel Strategy
18.1.6. Wheeler Tank Manufacturing, Inc.
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.6.5.2. Product Strategy
18.1.6.5.3. Channel Strategy
18.1.7. RothLochston
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.7.5.2. Product Strategy
18.1.7.5.3. Channel Strategy
18.1.8. Wiltsie Construction Co., Inc.
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.8.5.2. Product Strategy
18.1.8.5.3. Channel Strategy
18.1.9. Young Engineering & Manufacturing Inc.
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.9.5.2. Product Strategy
18.1.9.5.3. Channel Strategy
18.1.10. Steelways, Inc.
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.10.5.2. Product Strategy
18.1.10.5.3. Channel Strategy
18.1.11. Oilwell ME
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.11.5.2. Product Strategy
18.1.11.5.3. Channel Strategy
18.1.12. AA Tanks Co
18.1.12.1. Overview
18.1.12.2. Product Portfolio
18.1.12.3. Profitability by Market Segments
18.1.12.4. Sales Footprint
18.1.12.5. Strategy Overview
18.1.12.5.1. Marketing Strategy
18.1.12.5.2. Product Strategy
18.1.12.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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