Construction Equipment Market
Increasing globalization, skilled labor shortages, and rising need to embrace new technologies are increasing challenges for companies operating in the construction equipment market. Also, the entry of new players in the market are necessitating construction equipment manufacturers to spend more on R&D into finding new ways to improve productivity. In this context, construction equipment companies can no longer afford to ignore the challenges coming their way. Companies in the construction equipment market must find new ways to overcome roadblocks proactively and adapt to the fast-changing marketplace.
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Business Challenge
The client is a construction equipment supplier and manufacturer based out of Central Europe.
Our client, a construction equipment company, faced challenges in supply chain management due to their lack of insights into the inventory operations. Also, labor shortage challenges caused deliverable delays and increased quality issues for the company. In addition, shrinking profit margins and rising need to embrace new technologies were increasing difficulties for the company. Owing to such challenges, the client was losing market share to their competitors. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering competitive intelligence solution.
The key challenges the client wanted to tackle by leveraging Infiniti’s competitive intelligence solution were:
Construction equipment market challenge #1: Rising need to embrace new technologies and processes
As major companies in the equipment market have already started embracing new technologies and processes for higher productivity and profitability, the client wanted to analyze the technologies leveraged by the top companies in the European construction equipment market to enhance operational efficiency.
Construction equipment market challenge #2: Skilled labor shortages
Skilled labor shortage was another major challenge faced by the company. Due to this, the client even faced difficulties in delivering products on time. However, the client noted that some of their competitors were investing into automation and digital technologies to cover up labor shortage challenges. Therefore, with Infiniti’s competitive intelligence solution, they wanted to understand the strategies undertaken by their competitors to tackle this challenge.
Construction equipment market challenge #3: Balancing maintenance with throughput
As keeping equipment functioning was an essential part of running a manufacturing facility, regular preventive maintenance was becoming imperative for companies in the construction market. However, the client had to spend a huge budget on equipment maintenance. The client, therefore, wanted to identify strategies undertaken by their competitors to balance maintenance with throughput.
Want to gather comprehensive insights into trends, opportunities, and challenges in the construction market? Our experts can help. Contact us today!
Solutions Offered
To help the client, our experts conducted market scanning and monitoring. In this engagement, the experts thoroughly analyzed the European construction market landscape. Our experts helped the client to keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, and identify regional market developments in the European construction equipment market.
The next phase involved demand planning and forecasting analysis. In this phase, our experts analyzed the potential market demand for construction equipment in Europe for the next five years. Also, our experts helped the client to deal with issues pertaining to analyzing and estimating product demands.
The last phase involved a competitor analysis study, where the helped the client to analyze how they measured up against the top ten companies in the European construction equipment market. Also, the experts helped the client to understand areas where they struggled and performed well. In addition, the experts helped the client to understand strategies and business models of their key competitors.
Results Obtained
The insights obtained from Infiniti’s competitive intelligence solution helped the client to identify technologies leveraged by the top construction equipment manufacturers in Europe to enhance operational efficiency. Also, they were able to efficiently invest into automation and digital technologies to reduce workforce-related challenges. In addition, by conducting regular equipment maintenance, they were able to enhance efficiency.
The client was also able to efficiently manage supply chain operations and reduce delivery delays. Moreover, they were able to reduce operational cost by 13% and enhance profit margins by 33%.
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