Hydraulic Hose and Fittings Market
The rising demand for better infrastructure facilities and surge in demand for construction equipment are driving the growth of the hydraulic hose and fittings market. Also, the growth of the mining industry is propelling the demand for hydraulic hose and fittings. However, modern mining firms present huge challenges for companies in the hydraulic hose and fittings market as they fail to provide products that meet or exceed equipment’s requirements. Consequently, keeping pace with market challenges and adapting to the fast-changing marketplace is becoming vital to succeed in the long-run. As such, companies are partnering with market intelligence solutions providers like Infiniti Research to leverage their expertise in offering custom market intelligence solution.
To help you gather comprehensive insights into a new or existing market, our experts provide custom market intelligence solutions tailored to your needs. Request a FREE proposal today!
Business Challenge
The client is a hydraulic hose and fittings manufacturer based out of Canada.
Our client, a hose and fitting company, faced challenges due to the rising demand from mining companies for new equipment design with larger inside diameters and compounds to handle multiple fluids. Also, the new equipment design necessitated the client to recruit skilled labor and invest more into R&D. However, before investing a huge sum into this project, the client wanted to understand the rising needs and requirements of the Canadian mining sector and design products accordingly. In addition, the client wanted to understand the potential for their products for the next five years and gather comprehensive insights into their competitors’ strategies and business models.
Furthermore, as surface mining equipment required larger hose and fittings coverage than in underground mines, the client wanted to thoroughly understand the needs and requirements of surface and underground mining equipment manufacturers to design hose and fittings as per the requirement.
Want to know the potential for your products or services in a new or existing market. Our market intelligence experts can help. Contact us today!
Solutions Offered
Initially, our experts conducted the hose and fittings market research study. In this phase of the engagement, factors such as mine safety and health association (MSHA) policies and regulations in Canada were analyzed. As MSHA approved hose and fittings were used in the Canadian mining sector, the client was able to design products accordingly and get approval faster.
By conducting market scanning and monitoring analysis, the client individually analyzed the requirements of surface and underground mining firms in terms of hose and fittings. This phase of the engagement helped the client to understand the requirements of different mining categories and design equipment according to the market demand.
Also, our experts conducted a market potential study, where they analyzed the demand for hose and fittings in Canada for the next five years by analyzing market drivers and average sales potential.
As a part of the market intelligence study, our experts also conducted a competitive intelligence study of the hose and fittings market in Canada. This phase of the engagement helped the client to understand the competitive landscape and identify areas where they lacked in comparison to the top hose and fittings companies in Canada.
Results Obtained
With our market intelligence solution, the client was able to gather detailed insights into the Canadian hose and fittings market and analyze its competitive landscape. Also, by thoroughly understanding the needs and requirements of mining companies, the client was able to design hose and fittings that could withstand higher pressure and has larger inside diameters and compounds to handle multiple fluids.
In addition, the client was able to identify lucrative opportunities to capitalize on to drive sales. Also, by investing more into R&D, they were able to design products meeting modern mining firms. Within two years of leveraging our market intelligence solution, the client was able to enhance sales growth by 27%.
Want to know more about our services for companies in the hose and fittings industry? Request for more info!
