Examining European Steel Industry’s Competitive Landscape and Market Challenges with Competitive Intelligence Engagement
European Steel Industry Outlook Volatile demand patterns, slowing demand in downstream sectors, depletion of high-grade raw materials, and environmental challenges have increasingly transformed the European steel industry in recent years. In addition, European steel market prices have suffered downward pressure over the years. The rapid pace of transformation has put pressure on steel manufacturers in [...]
European Steel Industry Outlook
Volatile demand patterns, slowing demand in downstream sectors, depletion of high-grade raw materials, and environmental challenges have increasingly transformed the European steel industry in recent years. In addition, European steel market prices have suffered downward pressure over the years. The rapid pace of transformation has put pressure on steel manufacturers in Europe to address challenges coming their way and streamline operations and processes.
The client is a steel manufacturer and supplier based out of Europe.
Our client, a steel manufacturer based out of Europe, wanted to conduct a competitive intelligence study to understand how their brand measured up against the top steel companies in Europe. They also wanted to gauge their competitors’ strategies and stay ahead of all market developments in the European steel industry. Furthermore, by conducting a competitive benchmarking study, the client wanted to compare their performance with key competitors and understand areas of improvement. The client also wanted to understand strategies undertaken by their competitors to address the rising industry challenges.
Other challenges faced by the company were:
European steel industry challenge #1: Depletion of high-grade raw materials
The sudden rise in the demand for steel in Europe compelled European steel companies to use low-grade raw materials. However, the usage of low-grade raw materials turned out to be harmful to the environment. The client, therefore, wanted to understand how their competitors tackled this challenge.
European steel industry challenge #2: Solid waste management
During the steel manufacturing process, a large amount of solid waste is being generated. However, the client lacked the right process for solid waste management. Therefore, they wanted to analyze strategies employed by the top companies in the European steel industry to manage solid waste and reduce environmental hurdles.
European steel industry challenge #3: Rising investment into R&D
With leading companies in the European steel industry heavily investing into R&D for differentiating their products from other players in the market, the client wanted to keep pace with all the market trends and regional developments.
To help the client tackle the rising market challenges, our experts conducted a comprehensive market intelligence study. The study involved a thorough analysis of the European steel industry, review of macro and micro economic environment, and an analysis of regional market development.
Our experts also conducted a demand management study, where they analyzed the demand pattern in the European steel industry and also analyzed factors that impacted demand for steel in the market.
By conducting a risk management study, our experts analyzed the risks in the European steel industry and monitored risk mitigation strategies undertaken by the top steel manufacturing companies.
Furthermore, by conducting a competitor analysis engagement, our experts helped the client to understand their key competitors’ strategies in terms of waste management and manufacturing processes.
By leveraging Infiniti’s competitive intelligence solution, our experts helped the client to analyze their performance compared to their top competitors. Also, they were able to understand their strengths and weaknesses compared to the top companies in the European steel industry.
Furthermore, the client was able to understand their competitors’ investment into R&D and new technologies. By gathering comprehensive insights into the market and their competitors’ strategies, they were able to revamp their processes and efficiently tackle the industry challenges.
In addition, by efficiently managing the supply and demand and delivering high-quality steel products, they were able to enhance their sales rate. Within one year, the company was able to witness an increase in their market share by 21%.