Market Assessment Study Helps a Leading Manufacturer Devise Effective Market Entry Strategies for CNC Metal Cutting Solutions
Machine tools used for the cutting of metals are indispensable in metalworking. While some machines such as horizontal lathes have existed in one form or another since ancient times, computer-numerical-controlled (CNC) metal cutting machines are more recent. Powered by electric motors, metal cutting machine tools are used for one of many cutting processes including turning, […]
Machine tools used for the cutting of metals are indispensable in metalworking. While some machines such as horizontal lathes have existed in one form or another since ancient times, computer-numerical-controlled (CNC) metal cutting machines are more recent. Powered by electric motors, metal cutting machine tools are used for one of many cutting processes including turning, milling, grinding, boring, and more to achieve the desired cut on the metal workpiece. Globally, the metal cutting machine market is anticipated to witness considerable growth due to rapid industrialization and expansion of manufacturing sectors in developing countries such as India and China.
Metal cutting tools have varied forms, including plasma cutters, fiber cutters, and laser cutting devices. Among the different forms of metal cutting tools, plasma cutting equipment is majorly used for the fabrication and welding of metals as they ensure precise and accurate results compared to other product forms. Moreover, laser-based metal-cutting machines are also gaining immense importance as they offer a high degree of precision compared to conventional plasma cutting equipment and is expected to have a positive impact on the industry. Laser cutting is a technology that uses CO2 lasers and fibers to cut materials. These machines can cut a broad spectrum of materials ranging from steel to plastic with absolute precision. It is an indispensable manufacturing tool vital to several industries including machine tool industry, automotive industry, consumer electronics, and other manufacturing industries for manufacturing components with complex geometry. Over the past decades, the laser cutting industry has undergone significant improvements in quality and thickness of cutting material, power, and efficiency. This has subsequently resulted in the development of laser cutting machines with higher cutting speed and the ability to cut thin and thick metals on the same equipment.
With the strong growth of the automobile manufacturing industry in countries like China, Mexico, and Indonesia, the application of metal cutting machines is also expected to surge. Moreover, the increasing awareness towards the usage of metal cutting equipment with reduced lead time due to the increased importance of preventive maintenance in the manufacturing sector is also expected to increase the R&D expenditure among the key market players. Additionally, with the growing preference for automated metal cutting machines with PLC systems across various industries, the demand for such equipment is anticipated to surge in the near future.
The Business Challenge
To obtain strategic insights and understand the market potential, competitive landscape, and customer characteristics, the client – a leading manufacturer and supplier of machine tools – approached Infiniti to engage in a market assessment study, which would help them understand the future market space specific to the CNC metal cutting solutions market in the target region. The scope of this market assessment engagement was to offer actionable insights to help the client gain a detailed understanding of the size of the market, volume of the machinery imported and exported, and identify the major customer segments in terms of the volume of their business and investment.
The primary objective of this market assessment study was to provide a comprehensive analysis of the competitive landscape by identifying the leading brands in each country under focus. Additionally, the market assessment engagement also helped the client get a better understanding of the distribution organization, volume of business, financial performance, and service pricing levels of the identified brands across the target region.
An exclusive market assessment team with prior experience in handling such project was assigned to this project to track the recent developments and innovations in the market through journals and white papers. Moreover, the industry experts also reached out to key stakeholders, including channel partners, business executives, dealers, traders, and suppliers to understand their views on the market.
Why Infiniti Research is the preferred partner for more than 55 Fortune 500 Companies
Market Assessment Solutions Offered and Impact
A dedicated market assessment team with extensive experience in meeting the various information needs of leading global companies was assigned to this engagement to help clients understand the overall market, competitors’ business structure, and buying behavior of the end users. To address the clients’ business requirements, Infiniti’s research specialists followed a blended approach consisting of primary and secondary research followed by analysis and insight development for the proposed study. This was followed by data validation, cleaning, and structuring to offer valuable insights on the market’s growth prospects in Africa.
The market assessment experts also carried out a secondary research for building initial hypotheses, designing the analytical framework, and identifying market stakeholders for primary research. A scrupulous secondary research was also carried out to obtain, organize, and analyze relevant published information from an extensive array of market research reports, magazines and publications, white papers, annual reports, websites of competitors, company publications, case studies, news aggregators, and industry forums. Moreover, to access relevant information regarding the CNC solutions and metal cutting tools market in Africa, our experts conducted interviews and engaged in discussions with business executives, metal cutting solution experts, product managers, manufacturers, members of trade associations, and stakeholders from the metal cutting market.
By the end of the sixth week, the client – a globally recognized machine tool builder – was able to gain an in-depth understanding of the market across the target region. The client derived numerous benefits in terms of understanding the customer segments, market size, and the competitive landscape of the CNC metal cutting solutions market across Africa.
Benefits of Our Integrated Approach
In a short time frame of six weeks, the client saw clear benefits from this engagement. The client not only gained a holistic overview of the current market size, customer segments, and leading brands in the each country under focus but also got a clear understanding of the market potential of the CNC metal cutting solutions market. Additionally, with a better understanding of the focus segments and scope of R&D in the market, the client benefitted in terms of ROI.
Here are some of the key points appreciated by our clients:
- Dedicated Market Assessment Portal. A centralized platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This market assessment portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Database Access. Access to a patient database containing information about 60+ medical diseases and conditions, such as patients undergoing treatment, untreated patients, and patients with chronic conditions.
- Interactive Dashboard. Using our market assessment portal, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated market assessment team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read market assessment study for strategy experts and decision makers looking to develop effective market entry strategies for CNC metal cutting solutions market.
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