Steel, as an alloy, finds extensive applications across various industries. Owing to properties such as toughness, resistance to wear, durability, and recyclability, steel is widely used in the cutting tools segment. However, with the extensive use of steel across end-user segments, manufacturers are gradually shifting to the use of compounds that promise robust strength and versatility. Carbide owing to its vulnerability to extreme heating conditions is preferred as an alternative to steel across various industrial applications.
Although carbide tools are more expensive than premium steel tools, they prove to be highly durable in the long run. Moreover, carbide is preferred over steel as the compound delivers better surface finish when cutting. While carbide is mainly employed in large-scale industries that focus on quality, steel is the preferred alloy in industries that look for cost-effective and seamless operations. Infiniti’s experienced market intelligence experts provide the client with a holistic overview of the market and competitive landscape of the steel and carbide industry to help make strategic business decisions.
The Business Challenge
An industrial equipment manufacturer based out of Sweden was facing challenges understanding the market landscape for steel and carbide in terms of the competitors, the key customers, and suppliers and distributors. Through this market intelligence study, the client wanted to identify the cost drivers and the risk elements associated with the market for the target regions.
Our Research Methodology
To gain strategic insights into the competitive landscape, our market intelligence experts at Infiniti carried out in-depth interviews and discussions with leading industrial experts such as business executives, analysts, and members of trade association. Our data collection methodology also compiled information from proprietary resources including company publications, case studies, and industry forums.
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Our Solution Helped the Client
- Identify the key suppliers of steel and carbide materials in the target regions
- Assess the market opportunities and increase offerings in the market
- Identify the potential competitors and devise new marketing strategies
- Benchmarking sourcing strategies that help in driving bottom-line savings
- Identify the cost drivers and risk elements for specific regions
Benefits of Our Integrated Approach
After a detailed analysis of the market landscape, the client gained strategic insights on the potential opportunities in the market. Our solutions helped the client understand the market dynamics, assess trade channels, and supplier landscape in the steel and carbide industry. Moreover, an in-depth analysis of the competitors also enabled the clients to make informed decisions.