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Construction Industry

Actions to Fast Track Economic Revival of the Construction Industry

Industrial equipment manufacturing, construction and building materials, and engineering companies play a crucial role in post-pandemic economic recovery. However, like the other industries, the construction industry has also been impacted by the pandemic leading to closures of construction sites across the globe. The impact is also evident in the declining financial indexes of engineering, construction, and building materials (ECB) companies.

In such a scenario, planning for economic recovery post the crisis is crucial. As such, construction and building materials companies must strategize and plan their moves to emerge stronger in the new normal. However, a fast return to normalcy seems unlikely for the construction industry, prompting business leaders to act now and define what the construction industry will look like after the crisis. Experts at Infiniti Research have put together five action points to help players in the construction industry predict changes and adapt to the post-crisis world.

construction industry

Beyond the short-term impact, the crisis is expected to hit long-term supply and demand in the construction industry, resulting in permanent shifts in consumer needs and investment patterns. Contact our research experts to find out how these shifts can impact your business.

Thriving in the Construction Industry: Five actions businesses need to take now

Leading construction companies are redefining their strategies and operating procedures to tackle the current situation and improve their odds of future success. In most cases, the aim of these companies revolves around launching new initiatives to drive innovation and positive change on the heels of the pandemic.

Track customer needs and demand shifts closely

With customer demands and preferences undergoing a massive change, it is evident that major shifts will emerge post the crisis, most of which are likely to become engrained and normalized in customer preferences permanently. Therefore, businesses operating in the construction industry must quickly track customer needs and fill demand gaps to gain an edge in the post-pandemic world.

Accelerate organization-wide digital transformation

With very little time at hand, businesses cannot rely on experimentation to develop a perfect action plan for the crisis. Instead, they must draw inputs from well-proven remote use cases. For example, businesses can adopt digital business models, scale up remote collaboration across all production stages, and urge minimal manning at site offices. Industrial equipment and building materials manufacturers can also ensure business continuity by capitalizing on e-commerce channels and digitally-enabled remote sales.

Our multi-disciplinary research teams work with businesses on a variety of market research projects, including pilot studies. Request a free proposal if you’ve got a question regarding an upcoming project or if you need information on any of our services.

Augment supply-chain resilience 

In the post-pandemic phase, businesses must look at options for fortification of the supply chain. It may include building inventories, finding alternate distribution channels, and employing a direct workforce to replace contractual roles. These strategies can lead to more significant consolidation and vertical integration of the value chain while minimizing risks and driving productivity within the construction industry.

Identify and respond to resource allocation needs

In today’s highly dynamic business world, resource allocation poses a significant challenge for global construction and building materials manufacturers. Addressing this issue will require businesses to keep a close watch on shifts in the construction industry and make trade-offs between assets and projects. To overcome this challenge, businesses must deploy a centralized monitoring system to identify and respond to resource-allocation needs, gain real-time visibility into project processes, inventory, and costs.

Reexamining your business strategies and priorities is crucial to thrive in the post-pandemic world. Request a free brochure to find out how our expertise in custom market research can help you drive outcomes and regain lost profits.

Redefine priorities and capital allocation

Strategizing business priorities will play a crucial role in reshaping businesses and creating new revenue streams after the crisis. In many cases, responding quickly to disruptions and shifts in the market could present new opportunities to make lucrative moves. And while these aspects will differ across the value chain, redefining business priorities will enable construction and building companies to deploy capital, resources, and capabilities in the most cost-effective manner.

Resilient, productive construction industry is vital for immediate crisis response and overall economic recovery. Given the rapid shifts and changes in customer preferences, it is evident that the construction industry will witness permanent changes in business operations post the crisis. Hence, now is the time for construction and building companies to prepare themselves for success in a more complex and resilient industry.

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Top Trends in the Construction Equipment Market

The recent increase in the number of construction activities around the globe leads to the path towards development. Development is a never-ending process, which is why there is always some form of construction going on somewhere. This, in turn, increases the demand for construction equipment, not only in terms of volume but also to innovate and evolve. Manufacturers are constantly innovating and bringing innovations to markets of all sizes and types. Additionally, mobility solutions have also been keeping pace as construction equipment continues to evolve.Request Free Proposal

The complexity of user demands

The construction industry is getting more and more efficient with new technologies. Today, it comes as no surprise that companies are able to build skyscrapers in a matter of few months. However, to build such marvels, complicated construction equipment are required. Users are demanding more efficiency, versatility, and durability from construction equipment. For instance, tires and tracks comprise the most expensive consumable items in a construction equipment. Contractors use such machines on a wider range of work and are under the pressure to deliver timely performance without compromising on durability. Additionally, they also want to get the highest amount of work done from machines with little capital and maintenance cost. Manufacturers are also leveraging the use of tire tracking software to help increase the awareness of the current situation and help predict future issues to minimize hourly costs.

Tracked construction equipment

To boost the performance of heavy machinery construction equipment, users are increasingly adopting tracks over tires. It is also evident in numerous industry reports which outline the growth of compact track loaders in comparison to traditional skid steers. The trend is evident in the rental, construction, and agricultural sectors. Tracks provide wider footprint better pulling power, more torque, and enhance the maneuverability and stability of the equipment. Such trends are even more prominent in places where seasons change drastically. Such tracked construction equipment usually costs less than tires and offers undeniable advantages. Additionally, manufacturers have come up with over-the-tire track (OTT) solution, which can convert a skid steer loader into a compact track loader within minutes.

Rising popularity of rentals

Let’s face it, all companies are on the lookout to cut their cost base. Sometimes it makes sense to rent the construction equipment than to make a purchase. For one, they avoid all the maintenance and depreciation costs. Also, they can make sure they make optimal use of the equipment. Buying and maintaining a large fleet of equipment carries a substantial financial burden and risk for the company. Renting out an equipment can provide companies with the flexibility to use it when needed without having to bear a huge capital expenditure.

Use of radial tires

Using construction equipment such as wheel loaders, backhoe, and motor graders to move between the local job sites is not uncommon in North America and Europe. It offers contractors productivity advantages as floating the equipment from site to site is often cumbersome. As a result, radial tires are gaining popularity as it offers better ride quality, decreased heat build-up, and reduced tread wear on hard surfaces.

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Industry Benchmarking Assists a Renowned Material Handling Equipment Manufacturer Devise Effective Marketing Campaigns

Currently, with the manufacturing industry depending on effective logistic operations, organizations in the manufacturing sector have started relying on material handling products to deliver smooth warehouse and logistics experience. Also, with the advent of automation in the manufacturing space, key players in the manufacturing sector are advocating the need for better material handling equipment to effectively manage their inventory levels. Furthermore, manually operating processes can help manufacturing industries to consolidate and deliver products in an agile and seamless manner; thereby, improving the customer experience. Also, with the availability of attractive opportunities in the manufacturing space, major companies are looking for promising solutions such as industry benchmarks to improve performance and retain their respective position in the market.IR_Brochure

Infiniti’s industry benchmarks offer reliable, responsible, and efficient solutions to the companies in the manufacturing space, which help them lower labor costs and improve the product quality. The solution offered by Infiniti can further help the client gain marginal profits and increase their overall sales performance. Also, with the help of industry benchmarks, manufacturers can devise best practices to improve performance in different departments.

The Business Challenge

In today’s competitive environment, it becomes crucial for stakeholders to know the major differentiators in the material handling equipment space. A renowned material handling equipment manufacturer with a considerable number of manufacturing units spread across the globe was facing predicaments improving their current business process and adopting innovative ideas from players to create better business models. Furthermore, the client wanted to devise effective marketing campaigns to investigate the benefits of a product and improve its operational efficiency. Also, the client wanted to leverage the use of promising solutions, such as industry benchmarks, to make improvements into various areas of the company.

IR- material handling

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Our Approach

To identify the competitors and improve their training methods, the client approached Infiniti’s industry benchmark experts. With expertise in offering services for numerous clients from the manufacturing space, Infiniti’s experts carried out an extensive research comprising interviews and discussions with leading stakeholders in the material handling equipment space. Furthermore, to understand new distribution channels, the analysts also collated necessary information from various proprietary sources such as paid industry databases, company presentations, and industry forums in the material handling equipment space.

Industry Benchmarks Solution Benefits:

  • Obtained information on the relevant technologies in the market; thereby, lowering the labor costs
  • Improved the product quality and determined the competitor’s products list
  • Improved the operations and services and further boosted the sales and profits
  • Emulated the best practices to improve the performance of the internal departments
  • Effectively pinpoint their shortcomings and identified the problem areas
  • Compared competitive performance and facilitated robust comparison

Benefits of Our Integrated Approach

With the help Infiniti’s industry benchmarks, the client was able to improve their overall performance in terms of sales and product lines. The engagement helped the client comparatively curtail the production costs, the marketing expenditures, and the expense related to R&D. Moreover, through this effective engagement, the client was able to measure and manage performance for the betterment of their customer experiences.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the material handling equipment space.

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Market Intelligence Study Helps a Power Management Client Identify Key Competitors

Over the years, fleet management has witnessed unprecedented changes due to the increased demand from the logistics and transportation sector. From not only being merely confined to transportation, fleet management involves managing all aspects of a vehicle such as positioning and material monitoring, production monitoring, and equipment assignment and optimization. Owing to its extensive reach, fleet management finds extensive application across industries such as oil and gas, mining, construction, logistics, retail, utilities,capture public transport, government, and waste management. Rise in fuel costs, increase in pollution levels, connectivity costs, and the demand for operational efficiency are some of the factors sustaining the adoption of fleet management solutions. Although the market is witnessing exponential growth, it is subjected to several challenges, greater compliance standards, lesser flexibility, and limited transparency. With years of expertise in carrying out various market intelligence studies, Infiniti’s industry experts offer strategic insights into the market space for fleet management in terms of the market scenario, competitors, and penetration levels among the target regions.

The Business Challenge

A multinational power management company was facing challenges understanding the market landscape in terms of the fleet usage, repair and replacement, and purchase patterns of automotive fleet leasing and management across the target regions (South Africa, Russia, Poland, Turkey, Saudi Arabia, the UK, Italy, and Spain). The client wanted to gain actionable insights into the fleet management market space with emphasis on medium and heavy-duty trucks and buses.

Our Research Methodology

To gain strategic fleet management insights, Infiniti’s market intelligence experts carried out a blended approach comprising email/phone based invites, reminders, and conducting telephone surveys, followed by data analysis and insight development. The market experts further carried out in-depth secondary research to identify and develop the database of up to 500 target respondents for conducting primary research.a2

As a research provider of choice to more than 55 Fortune 500 clients and other leading firms in the world, we at Infiniti have successfully executed a number of customer, market, and competitive assessment studies within the logistics, transportation, and allied industries for our global clients and believe that we are uniquely positioned to understand and address the current research requirement of the client.

Our Solution Helped the Client

  • Design analysis framework using multiple data analysis tools and software packages
  • Understand the purchase patterns of automotive fleet leasing and management
  • Analyze the penetration levels of fleet management among the target regions
  • Assess the market for automotive fleets in terms of medium and heavy-duty trucks and buses

Benefits of Our Integrated Approach

In just eight weeks, Infiniti’s market intelligence experts were able to gauge information on the fleet management market in terms of the competitors, potential drivers, and planned positioning. The engagement assisted the client in identifying fleet usage by different companies and the purchase patterns of fleet leasing. With our help, the client was able to analyze the aftermarket of fleet management.

A must-read market assessment case study for strategy experts and decision makers looking to understand the market landscape for fleet mangement.


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autonomous vehicles market

Market Intelligence Study on the Convenience Hardware Market

For any organization to prosper and enter new markets, collecting and analyzing information about the competitor’s strengths and weaknesses is of prime importance. A competitive intelligence study offers a comprehensive outline of the competitive environment in which a business operates, as well as detailed competitor profiles, expansion records and plans, investment plans, and company characteristics. Infiniti’s competitive intelligence helps businesses overcome industry challenges quickly and effectively to gain an edge in a global marketplace. Our analysts have extensive experience in global markets across diverse sectors, including healthcare and pharmaceuticals to chemicals, hardware and manufacturing and the construction industry.

Over the past decade, convenience hardware market has witnessed ups and down, owing to fluctuations in economic variables such as household income, consumer sentiment, and trends in home renovation. Strong economic growth, rapid urbanization, increasing disposable income, and rising standard of living are some of the primary factors fueling the growth of this market. Although the market for convenience hardware has shown a surge, it is subjected to several changes owing to growing environmental concerns and resulting changes in production techniques.

The Business Challenge

A hardware manufacturing company based out of the US was facing challenges analyzing the overall market landscape of the convenience hardware market in North America. The client was looking at expanding its market presence and so wanted a detailed analysis of the competitors and the various distribution channels in the market.

Our Research Methodology

To offer strategic insights into the market, our market intelligence experts carried out extensive primary research comprising of interviews and discussions with relevant business and industry experts, channel partners, analysts, consultants, manufacturers, and distributors. As a part of the secondary research, our experts collated information from proprietary databases such as company publications, relevant websites, and industry forums.

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Our Solution Helped the Client

  • Assess the competitive landscape of the market
  • Identify broad channels of distribution
  • Identify the existing competitors in the market and their market potential
  • Assess the penetration level of the convenience hardware market in the target regions

Benefits of Our Integrated Approach

In a short span of five weeks, the client gained a detailed understanding into the competitive landscape including the key competitors and their current market shares of the convenience hardware market in North America. Based on our actionable insights, the client was able to classify the brands based on priorities of the users in the market and devise effective growth strategies.

A must-read competitive intelligence case study for strategy experts and decision makers looking to understand the competitive landscape of the convenience hardware market.


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Market Intelligence Study Helps a Leading Manufacturing Company Assess the Market Landscape

During 2016, the combined market size for bearings in construction and food & beverage was growing at an average CAGR of 9.1% in terms of revenue and 6.8% in terms of volume.

Bearings finds its usage in countless points of applications to reduce the friction between an object and the surface over which it is moved. With rapidly changing technology, bearings have witnessed advancements primarily in terms of the material of construction and angular arrangements of the rolling elements to maximize load bearing capacity and minimize the loss of energy to overcome friction. Owing to increasing need to minimize energy loss, the construction and food and beverages segments are leveraging the use of bearings.

In terms of the global market size, the construction industry was the dominating end-user segment in the bearings market with a CAGR of nearly 7% in terms of volume and it was followed by the food and beverages segment with a CAGR of over 6%. By application, earth moving equipment under construction vehicle and beverage bottling under food and beverage processing contributes to the highest share of bearing market. Bearings are also widely used across major sectors such as automobiles, railways, electric motors, diesel engines, pumps, machine tools, and textile machinery.

Over the years, the bearings market has witnessed significant growth owing to factors such as the growth of replacement market, robust technological advances, and rapid industrialization. The rising demand for bearing in emerging economies such as China and India is also likely to drive this market’s growth. However, factors such as the increasing number of counterfeit products, high-cost, price sensitive customers, and stringent regulation imposed by FDA and USDA are hindering the growth of the market. With a detailed understanding on the bearings market, market intelligence experts at Infiniti provided a comprehensive understanding of the market in terms of the market landscape, growth drivers, challenges, competition, and distribution channels.

The Business Challenge

A manufacturing company based out of the US wanted an understanding on the global bearings market in terms of the market landscape, key competitors, market positioning, and the distribution channel. The client was facing critical challenges understanding the growth prospects of the bearing market in the construction and food and beverage sectors. Moreover, to derive better insights into the competitive landscape, the client wanted to analyze the market size based on the geographical regions.

Our Research Methodology

To assess the market landscape for bearings, our team of experienced market intelligence experts carried out exhaustive primary research comprising of interviews and discussions with leading stakeholders, such as business executives, manufacturers, buyers, purchasers, consultants, analysts, researchers, and members of trade associations. Also, to gain in-depth understanding of the market, our market research experts referred to proprietary databases such as company publications, case studies, journals/magazines, news aggregators, and industry forums.

Want to learn more about Infiniti’s research methodology?


Our Solutions Helped the Client:

  • Gain a comprehensive overview of the competitive landscape, market size, and distribution channel
  • Effectively strategize the market segmentation across regions
  • Mapping high probability/high impact future market trends

Benefits of Our Integrated Approach

After a comprehensive benchmarking exercise, our client gained better understanding on the market landscape. Also, the client was able to identify the competitive threats and understand the growth potential of bearing market across various industrial segments such as construction and food and beverages. The market intelligence study helped the client position strategies on how to differentiate their products against competitors.

A must-read case study for strategy experts and decision makers looking for effective solutions in the manufacturing sector


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