Wind Turbine Manufacturing Industry Overview
According to the recent market research report from Infiniti Research, the global wind turbine manufacturing industry is projected to witness substantial growth through 2022. The factors such as population growth and the associated increase in electricity demand, widespread emphasis on expanded use of renewable energy, and increasing effectiveness and cost- competitiveness of wind energy are driving the wind turbine manufacturing market growth. However, technological innovations are leading to larger, more efficient wind turbines, driving down the cost of wind power while presenting new challenges in the areas of installation, transportation, and operation. To gain a leading edge in such a heavily competitive marketplace, companies in the wind turbine manufacturing market must adopt strategic growth initiatives and focus on capturing larger shares of the existing marketplace.
The client is a wind turbine manufacturing firm based out of Canada. The increasing demand for transportation capacity due to the growth in partial repowering activity and logistics requirements made it difficult for the company’s transportation segment to ship components. Also, these transportation constraints escalated deployment risks for the company, which subsequently increased the likelihood of higher costs, missed deadlines, and lost production. Consequently, the company witnessed a huge loss in its market share. In an attempt to cover up for the losses, the wind turbine manufacturing firm wanted to innovate equipment designs, take initiatives to counteract erosion, and investigate technologies to reduce wind turbine radar interface. They approached the experts at Infiniti Research to leverage their expertise in offering market penetration strategy.
With Infiniti’s market penetration strategy, the wind turbine manufacturing market client also wanted to tackle challenges including:
- Shifting installation schedules to minimize quarterly peaks
- Establishing forward storage sites to pre-position component inventories near the wind farm
- Preparing wind-farm sites to accept early deliveries
- Prioritizing shipments to the most efficient sites and wind farms
Our Integrated Approach and Solution
To help the client address their business challenges, the experts at Infiniti Research initially deﬁned the business problem by creating a framework, complete with key questions and hypotheses specific to the Canadian wind turbine manufacturing market. Also, an extensive database was generated by the team through qualitative and quantitative research. Also, the experts at Infiniti Research conducted 100+ interviews with market access experts, business executives, medical device companies, and financial analysts.
As a part of the market penetration strategy engagement, the experts at Infiniti Research developed a market forecast and opportunity model to recommend critical success factors for business expansion. Opportunity advisory provided by Infiniti was further used by the client to make investment decisions on implementing new technologies and processes. Assessment of the top wind turbine manufacturers’ offerings, new business strategies, and market position was done to help the client identify areas where they performed well or lagged in comparison to their key competitors.
Development of an actionable market penetration strategy with potential areas to be targeted was offered to help the wind turbine manufacturing market client enhance market share.
With Infiniti’s market penetration strategy, the wind turbine manufacturing market client was able to reduce operating costs across manufacturing and quality divisions by adopting innovative technologies and processes. By identifying transportation constraints in advance and forecasting logistics requirements, the wind turbine manufacturing market client was able to efficiently manage the supply and demand requirements. Also, the client was able to reduce the likelihood of higher costs, missed deadlines, and lost production.
The experts also helped the wind turbine manufacturing market client to investigate optimized designs, lighter materials, and more efficient manufacturing processes, which subsequently enhanced the company’s production efficiency. To counteract erosion, the experts recommended the client to invest into new protective coating technologies. This helped the wind turbine manufacturing market client to improve erosion resistance by up to 20 times.
In addition, the wind turbine manufacturing market client was able to efficiently plan inventory and prioritize shipments. The client also prepared their wind-farm sites to accept early deliveries and established forward storage sites to pre-position component inventories. Within one year of leveraging our market penetration strategy engagement, the wind turbine manufacturing market client was able to reduce the demand shortfall by 22% and increase its market share by 35%.