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| Global market sizing for mining and construction equipment |
Context / Scope of project
Our client, a leading manufacturer of mining and civil construction equipment, had been performing well in Australia and for a number of years was looking to expand into international markets. Although the client had experienced some impressive export sales, these were largely based on relationship opportunities, rather than a concentrated effort on a focused export strategy. The PIP team undertook a rapid, data-driven review of international markets for our client’s products to inform the development of an export strategy and business case.
Client Achieved:
- Developed a global expansion strategy focused on the high growth areas
- Started driving its salesforce efforts with a data-driven approach.
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What we did:
- Used third party market data and analysis reports and extensive client data to estimate the total Australian market for each product category in the client’s three key customer segments
- Analysed historical market size estimates in conjunction with data on the key demand drivers in each of the client’s customer segments to calculate domestic penetration ratios
- Sourced international data on key demand drivers and applied domestic penetration ratios to extrapolate the size of numerous overseas markets
- Used interviews and third party reports to understand international usage variations in each of the client’s product categories to refine market size estimates, by volume and revenue
- Provided client with a detailed approach for leveraging the results of our research to develop a global strategy and execution plan.
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