Feedback’s understanding of the engineering industry & its ecosystem, its evolution over the years, challenges & prospects has been acquired over three decades of experience in this industry and by virtue of having worked on over 350 engagements in diverse segments within Engineering.
The engineering sector (including capital goods) valued at USD 84 billion in 2014 is a major export revenue earner. An impressive 39 per cent of India’s engineering goods and services were exported to the US and Europe and 30 per cent to other Asian countries. This sector is expected to get a further boost with the national initiative “Make in India” campaign, which is focused on making India a global manufacturing hub. The goal of this mega program is to ensure that the manufacturing sector which contributes to about 15 per cent of India’s GDP increases to around 25 per cent in 2022. The major focus of this initiative is heavy industries and public enterprises.
Feedback is geared to address the opportunities in this sector with a dedicated team of professionals who have worked with over 150 clients in this sector, both Indian as well as MNC companies and various industry associations (Indian & International) in their quest to understand various markets, market practices, size & growth, capabilities & strength, barriers & challenges, etc. Specific areas include machinery, industrial consumables and pneumatics & hydraulics.
Feedback typically conducts 30-35 engagements in this sector annually. Our insights help clients take the right business decisions, diversification initiatives and business improvement programs, enabling them to improve market shares in specific customer groups, markets and geographies.
Feedback has considerable experience in machine tools and related segments like metal cutting & metal forming tools & presses and professional tools. Feedback also has significant exposure to Industry bodies such as IMTMA. Industrial machinery like textiles, leather, chemicals, plastics, paper & pulp, environment, cement, etc.
Lately, expectations from engineering companies has increased multi-fold – product quality has become a hygiene factor. Engineering companies are now expected to assist their customers in their quest to transform themselves into best-in-class manufacturing firms. Engineering companies therefore need to develop a good understanding of their customers, markets, operations, challenges, etc. Feedback tracks various end user industry segments like steel, chemical, fertilizer, utilities, cement, plastic, packaging and automotive and is well placed to assist them by providing a 360 degree view of the industry.
Market Sizing (Demand Side & Supply Side)
Identifying partners for component sourcing
Channel & Distribution Assessment
Revisiting Marketing Plans
Usage, Attitude and Purchase Assessment
Concept Reaction & Evaluation
Value Chain Analysis
Channel structure & Dynamics
Feedback recommendations helped a firm interested in introducing fuel efficient cooking equipment in India, develop a robust entry strategy. This entailed studying various factors such as current practices, alternate systems in use, cost benefit analysis, payback, stakeholder analysis, etc. The client is now an established player in this segment.
Feedback partnered with a market leader in CNC machine tools to identify customer segments willing to use technologically advanced tools for better productivity and efficiency. A detailed cost benefit analysis was done to check if willingness would actually translate to orders on the ground. The outcome resulted in the client investing in a business model to supply used machines to SME customers.
Feedback partnered with a client to evaluate opportunity assessment for them to diversify into Industrial Vacuum Loaders. A detailed market study was conducted to understand stakeholders, usage practices and market potential, with a view to providing insights for market entry. Feedback suggested an appropriate product mix and focus segments, in addition to strategies for sustaining growth and overcoming challenges in the industry.
Rapid Loading Systems find applications in heavy industries like Railways, Mines, Power, Metals, Ports, Coal and Iron Ore. Feedback carried out an extensive research mapping each end user segment in detail covering the existing installed base of equipment, usage practices and need gaps across end user segments. A framework was built to map future requirement of customers and proposed investments which will define the demand for rapid loading systems in India. Feedback assisted the client to develop a strategy for the next five years focusing on key customer segments and their outlook towards rapid loading systems.