Market Due Diligence | Opportunity Assessment | Competitive Intelligence

Business Need

  • A leading manufacturer offering Mobile Elevating Work Platforms (MEWPs) sought to diversify its product range.
  • The company aimed to penetrate a new segment within the MEWP market, specifically the ‘Isolated Lightweight MEWPs’.
  • To evaluate the market viability of this expansion, the company engaged RocSearch for a comprehensive market potential assessment and whitespace identification.

To assess the market potential and whitespaces for diversifying into isolated lightweight and insulated MEWPs.

The client outlined two key reasons for selecting RocSearch:

  • The client was introduced to RocSearch by a long-standing private equity client who valued our strategic and investment advisory expertise. This existing relationship instilled confidence in our capabilities.
  • Our extensive experience in the manufacturing sector, along with our proven track record of delivering high-quality market research and insightful analyses.

Approach and Methodology

  • The study was structured in a systematic, phase-wise manner. The initial phase involved a comprehensive opportunity assessment, encompassing a detailed market overview, segmentation analysis, identification of growth catalysts and product evaluation. In the subsequent phase, meticulous market due diligence and a competitive landscape analysis were undertaken to ascertain the scope of the opportunity and whitespaces and to gain insights into standard industry practices.

RocSearch investigated the Isolated Lightweight MEWPs, focusing on uncovering growth prospects, identifying pivotal market segments and analysing competitors.

Infrastructure & Construction
  • We adopted a top-down strategy, engaging with industry specialists to gauge the market dimensions and growth projections for the insulated & isolated MEWP market.
  • Our evaluation of key markets encompassed product analysis, demand assessment, trend examination, identification of growth propellers and pinpointing favoured sales channels with their respective strategies.
  • We conducted a competitive benchmarking exercise, pinpointing major competitors, understanding their market segmentation, evaluating their market concentration, analysing sales volumes and pricing points, benchmarking product portfolios and features and conducting an end-user analysis.

Business Outcomes

  • The study equipped the client with a deep understanding of crucial market dynamics, facilitating the successful launch of its new product segment.
  • The insights gleaned from the study gave the client the intelligence to devise a long-term strategy and roadmap aligned with the sector’s evolution.
  • The client was successfully able to diversify into the range of Isolated Lightweight MEWPs.

The insights enabled the client to diversify successfully into the range of Isolated Lightweight MEWPs.

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