Client’s Problem Statement
Our client, a fuels and lubricant additive company, was keen to increase its market penetration in the gear oil business. Markets and Markets engagement helped in solving a series of problems, including but not limited to-
For the target product, our analyst hours were used to assist the client with an outside-in perspective on the market potential in supplying gear oil to major gearbox suppliers across the globe. Further, we helped them identify top gearbox manufacturers to collaborate with, the annual turnover from gearboxes, the total number of gearboxes sold in a year, the average volume of oil in their gearboxes, and oil refill intervals for each application area. Interviews with a host of potential customers in different regions were conducted to understand their unmet needs, supplier selection criteria, and what they looked for in a product. This helped our client refine their value proposition to quickly gain a market share.
Our interactive AI-based market intelligence platform, KnowledgeStore, was leveraged for gaining exclusive insights into adjacent markets. These insights were used in client service solutions to identify sources of revenue shifts in client’s and client’s clients’ ecosystems. An analysis of known and unknown adjacencies impacting revenue growth were also offered.
Revenue Shifts Identified
In Central & South America and Middle East & Africa, there are various environmental and legal factors promoting industrial development. Passenger cars and heavy duty vehicle production are leading to a higher demand of lubricating oil additives in this region. Introduction of dual clutch transmission has impelled the demand for lubricating oil additives and has opened up new opportunity areas for the players. Manufacturers are striving by focusing on M&As and other expansions.
Growing demand for light-weight, fuel-efficient military aircraft for homeland security and counterterrorism is propelling the demand for this market of lubricating oil additives. Demand for advanced lubricating oil additives, which help in reducing carbon dioxide from vehicles and makes effective use of energy resources, thus benefitting the environment, is poised to have an influence on the market.
There are several untapped and unexplored opportunities in the emerging economies of China, India and Brazil. The growth is attributed to high demand of lubricating oil additives from the automotive and other industrial sectors. Due to low labor cost and production cost, lubricating oil additives are primarily manufactured in APAC and exported globally. Higher demand from industrial applications across regions are leading to a higher demand for lubricating oil additives.
Revenue Impact (RI)
Our findings helped the client to penetrate USD 3-3.5 million market, with projected revenue of USD 1 million in 5 years. In addition, the client was able to grow its customer base across the globe.
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