Client Situation
Our client is a large multinational manufacturer headquartered in the US. It has over $2.5 billion in revenue and about 10,000 employees around the world. It was established in 1929 and serves the defense, oil & gas, chemical and power generation industries. The company wished to expand into new products and markets with the development of new technologies. One of the opportunities was to develop a specialized generator for use in offshore oil & gas platforms and as emergency power back up in nuclear power plants as a result of the BP Deepwater Horizon and Fukushima nuclear disasters respectively.
Cedar’s Approach
Cedar was mandated to provide our client with the technical and market information for emergency power generation equipment in the nuclear power and offshore O&G industries.
- Collected secondary information from government agencies in North America, Asia and Europe regarding changes in the design and placement of back-up emergency generators at nuclear power sites.
- Collected secondary information on the design and construction of offshore O&G platforms.
- Interviewed the leading companies involved in the offshore O&G and nuclear power generation market, including end users, EPCs, architects and equipment suppliers.
- Determined the forecasted market values and units for emergency power generation and provided inputs into the design and performance of the units.
- Worked with our client to create a strategy to enter different geographic markets.
Outcome
The program resulted in the identification of risks and opportunities in the development of emergency power generation equipment in these two demanding markets. The results included
- Identified the size and segmentation of the markets for emergency power at nuclear sites and offshore platforms.
- Determined design and performance targets for the equipment.
- Identified key participants including end users and competitors.
- Approached these key participants to establish partnerships with our client.
- Resulted in a successful development of a new business for the client in power generators.
- We made Strategy Work.