The infrastructure sector is the backbone of the growth of any country. In a young country like India, the infrastructure sector is still at its nascent stage but is growing rapidly with growth in its economy and population. BDB India recognized the importance of building the expertise for market research capabilities for the equipment and technologies used in the mining & construction sector at an early stage of its inception in 1989. When the economy opened up the need for market research in the construction sector, the need for construction equipment also started growing and interest from domestic and international companies ranging from equipment suppliers, components & system suppliers to mining & construction equipment manufacturers started growing.
Since 1991, BDB India conducted studies related to equipment and systems that find applications in most mining and infrastructure sectors like excavators, backhoe loaders, tower cranes, dumpers, mining trucks, road paving equipment, road rollers, crushing equipment, drilling equipment, etc. The value chain of construction equipment requires critical components like a hydraulic system, engine and its components, attachments, slewing bearings, crawlers, tyres and consumables like lubricants, and bearings. It was an interesting opportunity for BDB to participate in these market research studies. Type of client engagements includes product launch-related studies for identifying the suitable specifications required for different applications, acceptability of small equipment in India, pricing analysis of components, maintenance benchmarking analysis, maintenance and overhauling practises at mining sites, road construction projects, estimation of equipment potential based on the projects announced at various applications like Airports, categories of roads (NH, SH, Municipal roads, rural roads etc) and customer experience & satisfaction studies.
BDB conducts these studies through primary market research by interacting with stakeholders including project management companies, contractors and subcontractors, government agencies, equipment suppliers, experts in the industry, etc. BDB has an in-house team that tracks and understands the developments taking place in both applications like the mining & construction sector and also the equipment and technologies being used in the sector.
As most studies are related to identifying what is fit for Indian conditions, it is important to understand the technical parameters as well as commercial implications of the product being studied for each application. BDB has the privilege of working for equipment and systems used in infrastructure segments like roads, ports, airports, residential & commercial buildings, agriculture, and mining applications.
BDB’s in-house team is supported by business advisors who have hands-on experience in the infrastructure sector and construction equipment sector to make sure that client engagement is seamless in this sector.
BDB seamlessly conducts studies in South Asia, South East Asia, Middle East and Africa.
Q1. What is the type of primary research being conducted in this research?
Mining & construction is a dynamic sector in India and is directly related to government reforms, international investments, privatization etc. Organizations are interested in understanding the dynamics of application segments and market mapping and opportunities for various types of equipment being used in various types of mining and different sub-segments of construction sites.
Q2. What are the main topics addressed in a typical customized primary market research study in the sector of mining and construction equipment?
While using equipment in the field, organizations frequently attempt to comprehend the needs gaps and pain spots of contractors working in the mining and construction industries. Customized primary market research frequently examines topics such as customer journey mapping, service benchmarking evaluation, spare parts pricing, opportunities and attachment usage for different mining and construction activities, operational costs, application-specific opportunities for specific equipment, opportunities for equipment leasing and financing, etc.
Q3. About the mining and construction equipment sector, who are the usual respondents?
The primary respondents for a typical customized primary market research in this field include mining companies, both public and private, captive miners, construction companies, investors, contractors , equipment suppliers, rental agencies, leasing and finance firms, equipment operators, captive and independent equipment maintenance workshops, distributors of equipment and spare parts, producers of attachments and critical products & components like engines& hydraulics, etc.
Q4. What type of expertise is required to do research in the mining and construction equipment industries?
Research in the industry requires a deep understanding of the technical aspects of each piece of equipment and its uses. When analyzing this sector, one must possess a thorough understanding of the several types of operational mines as well as the infrastructure industry and other areas of the construction sector. Researchers would also benefit from networking with government and nodal agencies to gain a general sense of the industry.