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The demand for Electric & Battery Powered Demolition Tools is expected to witness a spurt due to the construction activity globally. The post-pandemic market correction is providing a further boost. The engagement was focused on providing insights on the market opportunity, competition, and customers to a power tool manufacturer.
This engagement helped the client understand the market potential of demolition tools, thereby strategizing on the initiatives to be taken for a market entry. Following questions were answered during the engagement:
The demolition tools holds 10–15% of the power tools market and is expected to grow at a 5% CAGR for the next 5 years owing to the need for connected tools and improved ergonomicsFutureBridge conducted extensive secondary and 400+ telephonic interviews with tool manufacturers, customers, dealers/distributors to provide insights. The output included the following
The client was able to develop a strategic roadmap for the next 2–10 years. A specific country was prioritized for making an entry by adopting a robust in-house sales channel. In the first year, the client was able to gain a 5% market share in a specific country. They expanded in the specific region and witnessed 20% y-o-y top-line growth.
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