High voltage post and sky in twilight time

Adjacent Markets Growth Strategy for a Supplier of Equipment to the Electric Utility Industry

The Challenge: Blue Canyon’s client recognized that to achieve its growth goals it would need to look outside of its core market to adjacent markets. The client needed to understand what its adjacent market opportunities were and which ones were the best strategic fit for its business.

Assessment: Blue Canyon, working alongside the client, developed and applied a framework for identifying all of the client’s adjacent market opportunities and prioritizing them. Three high potential markets were selected based on value creation opportunity and ease of execution for deep dive analysis through marketplace interviews. Marketplace interviews identified the key trends and dynamics of each adjacent market as well the appropriate value proposition, competitive positioning, and barriers needed to be overcome for successful market entry.

Strategic Solution: Blue Canyon recommended entering two of the three adjacent markets explored (one via acquisition and one via building in house capabilities) and taking a wait and see approach to the third adjacent markets (due to uncertainty in the market and less than ideal fit of end customer and channel).

Results: Entering these adjacent markets would allow the client to triple its top line revenue within five years.

Related Insights

Industrial Gas Products Company Adjacent Market

Industrial Gas Company Identifies Adjacent Markets to Achieve Growth Goals

Challenge: An industrial company that supplies propellants, specialty gases, and alternative fuels was seeking new revenue sources through adjacent opportunities. While our client was a...
Electric Vehicle EV Automotive Industry

A Fortune 50 Global Company Evaluates its Future Portfolio in Evolving Automotive Industry

Challenge: A global company with expertise in engineering materials was going through major spin-off and restructuring. With changing assets and capabilities, the company was evaluating...
Water tanks in the wastewater treatment processing after drained from the generator power plant in cooling systems

Wastewater Supplier Targets $100M Adjacent Market Opportunity

Challenge: An operating company of a Midwest private equity firm that was a leading supplier in the water and wastewater industry wanted to double its...
+
Industries
Across
+
Countries
+
Publications