Market Exploration of Wind Power Market
The Challenge: Our client was looking to grow its business in the wind power market. Blue Canyon worked with the client to provide an in-depth understanding of the market’s structure in order to evaluate potential growth opportunities.
Assessment: Blue Canyon conducted three separate studies, each focusing on one of the three key markets for wind power: North America, Europe, and China. Through extensive secondary and primary research we documented the structure, economics, regulations, and key dynamics of each wind power market and also how the three markets interacted with and impacted each other. Blue Canyon documented the key purchase decision makers and influencers in each market, how purchase decisions were made, and current and emerging unmet needs in the market.
Strategic Solution: Based on our assessment of market dynamics and industry needs, Blue Canyon recommended three sets of growth opportunities for each wind power market. For example, we advised that in the North American market the client should focus on driving operations and maintenance efficiency at lower wind sites.
Results: The client implemented an action plan for becoming a solutions provider to the industry, pursuing the opportunity to develop aftermarket supply chain and service solutions for wind turbines that were just coming out from warranty coverage. To better address industry concerns about efficiency and reliability of wind turbines, the client developed partnerships with Chinese OEMs that allowed improved oversight of the manufacturing process. As such, once these partnerships were operational, our client’s revenues increased by 15% in the first year.