How Industrial Equipment Manufacturers Can Perform Better in a Global Ecosystem

Industrial equipment manufacturers face extreme challenges in differentiating themselves, as the complexity and competitiveness is on a rise with spreading global ecosystem. Unlike more regulated industries like automotive or aerospace, industrial equipment industry is a crowded market with relatively low barriers to entry. As such, differentiation is critical for manufacturers to compete with players appearing across the world.

This is evident in a research survey from Tech-Clarity, which reveals that almost 45% of the manufacturers consider differentiating product through innovation as their key business strategy to compete globally. These manufacturers also consider competing with global players directly through partnerships and outsourcing models. What sets top performers apart, despite common business strategies, is their way of implementing and supporting these strategies. These top performers have adopted advanced engineering approaches such as…