Market assessment of new construction sector
A contractor was considering a strategic expansion into the M&E market. To support their decision the board needed an overview on whether the market offered a sustainable opportunity for long-term growth and profitability. This required gathering insights into the size, potential and competitors in the market.
They asked Leading Edge to undertake a market research study. The main aims involved assessing the opportunity for a new entrant and the success criteria needed, along with determining the best method of entry into the market. We also had to determine if the company’s delivery model could be successfully transferred to this new market.
We reviewed the market drivers and likely market developments and reviewed the key players in the market. We achieved this through comprehensive desk research, determining the size and number of companies operating in the market, and what services they offered.
The project has given the contractor a clear view of the characteristics and size of the market. This will now enable them to make an informed decision on whether their business model matches with the success factors required to grow business with customers in this market.