Industrial Equipment & Technology

The industrial world is in the midst of significant transformation. The rapid proliferation of automation technology and industrial internet of things (IIoT)-enabled solutions has enabled new revenue streams and profit pools while introducing new actors and competitors to traditional industrial markets. Amid these rapid changes, manufacturers and suppliers of industrial equipment are faced with a multitude of new opportunities and disruptive threats to their established business strategy.

Companies operating in the industrial equipment and technology market face a number of challenging strategic questions:

What IIoT applications and automation technologies are being adopted in our core markets, and how should we adapt our product development strategy and overall solution offering?
Given rapid technological development, how is maintenance and operation of industrial equipment evolving, and how can we drive more aftermarket parts and service revenue for our products?
What new high-growth, high-margin industrial end markets are addressable with our products, services and solutions, and which should we enter?
How should we gain access to innovative technologies — build, buy or partner?
What companies are ideally positioned for growth in the industrial equipment and technology industry, and how should we deploy our investment resources?

2023 IE&T Manufacturing Survey Trends

Industrial leaders are reshaping strategies to build resilience and sustain growth in a shifting manufacturing landscape.

How we help

L.E.K. Consulting supports leading industrial companies and investors as they navigate the rapidly evolving market for industrial equipment and technology solutions. We advise a diverse range of businesses, including original equipment manufacturers, component suppliers, service firms and private equity investors. Our experienced professionals have a deep understanding of key issues in the major underlying end markets — such as energy, chemicals, pharmaceuticals, food and beverage, mining, transportation, automotive, aerospace, and general manufacturing — that are heavy users of industrial equipment and technology. We bring a unique combination of objective analysis and insight, leveraging knowledge gained from decades of experience with leading industrial companies and investors in this space.

We help businesses create sustainable and differentiated value for their customers, their shareholders and the broader stakeholder environment. Our work focuses on several areas:

Market evaluation and strategy development

Market assessments, corporate and business unit strategy development, innovation support, sustainability strategy, capital allocation

Mergers and acquisitions

M&A strategy, target screening, transaction support/due diligence, post-merger planning and integration, alliances and joint venture planning, dispute resolution and litigation support services

Commercial excellence

Customer strategy and segmentation, go-to-market and channel strategies, sales force effectiveness, pricing strategy, new product development

Performance improvement and operational excellence

Organizational effectiveness, cost out, operational and supply chain excellence, digital transformation, program management

Data and analytics

Commercial decision support, analytics and data strategy, advanced analytics enablement

Our Successes

Water Equipment Company Develops a SMART Connected Services Strategy

We utilized L.E.K.’s SMART framework for digital solutions to assess the suitability of incorporating connected features in the design of new and existing…