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Benchmarking Global Mining Equipment Suppliers, 2015

  • October 2015
  • -
  • Global Data
  • -
  • 93 pages

Synopsis
This report examines the global performance of 10 major heavy mobile equipment suppliers: Caterpillar, Joy Global, Komatsu, Hitachi, Sandvik, Atlas Copco, Volvo, Liebherr, BEML and L&T. Each of these companies had significant growth through the mining super-cycle from 2007 to 2012. Yet they now face challenging market conditions amid slumping commodity markets and a global reduction in capital expenditure.

Areas of analysis include:

- Review of the financial performance of each company.

- Review of global customer satisfaction, with satisfaction ratings from 16 factors, covering cost factors, supplier attributes and product attributes.

- Rankings of the leading suppliers for each equipment type, with respondents indicating who they viewed as the top suppliers for trucks, excavators, loaders, shovels, dozers, drills, continuous miners, engines, tyres, pumps and mining software.

Summary
Overall trends in the data revealed:

- Revenues for Mining Equipment suppliers have fallen sharply since their 2012 peak.

- Aftermarket shares of revenues increased substantially between 2012 and 2014.

- Caterpillar is widely recognized as the leading equipment supplier.

- Account managers, quality maintenance and services, and on-time delivery have significant impacts
on supplier selection.

- More successful suppliers perform well in the same key areas.

Scope
- The report is based on responses from a survey of over 600 senior managers at operating mines throughout the world, responsible for the purchase of mining equipment, and examines their level of satisfaction with their main equipment suppliers as well as key factors in supplier selection.

- Survey respondents came from 45 different countries including: Australia, India, the US, South Africa, Canada, Peru, Chile, Colombia, Sweden, Indonesia. This included five different commodity groups and a range of surface and underground mining operations.

Reasons To Buy
- Review the performance of the main equipment suppliers

- Understand who the market currently sees as the leading suppliers, and why

- Develop successful sales and marketing strategies based on current performance of suppliers

Key Highlights
- For the six companies compared, revenues in 2014 were down for most companies for their mining divisions. Most of the reduction in revenue came from regions such as Asia and Australasia, whilst there was more growth for companies in Africa and Latin America.

- The decline of new equipment sales and increased focus on maximizing the value from existing assets has led to a substantial increase in the share of revenues from the aftermarket sector. This is typified by Joy Global whose aftermarket share of revenues grew from 52% in 2012 to 69% in 2014.

- Within the global market, Caterpillar was consistently ranked by respondents as the leading equipment supplier for trucks, excavators, dozers and loaders. Caterpillar was typically followed by Komatsu in each of these equipment types.

- Respondents were asked about how their current supplier differentiated itself from its competitors as part of the selection process. The largest differentiators were ‘better timing of contact’, ‘better ability to build a long-term relationship’, ‘better maintenance and service provision’, ‘better understanding of your needs’ and ‘better track record/expectation of delivery’.

- The top two factors for both importance and satisfaction throughout the surveys were ‘product quality/reliability’ and ‘availability of spare parts’. While Liebherr has the highest global satisfaction average rating, this was based on a relatively small sample, and it was Caterpillar and Komatsu who consistently got the high average ratings for these factors

Table Of Contents

Benchmarking Global Mining Equipment Suppliers, 2015
Table of Contents
1 Executive Summary
2 Supplier Financial Performance
2.1 Annual Revenues by Company
2.2 Revenues by Region
2.3 Backlog to Sales Ratio
2.4 Increasing share of Aftermarket Revenues
3 Leading OEMs by Type of equipment
4 Key Factors in Winning Business
4.1 Comparison of Leading Suppliers
5 Customer Satisfaction Benchmarking for Leading Equipment Suppliers
5.1 Benchmarking leading suppliers
5.1.1 Caterpillar
5.1.2 Joy Global
5.1.3 Komatsu
5.1.4 Atlas Copco
5.1.5 Sandvik
5.1.6 Bharat Earth Movers Ltd (BEML)
5.1.7 Larsen and Toubro Ltd (LandT)
5.1.8 Volvo
5.1.9 Hitachi
5.1.10 Liebherr
6 Supplier Benchmarking by Key Factor
6.1 Introduction
6.2 Product Quality/Reliability
6.3 Lowest Price
6.4 Total Life Costs
6.5 Product Matching to Needs and Customization
6.6 Breadth of Product Range
6.7 Complete Service Solution
6.8 Lead Time/Speed to Deliver and Install Equipment
6.9 Energy Efficiency
6.10 On-Time Delivery and Installation
6.11 Product Training
6.12 Maintenance and Service Costs
6.13 Availability of Replacement Parts
6.14 Local/On-Site Service and Repair
6.15 Average Total Operating Hours of Equipment
6.16 Depth of Data and Reporting Available on Equipment
6.17 Ability to Develop a Long-Term Partnership
7 Action Points and Recommendations
8 Appendix I
8.1 Selected Data Tables
9 Appendix II
9.1 Survey Background
9.2 Analysis of the Survey Sample
10 Appendix III
10.1 What is This Report About?
10.2 Methodology
10.3 Contact Timetric
10.4 About Timetric
10.5 Disclaimer

List of Tables
Table 1: Global Ranking of OEMs by Equipment Type
Table 2: Annual Mining Revenues by Company, 2010 - 2014
Table 3: Change in Revenue by Region by Company, 2013 - 2014
Table 4: Backlog to Sales Ratios for Caterpillar, Joy Global, Sandvik and Atlas Copco, 2010 - 2014
Table 5: Types of Mining Equipment Provided by Company
Table 6: Global Ranking of OEMs by Equipment Type
Table 7: Factor Analysis by Region - Product Quality/Reliability
Table 8: Factor Analysis by Region - Lowest Price
Table 9: Factor Analysis by Region - Total Life Costs
Table 10: Factor Analysis by Region - Product Matching to Needs and Customization
Table 11: Factor Analysis by Region - Breadth of Product Range
Table 12: Factor Analysis by Region - Complete Service Solution
Table 13: Factor Analysis by Region - Lead time/Speed to Deliver and Install Equipment
Table 14: Factor Analysis by Region - Energy Efficiency
Table 15: Factor Analysis by Region - On-time Delivery and Installation
Table 16: Factor Analysis by Region - Product Training
Table 17: Factor Analysis by Region - Maintenance and Service Costs
Table 18: Factor Analysis by Region - Availability of Replacement Parts
Table 19: Factor Analysis by Region - Local/On-site Service and Repair
Table 20: Factor Analysis by Region - Average Total Operating Hours of Equipment
Table 21: Factor Analysis by Region - Depth of Data and Reporting Available on Equipment
Table 22: Factor Analysis by Region - Ability to Develop a Long-Term Partnership
Table 23: Company Revenue by Region (%), 2015
Table 24: Differentiation by Factor, Global (%) 2015
Table 25: Caterpillar - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 26: Joy Global - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 27: Komatsu - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 28: Atlas Copco - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 29: Sandvik - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 30: BEML - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 31: LandT - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 32: Volvo - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 33: Hitachi - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 34: Liebherr - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 35: LandT - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Table 36: Factor Analysis by Main Supplier - Product Quality/Reliability, 2015
Table 37: Factor Analysis by Main Supplier - Price, 2015
Table 38: Factor Analysis by Main Supplier - Total Life Costs, 2015
Table 39: Factor Analysis by Main Supplier - Product Matching to Needs and Customization, 2015
Table 40: Factor Analysis by Main Supplier - Breadth of Product Range, 2015
Table 41: Factor Analysis by Main Supplier - Complete Service Solution, 2015
Table 42: Factor Analysis by Main Supplier - Lead Time/Speed to Deliver and Install Equipment, 2015
Table 43: Factor Analysis by Main Supplier - Energy Efficiency, 2015
Table 44: Factor Analysis by Main Supplier - On-Time Delivery and Installation of Equipment, 2015
Table 45: Factor Analysis by Main Supplier - Product Training Delivered, 2015
Table 46: Factor Analysis by Main Supplier - Maintenance and Service Costs, 2015
Table 47: Factor Analysis by Main Supplier - Availability of Replacement Parts, 2015
Table 48: Factor Analysis by Main Supplier - Local/On-Site Service and Repair Capabilities, 2015
Table 49: Factor Analysis by Main Supplier - Average Total Operating Hours of Equipment, 2015
Table 50: Factor Analysis by Main Supplier - Depth of Data and Reporting Available, 2015
Table 51: Factor Analysis by Main Supplier - Ability to Develop a Long-Term Partnership, 2015

List of Figures
Figure 1: Change in Company Mining Division Revenue, 2013-2014 (%)
Figure 2: Joy Global's Sales of Equipment vs Aftermarket Sales, 2012-2014
Figure 3: Benchmarking of Customer Satisfaction Ratings for All Leading Suppliers, 2014-2015
Figure 4: Company Revenue by Region, 2014
Figure 5: Typical Life Cycle Costs of Mining Equipment
Figure 6: Joy Global Aftermarket vs Equipment Sales, 2006-2014
Figure 7: Leading Suppliers by Region - Surface Equipment and Parts - Part 1
Figure 8: Leading Suppliers by Region - Surface Equipment and Parts - Part 2
Figure 9: Leading Suppliers by Region - Underground Equipment - Part 1
Figure 10: Leading Suppliers by Region - Underground Equipment - Part 2
Figure 11: Leading Suppliers by Commodity - Surface Equipment and Parts - Part 1
Figure 12: Leading Suppliers by Commodity - Surface Equipment and Parts - Part 2
Figure 13: Leading Suppliers by Commodity Type - Underground Equipment - Part 1
Figure 14: Leading Suppliers by Commodity Type - Underground Equipment - Part 2
Figure 15: Leading Suppliers by Company Size - Surface Equipment and Parts - Part 1
Figure 16: Leading Suppliers by Company Size - Surface Equipment and Parts - Part 2
Figure 17: Leading Suppliers by Commodity Type - Underground Equipment - Part 1
Figure 18: Leading Suppliers by Commodity Type - Underground Equipment - Part 2
Figure 19: Areas Where Main Suppliers Differentiated Themselves from their Competitors (%), 2015
Figure 20: Top Three Differentiating Factors for Leading Equipment Suppliers, 2015
Figure 21: Main Heavy Mobile Equipment Suppliers by Share of Respondents (%), 2015
Figure 22: Main Heavy Mobile Equipment Suppliers by Share of Respondents (%), 2015
Figure 23: Benchmarking of Customer Satisfaction Ratings for All Leading Suppliers, 2015
Figure 24: Caterpillar - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 25: Caterpillar - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 26: Caterpillar - Satisfaction by Region, 2015
Figure 27: Joy Global - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 28: Joy Global - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 29: Joy Global - Satisfaction by Region, 2015
Figure 30: Komatsu - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 31: Komatsu - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 32: Komatsu - Satisfaction by Region, 2015
Figure 33: Atlas Copco - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 34: Atlas Copco - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 35: Atlas Copco - Satisfaction by Region, 2015
Figure 36: Sandvik - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 37: Sandvik - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 38: Sandvik - Satisfaction by Region, 2015
Figure 39: BEML - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 40: BEML - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 41: LandT - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 42: LandT - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 43: Volvo - Breakdown of Respondents by Mine Type and Mineral (%), 2014
Figure 44: Volvo - Customer Satisfaction Ratings and Average Importance Ratings, 20115
Figure 45: Volvo - Satisfaction by Region, 2015
Figure 46: Hitachi - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 47: Hitachi - Customer Satisfaction Ratings and Average Importance Ratings, 2015
Figure 48: Hitachi - Satisfaction by Region, 2015
Figure 49: Liebherr - Breakdown of Respondents by Mine Type and Mineral (%), 2015
Figure 50: Liebherr - Customer Satisfaction Ratings and Average Importance Ratings, 20115
Figure 51: Factor Analysis by Main Supplier - Product Quality/Reliability
Figure 52: Factor Analysis by Main Supplier - Lowest Price
Figure 53: Factor Analysis by Main Supplier - Total Life Costs
Figure 54: Factor Analysis by Main Supplier - Product Matching to Needs and Customization
Figure 55: Factor Analysis by Main Supplier - Breadth of Product Range
Figure 56: Factor Analysis by Main Supplier - Complete Service Solution
Figure 57: Factor Analysis by Main Supplier - Lead time/Speed to Deliver and Install Equipment
Figure 58: Factor Analysis by Main Supplier - Energy Efficiency
Figure 59: Factor Analysis by Main Supplier - On-time Delivery and Installation
Figure 60: Factor Analysis by Main Supplier - Product Training
Figure 61: Factor Analysis by Main Supplier - Maintenance and Service Costs
Figure 62: Factor Analysis by Main Supplier - Availability of Replacement Parts
Figure 63: Factor Analysis by Main Supplier - Local/On-site Service and Repair
Figure 64: Factor Analysis by Main Supplier - Average Total Operating Hours of Equipment
Figure 65: Factor Analysis by Main Supplier - Depth of Data and Reporting Available on Equipment
Figure 66: Factor Analysis by Main Supplier - Ability to Develop a Long-Term Partnership
Figure 67: Respondent Countries (%), 2015
Figure 68: Survey Respondents by Mine Type (%), 2015
Figure 69: Survey Respondents by Commodity (%), 2015

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