US heavy equipment industry best practices: 5 strategies to drive growth

Published on June 15, 2023

In today's uncertain economic climate, heavy equipment manufacturers are constantly searching for effective ways to enhance their profitability. They have found that cost-cutting measures can only go so far, and as a result, they’ve turned to pricing as a crucial lever to respond to market fluctuations.

With decades of experience delivering measurable results for leading heavy equipment manufacturers and service providers, Simon-Kucher knows how to successfully guide businesses through volatile economic environments. Drawing from our extensive experience, we’ve identified five pricing strategies that heavy equipment companies can employ to become "pricing winners" under the current macroeconomic conditions.

1. Differentiate price increases by customer WTP, not just historical demand

To optimize pricing, it is vital to understand the elasticity of demand across different customer segments and product types. It is critical to…

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