Two important elements to future success for fluid power component manufacturers are research and innovation.
There are many keys to success for manufacturing companies in America. Two that come to mind often lately are market research and innovation and they are very connected. This is true for the companies that manufacture and sell fluid power components. In fact, at this year’s National Fluid Power Association Annual Conference in March, one of the speakers presented on the need for innovation, including a need in fluid power technology.
I am speaking of research in more than one regard. On one hand, component manufacturers need to continuously do research and development of products to create new and better products. Most successful companies are good at researching the next products for the market. The next generation of fluid power components is actually an ongoing development. The Center for Compact and Efficient Fluid Power is one example of where fluid power research is being done and we have reported on that in the pages of this magazine.
This type of research works very closely with innovation. In order for component manufacturers to develop products that answer the needs and demands of machinery in today’s market, they need to do research. They need to keep probing for lighter, faster, quieter, and better components to compete in the US and world market. It is my belief that our manufactures are and will continue to win in this arena.
Another kind of research, the kind that we at H&P can help with, is the kind that lets manufacturers know how to best approach the marketplace. This type of research involves marketing and advertising and our Marketing Services department was created several years ago to help our clients with these kinds of questions. We offer custom research that asks questions like why and how do you buy? We can help manufacturers to understand the market better.
An example of our latest market research is our OEM Outlook study that I have referred to in the past. Let me know if you would like a copy. Our Marketing Services can help our clients with tasks like SEO and eListening. They can also develop mobile apps and websites.
Equipped with information, fluid power component manufactures can and have moved forward with new and more functional products in the marketplace. They continue to innovate and move our industry forward. If you should receive a survey from us asking about the fluid power industry and certain aspects of our technology, please help us out with your answers.