Frost & Sullivan's On-Demand Analyst Briefing - European Motor Services: Paradigm Shift towards Predictive Maintenance Aids Growth
LONDON, May 15, 2012 /PRNewswire/ -- Frost & Sullivan Research Analyst Raaj Thilak Raveendran completed extensive analysis on the European Motor Services Market. The research expert led a short teleconference about new findings that affect the market.
The European motor services market grew at a healthy rate in 2011. However, the outlook for 2012 is gloomy due to the impact of the ongoing debt crisis in Europe. The need to improve uptime, increase plant profitability, process efficiency and complexity of the manufacturing process resulted in the need for increased service requirements.
Adoption of motor management, predictive maintenance systems and online data capture are the key growth factors. However, high competition between the private service companies and tier 1 companies triggers a price war that indirectly affects the total revenue of the services segment.
Highlights of the briefing included analyses of technology trends, competitive structure, customer expectation and end-user trends related to the motor services segment.
The briefing benefited motor manufacturers, private service providers, service partners and consultants who aspire to capitalize on the growing motor services market in Europe, by discussing the current scenario and providing forward projections for the European motor services market across different end-user industries.
"Motor services have transformed from a regular maintenance solution that can increase the lifespan of motors into a strategic business discipline, which can improve the overall efficiency of the asset. Increased technological changes such as predictive maintenance systems and bundled service package options provided by motor manufacturers are some of the key driving factors," observes Research Analyst Raaj Thilak Raveendran .
For more information on Frost & Sullivan's Industrial Automation and Process Control practice, please visit: http://www.frost.com/prod/servlet/svcg.pag/IP00
To receive a recorded version of the briefing, please send an email to firstname.lastname@example.org with your contact details, or click on the following link: http://www.frost.com/prod/servlet/analyst-briefing-detail.pag?mode=open&sid=259989164
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