LONDON, Oct. 31, 2012 /PRNewswire/ -- The need to improve manufacturing uptime, plant profitability and process efficiency, paralleled by the rising complexity of manufacturing processes, has underscored the demand for enhanced motor services.
New analysis from Frost & Sullivan (http://www.motors.frost.com), Opportunity Analysis of European Motor Services Market, finds that the market earned revenues of $766.8 million in 2011 and estimates this to reach $1289.9 million in 2018. The research covers technical consulting, motor management, installation and commissioning, maintenance and repairs and other (training and standby motors) services.
"The European motor services market is moving toward predictive maintenance, which offers significant advantages to motor manufacturers and end-users," notes Frost & Sullivan Research Analyst Raaj Thilak Raveendran. "Remote maintenance and servicing of motors is the next 'big thing' which will drastically improve asset utilisation levels."
Evolving energy regulations have highlighted the inadequacy of in-house motor maintenance. Instead, the focus has shifted to motor manufacturers with expertise in motor service maintenance who can facilitate energy efficient practices.
"In addition to providing full service capabilities, motor manufacturers have moved to predictive maintenance of motors, continually recording motor information and alerting service personnel in case of deviation," explains Raveendran. "Motor manufacturers also provide complete life cycle services for purchased motors, highlighting the importance of expert service in the motor space."
As the market makes a strong recovery from the global economic crisis, a key challenge in the short to medium term will be for motor manufacturers to provide the right service mix for end users.
End user service requirements typically vary, with most preferring customised solutions. The challenge, therefore, will not only be to provide services for the product supplied, but also to understand the functioning of the total plant and customise the service offering accordingly. It is expected, however, that once motor manufactures and service providers gain sufficient expertise the impact of this challenge will diminish.
Another challenge currently is the inability to quantify the ROI gained from efficient motor servicing. As a result, end user investment in motor services has been limited.
"However, the emergence of advanced technologies like remote monitoring and troubleshooting are likely to enable end users to realise the benefits of such services," concludes Raveendran.
If you are interested in more information on this study, please send an e-mail with your contact details to Anna Zanchi, Corporate Communications, at email@example.com.
Opportunity Analysis of European Motor Services Market part of the Power Transmission Growth Partnership Services program, which also includes research in the following markets: Electric Drives Market in European Packaging Industry, Strategic Analysis of Electric Drives Market in European Material Handling Industry, Strategic Analysis of European AC FHP market and European Low Voltage Drives Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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SOURCE Frost & Sullivan