“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 in a recent briefing to motor manufacturers, private service providers, service partners and consultants win the European motor services market.
EU motor services market grew at a healthy rate in 2011, but 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.
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