Leading vendors are adopting analytics for predictive maintenance to sustain the competition
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global motors and drives services market in their latest research report. This report also lists 23 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of motor and services to different end-user industries.
- Motors: It is a mechanical or electrical device that powers a machine through linear or rotational force. The two main types of motors used are AC and DC motors, depending on the type of current.
- Drives: It is an electromechanical device, which controls the frequency and amount of electricity delivered to a motor, and thus controls the torque and speed of the motor.
This Technavio report, under automation vertical, is based on the synthesis, analysis, and interpretation of information about the global motors and drives services market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
Click here to request a free sample of this report
Competitive vendor landscape
The players in the market are competing on the basis of product performance, portfolio and service offerings, applications, knowledge of integrated systems, and quality of products. The companies are focusing on business challenges, pricing, delivery, and customer service to sustain the competition in the market. The competition in the market is very intense due to the presence of a number of international and regional players. The vendors in the market are offering both motor and devices services to diversify their product portfolio and attract more consumers. Distributors and vendors are forming strategic alliances and partnerships to advertise and market their products and services through different distribution channels including e-commerce sites. The manufacturers in the market are focusing on geographical expansion, product and service innovation, capacity expansion, and customer retention to retain their market share and increase their profitability. The vendors are trying to increase their global footprint by expanding their products and services to emerging markets like Southeast Asia, Africa, and South America.
“Companies are integrating their maintenance tools with analytics and statistical models tool to obtain real-time data, facilitate prompt identification of errors, and enhance the decision-making process. Various vendors are offering cloud-based platforms to industries for predictive maintenance and monitoring assets. These platforms offer effective monitoring of motors, drives, and other components in multiple remote plants from a centralized location. Some of the other advantages of using these models are detection process deviations, operation optimization, predictive modeling, production forecasting, and cost-benefit analysis,” says Bharath K, a lead analyst at Technavio for research on automation.
Top five vendors in the motors and drives services market space
ABB
The company provides power and automation technologies for utility, industry, and transport and infrastructure customers across the world. It in the manufacturing and marketing of a variety of products, including wind converters, variable speed drives, programmable logic controllers, motors, robots and robotics, generators, solar inverters, and subsystems for railways. It also focuses on related services, which offer a broad range of applications, including process industries, discrete automation, transportation, and utilities.
Danfoss
Danfoss offers product and services that are used in fields such as air conditioning, refrigeration, motor control, heating, along with mobile machinery. The company offers a wide range of services under DrivePro which includes dimensioning and engineering for a new installation and the long use phase contributing to the value chain and product’s lifecycle. Recently, the company acquired Vacon, to combine the application expertise and innovative product portfolios of Vacon into Danfoss.
Emerson Electric
The company provides systems and software, measurement and analytical instrumentation, valves, actuators, and regulators. It also provides reliability consulting that consists of digital plant architecture, allowing communication of devices with centralized systems for industries such as petroleum, food and beverages, chemicals, pulp and paper, pharmaceuticals, and municipal water supplies. Recently, the company launched its CSI 3000 Machinery Health(tm) Monitor, which focuses on delivering field-mounted, dual-channel protection for rotating assets that further lowers costly sudden machine shutdown.
Rockwell Automation
The company offers a combined portfolio of intelligent motor control and industrial control products, and application expertise and project management capabilities. Its product offerings include signaling devices, termination and protection devices, relays, timers, motor and circuit protection devices, push buttons, alternate current (AC) or direct current (DC) variable frequency drives, and low and medium voltage electro-mechanical as well as electronic motor starters and condition sensors.
Siemens
Siemens’ energy management division, has expertise in providing solutions that are to be used in process industry such as brewing, CPG, chemicals, and others. It offers off-the-shelf motor delivery service for its customers in North America. Recently, the company extended its long-term contract with Nubaria, Talkha, and El Kureimat power stations for offering service and maintenance in Egypt.
Other prominent vendors in this market include Allied Motion Technologies, ARC Systems, Asmo, Bilfinger, Brammer, Franklin Electric, Fuji Electric, General Electric, Huali, KEB, Mitsubishi Electric, Nidec, Omron, Rexel, Schneider Electric, SEW Eurodrive, TECO-Westinghouse, Toshiba International, WEG, Wood, W.W. Grainger, Yaskawa, and Yokogawa Electric.
A more detailed analysis is available in the Technavio report, Global Motors and Drives Services Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
To read more press releases- click here.
Browse related reports:
- Global DC Motors Market 2016-2020
- Global Motor Control Center Market 2015-2019
- Global Electric Motor Market 2015-2019
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
