Global Motor Services Growth Opportunities

Global Motor Services Growth Opportunities

Future Growth Potential and Revenue Streams for OEMs Driven by Outcome-based Business Models that Focus on Efficiency

RELEASE DATE
09-Feb-2022
REGION
North America
Research Code: K6D0-01-00-00-00
SKU: IA01644-NA-MT_26248
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Description

This study identifies the most recent economic and technological trends in the global motor services industry and analyzes the short, medium, and long-term growth prospects. It examines how the shifting landscape and evolving end-user expectations are driving demand for smarter motor solutions that solve major obstacles end users confront. Today’s industrial requirements are spurring the adoption of digital solutions across industries and creating new revenue opportunities for OEMs and end users by leveraging the data these solutions collect. The research examines the evolution of motor maintenance, from an in-house service to a predictive analytics-based service. It elaborates on how, as technology use increases, the need for individual service providers will slowly fade as OEMs are offering an array of bundled services to improve their stakeholder management.

The COVID-19 pandemic has created unforeseen challenges for businesses and supply chains globally. OEMs are looking at avenues to create lasting connections with end users by providing motor services that help improve product life cycle. To endure economic challenges and remain relevant in an increasingly competitive global context, digital transformation is becoming vital to organizational strategy across industry verticals. The global pandemic, oil price instability, political conflicts, and climate action have accelerated the need to invest in and integrate Industrial Internet of Things (IIoT) technologies. The great need for end users to reduce total expenditure (TOTEX) and operational expenditure (OPEX) to best navigate through these uncertain economic conditions while also increasing the productivity of their plants to satisfy global demand has boosted demand for digital motor services.

Finally, this research offers three lucrative growth opportunities for the motor services market. Frost & Sullivan identifies these growth opportunities as critical enablers that unlock new revenue streams and deliver differentiated motor products and services.

Research Scope

In this study, motor services include installation and commissioning, training, engineering and consulting, maintenance, provision of spare parts and consumables, replacements, repairs and motor rewinding, advanced services, extensions and upgrades (retrofits), and end-of-life management. 

The end-user industries include oil and gas, chemicals and petrochemicals, food and beverage, water and wastewater, metals and mining, power generation, discrete industries, and others (cement manufacturing, pharmaceuticals, agriculture, electronics, marine, pulp and paper, and textiles). 

The regions are the Americas; Europe, the Middle East, and Africa (EMEA); and Asia-Pacific (APAC). 

The study period is 2020–2026 and the forecast period is 2022–2026.


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Table of Contents

Why is it Increasingly Difficult To Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Motor Services Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Definitions—Motor Services Market

Definitions—Motor Services Market (continued)

End User Definitions

End User Definitions (continued)

End User Definitions (continued)

Market Segmentation by Region

Key Competitors for Motor Services Market

Key Growth Metrics for Motor Services Market

Competitive Landscape Breakdown

Growth Drivers for the Motor Services Market

Growth Driver Analysis for the Motor Services Market

Growth Driver Analysis for the Motor Services Market (continued)

Growth Restraints for the Motor Services Market

Growth Restraint Analysis for the Motor Services Market

Forecast Assumptions—Motor Services Market

Implications of Covid-19 on the Motors Services Market

Revenue Forecast—Motor Services Market

Revenue Forecast by Region—Motor Services Market

Revenue Forecast by Service Type—Motor Services Market

Percent Revenue by Industry Vertical—Motor Services Market

Revenue Forecast Analysis—Motor Services Market

Revenue Forecast Analysis by Region—Motor Services Market

Percent Revenue Forecast Analysis by Industry Vertical—Motor Services Market

Percent Revenue Forecast Analysis by Industry Vertical—Motor Services Market (continued)

Pricing Trends in the Motor Services Market

Competitive Environment—Motor Services Market

Revenue Share—Motor Services Market

Revenue Share Analysis—Motor Services Market

Key Growth Metrics—Motor Services Market: Americas

Revenue Forecast—Motor Services Market: Americas

Revenue Forecast Analysis—Motor Services Market: The Americas

Key Growth Metrics—Motor Services Market: EMEA

Revenue Forecast—Motor Services Market: EMEA

Revenue Forecast Analysis—Motor Services Market: EMEA

Key Growth Metrics—Motor Services Market: APAC

Revenue Forecast—Motor Services Market: APAC

Revenue Forecast Analysis—Motor Services Market: APAC

Case Study 1: ABB Ability™ Condition Monitoring for Motors

Success Factors for Motor Services Providers

Trends Influencing the Motor Services Market

Growth Opportunity 1: Real-time Monitoring Solutions for Motors

Growth Opportunity 1: Real-time Monitoring Solutions for Motors (continued)

Growth Opportunity 2: Motors as a Service as Additional Revenue Streams for OEMs

Growth Opportunity 2: Motors as a Service as Additional Revenue Streams for OEMs (continued)

Growth Opportunity 3: Bundle Services to Acquire More Customers for Revenue Growth

Growth Opportunity 3: Bundle Services to Acquire More Customers for Revenue Growth (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

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Related Research
This study identifies the most recent economic and technological trends in the global motor services industry and analyzes the short, medium, and long-term growth prospects. It examines how the shifting landscape and evolving end-user expectations are driving demand for smarter motor solutions that solve major obstacles end users confront. Today’s industrial requirements are spurring the adoption of digital solutions across industries and creating new revenue opportunities for OEMs and end users by leveraging the data these solutions collect. The research examines the evolution of motor maintenance, from an in-house service to a predictive analytics-based service. It elaborates on how, as technology use increases, the need for individual service providers will slowly fade as OEMs are offering an array of bundled services to improve their stakeholder management. The COVID-19 pandemic has created unforeseen challenges for businesses and supply chains globally. OEMs are looking at avenues to create lasting connections with end users by providing motor services that help improve product life cycle. To endure economic challenges and remain relevant in an increasingly competitive global context, digital transformation is becoming vital to organizational strategy across industry verticals. The global pandemic, oil price instability, political conflicts, and climate action have accelerated the need to invest in and integrate Industrial Internet of Things (IIoT) technologies. The great need for end users to reduce total expenditure (TOTEX) and operational expenditure (OPEX) to best navigate through these uncertain economic conditions while also increasing the productivity of their plants to satisfy global demand has boosted demand for digital motor services. Finally, this research offers three lucrative growth opportunities for the motor services market. Frost & Sullivan identifies these growth opportunities as critical enablers that unlock new revenue streams and deliver differentiated motor products and services.--BEGIN PROMO--

Research Scope

In this study, motor services include installation and commissioning, training, engineering and consulting, maintenance, provision of spare parts and consumables, replacements, repairs and motor rewinding, advanced services, extensions and upgrades (retrofits), and end-of-life management. 

The end-user industries include oil and gas, chemicals and petrochemicals, food and beverage, water and wastewater, metals and mining, power generation, discrete industries, and others (cement manufacturing, pharmaceuticals, agriculture, electronics, marine, pulp and paper, and textiles). 

The regions are the Americas; Europe, the Middle East, and Africa (EMEA); and Asia-Pacific (APAC). 

The study period is 2020–2026 and the forecast period is 2022–2026.

More Information
Author Jinith Jayesh
GPS Codes 9406-A5,99F0-A5,9593
Industries Industrial Automation
No Index No
Is Prebook No
Podcast No
WIP Number K6D0-01-00-00-00