LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global motors and drives services market report. This research report also lists 23 other prominent vendors that are expected to impact the market during the forecast period.
Maintenance and repair (motors) and repair and refabrication (drives) services are in high demand in the motors and drives services market. This is mainly due to their universal application in both Greenfield and Brownfield projects across all industries.
Currently, the motors services market dominates the global motors and drives services sector due to the high demand for services such as decontamination, lubrication, and vibration monitoring in harsh environments, such as in the oil and gas, chemical and petrochemical, pulp and paper, and cement and power industries.
Competitive vendor landscape
Factors influencing the global motors and drives services market differ in terms of product performance, portfolio and service offerings, applications, knowledge of integrated systems, and quality of products. These factors address customers’ business challenges, pricing, delivery, and customer service.
“The number of international OEMs and distributors or third-party vendors is extensive in this market. These vendors provide both motors and drives services to the market. Distributors or third-party vendors form partnerships or acquire other distributors to increase their market presence,” says Bharath Kanniappan, a lead automation analyst from Technavio.
To sustain and grow in this intense market, OEMs are focusing on product and service innovation. An increase in the number of staff and service stations in the service offerings sector is driving the growth of OEMs. Large international vendors have existing customer base. However, with new entrants offering advanced products and services, customer retention has become a major concern for market players.
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Top five motors and drives services market vendors
ABB offers power and automation technologies for utility, industry, and transport and infrastructure customers worldwide. This company targets the motors and drives services market through its discrete automation and motion unit. This business unit is focused on engaging in 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.
Danfoss develops engineering solutions and services across the world. The company's product and service offerings are used in fields such as air conditioning, refrigeration, motor control, heating, along with mobile machinery.
Emerson Electric provides systems and software, measurement and analytical instrumentation, valves, actuators, and regulators. This company 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.
Rockwell Automation is among the major players that focuses on automation and controls the industry with its strong product brands such as Allen-Bradley and Rockwell Software brands. The company targets this market through its Control Products and Solutions division. This division focuses on combined portfolio of intelligent motor control and industrial control products, and application expertise and project management capabilities. Its portfolio includes 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 is a strong global player with expertise in fields such as automation, electrification, and digitization. Its energy management division has expertise in providing solutions that are to be used in process industry such as brewing, CPG, chemicals, and others. It is functioning in 289 major production and manufacturing facilities worldwide. In addition, it also has office buildings, warehouses, R&D facilities or sales offices across the world.
Browse Related Reports:
- Global Servo Motors and Drives Market 2016-2020
- Global Motors and Drives Market in Process Industries 2016-2020
- Global Motors and Drives Market in Discrete Industries 2016-2020
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