Gear Motors External Services Market is Driven by Increasing Importance of Predictive and Preventive Maintenance

The external services for gear motors include after market services such as repair and maintenance. Currently, external service providers are expected to attract customers for periodic repair and maintenance tapping into the manufacturers’ potential revenue alternatives. Gear motors external services providers cater to various industries such as food and beverages industry, metals and mining industry, power industry, material handling industry, oil and gas industry, chemical industry, petrochemical industry, construction industry, pulp and paper industry, water and waste water management industry, heavy machinery industry, and agriculture industry.

The gear motors market is segmented by type of service as emergency (breakdown) services, spare parts, and maintenance (and repair) services. The maintenance and emergency services dominate the gear motors external services market. However, the spare parts segment is expected to witness significant growth in gear motor external services market owing to replacement needs in the complex industries. The key players in the gear motors external service market include SEW Eurodrive, BFT Automation UK Ltd., Siemens AG, SKF International, Bonfiglioli and David Brown Gear Systems Ltd, Framo Morat Group among others. Gear motor external services market is segmented by geography into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Currently North America is the largest market for gear motors external services. China is one of the leading revenue contributors in the global gear motors external services market.

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In environments where gear motors are subjected to extreme conditions, constant maintenance is required. Thus, to maintain the life and efficiency of gear motors, demand for external services is gaining traction. Increasing importance of predictive and preventive maintenance is driving the gear motors external services market. Gear motor manufacturers are focusing mainly on conditional monitoring thus increasing the demand for external services in the gear motors market.

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Customized gear motors are gaining traction in the market. In case of customized high powered gear motors, only the manufacturer holds the sufficient knowledge to provide repair services thus restraining the demand for external services in the gear motors market. However, as high powered gear motors require constant maintenance the demand for external services is expected to boost. Moreover, with manufacturers (gear motors) looking for alternatives to expand their network worldwide, demand for service providers is expected to further surge. The trend is further estimated to strengthen as customers look for quality/certified service providers so as to ensure higher run time of these motors for enhanced efficiency.