Motor Repair and Maintenance Market
Added: (Thu Nov 22 2018)
Pressbox (Press Release) -
The global motor repair and maintenance market is expected to witness a steady growth in the upcoming years. As regular maintenance of motors helps in reducing the risk factor and improving the lifespan of a machine, the demand for motor repair and maintenance services is increasing worldwide.
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As per the latest report by IMARC Group, titled “Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global motor repair and maintenance market reached a value of more than US$ 28 Billion in 2017. Electric motors create a huge impact on productivity as well as the profitability of a business. An unscheduled stoppage in the production process with long hours of shutdown for repairing can lead to a massive monetary loss. The factors which generally affect the functioning of a motor include misalignment of the shaft, insufficient lubrication in bearings and winding insulation resistance. A well-planned motor maintenance service aims at averting critical breakdowns caused by these factors, thereby reducing downtime and preventing serious damage to the motor. Some of the motor repair and maintenance services include winding tests, visual inspections, and brush and commutator maintenance.
Global Motor Repair and Maintenance Market Trends:
Electric motors are widely used in pumps, compressors, refrigerators, lathe machines, disk drives, power tools, vacuum cleaners, dishwashers, fax machines, sewage treatment plants, etc. Regular utilization of electrical motors in several end-use industries, such as HVAC, mining, and food and beverage, is one of the major factors which is catalyzing the growth of the motor repair and maintenance market across the globe.
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