Electric Drives: European Repairs and Refabrication Market Fuelled by Advanced Services at Reasonable Prices, Says Frost & Sullivan

Electric Drives: European Repairs and Refabrication Market Fuelled by Advanced Services at Reasonable Prices, Says Frost & Sullivan PR Newswire LONDON, Aug. 8, 2012 - Increasing awareness on the benefits of drives servicing and newer methods attract end users in process industries LONDON, Aug. 8, 2012 /PRNewswire/ -- The demand for high efficiency - along with the need to reduce energy consumption - is driving growth in the repairs and refabrication market for electric drives in Europe. However, growth will be slow in the short term owing to economic instability, decreased end user confidence and the ongoing debt crisis. New analysis from Frost & Sullivan (http://www.motors.frost.com), Repairs and Refabrication Market for Electric Drives, finds that repairs and refabrication of electric drives is likely to account for about 1/3 of the revenues generated by sales of electric drives to various end users across Europe. The market accounted for about €599.5 million in 2011, increasing by 5.7% in 2011 after experiencing fall in demand in 2010. Revenues are estimated to reach €940.3 million in 2018. The shift from traditional servicing methods to predictive and preventive maintenance techniques allows service providers to take measures to avert malfunction or minimize its effect and downtime. These technologies are progressively being made available at a reasonable price, thus attracting end users.