It is Certain that Nothing is Certain
The energy strategies of many countries and economies will see a switch from fossil fuels to renewable energy sources in the decades to come. Dramatic developments in the situation in Eastern Europe will have fundamental consequences for energy supplies and prices.
We can expect that European countries will further diversify their energy product supply chains and will prioritize energy independence as regards to supplies from outside, which may further accelerate the trend for using renewable energy sources.
It is therefore clear that in energy production, supplies and consumption even greater emphasis will be placed on minimizing any production losses, while modern technologies will be deployed with the aim of maximizing output and reducing total energy production costs.
The crucial factor in this regard is the ability to have an immediate overview of the state of resources, a possibility to effectively evaluate changes in the trend of available resources and, in the process of maintaining them, a chance to plan and implement corrective measures to minimize unscheduled outages. Besides increasing machine reliability, making optimal use of machines can reduce energy consumption. For instance, by correctly adjusting the optical settings of rotary machine shafts, energy consumption can be cut by as much as 17 percent.
Nowadays, the technology used to monitor machines can detect mechanical faults while the machine is running, with no need to disassemble the equipment. This means that not only can undesirable faults be avoided, but the operation of the machine can also be optimized, resulting in a potential reduction in the consumption of energy and the lubricants used to reduce friction on metal surfaces, and extending the lifetime of the associated machine components.
The digitalization in machinery maintenance made available techniques for monitoring the status of machine and subsequently evaluating operating data. The investment needed to purchase these technologies is far lower now than what it was ten years ago, thus, a wide range of machines can be efficiently monitored. However, for certain sectors the costs of purchasing and maintaining these systems are still factors that hinder their implementation.
The business environment is becoming ever less predictable. Manufacturing companies are carefully considering each investment and its return. This means that we are seeing more and more business models where the investor has full control over the financial aspects of the project. Rather than spending CAPEX, just pay as you go for outputs at regular intervals when the agreed KPIs are achieved. Can you imagine paying a monthly fee for the reliability and low energy consumption of rotary machines?
Global Industrial Maintenance Services Market to Reach $85.8 Billion, Globally, by 2031 at 5.6%, CAGR: Allied Market Research
Allied Market Research published a report, titled "Global Opportunity Analysis and Industry Forecast, 2021- 2031". According to the report, the global industrial maintenance services industry generated $49.0 billion in 2021, and is anticipated to generate $85.8 billion by 2031, witnessing a CAGR of 5.6% from 2022 to 2031.
If you use CNC machines as part of your day-to-day business activities, you may be wondering if there are ways to cut corners on your business budget by purchasing generic or outmoded tools.