It emphasizes the importance of effective maintenance strategies and service partnerships
In a recent survey by ABB, 88% of Indian industrial businesses face monthly unplanned outages, costing INR 7 million per hour, compared to the global average of INR 10.3 million. Surprisingly, 19% of Indian businesses prefer run-to-fail maintenance.
The survey, conducted by Sapio Research in July 2023, gathered responses from 3,215 plant maintenance decision-makers globally across the metals, oil and gas, chemicals, energy generation, food and beverage, plastics and rubber, water and wastewater, rail, utilities, marine, wind sectors. It is part of a report that provides insights into how businesses currently manage maintenance and how they can reduce unplanned downtime.
91 percent of respondents are interested in how outcome-based maintenance agreements can boost business success
Amit Gupta, Division President, Motion Services, ABB India Ltd
The findings demonstrate the importance of equipment reliability and maintenance. Globally, ninety-two percent reported that maintenance has increased their uptime in the last year, with 38 percent reporting an improvement of at least a quarter. Also, three-quarters of respondents said that reliability positively impacts their business reputation and financial performance, and helps them meet contractual obligations, prevent waste and secure repeat business. Reliability was rated by respondents as the top priority when purchasing new equipment.
Looking forward, 60 percent plan to increase their investment in reliability and maintenance in the next three years, with a third planning to boost spend by more than 10 percent. Nine in ten respondents expressed interest in outcome-based maintenance agreements. Under these, operators pay service partners based on achieved outcomes, such as increased uptime or energy efficiency. This results in efficient and effective service delivery with predictable cashflow.
Amit Gupta, Division President, Motion Services, ABB India Ltd., said, “The study’s findings make it abundantly clear that our industry frequently underestimates the genuine consequences of unplanned downtime, and the survey strongly corroborates this reality. 91 percent of respondents are interested in how outcome-based maintenance agreements can boost business success.”
