ABB – Industrial downtime costs up to $500,000 per hour and can happen every week

• 83 percent of industry decision makers agree that unplanned downtime costs a minimum of $10,000 per hour, with 76 percent estimating an hourly cost of up to $500,000
• However, a full third (33%) have not undertaken any motor or drive modernization projects in the last two years, suggesting that many of these sudden stoppages could be avoided
• With rising material and energy costs, a new ABB study details the bottom-line impact of system breakdowns and explores how industries can shift from crisis-mode repairs to intelligent, life cycle-led planning

A new global report from ABB, developed in partnership with Sapio Research and based on a survey of 3,600 senior decision-makers across multiple sectors, finds that just over half of respondents (55%) have a strategic and proactive plan to modernize facilities and manage out obsolete components like old motors and drives.

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