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Trends in Construction Machinery Lubricants
Published in Leslie R. Rudnick, Synthetics, Mineral Oils, and Bio-Based Lubricants, 2020
The construction machinery rental business is projected to grow close to 91 billion USD by 2021 [1]. The growth of the rental business is tied to and is consistent with a drastic decrease in the purchasing of construction equipment, which continues in recent years. Factors such as rising cost of purchasing equipment, high-cost maintenance, lack of easy access to capital, increasing borrowing interest rates, use of advanced technology, availability of limited space, economic uncertainty, and machine breakdowns involving expensive repair, have reduced the individual purchase of construction equipment. Rental equipment might be the only viable option for smaller contractors, who constitute majority of the end users of construction machinery. The rental option ensures financial stability and reduces unpredictable risks. Due to the high competition amongst independent rental companies for business, the rental companies require universal, yet inexpensive and robust, solutions for the equipment and lubricants. The machines and their components must be optimized for the Total Cost of Ownership (TCO). Although, as of today, there is no definition for these kinds of a universal lubricant, over the past few years the construction machinery OEMs have been requiring the lubricant technology to be designed around the TCO concept and return on investment (ROI) criteria. These criteria range from power improvement, long life, filled for life, and operator safety in addition to application-based performance specifications.
Economic and Environmental Assessment of the Transport Sector in Smart Cities
Published in Evanthia A. Nanaki, George Xydis, Exergetic Aspects of Renewable Energy Systems, 2019
The economic comparison between the different vehicle technologies under examination is based on the methodology of Total Cost of Ownership (TCO), which describes the costs associated over the entire lifetime of each vehicle technology. Total Cost of Ownership (TCO) refers to the sum of all costs incurred throughout the lifetime of owning or using an asset; they typically go beyond the original purchase price. TCO enables decision makers to look at asset procurement in a more strategic way (beyond the lowest bidder) and to a level playing field when choosing among competitive bids where the lowest priced bid may or may not be the least costly asset to procure. In this section, the economic comparison between power trains is based on the Total Cost of Ownership (TCO), as well as purchase price, as it describes the costs associated over their entire lifetime. All costs are “clean” of tax effects, including carbon prices. EVs are expected to have a higher purchase price than ICEs (battery related) but have a lower fuel cost (due to greater efficiency and no use of oil) and a lower maintenance cost (fewer rotating parts).
Maintenance Costing in Traditional LCC Analysis
Published in Diego Galar, Peter Sandborn, Uday Kumar, Maintenance Costs and Life Cycle Cost Analysis, 2017
Diego Galar, Peter Sandborn, Uday Kumar
A related concept, total cost of ownership (TCO), refers to all the costs associated with the use of assets including the administrative costs, training and development, maintenance, technical support, and any other associated costs. In fact, the TCO of an asset is often far greater than the initial capital outlay cost and can vary significantly between several different possible solutions that satisfy a given operational need (Voogt and Knezek, 2008).
Leasing or buying white goods: comparing manufacturer profitability versus cost to consumer
Published in International Journal of Production Research, 2020
Patricia van Loon, Charles Delagarde, Luk N. Van Wassenhove, Aleš Mihelič
The total cost of owning a product can be assessed with the Total Cost of Ownership (TCO) model. However, a simplified model to estimate the cost for consumers of leasing versus buying a washing machine, excluding the cost of consumables, is used in this paper. Even though consumables represent a large share of the total costs for consumers (Saccani, Perona, and Bacchetti 2017), we do not expect large differences in the amount of water and detergent use when consumers buy or lease the washing machine. At a later stage, when a profitable business model can be found, a more extensive analysis of the TCO including consumables can easily be made (see also the conclusion section).
Reigning in on Data Center Energy Efficiency
Published in Energy Engineering, 2018
Shrenik Ajmera, Tejas Desai, Frank Morrison
For all of these options, the lowest total cost of ownership (TCO), which takes into consideration first cost, operating costs, and maintenance costs over the life of the system, can also be used to help establish an optimum system configuration for a specific facility.