Project description
Hydraulic equipment to get a digital boost
A wide range of industries use hydraulic tools and the number is expected to increase. However, hydraulic equipment monitoring tools lack precision, resulting in production damages, environmental losses and safety issues. The EU-funded HIGH HYDRAULIC project will develop a system that monitors, analyses and certifies the performance and quality of a hydraulic power tool. The project is designing the first digitalised hydraulic system based on the Internet of Things (IoT). It will be portable and serve to significantly lower the risks of losses in production, reduce environmental impact and increase human safety.
Objective
Hydraulic power drives a variety of devices in a multitude of industries, and due to its versatility and power, the market is expected to grow up to $11.93 billion by 2022. Construction, agriculture, material handling, oil and gas, aerospace, defense, and mining are some of the industries where hydraulic power use is so widespread. Nonetheless, in spite of its usage, yet the monitoring of the hydraulic tool is not accurate neither obtained at real-time. Consequently, these industries still face equipment downtime & replacement which trigger billion euros production losses, environmental damages, and human safety threats.
In response, we have developed the first Internet-of-things (IoT) hydraulic system in the high-pressure hydraulic tools market that monitors the hydraulic tool performance, analyses and certifies the validity and quality of the operation performed by the device at the time of its completion. Our high-efficient digitalized portable hydraulic system consist on embedded sensors that record the performance of the tool (i.e. time, pressure, energy use, n° of cycles), and a connectivity system that transfers the data to our App and our platform for data analysis. Our IoT system is commercialized within our tools, a pipeline of more than 40 models, and is also available for other tools providers (including some old tools where our solution can be integrated)
Our IoT system will enable a reduction of the productivity losses of our customers & human safety and environmental risks. We can estimate revenue gains of €2.4M/year (11.7% of gain) for a single industrial company. Furthermore, after 4-year sales, it will give net revenues of ~€50.65M net profits of ~€22.36M and considering the investment of €1.05M a ROI of ~5.14 euro per € invested.
Fields of science
- natural sciencescomputer and information sciencesdata science
- natural sciencescomputer and information sciencesinternetinternet of things
- engineering and technologycivil engineering
- natural sciencesphysical sciencesclassical mechanicsfluid mechanicsfluid statics
- engineering and technologyelectrical engineering, electronic engineering, information engineeringelectronic engineeringsensors
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
20303 IRUN
Spain
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.