Application driven innovation
The capacity and ability to commercialize application driven innovations and new business models in order to support customers in the rapidly changing and evolving markets and industries where SKF is present.
SKF's innovation work contributes to the Global Goals in many ways to several ways via our innovations. The most significant and clear connection is:
Goal 7 - clean and affordable energy for the work we put into making wind and ocean energy more commercially viable.
Our innovations also feed into many other goals, such as:
Goal 9 - Industry innovation and infrastructure because our innovations and inventions are driven by infrastructure investments and a more productive industry.
Goal 12 - Responsible consumption and production because our current and potential customer are increasingly needing to do more with less and we can help this with our new innovations, and new business models based on functionality, service and circular economy.
Goal 8 - Decent work and economic growth because our services and solutions that reduces need of unplanned maintenance and the associated safety risks and productivity.
Goal 11 - Sustainable cities and communities for the part of our innovations that enable sustainable transports such as hybrid and electrical technology, mass transportation and increased efficiency in combustion engines.
Goal 6 - Clean water and sanitation from our inventions for waste water treatment and how this can be made more efficient.
About a third of SKF's new innovations has an environmental issue as a key driver.
This can be a need to reduce emissions, energy, weight, noise, friction, lubrication or other consumable materials, or a combination of several. Most times, these issues which are fueled by increased resource scarcity that are over time turned into costs at our customers. New business models help us to commonly identify these costs and how to reduce them of the total ownership of the customers’ application.
All our solutions are applied to make thing run faster, longer cleaner and more safely - SKF BeyondZero customer solutions are those that enable significant and verified environmental benefits at our customers.
SKF BeyondZero customer solutions made of 7 billion SEK in 2016 this is about 9% of out total revenues.