Energy Savings and Globalization to Drive Market Growth
This study covers hardware, software, and services for low power AC drives which comprises of micro (under 5 kW), low-end (5-40 kW), and midrange (41-200 kW) segments.
The low power AC drives market is expected to grow due to investments in infrastructure and manufacturing industries worldwide, once the financial stability is restored globally. Emerging economies will again have increasing consumer demand from the growing middle class, more investments pouring into new infrastructures, and the need for producing and saving energy to cope with future rising energy demands and costs. This situation will bode well for low power AC drives market growth.
The world got the taste of very high oil prices and created high awareness of the importance of new sources of energy, alternative energies, and energy savings, and as a result, the importance of the use of low power AC drives.
This study identifies growth segments and market trends, as well as challenges suppliers face to achieve growth in a very fragmented market landscape. In addition to the quantitative assessment, this study provides an insightful analysis of issues that will impact this business in the future.
Strategic Issues
The challenge in the low power AC drives market landscape is how suppliers can differentiate themselves and continue to offer increasing value propositions to users and OEMs. This is especially important because the market is extremely competitive and demand is expected to grow as users in many industries have recognized the benefits of low power AC drives. This study provides a number of recommendations, such as:
- Which industries to target in light of a dire economy
- Which specific industry sectors to penetrate in this fiercely competitive market
- How to align your strategies to take advantage of various economic stimulus packages