Energy Savings And Emerging Markets Spur Growth
This worldwide market study covers hardware, software, and services for high power AC drives, which comprises the midrange (41-200 kW), high-end (201-600 kW), and mega (>600kW) power segments.
World energy consumption is expected to rise dramatically in the next few decades. Demand for and cost of energy will only increase with future population growth and increased industrialization.
High power AC drives help industries face the challenges of reducing energy consumption, raising productivity, lowering production costs, cutting plant operating expenses, and increasing return on investment (ROI) in order to compete in the global market. This will create significant growth opportunities for high power AC drives suppliers during the five year forecast period covered in this market study.
Energy is one of the largest components of industrial cost structures. High power AC drives suppliers are implementing various strategies in the global market to achieve strong results for a wide range of industrial segments to grow their market shares. These suppliers are offering increasingly broader solutions to grow revenues. High power AC drives suppliers are releasing products that fit vertical solutions in many infrastructure and process industries.
This study identifies growth segments and market trends, as well as challenges suppliers face to achieve expansion 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.
The challenge in the high power AC drives marketplace is how suppliers can differentiate themselves and continue to offer increasing value propositions to end users and OEMs. This is especially important because the market is extremely competitive and demand is expected to grow as users have recognized the benefits of high power AC drives. Well-planned strategies are invaluable for high power AC drives suppliers to strengthen and expand their market position and foothold. The study provides recommendations such as:
- What products should suppliers release to achieve an increased market share?
- Which high growth industries are the most attractive for suppliers to target?
- Which emerging regional markets provide the highest growth potential?