Keywords: AC Drives, Energy Efficiency, Sustainability, Infrastructure, Automation Solutions, VFD, Variable Frequency Drives (VFD), Variable Speed Drives, Adjustable Speed Drives, Motor Speed Controls, Global Market Research Report, Market Shares, Market Growth, Market Forecast
Several opportunities in the high power AC drives market helped maintain positive market growth. Positive impacts included the lower value of the euro compared to previous years, good economy in North America despite headwinds due to the stronger US dollar, and higher capital investments in Japan. While the high power AC drives market experienced growth in 2014, it was much less than the historical market growth achieved during the past few years, according to a new ARC Advisory Group study.
The long-term growth outlook for the high power AC drives market remains bright with a backdrop of macro-economic environment of demand for more electricity, rising electricity pricing trend, growing infrastructure requirements, government initiatives to save energy across all regions, as well as the need for better control of machines. “More efficient use of energy is a prerequisite for global growth and economic development and high power AC drives can play a key role here,” according to Senior Analyst Himanshu Shah, the principal author of ARC’s “High Power AC Drives Global Market Research Study”.
Mega Trends
A number of megatrends affect this market in a positive manner. The growing need for energy and limited generating capacities will require continuous improvements in energy efficiency. Emerging markets are the drivers of economic growth. The world faces a shortage of clean water, which requires more effective water and wastewater treatment. Urbanization is increasing in emerging economies, demanding more building automation. Electric motors are replacing mechanical and hydraulic solutions in different industries. Nations strive to mitigate climate change by limiting carbon dioxide emissions, strengthening energy-efficiency legislation, and promoting renewable energy through subsidies and tax relief. All these trends and initiatives provide more opportunities for using high power AC drives.
Challenging Market Environment
At the same time, the market faces a challenging environment with European economic woes, an increasing economic slowdown in China, volatility in oil prices affecting capital investments in the oil & gas industry, and the declining value of the Japanese Yen pushing down the market size in US dollars. The study addresses these issues and discusses several opportunities in the high power AC drives market that pushed market growth into the positive territory and other factors that will help grow the market during the forecast period.
In addition to the quantitative assessment of the high power AC drives market, this ARC study provides an insightful analysis of the products and strategies of the leading and emerging high power AC drives suppliers and explores issues that will impact these businesses well into the future.
For more information on this study, please visit our Market Research section