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
While orders for low power AC drives in 2013 were somewhat negatively impacted by weaker industrial demand in mature markets and reduced growth rates in emerging markets compared to 2012, the demand for AC drives continued to remain solid to help meet the growing needs for modern infrastructure, efficient energy utilization, and climate-friendly solutions, according to a new ARC Advisory Group study.
The low power AC drives market experienced a moderate increase in 2013 in spite of slower economic growth in China and other emerging economies. “Global trends for increasing energy efficiency, a rising middle class population in emerging economies, and additional demand for automation provide a solid foundation for low power AC drives market growth. More efficient use of energy is a prerequisite for global growth and economic development, and low power AC drives are a key to achieving these goals, according to Senior Analyst Himanshu Shah, the principal author of ARC’s “Low Power AC Drives Global Market Research Study”.
Rising Middle Class in Emerging Economies
The growing economies of Asia, Eastern Europe, and Latin America are giving rise to an expanding middle class population and increasing urbanization in many cities. This growing middle class of consumers will demand more automobiles, packaged goods, pharmaceutical and health care products, and white goods. These demands will create increased requirements on manufacturing, resources, and infrastructure. Specifically, the world population will create a significant demand in the requirements for fresh water, raw materials to build additional infrastructure, and energy. To meet these needs, industrial operations must expand capacity and increase productivity. Additionally, a number of supporting industries, such as chemicals and petrochemicals, will benefit as well and will generate greater demands for low power AC drives.
Diverse Applications
Low power AC drives are used in a wide range of industry segments, ranging from building automation and food & beverage to water & wastewater and textiles. These industries will need to respond to the demands of this rising global middle class population from emerging economies. In these industries, low power AC drives are used in applications, such as pumps, compressors, fans, elevators, escalators, material handling equipment, HVAC equipment, packaging machinery, and textile machinery. Low power AC drives can provide big savings in electricity consumption and increase productivity of industrial operations by providing more precise motion control. This creates a solid foundation for the future growth of the low power AC drives market.
In addition to the quantitative assessment of the low power AC drives market, this ARC study provides an insightful analysis of the products and strategies of the leading and emerging low 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.