Variable speed drive makers say China is key to expansion plans
San Antonio, TX—China’s variable speed drives market is expected to grow at a compound annual revenue growth rate of 6.3% to reach $1.87 billion in 2010, according to new research by Frost & Sullivan.
San Antonio, TX— Rapid industrialization, an aggressively expanding local economy and growing customer understanding of the technology are creating a buoyant market for variable speed drives in China. This $1.22-billion market is expected to experience strong demand and revenue growth, establishing it as one of the key global regions for drives manufacturers, according to recent research by Frost & Sullivan .
VAC to food and beverage, handling and general manufacturing,' says Mik Sabiers, Frost & Sullivan’s research manager.
At the same time, China’s variable speed drive market is also set to benefit from increasingly competitive price levels. The move toward more competitive prices across all product sectors has expanded the potential customer base, and is offering suppliers the opportunity to capitalize on new applications.
Supported by these trends, China’s variable speed drives market is expected to grow at a compound annual revenue growth rate of 6.3% to reach $1.87 billion in 2010. Within the market’s product sectors, robust growth is anticipated for servo and standard ac drives. These technologies are expected to increasingly dominate demand and revenues in the variable speed drive market.
Control Engineering Daily News Desk
Jim Montague, news editor