Economic downturn not expected to affect sales of low voltage drives
According to the latest statistics from IMS Research, the worldwide market for low voltage ac and dc motor drives experienced unprecedented revenue growth in 2007, increasing by 19.7% over 2006 levels. Data reported by leading drives suppliers for 2008 and 2009 indicate all regions and industry segments will continue to exhibit growth. The information is in line with year-ago forecasts showing “gangbuster growth” in mechatronics , motors, and motion control markets.
The market is expected to continue performing well despite the global economic downturn, with positive growth forecast for 2009. By the end of this year, annual revenue growth should bottom out at 3.7%, according to IMS Research. High energy prices and an increased focus on energy efficiency will contribute to the sales of more low voltage drives.
Lead by infrastructure expansion in China and India, the Asia Pacific motor drives market experienced the largest amount of growth in 2007, and was the second largest regional market after Europe, Middle East, and Asia (EMEA). Valued at nearly $2.4 billion, the drives market in Asia Pacific is expected to continue growing at the fastest rate over the next five years. However, difficult economic conditions around the globe will slow growth across all regions, with most impact felt in the drives markets in the Americas and Japan. The success of recently introduced government stimulus packages will determine the severity of the market downturn, according to IMS Research.
Purchases of drives by users in the utilities, food & beverage, chemicals & petroleum, and renewable energy industries are expected to offset declines in demand by users the metal processing, mining, textiles and commercial HVAC industries.
– Edited by Renee Robbins , senior editor
Control Engineering News Desk
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