Economic turnaround to boost Europe’s electric drives market

Following a couple of years of lackluster results, prospects of improving economics in 2004 and growing end-user confidence are expected to boost demand in Europe’s $1.5-billion electric drives market, according to a new study by Frost & Sullivan. Increasing demand for improved and more sophisticated drive technology is projected to boost performance of the overall market, with revenues expected to be close to $2 billion by 2009.

Likewise, growth in the ac sector will be stimulated by new product launches, general technology developments, and greater confidence from the key customer sectors. The study projects that these factors will likely lead to a greater recovery in 2004, and will help lift European unit shipments of ac drives to 1.7 million units in 2009, translating to revenues of about $1.74 billion.

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