Product category:
Motors and Variable speed drives
News Release from: ARC Advisory Group | Subject: AC drives in India
Edited by the Processingtalk Editorial
Team on 21 January 2008
The low power AC drive market in India
Indian economic expansion, propelled by the growing manufacturing sector, is fuelling the low power AC drive market in India to grow at 15% from the current USD150M level of 2006
The market for low power AC drives in India, which exceeded $150 million in 2006, is expected to grow at a compounded annual growth rate (CAGR) of 15.4% over the next five years, according to a new ARC Advisory Group study "Low Power AC Drive Outlook for India" Global manufacturers are increasingly seeking footage in the growing domestic Indian market and homegrown manufacturers are also expanding rapidly
This article was originally published on Processingtalk on 21 Nov 2003 at 8.00am (UK)
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Enhancing operational excellence of manufacturing plants is crucial for survival and funding expansion plans.
As a natural progression, plant and factory automation is increasing.
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"Manufacturers exhibiting strong growth over the last five years in this thriving and intensely competitive market are increasingly relying on automation to help gain an edge and improve profitability.
With increasing automation spending, the outlook for the low power AC drive market is extremely bright," according to Senior Analyst Himanshu Shah and Senior Analyst SRVenkatapathy, the authors of the study.
Suppliers are benefiting from the increasing level of automation in manufacturing, leading to a greater use of low power AC drives in industries such as automotive, mining and metals, printing and publishing, and textiles, for applications such as conveying and material handling, fans, pumps, and compressors.
Outside of manufacturing, the application spread now includes HVAC equipment in building automation.
Use of AC drives as a favoured energy saving electrical device in the electric power industry is increasing chiefly for ID/FD fans and boiler feed-water pump applications.
With its applications growing, and new segments such as marine, transportation, and wind energy tapping AC drive potential to a greater depth, the market for low power AC drives in India is on an upswing.
Automation will be increasingly more vital as manufacturers continue to face challenges to satisfy market demands, compete in the growing economy, and keep their businesses remaining profitable.
This scenario creates immense opportunities for all automation equipment suppliers.
However, the automation market dynamics for suppliers also remains extremely competitive.
The challenge for suppliers is how they can differentiate themselves and continue to offer increasing value propositions to users and OEMs.
This is especially important, with the market expected to grow during the forecast period and beyond, as users in many industries have correlated the benefits of AC drives with increasing productivity and energy savings.
The "Low Power AC Drive Outlook for India" study addresses the expanding role of low power AC drives and also identifies overall trends in products, platforms, market sectors, and application segments where large investments take place.
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